Key Takeaways LASR's A&D revenue jumped 60% in 2025, with double-digit growth expected in 2026. nLIGHT faces $25M$30M headwind from exiting cutting and welding, pressuring near-term results.LASR margins remain sensitive to mix, utilization, and milestone-driven development revenue timing. nLIGHT (LASR) is entering 2026 with a defense-led growth story that is gaining credibility. Aerospace and defense (A&D) momentum improved through 2025 as late-stage programs progressed and the business mix continued shifti ...