Company: LASR
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001124796-25-000154
Chunk: 7

Company: NLIGHT, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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1 %

Nine Months Ended September 30, 2025Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$48,978 $5,814 $(1,783)$53,009 Gross margin39.5 %10.4 %NM*29.4 %

Three Months Ended September 30, 2024Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$12,475 $704 $(629)$12,550 Gross margin30.3 %4.7 %NM*22.4 %

Nine Months Ended September 30, 2024Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$30,261 $3,456 $(1,829)$31,888 Gross margin28.8 %7.5 %NM*21.1 %

*NM = not meaningful

23

The increase in Laser Products gross margin for the three and nine months ended September 30, 2025 compared to the same periods in 2024 were driven primarily by product sales mix including increased sales of directed energy laser products, and the impact of increased production volumes on fixed manufacturing costs due to the overall increase in sales as previously discussed. The first nine months of 2025 also benefited from an increase in duty reclaim and manufacturing yields. 

The increase in Advanced Development gross margin for the nine-months ended September 30, 2025 compared to the same period in 2024 was primarily the result of an increase in revenue from fixed priced contracts that carried higher average gross margins than cost-plus fixed fee contracts. The decrease in Advanced Development gross margin for the three-months ended September 30, 2025 compared to the same period in 2024 is attributable to changes in the mix of research and development contracts as most of the revenue for the three months ended September 30, 2025 was from cost-plus fixed fee contracts.  

Operating Expenses  

Our operating expenses were as follows for the periods presented (dollars in thousands):

Research and Development

Three Months Ended September 30,Change20252024$%Research and development$11,534 $11,328 $206 1.8 %

Nine Months Ended September 30,Change20252024Amount%Research and development$33,920 $33,723 $197 0.6 %

The increases in research and development expense for the three and nine months ended September 30, 202