Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 18

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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ITEM 1. UNAUDITED INTERIM FINANCIAL STATEMENTS

IPG PHOTONICS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETSMarch 31,December 31, 20252024(In thousands, except share and per share data)ASSETSCurrent assets:Cash and cash equivalents$363,046 $620,040 Short-term investments563,832 310,152 Accounts receivable, net176,909 171,131 Inventories287,623 284,780 Prepaid income taxes16,955 17,592 Prepaid expenses and other current assets35,022 27,300 Total current assets1,443,387 1,430,995 Deferred income taxes, net109,232 115,031 Goodwill68,617 67,241 Intangible assets, net54,297 55,376 Property, plant and equipment, net603,271 588,375 Other assets38,544 32,246 Total assets$2,317,348 $2,289,264 LIABILITIES AND EQUITYCurrent liabilities:Accounts payable$37,923 $35,385 Accrued expenses and other current liabilities152,829 152,048 Income taxes payable6,282 17,586 Total current liabilities197,034 205,019 Other long-term liabilities and deferred income taxes59,872 59,774 Total liabilities256,906 264,793 Commitments and contingencies (Note 11)IPG Photonics Corporation equity:Common stock, $0.0001 par value, 175,000,000 shares authorized; 56,813,839 and 42,729,426 shares issued and outstanding, respectively, at March 31, 2025; 56,632,974 and 42,548,561 shares issued and outstanding, respectively, at December 31, 2024.6 6 Treasury stock, at cost, 14,084,413 shares held at both March 31, 2025 and December 31, 2024. (1,505,216)(1,505,321)Additional paid-in capital1,040,264 1,035,285 Retained earnings2,617,626 2,613,868 Accumulated other comprehensive loss(92,238)(119,367)Total IPG Photonics