US Market News
4週前
nLIGHT, Inc. Announces First Quarter 2026 ResultsMay 7, 2026 4:10 PM
Business Wire Revenues of $80.2 million increased 55% year-over-year Record A&D product revenues of $33.1 million increased 98% year-over-year nLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power lasers for mission critical directed energy, optical sensing, and advanced manufacturing applications, today reported record financial results for the first quarter of 2026. “Our first quarter results represent another strong quarter of execution for nLIGHT with total revenue, gross margin, and Adjusted EBITDA all above our expectations. Our results were again driven by strength in our A&D markets with record defense product revenue nearly doubling year-over-year,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “Looking ahead, we remain encouraged by the pipeline of directed energy opportunities, including follow-on production content, upgrades to existing platforms, and new prototype programs that should position us for continued growth over the next several years.” First Quarter 2026 Financial Highlights Three Months Ended
March 31, (In thousands, except percentages) 2026 2025 % Change Revenues $ 80,181 $ 51,668 55.2 % Gross margin 33.1 % 26.7 % Loss from operations $ (719 ) $ (9,610 ) 92.5 % Operating margin (0.9 )% (18.6 )% Net income (loss) $ 645 $ (8,093 ) NM* Adjusted EBITDA(1) $ 13,831 $ 116 NM* (1) A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release. *Not meaningful Revenues of $80.2 million for the first quarter of 2026 were up 55.2% compared to $51.7 million for the first quarter of 2025. Gross margin was 33.1% for the first quarter of 2026 compared to 26.7% for the first quarter of 2025. GAAP net income for the first quarter of 2026 was $0.6 million, or $0.01 per diluted share, compared to GAAP net loss of $8.1 million, or $0.16 per diluted share, for the first quarter of 2025. Non-GAAP net income for the first quarter of 2026 was $11.8 million, or $0.22 per diluted share, compared to non-GAAP net loss of $1.9 million, or $0.04 per diluted share, for the first quarter of 2025. Reconciliations of the non-GAAP metrics presented here to the most directly comparable GAAP metric have been provided in the tables included at the end of this release. Outlook For the second quarter of 2026, nLIGHT expects revenues to be in the range of $75 million to $81 million. The midpoint of $78 million includes Products revenue of approximately $58 million and Advanced Development revenue of approximately $20 million. nLIGHT expects overall gross margin to be in the range of 29% to 33%, with Products gross margin in the range of 37% to 41% and Advanced Development gross margin of approximately 8%. nLIGHT expects Adjusted EBITDA to be in the range of $8 million to $12 million. We have not reconciled our outlook for Adjusted EBITDA because unrealized and realized foreign exchange gains and losses cannot be reasonably calculated or predicted nor can the probable significance be determined at this time. Accordingly, a reconciliation is not available without unreasonable effort. Investor Webcast at 2:00 p.m. Pacific Time, Thursday, May 7, 2026 A webcast to discuss the first quarter results will be held on Thursday, May 7, 2026, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The audio webcast will be available on the investor relations section of the company's web site at http://investors.nlight.net. A replay of the webcast will be available shortly after the conclusion of the call. The webcast can also be accessed directly at https://events.q4inc.com/attendee/724898168. Use of Non-GAAP Financial Results In addition to U.S. GAAP results, this press release contains non-GAAP financial results, including non-GAAP gross margin, Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP net income (loss) per share, basic and diluted. We use Adjusted EBITDA to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. In addition to our results determined in accordance with GAAP, we believe Adjusted EBITDA is a meaningful measure of performance as it is commonly utilized by us and the investment community to analyze operating performance in our industry. Similarly, we believe that providing non-GAAP gross margin, non-GAAP net income (loss) and non-GAAP net income (loss) per share, basic and diluted, is useful to our investors as they present an informative supplemental view of our results from period to period by removing the effect of stock-based compensation expense and other non-recurring items. However, the non-GAAP metrics presented herein are specific to us and may not be comparable to similar metrics disclosed by other companies because of differing methods used by other companies in calculating them. We define Adjusted EBITDA as net income (loss) adjusted for income tax expense (benefit), other non-operating income or expense, interest income or expense, depreciation and amortization, stock-based compensation, acquisition and integration-related costs, and other non-recurring items as determined by management, as applicable. We define non-GAAP gross margin as GAAP gross margin adjusted for