nLIGHT, Inc. has recently released its 10-K report, offering detailed insights into its business operations and financial performance. The company, headquartered in Camas, Washington, specializes in designing, manufacturing, and selling semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates through two segments: Laser Products and Advanced Development, and sells its products through direct sales force, independent sales representatives, and distributors in various countries.
In the year ended December 31, 2023, nLIGHT reported a decrease in revenues to $209.9 million compared to $242.1 million in 2022. This decline was primarily attributed to a decrease in sales in the Laser Products segment, partially offset by an increase in sales in the Advanced Development segment. The company also reported a net loss of $41.7 million for 2023, compared to a net loss of $54.6 million in 2022.
nLIGHT's financial performance is influenced by various factors, including demand for its semiconductor and fiber laser solutions, technology and new product development, manufacturing costs and gross margins, and seasonality. The company's revenue by end market revealed a decrease in the Industrial and Microfabrication markets, while there was an increase in the Aerospace and Defense market revenue in 2023 compared to 2022. Additionally, the company's revenue by segment showed a decrease in Laser Products revenue and an increase in Advanced Development revenue in 2023.
The geographical revenue information indicated a decrease in North America revenue, China, and Rest of World revenue in 2023 compared to 2022. The company's cost of revenues and gross margin were also detailed, with a noticeable decline in gross margin for the year ended December 31, 2023, compared to the same period in 2022.
