Company: LASR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001124796-25-000021
Chunk: 78

Company: NLIGHT, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 78
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 equivalents held in interest-bearing accounts.

Other Income, net

Year Ended December 31,Change20242023Amount%Other income, net$3,100 $2,776 $324 11.7 

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Table of  Contents

Year Ended December 31,Change20232022Amount%Other income, net$2,776 $338 $2,438 721.3 

The increases in other income, net, in 2024 compared to 2023 and in 2023 compared to 2022 were driven by realized gains on the sale of marketable securities. 

Income Tax Expense (Benefit)  

Year Ended December 31,Change20242023Amount%Income tax benefit$(76)$(978)$902 92.2 

Year Ended December 31,Change20232022Amount%Income tax expense (benefit)$(978)$344 $(1,322)(384.3)

We record income tax expense for taxes in our foreign jurisdictions including Finland, Italy, Austria, and South Korea. While our tax expense is largely dependent on the geographic mix of earnings related to our foreign operations, we also record tax expense for uncertain tax positions taken and associated penalties and interest. We consider all available evidence, both positive and negative, in assessing the extent to which a valuation allowance should be applied against our deferred tax assets. Due to the uncertainty with respect to their ultimate realizability, we continue to maintain a full valuation allowance on deferred tax assets in the United States, and a partial valuation allowance in China as of December 31, 2024. Our effective tax rate may vary from period to period based on changes in estimated taxable income or loss by jurisdiction, changes to the valuation allowance, changes to U.S. federal, state or foreign tax laws, future expansion into areas with varying country, state, and local income tax rates and deductibility of certain costs and expenses by jurisdiction.

The income tax benefit in 2024 was the result of a partial valuation allowance release in China during the fourth quarter of 2024, offset partially by income tax expense from other foreign tax jurisdictions. The decrease in overall income tax benefit for 2024 compared to 2023, and decrease in expense for 2023 compared to 2022, was driven by a discrete tax benefit related to expiring statutes of limitations of unrecognized tax positions recorded in the second quarter of 2023.

Liquidity and Capital Resources

Total cash and cash equivalents, restricted cash and