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LIGHTPATH TECHNOLOGIES INC（LPTH）与Xtant Medical Holdings, Inc.（XTNT）财务数据对比。点击上方公司名可切换其他公司
Xtant Medical Holdings, Inc.的季度营收约是LIGHTPATH TECHNOLOGIES INC的2.0倍（$32.4M vs $16.4M），Xtant Medical Holdings, Inc.净利率更高（0.2% vs -57.5%，领先57.7%），LIGHTPATH TECHNOLOGIES INC同比增速更快（120.2% vs 2.7%），Xtant Medical Holdings, Inc.自由现金流更多（$5.0M vs $2.0M），过去两年LIGHTPATH TECHNOLOGIES INC的营收复合增速更高（45.7% vs 7.7%）
LightPath Technologies Inc是一家精密光学组件及组件生产商，主营非球面透镜、红外光学器件、光纤产品等，服务工业自动化、航空航天、国防、医疗成像、电信等领域的全球客户，提供标准及定制化光学解决方案。
Xtant Medical Holdings是一家全球医疗技术企业，主营骨科生物制剂、神经外科器械及再生医学解决方案，为骨科与神经科诊疗机构提供脊柱手术耗材、骨再生产品等，服务覆盖北美、欧洲及亚太多个地区市场。
LPTH vs XTNT — 直观对比
营收规模更大
XTNT
是对方的2.0倍
$16.4M
营收增速更快
LPTH
高出117.6%
2.7%
净利率更高
XTNT
高出57.7%
-57.5%
自由现金流更多
XTNT
多$3.0M
$2.0M
两年增速更快
LPTH
近两年复合增速
7.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $16.4M | $32.4M |
| 净利润 | $-9.4M | $57.0K |
| 毛利率 | 36.8% | 54.9% |
| 营业利润率 | -52.6% | -2.9% |
| 净利率 | -57.5% | 0.2% |
| 营收同比 | 120.2% | 2.7% |
| 净利润同比 | -260.1% | 101.8% |
| 每股收益（稀释后） | $-0.20 | $0.00 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收LPTHXTNT
| Q4 25 | $16.4M | $32.4M | ||
| Q3 25 | $15.1M | $33.3M | ||
| Q2 25 | $12.2M | $35.4M | ||
| Q1 25 | $9.2M | $32.9M | ||
| Q4 24 | $7.4M | $31.5M | ||
| Q3 24 | $8.4M | $27.9M | ||
| Q2 24 | $8.6M | $29.9M | ||
| Q1 24 | $7.7M | $27.9M |
净利润LPTHXTNT
| Q4 25 | $-9.4M | $57.0K | ||
| Q3 25 | $-2.9M | $1.3M | ||
| Q2 25 | $-7.1M | $3.5M | ||
| Q1 25 | $-3.6M | $58.0K | ||
| Q4 24 | $-2.6M | $-3.2M | ||
| Q3 24 | $-1.6M | $-5.0M | ||
| Q2 24 | $-2.4M | $-3.9M | ||
| Q1 24 | $-2.6M | $-4.4M |
毛利率LPTHXTNT
| Q4 25 | 36.8% | 54.9% | ||
| Q3 25 | 29.8% | 66.1% | ||
| Q2 25 | 22.0% | 68.6% | ||
| Q1 25 | 29.1% | 61.5% | ||
| Q4 24 | 26.0% | 50.9% | ||
| Q3 24 | 33.9% | 58.4% | ||
| Q2 24 | 29.2% | 62.1% | ||
| Q1 24 | 20.9% | 62.1% |
营业利润率LPTHXTNT
| Q4 25 | -52.6% | -2.9% | ||
| Q3 25 | -16.6% | 7.6% | ||
| Q2 25 | -38.0% | 13.1% | ||
| Q1 25 | -36.3% | 3.2% | ||
| Q4 24 | -33.5% | -6.0% | ||
| Q3 24 | -16.4% | -13.5% | ||
| Q2 24 | -25.6% | -9.8% | ||
| Q1 24 | -33.6% | -12.4% |
净利率LPTHXTNT
| Q4 25 | -57.5% | 0.2% | ||
| Q3 25 | -19.2% | 3.9% | ||
| Q2 25 | -57.8% | 10.0% | ||
| Q1 25 | -39.1% | 0.2% | ||
| Q4 24 | -35.2% | -10.0% | ||
| Q3 24 | -19.3% | -18.0% | ||
| Q2 24 | -27.3% | -12.9% | ||
| Q1 24 | -33.7% | -15.8% |
每股收益（稀释后）LPTHXTNT
| Q4 25 | $-0.20 | $0.00 | ||
| Q3 25 | $-0.07 | $0.01 | ||
| Q2 25 | $0.19 | $0.02 | ||
| Q1 25 | $-0.44 | $0.00 | ||
| Q4 24 | $-0.07 | $-0.02 | ||
| Q3 24 | $-0.04 | $-0.04 | ||
| Q2 24 | $-0.15 | $-0.03 | ||
| Q1 24 | $-0.07 | $-0.03 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $73.6M | $17.1M |
| 总债务越低越好 | — | $11.0M |
| 股东权益账面价值 | $77.9M | $51.0M |
| 总资产 | $148.6M | $94.1M |
