LightPath Technologies shares jumped 20% on heavy volume following updates regarding its Visimid acquisition. The company is leveraging the acquired technology to develop target-seeking applications for drones. This initiative aligns with Pentagon plans to consolidate vendors for a significant shipment ramp-up. Management expects the drone business to potentially exceed the size of its core G5 segment.
LightPath also confirmed its engineering involvement in the Space Development Agency’s upcoming satellite launch program. The company is partnering with Lockheed Martin on the project. The program is expected to deploy 300 to 400 satellites. This collaboration further expands LightPath’s presence in the aerospace and defense markets.