Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 66

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 as follows:Three Months Ended March 31,20252024Non-qualified stock options585,170 592,393 Restricted stock units342,468 239,769 Performance stock units58,872 — Employee stock purchase plan— 9,126 Total weighed average anti-dilutive shares outstanding986,510 841,288 On February 13, 2024, the Company announced that its Board of Directors has authorized the purchase of up to $300,000 of IPG common stock. This authorization is in addition to the Company's previously authorized stock repurchase programs.In the first quarter of 2025, there were no repurchases made by the Company under the February 2024 authorization.  In the first quarter of 2024, the Company repurchased 957,925 shares under the May 2023 authorization with a weighted average price of $92.73 per share in the open market.  The impact on the reduction of weighted average shares for the three months 

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Table of ContentsIPG PHOTONICS CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(In thousands, except share and per share data)

ended March 31, 2024 was 436,884 shares.  As of March 31, 2025, the Company had $50,000 remaining under the February 2024 authorization.

15. SEGMENT REPORTING

The Company operates in one segment which involves the design, development, production and distribution of fiber lasers, laser and non-laser systems, fiber amplifiers, and related optical components. The Company has a single, company-wide management team that administers all properties as a whole rather than as discrete operating segments. The chief operating decision maker ("CODM"), who is the Company's chief executive officer, measures financial performance as a single enterprise, and not on geography, legal entity, or end market basis. Throughout the year, the CODM allocates capital resources on a project-by-project basis across the Company's entire asset base, as reflected in the Company's Condensed Consolidated Balance Sheets, to maximize profitability without regard to geography, legal entity, or end market basis. The Company operates in a number of countries throughout the world in a variety of product lines. Information regarding product lines and geographic financial information is provided in Note 3, "Revenue from Contracts with Customers."The CODM primarily utilizes "Net income," as well as "Net income per common share” included