Company: IPGP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001111928-25-000168
Chunk: 93

Company: IPG PHOTONICS CORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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 in the three months ended September 30, 2025 of $3.8 million primarily due to increases in uncertain tax positions resulting from tax audit activity. This compares to a net discrete tax detriment of $41.5 million for the three months ended September 30, 2024, which is primarily related to losses on the divestiture of Russian operations. The other discrete items for the three months ended September 30, 2024 did not have a significant impact on our tax rate. 

Net income (loss). Net income (loss) increased by $241.1 million to a net income of $7.5 million for the three months ended September 30, 2025 compared to a net loss of $233.6 million for the three months ended September 30, 2024 due to the factors described above.

Results of Operations for the Nine Months Ended September 30, 2025 Compared to the Nine Months Ended September 30, 2024 

Net sales. Net sales decreased by $13.5 million, or 1.8% to $729.3 million for the nine months ended September 30, 2025 from $742.8 million for the nine months ended September 30, 2024.

The table below sets forth sales by application: 

Nine Months Ended September 30,20252024Change(In thousands, except for percentages)Sales by Application% of Total% of TotalMaterials processing$627,397 86.0 %$659,201 88.7 %$(31,804)(4.8)%Other applications101,909 14.0 %83,596 11.3 %18,313 21.9 %Total$729,306 100.0 %$742,797 100.0 %$(13,491)(1.8)%

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The table below sets forth sales by type of product and other revenue:

Nine Months Ended September 30,20252024Change(In thousands, except for percentages)Sales by Product% of Total% of TotalHigh Power CW Lasers$222,121 30.5 %$254,343 34.2 %$(32,222)(12.7)%Medium Power CW Lasers66,274 9.1 %47,082 6.3 %19,192 40.8 %Pulsed Lasers108,793 14