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nLIGHT, Inc. engages in the design, development, manufacture, and sale of semiconductor and fiber lasers for aerospace and defense, industrial, and microfabrication applications. It operates through two segments, Laser Products and Advanced Development. The company offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in aerospace and defense and industrial applications. It also provides fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications. The company sells its products through direct sales force in the United States, China, South Korea, and European countries, as well as through independent sales representatives and distributors in Asia, Australia, Europe, the Middle East, and South America. The company was formerly known as nLight Photonics Corporation and changed its name to nLIGHT, Inc. in January 2016. nLIGHT, Inc. was incorporated in 2000 and is headquartered in Camas, Washington.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $261M | $-7M | $-23M | $12M | -10.3% | 31.6% | - |
| 2024 | $199M | $-43M | $-61M | $-10M | -28.1% | -5.4% | - |
| 2023 | $210M | $-27M | $-42M | $5M | -16.4% | -13.3% | - |
| 2022 | $242M | $-36M | $-55M | $-36M | -20.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 242.06 | 209.92 | 198.55 | 261.33 |
| Cost Of Revenue | 191.24 | 163.81 | 165.53 | 183.37 |
| Gross Profit | 50.82 | 46.11 | 33.02 | 77.96 |
| Operating Expense | 102.03 | 92.06 | 94.36 | 102.17 |
| Operating Income | -51.21 | -45.95 | -61.34 | -24.20 |
| EBITDA | -35.51 | -26.55 | -43.17 | -7.43 |
| EBIT | -51.21 | -42.58 | -60.76 | -21.68 |
| Pretax Income | -54.23 | -42.65 | -60.87 | -22.77 |
| Tax Provision | 0.34 | -0.98 | -0.08 | 0.70 |
| Net Income | -54.58 | -41.67 | -60.79 | -23.47 |
| Net Income Common Stockholders | -54.58 | -41.67 | -60.79 | -23.47 |
| Total Expenses | 293.27 | 255.87 | 259.89 | 285.53 |
| Interest Expense | 0 | 0.07 | 0.10 | 1.08 |
| Interest Income | 0.53 | 1.41 | 1.77 | 4.91 |
| Research And Development | 53.77 | 46.16 | 45.11 | 47.97 |
| Selling General And Administration | 48.26 | 45.90 | 49.26 | 54.19 |
| Normalized EBITDA | -31.62 | -25.73 | -38.88 | -5.08 |
| Normalized Income | -51.50 | -40.87 | -56.51 | -21.61 |
| Basic EPS | -1.23 | -0.90 | -1.27 | 0 |
| Diluted EPS | -1.23 | -0.90 | -1.27 | 0 |
| Tax Effect Of Unusual Items | -0.82 | -0.02 | 0 | -0.49 |
| Tax Rate For Calcs | 0.21 | 0.02 | 0 | 0.21 |
| Total Unusual Items | -3.89 | -0.82 | -4.29 | -2.35 |
| Total Unusual Items Excluding Goodwill | -3.89 | -0.82 | -4.29 | -2.35 |
| Net Income From Continuing Operation Net Minority Interest | -54.58 | -41.67 | -60.79 | -23.47 |
| Reconciled Depreciation | 15.70 | 16.03 | 17.60 | 14.26 |
| Reconciled Cost Of Revenue | 191.24 | 163.81 | 165.53 | 183.37 |
| Net Interest Income | 0.53 | 1.34 | 1.67 | 3.82 |
| Net Income From Continuing And Discontinued Operation | -54.58 | -41.67 | -60.79 | -23.47 |
| Total Operating Income As Reported | -55.10 | -46.77 | -65.64 | -26.55 |
| Diluted Average Shares | 44.44 | 46.08 | 47.90 | 0 |
| Basic Average Shares | 44.44 | 46.08 | 47.90 | 0 |
| Diluted NI Availto Com Stockholders | -54.58 | -41.67 | -60.79 | -23.47 |
| Net Income Including Noncontrolling Interests | -54.58 | -41.67 | -60.79 | -23.47 |
| Net Income Continuous Operations | -54.58 | -41.67 | -60.79 | -23.47 |
| Other Income Expense | -3.55 | 1.96 | -1.19 | -2.39 |
| Other Non Operating Income Expenses | 0.34 | 2.78 | 3.10 | -0.04 |
| Special Income Charges | -3.89 | -0.82 | -4.29 | -2.35 |
| Impairment Of Capital Assets | 2.57 | 0 | 0 | 1.21 |
| Restructuring And Mergern Acquisition | 1.33 | 0.82 | 4.29 | 1.14 |
| Net Non Operating Interest Income Expense | 0.53 | 1.34 | 1.67 | 3.82 |
| Total Other Finance Cost | -0.53 | -1.34 | 0 | 0 |
| Interest Expense Non Operating | 0 | 0.07 | 0.10 | 1.08 |
| Interest Income Non Operating | 0.53 | 1.41 | 1.77 | 4.91 |
| Operating Revenue | 242.06 | 209.92 | 198.55 | 261.33 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| nLIGHT, Inc.this co. | LASR | $3.7B | - | 14.66 | -10.3% | -354.68 |
| Fastly, Inc. | FSLY | $4.1B | - | 4.30 | -13.1% | -64.33 |
| Webull Corporation | BULL | $3.6B | - | 3.48 | 2.4% | - |
| Navitas Semiconductor Corporation | NVTS | $3.6B | - | 8.04 | -26.4% | -54.68 |
| Synaptics Incorporated | SYNA | $3.5B | - | 2.48 |
| -3.4% |
| 41.61 |
| Dave Inc. | DAVE | $3.4B | 19.01 | 9.88 | 55.5% | 17.94 |
| Bel Fuse Inc. | BELFB | $3.3B | 55.54 | 7.68 | 11.9% | 26.42 |
| SoundHound AI, Inc. | SOUN | $3.3B | - | 7.03 | -3.0% | -20.62 |
| Varonis Systems, Inc. | VRNS | $3.2B | - | 5.36 | -21.6% | -19.29 |
| Peer Median | - | 37.28 | 6.19 | -3.2% | -19.29 | |