Company: IPGP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001111928-25-000168
Chunk: 37

Company: IPG PHOTONICS CORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 Months Ended September 30,Nine Months Ended September 30, 2025202420252024 (In thousands, except per share data)Net sales$250,792 $233,143 $729,306 $742,797 Cost of product sold and other expenses (a)122,488 139,565 350,016 371,510 Manufacturing, service and other operations salaries, bonus, and benefits, including contractor costs72,953 61,655 211,273 200,793 Other manufacturing expenses (b)33,573 31,105 94,318 97,802 Capitalized labor and overhead(77,227)(53,271)(208,691)(175,119)Cost of sales151,787 179,054 446,916 494,986 Gross profit99,005 54,089 282,390 247,811 Sales and marketing, research and development and general and administrative (c)89,221 82,070 265,166 247,183 Income (loss) before foreign exchange and other segment items9,784 (27,981)17,224 628 Loss on foreign exchange(1,504)(1,148)(7,013)(6,067)Interest income, net7,283 11,103 22,728 38,058 Provision for income taxes(8,191)8,920 (16,714)(5,441)Other segment items (d)91 (224,488)1,601 (216,519)Net income (loss)$7,463 $(233,594)$17,826 $(189,341)(a) Includes cost of materials, labor and overhead, shipping costs, scrap, and inventory reserves.(b) Includes depreciation and amortization, service, warranty, and other manufacturing expenses.(c) Sales and marketing, research and development and general and administrative expenses are disclosed by period in the Company's Condensed Consolidated Statements of Operations.(d) Other segment items include net loss from divestiture and sale of assets, impairment of long-lived assets, restructuring charges and other income (expense), net.

16

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 

You should read the following discussion in conjunction with our Condensed Consolidated Financial Statements and related notes included elsewhere in this Quarterly Report on Form 10-Q