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LightPath Technologies Achieves Key Qualification Milestone With Lockheed Martin for US Army Missile Program
LightPath Technologies (NASDAQ:LPTH) has achieved a key qualification milestone with Lockheed Martin for a US Army missile program. The company will begin delivering advanced thermal camera systems for initial test units, representing potential initial revenues of $50 to $100 million if selected into the program. LightPath's participation, announced in September 2023, involves up to $7.5 million for design and development over three years. The company received $4.7 million in December 2023 for phase one prototypes. The U.S. Army's decision on production is expected by 2026, with an initial order of 10,000 systems. LightPath estimates follow-on orders could reach 10,000 systems per year, potentially generating $500 million to $1 billion over the program's lifetime.
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