Company: IPGP
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001111928-25-000132
Chunk: 114

Company: IPG PHOTONICS CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 114
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 as a percentage of our net sales was 15% for the six months ended June 30, 2025 and 13% for the full years ended December 31, 2024 and 2023, respectively. One of our customers accounted for 15% and 12% of our net accounts receivable as of June 30, 2025 and December 31, 2024, respectively. We seek to add new customers and to expand our relationships with existing customers. We anticipate that the composition of our significant customers will continue to change. We generally do not enter into agreements with our customers obligating them to purchase a fixed number or large volume of our products. If any of our significant customers substantially reduced their purchases from us, our results would be adversely affected.

Results of Operations for the Three Months Ended June 30, 2025 Compared to the Three Months Ended June 30, 2024

Net sales. Net sales decreased by $6.9 million, or 2.7%, to $250.7 million for the three months ended June 30, 2025 from $257.6 million for the three months ended June 30, 2024.

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The table below sets forth sales by application: 

Three Months Ended June 30,20252024Change(In thousands, except for percentages)Sales by Application% of Total% of TotalMaterials processing$212,252 84.7 %$225,773 87.6 %$(13,521)(6.0)%Other applications38,469 15.3 %31,872 12.4 %6,597 20.7 %Total$250,721 100.0 %$257,645 100.0 %$(6,924)(2.7)%

The table below sets forth sales by type of product and other revenue:

Three Months Ended June 30,20252024Change(In thousands, except for percentages)Sales by Product% of Total% of Total High Power Continuous Wave ("CW") Lasers $76,153 30.4 %$82,225 31.9 %$(6,072)(7.4)% Medium Power CW Lasers 20,743 8.3 %15,758 6.1 %4,985 31.6 % Pulsed Lasers 37,973 15.1