Revenue Performance - Revenues for Q3 2024 were $56.1 million, an increase of 10.9% compared to $50.6 million in Q3 2023[3]. - For Q4 2024, nLIGHT expects revenues to range from $49 million to $54 million, with a midpoint of $51.5 million[4]. - nLIGHT's strong performance in Microfabrication contributed to the overall revenue growth alongside Aerospace & Defense[2]. Profitability and Loss - Net loss for Q3 2024 was $10.3 million, or $0.21 per diluted share, compared to a net loss of $11.9 million, or $0.26 per diluted share in Q3 2023[3]. - The company reported a 13% reduction in net loss year-over-year, indicating improved financial performance[3]. - The company experienced a net loss of $35.830 million for the nine months ended September 30, 2024, compared to a net loss of $28.432 million for the same period in 2023, indicating an increase in losses of about 26%[17]. - nLIGHT, Inc. had a non-GAAP net loss of $(16.423) million for the nine months ended September 30, 2024, compared to $(7.636) million for the same period in 2023, indicating a worsening of approximately 115%[19]. Gross Margin and EBITDA - Gross margin improved to 22.4% in Q3 2024, up from 19.6% in Q3 2023, reflecting a 500 basis point increase[3]. - Projected gross margin for Q4 2024 is expected to be between 17% and 21%[4]. - Adjusted EBITDA for Q4 2024 is anticipated to be in the range of ($5) million to ($2) million[4]. - The company reported an adjusted EBITDA of $(994) thousand for the three months ended September 30, 2024, compared to $(1.919) million for the same period in 2023, showing an improvement in operational performance[18]. Cash and Investments - Cash and investments at the end of Q3 2024 were approximately $107 million, with no debt[2]. - Cash and cash equivalents decreased to $41.456 million as of September 30, 2024, down from $53.210 million at the end of 2023, reflecting a decline of approximately 22%[17]. - The cash flows from operating activities provided $1.528 million for the nine months ended September 30, 2024, a significant decrease from $9.687 million for the same period in 2023, reflecting a decline of approximately 84%[17]. Assets and Liabilities - As of September 30, 2024, nLIGHT, Inc. reported total assets of $291.294 million, a decrease from $306.803 million as of December 31, 2023, representing a decline of approximately 5%[16]. - Total current liabilities increased to $36.145 million as of September 30, 2024, compared to $32.752 million at the end of 2023, marking an increase of about 10%[16]. - The company’s total stockholders' equity decreased to $235.270 million as of September 30, 2024, from $254.419 million at the end of 2023, a decline of about 7.5%[16]. - nLIGHT, Inc. reported a decrease in inventory to $48.828 million as of September 30, 2024, down from $52.160 million at the end of 2023, representing a reduction of about 6.4%[16]. Stock-Based Compensation - Stock-based compensation for the nine months ended September 30, 2024, was $18.961 million, slightly down from $19.645 million for the same period in 2023, a decrease of about 3.5%[19].

Company Overview - nLight (LASR) shares increased by 28.1% to close at $13.23, following a notable trading volume, contrasting with a 4.6% loss over the past four weeks [1] - The company is focusing on technological advancements in the aerospace and defense sectors, particularly in laser sensing and directed energy applications [1] Financial Performance - nLight is expected to report a quarterly loss of $0.08 per share, reflecting a year-over-year change of +20% [2] - Projected revenues for the upcoming quarter are $55.71 million, which is a 10% increase from the same quarter last year [2] Earnings Estimates and Stock Movement - The consensus EPS estimate for nLight has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [3] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [3] Industry Comparison - nLight operates within the Zacks Electronics - Semiconductors industry, where Broadcom Inc. (AVGO) has a consensus EPS estimate of $1.39, reflecting a +25.2% change year-over-year [4] - Broadcom Inc. has a Zacks Rank of 2 (Buy), indicating a more favorable outlook compared to nLight [4]

