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nLIGHT, Inc. Announces First Quarter 2022 Results
Revenues of $64.5 million and gross margin of 25.1% for the first quarter of 2022 CAMAS, Wash.--(BUSINESS WIRE)-- nLIGHT, Inc. (Nasdaq: LASR), a leading
About this update from Nlight, Inc.
[{"type":"text","content":"\nRevenues of $64.5 million and gross margin of 25.1% for the first quarter of 2022\n\n CAMAS, Wash.--(BUSINESS WIRE)--\nnLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the first quarter of 2022.\n\n“We are pleased with the results we achieved in the first quarter. Driven by 77% year-over-year growth from Industrial customers outside of China and 14% year-over-year growth in Microfabrication, we delivered Q1 revenue of $64.5 million, which was above the midpoint of our guidance range,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “Although Aerospace and Defense declined slightly year-over-year, we made excellent technical progress in Directed Energy and we increased our engagement with multiple new potential customers.”\n\nMr. Keeney continued, “First quarter gross margins and Adjusted EBITDA were above the high-end of our guidance range and we ended the quarter with approximately $136 million of cash and no debt. Unexpected COVID-related lockdowns in Shanghai and other cities in China have created a more uncertain operating environment but we continue to see healthy demand trends from our customers.”\n\n\n\nFirst Quarter 2022 Financial Highlights\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nThree Months Ended March 31,\n\n\n\n \n\n\n\n \n\n\n\n\n\n(In thousands, except percentages)\n\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nRevenues\n\n\n\n\n$\n\n\n\n64,459\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n61,345\n\n\n\n \n\n\n\n \n\n\n\n5.1\n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n\n \n\n\n\n25.1\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n28.8\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nLoss from operations\n\n\n\n\n$\n\n\n\n(8,309\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(5,779\n\n\n\n)\n\n\n\n \n\n\n\n(43.8\n\n\n\n) %\n\n\n\n\n\nOperating margin\n\n\n\n\n \n\n\n\n(12.9\n\n\n\n) %\n\n\n\n \n\n\n\n \n\n\n\n(9.4\n\n\n\n) %\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet loss\n\n\n\n\n$\n\n\n\n(8,623\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(6,149\n\n\n\n)\n\n\n\n \n\n\n\n(40.2\n\n\n\n) %\n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n\n$\n\n\n\n1,982\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n5,992\n\n\n\n \n\n\n\n \n\n\n\n(66.9\n\n\n\n) %\n\n\n\n\n\nAdjusted EBITDA, as perce...