Company: LASR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001124796-25-000021
Chunk: 55

Company: NLIGHT, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 55
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 Inputs: Observable inputs, other than Level 1 prices, such as quoted prices in active markets for similar assets and liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.•Level 3 Inputs: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.Our financial instruments that are carried at fair value consist of Level 1 assets which include highly liquid investments and bank drafts classified as cash equivalents and marketable securities.Our fair value hierarchy for our financial instruments was as follows (in thousands):December 31, 2024Level 1Level 2Level 3TotalCash Equivalents:  Money market securities $20,488 $— $— $20,488   Commercial paper1,773 — — 1,773 22,261 — — 22,261 Marketable Securities:  U.S. treasuries34,868 — — 34,868 Total$57,129 $— $— $57,129 December 31, 2023Level 1Level 2Level 3TotalCash Equivalents:  Money market securities$22,441 $— $— $22,441   Commercial paper1,995 — — 1,995 24,436 — — 24,436 Marketable Securities:  U.S. treasuries59,672 — — 59,672 Total$84,108 $— $— $84,108 Cash EquivalentsThe fair value of cash equivalents is determined based on quoted market prices for similar or identical securities.Marketable SecuritiesWe classify our marketable securities as available-for-sale and value them utilizing a market approach that uses observable inputs without applying significant judgment.

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Note 7 - Inventory

Inventory is stated at the lower of average cost (principally standard cost, which approximates actual cost on a first-in, first-out basis) and net realizable value. Inventory includes raw materials and components that may be specialized in nature and subject to obsolescence. On a quarterly basis, we review inventory quantities on hand in comparison to our past consumption, recent purchases, and other factors to determine what inventory quantities, if any, may not be sellable. Based