nLIGHT(US:LASR)2025-11-06 21:24Financial Performance - nLIGHT reported third quarter 2025 revenues of $66.7 million, an increase of 18.9% compared to $56.1 million in the same quarter of 2024[3] - The gross margin for the third quarter of 2025 was 31.1%, up from 22.4% in the third quarter of 2024[3] - The net loss for the third quarter of 2025 was $6.9 million, or $0.14 per diluted share, compared to a net loss of $10.3 million, or $0.21 per diluted share, in the third quarter of 2024[3] - Adjusted EBITDA for the third quarter of 2025 was $7.1 million, a significant improvement from a non-GAAP net loss of $994,000 in the same quarter of 2024[3] - The company reported a loss from operations of $7.3 million for the third quarter of 2025, an improvement of 38.1% compared to a loss of $11.8 million in the same quarter of 2024[3] - Net loss for the nine months ended September 30, 2025, was $18,558 thousand, an improvement from a net loss of $35,830 thousand for the same period in 2024, reflecting a reduction of 48.2%[21] - Adjusted EBITDA for the nine months ended September 30, 2025, was $12,775 thousand, compared to a negative $7,487 thousand for the same period in 2024, indicating a significant turnaround[23] - Non-GAAP net income for the three months ended September 30, 2025, was $4,320 thousand, compared to a loss of $3,659 thousand in the same period of 2024[24] Revenue Breakdown - Products revenue for the third quarter of 2025 was $47.6 million, compared to $41.1 million in the same quarter of 2024[17] - Advanced Development revenue for the third quarter of 2025 was $19.1 million, up from $15.0 million in the same quarter of 2024[17] - Revenue from the Aerospace and Defense sector for the three months ended September 30, 2025, was $45,554 thousand, up 50.5% from $30,278 thousand in the same period of 2024[26] - For the fourth quarter of 2025, nLIGHT expects revenues to be in the range of $72 million to $78 million, with a midpoint of $75 million[4] - The company anticipates full year 2025 A&D revenue growth to exceed the prior outlook of at least 40% year-over-year[2] Assets and Liabilities - Total assets increased to $298,693 thousand as of September 30, 2025, up from $270,241 thousand at December 31, 2024, representing a growth of 10.4%[19] - Total current liabilities increased to $40,537 thousand as of September 30, 2025, from $34,235 thousand at December 31, 2024, an increase of 18.5%[19] - Total stockholders' equity increased to $218,493 thousand as of September 30, 2025, from $216,430 thousand at December 31, 2024, a slight increase of 1.0%[19] Cash Flow and Compensation - Cash and cash equivalents increased to $81,108 thousand as of September 30, 2025, compared to $65,829 thousand at December 31, 2024, marking a rise of 23.1%[19] - Cash flows from operating activities provided $3,812 thousand for the nine months ended September 30, 2025, compared to $1,528 thousand in the same period of 2024, an increase of 149.0%[21] - Stock-based compensation for the nine months ended September 30, 2025, was $21,789 thousand, compared to $18,961 thousand for the same period in 2024, reflecting a rise of 9.7%[24] Future Expectations - nLIGHT's overall gross margin for the fourth quarter of 2025 is expected to be in the range of 27% to 32%[4]