nLIGHT, Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 261.3M, using the latest reported figures. The previous period, 2024, was about USD 198.5M.

Watchlist

Latest quarter

Revenue

82.6 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-4.32%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -3567000 USD Source
  • Revenue: 82591000 USD Source

Operating cash flow

20.7 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 30416000 USD Source
  • Operating Cash Flow: 9683000 USD Source

Free cash flow

15.9 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 30416000 USD Source
  • Operating Cash Flow: 9683000 USD Source
  • Capital Expenditure: 6963000 USD Source
  • Capital Expenditure: 2113000 USD Source
Cash and cash equivalents
296 million USD Source
Exact value

295761000 USD

Long-term debt including current maturities
121 thousand USD Source
Exact value

121000 USD

Shares outstanding
57.7 million shares Source
Exact value

57658000 shares

Reported share-count change

15.59% · 7.78 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 49883000 shares · 2025-06-30· Source
  • 57658000 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

311 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 66742000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 261330000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 180145000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 80181000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 82591000 USD · 2026-04-01 – 2026-06-30 Source

Net income

-12.5 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: -6874000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: -23467000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: -18558000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 645000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: -1339000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

53.2 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 3812000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -1405000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 21330000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 3812000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 9683000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 30416000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 9683000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

11.3 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Capital expenditure: 7444000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 4674000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 9032000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 7444000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 2113000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 6963000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 2113000 USD · 2026-01-01 – 2026-03-31 Source

Free cash flow

41.8 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 3812000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -1405000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 21330000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 3812000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 9683000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 30416000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 9683000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 7444000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 4674000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 9032000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 7444000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 2113000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 6963000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 2113000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-07.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 10 of 11 periods available· newest 2025-12-31
  • Operating income: 10 of 11 periods available· newest 2025-12-31
  • Net income: 10 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 10 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 8 of 11 periods available· newest 2025-12-31
  • Total assets: 9 of 11 periods available· newest 2025-12-31
  • Total liabilities: 9 of 11 periods available· newest 2025-12-31
  • Current assets: 9 of 11 periods available· newest 2025-12-31
  • Current liabilities: 9 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 10 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 2 of 11 periods available· newest 2018-12-31
  • Shares outstanding: 9 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +31.6%

    Prior period

    USD 198.55 million

    –

    Current period

    USD 261.33 million

    –

    Exact inputs and evidence

    261330000 − 198548000 = 62782000 USD

    198548000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    261330000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +USD 37.33 million

    Prior period

    −USD 60.79 million

    –

    Current period

    −USD 23.47 million

    –

    Exact inputs and evidence

    -23467000 − -60792000 = 37325000 USD

    -60792000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -23467000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +USD 23.69 million

    Prior period

    −USD 2.36 million

    –

    Current period

    USD 21.33 million

    –

    Exact inputs and evidence

    21330000 − -2359000 = 23689000 USD

    -2359000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    21330000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +13.9%

    Prior period

    USD 7.93 million

    –

    Current period

    USD 9.03 million

    –

    Exact inputs and evidence

    9032000 − 7932000 = 1100000 USD

    7932000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    9032000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 261.33 million 100% of revenue
  • Cost of revenue USD 183.37 million 70% of revenue
  • Operating expenses USD 104.51 million 40% of revenue
  • Operating income −USD 26.55 million −10% of revenue
  • Tax, interest and other Derived −USD 3.08 million −1.2% of revenue
  • Net income −USD 23.47 million −9% of revenue

