nLIGHT (LASR) financial statements
nLIGHT reported revenue of $261M in fiscal 2025, up 11.1% a year over 9 years.
Net income was -$23M and the operating margin -10.2%, against -9.2% in 2016.
Free cash flow was $12M.
The diluted share count rose 1899% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from nLIGHT's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $101M | $139M | $191M | $177M | $223M | $270M | $242M | $210M | $199M | $261M |
| Cost of revenue | $78M | $94M | $124M | $124M | $163M | $193M | $191M | $164M | $166M | $183M |
| Gross profit | $23M | $44M | $67M | $52M | $59M | $77M | $51M | $46M | $33M | $78M |
| Research and development | $15M | $15M | $21M | $28M | $41M | $55M | $54M | $46M | $45M | $48M |
| Selling, general and admin | $17M | $19M | $29M | $34M | $39M | $53M | $48M | $46M | $49M | $54M |
| Operating income | -$9M | $10M | $17M | -$10M | -$21M | -$30M | -$55M | -$47M | -$66M | -$27M |
| Interest expense | — | — | — | — | — | — | — | $67,000 | $105,000 | $1M |
| Pre-tax income | -$12M | $7M | $18M | -$7M | -$21M | -$30M | -$54M | -$43M | -$61M | -$23M |
| Income tax | $2M | $5M | $4M | $6M | $340,000 | -$375,000 | $344,000 | -$978,000 | -$76,000 | $699,000 |
| Net income | -$14M | $2M | $14M | -$13M | -$21M | -$30M | -$55M | -$42M | -$61M | -$23M |
| EPS (diluted) | -$5.68 | $0.00 | $0.32 | -$0.35 | -$0.55 | -$0.70 | -$1.23 | -$0.90 | -$1.27 | -$0.47 |
| Diluted shares | 2M | 3M | 30M | 37M | 38M | 42M | 44M | 46M | 48M | 50M |
| Gross margin | 22.9% | 31.9% | 35.0% | 29.6% | 26.6% | 28.6% | 21.0% | 22.0% | 16.6% | 29.8% |
| Operating margin | -9.2% | 7.1% | 8.9% | -5.6% | -9.4% | -11.2% | -22.8% | -22.3% | -33.1% | -10.2% |
| Net margin | -14.0% | 1.3% | 7.3% | -7.3% | -9.4% | -11.0% | -22.5% | -19.9% | -30.6% | -9.0% |
Balance sheet
Fiscal years, from nLIGHT's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $14M | $37M | $149M | $117M | $102M | $147M | $108M | $113M | $101M | $134M |
| Receivables | — | $13M | $27M | $27M | $32M | $42M | $38M | $40M | $35M | $51M |
| Inventory | — | $30M | $35M | $46M | $55M | $74M | $68M | $52M | $41M | $45M |
| Total current assets | — | $85M | $219M | $199M | $201M | $277M | $231M | $221M | $194M | $243M |
| Property, plant and equipment | — | $18M | $21M | $28M | $44M | $56M | $61M | $52M | $47M | $42M |
| Goodwill | — | $1M | $1M | $10M | $12M | $12M | $12M | $12M | $12M | $12M |
| Total assets | — | $110M | $250M | $250M | $284M | $374M | $329M | $307M | $270M | $315M |
| Total current liabilities | — | $29M | $24M | $25M | $41M | $46M | $34M | $33M | $34M | $64M |
| Long-term debt | — | $15M | $18,000 | $0 | $215,000 | $0 | — | — | — | — |
| Total liabilities | — | $49M | $32M | $33M | $64M | $71M | $58M | $52M | $54M | $88M |
| Shareholders' equity | $30M | $61M | $218M | $217M | $220M | $302M | $271M | $254M | $216M | $227M |
| Net debt | -$14M | -$19M | -$149M | -$117M | -$102M | -$147M | -$58M | -$53M | -$66M | -$99M |
Cash flow
Fiscal years, from nLIGHT's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6M | $3M | $3M | -$4M | $13M | -$7M | -$15M | $10M | -$2M | $21M |
| Capital spending | $4M | $5M | $11M | $12M | $23M | $19M | $21M | $5M | $8M | $9M |
| Free cash flow | $2M | -$2M | -$7M | -$17M | -$10M | -$27M | -$36M | $5M | -$10M | $12M |
| Stock-based compensation | $308,000 | $369,000 | $5M | $10M | $25M | $38M | $27M | $26M | $25M | $33M |
| Free cash flow margin | 1.9% | -1.5% | -3.8% | -9.4% | -4.7% | -9.9% | -14.8% | 2.3% | -5.2% | 4.7% |
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Open LASR in InvestinglyQuestions
What was nLIGHT's revenue in 2025?
$261M in fiscal 2025, from its 10-K filing.
How much free cash flow does nLIGHT generate?
$12M in fiscal 2025 (operating cash flow minus capital spending).
From nLIGHT's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.