stock-based compensation and other non-recurring items as determined by management, as applicable. We define non-GAAP net income (loss) as GAAP net income (loss) adjusted for stock-based compensation, amortization of purchased intangibles, acquisition and integration-related costs, and other non-recurring items as determined by management, as applicable. We define non-GAAP net income (loss) per share, basic and diluted, as non-GAAP net income (loss) divided by the weighted-average number of shares outstanding during the respective period plus the dilutive effect of any common stock equivalents during the period in the case of non-GAAP net income (loss) per share, diluted. Tables presenting the reconciliation of net loss to Adjusted EBITDA, as well as the reconciliation of GAAP to non-GAAP gross margin, GAAP to non-GAAP net income (loss) and GAAP to non-GAAP net income (loss) per share, basic and diluted, are included at the end of this press release. Safe Harbor Statement Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Words such as “outlook,” “guidance,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions may identify these forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding expected revenues, gross margin, and Adjusted EBITDA, and our business strategy and ability to profitably grow our business, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements, including but not limited to our ability to compete successfully in the markets for our products; changes in the markets we serve or in the global economy; our ability to increase our volumes and decrease our costs to offset potential declines in the average selling prices of our products; rapid technological changes in the markets that we participate in; our ability to develop and maintain products that can achieve market acceptance; our ability to generate sufficient revenues to achieve or maintain profitability in the future; our high levels of fixed costs and inventory and their effect on our gross profits and results of operations if demand for our products declines or we maintain excess inventory levels; our ability to manage growth and spending during economic downturns; our manufacturing capacity and operations and their suitability for future levels of demand; our reliance on third parties to manufacture certain of our products and product components; our reliance on a small number of customers for a significant portion of our revenues; our ability to manage risks associated with international customers and operations; the effect of government export and import controls on our ability to compete in international markets; our ability to protect our proprietary technology and intellectual property rights; fluctuations in our quarterly results of operations and other operating measures; and the effect on our business of claims, lawsuits, government investigations, other legal or regulatory proceedings, or commercial or contractual disputes that we are or may become involved in. Additional information concerning these and other factors can be found in nLIGHT's filings with the Securities and Exchange Commission (the “SEC”), including other risks, relevant factors and uncertainties identified in the “Risk Factors” section of nLIGHT's most recent Annual Report on Form 10-K or subsequent filings with the SEC. nLIGHT undertakes no obligation to update publicly or revise any forward-looking statements contained herein to reflect future events or developments, except as required by law. The nLIGHT logo and “nLIGHT” are registered trademarks or trademarks of nLIGHT, Inc. in various jurisdictions. About nLIGHT nLIGHT, Inc. is a leading provider of high-power lasers for mission critical directed energy, optical sensing, and advanced manufacturing applications. Headquartered in Camas, Washington, nLIGHT employs more than 800 people with operations in the United States, Europe and Asia. The company’s vertically integrated approach enables performance leadership from laser chip through system-level solutions. For more information, please visit www.nlight.net. nLIGHT, Inc. Consolidated Statements of Operations (In thousands, except per share data) (Unaudited) Three Months Ended
March 31, 2026 2025 Revenue: Products $ 58,202 $ 35,678 Development 21,979 15,990 Total revenue 80,181 51,668 Cost of revenue: Products 32,810 23,724 Development 20,858 14,145 Total cost of revenue(1) 53,668 37,869 Gross profit 26,513 13,799 Operating expenses: Research and development(1) 11,846 11,374 Sales, general, and administrative(1) 15,091 12,035 Restructuring 295 — Total operating expenses 27,232 23,409 Loss from operations (719 ) (9,610 ) Other income: Interest income 1,562 1,688 Interest (expense) (300 ) (48 ) Other income, net 155 14 Income (loss) before income taxes 698 (7,956 ) Income tax expense 53 137 Net income (loss) $ 645 $ (8,093 ) Net income (loss) per share, basic $ 0.01 $ (0.16 ) Net income (loss) per share, diluted $ 0.01 $ (0.16 ) Shares used in per share calculations: Basic 54,121 49,093 Diluted 59,975 49,093 (1)Includes stock-based compensation as follows: Three Months Ended March 31, 2026 2025 Cost of revenues $ 1,054 $ 