Company: LASR
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001124796-25-000154
Chunk: 26

Company: NLIGHT, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 26
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 customer contracts. Accordingly, product revenue is recognized upon transfer of control at shipment or delivery, as applicable. Rights of return are evaluated as they occur. Revenues recognized at a point in time consist of sales of semiconductor lasers, fiber amplifiers, fiber lasers and other related products. Revenues recognized over time generally consist of development arrangements that are structured based on our costs incurred. For long-term contracts, we estimate the total expected costs to complete the contract and recognize revenue based on the percentage of costs incurred at period end. Typically, revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred costs represent work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, materials, subcontractors costs, other direct costs, and indirect costs applicable on government and commercial contracts.Contract estimates are based on various assumptions to project the outcome of future events that may span severalyears. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, the performance of subcontractors, and the availability and timing of funding from the customer. Billing under these arrangements generally occurs within one month of the costs being incurred or as milestones are reached.The following tables represent a disaggregation of revenue from contracts with customers for the periods presented (in thousands):    Sales by End MarketThree Months Ended September 30,Nine Months EndedSeptember 30, 2025202420252024Aerospace and Defense45,554 30,278 118,955 79,413 Industrial9,577 11,588 28,179 36,478 Microfabrication11,611 14,263 33,011 35,276 $66,742 $56,129 $180,145 $151,167 Sales by GeographyThree Months Ended September 30,Nine Months EndedSeptember 30, 2025202420252024North America$46,682 $36,332 $127,938 $100,696 Asia Pacific9,280 11,211 27,070 30,322 EMEA(1)10,780 8,586 25,137 20,149 $66,742 $56,129 $180,145 $151,167 (1) EMEA consists of Europe, the Middle East, and Africa.

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Sales by Timing of