Defined Contribution Retirement Plans |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Defined Contribution Retirement Plans | |
| Defined Contribution Retirement Plans | 12. Defined Contribution Retirement Plans
The Company provides retirement benefits to its U.S.-based employees through two defined contribution retirement plans. These benefits are offered under the LightPath Technologies Inc. 401(k) plan (the “LightPath Plan”) and the G5 Infrared, LLC 401(k) Plan (the “G5 Plan”). The LightPath Plan and the G5 Plan are defined 401(k) contribution plans, administered by third parties, that all U.S. employees, over the age of 18, are eligible to participate in after one month of employment. Under the LightPath Plan, the Company matches 100% of the first 2% of employee contributions. Under the G5 Plan, the Company matches 100% of the first 4% of employee contributions. The Company made matching contributions under these plans of approximately $0.2 million and $0.1 million during the years ended June 30, 2025 and 2024, respectively. The Company is in the process of merging these plans, which is legally required to be completed by December 31, 2025. |