The following is a summary of the LightPath Technologies, Inc. (LPTH) Q2 2024 Earnings Call Transcript:

Financial Performance:

• LightPath reported Q2 revenues of $7.3 million, which is down from the prior year's $8.5 million.

• Gross margin for Q2 was around $2.2 million, a decrease of 33% compared to last year.

• The net loss was $1.7 million or $0.05 per share, compared to a net loss of $0.7 million or $0.03 per share the prior year.

• EBITDA was a loss of approximately $454,000, in contrast to an income of $207,000 in the previous year.

• Half-yearly revenue was about $15.4 million, a decrease of 3% from the previous fiscal year.

• The total backlog as of end of December 2023 was about $21.2 million, a decrease of 28% year-over-year.

• The company has made a capital expenditure of approximately $1.5 million, primarily in expanding their Orlando facility.

Business Progress:

• LightPath's shift from a component manufacturer to a value-added solutions provider is underway, supported by a partnership with Lockheed Martin.

• The integration of Visimid is advancing, leading to product development in fire safety and defense.

• The company's market share in the defense business has grown substantially.

• The transition of customers from Germanium to LightPath's BlackDiamond material is creating new markets, predominantly in the automotive sector.

• The company is establishing a presence in free space optical communications, which ties into the quantum communications and sensors development.

• They are working on result-oriented projects like threat detection systems and infrared cameras for drone detection, while also developing materials under a license from the U.S. Navy.

• LightPath is also collaborating with Lockheed Martin on missile development. All these progress points point towards the company's strong focus on the defense sector and its transition to become a systems firm.

More details: LightPath Technologies IR

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