Company: LASR
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001124796-25-000053
Chunk: 17

Company: NLIGHT, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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374 $10,659 $715 6.7 %

The increase in research and development expense for the three months ended March 31, 2025 compared to the same period in 2024 was driven by an increase in project-related expenses, incentive compensation, and an increase in stock-based compensation of $0.2 million, partially offset by a decrease in employee compensation due to a reduction in headcount. 

Sales, General and Administrative

Three Months Ended March 31,Change20252024$%Sales, general, and administrative$12,035 $11,547 $488 4.2 %

The increase in sales, general and administrative expense for the three months ended March 31, 2025 compared to the same period in 2024 was primarily due to an increase in stock-based compensation of $0.4 million, an increase in incentive compensation, and an increase in employee compensation, partially offset by recoveries of bad debt from the prior year.  

20

Interest Income, net

Three Months Ended March 31,Change20252024$%Interest income, net$1,640 $455 $1,185 260.4%

The increase in interest income, net, for the three months ended March 31, 2025 compared to the same period in 2024 was driven primarily by an increase in income earned from marketable securities and imputed interest on a long-term customer receivable.

Interest income is primarily earned from our marketable securities (U.S. treasuries), recognized using the effective yield method, and cash equivalents (money market securities). Interest expense on the line of credit (LOC) was immaterial for the three months ended March 31, 2025 due to the timing of the draw.

Beginning with the three months ended March 31, 2025, income earned from marketable securities is classified within interest income, net, rather than other income, net. This prospective change in presentation more accurately reflects the nature of the income and has no impact on total net income.

Other Income, net

Three Months Ended March 31,Change20252024$%Other income, net$14 $641 $(627)(97.8)%

Other income, net is primarily attributable to changes in net realized and unrealized foreign exchange transactions resulting from currency rate fluctuations.

The prospective classification change for income earned from marketable securities referenced above is the primary factor contributing to the year-over-year variance for other income, net from