Company: IPGP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001111928-25-000168
Chunk: 28

Company: IPG PHOTONICS CORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 for uncollectible accounts receivable. As of September 30, 2025 and December 31, 2024, the allowance for credit losses on trade receivables was $2,565 and $2,462, respectively.The following table presents the effective maturity dates of debt investments, which are held-to-maturity:September 30, 2025December 31, 2024Book ValueFair ValueBook ValueFair ValueInvestment maturityLess than 1 year$524,359 $524,652 $310,152 $310,057 1 - 5 years30,166 30,170 — — Total$554,525 $554,822 $310,152 $310,057 

5. INVENTORIES

Inventories consist of the following:September 30,December 31, 20252024Components and raw materials$156,637 $150,257 Work-in-process44,116 28,973 Finished goods123,181 105,550 Total$323,934 $284,780 The Company recorded inventory provisions totaling $5,705 and $43,408 for the three months ended September 30, 2025 and 2024, respectively, and $23,014 and $70,259 for the nine months ended September 30, 2025 and 2024 respectively. These provisions relate to the recoverability of the value of inventories due to technological changes and excess quantities.  For the three and nine months ended September 30, 2024, the Company recorded additional inventory provisions of $29,487 attributed to items previously considered safety stock and items that became technologically obsolete. These provisions are reported as a reduction to components and raw materials, work-in-process and finished goods.

6. BUSINESS COMBINATION

During the fourth quarter of 2024, the Company acquired 100% of the shares of Clean‐Lasersysteme GmbH ("cleanLASER") a leader in laser cleaning systems for $66,738, net of cash acquired. The purchase price allocations included in the Company's Condensed Consolidated Financial Statements are not complete, pending finalization of a net working capital adjustment to the purchase price in the fourth quarter of 2025.

7. GOODWILL AND INTANGIBLES

The following table sets forth the changes in the carrying amount of goodwill:Nine Months Ended September 30,20252024Balance, beginning of period$67,