Business
nLIGHT, Inc. Announces Third Quarter 2022 Results
Revenues of $60.1 million and gross margin of 22.4% for the third quarter of 2022 CAMAS, Wash.--(BUSINESS WIRE)-- nLIGHT, Inc. (Nasdaq: LASR), a leading
About this update from Nlight, Inc.
[{"type":"text","content":"\nRevenues of $60.1 million and gross margin of 22.4% for the third quarter of 2022\n\n CAMAS, Wash.--(BUSINESS WIRE)--\nnLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the third quarter of 2022.\n\n“Our third quarter results reflect the continued transformation of our business. Ninety one percent of our revenue was from customers outside of China and we delivered a strong quarter in Microfabrication and Industrial,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “Operationally, we continued to ramp our automated manufacturing capabilities in the United States and we introduced several new products that enhance our long-term growth opportunities in each of our end-markets. We also made important progress in several of our key development programs and continued to increase our engagement with Directed Energy customers.”\n\nMr. Keeney continued, “While we are projecting near-term growth from many of our strategic customers, we are navigating a weaker demand environment, which we believe will persist for the next several quarters. We believe that softening demand is a response to changes in the near-term global business environment and not a fundamental shift in the markets or customers we serve. Our long-term growth opportunities remain intact and aligned with our strategy to focus on both the Industrial and Aerospace and Defense markets.”\n\nThird Quarter 2022 Financial Highlights\n\n\n\n \n\n\n\nThree Months Ended\nSeptember 30,\n\n\n\n \n\n\n\n \n\n\n\n\n\n(In thousands, except percentages)\n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nRevenues\n\n\n\n$\n\n\n\n60,093\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n72,235\n\n\n\n \n\n\n\n \n\n\n\n(16.8\n\n\n\n)%\n\n\n\n\n\nGross margin\n\n\n\n \n\n\n\n22.4\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n29.6\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nLoss from operations\n\n\n\n$\n\n\n\n(12,981\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(6,759\n\n\n\n)\n\n\n\n \n\n\n\n(92.1\n\n\n\n)%\n\n\n\n\n\nOperating margin\n\n\n\n \n\n\n\n(21.6\n\n\n\n)%\n\n\n\n \n\n\n\n \n\n\n\n(9.4\n\n\n\n)%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet loss\n\n\n\n$\n\n\n\n(12,955\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(6,880\n\n\n\n)\n\n\n\n \n\n\n\n(88.3\n\n...