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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
nLIGHT
nLIGHT (LASR) investor relations material
nLIGHT Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue was $73.8M, up 10.5% YoY and down 11% QoQ, exceeding guidance despite supply constraints that deferred ~$15M in product shipments.
Record product gross margin and disciplined non-GAAP operating expenses supported $11.1M Adjusted EBITDA.
Demand and opportunity pipelines remained strong across directed energy, laser sensing, kinetic systems and advanced manufacturing.
Financial highlights
Q3 revenue was $73.8M vs. $66.7M in Q3 2025 and $82.6M in Q2 2026; product revenue was $48.0M and development revenue $25.7M.
GAAP net loss was $7.2M, or $0.12 per share, vs. $6.9M and $0.14 per share; non-GAAP net income was $10.2M, or $0.16 diluted EPS, vs. $4.3M and $0.08.
Adjusted EBITDA was $11.1M vs. $7.1M in Q3 2025 and $10.7M in Q2 2026.
Nine-month revenue grew 31.3% to $236.5M; net loss narrowed to $7.9M from $18.6M.
Q3 operating loss was $9.2M vs. $7.3M; gross profit was $24.4M vs. $20.8M.
Outlook and guidance
Q4 2026 revenue guidance is $84M–$90M, with $87M midpoint: $63M Products and $24M Advanced Development.
Q4 guidance excludes ~$15M of product shipments deferred to H1 2027; expected supply supports Q4 demand but not the deferred backlog.
Q4 gross margin guidance is 30%–36% overall, 40%–46% for products and ~8% for Advanced Development; Adjusted EBITDA guidance is $12M–$18M.
Existing liquidity sources are expected to cover working capital and capital expenditure needs for at least 12 months.
Firm fixed-price contract obligations totaled $19.3M; 19% is expected to be recognized by year-end 2026, with the remainder by year-end 2027.
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Latest events from nLIGHT
- Record revenue, strong defense growth, and robust cash flow offset supply chain headwinds.LASR
Q2 2026 - Growth driven by advanced laser tech, dual-use strategy, and strong defense sector momentum.LASR46th Annual William Blair Growth Stock Conference
- All proposals passed, including director election and auditor ratification, with no Q&A.LASRAGM 2026
- Q1 2026 revenue up 55% to $80.2M, net income $0.6M, and liquidity boosted by $191M equity raise.LASRQ1 2026
- Virtual meeting on June 5, 2026, to vote on director, auditor, and executive pay proposals.LASRProxy filing
- Record revenue, margin expansion, and strategic focus on defense drive key 2026 proxy votes.LASRProxy filing
- Record A&D-driven revenue and margin gains set the stage for continued growth in 2026.LASRQ4 2025
- Shift to defense and additive manufacturing, with $300M+ backlog and advanced laser tech.LASRThe Stifel 2024 Cross Sector Insight Conference
- Defense and aerospace growth offsets Q4 shortfall; strong cash position supports future expansion.LASR27th Annual Needham Growth Conference
Next nLIGHT earnings date
Q4 202625 Feb, 2027
nLIGHT
Next nLIGHT earnings date
Q4 202625 Feb, 2027
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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.