NLIGHT, INC. LASR

Technology SIC 3674 - Semiconductors & Related Devices NAICS Manufacturing › Computer and Electronic Product Manufacturing › Semiconductor and Other Electronic Component Manufacturing › Semiconductor and Related Device Manufacturing derived Nasdaq

nLIGHT, Inc. is a leading provider of high‑power lasers for mission-critical directed energy, optical sensing, and advanced manufacturing applications. We design, manufacture, and sell a range of high-power semiconductor lasers and fiber lasers that are typically integrated into laser systems or manufacturing tools built by our customers. We also make high energy pulsed fiber lasers, fiber amplifiers, and beam combination and control systems for use in high-energy laser systems for directed energy and laser sensing systems used in a wide range of defense applications. Our vertical integration enables us to develop products that leverage the same underlying technology, thereby enabling us to offer innovative and reliable products to customers in each of our end markets. We sell our products into three primary end markets: Aerospace and Defense, Industrial, and Microfabrication.

Last close 36.34 2026-10-23
Market cap $2.10B 2026-06-30 share count
52-week range 28.05 - 86.95

Valuation FY2025 figures against the last close

P/S8.0x
P/E—
P/FCF170.5x
EV/EBITDA—
Dividend yield—
Diluted EPS-0.47

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • North America
  • Asia Pacific
  • Emea
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 North America, FY2025: 185.6M (71.0%) 71% North America Asia Pacific, FY2025: 38.4M (14.7%) 15% Asia Pacific Emea, FY2025: 37.3M (14.3%) 14% Emea FY2024 North America, FY2024: 132.8M (66.9%) 67% Asia Pacific, FY2024: 38.1M (19.2%) 19% Emea, FY2024: 27.6M (13.9%) 14% FY2023 North America, FY2023: 129.3M (61.6%) 62% Asia Pacific, FY2023: 45.8M (21.8%) 22% Emea, FY2023: 34.8M (16.6%) 17%
Region FY2025FY2024FY2023
North America $185.6M $132.8M $129.3M
Asia Pacific $38.4M $38.1M $45.8M
Emea $37.3M $27.6M $34.8M

