Company: LASR
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001124796-25-000120
Chunk: 43

Company: NLIGHT, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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 June 30, 2025Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$28,841 $4,583 $(1,168)$32,256 Gross margin37.7 %12.4 %NM*28.4 %

Three Months Ended June 30, 2024Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$11,106 $1,403 $(659)$11,850 Gross margin32.2 %8.7 %NM*23.5 %

Six Months Ended June 30, 2024Laser ProductsAdvanced DevelopmentCorporate and OtherTotalGross profit$17,786 $2,752 $(1,200)$19,338 Gross margin27.9 %8.8 %NM*20.3 %

*NM = not meaningful

22

The increase in Laser Products gross margin for the three and six months ended June 30, 2025 compared to the same periods in 2024 were driven primarily by product sales mix and the impact of increased production volumes on fixed manufacturing costs due to the overall increase in sales as previously discussed. The first six months of 2025 also benefited from an increase in duty reclaim and manufacturing yields. The increase in Advanced Development gross margin for the three and six months ended June 30, 2025 compared to the same periods in 2024 were primarily the result of an increase in revenue from fixed priced contracts that carried higher average gross margins than 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 June 30,Change20252024$%Research and development$11,012 $11,736 $(724)(6.2)%

Six Months Ended June 30,Change20252024Amount%Research and development$22,386 $22,395 $(9)— %

The decreases in research and development expense for the three and six months ended June 30, 2025 compared to the same periods in 2024 were primarily attributable to decreases in employee compensation due to reductions in headcount, decreases in outside services and decreases in stock-based compensation of $0.3 million and $0.2 million for the three and six months ended June 30, 2025, respectively, partially offset by increases in incentive compensation and project related expenses. 

Sales, General and Administrative