2021 Q4 Form 10-Q Financial Statement

#000165495422001420 Filed on February 10, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q2 2020 Q4
Revenue $9.243M $8.332M $9.922M
YoY Change -6.84% -8.54% 3.36%
Cost Of Revenue $6.443M $6.269M $6.292M
YoY Change 2.41% 11.94% 10.97%
Gross Profit $2.800M $2.063M $3.630M
YoY Change -22.88% -41.21% -7.63%
Gross Profit Margin 30.29% 24.76% 36.59%
Selling, General & Admin $2.947M $3.980M $2.763M
YoY Change 6.65% 314.59% 25.6%
% of Gross Profit 105.26% 192.88% 76.11%
Research & Development $552.0K $545.0K $529.9K
YoY Change 4.16% 36.26% 12.75%
% of Gross Profit 19.71% 26.41% 14.6%
Depreciation & Amortization $928.4K $899.4K $860.0K
YoY Change 7.96% 8.37% -1.15%
% of Gross Profit 33.16% 43.59% 23.69%
Operating Expenses $3.780M $4.806M $3.574M
YoY Change 5.77% 191.3% 21.15%
Operating Profit -$980.4K -$2.743M $56.46K
YoY Change -1836.36% -247.47% -94.24%
Interest Expense $26.67K -$11.86K $20.00K
YoY Change 33.35% -114.83% -33.33%
% of Operating Profit 35.42%
Other Income/Expense, Net -$39.51K -$208.1K $38.11K
YoY Change -203.69% -793.67%
Pretax Income -$1.020M -$2.963M $94.57K
YoY Change -1178.49% -495.05% -91.32%
Income Tax $35.40K -$49.67K $241.1K
% Of Pretax Income 254.96%
Net Earnings -$1.055M -$2.913M -$146.5K
YoY Change 620.11% -541.4% -119.03%
Net Earnings / Revenue -11.42% -34.96% -1.48%
Basic Earnings Per Share -$0.04 -$0.01
Diluted Earnings Per Share -$0.04 -$108.7K -$0.01
COMMON SHARES
Basic Shares Outstanding 27.01M shares 26.12M shares
Diluted Shares Outstanding 27.01M shares 26.12M shares

Balance Sheet

Concept 2021 Q4 2021 Q2 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.053M $6.775M $5.300M
YoY Change -4.66% 25.46% 23.26%
Cash & Equivalents $5.053M $6.775M $5.306M
Short-Term Investments
Other Short-Term Assets $418.9K $475.4K $300.0K
YoY Change 39.62% -20.77% -25.0%
Inventory $7.315M $8.660M $9.700M
Prepaid Expenses
Receivables $4.955M $4.656M $6.800M
Other Receivables $267.3K $137.1K $0.00
Total Short-Term Assets $18.01M $20.70M $22.20M
YoY Change -18.88% -2.8% 13.27%
LONG-TERM ASSETS
Property, Plant & Equipment $13.16M $13.28M $15.00M
YoY Change -12.28% 2.15% 14.5%
Goodwill $5.855M $5.855M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.74K $27.74K $700.0K
YoY Change -96.04% -96.04% -22.22%
Total Long-Term Assets $33.85M $33.91M $27.70M
YoY Change 22.19% 28.93% 1.84%
TOTAL ASSETS
Total Short-Term Assets $18.01M $20.70M $22.20M
Total Long-Term Assets $33.85M $33.91M $27.70M
Total Assets $51.86M $54.61M $49.90M
YoY Change 3.92% 14.73% 6.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.249M $2.924M $2.600M
YoY Change -13.49% 16.97% 0.0%
Accrued Expenses $1.088M $1.067M $4.200M
YoY Change -74.1% -70.35% 20.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $904.7K $847.1K $1.200M
YoY Change -24.61% -34.84% 20.0%
Total Short-Term Liabilities $7.050M $8.448M $8.100M
YoY Change -12.97% 14.16% 14.08%
LONG-TERM LIABILITIES
Long-Term Debt $3.776M $4.124M $4.500M
YoY Change -16.08% -12.25% -13.46%
Other Long-Term Liabilities $8.943M $8.461M $900.0K
YoY Change 893.7% 840.13% -30.77%
Total Long-Term Liabilities $3.776M $12.59M $5.400M
YoY Change -30.07% 124.74% -16.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.050M $8.448M $8.100M
Total Long-Term Liabilities $3.776M $12.59M $5.400M
Total Liabilities $19.79M $21.03M $13.50M
YoY Change 46.58% 61.8% -0.74%
SHAREHOLDERS EQUITY
Retained Earnings -$201.9M -$200.2M
YoY Change
Common Stock $232.0M $231.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $32.07M $33.58M $36.35M
YoY Change
Total Liabilities & Shareholders Equity $51.86M $54.61M $49.90M
YoY Change 3.92% 14.73% 6.62%

