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nLIGHT, Inc. Announces Third Quarter 2021 Results
Revenues of $72.2 million and gross margin of 29.6% for the third quarter of 2021 CAMAS, Wash.--(BUSINESS WIRE)-- nLIGHT, Inc. (Nasdaq: LASR), a leading
About this update from Nlight, Inc.
[{"type":"text","content":"\nRevenues of $72.2 million and gross margin of 29.6% for the third quarter of 2021\n\n CAMAS, Wash.--(BUSINESS WIRE)--\nnLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the third quarter of 2021.\n\n“nLIGHT delivered another record revenue quarter and generated the highest products gross margin in our history as a public company,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “We increased revenue year-over-year in each of our end markets as demand for both our semiconductor and fiber lasers was strong throughout the quarter. Our performance in the third quarter reflects the execution of our strategy to increase our focus on customers outside of China and the diversity in our revenue base.”\n\nMr. Keeney continued, “As a result of a 17% year-over-year increase in revenue combined with a higher mix of business coming from outside of China, we increased our products gross margins by 490 basis year-over-year to a record 37.1%. Assuming the midpoint of our Q4 revenue guidance, we are again on track to deliver more than 20% year-over-year growth.”\n\nThird Quarter 2021 Financial Highlights\n\n\n\n \n\n\n\nThree Months Ended\n\n\nSeptember 30,\n\n\n\n \n\n\n\n \n\n\n\n\n\n(In thousands, except percentages)\n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nRevenues\n\n\n\n$\n\n\n\n72,235\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n61,732\n\n\n\n \n\n\n\n \n\n\n\n17.0\n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n29.6\n\n\n\n%\n\n\n\n \n\n\n\n27.8\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nLoss from operations\n\n\n\n$\n\n\n\n(6,759\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(3,976\n\n\n\n)\n\n\n\n \n\n\n\n(70.0\n\n\n\n)%\n\n\n\n\n\nOperating margin\n\n\n\n(9.4\n\n\n\n)%\n\n\n\n \n\n\n\n(6.4\n\n\n\n)%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet loss\n\n\n\n$\n\n\n\n(6,880\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(2,110\n\n\n\n)\n\n\n\n \n\n\n\n(226.1\n\n\n\n)%\n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n$\n\n\n\n7,212\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n6,211\n\n\n\n \n\n\n\n \n\n\n\n16.1\n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA, as percentage of revenues\n\n\n\n10.0\n\n\n\n%\n\n\n\n \n\n\n\n10.1\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\n(1) A reconciliation of the non-GAAP information provided here t...