$LASR

NLIGHT, INC.

CIK:0001124796|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue	$ 82,591	$ 61,735	$ 162,772	$ 113,403
Total cost of revenue	56,866	43,278	110,534	81,147
Gross profit	25,725	18,457	52,238	32,256
Operating Expenses [Abstract]
Research and development	13,130	11,012	24,976	22,386
Sales, general, and administrative	16,162	11,681	31,253	23,716
Restructuring	0	0	295	0
Total operating expenses	29,292	22,693	56,524	46,102
Loss from operations	(3,567)	(4,236)	(4,286)	(13,846)
Other income:
Interest income	2,474	1,108	4,036	2,796
Interest expense	(204)	(388)	(504)	(436)
Other income (expense), net	33	(58)	188	(44)
Loss before income taxes	(1,264)	(3,574)	(566)	(11,530)
Income tax expense	75	17	128	154
Net loss	$ (1,339)	$ (3,591)	$ (694)	$ (11,684)
Net loss per share, basic (in dollars per share)	$ (0.02)	$ (0.07)	$ (0.01)	$ (0.24)
Net loss per share, diluted (in dollars per share)	$ (0.02)	$ (0.07)	$ (0.01)	$ (0.24)
Shares used in per share calculations, basic (in shares)	56,983	49,581	55,560	49,338
Shares used in per share calculations, diluted (in shares)	56,983	49,581	55,560	49,338
Products
Total revenue	$ 59,363	$ 40,824	$ 117,565	$ 76,502
Total cost of revenue	34,929	25,105	67,739	48,829
Development
Total revenue	23,228	20,911	45,207	36,901
Total cost of revenue	$ 21,937	$ 18,173	$ 42,795	$ 32,318

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]
Net loss	$ (694)	$ (11,684)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	6,322	6,220
Amortization	382	865
Reduction in carrying amount of right-of-use assets	1,411	169
Provision for losses on (recoveries of) accounts receivable	(36)	(895)
Stock-based compensation	21,849	12,427
Deferred income taxes	9	23
Loss on disposal of property, plant and equipment	47	98
Accrued interest earned on marketable securities	(536)	(597)
Non-cash restructuring charges	50	0
Changes in operating assets and liabilities:
Accounts receivable, net	4,039	(8,546)
Inventory	(2,974)	(6,949)
Prepaid expenses and other current assets	(8,496)	1,285
Other assets, net	499	955
Accounts payable	2,997	3,461
Accrued and other long-term liabilities	(2,180)	3,165
Deferred revenues	9,238	(1,132)
Lease liabilities	(1,327)	(252)
Non-current income taxes payable	(184)	(18)
Net cash provided by (used in) operating activities	30,416	(1,405)
Cash flows from investing activities:
Proceeds from sale of fixed assets	0	443
Purchases of property, plant and equipment	(6,963)	(4,674)
Purchase of marketable securities	(34,173)	(34,288)
Proceeds from maturities and sales of marketable securities	34,918	34,136
Net cash used in investing activities	(6,218)	(4,383)
Cash flows from financing activities:
Proceeds from public offering, net of underwriting discounts	192,194	0
Public offering costs	(919)	0
Proceeds from line of credit	0	20,000
Repayments of line of credit	(20,000)	0
Proceeds from employee stock plan purchases	1,668	1,385
Proceeds from stock option exercises	217	162
Tax payments related to stock award issuances	(190)	(3,061)
Net cash provided by financing activities	172,970	18,486
Effect of exchange rate changes on cash	(106)	287
Net increase in cash, cash equivalents, and restricted cash	197,062	12,985
Cash, cash equivalents, and restricted cash, beginning of period	99,021	66,088
Cash, cash equivalents, and restricted cash, end of period	296,083	79,073
Supplemental disclosures:
Cash paid for interest, net	486	423
Operating cash outflows from operating leases	1,711	1,738
Right-of-use assets obtained in exchange for lease liabilities	(32)	1,222
Accrued purchases of property, equipment and patents	408	332
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	295,761	78,812
Restricted cash	322	261
Total cash, cash equivalents, and restricted cash	$ 296,083	$ 79,073

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 295,761	$ 98,699
Marketable securities	34,686	34,934
Accounts receivable, net of allowances of $488 and $520	46,825	50,836
Inventory	48,230	45,407
Prepaid expenses and other current assets	21,854	13,314
Total current assets	447,356	243,190
Restricted cash	322	322
Lease right-of-use assets	13,571	15,020
Property, plant and equipment, net	42,687	42,114
Goodwill	12,425	12,448
Other assets, net	1,228	2,116
Total assets	517,589	315,210
Current liabilities:
Accounts payable	23,946	20,890
Accrued liabilities	17,289	19,052
Deferred revenues	10,725	1,489
Current portion of lease liabilities	2,787	2,776
Line of credit	0	20,000
Total current liabilities	54,747	64,207
Non-current income taxes payable	5,833	5,902
Long-term lease liabilities	12,056	13,431
Other long-term liabilities	5,050	4,921
Total liabilities	77,686	88,461
Stockholders' equity:
Common stock - $0.0001 par value; 190,000 shares authorized, 57,658 and 51,163 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	17	16
Additional paid-in capital	792,595	578,360
Accumulated other comprehensive loss	(3,452)	(3,064)
Accumulated deficit	(349,257)	(348,563)
Total stockholders’ equity	439,903	226,749
Total liabilities and stockholders’ equity	$ 517,589	$ 315,210