Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 19

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 19
---
 Corporation equity2,060,442 2,024,471 Total liabilities and equity$2,317,348 $2,289,264 

See notes to Condensed Consolidated Financial Statements.

1

Table of Contents

IPG PHOTONICS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSThree Months Ended March 31,20252024(In thousands, except per share data)Net sales$227,793 $252,009 Cost of sales137,981 154,473 Gross profit89,812 97,536 Operating expenses:Sales and marketing24,430 22,998 Research and development28,336 29,381 General and administrative32,808 31,158 Gain on sale of assets— (6,776)Loss on foreign exchange2,411 1,675 Total operating expenses87,985 78,436 Operating income1,827 19,100 Other income, net:Interest income, net7,444 14,177 Other income, net1,344 325 Total other income8,788 14,502 Income before provision for income taxes 10,615 33,602 Provision for income taxes6,857 9,503 Net income$3,758 $24,099 Net income per common share:Basic$0.09 $0.52 Diluted$0.09 $0.52 Weighted average common shares outstanding:Basic42,605 45,960 Diluted42,832 46,175 

See notes to Condensed Consolidated Financial Statements.

2

Table of Contents

IPG PHOTONICS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOMEThree Months Ended March 31,20252024(In thousands)Net income$3,758 $24,099 Other comprehensive income (loss), net of tax:Foreign currency translation adjustments and other27,129 (17,728)Total other comprehensive income (loss)27,129 (17,728)Comprehensive income$30,887 $6,371 

See notes to Condensed Consolidated Financial Statements.

3

IPG PHOTONICS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSThree Months Ended March 31,20252024(In thousands)Cash flows from operating activities: