nLIGHT(US:LASR)2024-11-07 21:15Revenue 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].