As the company reported it, from the “Revenue - Schedule of Sales by Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $261.3M$198.5M$209.9M$242.1M$270.1M$222.8M$176.6M$191.4M$138.6M$101.3M
Cost of revenue $183.4M$165.5M$163.8M$191.2M$192.8M$163.4M$124.3M$124.4M$94.3M$78.2M
Gross profit $78.0M$33.0M$46.1M$50.8M$77.3M$59.4M$52.3M$67.0M$44.3M$23.2M
R&D $48.0M$45.1M$46.2M$53.8M$54.8M$41.2M$28.1M$21.1M$15.1M$15.2M
SG&A $54.2M$49.3M$45.9M$48.3M$52.7M$39.2M$34.1M$28.8M$19.4M$17.3M
Total operating expenses $104.5M$98.7M$92.9M$105.9M$107.5M$80.4M$62.2M$49.9M$34.5M$32.5M
Operating income -$26.6M-$65.6M-$46.8M-$55.1M-$30.2M-$21.0M-$9.9M$17.1M$9.8M-$9.3M
Interest expense $1.1M$105.0K$67.0K———————
Pre-tax income -$22.8M-$60.9M-$42.6M-$54.2M-$30.0M-$20.6M-$6.8M$17.5M$6.7M-$12.3M
Income tax $699.0K$76.0K$978.0K$344.0K$375.0K$340.0K$6.1M$3.6M$4.9M$1.9M
Net income -$23.5M-$60.8M-$41.7M-$54.6M-$29.7M-$20.9M-$12.9M$13.9M$1.8M-$14.2M
EPS, basic -0.47-1.27-0.90-1.23-0.70-0.55-0.350.380.00-5.68
EPS, diluted -0.47-1.27-0.90-1.23-0.70-0.55-0.350.320.00-5.68
Shares, diluted (wtd. avg.) 50.0M47.9M46.1M44.4M42.1M38.4M37.1M30.0M2.7M2.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $98.7M$65.8M$53.2M$58.1M$146.8M$102.6M$117.3M$149.5M$36.7M$13.5M
Short-term investments $34.9M$34.9M$59.7M$50.4M$0—————
Receivables $50.8M$34.9M$39.6M$37.9M$41.6M$31.8M$27.1M$26.5M$13.4M—
Inventory $45.4M$40.8M$52.2M$67.6M$73.7M$54.7M$46.1M$35.3M$29.6M—
Total current assets $243.2M$194.1M$220.6M$230.8M$277.2M$200.6M$198.6M$218.6M$84.6M—
Property, plant and equipment $42.1M$46.9M$52.3M$60.7M$56.1M$44.5M$27.7M$21.5M$18.0M—
Goodwill $12.4M$12.4M$12.4M$12.4M$12.4M$12.5M$9.9M$1.4M$1.4M—
Other intangibles $0$833.0K$1.7M$4.0M$6.7M$8.3M$10.0M$2.7M$1.8M—
Total assets $315.2M$270.2M$306.8M$329.2M$373.6M$283.6M$250.0M$250.1M$110.1M—
Accounts payable $20.9M$15.1M$12.2M$17.5M$26.3M$21.1M$12.7M$12.1M$12.9M—
Short-term debt ————$0$184.0K$51.0K$91.0K$2.4M—
Total current liabilities $64.2M$34.2M$32.8M$34.5M$45.8M$41.4M$25.0M$23.6M$28.9M—
Long-term debt ————$0$215.0K$0$18.0K$15.1M—
Total liabilities $88.5M$53.8M$52.4M$58.4M$71.5M$63.7M$33.4M$32.3M$48.9M—
Retained earnings -$348.6M-$325.1M-$264.3M-$222.6M-$168.1M-$138.4M-$117.5M-$104.7M-$118.7M—
Total equity $226.7M$216.4M$254.4M$270.8M$302.1M$219.9M$216.6M$217.8M$61.3M$29.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $21.3M-$2.4M$10.1M-$14.5M-$7.4M$13.0M-$4.2M$3.4M$3.4M$6.0M
Depreciation and amortisation $12.3M$13.0M$12.4M$11.1M$9.2M$7.7M$6.6M$5.9M$5.4M$8.1M
Stock-based compensation $33.4M$25.0M$25.8M$26.8M$37.7M$25.5M$9.7M$4.8M$369.0K$308.0K
Capital expenditure $9.0M$7.9M$5.3M$21.4M$19.3M$23.4M$12.4M$10.6M$5.5M$4.1M
Investing cash flow -$8.8M$16.7M-$14.1M-$72.4M-$21.9M-$24.5M-$30.4M-$11.7M-$5.5M-$4.0M
Financing cash flow $20.1M-$1.3M-$859.0K-$1.3M$73.7M-$3.8M$2.5M$121.3M$24.4M$3.6M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001124796-26-000018.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M 0 100M 200M 300M Revenue, FY2016: 101.3M Gross profit, FY2016: 23.2M Net income, FY2016: -14.2M Revenue, FY2017: 138.6M Gross profit, FY2017: 44.3M Net income, FY2017: 1.8M Revenue, FY2018: 191.4M Gross profit, FY2018: 67M Net income, FY2018: 13.9M Revenue, FY2019: 176.6M Gross profit, FY2019: 52.3M Net income, FY2019: -12.9M Revenue, FY2020: 222.8M Gross profit, FY2020: 59.4M Net income, FY2020: -20.9M Revenue, FY2021: 270.1M Gross profit, FY2021: 77.3M Net income, FY2021: -29.7M Revenue, FY2022: 242.1M Gross profit, FY2022: 50.8M Net income, FY2022: -54.6M Revenue, FY2023: 209.9M Gross profit, FY2023: 46.1M Net income, FY2023: -41.7M Revenue, FY2024: 198.5M Gross profit, FY2024: 33M Net income, FY2024: -60.8M Revenue, FY2025: 261.3M Gross profit, FY2025: 78M Net income, FY2025: -23.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $101.3M $138.6M $191.4M $176.6M $222.8M $270.1M $242.1M $209.9M $198.5M $261.3M
Gross profit $23.2M $44.3M $67.0M $52.3M $59.4M $77.3M $50.8M $46.1M $33.0M $78.0M
Net income -$14.2M $1.8M $13.9M -$12.9M -$20.9M -$29.7M -$54.6M -$41.7M -$60.8M -$23.5M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 3674

TickerCompanyMarket capP/ERevenue growth
NVDA NVIDIA CORP $5.08T 43.1x 65.5%
AVGO Broadcom Inc. $1.53T 67.4x 23.9%
MU MICRON TECHNOLOGY INC $991.10B 115.6x 48.9%
AMD ADVANCED MICRO DEVICES INC $843.65B 195.0x 34.3%
INTC INTEL CORP $438.63B — -0.5%
AMAT APPLIED MATERIALS INC /DE $299.38B 43.6x 4.4%
TXN TEXAS INSTRUMENTS INC $259.99B 52.2x 13.0%
MRVL Marvell Technology, Inc. $200.38B 74.4x 42.1%