nLIGHT, Inc. (LASR) Q2 2025 Earnings Call

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WEBVTT 00:00:00.000 -- 00:00:05.480 Non-GAP operating expenses were $16.8 million in the second quarter, down from $18.1 00:00:05.480 -- 00:00:11.520 million in the second quarter of 2024, and $17.7 million last quarter. 00:00:11.520 -- 00:00:17.500 We expect non-GAP OPEX to remain in the $18 million range in the third quarter. 00:00:17.500 -- 00:00:23.040 Gap net loss for the second quarter was $3.6 million, or 7 cents per share, 00:00:23.040 -- 00:00:28.180 compared to a net loss of $11.7 million, or 25 cents per share in the same 00:00:28.180 -- 00:00:33.240 quarter a year ago, and a loss of $8.1 million, or 16 cents per share 00:00:33.240 -- 00:00:36.380 in the first quarter of 2025. 00:00:36.380 -- 00:00:41.500 On a non-GAP basis, net income for the second quarter was $2.9 million, or 00:00:41.500 -- 00:00:46.960 6 cents per diluted share, compared to a non-GAP net loss of $4.6 million, 00:00:46.960 -- 00:00:52.280 or 10 cents per share in the second quarter of 2024, and a non-GAP net loss 00:00:52.280 -- 00:00:57.360 of $1.9 million, or 4 cents per share last quarter. 00:00:57.360 -- 00:01:02.480 Adjusted EBITDA for the second quarter was a positive $5.6 million, compared to a 00:01:02.480 -- 00:01:09.100 loss of $1.6 million in the second quarter last year, and a positive $116,000 00:01:09.100 -- 00:01:12.340 in the first quarter of 2025. 00:01:12.720 -- 00:01:17.660 Turning to the balance sheet. We ended the second quarter with total cash, cash equivalents, 00:01:17.660 -- 00:01:21.600 restricted cash, and investments of $114 million. 00:01:21.600 -- 00:01:24.800 We continue to make progress on improving our working capital. 00:01:24.800 -- 00:01:29.580 Our cashflow conversion days have improved over the last several quarters, and we remain 00:01:29.580 -- 00...