Company: LASR
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001124796-25-000154
Chunk: 36

Company: NLIGHT, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 36
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 value of net minimum lease payments11,309 Less: current portion of lease liabilities(2,306)Total long-term lease liabilities$9,003 

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Note 14 - Restructuring

During the three months ended September 30, 2025 we implemented restructuring plans which included headcount reduction in China and the write-down of in-process capital equipment projects related to production capacity that was never placed into service. Restructuring charges were as follows (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Employee termination costs$942 $— $942 $— Write-down of long-lived assets791 — 791 — Total restructuring charges$1,733 $— $1,733 $— Restructuring accruals and payments were as follows (in thousands):Accrued restructuring charges at December 31, 2023$— Restructuring charges4,291Cash payments(3,107)Non-cash settlements(63)Accrual at December 31, 20241,121 Restructuring charges1,733Cash payments(1,380)Non-cash settlements(791)Accrual at September 30, 2025$683 

The restructuring accrual was included as a component of Accrued Liabilities on our Consolidated Balance Sheets. All of the restructuring charges recorded in 2025 were attributable to the Laser Products segment. 

Note 15 - Segment Information 

We operate in two reportable segments consisting of the Laser Products segment and the Advanced Development segment. We organize our business segments based on the nature of products and services offered.Laser ProductsThis segment includes high-power semiconductor lasers and fiber lasers that are typically integrated into laser systems or manufacturing tools built by our customers. This segment also includes fiber amplifiers and beam combination and control systems for use in high-energy laser (HEL) systems in directed energy applications, and laser sensing products used in a wide range of defense applications.Advanced DevelopmentThis segment focuses on research, design, and prototyping of next-generation laser technologies for the defense industry, including the development of custom high-power fiber lasers and advanced beam combining technologies.Selected Financial Data by Business SegmentOur Chief Executive Officer serves as the chief operating decision maker (CODM) and is responsible for reviewing segment performance and making decisions regarding resource allocation. Our CODM uses metrics such as revenue, gross profit, and gross margin to evaluate each segment's performance by