Demand and volumenegative · 5 filings
“The decrease in average DCSI is driven by the increase in sales, while managing inventory levels to support our growing backlog.”10-K · Sep 11, 2026 ↗
LightPath Technologies, Inc.
LPTH
Market read
LightPath Technologies, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 23 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
Revenue YoY+17.3%2025-06-30
Operating margin-31.8%-7.1 pts YoY
Company-5.1% todayVolume comparison unavailable
Market group0 of 23 activeEnergy Technology Solutions · unavailable
Disclosed network0 of 3 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Working-capital investment reached $9.6 million, driven by receivables, inventory, and supplier prepayments.
- Higher sales and gross margin improved adjusted EBITDA, but new product development costs partly offset that improvement.
Invalidation: The isolated read changes if LPTH's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 23 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Working-capital investment reached $9.6 million, driven by receivables, inventory, and supplier prepayments.
- Higher sales and gross margin improved adjusted EBITDA, but new product development costs partly offset that improvement.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations320
Usable filing statements118
Verified relationships3
Evidence supporting the case
- Latest annual revenue changed +92.8% year over year.
- Operating margin changed +4.4 percentage points in the latest annual period.
- Net margin changed +11.3 percentage points in the latest annual period.
Evidence challenging the case
- Diluted shares increased 30.6% in the latest annual period.
- Demand and volume has repeated adverse evidence across 5 filings.
- Product pipeline and R&D has repeated adverse evidence across 5 filings.
- Macroeconomic conditions has repeated adverse evidence across 4 filings.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 11, 2026
9.196m-23.5%12m+68.8%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-06-30$35.6M-7.6%$-0.13+2.7%
2023-06-30$32.9M-7.4%$-0.13+17.1%
2024-06-30$31.7M-3.7%$-0.21+19.9%
2025-06-30$37.2M+17.3%$-0.36+7.7%
2026-06-30$71.7M+92.8%$-0.38+30.6%
What management says matters
Persistent and emerging business drivers
Product pipeline and R&Dmixed · 5 filings
“The increase in adjusted EBITDA for fiscal year 2026 is primarily attributable to higher sales and gross margin, partially offset by higher SG&A and new product development costs.”10-K · Sep 11, 2026 ↗
Macroeconomic conditionsnegative · 4 filings
“Domestic sales in China have also been adversely impacted by the economic downturn in China, which continues to negatively impact revenue and bookings in that region.”10-Q · May 7, 2026 ↗
Credit and interest ratesmixed · 2 filings
“For fiscal 2026, we earned interest on our cash balance following the December Offering (as defined below) and the June Offering (as defined below), partially offset by interest expense on finance leases and interest and amortization of loan issuance costs on…”10-K · Sep 11, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
9.19-5.1% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for LPTH. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for LPTH. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind LPTH
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
LMTLockheed Martin CorporationcustomerMay 7, 2026 ▾
“Visimid’s development contract with Lockheed Martin also contributed to the decrease, as the timing and dollar value of deliverables is not always consistent, which causes revenue for this product group to fluctuate from period to period.”
Depended on by
OPTUOptimum Communications, Inc.investeeFeb 13, 2026 ▾
“We serve enterprise customers primarily through Cablevision Lightpath LLC ("Lightpath"), our 50.01% owned subsidiary.”
Filing peers
No filing peers are available for this name yet.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
LPTH is currently a Follower in the organic co-movement group Energy Technology Solutions. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for LPTH; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.