LightPath Technologies Inc. reported a net loss of approximately $14.9 million for the fiscal year ending June 30, 2025, compared to a net loss of about $8.0 million in the prior year. The company attributed the increased net loss in part to a $3.5 million rise in operating loss driven by higher operating expenses, partially offset by improved gross margin. Non-operating items impacting the fiscal year 2025 results included a $1.0 million increase in interest expense, a $0.4 million loss on extinguishment of debt, and a $1.4 million change in the fair value of warrant liability, all related to acquisition financing activities. Adjusted EBITDA for fiscal year 2025 was a loss of $2.0 million, representing -16% of revenue, compared to a loss of $1.1 million or -13% of revenue in the previous year. Management noted that performance indicators are reviewed regularly, including units of production and other non-financial metrics, as the company seeks to leverage its optical design engineering capabilities to secure new business, particularly from customers seeking U.S.-based suppliers for critical components. The company highlighted its ongoing efforts to serve as a supply source for customers reluctant to purchase from foreign suppliers. No outlook or guidance for future periods was provided in the report.