Company: LASR
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001124796-25-000120
Chunk: 26

Company: NLIGHT, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 26
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 recognized over time generally consist of development arrangements that are structured based on our costs incurred. For long-term contracts, we estimate the total expected costs to complete the contract and recognize revenue based on the percentage of costs incurred at period end. Typically, revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred costs represent work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, materials, subcontractors costs, other direct costs, and indirect costs applicable on government and commercial contracts.Contract estimates are based on various assumptions to project the outcome of future events that may span severalyears. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, the performance of subcontractors, and the availability and timing of funding from the customer. Billing under these arrangements generally occurs within one month of the costs being incurred or as milestones are reached.The following tables represent a disaggregation of revenue from contracts with customers for the periods presented (in thousands):    Sales by End MarketThree Months Ended June 30,Six Months EndedJune 30, 2025202420252024Aerospace and Defense40,695 27,390 73,401 49,135 Industrial9,746 12,905 18,602 24,890 Microfabrication11,294 10,216 21,400 21,013 $61,735 $50,511 $113,403 $95,038 Sales by GeographyThree Months Ended June 30,Six Months EndedJune 30, 2025202420252024North America$45,171 $35,640 $81,256 $64,364 Asia Pacific8,662 9,077 17,790 19,111 EMEA(1)7,902 5,794 14,357 11,563 $61,735 $50,511 $113,403 $95,038 (1) EMEA consists of Europe, the Middle East, and Africa.

8

Sales by Timing of RevenueThree Months Ended June 30,Six Months EndedJune 30, 2025202420252024Point in time$40,774 $34,636 $76,454 $63,992 Over time20,961 15,875 36,949