LASR on Nasdaq
nLight
We operate in two reportable segments, consisting of the Laser Products segment and the Advanced Development segment.5 From its latest annual report
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Last updated Oct 19, 2026.
Overview
2000Founded1
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- TickerLASR on Nasdaq1
- IndustrySemiconductors & Related Devices1
- HeadquartersVancouver1
- Websitewww.nlight.net
- Incorporated inDE3
- Business address4637 Nw 18Th Avenue, Camas, Wa 986073
- Filer categoryLarge accelerated filer3
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We operate in two reportable segments, consisting of the Laser Products segment and the Advanced Development segment.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
29.8%Gross margin6
-10.2%Operating margin6
-9.0%Net margin6
31.6%Revenue growth, 20256
-10.3%Return on equity6
$12.3MFree cash flow6
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Aerospace and Defense brought in 51% of the revenue nLight broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Aerospace and Defense | $91.4M | $109.5M | $175.3M |
| Development | $53.3M | $61.9M | $82.1M |
| Microfabrication | $47.5M | $43.4M | $47.2M |
| Industrial | $71.0M | $45.6M | $38.8M |
Business segments
Laser Products brought in 69% of the revenue nLight broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Laser Products | $156.7M | $136.7M | $179.2M |
| Advanced Development | $53.3M | $61.9M | $82.1M |
Regions
North America brought in 71% of the revenue nLight broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| North America | $129.3M | $132.8M | $185.6M |
| Asia Pacific | $45.8M | $38.1M | $38.4M |
| EMEA | $34.8M | $27.6M | $37.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue64¢$183.4M
- Research and development17¢$48.0M
- Selling, general and admin19¢$54.2M
- Income tax0¢$699.0K
Out of $261.3M in revenue.6 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending42¢$9.0M
- Kept or used elsewhere58¢$12.3M
Out of $21.3M of cash from operations.6
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $261.3M | $198.5M | $209.9M |
| Total cost of revenue | $183.4M | $165.5M | $163.8M |
| Gross profit | $78.0M | $33.0M | $46.1M |
| Research and development | $48.0M | $45.1M | $46.2M |
| Sales, general, and administrative | $54.2M | $49.3M | $45.9M |
| Restructuring | $2.3M | $4.3M | $817.0K |
| Total operating expenses | $104.5M | $98.7M | $92.9M |
| Loss from operations | -$26.6M | -$65.6M | -$46.8M |
| Interest income | $4.9M | $1.8M | $1.4M |
| Interest expense | -$1.1M | -$105.0K | -$67.0K |
| Other (expense) income, net | -$40.0K | $3.1M | $2.8M |
| Loss before income taxes | -$22.8M | -$60.9M | -$42.6M |
| Income tax expense (benefit) | $699.0K | -$76.0K | -$978.0K |
| Net loss | -$23.5M | -$60.8M | -$41.7M |
| Net loss per share, basic (in dollars per share) | -$0.47 | -$1.27 | -$0.90 |
| Net loss per share, diluted (in dollars per share) | -$0.47 | -$1.27 | -$0.90 |
| Shares used in per share calculations, basic (in shares) | 50.0M shares | 47.9M shares | 46.1M shares |
| Shares used in per share calculations, diluted (in shares) | 50.0M shares | 47.9M shares | 46.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $98.7M | $65.8M | $53.2M | |
| Marketable securities | $34.9M | $34.9M | ||
