Added to YB: 2026-08-04
Pitch date: 2026-07-31
LPTH [neutral]
LightPath Technologies, Inc.
+8.33%
current return
Author Info
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Company Info
LightPath Technologies, Inc. designs, develops, manufactures, and distributes optical systems and assemblies in the United States.
Market Cap
$688.2M
Pitch Price
$10.32
Price Target
N/A
Dividend
N/A
EV/EBITDA
1.2K
P/E
-21.17
EV/Sales
10.64
Sector
Electronic Equipment, Instruments and Components
Category
growth
$LPTH, Part 1. The Germanium Story Is Half Wrong, the Real Moat Is Better, and Management Just Bought the China Factory From Itself
LPTH (needs more research): IR optics maker. Bull 'germanium-only substitute' thesis is wrong — BD6 is generic (co admits). Real moat: US melt capacity, DLA-funded qualification path, molding yield, G5 camera integration + Jan Amorphous Materials buy. Backlog $110.6M vs ~$45M rev (58M from 1 unnamed tech customer). GAAP loss $16.4M inflated by $12.2M earnout markup; underlying ~$4.17M loss, shrinking. Risks: related-party China factory sale to mgmt w/ margin ratchet, no fairness opinion; 9.6% holder (North Run) unlocks Aug 2; ATM terminated. No position yet.
Read full article (10 min)