Company Announcements

Follow-On Brings Total to $40.3 Million in Advanced IR Camera Orders with
Global Technology Leader

ORLANDO, Fla. , Sept. 17, 2025 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," "we," or "our"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced it has secured $22.1 million in follow-on purchase orders with a leading global technology customer related to the supply of advanced infrared camera systems in CY 2027, after receiving an order for $18.2 millionannounced on September 3, 2025, to be delivered in CY 2026. The purchase orders are subject to the customer's standard terms and conditions and the terms of an agreement between LightPath and the customer.

LightPath Chief Executive Officer Sam Rubin said: "This second order for advanced IR camera systems totaling $40.3 million over the course of CY 2026 and 2027 underscores both the strength of our technology and the incredible progress we've made in our company's transformation over the past year. It further highlights our increasing pipeline of meaningful government, defense and commercial orders with customers driving forward cutting-edge projects.

"Our transition from a components manufacturer to a vertically integrated camera solutions provider continues to evolve, with a focus on vertical integration and solutions-oriented approach for high value customers. We are leveraging our key technologies, including BlackDiamond™ glass, to address multi-billion-dollar markets in defense and commercial applications for infrared imaging systems that are leading us toward higher revenue and gross margins. The defense market in particular is encountering strong geopolitical tailwinds as our products are becoming increasingly important to western defense contractors, especially those seeking more secure supply chains with alternatives to Germanium. We believe today's follow-on order, taken together with our significant pipeline and defense market momentum, will continue to drive notable growth in the months and years ahead," concluded Rubin.

About LightPath Technologies

LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading provider of next-generation optics and imaging systems for both defense and commercial applications. As a vertically integrated solutions provider with in-house engineering design support, LightPath's family of custom solutions range from proprietary BlackDiamond™ chalcogenide-based glass materials – sold under exclusive license from the U.S. Naval Research Laboratory – to complete infrared optical systems and thermal imaging assemblies. The Company's primary manufacturing footprint is located in Orlando, Florida with additional facilities in Texas, New Hampshire, Latvia and China. To learn more, please visit www.lightpath.com.

Forward-Looking Statements

This press release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "guidance," "plan," "estimate," "will," "would," "project," "maintain," "intend," "expect," "anticipate," "prospect," "strategy," "future," "likely," "may," "should," "believe," "continue," "opportunity," "potential," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, without limitation, statements regarding: (i) anticipated timing for our delivery of products in CY 2026 and CY 2027; (ii) our continued transition to a vertically integrated camera solutions provider and the effect of such transition on our business ; (iii) our increasing pipeline of meaningful orders and our momentum in the defense market, (iv) the increasing importance of our products to defense contractors, and (v) expectations regarding future growth. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the impact of varying demand for the Company products; the ability of the Company to obtain needed raw materials and components from its suppliers; the impact of tariffs and other governmental trade restrictions; actions governments, businesses, and individuals take in response to the pandemic, including restrictions on onsite commercial interactions; 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 the Company could take to reduce operating costs; the inability of the Company to sustain profitable sales growth, convert inventory to cash, or reduce its costs to maintain competitive prices for its products; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by the Company in its public filings with the Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K and other filings with the SEC. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the SEC, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

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SOURCE LightPath Technologies