| Accounts receivable, net of allowances of $520 and $1,800 | $50.8M | $34.9M | ||
| Inventory | $45.4M | $40.8M | ||
| Prepaid expenses and other current assets | $13.3M | $17.7M | ||
| Total current assets | $243.2M | $194.1M | ||
| Restricted cash | $322.0K | $259.0K | $256.0K | |
| Lease right-of-use assets | $15.0M | $10.8M | ||
| Property, plant and equipment, net | $42.1M | $46.9M | ||
| Intangible assets, net | $0 | $833.0K | ||
| Goodwill | $12.4M | $12.4M | $12.4M | |
| Other assets, net | $2.1M | $4.9M | ||
| Total assets | $315.2M | $270.2M | ||
| Accounts payable | $20.9M | $15.1M | ||
| Accrued liabilities | $19.1M | $13.3M | ||
| Deferred revenues | $1.5M | $3.6M | ||
| Current portion of lease liabilities | $2.8M | $2.3M | ||
| Line of credit | $20.0M | $0 | ||
| Total current liabilities | $64.2M | $34.2M | ||
| Non-current income taxes payable | $5.9M | $5.5M | ||
| Long-term lease liabilities | $13.4M | $9.8M | ||
| Other long-term liabilities | $4.9M | $4.2M | ||
| Total liabilities | $88.5M | $53.8M | ||
| Common stock - $0.0001 par value; 190,000 shares authorized, 51,163 and 48,948 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $16.0K | $16.0K | ||
| Additional paid-in capital | $578.4M | $544.8M | ||
| Accumulated other comprehensive loss | -$3.1M | -$3.3M | ||
| Accumulated deficit | -$348.6M | -$325.1M | ||
| Total stockholders equity | $226.7M | $216.4M | $254.4M | $270.8M |
| Total liabilities and stockholders equity | $315.2M | $270.2M | ||
| Accounts receivable, net of allowances | $520.0K | $1.8M | $315.0K | $290.0K |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, authorized (in shares) | 190.0M shares | 190.0M shares | ||
| Common stock, issued (in shares) | 51.2M shares | 48.9M shares | ||
| Common stock, outstanding (in shares) | 51.2M shares | 48.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $98.7M | $65.8M | $53.2M | |
| Marketable securities | $34.9M | $34.9M | ||
| Accounts receivable, net of allowances of $520 and $1,800 | $50.8M | $34.9M | ||
| Inventory | $45.4M | $40.8M | ||
| Prepaid expenses and other current assets | $13.3M | $17.7M | ||
| Total current assets | $243.2M | $194.1M | ||
| Restricted cash | $322.0K | $259.0K | $256.0K | |
| Lease right-of-use assets | $15.0M | $10.8M | ||
| Property, plant and equipment, net | $42.1M | $46.9M | ||
| Intangible assets, net | $0 | $833.0K | ||
| Goodwill | $12.4M | $12.4M | $12.4M | |
| Other assets, net | $2.1M | $4.9M | ||
| Total assets | $315.2M | $270.2M | ||
| Accounts payable | $20.9M | $15.1M | ||
| Accrued liabilities | $19.1M | $13.3M | ||
| Deferred revenues | $1.5M | $3.6M | ||
| Current portion of lease liabilities | $2.8M | $2.3M | ||
| Line of credit | $20.0M | $0 | ||
| Total current liabilities | $64.2M | $34.2M | ||
| Non-current income taxes payable | $5.9M | $5.5M | ||
| Long-term lease liabilities | $13.4M | $9.8M | ||
| Other long-term liabilities | $4.9M | $4.2M | ||
| Total liabilities | $88.5M | $53.8M | ||
| Common stock - $0.0001 par value; 190,000 shares authorized, 51,163 and 48,948 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $16.0K | $16.0K | ||
| Additional paid-in capital | $578.4M | $544.8M | ||
| Accumulated other comprehensive loss | -$3.1M | -$3.3M | ||
| Accumulated deficit | -$348.6M | -$325.1M | ||
| Total stockholders equity | $226.7M | $216.4M | $254.4M | $270.8M |
