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nLIGHT, Inc. Announces Second Quarter 2023 Results
Revenues of $53.3 million and products gross margin of 29% for the second quarter of 2023 CAMAS, Wash.--(BUSINESS WIRE)-- nLIGHT, Inc. (Nasdaq: LASR), a
About this update from Nlight, Inc.
[{"type":"text","content":"\nRevenues of $53.3 million and products gross margin of 29% for the second quarter of 2023\n\n\n CAMAS, Wash.--(BUSINESS WIRE)--\nnLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the second quarter of 2023.\n\n\n“Our second quarter performance reflects the continued progress towards our strategic growth initiatives, particularly in Aerospace & Defense,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “A&D revenue increased 9% year-over-year and we began work on the second phase of the HELSI program. In our commercial markets, we continue to leverage our unique Corona programmable fiber lasers to offer differentiated solutions across each of our Industrial applications. In addition, we saw increased adoption of our process monitoring solutions for EV battery applications.”\n\n\nMr. Keeney continued, “Our focus on driving profitable growth resulted in second quarter revenue and Adjusted EBITDA above the mid-point of our guidance range. While we continue to face macroeconomic headwinds, recent defense program wins and continued adoption of our innovative semiconductor and fiber laser solutions make us optimistic for strong growth in subsequent quarters and into 2024.”\n\n\nSecond Quarter 2023 Financial Highlights\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended June 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n(In thousands, except percentages)\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n\n\nRevenues\n\n\n\n\n\n\n$\n\n\n\n\n\n\n53,304\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n60,827\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(12.4\n\n\n\n\n\n\n)%\n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n22.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n25.3\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nLoss from operations\n\n\n\n\n\n\n$\n\n\n\n\n\n\n(11,686\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(10,317\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n(13.3\n\n\n\n\n\n\n)%\n\n\n\n\n\n\n\n\nOperating margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n(21.9\n\n\n\n\n\n\n)%\n\n\n\n\n\n\n \n\n\n\n\n...