LightPath Technologies (NASDAQ:LPTH) shares gained 9% after the company announced it had secured an 11 million dollar follow-on order for infrared camera systems from a major global technology customer supporting counter-unmanned aircraft system (counter-UAS) applications.
Repeat order strengthens customer relationship
The latest contract represents another order from one of LightPath’s key customers and reinforces ongoing demand for the company’s infrared imaging technology across defence and public safety markets.
According to the company, the programme will also include a planned transition from traditional Germanium optics to its proprietary BlackDiamond optical materials.
BlackDiamond rollout marks strategic milestone
Chief Executive Officer Sam Rubin said the agreement demonstrates the company’s growing partnership with an important customer.
“This order reflects the deepening relationship with one of our most significant customers and the expanding role of our infrared camera systems in public safety applications, where reliability and performance are mission-critical.”
Rubin added that moving to BlackDiamond materials represents an important strategic development, particularly as export restrictions continue to affect the availability of Germanium.
He said the transition supports the company’s strategy of offering higher-value products.
“The shift supports the company’s move toward higher-value, vertically integrated camera solutions and the higher revenue and gross margins that accompany it.”
Focus on defence and public safety markets
LightPath develops optical components and imaging systems for both commercial and defence applications.
The new purchase order supports counter-UAS programmes, extending previous work with the same customer and highlighting continued investment in infrared surveillance technologies.
The company noted that the contract remains subject to the customer’s standard purchasing terms as well as the existing agreement between the two parties.
LightPath Technologies stock price