| 负债/权益比越低杠杆越低 | — | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资LPTHXTNT
| Q4 25 | $73.6M | $17.1M | ||
| Q3 25 | — | $10.4M | ||
| Q2 25 | $4.9M | $6.9M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | — | $6.2M | ||
| Q3 24 | — | $6.6M | ||
| Q2 24 | — | $5.4M | ||
| Q1 24 | — | $4.5M |
总债务LPTHXTNT
| Q4 25 | — | $11.0M | ||
| Q3 25 | — | $17.4M | ||
| Q2 25 | — | $22.3M | ||
| Q1 25 | — | $22.2M | ||
| Q4 24 | — | $22.0M | ||
| Q3 24 | — | $19.1M | ||
| Q2 24 | $535.0K | $21.8M | ||
| Q1 24 | $599.4K | $16.8M |
股东权益LPTHXTNT
| Q4 25 | $77.9M | $51.0M | ||
| Q3 25 | $21.4M | $50.4M | ||
| Q2 25 | $15.6M | $48.5M | ||
| Q1 25 | $15.7M | $43.9M | ||
| Q4 24 | $26.7M | $43.0M | ||
| Q3 24 | $29.4M | $45.7M | ||
| Q2 24 | $30.2M | $45.0M | ||
| Q1 24 | $31.7M | $47.7M |
总资产LPTHXTNT
| Q4 25 | $148.6M | $94.1M | ||
| Q3 25 | $87.3M | $106.3M | ||
| Q2 25 | $81.5M | $103.5M | ||
| Q1 25 | $81.4M | $95.8M | ||
| Q4 24 | $45.8M | $93.8M | ||
| Q3 24 | $48.4M | $98.9M | ||
| Q2 24 | $48.1M | $95.6M | ||
| Q1 24 | $49.7M | $93.9M |
负债/权益比LPTHXTNT
| Q4 25 | — | 0.22× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | 0.02× | 0.48× | ||
| Q1 24 | 0.02× | 0.35× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $2.8M | $5.4M |
| 自由现金流经营现金流 - 资本支出 | $2.0M | $5.0M |
| 自由现金流率自由现金流/营收 | 12.0% | 15.4% |
| 资本支出强度资本支出/营收 | 5.3% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 94.39× |
| 过去12个月自由现金流最近4个季度 | $-6.3M | $10.2M |
8季度趋势，按日历期对齐
经营现金流LPTHXTNT
| Q4 25 | $2.8M | $5.4M | ||
| Q3 25 | $-1.1M | $4.6M | ||
| Q2 25 | $-2.6M | $1.3M | ||
| Q1 25 | $-3.2M | $1.3M | ||
| Q4 24 | $-737.4K | $665.0K | ||
| Q3 24 | $-1.7M | $-1.7M | ||
| Q2 24 | $64.7K | $-5.1M | ||
| Q1 24 | $-394.2K | $-5.8M |
自由现金流LPTHXTNT
| Q4 25 | $2.0M | $5.0M | ||
| Q3 25 | $-1.2M | $4.2M | ||
| Q2 25 | $-3.3M | $910.0K | ||
| Q1 25 | $-3.7M | $87.0K | ||
| Q4 24 | $-817.8K | $-7.0K | ||
| Q3 24 | $-1.8M | $-3.8M | ||
| Q2 24 | $-225.5K | $-5.7M | ||
| Q1 24 | $-802.5K | $-6.5M |
自由现金流率LPTHXTNT
| Q4 25 | 12.0% | 15.4% | ||
| Q3 25 | -8.1% | 12.6% | ||
| Q2 25 | -27.3% | 2.6% | ||
| Q1 25 | -40.0% | 0.3% | ||
| Q4 24 | -11.0% | -0.0% | ||
| Q3 24 | -21.2% | -13.7% | ||
| Q2 24 | -2.6% | -18.9% | ||
| Q1 24 | -10.4% | -23.4% |
资本支出强度LPTHXTNT
| Q4 25 | 5.3% | 1.2% | ||
| Q3 25 | 0.5% | 1.3% | ||
| Q2 25 | 5.6% | 1.0% | ||
| Q1 25 | 4.6% | 3.6% | ||
| Q4 24 | 1.1% | 2.1% | ||
| Q3 24 | 0.9% | 7.5% | ||
| Q2 24 | 3.4% | 1.9% | ||
| Q1 24 | 5.3% | 2.8% |
现金转化率LPTHXTNT
| Q4 25 | — | 94.39× | ||
| Q3 25 | — | 3.53× | ||
| Q2 25 | — | 0.36× | ||
| Q1 25 | — | 22.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
LPTH
| Other | $7.9M | 48% |
| Infrared Components | $5.0M | 31% |
| Visible Components | $3.4M | 21% |
XTNT
| Orthobiologics | $18.3M | 57% |
| Spinal Implant | $9.4M | 29% |
| License Revenue | $4.6M | 14% |