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $50.5 million, a 13% increase compared to Q1 2024 but a 5% decrease compared to Q2 2023 [15] - Products revenue was $34.5 million, up 17% sequentially but down 13% year-over-year [15] - Development revenue reached $16.1 million, a 6% increase from the prior quarter and a 17% increase from the same quarter last year [15] - Overall gross margins improved to approximately 24%, up from 17% in Q1 2024 and 23% in Q2 2023 [16][17] - Products gross margin expanded to 30%, compared to 21% in the prior quarter and 29% in the same quarter last year [17] Business Line Data and Key Metrics Changes - Aerospace and defense revenue was $27.4 million, representing 54% of total revenue, which is a 26% increase quarter-over-quarter and a 12% increase year-over-year [15] - Industrial revenue was $12.9 million, accounting for 26% of total revenue, an 8% increase from the prior quarter but a 22% decrease from Q2 2023 [16] - Microfabrication revenue was $10.2 million, representing 20% of total revenue, down 5% sequentially and 16% year-over-year [16] Market Data and Key Metrics Changes - The aerospace and defense sector showed strong growth, particularly in directed energy and laser sensing applications [3][4] - Microfabrication revenue has stabilized after a period of low demand, with signs of renewed interest emerging [9] - The industrial market is shifting towards higher power solutions, particularly in cutting applications [10] Company Strategy and Development Direction - The company is focusing on vertical integration in the directed energy market, which allows for optimized system-level performance at competitive costs [6] - Continued investment in R&D and new product development is aimed at addressing customer pain points in various markets, including EV and battery sectors [11] - The collaboration with EOS in additive manufacturing is expected to enhance product offerings and drive broader adoption of metal 3D printing technologies [12][28] Management Comments on Operating Environment and Future Outlook - Management expressed optimism for the second half of 2024, expecting growth to be higher than the first half, particularly in defense sectors [24] - The company anticipates continued sequential revenue growth in Q3 2024, with guidance in the range of $53 million to $58 million [21] - Management highlighted the importance of maintaining a strong balance sheet and effective working capital management to support long-term growth objectives [20] Other Important Information - The company ended Q2 2024 with cash equivalents and investments of $115 million and no debt [3][19] - Adjusted EBITDA for Q2 2024 was a loss of $1.6 million, an improvement from a loss of $4.9 million in Q1 2024 [18] Q&A Session Summary Question: Overview of segment performance and guidance - Management confirmed that the strong performance in aerospace and defense was a significant driver for the quarter, with a 26% increase in revenue [22][23] Question: Profitability outlook for fiscal 2025 - Management remains optimistic about achieving year-over-year revenue growth in fiscal 2024, with expectations for a strong second half [24] Question: Margin expectations despite revenue growth - Management explained that while revenue from laser products increased, the gross margin guidance reflects a more normalized flow-through from Q2 to Q3 [25][26] Question: Contribution of EOS partnership - The partnership with EOS is expected to enhance the company's position in the additive manufacturing space, reflecting the strength of its technology [27][28] Question: Success in the Chinese market - Management noted that revenue from China is a small part of the business, with slight improvements in ordering patterns observed [31] Question: Backlog margin profile - Management indicated that the backlog is skewing towards higher power sales, which should positively impact gross margins [33]

