Company: LASR
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001124796-25-000154
Chunk: 29

Company: NLIGHT, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 29
---
.Our fair value hierarchy for our financial instruments was as follows (in thousands):September 30, 2025Level 1Level 2Level 3TotalCash Equivalents:  Money market securities $22,447 $— $— $22,447   Commercial paper1,683 — — 1,683 24,130 — — 24,130 Marketable Securities:  U.S. treasuries34,684 — — 34,684 Total$58,814 $— $— $58,814 December 31, 2024Level 1Level 2Level 3TotalCash Equivalents:  Money market securities$20,488 $— $— $20,488   Commercial paper1,773 — — 1,773 22,261 — — 22,261 Marketable Securities:  U.S. treasuries34,868 — — 34,868 Total$57,129 $— $— $57,129 Cash EquivalentsThe fair value of cash equivalents is determined based on quoted market prices for similar or identical securities.Marketable SecuritiesMarketable securities consist primarily of highly liquid investments with original maturities of greater than 90 days when purchased. We classify our marketable securities as available-for-sale, as they represent investments that are available to be sold for current operations, and value them utilizing a market approach that uses observable inputs without applying significant judgment.

10

Note 5 - Inventory

Inventory is stated at the lower of average cost (principally standard cost, which approximates actual cost on a first-in, first-out basis) and net realizable value. Inventory includes raw materials and components that may be specialized in nature and subject to obsolescence. On a quarterly basis, we review inventory quantities on hand in comparison to our past consumption, recent purchases, and other factors to determine what inventory quantities, if any, may not be sellable. Based on this analysis, we write down the affected inventory value for estimated excess and obsolescence charges. At the point of loss recognition, a new, lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. Inventory consisted of the following (in thousands):As ofSeptember 30, 2025December 31,