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Side-by-side financial comparison of LIGHTPATH TECHNOLOGIES INC (LPTH) and VersaBank (VBNK). Click either name above to swap in a different company.
VersaBank is the larger business by last-quarter revenue ($26.7M vs $16.4M, roughly 1.6× LIGHTPATH TECHNOLOGIES INC). VersaBank runs the higher net margin — 30.3% vs -57.5%, a 87.8% gap on every dollar of revenue. On growth, LIGHTPATH TECHNOLOGIES INC posted the faster year-over-year revenue change (120.2% vs 31.2%). Over the past eight quarters, LIGHTPATH TECHNOLOGIES INC's revenue compounded faster (45.7% CAGR vs 16.6%).
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.
VersaBank is a Canada-based digital-first financial institution offering commercial lending, high-interest deposit accounts and customized financial services for SMEs, retail clients and institutional partners across North America. It operates no physical branches, using secure digital infrastructure to deliver efficient, cost-effective banking experiences.
LPTH vs VBNK — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $16.4M | $26.7M |
| Net Profit | $-9.4M | $8.1M |
| Gross Margin | 36.8% | — |
| Operating Margin | -52.6% | — |
| Net Margin | -57.5% | 30.3% |
| Revenue YoY | 120.2% | 31.2% |
| Net Profit YoY | -260.1% | 35.9% |
| EPS (diluted) | $-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.
| Q1 26 | — | $26.7M | ||
| Q4 25 | $16.4M | — | ||
| Q3 25 | $15.1M | $23.1M | ||
| Q2 25 | $12.2M | $22.0M | ||
| Q1 25 | $9.2M | $20.3M | ||
| Q4 24 | $7.4M | — | ||
| Q3 24 | $8.4M | $19.7M | ||
| Q2 24 | $8.6M | $20.8M |
| Q1 26 | — | $8.1M | ||
| Q4 25 | $-9.4M | — | ||
| Q3 25 | $-2.9M | $4.8M | ||
| Q2 25 | $-7.1M | $6.2M | ||
| Q1 25 | $-3.6M | $5.9M | ||
| Q4 24 | $-2.6M | — | ||
| Q3 24 | $-1.6M | $7.1M | ||
| Q2 24 | $-2.4M | $8.6M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 | -25.6% | — |
| Q1 26 | — | 30.3% | ||
| Q4 25 | -57.5% | — | ||
| Q3 25 | -19.2% | 20.8% | ||
| Q2 25 | -57.8% | 28.3% | ||
| Q1 25 | -39.1% | 29.3% | ||
| Q4 24 | -35.2% | — | ||
| Q3 24 | -19.3% | 35.9% | ||
| Q2 24 | -27.3% | 41.5% |
| Q1 26 | — | — | ||
| 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 | $-0.15 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $73.6M | $458.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $77.9M | $396.4M |
| Total Assets | $148.6M | $4.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $458.4M | ||
| Q4 25 | $73.6M | — | ||
| Q3 25 | — | $336.0M | ||
| Q2 25 | $4.9M | $248.3M | ||
| Q1 25 | — | $282.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $181.0M | ||
| Q2 24 | — | $145.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $535.0K | — |
| Q1 26 | — | $396.4M | ||
| Q4 25 | $77.9M | — | ||
| Q3 25 | $21.4M | $385.5M | ||
| Q2 25 | $15.6M | $385.7M | ||
| Q1 25 | $15.7M | $380.5M | ||
| Q4 24 | $26.7M | — | ||
| Q3 24 | $29.4M | $298.6M | ||
| Q2 24 | $30.2M | $292.1M |
| Q1 26 | — | $4.5B | ||
| Q4 25 | $148.6M | — | ||
| Q3 25 | $87.3M | $4.0B | ||
| Q2 25 | $81.5M | $3.7B | ||
| Q1 25 | $81.4M | $3.6B | ||
| Q4 24 | $45.8M | — | ||
| Q3 24 | $48.4M | $3.3B | ||
| Q2 24 | $48.1M | $3.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.8M | $40.6M |
| Free Cash FlowOCF − Capex | $2.0M | — |
| FCF MarginFCF / Revenue | 12.0% | — |
| Capex IntensityCapex / Revenue | 5.3% | — |
| Cash ConversionOCF / Net Profit | — | 5.03× |
| TTM Free Cash FlowTrailing 4 quarters | $-6.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.6M | ||
| Q4 25 | $2.8M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $-2.6M | — | ||
| Q1 25 | $-3.2M | $-65.0M | ||
| Q4 24 | $-737.4K | — | ||
| Q3 24 | $-1.7M | — | ||
| Q2 24 | $64.7K | — |
| Q1 26 | — | — | ||
| 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 | $-225.5K | — |
| Q1 26 | — | — | ||
| 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 | -2.6% | — |
| Q1 26 | — | — | ||
| 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 | 3.4% | — |
| Q1 26 | — | 5.03× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -10.94× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LPTH
| Other | $7.9M | 48% |
| Infrared Components | $5.0M | 31% |
| Visible Components | $3.4M | 21% |
VBNK
Segment breakdown not available.
