FPV Drone Infrared Lens Assemblies for European Defense Customer Expected to Drive $1.0-2.0 Million in Revenue in Calendar Year 2025
ORLANDO, Fla., Dec. 23, 2024 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ:LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced that it has begun sustained delivery of infrared lens assemblies per the terms of the October 2024 Letter of Intent ("LOI") from a European defense customer for active duty use in first-person view (FPV) drone applications.
As part of the ongoing supply agreement LOI announced in October, LightPath is supplying custom lens assemblies using LightPath's BlackDiamond glass as well as the localization of its lens assembly manufacturing to LightPath's Latvia facility to ensure supply chain stability and reliability. While the initial order is for 1,300 assemblies, LightPath management expects that with several follow-on orders throughout calendar year 2025 in-line with targeted volume commitments, this customer could represent $1.0-2.0 million in annual revenue.
