Company: IPGP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001111928-25-000168
Chunk: 95

Company: IPG PHOTONICS CORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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4.0 million in personnel and related expenses, and an increase of $2.8 million in amortization expense, partially offset by a decrease of $1.0 million in premises expenses. As a percentage of sales, sales and marketing expense increased to 10.1% from 9.1% for the nine months ended September 30, 2025 and 2024, respectively.

Research and development expense. Research and development expense increased by $4.6 million, or 5.5%, to $88.6 million for the nine months ended September 30, 2025, compared to $84.0 million for the nine months ended September 30, 2024. This change was primarily the result of an increase of $3.4 million in personnel and related expenses, and an increase of $2.4 million in consultant fees, partially offset by a decrease of $0.7 million in lease expense. As a percentage of sales, research and development expense increased to 12.2% from 11.3% for the nine months ended September 30, 2025 and 2024, respectively.

General and administrative expense. General and administrative expense increased by $7.4 million, or 7.8%, to $102.8 million for the nine months ended September 30, 2025 from $95.4 million for the nine months ended September 30, 2024. This change was primarily the result of an increase of $10.5 million in personnel and related expenses, and an increase of $0.5 million in information systems costs, partially offset by a decrease of $1.1 million in premises expenses, a decrease of $0.9 million in legal expense, and a decrease of $0.8 million in bad debt expense. As a percentage of sales, general and administrative expense increased to 14.1% from 12.8% for the nine months ended September 30, 2025 and 2024, respectively.

Net loss from divestiture and sale of assets. During the nine months ended September 30, 2024 we incurred a net loss from divestiture and sale of assets of $190.2 million. The loss was primarily related to the divestiture of our Russian operations for $197.7 million, partially offset by a gain on sale of assets of $7.5 million related to the sales of a building and land in the U.S. and a building in the U.K