| Total liabilities and stockholders equity | $315.2M | $270.2M | ||
| Accounts receivable, net of allowances | $520.0K | $1.8M | $315.0K | $290.0K |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, authorized (in shares) | 190.0M shares | 190.0M shares | ||
| Common stock, issued (in shares) | 51.2M shares | 48.9M shares | ||
| Common stock, outstanding (in shares) | 51.2M shares | 48.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$23.5M | -$60.8M | -$41.7M |
| Depreciation | $12.3M | $13.0M | $12.4M |
| Amortization | $1.9M | $4.6M | $3.6M |
| (Increase) reduction in carrying amount of right-of-use assets | -$4.1M | $1.8M | $1.3M |
| (Recoveries of) provision for losses on accounts receivable | -$1.1M | $1.5M | $27.0K |
| Stock-based compensation | $33.4M | $25.0M | $25.8M |
| Deferred income taxes | $159.0K | -$651.0K | $7.0K |
| Loss on disposal of property, plant and equipment | $160.0K | $194.0K | $542.0K |
| Accrued interest earned on marketable securities | -$500.0K | $0 | $0 |
| Non-cash restructuring charges | $1.4M | $1.2M | $0 |
| Accounts receivable, net | -$14.7M | $2.8M | -$1.7M |
| Inventory | -$4.2M | $11.0M | $14.9M |
| Prepaid expenses and other current assets | $4.4M | -$1.8M | $1.1M |
| Other assets, net | $1.4M | -$1.1M | -$1.2M |
| Accounts payable | $5.9M | $3.2M | -$4.5M |
| Accrued and other long-term liabilities | $6.1M | $706.0K | -$1.3M |
| Deferred revenues | -$2.1M | -$1.2M | $3.4M |
| Lease liabilities | $3.9M | -$2.0M | -$1.4M |
| Non-current income taxes payable | $277.0K | $204.0K | -$1.3M |
| Net cash provided by (used in) operating activities | $21.3M | -$2.4M | $10.1M |
| Proceeds from sale of fixed assets | $542.0K | $0 | $0 |
| Purchases of property, plant and equipment | -$9.0M | -$7.9M | -$5.3M |
| Purchase of marketable securities | -$78.6M | -$88.6M | -$127.9M |
| Proceeds from maturities and sales of marketable securities | $78.3M | $113.3M | $119.1M |
| Net cash (used in) provided by investing activities | -$8.8M | $16.7M | -$14.1M |
| Proceeds from line of credit | $20.0M | $0 | $0 |
| Proceeds from employee stock plan purchases | $2.9M | $2.7M | $2.5M |
| Proceeds from stock option exercises | $281.0K | $500.0K | $640.0K |
| Tax payments related to stock award issuances | -$3.1M | -$4.5M | -$4.0M |
| Net cash provided by (used in) financing activities | $20.1M | -$1.3M | -$859.0K |
| Effect of exchange rate changes on cash | $264.0K | -$406.0K | $256.0K |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $32.9M | $12.6M | -$4.6M |
| Cash paid for interest | $1.1M | $61.0K | $40.0K |
| Operating cash outflows from operating leases | $3.5M | $4.0M | $3.9M |
| Right-of-use assets obtained in exchange for lease liabilities | $6.6M | $1.3M | $1.7M |
| Accrued purchases of property, equipment and patents | $409.0K | $298.0K | $745.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led nLight, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
20052010201520202025
- Chief executive officerScott H. Keeney Apr 25, 2018 to now14
- PresidentScott H. Keeney Apr 25, 2018 to now14
- Chief financial officerJoseph John Corso Mar 3, 2022 to now15
- Chief financial officerRan Bareket Apr 25, 2018 to Mar 2, 202216
Board members and other officers (11)
- Chief Accounting OfficerJames Nias Mar 3, 2022 to now17
- Chief Technical OfficerRobert Martinsen Apr 25, 2018 to Jul 2, 202018
