Company: LASR
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001124796-25-000154
Chunk: 31

Company: NLIGHT, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 31
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 (LOC) with Banc of California dated September 24, 2018, which is secured by our assets and matures on September 24, 2027. The LOC agreement contains restrictive and financial covenants and bears an unused credit fee of 0.25% on an annualized basis. The interest rate of 6.25% on the LOC at September 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 September 30, 2025. Interest expense on the LOC was $0.3 million and $0.8 million for the three and nine months ended September 30, 2025, respectively. As of September 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 ofSeptember 30, 2025December 31, 2024Accrued payroll and benefits$15,061 $9,751 Product warranty, current3,103 2,454 Other accrued expenses823 1,063 $18,987 $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):Nine Months Ended September 30, 20252024Product warranty liability, beginning$3,473 $4,469 Warranty charges incurred, net(2,295)(3,492)Provision for warranty charges, net of adjustments3,091 2,597 Product warranty liability, ending4,269 3,574 Less: current portion of product warranty liability(3,103)(2,