Company: LASR
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001124796-25-000053
Chunk: 9

Company: NLIGHT, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 9
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 are not 

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reasonably certain we will exercise the options at this time. The weighted-average remaining lease term for the lease obligations was 7 years as of March 31, 2025, and the weighted-average discount rate was 4.3%.The components of lease expense related to operating leases were as follows (in thousands):Three Months Ended March 31,20252024Lease expense:Operating lease expense$816 $919 Short-term lease expense44 69 Variable and other lease expense273 244 $1,133 $1,232 Future minimum payments under our non-cancelable lease obligations were as follows as of March 31, 2025 (in thousands): 2025$2,370 20262,638 20272,246 20281,749 20291,028 Thereafter4,417 Total minimum lease payments14,448 Less: interest(1,826)Present value of net minimum lease payments12,622 Less: current portion of lease liabilities(2,533)Total long-term lease liabilities$10,089 

Note 14 - Segment Information 

We operate in two reportable segments consisting of the Laser Products segment and the Advanced Development segment. We organize our business segments based on the nature of products and services offered.Laser ProductsThis segment includes high-power semiconductor lasers and fiber lasers that are typically integrated into laser systems or manufacturing tools built by our customers. This segment also includes fiber amplifiers and beam combination and control systems for use in high-energy laser (HEL) systems in directed energy applications, and laser sensing products used in a wide range of defense applications.Advanced DevelopmentThis segment focuses on research, design, and prototyping of next-generation laser technologies for the defense industry, including the development of custom high-power fiber lasers and advanced beam combining technologies.Selected Financial Data by Business SegmentOur Chief Executive Officer serves as the chief operating decision maker (CODM) and is responsible for reviewing segment performance and making decisions regarding resource allocation. Our CODM uses metrics such as revenue, gross profit, and gross margin to evaluate each segment's performance by comparing the metrics to historical results and previously forecasted financial information. Our CODM does not evaluate operating segments using asset or liability information. The following table summarizes the operating results by reportable segment for the periods presented (dollars in thousands):

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Three Months Ended March 31, 2025Laser ProductsAdvanced DevelopmentCorporate and OtherTotalsRevenue$35,678 $