Business
nLIGHT, Inc. Announces Fourth Quarter and Full Year 2020 Results
Revenues of $222.8 million and gross margin of 26.6% for the full year 2020 Revenues of $65.7 million and gross margin of 29.9% for the fourth quarter of
About this update from Nlight, Inc.
[{"type":"text","content":"\nRevenues of $222.8 million and gross margin of 26.6% for the full year 2020\n\nRevenues of $65.7 million and gross margin of 29.9% for the fourth quarter of 2020\n\n VANCOUVER, Wash.--(BUSINESS WIRE)--\nnLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the fourth quarter and full year 2020.\n\n“In 2020, nLIGHT delivered 26% year-over-year growth, which resulted in the highest annual revenues in the Company’s history,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “We successfully executed our strategy of expanding sales with strategic customers outside of China and in the aerospace and defense market, which included a full year of revenues from our November 2019 acquisition of Nutronics.”\n\n“In the fourth quarter, led by another strong quarter in aerospace and defense, we achieved year-over-year growth in each of our end markets. As a result of higher revenues and a more favorable mix of business, our fourth quarter results exceeded the high-end of our revenue, gross margin and Adjusted EBITDA guidance. Looking forward, we believe we are well positioned to continue to outpace industry growth.”\n\nFull Year 2020 Financial Highlights\n\n\n\n \n\n\n\nYear Ended December 31,\n\n\n\n \n\n\n\n \n\n\n\n\n\n(In thousands, except percentages)\n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nRevenues\n\n\n\n$\n\n\n\n222,789\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n176,619\n\n\n\n \n\n\n\n \n\n\n\n26.1\n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n26.6\n\n\n\n%\n\n\n\n \n\n\n\n29.6\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nLoss from operations\n\n\n\n$\n\n\n\n(21,048\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(9,909\n\n\n\n)\n\n\n\n \n\n\n\n(112.4\n\n\n\n)%\n\n\n\n\n\nOperating margin\n\n\n\n(9.4\n\n\n\n)%\n\n\n\n \n\n\n\n(5.6\n\n\n\n)%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet loss\n\n\n\n$\n\n\n\n(20,932\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(12,884\n\n\n\n)\n\n\n\n \n\n\n\n(62.5\n\n\n\n)%\n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n$\n\n\n\n18,151\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n9,855\n\n\n\n \n\n\n\n \n\n\n\n84.2\n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA, as percentage of revenues\n\n\n\n8.1\n\n\n\n%\n\n\n\n \n\n\n\n5.6\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\n\n(1)\n\n\n\n\nA reconcil...