nLIGHT, Inc. Announces First Quarter 2021 Results

Rhea-AI Summary

nLIGHT, Inc. (Nasdaq: LASR) reported record revenue of $61.3 million in Q1 2021, a 42% increase year-over-year. This growth was fueled by heightened demand from customers outside China and solid performance in the aerospace and defense sectors. The company achieved gross margins of 28.8% and ended the quarter with $186 million in net cash, positioning it favorably for future growth. However, nLIGHT recorded a net loss of $5.8 million, slightly improving from a $6.7 million loss in the same quarter last year.

Positive

• Record Q1 2021 revenue of $61.3 million, up 42% year-over-year.
• Strong customer demand outside of China and growth in aerospace and defense sectors.
• Gross margins increased to 28.8%, showing improved profitability.
• Net cash position of approximately $186 million, enhancing financial flexibility.

Negative

• Net loss of $5.8 million, despite an improvement from the previous year's loss of $6.7 million.
• Operating margin at (9.4%), indicating continued operational challenges.

nLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the first quarter of 2021.

“We delivered record first quarter revenue, which was driven by year-over-year growth in each of our end markets,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “Led by stronger demand from customers outside of China and continued execution in our A&D business, our overall revenue increased by 42% year-over-year.”

“Growth from strategic customers and disciplined spending enabled us to generate gross margins and Adjusted EBITDA at the high end of our Q1 guidance. We ended the quarter with approximately $186 million of net cash, which provides us with greater flexibility to achieve our long-term growth objectives.”

First Quarter 2021 Financial Highlights
		Three Months Ended March 31,
(In thousands, except percentages)		2021				2020				% Change
Revenues		$	61,345			$	43,215			42.0	%
Gross margin			28.8	%			22.0	%
Loss from operations		$	(5,779	)		$	(6,737	)		14.2	%
Operating margin			(9.4	)%			(15.6	)%
Net loss

FAQ

What were nLIGHT's Q1 2021 revenues?

nLIGHT reported revenues of $61.3 million for Q1 2021.

How much did nLIGHT's revenue increase year-over-year?

nLIGHT's revenue increased by 42% year-over-year in Q1 2021.

What is nLIGHT's net cash position for Q1 2021?

nLIGHT ended Q1 2021 with approximately $186 million in net cash.

What was nLIGHT's net loss for Q1 2021?

nLIGHT reported a net loss of $5.8 million for Q1 2021.

What were the gross margins for nLIGHT in Q1 2021?

nLIGHT achieved gross margins of 28.8% in Q1 2021.