Company: LASR
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001124796-25-000053
Chunk: 7

Company: NLIGHT, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 7
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2,714 2,454 Other accrued expenses790 1,063 $14,855 $13,268 

Note 10 - Product Warranties  

We provide warranties on certain products and record a liability for the estimated future costs associated with warranty claims at the time revenue is recognized. The warranty liability is based on historical experience, any specifically identified failures, and our estimate of future costs. The current portion of our product warranty liability is included in the accrued liabilities and the long-term portion is included in Other long-term liabilities in our Consolidated Balance Sheets.Product warranty liability activity was as follows for the periods presented (in thousands):Three Months Ended March 31, 20252024Product warranty liability, beginning$3,473 $4,469 Warranty charges incurred, net(712)(760)Provision for warranty charges, net of adjustments1,049 203 Product warranty liability, ending3,810 3,912 Less: current portion of product warranty liability(2,714)(2,868)Non-current portion of product warranty liability$1,096 $1,044 

Note 11 - Stockholders' Equity and Stock-Based Compensation 

Restricted Stock Awards and UnitsRestricted stock unit ("RSU") and restricted stock award ("RSA") activity under our equity incentive plan was as follows:Number of Restricted Stock Units                 (Thousands)Weighted-Average Grant Date Fair ValueBalance, December 31, 20241,904 $12.99 Granted23 10.40 Vested(500)12.06 Forfeited(12)13.90 Balance, March 31, 20251,415 13.27 Number of Restricted Stock Awards (Thousands)Weighted-Average Grant Date Fair ValueBalance, December 31, 202437 $33.66 Balance, March 31, 202537 33.66 The total fair value of RSUs vested during the three months ended March 31, 2025, was $6.0 million. 

11

Market-Based Performance Restricted Stock UnitsPerformance restricted stock units (PRSUs) were granted in 2024, 2023, and 2022 and will vest upon meeting certain performance criteria. No PRSUs were granted, forfeited, or vested during the three months ended March 31, 2025.Stock OptionsThe following table summarizes our stock option activity during the three months ended March 31, 2025: