Company: LASR
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001124796-25-000053
Chunk: 40

Company: NLIGHT, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 40
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 and a $0.5 million decrease in other assets, net.

Net Cash Used in Investing Activities

During the three months ended March 31, 2025, net cash used in investing activities was $2.4 million, which was driven by the net purchase of marketable securities of $0.2 million and capital expenditures of $2.3 million.

Net Cash Provided by Used in Financing Activities

During the three months ended March 31, 2025, net cash provided by financing activities was $18.8 million, which consisted of a draw of $20.0 million from our LOC and proceeds from stock option exercises of $0.1 million, partially offset by taxes paid on the net settlement of stock awards of $1.4 million.  

Credit Facilities 

We have a $40.0 million revolving 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, including a minimum total cash covenant, 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.

Contractual Obligations

Other than the draw of $20.0 million on our LOC, there have been no material changes to our contractual obligations as previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024.

22

Inflation

We do not believe that inflation had a material effect on our business, financial condition or results of operations during the three months ended March 31, 2025. If our costs become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could materially adversely affect our business, financial condition and results of operations.