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Laser Photonics Corporation (symbol: LASE) is a leading company in the field of photonics-based industrial products and solutions, with a primary focus on innovative laser cleaning technologies. Renowned for disrupting traditional sandblasting and abrasives blasting markets, Laser Photonics offers a comprehensive portfolio of integrated laser-blasting solutions. These high-tech solutions are designed for a variety of applications including corrosion control, rust removal, de-coating, pre-welding and post-welding processes, laser cleaning, and surface conditioning.
Laser Photonics' cutting-edge laser-blasting technologies are applicable across a broad spectrum of industries such as automotive, aerospace, healthcare, consumer products, shipbuilding, machine manufacturing, nuclear maintenance, and surface coating. By leveraging advanced laser technology, the company aims to address the numerous health, safety, environmental, and regulatory challenges associated with conventional methods.
In recent financial highlights, Laser Photonics reported a 10% increase in revenue and a significant reduction in both operating and net losses by 39% and 57% respectively. Despite facing challenges with gross margins due to the sale of lower power systems, the company is focused on refining production processes and improving cost efficiency to enhance profitability. The first quarter of FY24 marked a period of positive momentum, driven by ramped-up sales and marketing efforts.
Laser Photonics has secured numerous customer orders and distribution agreements, reinforcing its position as an industry leader in industrial laser systems. The company’s innovative laser-blasting equipment is widely utilized by Fortune 1000 manufacturers in diverse sectors including aerospace, automotive, defense, energy, industrial, maritime, and space exploration.
For more information, visit the Laser Photonics website.
Laser Photonics (NASDAQ: LASE) has appointed John T. Armstrong as its new Executive Vice President. Armstrong joins from Astronics Test Systems where he served as Vice President, and previously held senior positions at Boeing, managing a division with $4.5B+ in revenue. With over 30 years of leadership experience in B2B strategic planning, operations, and HR, Armstrong brings expertise in developing strategies for business growth and optimizing performance in manufacturing environments. He holds an MBA and MA in Management Systems from Webster University and a B.S. in Mechanical Engineering from Villanova University.
Laser Photonics (NASDAQ: LASE) reported Q3 2024 results showing revenue of $0.8 million, down from $1.3 million in Q3 2023, with a net loss of $1.6 million compared to $0.9 million loss year-over-year. The company secured notable deals with Acuren, U.S. Navy, and expanded into Asia-Pacific through Brokk partnership. The company recently acquired Control Micro Systems (CMS), expanding into healthcare and pharmaceutical industries with over $2 million in unbilled contracted revenue. LPC is developing new products including the Laser Shield Anti-Drone System and Next-Gen CleanTech Robotic Cell.
Laser Photonics (NASDAQ: LASE) reported Q3 2024 results with revenue of $0.8 million, down from $1.3 million in Q3 2023. The company posted a net loss of ($1.6) million, compared to ($0.9) million last year, with loss per share of ($0.13). The quarter was marked by increased investments in HR, Sales, and administrative functions. Notable developments include the acquisition of Control Micro Systems (CMS), which expands their presence in healthcare and pharmaceuticals, and new customer orders from Acuren, U.S. Navy, and expansion into Asia-Pacific through Brokk partnership. The company also showcased new concepts including the Laser Shield Anti-Drone System and Next-Gen CleanTech Robotic Cell.
Laser Photonics (NASDAQ: LASE), a global developer of industrial laser systems, will partner with Fonon Technologies at the Department of Defense Maintenance Symposium 2024 from December 10-13. They will join the National Center for Manufacturing Sciences (NCMS) in their exhibit booth. The symposium, held in Salt Lake City, will host over 2,300 maintenance professionals from military, government, industry, and academia. LPC and Fonon will showcase their DefenseTech laser systems, including the DTMF-1010, DTMF-1030, and DTMR-3040, which are used for industrial cleaning, rust removal, and surface preparation. LPC will also present their comprehensive portfolio of laser systems designed for material processing.
Laser Photonics (NASDAQ: LASE), in partnership with Fonon Technologies, has received an order for its DefenseTech MRLS Finishing laser system (DTMF-1030) through NOBLE, a leader in global sustainment and operations support for U.S. Military and civilian government agencies. This system, purchased by Marine Corps Base Camp Lejeune in North Carolina, signifies LPC's first order through NOBLE, marking the beginning of their partnership.
The DTMF-1030 handheld laser system is designed for maintenance processes, particularly for corrosion control and removal. Its portability and compact size make it ideal for on-site cleaning, offering an eco-friendly alternative to traditional methods. LPC will also supply enclosed Class I laser systems through NOBLE to military, government, and critical infrastructure clients. This partnership expands LPC's distribution network, providing sustainable solutions for surface treatment in various applications.
Laser Photonics (NASDAQ: LASE) has completed the acquisition of Control Micro Systems (CMS) for approximately $1 million, funded through cash from a recent capital raise and stock. CMS, acquired through bankruptcy proceedings, brings $4 million in existing program orders and specializes in laser systems for pharmaceutical applications, particularly in slow-release tablets and counterfeit-proof pill manufacturing. The acquisition strengthens LPC's position in the global laser market and provides entry into the pharmaceutical equipment sector. LPC has retained all CMS employees to ensure business continuity and maintain service for existing customers, which include several top 20 global life sciences companies.
Laser Photonics (NASDAQ: LASE) announced the acquisition of Control Micro Systems (CMS) assets for $1.05 million, consisting of $950,000 in cash and $100,000 in stock. CMS specializes in laser solutions for pharmaceutical drug delivery, particularly in controlled-release tablet production and packaging compliance. The acquisition includes over $2 million in unbilled contracted revenue and brings several top global pharmaceutical manufacturers as customers. According to management, CMS generated more revenue than LPC in 2023 despite being under-invested due to previous financial challenges. LPC plans to leverage its sales and marketing expertise to grow the acquired business in the pharmaceutical sector, which has an 11% CAGR through 2030.
Laser Photonics (NASDAQ: LASE) has signed a definitive agreement to acquire Control Micro Systems (CMS) through an asset purchase agreement. The acquisition aims to expand LPC's presence in the pharmaceutical and medical manufacturing sector, particularly in controlled-release tablet production and packaging compliance. CMS specializes in precision laser solutions for pharmaceutical applications, including laser drilling systems for controlled-release medications and marking systems for traceability. LPC plans to retain all CMS employees and leverage its existing sales and marketing infrastructure to unlock additional value. The acquisition provides entry into a recession-resistant sector with significant barriers to entry.
Laser Photonics (NASDAQ: LASE) and its sister company Fonon Technologies announced their joint participation at the 2024 F-15 TCP Worldwide Review, scheduled for Nov. 18-22, 2024, in Orlando. The companies will showcase their laser cleaning systems at Booth 112, including the DefenseTech MRLS series models DTMF-1010, DTMF-1030, and DTMR-3040. These systems offer eco-friendly solutions for industrial cleaning, rust removal, coating removal, and surface preparation in the defense sector, specifically targeting F-15 platform maintenance and operations.
Laser Photonics (NASDAQ: LASE) announced its participation in the upcoming Fort Lauderdale International Boat Show (FLIBS), the world's largest in-water boat show. The company will showcase its Marine Professional Portable Finishing Laser 1010 (MLPF-1010), designed for maritime and boat manufacturing applications. The event, spanning 90 acres and featuring over 1,000 exhibitors from 52 countries, typically attracts more than 100,000 attendees. The show will take place from October 30 to November 3, 2024, where Laser Photonics will demonstrate its CleanTech laser cleaning solutions for rust removal, paint removal, and surface preparation.
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