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Lightpath Technologies vs Everspin Technologies: LPTH and MRAM compared
Lightpath Technologies is the larger company: $21.2M of revenue in its latest quarter (Q4 FY26) against $20.6M for Everspin Technologies (Q3 2026). Lightpath Technologies is growing faster (+73% against +47% a year earlier). Lightpath Technologies is more profitable, with an operating margin of -20.3% against -38.4%.
Where the money goes: LPTH and MRAM
Lightpath Technologies (LPTH) · Q4 FY26
Lightpath Technologies, Q4 FY26: revenue $21.2M (+73% year over year), operating margin -20.3%, net loss $4.1M, operating cash flow −$5.1M. The chart follows the revenue to costs, profit and cash.
Everspin Technologies (MRAM) · Q3 2026
Everspin Technologies, Q3 2026: revenue $20.6M (+47% year over year), operating margin -38.4%, net loss $7.2M, operating cash flow $863K. The chart follows the revenue to costs, profit and cash.
| Lightpath Technologies (LPTH) | Everspin Technologies (MRAM) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $21.2M | $20.6M |
| Revenue growth, Y/Y | +73% | +47% |
| Operating margin | -20.3% | -38.4% |
| Net earnings | −$4.1M | −$7.2M |
| Net margin | -19.6% | -34.7% |
| Operating cash flow | −$5.1M | $863K |
| Market value | — | $393M |
| Analysts’ mean target | — | $25.50 |
Where the revenue comes from
Lightpath Technologies
- Assemblies and Modules: $10.4M (49%)
- Infrared Components: $5.8M (27%)
- Visible Components: $4.2M (20%)
- Engineering Services: $777K (4%)
Everspin Technologies
- Product sales: $16.9M (82%)
- Licensing, royalty, engineering services and other revenue: $3.7M (18%)
Questions
Which is bigger, Lightpath Technologies or Everspin Technologies?
Lightpath Technologies is the larger company: $21.2M of revenue in its latest quarter (Q4 FY26) against $20.6M for Everspin Technologies (Q3 2026).
Is Lightpath Technologies or Everspin Technologies growing faster?
Lightpath Technologies is growing faster (+73% against +47% a year earlier).
Which is more profitable, Lightpath Technologies or Everspin Technologies?
Lightpath Technologies is more profitable, with an operating margin of -20.3% against -38.4%.
More: Lightpath Technologies earnings · how Lightpath Technologies makes money · Everspin Technologies earnings · how Everspin Technologies makes money
From the companies' latest 10-Q, 10-K or earnings release (10-K filed Sep 11, 2026; 8-K filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.