570 Research and development 2,261 1,784 Sales, general, and administrative 7,571 3,702 $ 10,886 $ 6,056 nLIGHT, Inc. Condensed Consolidated Balance Sheets (In thousands) (Unaudited) As of March 31, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 298,211 $ 98,699 Marketable Securities 34,383 34,934 Accounts receivable, net 48,105 50,836 Inventory 43,864 45,407 Prepaid expenses and other current assets 21,502 13,314 Total current assets 446,065 243,190 Restricted cash 322 322 Lease right-of-use assets 14,266 15,020 Property, plant and equipment, net 40,897 42,114 Goodwill 12,432 12,448 Other assets, net 1,717 2,116 Total assets $ 515,699 $ 315,210 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 19,125 $ 20,890 Accrued liabilities 16,929 19,052 Deferred revenue 4,093 1,489 Current portion of lease liabilities 2,902 2,776 Line of credit 20,000 20,000 Total current liabilities 63,049 64,207 Non-current income taxes payable 5,991 5,902 Long-term lease liabilities 12,681 13,431 Other long-term liabilities 4,741 4,921 Total liabilities 86,462 88,461 Stockholders' equity: Common stock - par value 17 16 Additional paid-in capital 780,482 578,360 Accumulated other comprehensive loss (3,344 ) (3,064 ) Accumulated deficit (347,918 ) (348,563 ) Total stockholders’ equity 429,237 226,749 Total liabilities and stockholders’ equity $ 515,699 $ 315,210 nLIGHT, Inc. Consolidated Statements of Cash Flows (In thousands) (Unaudited) Three Months Ended
March 31, 2026 2025 Cash flows from operating activities: Net loss $ 645 $ (8,093 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation 3,158 3,172 Amortization 211 498 (Increase) reduction in carrying amount of right-of-use assets 723 (473 ) Provision for losses on (recoveries of) accounts receivable (9 ) (466 ) Stock-based compensation 10,886 6,056 Deferred income taxes (3 ) (3 ) Loss on disposal of property, plant and equipment 24 62 Interest earned on marketable securities not yet received (231 ) (227 ) Non-cash restructuring charges 295 — Changes in operating assets and liabilities: Accounts receivable, net 2,736 (768 ) Inventory 1,343 (2,811 ) Prepaid expenses and other current assets (8,165 ) (959 ) Other assets, net 189 502 Accounts payable (1,637 ) 2,018 Accrued and other long-term liabilities (2,528 ) 1,693 Deferred revenues 2,610 (736 ) Lease liabilities (594 ) 450 Non-current income taxes payable 30 65 Net cash provided by (used in) operating activities 9,683 (20 ) Cash flows from investing activities: Purchases of property, plant and equipment (2,113 ) (2,281 ) Purchase of marketable securities (34,173 ) (34,288 ) Proceeds from maturities and sales of marketable securities 34,918 34,136 Net cash used in investing activities (1,368 ) (2,433 ) Cash flows from financing activities: Proceeds from public offerings, net of offering costs 191,275 — Proceeds from line of credit — 20,000 Proceeds from stock option exercises 150 121 Tax payments related to stock award issuances (190 ) (1,356 ) Net cash provided by financing activities 191,235 18,765 Effect of exchange rate changes on cash (38 ) 56 Net increase in cash, cash equivalents and restricted cash 199,512 16,368 Cash, cash equivalents and restricted cash, beginning of period 99,021 66,088 Cash, cash equivalents and restricted cash, end of period $ 298,533 $ 82,456 Supplemental disclosures: Cash paid for interest, net $ 288 $ 12 Operating cash outflows from operating leases 797 855 Right-of-use assets obtained in exchange for lease liabilities (32 ) 1,188 Accrued purchases of property, equipment and patents 222 337 Reconciliation of cash and cash equivalents and restricted cash: Cash and cash equivalents $ 298,211 $ 82,196 Restricted cash 322 260 Total cash and cash equivalents and restricted cash $ 298,533 $ 82,456 nLIGHT, Inc. Reconciliation of GAAP Financial Metrics to Non-GAAP (In thousands, except per share data) (Unaudited) Reconciliation of GAAP to Non-GAAP Gross Profit Three Months Ended March 31, 2026 2025 Products Development Total Products Development Total Revenue $ 58,202 $ 21,979 $ 80,181 $ 35,678 $ 15,990 $ 51,668 Cost of revenue (32,810 ) (20,858 ) (53,668 ) (23,724 ) (14,145 ) (37,869 ) Gross profit $ 25,392 $ 1,121 $ 26,513 $ 11,954 $ 1,845 $ 13,799 Non-GAAP adjustments Stock-based compensation 590 464 1,054 570 — 570 Non-GAAP gross profit $ 25,982 $ 1,585 $ 27,567 $ 12,524 $ 1,845 $ 14,369 Gross margin 43.6 % 5.1 % 33.1 % 33.5 % 11.5 % 26.7 % Non-GAAP gross margin 44.6 % 7.2 % 34.4 % 35.1 % 11.5 % 27.8 % Reconciliation of Net Loss to Adjusted EBITDA Three Months Ended
March 31, 2026 2025 Net income (loss) $ 645 $ (8,093 ) Income tax expense 53 137 Other income, net (155 ) (14 ) Interest income (1,562 ) (1,688 ) Interest expense 300 48 Depreciation and amortization 3,369 3,670 Stock-based compensation 10,886 6,056 Restructuring charges 295 — Adjusted EBITDA $ 13,831 $ 116 Reconciliation of GAAP to Non-GAAP Net Loss, and GAAP to Non-GAAP Net Loss per Share, Basic and Diluted Three Months Ended
