Business
nLIGHT, Inc. Announces Second Quarter 2024 Results
Revenues of $50.5 million for the second quarter of 2024 CAMAS, Wash.--(BUSINESS WIRE)-- nLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power
About this update from Nlight, Inc.
[{"type":"text","content":"\nRevenues of $50.5 million for the second quarter of 2024\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 2024.\n\n\n“Second quarter revenue of $50.5 million was at the upper end of our guidance range and increased 13% compared to the first quarter,” commented Scott Keeney, nLIGHT’s President & Chief Executive Officer. “Strong execution in directed energy and in existing laser sensing programs resulted in 26% quarter-over-quarter growth in our Aerospace & Defense business. We also announced a strategic partnership with EOS, an industry leader in additive manufacturing. Additive manufacturing remains a key growth area for nLIGHT and we believe our work with EOS positions us even better for long-term growth in this market.”\n\n\nMr. Keeney continued, “Higher volumes and a more favorable mix of business during the second quarter enabled us to increase products gross margin to 30%, above the high end of our guidance range. We generated approximately $7 million from cash flow from operations during the first six months of the year and we ended the quarter with approximately $115 million of cash and investments with no debt.”\n\n\nSecond Quarter 2024 Financial Highlights\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended June 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n(In thousands, except percentages)\n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n\n\nRevenues\n\n\n\n\n\n\n$\n\n\n\n\n\n\n50,511\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n53,304\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(5.2)%\n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n23.5\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n22.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nLoss from operations\n\n\n\n\n\n\n$\n\n\n\n\n\n\n(12,690\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(11,686\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n(8.6)%\n\n\n\n\n\n\n\n\nOperating margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n(25.1\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(21.9\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\nNet loss\n...