Cash

  • Operating cash flow USD 21.33 million 8.2% of revenue
  • Capital expenditure USD 9.03 million 3.5% of revenue
  • Free cash flow Derived USD 12.3 million 4.7% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 Operating loss: operating costs were 109% of revenue.
  • 2017 93%
  • 2018 91%
  • 2019 Operating loss: operating costs were 106% of revenue.
  • 2020 Operating loss: operating costs were 109% of revenue.
  • 2021 Operating loss: operating costs were 111% of revenue.
  • 2022 Operating loss: operating costs were 123% of revenue.
  • 2023 Operating loss: operating costs were 122% of revenue.
  • 2024 Operating loss: operating costs were 133% of revenue.
  • 2025 Operating loss: operating costs were 110% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-31101325000 110663000 Derived -9338000 4864000 Derived -14202000 Unavailable
Source
2017 2017-01-01 – 2017-12-31138580000 128782000 Derived 9798000 7961000 Derived 1837000 Unavailable
Source
2018 2018-01-01 – 2018-12-31191359000 174296000 Derived 17063000 3125000 Derived 13938000 -7206000 Derived
Source
2019 2019-01-01 – 2019-12-31176619000 186528000 Derived -9909000 2975000 Derived -12884000 -16644000 Derived
Source
2020 2020-01-01 – 2020-12-31222789000 243837000 Derived -21048000 -116000 Derived -20932000 -10375000 Derived
Source
2021 2021-01-01 – 2021-12-31270146000 300363000 Derived -30217000 -548000 Derived -29669000 -26760000 Derived
Source
2022 2022-01-01 – 2022-12-31242058000 297160000 Derived -55102000 -523000 Derived -54579000 -35930000 Derived
Source
2023 2023-01-01 – 2023-12-31209921000 256687000 Derived -46766000 -5096000 Derived -41670000 4752000 Derived
Source
2024 2024-01-01 – 2024-12-31198548000 264184000 Derived -65636000 -4844000 Derived -60792000 -10291000 Derived
Source
2025 2025-01-01 – 2025-12-31261330000 287880000 Derived -26550000 -3083000 Derived -23467000 12298000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 261.3M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.291.8M218.8M145.9M72.9M0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue101325000
2017Revenue138580000
2018Revenue191359000
2019Revenue176619000
2020Revenue222789000
2021Revenue270146000
2022Revenue242058000
2023Revenue209921000
2024Revenue198548000
2025Revenue261330000

Revenue growth

Change in revenue from the same financial period one year earlier.

31.6% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.42%27%12%-2%-17%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over yearNo prior comparable period
2017Year over year36.8%
2018Year over year38.1%
2019Year over year-7.7%
2020Year over year26.1%
2021Year over year21.3%
2022Year over year-10.4%
2023Year over year-13.3%
2024Year over year-5.4%
2025Year over year31.6%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -10.2% 2025
Net margin -9% 2025
Free cash flow margin 4.7% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.12%0%-12%-24%-36%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin-9.2%
2017Operating margin7.1%
2018Operating margin8.9%
2019Operating margin-5.6%
2020Operating margin-9.4%
2021Operating margin-11.2%
2022Operating margin-22.8%
2023Operating margin-22.3%
2024Operating margin-33.1%
2025Operating margin-10.2%
2016Net margin-14%
2017Net margin1.3%
2018Net margin7.3%
2019Net margin-7.3%
2020Net margin-9.4%
2021Net margin-11%
2022Net margin-22.5%
2023Net margin-19.9%
2024Net margin-30.6%
2025Net margin-9%
2016Free cash flow marginNot reported
2017Free cash flow marginNot reported
2018Free cash flow margin-3.8%
2019Free cash flow margin-9.4%
2020Free cash flow margin-4.7%
2021Free cash flow margin-9.9%
2022Free cash flow margin-14.8%
2023Free cash flow margin2.3%
2024Free cash flow margin-5.2%
2025Free cash flow margin4.7%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 21.3M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.24.2M13.8M3.4M-7.0M-17.4M201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow5959000
2017Operating cash flow3411000
2018Operating cash flow3376000
2019Operating cash flow-4241000
2020Operating cash flow13041000
2021Operating cash flow-7443000
2022Operating cash flow-14542000
2023Operating cash flow10091000
2024Operating cash flow-2359000
2025Operating cash flow21330000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 12.3M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.16.2M2.2M-11.8M-25.8M-39.8M201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flowUnavailable
2017Free cash flowUnavailable
2018Free cash flow-7206000
2019Free cash flow-16644000
2020Free cash flow-10375000
2021Free cash flow-26760000
2022Free cash flow-35930000
2023Free cash flow4752000
2024Free cash flow-10291000
2025Free cash flow12298000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

