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nLIGHT, Inc. Announces Third Quarter 2020 Results
Revenues of $61.7 million and gross margin of 27.8% for the third quarter of 2020 VANCOUVER, Wash.--(BUSINESS WIRE)-- nLIGHT, Inc. (Nasdaq: LASR), a leading
About this update from Nlight, Inc.
[{"type":"text","content":"\nRevenues of $61.7 million and gross margin of 27.8% for the third quarter of 2020 \n\n VANCOUVER, Wash.--(BUSINESS WIRE)--\nnLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the third quarter of 2020.\n\n“We delivered record quarterly revenues and exceeded the high-end of our third quarter outlook due to strong performance in each of our end markets and geographies,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “Our third quarter results reflect the continued execution of our strategy to grow in aerospace and defense, which included new directed energy applications, and to increase sales to strategic industrial customers outside of China.\n\n“Increased sales and a favorable mix resulted in higher gross margins and better overall profitability compared to the prior quarter,” continued Keeney. “While we remain concerned about the impact of the global COVID-19 pandemic and an uncertain macroeconomic environment, we continue to see strong demand from our customers globally in the fourth quarter.”\n\nThird Quarter 2020 Financial Highlights\n\n\n\n \n\n\n\nThree Months Ended September 30,\n\n\n\n \n\n\n\n \n\n\n\n\n\n(In thousands, except percentages)\n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nRevenues\n\n\n\n$\n\n\n\n61,732\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n43,814\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n40.9\n\n\n\n \n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n27.8\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n29.6\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nLoss from operations\n\n\n\n$\n\n\n\n(3,976\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(696\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n(471.3\n\n\n\n)\n\n\n\n%\n\n\n\n\n\nOperating margin\n\n\n\n(6.4\n\n\n\n)\n\n\n\n%\n\n\n\n \n\n\n\n(1.6\n\n\n\n)\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet loss\n\n\n\n$\n\n\n\n(2,110\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(778\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n(171.2\n\n\n\n)\n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n$\n\n\n\n6,211\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2,696\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n130.4\n\n\n\n \n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA, as percentage of revenues\n\n\n\n10.1\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n6.2\n\n\n\n \n\...