Company: IPGP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001111928-25-000168
Chunk: 67

Company: IPG PHOTONICS CORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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ASU 2025-05"), which provides a practical expedient to apply ASC 326 to current accounts receivable and current contract assets. The practical expedient allows the Company to make a policy election to assume that current conditions as of the balance sheet date will not change for the remaining lives of the 

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Table of ContentsIPG PHOTONICS CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(In thousands, except share and per share data)

assets. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025, and interim reporting periods within those years. The Company is evaluating the impact of this ASU and does not expect that this standard will have a material impact on the Company's financial statements.In September 2025, the FASB issued ASU No. 2025-06, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)" ("ASU 2025-06"), which updates guidance regarding the requirements to begin capitalizing internal-use software. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. The Company is evaluating the impact of this ASU on its financial statements.

3. REVENUE FROM CONTRACTS WITH CUSTOMERS

Sales are derived from products for different applications: fiber lasers, diode lasers, systems and accessories for materials processing; fiber lasers, diodes and amplifiers for advanced applications; and fiber lasers, systems and fibers for medical applications. The following tables represent a disaggregation of revenue from contracts with customers:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Sales by ApplicationMaterials processing$219,427 $207,063 $627,397 $659,201 Other applications31,365 26,080 101,909 83,596 Total$250,792 $233,143 $729,306 $742,797 Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Sales by Product High Power Continuous Wave ("CW") Lasers $76,553 $81,325 $222,121 $254,343  Medium Power CW Lasers 21,135 15,110 66,274 47,082