Nlight, Inc. · NASDAQ:LASR
Nlight — Q2 2025 Earnings Presentation
17 slides from Nlight's earnings presentation, Aug 7, 2025
Slide 1: Earnings Presentation Q2 2025
Earnings Presentation Q2 2025 August 7, 2025 This presentation contains nLIGHT, Inc. proprietary information. No part of it may be circulated, quoted, or reproduced for distribution without prior written approval from nLIGHT, Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements in this presentation are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Words
Slide 3: Second Quarter 2025 Key Messages
Second Quarter 2025 | Key Messages Execution Drives Upside Record Quarter for A&D Q2’25 Revenue, Gross Margin and Q2’25 Aerospace & Defense revenue Adj. EBITDA all outperformed increased 49% year-over-year driven expectations by record product and development revenue Strength in Directed Energy Rais
Slide 4: Q2 2025 Summary | Strong Execution Drives Upside
Q2 2025 Summary | Strong Execution Drives Upside • Q2 revenue above the high-end of guidance – $61.7M of total revenue | +22% year-over-year, +19% quarter-over-quarter – Record quarterly A&D revenue of $40.7 million | +49% year-over-year, +24% quarter-over-quarter • Record A&D product revenue of $19
Slide 5: Revenue by Market | A&D Driving Growth
Revenue by Market | A&D Driving Growth Quarterly Revenue Q2 ’25 Total Revenue $ Millions • $61.7 million • +22% y/y $62 • +19% q/q $60 $56 $53 18% $52 $52 Q2 ’25 Microfab Revenue $51 $51 $50 • $11.3 million 25% $47 23% • +11% y/y 20% $45 20% 16% 24% 20% • +12% q/q 17% $40 24% 17% 21% 19% Q2 ’25 Indu
Slide 6: Q2 2025 Financial Update
Q2 2025 Financial Update
Slide 7: Q2 2025 Summary Financial Results
Q2 2025 Summary Financial Results | Solid Execution Drives Upside Q2 2025 Q2 2024 Q1 2025 Total Revenue ($ in millions) $61.7 $50.5 $51.7 • Q2 ’25 Revenue grew 22% Y/Y Products Revenue $40.8 $34.5 $35.7 • Product revenue +18% Y/Y Development Revenue $20.9 $16.1 $16.0 • Development revenue +30% Y/Y T
Slide 8: Gross Margin | Product Gross Margin Trends
Gross Margin | Product Gross Margin Trends Product Revenue & Gross Margin – Quarterly $ Millions; % of Revenue Products GM % $50 40% 38.5% 35% $40 30.3% 30% 28.6% 28.8% $30 25% 23.8% 22.0% 20.9% 20% $20 $39.6 $41.1 $41.1 $40.8 $38.1 $37.9 $35.7 15% $34.5 $31.7 10% $10 5% 0.7% $0 0% Q2 Q3 Q4 Q1 Q2 Q3
Slide 9: Operating Expenses | R&D and SG&A
Operating Expenses | R&D and SG&A Operating Expenses (Non-GAAP) $ Millions; % of Revenue $20 50% $18.0 $18.3 $17.4 $17.7 $17.8 $17.2 $16.6 $16.8 $16.0 40% $15 7.9 8.6 9.2 8.2 8.3 7.8 8.3 7.7 8.2 30% $10 20% $5 9.5 9.4 9.1 9.6 9.4 9.0 8.8 8.9 7.7 10% $0 0% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2024 2025 No
Slide 10: Strong Balance Sheet and Working Capital Management
Strong Balance Sheet and Working Capital Management Cash and Investments ($M) Accounts Receivable ($M) and Inventory ($M) and Days Sales Outstanding (DSO) Days of Inventory (DOI) $90 73 75 $100 180 $150 70 71 68 65 $90 143 $80 62 140 160 $125 $121 59 $117 58 60 $112 $113 $115 $114 $70 $80 123 128 53
Slide 11: Outlook | Q3 2025
Outlook | Q3 2025 • Q3 2025 Revenues of $62 million to $67 million; midpoint of $64.5 million – Products: ~$45 million at midpoint • A&D revenue up sequentially, Commercial revenue down sequentially – Advanced Development: ~$19 million at midpoint • Q3 2025 Gross Margin of 24% to 30% – Products: 32%
Slide 12: Simply brilliant
Ve eeceeee Simply brilliant
Slide 13: Appendix
Appendix
Slide 14: Supplemental Information | Revenue & Gross Margin
Supplemental Information | Revenue & Gross Margin nLight, Inc. 2022 2023 2024 2025 (in thousands, except per share data) Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Total Revenue: Products $ 51,061 $ 48,180 $ 48,042 $ 45,375 $ 192,658 $ 41,107 $ 39,592 $ 38,103 $ 37,864 $ 156,666 $
Slide 15: GAAP to Non-GAAP Reconciliation | Operating Expenses
GAAP to Non-GAAP Reconciliation | Operating Expenses nLight, Inc. 2022 2023 2024 2025 (in thousands, except per share data) Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Total R&D expense (GAAP) $ 13,711 $ 13,788 $ 12,716 $ 13,558 $ 53,773 $ 11,301 $ 12,004 $ 10,744 $ 12,114 $ 46,163
Slide 16: GAAP to Non-GAAP Reconciliation | Adjusted EBITDA, Net Income and EPS
GAAP to Non-GAAP Reconciliation | Adjusted EBITDA, Net Income and EPS nLight, Inc. 2022 2023 2024 2025 (in thousands, except per share data) Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Total Stock-based compensation included in following: Cost of revenues $ 709 $ 684 $ 712 $ 572 $ 2
Slide 17: Supplemental Information | Key Revenue Metrics
Supplemental Information | Key Revenue Metrics nLight, Inc. 2022 2023 2024 2025 (in thousands, except per share data) Q1 Q2 Q3 Q4 FY 2022 Q1 Q2 Q3 Q4 FY 2023 Q1 Q2 Q3 Q4 FY 2024 Q1 Q2 FY 2025 Revenues by end market Aerospace and defense $ 23,144 $ 22,513 $ 20,194 $ 22,340 $ 88,191 $ 21,131 $ 24,508