Cashflow Statement

Concept 2021 Q4 2021 Q2 2020 Q4
OPERATING ACTIVITIES
Net Income -$1.055M -$2.913M -$146.5K
YoY Change 620.11% -541.4% -119.03%
Depreciation, Depletion And Amortization $928.4K $899.4K $860.0K
YoY Change 7.96% 8.37% -1.15%
Cash From Operating Activities $1.460M $1.652M $880.0K
YoY Change 65.94% -11.18% 79.59%
INVESTING ACTIVITIES
Capital Expenditures -$118.4K -$438.8K -$940.0K
YoY Change -87.41% -52.82% 5.62%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$118.4K -$438.8K -$940.0K
YoY Change -87.41% -53.32% 23.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -293.9K -533.4K 60.00K
YoY Change -589.77% -584.94% -124.0%
NET CHANGE
Cash From Operating Activities 1.460M 1.652M 880.0K
Cash From Investing Activities -118.4K -438.8K -940.0K
Cash From Financing Activities -293.9K -533.4K 60.00K
Net Change In Cash 1.048M 679.8K -0.0000000001164
YoY Change -900302454652928300.0% -34.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities $1.460M $1.652M $880.0K
Capital Expenditures -$118.4K -$438.8K -$940.0K
Free Cash Flow $1.579M $2.091M $1.820M
YoY Change -13.26% -25.06% 31.88%

