Company: LASR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001124796-25-000021
Chunk: 59

Company: NLIGHT, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 59
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in thousands): 2025$2,786 20262,087 20272,005 20281,699 20291,028 Thereafter4,417 Total minimum lease payments14,022 Less: interest(1,889)Present value of net minimum lease payments12,133 Less: current portion of lease liabilities(2,314)Total long-term lease liabilities$9,819 

Note 14 - Restructuring

During the fourth quarter of 2024 and 2023, we implemented restructuring plans which included headcount reduction in China. During the fourth quarter of 2022, we implemented a restructuring plan which included headcount reductions in both the U.S. and China and the write-down of in-process capital equipment projects related to production capacity that was never placed into service. Restructuring charges were as follows (in thousands):Year Ended December 31,202420232022Employee termination costs$4,228 $737 $1,271 Write-down of long-lived assets— — 2,566 Other63 79 55 Total restructuring charges$4,291 $817 $3,892 Restructuring accruals and payments were as follows (in thousands):Accrued restructuring charges at December 31, 2022$192 Restructuring charges817Cash payments(1,009)Non-cash settlements—Accrual at December 31, 2023— Restructuring charges4,291Cash payments(3,107)Non-cash settlements(63)Accrual at December 31, 2024$1,122 The restructuring accrual was included as a component of Accrued Liabilities on our Consolidated Balance Sheets. All of the restructuring charges recorded in 2024 and 2023 were attributable to the Laser Products segment. 

53

Approximately $3.8 million of the charges recorded in 2022 were attributable to the Laser Products segment, with the remaining $0.1 million attributable to the Advanced Development segment. 

Note 15 - Income Taxes 

Loss before income taxes was as follows (in thousands):  Year Ended December 31,202420232022Domestic$(62,368)$(46,602)$(50,611)Foreign1,500 3,954 (3,624)Loss before income taxes$(60,868)$(42,648)$(54,235)Income tax (benef