The following is a summary of the NLIGHT, Inc. (LASR) Q1 2024 Earnings Call Transcript:
Financial Performance:
nLIGHT reported Q1 2024 revenue of $44.5 million, down by 18% compared to Q1 2023.
It had gross margins of around 17% in the quarter.
The company successfully managed to increase cash and investments to $121 million while carrying no debt.
The net loss on a GAAP basis for Q1 stood at $13.8 million or $0.29 per diluted share.
nLIGHT's balance sheet is strong with total cash and investments of $121.3 million by the end of the first quarter.
Business Progress:
nLIGHT saw overall growth in Q2 2024 with promising projections for the second half.
The company has been transitioning its manufacturing operations from China to the U.S. and increasing investments in technology and capability enhancements.
nLIGHT is serving both commercial and defense markets and is becoming a key supplier for defense departments.
The engineering team continues to produce innovative products.
The company reported successful integration of their technology into programs like the Army's M-SHORAD and anticipates the unveiling of new products in the future.
Growth opportunities have been identified in the EV battery space and there is a focus on providing customers with more reliable, high-performance lasers.
Operational costs and spending plans are expected to remain stable throughout the year, while the projected growth in the second half could lead to profits.
More details: nLIGHT IR
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