LightPath Technologies, Inc. (NASDAQ:LPTH) Q2 2023 Earnings Call Transcript

Gene Inger: I think it’s under appreciation is why I brought it up. And I might mention it, I might ask when you did the secondary, which I thought and said at the time was a wonderful entry, not exit opportunity to get into the stock, was it essentially oversubscribed? Tense to run up after if people couldn’t get enough shares. And were the buyers that you know of that were in the offering, were they restricted as to when they can sell or can they roll out stock anytime they want?

Sam Rubin: Yeah. First of all, thanks for bringing it up. We didn’t talk too much about it. We see the offering is extremely successful both because it was oversubscribed and because in spite of everything going on in the market and all other offerings that we saw in Microcaps, we did not need to provide any warrants or any financial incentives like that to be able to do an offering like that. I believe that the offering created a lot of interest. It probably played a role in the run up of the stock and continues to do. As you see, our volumes have also improved. After a few months of pretty low volumes, we’re starting to garner the interest we should be getting again. And I believe, as you say, the market really signaled through that going up 40% day after the offering and continuing to go up after that, the market definitely signaled we did the right thing. Great.

Gene Inger: Glad to hear it. I’ll let you go. Thank you, guys. I appreciate your leadership. I’m curious what we can anticipate this spring. And hopefully it’s not merely another progression of an earnings report.

Sam Rubin: Thank you, Gene. Good luck with your call.

Operator: The next question comes from Shervin Z of Alliance Global Partners. Please go ahead.

Shervin Z: Hey there, Brian. Was having trouble hopping in the queue. Just have a couple of questions. When adding capacity in Orlando and lots of facilities, could yield be impacted in the short term?

Sam Rubin: That’s a good question. I think we’re not — as of now, we’re not adding any capacity that is, new capabilities in a way that we would expect that there will be a learning curve. And all the capacity being added is in existing facilities; never say never, but I would be surprised if yield would be gravely impacted by it.

Shervin Z: That makes sense. Thank you. And then for Mantis, can you help investors understand when revenue will ramp? How long before partners integrate your technology and then how long before sales ramp?

Sam Rubin: Yes. So we expect to see, in the short term, single unit sales at I think the price we’re selling them for single unit evaluation is about $15,000 a piece. We are starting already to work with some partners on possible integration. There are a lot of, I’d say, application and use cases that we’re testing them for together with partners, some here, some at other sites. And I’d say that typically, the cycle time for partner to integrate it would be at a minimum, six months would be my guess.

Shervin Z: All right, great. Thank you so much. That’s all I have.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Sam Rubin for closing remarks.