- Board memberGerald M. Haines Ii. Jan 7, 2026 to now19
- Board memberMark D. Hartman Jun 16, 2025 to now20
- Board memberCamille Nichols Nov 6, 2020 to now21
- Board memberBandel L. Carano Apr 25, 2018 to now22
- Board memberDavid D. Osborne Apr 25, 2018 to Nov 20, 201823
- Board memberDouglas C. Carlisle Apr 25, 2018 to now24
- Board memberRaymond A. Link Apr 25, 2018 to now25
- Board memberScott H. Keeney Apr 25, 2018 to now14
- Board memberWilliam Gossman Apr 25, 2018 to now26
Former names
- NLIGHT PHOTONICS CORPFeb 5, 2004 to Jul 30, 20153
Timeline
Filings
471 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 35 major events, 237 insider forms, 27 large holders, 152 other. The latest 20:
- Oct 15, 2026144 EDGAR
- Sep 17, 20264 EDGAR
- Sep 15, 2026144 EDGAR
- Sep 10, 20264 EDGAR
- Sep 9, 2026144 EDGAR
- Sep 8, 2026144 EDGAR
- Sep 8, 20264 EDGAR
- Sep 8, 20264 EDGAR
- Sep 8, 20264 EDGAR
- Sep 4, 2026144 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 1, 20264 EDGAR
- Aug 28, 2026144 EDGAR
- Aug 25, 20264 EDGAR
- Aug 24, 2026144 EDGAR
- Aug 21, 2026144 EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
The 471 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
125 open-market trades by officers, directors and large owners since October 2021: 1 buys and 124 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 15, 2026 | MOORE GEOFFREYDirector | Sale | 4,452 | $38.45 | $171.2K | Form 4 |
| Sep 9, 2026 | Keeney Scott HPresident and CEO | Sale | 100,000 | $41.01 | $4.1M | Form 4 |
| Sep 8, 2026 | Keeney Scott HPresident and CEO | Sale | 115,252 | $41.32 | $4.8M | Form 4 |
| Sep 4, 2026 | Corso Joseph JohnChief Financial Officer | Sale | 3,524 | $41.49 | $146.2K | Form 4 |
| Sep 3, 2026 | Corso Joseph JohnChief Financial Officer | Sale | 4,191 | $40.69 | $170.5K | Form 4 |
| Sep 3, 2026 | Keeney Scott HPresident and CEO | Sale | 9,753 | $40.69 | $396.9K | Form 4 |
| Sep 3, 2026 | Nias JamesChief Accounting Officer | Sale | 1,025 | $40.69 | $41.7K | Form 4 |
| Aug 28, 2026 | Gossman WilliamDirector | Sale | 15,000 | $44.36 | $665.4K | Form 4 |
| Aug 24, 2026 | Keeney Scott HPresident and CEO | Sale | 181,750 | $44.15 | $8.0M | Form 4 |
| Aug 21, 2026 | Keeney Scott HPresident and CEO | Sale | 181,750 | $46.88 | $8.5M | Form 4 |
| Jun 4, 2026 | Keeney Scott HPresident and CEO | Sale | 16,089 | $74.60 | $1.2M | Form 4 |
| Jun 4, 2026 | Corso Joseph JohnChief Financial Officer | Sale | 3,817 | $72.90 | $278.3K | Form 4 |
| Jun 3, 2026 | Keeney Scott HPresident and CEO | Sale | 8,901 | $77.99 | $694.2K | Form 4 |
| Jun 3, 2026 | Nias JamesChief Accounting Officer | Sale | 940 | $77.99 | $73.3K | Form 4 |
| Jun 3, 2026 | Corso Joseph JohnChief Financial Officer | Sale | 3,840 | $77.99 | $299.5K | Form 4 |
| May 29, 2026 | Keeney Scott HPresident and CEO | Sale | 41,371 | $73.36 | $3.0M | Form 4 |
| May 28, 2026 | Keeney Scott HPresident and CEO | Sale | 41,373 | $78.64 | $3.3M | Form 4 |
| May 21, 2026 | Keeney Scott HPresident and CEO | Sale | 41,373 | $75.19 | $3.1M | Form 4 |
| May 20, 2026 | Corso Joseph JohnChief Financial Officer | Sale | 35,476 | $70.40 | $2.5M | Form 4 |
| May 20, 2026 | Nias JamesChief Accounting Officer | Sale | 415 | $71.09 | $29.5K | Form 4 |
All 125 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD GROUP INCSCHEDULE 13G/A, 9 filings Feb 10, 2022 to Mar 27, 202627
