nLIGHT (LASR) Q3 2026 earnings summary

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.