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Sep 30, 2024
nLIGHT Q3 2024 Earnings Report
Reported revenue above guidance, driven by record Aerospace & Defense results and improved gross margin.
Key Takeaways
nLIGHT reported Q3 2024 revenue of $56.1 million, an 11% increase compared to Q3 2023, driven by record Aerospace & Defense revenue. The company's gross margin improved to 22.4%, and it ended the quarter with approximately $107 million in cash and investments and no debt. The company expects Q4 2024 revenues to be in the range of $49 million to $54 million.
Revenue for Q3 2024 was $56.1 million, up 11% year-over-year, exceeding the midpoint of guidance.
Aerospace & Defense sector achieved record revenue driven by strong execution in directed energy and laser sensing programs.
Gross margin improved to 22.4%, a 500 basis point increase compared to Q3 2023, driven by Microfabrication growth and higher A&D products revenue.
Ended the quarter with a strong balance sheet, holding approximately $107 million in cash and investments with no debt.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the fourth quarter of 2024, nLIGHT expects revenues to be in the range of $49 million to $54 million. The midpoint of $51.5 million includes Laser Products revenue of approximately $36.5 million and Advanced Development revenue of approximately $15 million. nLIGHT expects overall gross margin to be in the range of 17% to 21%, with Laser Products gross margin in the range of 21% to 25% and Advanced Development gross margin of approximately 8%. nLIGHT expects Adjusted EBITDA to be in the range of ($5) million to ($2) million.
Positive Outlook
- Laser Products revenue of approximately $36.5 million
- Advanced Development revenue of approximately $15 million
- Laser Products gross margin in the range of 21% to 25%
- Overall gross margin to be in the range of 17% to 21%
- Adjusted EBITDA to be in the range of ($5) million to ($2) million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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