28.1% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.48%36%24%12%0%2016-12-3120212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Liabilities / assetsNot reportedNo source recorded
2017Liabilities / assets44.4%
2018Liabilities / assets12.9%
2019Liabilities / assets13.3%
2020Liabilities / assets22.5%
2021Liabilities / assets19.1%
2022Liabilities / assets17.7%
2023Liabilities / assets17.1%
2024Liabilities / assets19.9%
2025Liabilities / assets28.1%

Current assets to current liabilities

Current assets divided by current liabilities.

3.79× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.10.01×7.51×5.01×2.50×0.00×2016-12-3120212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Current assets / current liabilitiesNot reportedNo source recorded
2017Current assets / current liabilities2.93×
2018Current assets / current liabilities9.27×
2019Current assets / current liabilities7.93×
2020Current assets / current liabilities4.85×
2021Current assets / current liabilities6.06×
2022Current assets / current liabilities6.69×
2023Current assets / current liabilities6.73×
2024Current assets / current liabilities5.67×
2025Current assets / current liabilities3.79×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
−USD 14.2 million
Exact value

Exact value: -14202000 USD

2016-01-01 – 2016-12-31: -14202000 USD Inspect Net Income Open source
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USD 5.96 million
Exact value

Exact value: 5959000 USD

2016-01-01 – 2016-12-31: 5959000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2017 2017-01-01 – 2017-12-31
USD 1.84 million
Exact value

Exact value: 1837000 USD

2017-01-01 – 2017-12-31: 1837000 USD Inspect Net Income Open source
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USD 3.41 million
Exact value

Exact value: 3411000 USD

2017-01-01 – 2017-12-31: 3411000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2018 2018-01-01 – 2018-12-31
USD 13.94 million
Exact value

Exact value: 13938000 USD

2018-01-01 – 2018-12-31: 13938000 USD Inspect Net Income Open source
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USD 3.38 million
Exact value

Exact value: 3376000 USD

2018-01-01 – 2018-12-31: 3376000 USD Inspect Operating Cash Flow Open source
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USD 10.58 million
Exact value

Exact value: 10582000 USD

2018-01-01 – 2018-12-31: 10582000 USD Inspect Capital Expenditure Open source
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−USD 7.21 million
Calculation and evidence

3376000 − 10582000 USD

Exact free cash flow: -7206000 USD

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2019 2019-01-01 – 2019-12-31
−USD 12.88 million
Exact value

Exact value: -12884000 USD

2019-01-01 – 2019-12-31: -12884000 USD Inspect Net Income Open source
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−USD 4.24 million
Exact value

Exact value: -4241000 USD

2019-01-01 – 2019-12-31: -4241000 USD Inspect Operating Cash Flow Open source
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USD 12.4 million
Exact value

Exact value: 12403000 USD

2019-01-01 – 2019-12-31: 12403000 USD Inspect Capital Expenditure Open source
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−USD 16.64 million
Calculation and evidence

-4241000 − 12403000 USD

Exact free cash flow: -16644000 USD

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2020 2020-01-01 – 2020-12-31
−USD 20.93 million
Exact value

Exact value: -20932000 USD

2020-01-01 – 2020-12-31: -20932000 USD Inspect Net Income Open source
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USD 13.04 million
Exact value

Exact value: 13041000 USD

2020-01-01 – 2020-12-31: 13041000 USD Inspect Operating Cash Flow Open source
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USD 23.42 million
Exact value

