nLIGHT (LASR) TD Cowen 47th Annual Aerospace & Defense Conference summary

Company overview and technology stack

• Vertically integrated high-power laser manufacturer with facilities in the Pacific Northwest and Colorado, producing semiconductor chips through to complete laser subsystems.

• Technology stack includes gallium arsenide semiconductor wafers, fiber-coupled lasers, and coherent beam-combining modules for directed energy systems.

• Dual-use focus on both commercial/industrial and defense applications, with recent growth driven by defense markets.

Core application areas and market focus

• Key focus areas: directed energy (counter-drone, missile defense), sensing (LiDAR, ISR), and advanced manufacturing (laser additive manufacturing for hypersonics and rocket engines).

• Vertically integrated approach enables rapid technology evolution and differentiation, especially in coherent beam combining for high-power lasers.

• Highest power laser in the world at over 300 kW, scaling to 1 MW, with significant advantages in range and dwell time.

• Sensing applications include long-standing programs of record, space-qualified lasers, and stealthy, high-resolution ISR capabilities.

• Additive manufacturing lasers are critical for mission-critical aerospace parts and are also used in automotive and other industries.

Financial strategy and capital allocation

• Recent capital raise totaled $200 million, bringing the balance sheet to over $250 million.

• Capital is allocated to investing ahead of programs of record, expanding product development, CapEx, and potential M&A opportunities.

• Previous acquisition of a Colorado company was transformative, enabling key technology integration and growth.

• Expansion includes a new facility in Longmont to support concurrent system builds and meet anticipated demand.