Financial Performance - Revenues decreased to $95.0 million for the six months ended June 30, 2024, down from $107.4 million in the same period of 2023, primarily due to decreased sales in the Laser Products segment[73]. - The company reported a net loss of $25.5 million for the six months ended June 30, 2024, compared to a net loss of $16.6 million for the same period in 2023[73]. - Revenue from the Industrial market decreased by 31.8% to $24.9 million for the six months ended June 30, 2024, compared to $36.5 million in 2023[82]. - Revenue from the Aerospace and Defense market increased by 7.7% to $49.1 million for the six months ended June 30, 2024, compared to $45.6 million in 2023[82]. - The gross profit margin for the six months ended June 30, 2024, was 20.3%, down from 24.6% in the same period of 2023[81]. - Operating expenses increased to 49.2% of total revenue for the six months ended June 30, 2024, compared to 43.1% in the same period of 2023[81]. - Total revenue for the three months ended June 30, 2024, was $50,511 thousand, a decrease of $2,793 thousand (5.2%) compared to $53,304 thousand in 2023[86]. - Gross profit for Laser Products for the three months ended June 30, 2024, was $11,106 thousand, with a gross margin of 32.2%[88]. Research and Development - The company anticipates continued investment in research and development to achieve its technology and product roadmap[77]. - Research and Development expenses decreased by $268 thousand (2.2%) for the three months ended June 30, 2024, compared to the same period in 2023[92]. Market Dynamics - The company expects fluctuations in demand for its semiconductor and fiber laser solutions based on market cycles and evolving competitive dynamics[75]. - Laser Products revenue decreased for the three and six months ended June 30, 2024, primarily due to decreased unit sales to the Industrial and Microfabrication markets, partially offset by increased revenue from the Aerospace and Defense market[85]. - Advanced Development revenue increased for the three and six months ended June 30, 2024, due to new development contracts, all included in the Aerospace and Defense market[85]. - North America revenue for the three months ended June 30, 2024, increased by $1,323 thousand (3.9%) compared to the same period in 2023, driven by the Aerospace and Defense market[86]. Cash Flow and Liquidity - Cash and cash equivalents were $49.6 million as of June 30, 2024, a decrease from $53.5 million as of December 31, 2023[98]. - For the six months ended June 30, 2024, the company reported net cash provided by operating activities of $7.1 million, compared to a net cash used of $3.5 million in the same period of 2023[102]. - The company experienced a net loss of $25.5 million during the six months ended June 30, 2024, which was offset by increases in working capital of $10.5 million and non-cash expenses totaling $22.1 million[102]. - Net cash used in investing activities was $8.9 million, driven by net purchases of marketable securities of $5.2 million and capital expenditures of $3.7 million[103]. - Net cash used in financing activities was $1.8 million, consisting of taxes paid on stock awards of $3.3 million, partially offset by proceeds from stock option exercises and employee stock plan purchases of $1.5 million[104]. - The company has a $40.0 million revolving line of credit with Banc of California, which is secured by assets and expires on September 24, 2024[105]. - The company anticipates that its existing sources of liquidity will be sufficient to meet working capital and capital expenditure needs for at least the next 12 months[99]. Future Outlook - The company may explore additional financing sources, including equity and debt financing arrangements, to support future capital requirements[99]. - The company may enter into arrangements to acquire or invest in complementary businesses, services, technologies, and intellectual property rights in the future[99]. - There were no material changes to the company's contractual obligations as previously disclosed in the Annual Report for the year ended December 31, 2023[106]. - The company does not believe inflation had a material effect on its business during the three and six months ended June 30, 2024[107].

Company Performance - nLight reported a quarterly loss of $0.10 per share, better than the Zacks Consensus Estimate of a loss of $0.12, compared to a loss of $0.02 per share a year ago, indicating an earnings surprise of 16.67% [1] - The company posted revenues of $50.51 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.64%, but down from $53.3 million year-over-year [2] - Over the last four quarters, nLight has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Outlook - nLight shares have declined approximately 10.6% since the beginning of the year, while the S&P 500 has gained 15.8% [3] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the coming quarter at -$0.05 on revenues of $57.97 million, and -$0.36 on revenues of $215.39 million for the current fiscal year [7] Industry Context - The Electronics - Semiconductors industry, to which nLight belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can materially affect stock performance [5][8]

(1) Exhibit 99.1 nLIGHT, Inc. Announces Second Quarter 2024 Results Revenues of $50.5 million for the second quarter of 2024 CAMAS, Wash., August 1, 2024 - nLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the second quarter of 2024. "Second quarter revenue of $50.5 million was at the upper end of our guidance range and increased 13% compared to the fir ...

nLIGHT, Inc. (NASDAQ:LASR) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Scott Keeney - Chairman and Chief Executive Officer Joe Corso - Chief Financial Officer Conference Call Participants Greg Palm - Craig-Hallum Capital Group Jim Ricchiuti - Needham & Company Ruben Roy - Stifel Mark Miller - The Benchmark Company Operator Hello and welcome to the nLIGHT First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________ FORM 10-Q ________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Commission File Number 001-38462 ________________________________________________________ NLIGHT, INC. (Exact name of Registrant as specified in its charter) __________ ...

Exhibit 99.1 nLIGHT, Inc. Announces First Quarter 2024 Results Revenues of $44.5 million for the first quarter of 2024 CAMAS, Wash., May 2, 2024 - nLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the first quarter of 2024. "With total revenue of $44.5 million, Q1 results were within the range of our guidance, and we continue to believe that Q1 is our t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________ FORM 10-K ________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38462 ____________ ...