LightPath Technologies, Inc. (LPTH) Q2 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

lens elements by a major commercial customer and demonstrates our ability to supply high-quality infrared optics on a commercial scale for an impactful OEM partner. More important is the future growth potential presented by recent achievements as we continue to execute against our strategic plan. Prior to the second quarter, management focused on executing on important changes necessary for our future growth and evolution as a company in terms of corporate governance and DSG, organizational leadership, and workforce alignment. Another critical phase was infrastructure investments to increase and align capacity and capabilities. Most recently, during the second quarter, we announced several technological and manufacturing process developments that create a basis for further differentiating the solutions we can offer as a partner to our customers. Such differentiating technologies are key in transitioning the company from a component provider, which produces items to the customer's specification, to a solution provider, which leverages those differentiating technologies to have an in-depth dialogue and involvement in the customer's design process. and captures some of the value created by owning the IP, which translates to premiums in pricing. LightPath is leveraging its legacy as a low-cost provider with some of the industry's best high-volume manufacturing capabilities to emerge as a partner for our customers on designing optical engineered solutions where we are adding value by offering the best solutions. As we had previously outlined, This moves us from being a component supplier, a reactive player, who focuses on being the lowest cost provider, to a partner that brings the domain expertise in optics to the table, a position that is naturally more proactive and va...