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nLIGHT (LASR) investor relations material
nLIGHT Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 revenue reached $66.7 million, up 19% year-over-year and 8% sequentially, driven by record Aerospace & Defense (A&D) sales and favorable product mix.
Gross margin expanded to 31.1% in Q3 2025, up from 22.4% year-over-year, with product gross margin at a record 41%.
Adjusted EBITDA was $7.1 million, a significant improvement from a loss last year.
Non-GAAP net income was $4.3 million, or $0.08 per diluted share, reversing a non-GAAP net loss a year ago.
Net loss for Q3 2025 was $6.9 million, improved from $10.3 million in Q3 2024.
Financial highlights
Products revenue was $47.6 million (+16% y/y); Development revenue was $19.1 million (+28% y/y).
Free cash flow was positive, with $5.2 million generated from operations; cash and equivalents totaled $116 million.
Cash and marketable securities totaled $115.8 million at quarter-end.
Operating cash flow for the nine months ended September 30, 2025, was $3.8 million.
Interest income increased due to higher marketable securities balances; $20 million drawn from the line of credit.
Outlook and guidance
Q4 2025 revenue expected between $72 million and $78 million, with A&D sequential growth anticipated.
Q4 gross margin expected between 27%-32%; product gross margin 34%-39%; development/advanced development gross margin ~8%.
Adjusted EBITDA for Q4 forecasted in the $6 million-$11 million range.
Full-year 2025 A&D revenue growth projected to exceed prior outlook of at least 40% year-over-year.
Existing liquidity expected to be sufficient for at least the next 12 months, with ongoing R&D investments.
Strategy for Industrial/Microfabrication declines?
What drives low Advanced Development gross margin?
How is operating leverage impacting cash flow?
Detail programs offsetting HELSI-2 revenue decline
Commercial market decline drivers for 2026?
How does amplifier production impact future margins?
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Q4 202527 Feb, 2026
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Frequently asked questions
nLIGHT Inc designs and manufactures high-power semiconductor and fiber lasers for industrial, aerospace, and defense applications. The company’s products are used in metal cutting, welding, directed energy, and 3D printing systems. It serves global OEMs and system integrators. The company is headquartered in Camas, Washington, and its shares are listed on the NASDAQ.
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