Company: LASR
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001124796-25-000053
Chunk: 34

Company: NLIGHT, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 34
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 trends, global inflationary pressures, and uncertainties related to international trade policy, including tariff actions and regulatory shifts. The U.S. government has recently implemented a new series of tariffs on imported goods, prompting retaliatory tariffs by other countries. We currently procure components from China, which are utilized in our U.S. manufacturing operations as well as in products assembled by our contract manufacturer in Thailand.

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A portion of our sales are generated from products manufactured outside the United States and we sell our products globally. Changing trade dynamics, including newly imposed or proposed tariffs and export controls, could disrupt our supply chain and increase input costs. These trade policy developments did not have a material impact on our financial results for the first quarter of 2025. However, if current trends continue or intensify, we may experience increased cost volatility, operational complexity, and broader economic pressures on our customer base that could have a negative impact on revenue and profitability in the future.

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Results of Operations 

The following table sets forth our operating results as a percentage of revenues for the periods indicated (which may not add up due to rounding):  

Three Months Ended March 31,20252024Revenue:Products69.1 %66.0 %Development30.9 34.0 Total revenue100.0 100.0 Cost of revenue:Products45.9 52.2 Development27.4 31.0 Total cost of revenue73.3 83.2 Gross profit26.7 16.8 Operating expenses:Research and development22.0 23.9 Sales, general, and administrative23.3 26.0 Total operating expenses45.3 49.9 Loss from operations(18.6)(33.1)Other income:Interest income, net3.2 1.0 Other income, net— 1.4 Loss before income taxes(15.4)(30.7)Income tax expense0.3 0.3 Net loss(15.7)%(31.0)%

Revenues by End Market

Our revenues by end market were as follows for the periods presented (dollars in thousands):

Three Months Ended March 31,Change2025% of Revenue2024% of Revenue$%Industrial$8,856 17.2 %$11,985 27.0 %$(3,129)(26.1)%Microfabrication10,106 19.6 10,797