nLIGHT, Inc. Announces Second Quarter 2020 Results

About this update from Nlight, Inc.

[{"type":"text","content":"\nRevenues of $52.1 million and gross margin of 25.0% for the second 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 second quarter of 2020.\n\n\n“Our strong second quarter financial performance demonstrates growing customer demand for our differentiated product offerings across each of our end markets,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “Business activity in China was robust throughout the quarter in both the industrial and microfabrication end markets, driving overall revenues above the high-end of our outlook. Adoption of our higher power fiber lasers continues to grow, both inside and outside of China, and we are encouraged by the early customer response to our fiber laser welding solutions and the long-term potential in this application space.\n\n\n“With the improved revenue performance and continued cost controls we expanded our already strong net cash position to over $105 million at the end of the second quarter,” continued Keeney. “As we look at the third quarter, we currently see strong demand trends across each of our end markets and geographies. This is particularly true for our industrial business outside of China.”\n\n\nSecond Quarter 2020 Financial Highlights\n\n\n\n\n \n\n\n\nThree Months Ended June 30,\n\n\n\n \n\n\n\n \n\n\n\n\n\n(In thousands, except percentages)\n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nRevenues\n\n\n\n$\n\n\n\n52,138\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n48,048\n\n\n\n \n\n\n\n \n\n\n\n8.5\n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n25.0\n\n\n\n%\n\n\n\n \n\n\n\n33.0\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nIncome (loss) from operations\n\n\n\n$\n\n\n\n(6,049\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n805\n\n\n\n \n\n\n\n \n\n\n\n(851.4\n\n\n\n)%\n\n\n\n\n\nOperating margin\n\n\n\n(11.6\n\n\n\n)%\n\n\n\n \n\n\n\n1.7\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet loss\n\n\n\n$\n\n\n\n(6,830\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(155\n\n\n\n)\n\n\n\n \n\n\n\n(4,306.5\n\n\n\n)%\n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n$\n\n\n\n3,256\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n5,455\n\n\n\n \n\n\n\n \n\n\n\n(40.3\n\n\n\n)%\n\n\n\n\n\nAdjusted EBITDA, as perc...

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