nLIGHT, Inc. (LASR) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Non-GAP operating expenses were $16.8 million in the second quarter, down from $18.1 million in the second quarter of 2024, and $17.7 million last quarter. We expect non-GAP OPEX to remain in the $18 million range in the third quarter. Gap net loss for the second quarter was $3.6 million, or 7 cents per share, compared to a net loss of $11.7 million, or 25 cents per share in the same quarter a year ago, and a loss of $8.1 million, or 16 cents per share in the first quarter of 2025. On a non-GAP basis, net income for the second quarter was $2.9 million, or 6 cents per diluted share, compared to a non-GAP net loss of $4.6 million, or 10 cents per share in the second quarter of 2024, and a non-GAP net loss of $1.9 million, or 4 cents per share last quarter. Adjusted EBITDA for the second quarter was a positive $5.6 million, compared to a loss of $1.6 million in the second quarter last year, and a positive $116,000 in the first quarter of 2025. Turning to the balance sheet. We ended the second quarter with total cash, cash equivalents, restricted cash, and investments of $114 million. We continue to make progress on improving our working capital. Our cashflow conversion days have improved over the last several quarters, and we remain focused on further improvement going forward. Turning to guidance. Based on the information available today, we expect revenue for the third quarter of 2025 to be in the range of $62 million to $67 million. The midpoint of $64.5 million includes approximately $45 million of product revenue and $19 million of development revenue. We expect A&D revenue in the third quarter of 2025 to increase sequentially and year over year. Turning to gross margin. Product gross margin in the third quarter is expected to be in the range of 32% to 36%, and we ...