Company: LASR
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001124796-25-000120
Chunk: 31

Company: NLIGHT, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 31
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 an annualized basis. The interest rate of 7.0% on the LOC at June 30, 2025 is based on the Prime Rate, minus a margin based on our liquidity levels.During the three months ended March 31, 2025, we drew $20.0 million under the LOC to support working capital and general corporate purposes. We did not make any draws or repayments during the three months ended June 30, 2025. Interest expense on the LOC was $0.4 million for the three and six months ended June 30, 2025. As of June 30, 2025, $20.0 million was outstanding on the LOC and we were in compliance with all covenants. The remaining $20.0 million unused portion of the LOC is available for borrowing.

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Note 9 - Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):  As ofJune 30, 2025December 31, 2024Accrued payroll and benefits$12,605 $9,751 Product warranty, current2,884 2,454 Other accrued expenses823 1,063 $16,312 $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):Six Months Ended June 30, 20252024Product warranty liability, beginning$3,473 $4,469 Warranty charges incurred, net(1,497)(1,880)Provision for warranty charges, net of adjustments2,079 1,037 Product warranty liability, ending4,055 3,626 Less: current portion of product warranty liability(2,884)(2,593)Non-current portion of product warranty liability$1,171 $1,033 

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