March 31, 2026 2025 Net income (loss) $ 645 $ (8,093 ) Add back: Stock-based compensation(1) 10,886 6,056 Amortization of purchased intangibles(1) — 149 Restructuring charges 295 — Non-GAAP net income (loss) 11,826 (1,888 ) GAAP weighted-average shares outstanding 54,121 49,093 Participating securities — — Non-GAAP weighted-average number of shares, basic 54,121 49,093 Dilutive effect of common stock equivalents 5,854 — Non-GAAP weighted-average number of shares, diluted 59,975 49,093 Non-GAAP net income (loss) per share, basic $ 0.22 $ (0.04 ) Non-GAAP net income (loss) per share, diluted $ 0.20 $ (0.04 ) (1) There is no income tax effect related to the stock-based compensation and amortization of purchased intangibles adjustments due to the full valuation allowance in the United States. nLIGHT, Inc. Supplemental Schedule of Financial Information (In thousands) (Unaudited) Revenues by End Market Three Months Ended
March 31, 2026 2025 Aerospace and Defense $ 55,127 $ 32,706 Industrial 12,025 8,856 Microfabrication 13,029 10,106 $ 80,181 $ 51,668 View source version on businesswire.com: https://www.businesswire.com/news/home/20260507265876/en/ John Marchetti
VP Corporate Development and Investor Relations
nLIGHT, Inc.
(360) 566-4460
john.marchetti@nlight.net Original: nLIGHT, Inc. Announces First Quarter 2026 Results
US Market News
4月前
nLIGHT, Inc. Announces Pricing of Public Offering of Common StockFebruary 3, 2026 11:42 PM
Business Wire
nLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power lasers for mission-critical directed energy, optical sensing, and advanced manufacturing applications, today announced the pricing of its underwritten public offering of 3,977,273 shares of common stock pursuant to its existing shelf registration statement at a price to the public of $44.00 per share. The aggregate gross proceeds from the offering are expected to be approximately $175 million, before deducting the underwriting discounts and commissions and estimated offering expenses. In connection with the offering, nLIGHT has granted the underwriters a 30-day option to purchase up to an additional 596,590 shares of its common stock at the public offering price, less the underwriting discounts and commissions. nLIGHT intends to use the net proceeds from the offering for working capital, capital expenditures and other general corporate purposes. The offering is expected to close on February 5, 2026, subject to market and other customary closing conditions.
Stifel, Baird, William Blair and Raymond James are acting as joint lead book-running managers for the offering. Cantor is acting as book-running manager and Needham & Company is acting as co-manager for the offering.
An automatically effective shelf registration statement on Form S-3, including a base prospectus, relating to the securities, was filed with the Securities and Exchange Commission (“SEC”) on February 3, 2026. This offering is being made only by means of a preliminary prospectus supplement and the accompanying base prospectus that forms part of the registration statement. The preliminary prospectus supplement and the accompanying base prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. nLIGHT intends to file a final prospectus supplement and accompanying base prospectus with the SEC. Copies of the final prospectus supplement and the accompanying base prospectus, when available, may also be obtained by contacting Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, 1201 Wills St., Suite 600, Baltimore, MD 21231, by telephone at (855) 300-7136 or by email at SyndProspectus@Stifel.com; Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, Wisconsin 53202, by telephone at (800) 792-2473, or by email at syndicate@rwbaird.com; William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com; or Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8863 or by email at prospectus@raymondjames.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the public offering, including statements regarding the timing, aggregate gross proceeds, and completion of the public offering, nLIGHT’s intended use of the net proceeds from the offering and other references to future periods. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements, including but not limited to the factors and uncertainties identified in the “Risk Factors” section of nLIGHT’s Annual Report on Form 10-K for the year ended December 31, 2024 and in the preliminary prospectus supplement related to the offering filed with the SEC. nLIGHT undertakes no obligation to update publicly or revise any forward-looking statements contained herein to reflect future events or developments, except as required by law.
About nLIGHT
nLIGHT, Inc. is a leading provider of high-power lasers for mission-critical directed energy, optical sensing, and advanced manufacturing applications. Headquartered in Camas, Washington, nLIGHT employs approximately 800 people with operations in the United States, Europe and Asia.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260203601403/en/
For more information contact:
John Marchetti
VP Corporate Development and Investor Relations
nLIGHT, Inc.
(360) 566-4460
john.marchetti@nlight.net
Original: nLIGHT, Inc. Announces Pricing of Public Offering of Common Stock
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