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Side-by-side financial comparison of FIRST US BANCSHARES, INC. (FUSB) 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 $10.4M, roughly 1.6× FIRST US BANCSHARES, INC.). FIRST US BANCSHARES, INC. runs the higher net margin — 20.4% vs -57.5%, a 78.0% gap on every dollar of revenue. On growth, LIGHTPATH TECHNOLOGIES INC posted the faster year-over-year revenue change (120.2% vs 7.1%). FIRST US BANCSHARES, INC. produced more free cash flow last quarter ($9.1M vs $2.0M). Over the past eight quarters, LIGHTPATH TECHNOLOGIES INC's revenue compounded faster (45.7% CAGR vs 2.6%).

First Citizens Bancshares, Inc. is a bank holding company based in Raleigh, North Carolina and one of the largest banks in the United States. Its primary subsidiary is First Citizens Bank, which operates over 500 branches in 23 states. A second subsidiary is Silicon Valley Bank, which operates 39 offices in 15 states.

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.

FUSB vs LPTH — Head-to-Head

Bigger by revenue
LPTH
LPTH
1.6× larger
LPTH
$16.4M
$10.4M
FUSB
Growing faster (revenue YoY)
LPTH
LPTH
+113.2% gap
LPTH
120.2%
7.1%
FUSB
Higher net margin
FUSB
FUSB
78.0% more per $
FUSB
20.4%
-57.5%
LPTH
More free cash flow
FUSB
FUSB
$7.1M more FCF
FUSB
$9.1M
$2.0M
LPTH
Faster 2-yr revenue CAGR
LPTH
LPTH
Annualised
LPTH
45.7%
2.6%
FUSB

Income Statement — Q4 FY2025 vs Q2 FY2026

Metric
FUSB
FUSB
LPTH
LPTH
Revenue
$10.4M
$16.4M
Net Profit
$2.1M
$-9.4M
Gross Margin
36.8%
Operating Margin
28.1%
-52.6%
Net Margin
20.4%
-57.5%
Revenue YoY
7.1%
120.2%
Net Profit YoY
24.2%
-260.1%
EPS (diluted)
$0.36
$-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
FUSB
FUSB
LPTH
LPTH
Q4 25
$10.4M
$16.4M
Q3 25
$10.5M
$15.1M
Q2 25
$10.3M
$12.2M
Q1 25
$9.8M
$9.2M
Q4 24
$9.7M
$7.4M
Q3 24
$10.1M
$8.4M
Q2 24
$10.0M
$8.6M
Q1 24
$9.9M
$7.7M
Net Profit
FUSB
FUSB
LPTH
LPTH
Q4 25
$2.1M
$-9.4M
Q3 25
$1.9M
$-2.9M
Q2 25
$155.0K
$-7.1M
Q1 25
$1.8M
$-3.6M
Q4 24
$1.7M
$-2.6M
Q3 24
$2.2M
$-1.6M
Q2 24
$2.1M
$-2.4M
Q1 24
$2.1M
$-2.6M
Gross Margin
FUSB
FUSB
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
FUSB
FUSB
LPTH
LPTH
Q4 25
28.1%
-52.6%
Q3 25
23.9%
-16.6%
Q2 25
1.6%
-38.0%
Q1 25
23.8%
-36.3%
Q4 24
23.8%
-33.5%
Q3 24
29.2%
-16.4%
Q2 24
27.4%
-25.6%
Q1 24
27.8%
-33.6%
Net Margin
FUSB
FUSB
LPTH
LPTH
Q4 25
20.4%
-57.5%
Q3 25
18.4%
-19.2%
Q2 25
1.5%
-57.8%
Q1 25
18.1%
-39.1%
Q4 24
17.6%
-35.2%
Q3 24
22.0%
-19.3%
Q2 24
21.2%
-27.3%
Q1 24
21.3%
-33.7%
EPS (diluted)
FUSB
FUSB
LPTH
LPTH
Q4 25
$0.36
$-0.20
Q3 25
$0.32
$-0.07
Q2 25
$0.03
$0.19
Q1 25
$0.29
$-0.44
Q4 24
$0.29
$-0.07
Q3 24
$0.36
$-0.04
Q2 24
$0.34
$-0.15
Q1 24
$0.34
$-0.07

