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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) announced its participation in the 2024 MINExpo INTERNATIONAL alongside Brokk, a manufacturer of remote-controlled demolition robots. The event, scheduled for September 24-26 in Las Vegas, is the world's largest mining event. LPC will showcase its laser cleaning systems, including the MARLIN LPC-100M-MHD and CleanTech CR-3030, at West Hall Booth #11001.
This collaboration follows a partnership formed earlier this year to equip Brokk's robots with laser cleaning and cutting technology for various industrial applications. The event provides an opportunity for LPC to demonstrate how its laser blasting systems address challenges in the mining industry, offering an eco-friendly and efficient alternative to traditional cleaning methods.
Laser Photonics (NASDAQ:LASE) reported Q2 2024 results, showing a revenue decline to $0.6 million from $1.0 million in Q2 2023. The company experienced a 35.4% decrease in revenue and a 53.7% drop in gross profit. Operating loss widened to $(2.1) million from $(0.7) million year-over-year. Despite the decline, CleanTech products represented over 80% of sales. CEO Wayne Tupuola emphasized focus on market penetration for CleanTech, development of new product lines, and optimization of manufacturing processes. The company introduced new products, including updates to the CleanTech series and the SaberTech line of laser cutting systems. LPC also announced a partnership with Echelon 1 Solutions to bring CleanTech laser systems to Department of Defense customers.
Laser Photonics (NASDAQ: LASE) has appointed Tim Miller to its board of directors, effective August 23, 2024. Miller, the founder of Control Micro Systems (CMS), brings extensive expertise in laser systems for material processing. He will serve as Chairman of LPC's Compensation Committee.
Miller's company, CMS, was a pioneer in software controls for laser machines and designed industrial laser systems for various industries, including pharmaceuticals. Under his leadership, CMS grew to over 55 employees with annual revenues exceeding $10 million, and was sold for over $10 million in 2019.
Wayne Tupuola, CEO of Laser Photonics, expressed confidence that Miller's experience will help the company grow in existing markets and establish a presence in new sectors.
Laser Photonics (NASDAQ:LASE), a CleanTech Laser Systems developer, has received a notice from Nasdaq on August 20, 2024, regarding non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Q2 2024 10-Q. The company has 60 calendar days to submit a compliance plan to Nasdaq. If accepted, Nasdaq may grant an exception of up to 180 calendar days from the original due date, until February 17, 2025, for LASE to regain compliance. This extension applies to any subsequent periodic filings due within the exception period.
Laser Photonics (NASDAQ: LASE) has launched the CleanTech MegaCenter 5010 (CTIR-5010), a semi-automated laser cleaning system for production lines. This Class I industrial fiber laser solution features a work area of up to nine square feet, automatable sliding doors, and can be integrated into production lines or operated standalone. The enclosed design ensures safety from laser radiation and includes a filtration unit for fumes.
Key features include consistency, repeatability, and increased throughput with no consumables or routine part replacements. The system offers custom configurations and incorporates next-gen upgrades such as overheat protection, mobile connectivity, and a compact scan head for quicker setup and precision. CEO Wayne Tupuola emphasized the system's potential to help manufacturing clients maximize throughput and tap into diverse markets.
Laser Photonics (NASDAQ: LASE) has been hosting representatives from leading companies at its Customer Experience Center (CEC) in Orlando, Florida. The 9,000-square-foot facility offers interactive demonstrations of LPC's laser systems for cleaning and material processing applications. Visitors include major players from the automotive, steel, entertainment, aerospace, defense, and construction industries, as well as government agencies.
CEO Wayne Tupuola emphasized that these demonstrations allow clients to understand the capabilities and benefits of LPC's solutions firsthand, streamlining the decision-making process. The CEC showcases the precision, power, and sustainability benefits of LPC's laser systems, catering to a diverse range of industries and applications.
Laser Photonics (NASDAQ: LASE) announces its participation in FABTECH 2024, North America's largest metal forming, fabrication, welding, and finishing event. The exhibition will take place from October 15 to 17 at Orlando's Orange County Convention Center. LPC will showcase its next-generation laser solutions, including the CleanTech Robotic Cell (CTIR-6040), CleanTech MegaCenter (CTIR-5040), and MarkStar 20-MSH-Pro marking solution.
CEO Wayne Tupuola emphasizes the importance of showcasing their innovative laser technologies at FABTECH, which attracts a diverse global audience. The event covers over 800,000 square feet of exhibits, offering a unique opportunity to explore the latest equipment innovations in metal manufacturing.
Laser Photonics (NASDAQ: LASE), a leading developer of industrial laser systems, has closed a $3.0 million private placement with institutional investors. The company issued 1,500,000 units, each consisting of one share of common stock and one common warrant. The warrants are exercisable at $4.34 per share and will expire 5.5 years from issuance. Aegis Capital Corp. acted as the Exclusive Placement Agent. LPC plans to use the net proceeds for working capital and general corporate purposes. The securities are being sold in a private placement exempt from registration requirements and are not registered under the Securities Act of 1933.
Laser Photonics (NASDAQ: LASE), a leading industrial laser systems developer, has announced a $3.0 million private placement with institutional investors. The company will issue 1,500,000 units and pre-funded units, each consisting of one share of common stock (or pre-funded warrant) and one common warrant. The common warrants will be exercisable at $4.34 per share and will expire 5.5 years from issuance. Aegis Capital Corp is acting as the Exclusive Placement Agent. The closing is expected around August 19, 2024. LPC plans to use the net proceeds for working capital and general corporate purposes. The securities are being sold in a private placement exempt from SEC registration requirements.
Laser Photonics (NASDAQ: LASE) has secured an international order for two laser machines from a global oil and gas producer through a foreign distributor. The order includes the CleanTech 100-CTHD, a handheld laser cleaning device, and the MarkStar 20-MSH-Pro, a laser marking system. This sale marks LPC's expansion into the oil and gas market and strengthens its international presence.
The CleanTech 100-CTHD uses laser ablation technology for rust removal, offering a safe and efficient method to maintain critical equipment in the energy sector. The MarkStar 20-MSH-Pro enables precise, permanent marking on various materials, enhancing identification and inventory management processes.
CEO Wayne Tupuola highlighted the significance of this order in demonstrating the versatility of laser-blasting technology across industries. While North America remains LPC's primary market, the company's growing overseas sales indicate expanding brand recognition and potential for attracting a broader customer base globally.
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