Company: LASR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001124796-25-000021
Chunk: 75

Company: NLIGHT, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 75
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,137)(13.3)%

Geographic revenue information is based on the location to which we deliver our products and services. 

The increase in North America revenue for 2024 compared to 2023 was the result of increased revenue from the Aerospace and Defense market and Microfabrication market, partially offset by decreased revenue from the Industrial market. The decrease in Asia Pacific revenue for 2024 compared to 2023 was the result of decreased revenue from all end markets. The decrease in EMEA revenue for 2024 compared to 2023 was the result of decreased revenue from the Industrial and Microfabrication markets, offset partially by increased revenue from the Aerospace and Defense market.  

The decrease in North America revenue for 2023 compared to 2022 was the result of decreased revenue from the Industrial and Microfabrication markets, partially offset by an increase in revenue from the Aerospace and Defense market. The decrease in Asia Pacific and EMEA revenue for 2023 compared to 2022 was driven by decreases in revenue from the Industrial and Microfabrication markets as discussed above. 

Cost of Revenues and Gross Margin

Cost of Laser Products revenue consists primarily of manufacturing materials, labor, shipping and handling costs, tariffs and manufacturing-related overhead. We order materials and supplies based on backlog and forecasted customer orders. We expense all warranty costs and inventory provisions as cost of revenues. Cost of Advanced Development revenue consists of materials, labor, subcontracting costs, and an allocation of indirect costs including overhead and general and administrative. 

Our gross profit and gross margin were as follows (dollars in thousands):

Year Ended December 31, 2024Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$31,094 $4,363 $(2,438)$33,019 Gross margin22.8 %7.0 %NM*16.6 %

Year Ended December 31, 2023Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$44,891 $3,628 $(2,406)$46,113 Gross margin28.7 %6.8 %NM*22.0 %

Year Ended December 31, 2022Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$50,063 $3,435 $(2,677)$50,821 Gross margin26.0 %7.0 %NM*21.0 %

*NM - Not meaningful.

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