LightPath Technologies Q1 2025: $34.3M Sales, $1.4M Net Loss

TL;DR

**LightPath Q1: Sales $34.3M, but lost $1.4M. Assets $94.5M, Liabilities $39.6M.**

AI Summary

LightPath Technologies Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $94.5 million and total liabilities of $39.6 million. For the three months ended September 30, 2024, the company had net sales of $34.3 million and a net loss of $1.4 million.

Why It Matters

This filing provides a snapshot of LightPath Technologies' financial health and operational performance for the first quarter of fiscal year 2025, impacting investor confidence and strategic decisions.

Risk Assessment

Risk Level: medium — The company reported a net loss in the quarter, indicating potential financial challenges that warrant close monitoring.

Key Numbers

• $94.5M — Total Assets (As of September 30, 2024)
• $39.6M — Total Liabilities (As of September 30, 2024)
• $34.3M — Net Sales (For the three months ended September 30, 2024)
• $1.4M — Net Loss (For the three months ended September 30, 2024)

Key Players & Entities

• LightPath Technologies Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• $94.5 million (dollar_amount) — Total assets
• $39.6 million (dollar_amount) — Total liabilities
• $34.3 million (dollar_amount) — Net sales for the three months ended September 30, 2024
• $1.4 million (dollar_amount) — Net loss for the three months ended September 30, 2024

FAQ

Key Financial Figures

• $0.01 — tered Class A Common Stock, par value $0.01 LPTH The Nasdaq Stock Market, LLC
• $150,000 — payable as part of the purchase price, $150,000 (81,610 shares) was issued at closing,
• $350,000 — be issued in four equal installments of $350,000 each, on January 1, 2024, July 1, 2024,

Filing Documents

• lpth_10q.htm (10-Q) — 855KB
• lpth_ex311.htm (EX-31.1) — 12KB
• lpth_ex312.htm (EX-31.2) — 12KB
• lpth_ex321.htm (EX-32.1) — 6KB
• lpth_ex322.htm (EX-32.2) — 6KB
• 0001654954-24-013931.txt ( ) — 5122KB
• lpth-20240930.xsd (EX-101.SCH) — 55KB
• lpth-20240930_lab.xml (EX-101.LAB) — 324KB
• lpth-20240930_cal.xml (EX-101.CAL) — 52KB
• lpth-20240930_pre.xml (EX-101.PRE) — 273KB
• lpth-20240930_def.xml (EX-101.DEF) — 151KB
• lpth_10q_htm.xml (XML) — 821KB

Financial Information

Part I Financial Information Item 1

Financial Statements

Financial Statements 4 Unaudited Condensed Consolidated Balance Sheets 4 Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) 5 Unaudited Condensed Consolidated Statement of Changes in Stockholders' Equity 6 Unaudited Condensed Consolidated Statements of Cash Flows 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Results of Operations 23 Liquidity and Capital Resources 25 Contractual Obligations and Commitments 26 Off-Balance Sheet Arrangements 26 Critical Accounting Policies and Estimates 26 How We Operate 27 Non-GAAP Financial Measures 30 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4

Controls and Procedures

Controls and Procedures 31

Other Information

Part II Other Information Item 1

Legal Proceedings

Legal Proceedings 32 Item 1A

Risk Factors

Risk Factors 32 Item 2 Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 32 Item 3 Defaults Upon Senior Securities 32 Item 4 Mine Safety Disclosures 32 Item 5 Other Information 32 Item 6 Exhibits 33

Signatures

Signatures 34 2 Table of Contents CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS Certain statements and information in this Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the "Quarterly Report") may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements concerning plans, opinions, expectations, beliefs, objectives, assumptions or projections regarding future events or future results and underlying assumptions and other statements, which are not statements of historical facts. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," or other comparable terminology. These forward-looking statements are based largely on our current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. These statements are subject to many risks, uncertainties, and other important factors that could cause actual future results to differ materially from those expressed in the forward-looking statements including, but not limited to, our ability to obtain needed raw materials and components from our suppliers; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; geopolitical tensions, the Russian-Ukraine conflict, and the Hamas/Israel war; the effects of steps that we could tak

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements LIGHTPATH TECHNOLOGIES, INC. Condensed Consolidated Balance Sheets (unaudited) September 30, June 30, Assets 2024 2024 Current assets: Cash and cash equivalents $ 4,280,637 $ 3,480,268 Trade accounts receivable, net of allowance of $ 20,870 and $ 25,676 5,196,840 4,928,931 Inventories, net 6,790,204 6,551,059 Prepaid expenses and deposits 538,580 445,900 Other current assets 2,218 131,177 Total current assets 16,808,479 15,537,335 Property and equipment, net 14,921,499 15,210,612 Operating lease right-of-use assets 6,514,321 6,741,549 Intangible assets, net 3,254,963 3,650,739 Goodwill 6,764,127 6,764,127 Deferred tax assets, net 123,000 123,000 Other assets 58,001 59,602 Total assets $ 48,444,390 $ 48,086,964 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,661,862 $ 3,231,713 Accrued liabilities 1,413,876 1,911,867 Accrued payroll and benefits 1,487,707 1,446,452 Operating lease liabilities, current 1,028,981 1,059,998 Loans payable, current portion 2,963,855 209,170 Finance lease obligation, current portion 183,656 177,148 Total current liabilities 9,739,937 8,036,348 Deferred tax liabilities, net 331,755 326,197 Accrued liabilities, noncurrent 315,480 611,619 Finance lease obligation, less current portion 491,106 528,753 Operating lease liabilities, noncurrent 7,836,512 8,058,502 Loans payable, less current portion 284,881 325,880 Total liabilities 18,999,671 17,887,299 Commitments and Contingencies Stockholders' equity: Preferred stock: Series D, $ 0.01 par value, voting; 500,000 shares authorized; none issued and outstanding — — Common stock: Class A, $ 0.01 par value, voting; 94,500,000 shares authorized; 39,612,737 and 39,254,643 shares issued and outstanding 396,127 392,546 Additional paid-in capital 245,733,382 245,140,758 Accumula

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View this 10-Q filing on SEC EDGAR