Genasys vs Lightpath Technologies
Lightpath Technologies is the larger business, with $71.7m of revenue in fiscal 2026 against $40.8m for Genasys (1.8 times as much). Lightpath Technologies grew faster (92.8% against 69.8%). Lightpath Technologies kept more of each dollar of sales as profit: a net margin of -28.6% against -44.4%.
| Latest fiscal year | GenasysGNSS, 2025 | Lightpath TechnologiesLPTH, 2026 |
|---|---|---|
| Revenue | $40.8m | $71.7m |
| Revenue growth | 69.8% | 92.8% |
| Net income | −$18.1m | −$20.5m |
| Operating margin | -41.2% | -27.4% |
| Net margin | -44.4% | -28.6% |
| Return on equity | -183.6% | -24.9% |
| Free cash flow | −$9.0m | −$16.5m |
| Cash | $8.0m | $93.2m |
| Total debt | $18.0m | — |
| Debt to equity | 831.1% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 187 | 425 |
| Market value | $66.9m | $476m |
| Price vs our value range | — | — |
| Moat score | 35 (Weak) | 28 (Weak) |
| Insider trades, 12 months | 3 buys, 0 sales | 1 buys, 18 sales |