Short answer
NLIGHT, INC. (LASR) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $261M (+31.6% year over year) and net income of −$23M.
- Top risk flagged: Cybersecurity breach risk with potential material adverse impact on operations, managed under oversight of Board's Information Technology and Security Committee
FY2025 key financial metrics · XBRL
- Revenue
- $261M
- +31.6% YoY
- Net income
- −$23M
- +61.4% YoY
- Operating margin
- -10.2%
- +22.9 pp YoY
- Gross margin
- 29.8%
- +13.2 pp YoY
- EPS (diluted)
- −$0.47
- +63.0% YoY
- ROE
- -10.3%
- +17.7 pp YoY
- Operating cash flow
- $21M
- +1004.2% YoY
Source: XBRL data from the NLIGHT, INC. (LASR) FY2025 10-K on SEC EDGAR. USD.
NLIGHT, INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Design, manufacture, and sale of high-power semiconductor and fiber lasers for aerospace, defense, industrial, and microfabrication markets
- Emphasis on Advanced Development segment focused on next-generation directed energy and laser sensing technologies for government defense applications
- Strategic leveraging of vertical integration for rapid product innovation and superior semiconductor laser chip brilliance
- Top 10 customers accounted for 75% of revenues in 2025, up from 72% in 2024, showing increased revenue concentration
- Advanced programmable fiber lasers with field serviceability and multi-laser additive manufacturing solutions highlighted as growth drivers
Management Discussion & Analysis
- Revenue $261.3M in 2025, up 31.6% YoY from $198.5M; Aerospace & Defense best segment $175.3M (+60%), Industrial worst $38.8M (-14.8%)
- Gross margin improved to 29.8% in 2025 from 16.6% in 2024; Laser Products margin 39.2% vs 22.8%, Advanced Development margin 12.4% vs 7.0%
- Operating loss narrowed to 10.2% of revenue in 2025 vs 33.1% in 2024; net loss $23.5M vs $60.8M prior year
- Cash, equivalents & marketable securities grew $33M to $133.9M end 2025; operating cash flow positive $21.3M vs negative $2.4M; drew $20M on credit line; no buybacks/dividends disclosed; capex reflected in investing activities but incomplete data
- Management cites risks from global tariffs, market cycles, and competition; expects continued R&D investment and uncertainty in trade policies; existing liquidity sufficient for next 12 months
Risk Factors
- Cybersecurity breach risk with potential material adverse impact on operations, managed under oversight of Board's Information Technology and Security Committee
- No identified regulatory or legal risk specific to laws, cases, or agencies disclosed in filing
- Information security leadership by Senior Director of IT & Information Security, Certified Information Systems Security Professional (CISSP) reporting to COO
- No explicit competitive or market disruption risk related to named competitors or technologies detailed
- No financial or structural risks such as leverage or key-person dependency specifically described in this section
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