Facts In Submission

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CY2020Q2 us-gaap Stockholders Equity
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CY2020Q3 lpth Stock Based Compensation On Stock Options Rsus
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StockholdersEquity
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CY2020Q4 lpth Stock Based Compensation On Stock Options Rsus
StockBasedCompensationOnStockOptionsRsus
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CY2020Q4 lpth Foreign Currency Translation Adjustment
ForeignCurrencyTranslationAdjustment
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CY2020Q4 us-gaap Net Income Loss
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CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Depreciation Depletion And Amortization
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1839401 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Amortization Of Debt Discount Premium
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14854 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
9286 USD
us-gaap Gain Loss On Sale Of Other Assets
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0 USD
us-gaap Gain Loss On Sale Of Other Assets
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us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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301129 USD
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
243016 USD
us-gaap Provision For Doubtful Accounts
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12010 USD
us-gaap Provision For Doubtful Accounts
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us-gaap Increase Decrease In Operating Liabilities
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-123534 USD
us-gaap Increase Decrease In Operating Liabilities
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us-gaap Inventory Write Down
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105993 USD
us-gaap Inventory Write Down
InventoryWriteDown
133204 USD
us-gaap Repayments Of Accounts Receivable Securitization
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311150 USD
us-gaap Repayments Of Accounts Receivable Securitization
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654092 USD
us-gaap Increase Decrease In Receivables
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us-gaap Increase Decrease In Receivables
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132051 USD
us-gaap Increase Decrease In Inventories
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1238529 USD
us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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56504 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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266797 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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699412 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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1542035 USD
us-gaap Payments To Acquire Oil And Gas Equipment
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1317373 USD
us-gaap Payments To Acquire Oil And Gas Equipment
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2160710 USD
us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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13941153 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
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CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
10676000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-5093119 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5020339 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5582881 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
562541 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1125083 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1125083 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
658398 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1549234 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5020339 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
128834 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
21726 USD
CY2021Q4 us-gaap Income Tax Expense Benefit
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35396 USD
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.03 pure
CY2021Q4 us-gaap Allocated Share Based Compensation Expense
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184538 USD
CY2020Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
106167 USD
lpth Discount On Employee Stock Purchase Plan
DiscountOnEmployeeStockPurchasePlan
2155 USD
lpth Discount On Employee Stock Purchase Plan
DiscountOnEmployeeStockPurchasePlan
1091 USD
lpth Discount On Employee Stock Purchase Plan Percentage
DiscountOnEmployeeStockPurchasePlanPercentage
0.10 pure
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.01
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M18D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1761885 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P0Y10M24D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
lpth Share Based Compensation Arrangement By Share Based Payment Award Options Forfeiture In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitureInPeriod
-15526 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.86
lpth Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeiture And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitureAndExpirations
-5534 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.02
lpth Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
P8Y3M18D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
109630 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.60
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y6M
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1334978 shares
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
307771 shares
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.16
lpth Weighted Average Remaining Contract Life Unexercisable Balance Ending1
WeightedAverageRemainingContractLifeUnexercisableBalanceEnding1
P8Y7M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
712493 shares
lpth Weighted Average Remaining Contract Life Unexercisable Balance Ending
WeightedAverageRemainingContractLifeUnexercisableBalanceEnding
P0Y10M24D
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
47354 USD
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5315 USD
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11432 USD
CY2021Q4 lpth Total Finance Lease Cost
TotalFinanceLeaseCost
49140 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
11009 USD
lpth Increase Or Decrease In Loan Cost
IncreaseOrDecreaseInLoanCost
-61223 USD
lpth Increase Or Decrease In Loan Cost
IncreaseOrDecreaseInLoanCost
0 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
266850 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
275377 USD
us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
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us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-395257 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
133298 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
136332 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-116369 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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653899 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1721939 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-81145 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6774694 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2160710 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-242930 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5387388 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5052755 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5306243 USD
us-gaap Interest Paid Net
InterestPaidNet
81533 USD
us-gaap Interest Paid Net
InterestPaidNet
105029 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
197103 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
512499 USD