Balance Sheet & Financial Strength

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

Metric
FUSB
FUSB
LPTH
LPTH
Cash + ST InvestmentsLiquidity on hand
$73.5M
$73.6M
Total DebtLower is stronger
$10.9M
Stockholders' EquityBook value
$105.6M
$77.9M
Total Assets
$1.2B
$148.6M
Debt / EquityLower = less leverage
0.10×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FUSB
FUSB
LPTH
LPTH
Q4 25
$73.5M
$73.6M
Q3 25
$54.7M
Q2 25
$54.0M
$4.9M
Q1 25
$56.0M
Q4 24
$47.2M
Q3 24
$82.3M
Q2 24
$58.2M
Q1 24
$60.2M
Total Debt
FUSB
FUSB
LPTH
LPTH
Q4 25
$10.9M
Q3 25
$10.9M
Q2 25
$10.9M
Q1 25
$10.9M
Q4 24
$10.9M
Q3 24
$10.9M
Q2 24
$10.8M
$535.0K
Q1 24
$10.8M
$599.4K
Stockholders' Equity
FUSB
FUSB
LPTH
LPTH
Q4 25
$105.6M
$77.9M
Q3 25
$104.2M
$21.4M
Q2 25
$101.9M
$15.6M
Q1 25
$101.2M
$15.7M
Q4 24
$98.6M
$26.7M
Q3 24
$98.5M
$29.4M
Q2 24
$93.8M
$30.2M
Q1 24
$92.3M
$31.7M
Total Assets
FUSB
FUSB
LPTH
LPTH
Q4 25
$1.2B
$148.6M
Q3 25
$1.1B
$87.3M
Q2 25
$1.1B
$81.5M
Q1 25
$1.1B
$81.4M
Q4 24
$1.1B
$45.8M
Q3 24
$1.1B
$48.4M
Q2 24
$1.1B
$48.1M
Q1 24
$1.1B
$49.7M
Debt / Equity
FUSB
FUSB
LPTH
LPTH
Q4 25
0.10×
Q3 25
0.10×
Q2 25
0.11×
Q1 25
0.11×
Q4 24
0.11×
Q3 24
0.11×
Q2 24
0.12×
0.02×
Q1 24
0.12×
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
FUSB
FUSB
LPTH
LPTH
Operating Cash FlowLast quarter
$12.3M
$2.8M
Free Cash FlowOCF − Capex
$9.1M
$2.0M
FCF MarginFCF / Revenue
87.2%
12.0%
Capex IntensityCapex / Revenue
31.1%
5.3%
Cash ConversionOCF / Net Profit
5.79×
TTM Free Cash FlowTrailing 4 quarters
$16.0M
$-6.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FUSB
FUSB
LPTH
LPTH
Q4 25
$12.3M
$2.8M
Q3 25
$4.2M
$-1.1M
Q2 25
$3.9M
$-2.6M
Q1 25
$1.8M
$-3.2M
Q4 24
$7.8M
$-737.4K
Q3 24
$1.9M
$-1.7M
Q2 24
$2.5M
$64.7K
Q1 24
$825.0K
$-394.2K
Free Cash Flow
FUSB
FUSB
LPTH
LPTH
Q4 25
$9.1M
$2.0M
Q3 25
$3.6M
$-1.2M
Q2 25
$1.6M
$-3.3M
Q1 25
$1.7M
$-3.7M
Q4 24
$5.7M
$-817.8K
Q3 24
$1.3M
$-1.8M
Q2 24
$2.3M
$-225.5K
Q1 24
$-142.0K
$-802.5K
FCF Margin
FUSB
FUSB
LPTH
LPTH
Q4 25
87.2%
12.0%
Q3 25
34.2%
-8.1%
Q2 25
16.0%
-27.3%
Q1 25
17.2%
-40.0%
Q4 24
58.2%
-11.0%
Q3 24
12.7%
-21.2%
Q2 24
23.5%
-2.6%
Q1 24
-1.4%
-10.4%
Capex Intensity
FUSB
FUSB
LPTH
LPTH
Q4 25
31.1%
5.3%
Q3 25
5.9%
0.5%
Q2 25
21.8%
5.6%
Q1 25
0.7%
4.6%
Q4 24
21.6%
1.1%
Q3 24
6.6%
0.9%
Q2 24
2.0%
3.4%
Q1 24
9.8%
5.3%
Cash Conversion
FUSB
FUSB
LPTH
LPTH
Q4 25
5.79×
Q3 25
2.18×
Q2 25
25.16×
Q1 25
0.99×
Q4 24
4.53×
Q3 24
0.87×
Q2 24
1.20×
Q1 24
0.39×

Financial Flow Comparison

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

Revenue Breakdown by Segment

FUSB
FUSB

Segment breakdown not available.

LPTH
LPTH

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

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