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Side-by-side financial comparison of Cellectis S.A. (CLLS) and LIGHTPATH TECHNOLOGIES INC (LPTH). Click either name above to swap in a different company.

LIGHTPATH TECHNOLOGIES INC is the larger business by last-quarter revenue ($16.4M vs $9.5M, roughly 1.7× Cellectis S.A.). LIGHTPATH TECHNOLOGIES INC runs the higher net margin — -57.5% vs -265.9%, a 208.4% gap on every dollar of revenue. On growth, Cellectis S.A. posted the faster year-over-year revenue change (375.0% vs 120.2%). Cellectis S.A. produced more free cash flow last quarter ($27.6M vs $2.0M).

Cellectis is a French biopharmaceutical company. It develops genome-edited chimeric antigen receptor T-cell technologies for cancer immunotherapy. It has offices in Paris, New York City, and Raleigh, North Carolina.

LightPath Technologies Inc designs, manufactures and distributes high-precision optical components and assemblies, including aspheric lenses, infrared optics, and fiber optic products. It serves global clients across industrial automation, aerospace, defense, medical imaging, and telecommunications sectors.

CLLS vs LPTH — Head-to-Head

Bigger by revenue
LPTH
LPTH
1.7× larger
LPTH
$16.4M
$9.5M
CLLS
Growing faster (revenue YoY)
CLLS
CLLS
+254.7% gap
CLLS
375.0%
120.2%
LPTH
Higher net margin
LPTH
LPTH
208.4% more per $
LPTH
-57.5%
-265.9%
CLLS
More free cash flow
CLLS
CLLS
$25.7M more FCF
CLLS
$27.6M
$2.0M
LPTH

Income Statement — Q2 FY2024 vs Q2 FY2026

Metric
CLLS
CLLS
LPTH
LPTH
Revenue
$9.5M
$16.4M
Net Profit
$-25.3M
$-9.4M
Gross Margin
36.8%
Operating Margin
-181.1%
-52.6%
Net Margin
-265.9%
-57.5%
Revenue YoY
375.0%
120.2%
Net Profit YoY
-51.9%
-260.1%
EPS (diluted)
$-0.28
$-0.20

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
CLLS
CLLS
LPTH
LPTH
Q4 25
$16.4M
Q3 25
$15.1M
Q2 25
$12.2M
Q1 25
$9.2M
Q4 24
$7.4M
Q3 24
$8.4M
Q2 24
$9.5M
$8.6M
Q1 24
$7.7M
Net Profit
CLLS
CLLS
LPTH
LPTH
Q4 25
$-9.4M
Q3 25
$-2.9M
Q2 25
$-7.1M
Q1 25
$-3.6M
Q4 24
$-2.6M
Q3 24
$-1.6M
Q2 24
$-25.3M
$-2.4M
Q1 24
$-2.6M
Gross Margin
CLLS
CLLS
LPTH
LPTH
Q4 25
36.8%
Q3 25
29.8%
Q2 25
22.0%
Q1 25
29.1%
Q4 24
26.0%
Q3 24
33.9%
Q2 24
29.2%
Q1 24
20.9%
Operating Margin
CLLS
CLLS
LPTH
LPTH
Q4 25
-52.6%
Q3 25
-16.6%
Q2 25
-38.0%
Q1 25
-36.3%
Q4 24
-33.5%
Q3 24
-16.4%
Q2 24
-181.1%
-25.6%
Q1 24
-33.6%
Net Margin
CLLS
CLLS
LPTH
LPTH
Q4 25
-57.5%
Q3 25
-19.2%
Q2 25
-57.8%
Q1 25
-39.1%
Q4 24
-35.2%
Q3 24
-19.3%
Q2 24
-265.9%
-27.3%
Q1 24
-33.7%
EPS (diluted)
CLLS
CLLS
LPTH
LPTH
Q4 25
$-0.20
Q3 25
$-0.07
Q2 25
$0.19
Q1 25
$-0.44
Q4 24
$-0.07
Q3 24
$-0.04
Q2 24
$-0.28
$-0.15
Q1 24
$-0.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CLLS
CLLS
LPTH
LPTH
Cash + ST InvestmentsLiquidity on hand
$149.0M
$73.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$148.6M
$77.9M
Total Assets
$407.1M
$148.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CLLS
CLLS
LPTH
LPTH
Q4 25
$73.6M
Q3 25
Q2 25
$4.9M
Q1 25
Q4 24
Q3 24
Q2 24
$149.0M
Q1 24
Total Debt
CLLS
CLLS
LPTH
LPTH
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
$535.0K
Q1 24
$599.4K
Stockholders' Equity
CLLS
CLLS
LPTH
LPTH
Q4 25
$77.9M
Q3 25
$21.4M
Q2 25
$15.6M
Q1 25
$15.7M
Q4 24
$26.7M
Q3 24
$29.4M
Q2 24
$148.6M
$30.2M
Q1 24
$31.7M
Total Assets
CLLS
CLLS
LPTH
LPTH
Q4 25
$148.6M
Q3 25
$87.3M
Q2 25
$81.5M
Q1 25
$81.4M
Q4 24
$45.8M
Q3 24
$48.4M
Q2 24
$407.1M
$48.1M
Q1 24
$49.7M
Debt / Equity
CLLS
CLLS
LPTH
LPTH
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
0.02×
Q1 24
0.02×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CLLS
CLLS
LPTH
LPTH
Operating Cash FlowLast quarter
$28.9M
$2.8M
Free Cash FlowOCF − Capex
$27.6M
$2.0M
FCF MarginFCF / Revenue
290.5%
12.0%
Capex IntensityCapex / Revenue
13.2%
5.3%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-6.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CLLS
CLLS
LPTH
LPTH
Q4 25
$2.8M
Q3 25
$-1.1M
Q2 25
$-2.6M
Q1 25
$-3.2M
Q4 24
$-737.4K
Q3 24
$-1.7M
Q2 24
$28.9M
$64.7K
Q1 24
$-394.2K
Free Cash Flow
CLLS
CLLS
LPTH
LPTH
Q4 25
$2.0M
Q3 25
$-1.2M
Q2 25
$-3.3M
Q1 25
$-3.7M
Q4 24
$-817.8K
Q3 24
$-1.8M
Q2 24
$27.6M
$-225.5K
Q1 24
$-802.5K
FCF Margin
CLLS
CLLS
LPTH
LPTH
Q4 25
12.0%
Q3 25
-8.1%
Q2 25
-27.3%
Q1 25
-40.0%
Q4 24
-11.0%
Q3 24
-21.2%
Q2 24
290.5%
-2.6%
Q1 24
-10.4%
Capex Intensity
CLLS
CLLS
LPTH
LPTH
Q4 25
5.3%
Q3 25
0.5%
Q2 25
5.6%
Q1 25
4.6%
Q4 24
1.1%
Q3 24
0.9%
Q2 24
13.2%
3.4%
Q1 24
5.3%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CLLS
CLLS

Segment breakdown not available.

LPTH
LPTH

Other$7.9M48%
Infrared Components$5.0M31%
Visible Components$3.4M21%

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