Company: LASR
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001124796-25-000053
Chunk: 6

Company: NLIGHT, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 6
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Note 7 - Intangible Assets and Goodwill

Intangible AssetsThe details of definite lived intangible assets were as follows (in thousands):Estimated useful life(in years) As of March 31, 2025December 31, 2024Development programs2 - 47,200 7,200 Developed technology52,959 2,959 10,159 10,159 Accumulated amortization (9,475)(9,326)$684 $833 Amortization related to intangible assets was as follows (in thousands):Three Months Ended March 31, 20252024Amortization expense$149 $373 Estimated amortization expense for future years is as follows (in thousands):2025$336 2026348 $684 Goodwill  The carrying amount of goodwill by segment was as follows (in thousands):Laser ProductsAdvanced DevelopmentTotalsBalance, December 31, 2024$2,106 $10,248 $12,354 Currency exchange rate adjustment30 — 30 Balance, March 31, 2025$2,136 $10,248 $12,384 

Note 8 - Line of Credit

We have a $40.0 million revolving line of credit (LOC) with Banc of California dated September 24, 2018, which is secured by our assets and matures on September 24, 2027. The LOC agreement contains restrictive and financial covenants and bears an unused credit fee of 0.25% on an annualized basis. The interest rate of 7.0% on the LOC at March 31, 2025 is based on the Prime Rate, minus a margin based on our liquidity levels.During the three months ended March 31, 2025, we drew $20.0 million under the LOC to support working capital and general corporate purposes. As of March 31, 2025, $20.0 million was outstanding on the LOC and we were in compliance with all covenants. The remaining $20.0 million unused portion of the LOC is available for borrowing.

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Note 9 - Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):  As ofMarch 31, 2025December 31, 2024Accrued payroll and benefits$11,351 $9,751 Product warranty, current