Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 24

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 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. 

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

The following tables represent a disaggregation of revenue from contracts with customers:Three Months Ended March 31,20252024Sales by ApplicationMaterials processing$195,718 $226,365 Other applications32,075 25,644 Total$227,793 $252,009 Three Months Ended March 31,20252024Sales by Product High Power Continuous Wave ("CW") Lasers $69,415 $90,793  Medium Power CW Lasers 24,396 16,214  Pulsed Lasers 36,661 34,819  Quasi-Continuous Wave ("QCW") Lasers 10,894 15,791  Laser and Non-Laser Systems 33,054 37,503  Other Revenue including Other Lasers, Amplifiers, Service, Parts, Accessories and Change in Deferred Revenue 53,373 56,889 Total$227,793 $252,009 Sales by GeographyNorth America$56,372 $63,964 Europe:Germany24,703 20,019 Other 32,166 59,497 Total Europe56,869 79,516 Asia:China67,858 62,730 Japan11,663 16,698 Other33,175 24,978 Total Asia112,696 104,406 Rest of World1,856 4,123 Total$227,793 $252,009 Timing of Revenue RecognitionGoods and services transferred at a point in time$224,022 $242,527 Goods and services transferred over time3,771 9,482 Total$227,793 $252,009 One of the Company's customers accounted for 16% and 12% of the Company's net accounts receivable as of March 31, 2025 and December 31, 2024, respectively. The Company recognizes revenue over time on contracts for the sale of large scale materials processing systems. The timing of customer payments on these contracts generally