LightPath Technologies announced a $7 million cash purchase of the assets of Amorphous Materials, Inc., with an additional $3 million in milestone‑based equity tied to technical achievements. The deal gives LightPath a new facility that can compound and cast up to 10,000 lbs of chalcogenide glass per year, enabling the company to produce its proprietary BlackDiamond glass in diameters up to 17 inches—more than three times the current 5‑inch limit.
The expanded capacity will allow LightPath to meet growing demand for long‑range infrared sensors, particularly for defense programs such as the Golden Dome satellite system. By duplicating the new glass‑melting capability at its existing Texas plant, LightPath will increase production capacity, reduce lead times, and strengthen its position as a vertically integrated supplier of high‑margin infrared optics. The acquisition aligns with the company’s strategy to move from commodity components to high‑value subsystems and to capitalize on U.S. export restrictions on germanium and gallium, which have heightened demand for germanium‑free alternatives like BlackDiamond.
Financially, LightPath expects the acquisition to add roughly $3 million in annual revenue. The company’s Q4 2025 gross profit of $2.7 million (22% of revenue) was lower than the $2.5 million (29.2% of revenue) reported in the same quarter a year earlier, largely due to an increase in inventory reserve charges. In Q1 2026, gross profit rose to $4.5 million (30% of revenue) from $2.8 million (34% of revenue) a year earlier, reflecting stronger demand in the defense segment and improved operational leverage from the new facility.
Sam Rubin, LightPath’s President and CEO, said the acquisition “strengthens our industry position, glass supply chain, and further solidifies our transition from a pure component provider to a vertically integrated provider of subsystems and solutions for IR imaging.” He added that the new technology will “upgrade our own capabilities, expand capacity, and enable us to accelerate new glass readiness,” positioning LightPath to produce large optics for high‑value long‑range imaging applications. Ray Hilton III, CEO of Amorphous Materials, noted that “combining our complementary glass technologies with LightPath’s robust glass and imaging product suite will enable new possibilities for large optics and exciting new products.”
The deal also adds a second, NDAA‑compliant manufacturing site in Texas, a critical factor for securing defense contracts that require U.S.‑made components. The acquisition is expected to enhance LightPath’s competitive edge in the $9 billion infrared imaging market, where the company is pursuing a strategy of vertical integration and germanium‑free solutions to mitigate supply‑chain risks and capitalize on geopolitical tailwinds. The expanded production capability and new facility position LightPath to capture a larger share of the growing demand for advanced infrared optics in both defense and commercial sectors.
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