Company: LASR
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001124796-25-000154
Chunk: 43

Company: NLIGHT, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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 energy laser products and progress on existing research and development contracts. The decreases in revenue from the Industrial market for the three and nine months ended September 30, 2025, compared to the same periods in 2024, were primarily the result of decreased unit sales due to lower customer demand and deteriorating market conditions across all regions. The decreases in revenue from the Microfabrication market for the three and nine months ended September 30, 2025 compared to the same periods in 2024 were primarily attributable to a decrease in unit sales of semiconductor lasers. 

Revenues by Segment

Our revenues by segment were as follows for the periods presented (dollars in thousands):

Three Months Ended September 30,Change2025% of Revenue2024% of Revenue$%Laser Products$47,608 71.3 %$41,132 73.3 %$6,476 15.7 %Advanced Development19,134 28.7 14,997 26.7 4,137 27.6 $66,742 100.0 %$56,129 100.0 %$10,613 18.9 %

Nine Months Ended September 30,Change2025% of Revenue2024% of RevenueAmount%Laser Products$124,110 68.9 %$104,960 69.4 %$19,150 18.2 %Advanced Development56,035 31.1 46,207 30.6 9,828 21.3 $180,145 100.0 %$151,167 100.0 %$28,978 19.2 %

The increases in Laser Products revenue for the three and nine months ended September 30, 2025 compared to the same periods in 2024 were the result of increased revenue from the Aerospace and Defense market as discussed above, partially offset by decreases in revenue from the Industrial and the Microfabrication markets. The increases in Advanced Development revenue for the three and nine months ended September 30, 2025, compared to the same periods in 2024, were driven by progress on existing research and development contracts. All Advanced Development revenue is included in the Aerospace and Defense market.

Revenues by Geographic Region

Our revenues by geographic region were as follows for the periods presented (dollars in thousands):

Three Months Ended September 30,Change2025% of Revenue2024% of Revenue