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>1. Basis of Presentation</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">References in this document to “the Company,” “LightPath,” “we,” “us,” or “our” are intended to mean LightPath Technologies, Inc., individually, or as the context requires, collectively with its subsidiaries on a consolidated basis. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the requirements of Article 8 of Regulation S-X promulgated under the Exchange Act and, therefore, do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements and related notes, included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021, filed with the SEC. Unless otherwise stated, references to particular years or quarters refer to our fiscal years ended June 30 and the associated quarters of those fiscal years.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">These Condensed Consolidated Financial Statements are unaudited, but include all adjustments, including normal recurring adjustments, which, in the opinion of management, are necessary to present fairly our financial position, results of operations and cash flows for the interim periods presented. The Consolidated Balance Sheet as of June 30, 2021 has been derived from the audited financial statements at that date but does not include all of the information and notes required by generally accepted accounting principles for complete financial statements. Results of operations for interim periods are not necessarily indicative of the results that may be expected for the year as a whole. The unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Management makes estimates and assumptions during the preparation of our unaudited Condensed Consolidated Financial Statements that affect amounts reported in the unaudited Condensed Consolidated Financial Statements and accompanying notes. Such estimates and assumptions could change in the future as more information becomes available, which, in turn, could impact the amounts reported and disclosed herein.</p>
CY2020Q4 us-gaap Lease Cost
LeaseCost
232223 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9638515 USD
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9015498 USD
CY2021Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
477102 USD
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
1079467 USD
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
-1055291 USD
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
-146545 USD
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27008748 shares
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26117239 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27008748 shares
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26117239 shares
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1523570 shares
CY2020Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2781775 shares
lpth Operating Lease Expiry Year
OperatingLeaseExpiryYear
2032
lpth Finance Lease Term
FinanceLeaseTerm
three to five years
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
171911 USD
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
173437 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
43825 USD
CY2021Q4 lpth Right Of Use Asset
RightOfUseAsset
9770959 USD
CY2021Q2 lpth Right Of Use Asset
RightOfUseAsset
9492600 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
816789 USD
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
799507 USD
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
127278 USD
CY2021Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
212212 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8943334 USD
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8461133 USD
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
18437 USD
CY2021Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
66801 USD
CY2021Q4 lpth Total Lease Liabilities
TotalLeaseLiabilities
9905838 USD
CY2021Q2 lpth Total Lease Liabilities
TotalLeaseLiabilities
9539653 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
398000 USD
CY2021Q4 lpth Weighted Average Remaining Lease Term In Years Operating Leases
WeightedAverageRemainingLeaseTermInYearsOperatingLeases
P10Y10M24D
CY2021Q4 lpth Finance Lease Weighted Average Remaining Lease Term2
FinanceLeaseWeightedAverageRemainingLeaseTerm2
P1Y1M6D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.029 pure
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.077 pure
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
448485 USD
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
427215 USD
lpth Finance Lease Payments Use
FinanceLeasePaymentsUse
11747 USD
lpth Finance Lease Payments Use
FinanceLeasePaymentsUse
24256 USD
lpth Financing Cash Used For Finance Leases
FinancingCashUsedForFinanceLeases
133298 USD
lpth Financing Cash Used For Finance Leases
FinancingCashUsedForFinanceLeases
136332 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
86738 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
326245 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
59647 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1059682 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
11811 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1038253 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1065958 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
980589 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
7034987 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
158196 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11505714 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
145715 USD
us-gaap Revenues
Revenues
18346517 USD
us-gaap Revenues
Revenues
19431143 USD
CY2021Q4 lpth Allowance For Obsolescence
AllowanceForObsolescence
-1271205 USD
CY2021Q2 lpth Allowance For Obsolescence
AllowanceForObsolescence
-1189218 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
28310969 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27221020 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15152251 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13158718 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
9760123 USD
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1019895 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1522119 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
626275 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.11 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.08 pure
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
301129 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
243016 USD
lpth Weightedaverageexpectedvolatility Valuation Assumptions For Grants
WeightedaverageexpectedvolatilityValuationAssumptionsForGrants
0.712 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0074 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y5M26D
lpth Stock Option Balancebeginning Shares
StockOptionBalancebeginningShares
432927 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
318461 shares
lpth Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedWeightedAverageRemainingContractualTerms
P1Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
27341 shares
lpth Stock Options Balance Ending Shares
StockOptionsBalanceEndingShares
417401 shares
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
309058 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3976347 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
111006 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
111006 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
46253 USD
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
4553670 USD
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3776246 USD
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2047471 shares
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
297323 USD
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1376790 USD
us-gaap Net Income Loss
NetIncomeLoss
-1687388 USD
us-gaap Net Income Loss
NetIncomeLoss
-49477 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27001360 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26049750 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27001360 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26049750 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
us-gaap Operating Lease Cost
OperatingLeaseCost
344141 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
340411 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
91179 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
113223 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11747 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24256 USD
CY2020Q4 lpth Total Finance Lease Cost
TotalFinanceLeaseCost
58786 USD
lpth Total Finance Lease Cost
TotalFinanceLeaseCost
102926 USD
lpth Total Finance Lease Cost
TotalFinanceLeaseCost
137479 USD
CY2021Q4 us-gaap Lease Cost
LeaseCost
221051 USD
us-gaap Lease Cost
LeaseCost
447067 USD
us-gaap Lease Cost
LeaseCost
477890 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
132444 USD
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
1200000 USD
CY2021Q4 lpth Cumulative Gain
CumulativeGain
2 USD
CY2021Q4 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-14000 USD
CY2020Q4 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
77000 USD
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-40000 USD
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-21000 USD
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
5100000 USD
CY2021Q4 us-gaap Cash Available For Distributions
CashAvailableForDistributions
5200000 USD
CY2021 us-gaap Legal Fees
LegalFees
718000 USD
CY2021Q4 us-gaap Legal Fees
LegalFees
153000 USD
us-gaap Legal Fees
LegalFees
481000 USD
CY2021Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
210000 USD
CY2021 us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
485000 USD
lpth Cash And Cash Equivalents Held By Foreign Subsidiaries
CashAndCashEquivalentsHeldByForeignSubsidiaries
0.50 pure

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