Exact value: 23416000 USD

2020-01-01 – 2020-12-31: 23416000 USD Inspect Capital Expenditure Open source
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−USD 10.38 million
Calculation and evidence

13041000 − 23416000 USD

Exact free cash flow: -10375000 USD

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2021 2021-01-01 – 2021-12-31
−USD 29.67 million
Exact value

Exact value: -29669000 USD

2021-01-01 – 2021-12-31: -29669000 USD Inspect Net Income Open source
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−USD 7.44 million
Exact value

Exact value: -7443000 USD

2021-01-01 – 2021-12-31: -7443000 USD Inspect Operating Cash Flow Open source
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USD 19.32 million
Exact value

Exact value: 19317000 USD

2021-01-01 – 2021-12-31: 19317000 USD Inspect Capital Expenditure Open source
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−USD 26.76 million
Calculation and evidence

-7443000 − 19317000 USD

Exact free cash flow: -26760000 USD

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2022 2022-01-01 – 2022-12-31
−USD 54.58 million
Exact value

Exact value: -54579000 USD

2022-01-01 – 2022-12-31: -54579000 USD Inspect Net Income Open source
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−USD 14.54 million
Exact value

Exact value: -14542000 USD

2022-01-01 – 2022-12-31: -14542000 USD Inspect Operating Cash Flow Open source
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USD 21.39 million
Exact value

Exact value: 21388000 USD

2022-01-01 – 2022-12-31: 21388000 USD Inspect Capital Expenditure Open source
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−USD 35.93 million
Calculation and evidence

-14542000 − 21388000 USD

Exact free cash flow: -35930000 USD

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2023 2023-01-01 – 2023-12-31
−USD 41.67 million
Exact value

Exact value: -41670000 USD

2023-01-01 – 2023-12-31: -41670000 USD Inspect Net Income Open source
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USD 10.09 million
Exact value

Exact value: 10091000 USD

2023-01-01 – 2023-12-31: 10091000 USD Inspect Operating Cash Flow Open source
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USD 5.34 million
Exact value

Exact value: 5339000 USD

2023-01-01 – 2023-12-31: 5339000 USD Inspect Capital Expenditure Open source
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USD 4.75 million
Calculation and evidence

10091000 − 5339000 USD

Exact free cash flow: 4752000 USD

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2024 2024-01-01 – 2024-12-31
−USD 60.79 million
Exact value

Exact value: -60792000 USD

2024-01-01 – 2024-12-31: -60792000 USD Inspect Net Income Open source
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−USD 2.36 million
Exact value

Exact value: -2359000 USD

2024-01-01 – 2024-12-31: -2359000 USD Inspect Operating Cash Flow Open source
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USD 7.93 million
Exact value

Exact value: 7932000 USD

2024-01-01 – 2024-12-31: 7932000 USD Inspect Capital Expenditure Open source
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−USD 10.29 million
Calculation and evidence

-2359000 − 7932000 USD

Exact free cash flow: -10291000 USD

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2025 2025-01-01 – 2025-12-31
−USD 23.47 million
Exact value

Exact value: -23467000 USD

2025-01-01 – 2025-12-31: -23467000 USD Inspect Net Income Open source
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USD 21.33 million
Exact value

Exact value: 21330000 USD

2025-01-01 – 2025-12-31: 21330000 USD Inspect Operating Cash Flow Open source
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USD 9.03 million
Exact value

Exact value: 9032000 USD

2025-01-01 – 2025-12-31: 9032000 USD Inspect Capital Expenditure Open source
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USD 12.3 million
Calculation and evidence

21330000 − 9032000 USD

Exact free cash flow: 12298000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

40 filings · 3,886 latest values · 3,886 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001124796, 1124796, LASR, edgar:1124796

Also known as NLIGHT PHOTONICS CORP, NLIGHT, INC., nLIGHT, Inc.