nLIGHT (LASR) CL King’s 22nd Annual Best Ideas Conference summary

Business overview and technology

• Operates as a vertically integrated, dual-use technology company specializing in high-power semiconductor and fiber lasers for industrial, microfabrication, and aerospace & defense markets.

• Global presence with facilities in the U.S., Europe, and Asia; current revenue run rate is about $210 million with over $100 million in cash and no debt.

• Manufactures core components in-house, including gallium arsenide wafer fabrication and fiber drawing, enabling control over the full value chain.

Market applications and innovation

• Microfabrication lasers serve semiconductor equipment, laser marking, and medical applications, often as energy sources for other pulse lasers.

• Industrial lasers are used for metal cutting, welding, and additive manufacturing, with proprietary programmable beam shaping technology offering flexibility and productivity gains.

• Additive manufacturing is the fastest-growing industrial segment, with programmable lasers enabling significant productivity improvements in metal 3D printing.

Aerospace and defense (A&D) segment

• A&D is a critical growth area, with lasers used in space, countermeasures, missile guidance, and high-power directed energy applications.

• Directed energy business includes contracts for high-power lasers (e.g., $50M for 300kW, $171M for 1MW systems), with opportunities from U.S. and international defense spending.

• Laser sensing is another A&D focus, with recent $25M contract and expectations for further growth in ruggedized laser applications.