Company: IPGP
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001111928-25-000132
Chunk: 20

Company: IPG PHOTONICS CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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See notes to Condensed Consolidated Financial Statements.

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Table of Contents

IPG PHOTONICS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOMEThree Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)Net income$6,605 $20,154 $10,363 $44,253 Other comprehensive income (loss), net of tax:Foreign currency translation adjustments and other54,998 3,406 82,127 (14,322)Total other comprehensive income (loss)54,998 3,406 82,127 (14,322)Comprehensive income$61,603 $23,560 $92,490 $29,931 

See notes to Condensed Consolidated Financial Statements.

3

IPG PHOTONICS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSSix Months Ended June 30,20252024(In thousands)Cash flows from operating activities:Net income$10,363 $44,253 Adjustments to reconcile net income to net cash provided by (used in) operating activities:Depreciation and amortization31,167 31,506 Deferred income taxes(1,961)720 Stock-based compensation22,048 18,282 Unrealized loss (gain) on foreign currency transactions2,788 (487)Provisions for inventory, warranty and bad debt22,080 30,365 Amortization of premium/discount on investments(8,308)(13,007)Other2,595 (5,516)Changes in assets and liabilities that (used) provided cash, net of acquisitions:Accounts receivable(23,001)38,460 Inventories(23,837)17,041 Prepaid expenses and other assets(8,516)(7,143)Accounts payable8,940 1,276 Accrued expenses and other liabilities3,788 (28,265)Income and other taxes payable(26,917)(19,431)Net cash provided by operating activities11,229 108,054 Cash flows from investing activities:Purchases of and deposits on property, plant and equipment(40,176)(52,270)Proceeds from sales of property, plant and equipment563 28,274 Purchases of short-term investments(579,814)(301,541