LightPath Technologies Inc (NASDAQ:LPTH) reported financial results for the first quarter of fiscal 2027 after the market close on Tuesday. Here's what you need to know from the report.

LightPath Technologies shares are retreating from recent levels. Why are LPTH shares down?

LightPath Q1 Earnings Highlights

• Q1 Revenue: $20.76 million, versus estimates of $21.93 million
• Q1 EPS: Loss of two cents, versus estimates for a loss of four cents

LightPath said first-quarter revenue climbed 38% year-over-year as backlog grew to a record $132.9 million. The company noted that approximately $110.8 million of its backlog was requested by customers for delivery within the next 12 months.

"Fiscal 2027 is off to a strong start, led by backlog, a key indicator of our expected future revenue trends," said Sam Rubin, president and CEO of LightPath.

LightPath noted that it generated positive adjusted EBITDA for the fifth consecutive quarter while more than doubling its investments in new product development.

The company ended the period with $82.9 million in total cash and cash equivalents.

Management will further discuss the quarter on an earnings call at 5 p.m. ET.

LPTH Shares Slip After the Close

LPTH Price Action: LightPath shares were down 6.91% in after-hours, trading at $7.44 at the time of publication on Tuesday, according to market data.