New Quarterly Revenue Record Shoots up LightPath Technologies, Inc. (NASDAQ: LPTH) Stock

LightPath Technologies, Inc. (NASDAQ: LPTH) soared 22% on Friday and closed at $2.85. the stock has been moving up since its quarterly financial results announcement. The revenue for Q3-2021, which ended on March 31, 2021, came in at $10.7 million, indicating a 23% YoY increase. This is the new quarterly record for revenues for the company, which saw the numbers exceeding $10 million mark for the first time in its history. 

Financial figures for Q3-21 and first nine months

In fiscal 2021 in the first nine months, the company’s revenue came in at $30.1 million, indicating a 17% increase from a year before. The company reported that its total backlog from the third quarter-end totaled $19.5 million compared with $22.8 million at the Q3-2020 end. 

Gross margin during the reported quarter came in at 36%, reflecting yield inefficiencies in context with new lenses into production volume. This compares with 46% from a year prior. During the first nine months of the 2021 fiscal year, the gross margin is 38% against 40% from a year before. 

Net loss of the company in Q3-2021 came in at $223,000 relative to $816,000 net income in Q3-2020. In the first nine months of fiscal 2021, the net loss is reported at $272,000 against net income of $210,000 from a year prior. 

EBITDA reporting

During the third quarter of the current fiscal of the company, its EBITDA came in at $1.1 million, as against $1.9 million in Q3-2020. During the first nine months of the 2021 fiscal year, the EBITDA is $3.5 million relative to $3.7 million in the same period in 2020. 

The company’s capital expenditures totaled around $2.7 million for the first nine months in the 2021 fiscal year, compared to $1.5 million for the first nine months of the 2020 fiscal. Total debt, which includes finance leases, came in at -8% or $482,000, which is the first time in the company’s history. 

As of March 31, 2021, cash and cash equivalents are reported at $5.9 million, surging 10% from $5.4 million as of June 30, 2020. 

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