- NEEDHAM INVESTMENT MANAGEMENT LLCSCHEDULE 13G/A, 2 filings Feb 13, 2025 to Aug 13, 202528
- Senvest Management, LLCSCHEDULE 13G/A, 2 filings Dec 20, 2024 to Aug 11, 202529
- ROYCE & ASSOCIATES LPSCHEDULE 13G/A, 2 filings Oct 17, 2024 to Jul 16, 202530
- JPMorgan ChaseSC 13G/A, 4 filings Jan 14, 2022 to Sep 5, 202431
- The Bank of New York MellonSC 13G/A, 2 filings Jan 24, 2024 to Jun 10, 202432
- WASATCH ADVISORS LPSC 13G/A, 3 filings Feb 11, 2022 to Feb 10, 202333
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 4,879,159 | $339.7M | 0.0% | +559,849 |
| Vanguard Capital Management LLC | 2,398,757 | $167.0M | 0.0% | +73,327 |
| Vanguard Portfolio Management LLC | 2,197,052 | $153.0M | 0.0% | −270,518 |
| Needham Investment Management LLC | 1,992,740 | $138.7M | 4.2% | +70,000 |
| Driehaus Capital Management LLC | 1,986,119 | $138.3M | 0.8% | +213,422 |
| Invesco Ltd. | 1,641,651 | $114.3M | 0.0% | +439,112 |
| Geode Capital Management, LLC | 1,634,809 | $113.8M | 0.0% | +193,763 |
| Neuberger Berman Group LLC | 1,466,211 | $101.7M | 0.1% | +515,461 |
| State Street Corp | 1,278,751 | $89.0M | 0.0% | +192,291 |
| Fmr LLC | 1,062,847 | $74.0M | 0.0% | −38,939 |
| Jpmorgan Chase & Co | 1,027,352 | $67.0M | 0.0% | +830,454 |
| AWM Investment Company, Inc. | 939,011 | $65.4M | 5.7% | −84,728 |
| Van Eck Associates Corp | 929,609 | $64.7M | 0.0% | −118,716 |
| Gilder Gagnon Howe & Co LLC | 840,995 | $58.6M | 0.6% | +54,710 |
| Hood River Capital Management LLC | 836,229 | $58.2M | 0.4% | −86,750 |
| Goldman Sachs Group Inc | 783,559 | $54.6M | 0.0% | +290,679 |
| Dimensional Fund Advisors LP | 777,085 | $54.1M | 0.0% | +56,496 |
| Nuveen, LLC | 751,064 | $52.3M | 0.0% | +205,192 |
| Alliancebernstein L.P. | 913,895 | $52.1M | 0.0% | −192,253 |
| Emerald Advisers, LLC | 736,848 | $51.3M | 1.2% | −9,826 |
| Pinnacle Associates Ltd | 712,536 | $49.6M | 0.5% | −35,763 |
| Arrowstreet Capital, Limited Partnership | 689,858 | $48.0M | 0.0% | +104,471 |
| Artisan Partners Limited Partnership | 607,690 | $42.3M | 0.1% | −470,096 |
| Northern Trust Corp | 597,770 | $41.6M | 0.0% | +79,356 |
| Raymond James Financial Inc | 554,978 | $38.6M | 0.0% | +235,772 |
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websitewww.nlight.net1
- WikidataQ6954695
- SEC EDGARCIK 1124796
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidatanLight on Wikidata
- 2SEC EDGARnLight filings on SEC EDGAR
- 3SEC EDGARnLight filings on SEC EDGAR
- 4Company websitenLight photo
- 5
- 6SEC EDGARnLight 10-K for fiscal 2025
- 7SEC EDGARnLight 10-K for fiscal 2019
- 8SEC EDGARnLight 10-K for fiscal 2020
- 9SEC EDGARnLight 10-K for fiscal 2021
- 10SEC EDGARnLight 10-K for fiscal 2022
- 11SEC EDGARnLight 10-Q for fiscal 2026
- 12SEC EDGARnLight 10-Q for fiscal 2026
- 13SEC EDGARnLight 10-K for fiscal 2019
- 14
- 15
- 16SEC EDGARRan Bareket, Chief financial officer
- 17SEC EDGARJames Nias, Chief Accounting Officer
- 18
- 19SEC EDGARGerald M. Haines Ii., Board member
- 20SEC EDGARMark D. Hartman, Board member
- 21SEC EDGARCamille Nichols, Board member
- 22SEC EDGARBandel L. Carano, Board member
- 23SEC EDGARDavid D. Osborne, Board member
- 24SEC EDGARDouglas C. Carlisle, Board member
- 25SEC EDGARRaymond A. Link, Board member
- 26SEC EDGARWilliam Gossman, Board member
- 27
- 28
- 29
- 30
- 31SEC EDGARJPMorgan Chase SC 13G/A on nLight
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- 33