Order encompasses assembly work supporting counter-UAS systems, one of the fastest-growing areas of defense demand

ORLANDO, Fla., July 22, 2026 /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 received $13 million in follow-on purchase orders from a leading C-UAS and defense systems supplier for optical assemblies. Under the order, LightPath will provide optical assembly work, with delivery completion expected in CY 2027.

The orders support one of the fastest-growing areas of the defense market, as the proliferation of unmanned aerial threats drives urgent demand for counter-UAS capabilities among the U.S. military and its allies. The award also reflects the strength of LightPath's optical assemblies business, one of the Company's three pillars of growth, and its differentiated in-house assembly capabilities serving mission-critical defense applications.

LightPath Chief Executive Officer Sam Rubin said: "We are proud to support one of the defense industry's most innovative companies with the optical assemblies that help enable its counter-UAS systems, as part of a multi-year program that is expected to continue to grow. As unmanned threats reshape the modern battlefield, demand for counter-drone capabilities is accelerating rapidly. This order underscores the strength of our assembly capabilities and the expanding role we play with leading defense technology customers seeking superior products backed by secure, domestic supply chains."

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 under the order; (ii) expected growth in demand for counter-UAS systems and the Company's role in supporting that demand; (iii) our increasing pipeline of meaningful orders and our momentum in defense and commercial markets; and (iv) expectations regarding future growth, revenue and gross margins. 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; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; geopolitical tensions and conflicts; 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