nLIGHT, Inc. Announces Fourth Quarter and Full Year 2023 Results
- nLIGHT, Inc. demonstrates a 34% year-over-year increase in backlog for Q4 2023.
- The company's full-year 2023 financial results reflect a 13.3% decrease in revenues compared to 2022.
- nLIGHT's gross margin increased to 22.0% for 2023, up from 21.0% in 2022.
- Adjusted EBITDA for full year 2023 improved to $(4.1) million, showing a 53.2% increase from 2022.
- For Q4 2023, nLIGHT reported a 8.4% decrease in revenues compared to Q4 2022.
- The company's outlook for Q1 2024 includes expected revenues in the range of $42 million to $46 million.
- nLIGHT's Adjusted EBITDA for Q1 2024 is projected to be in the range of ($7) million to ($5) million.
- The company experienced a net loss of $41.7 million for full year 2023, compared to $54.6 million in 2022.
- nLIGHT's gross margin for Q4 2023 was 18.9%, which is lower than the full-year gross margin of 22.0%.
- Operating margin for full year 2023 was (22.3)%, showing a slight improvement from (22.8)% in 2022.
Insights
The reported revenues and financial results of nLIGHT, Inc. indicate several key trends and performance metrics that are of interest to current and potential investors. Despite a year-over-year decrease in revenues by 13.3%, the company has reported an improvement in gross margins and a reduction in net loss, both on a GAAP and non-GAAP basis. The increase in gross margin from 21.0% to 22.0% and the reduction in net loss from $54.6 million to $41.7 million suggest efficiency improvements and cost management strategies may be taking effect.
Furthermore, the company's outlook for the first quarter of 2024, with expected revenues between $42 million to $46 million and a gross margin of 15% to 20%, provides investors with a forecast to gauge future performance. However, the anticipated lower gross margin in the first quarter compared to the full year of 2023 could raise questions about the sustainability of the margin improvements and whether they can be maintained in a challenging economic environment.
From a financial perspective, the operational improvements and the increase in cash and cash equivalents to approximately $113 million are positive signs for nLIGHT's liquidity and its ability to fund ongoing operations. The 34% year-over-year increase in backlog is also a significant indicator of future revenue potential, as it implies a strong order book and sustained demand for the company's products.
The company's strategic initiatives, such as securing directed energy contracts and new commercial design wins, are likely to be key drivers of long-term profitable growth. However, investors should closely monitor how these initiatives translate into financial performance, especially considering the current revenue decline.
It is important to note the use of non-GAAP financial measures, such as Adjusted EBITDA and non-GAAP net loss, which are intended to provide additional insight into the company's performance. These measures exclude certain expenses that are typically included in GAAP financials, such as stock-based compensation and acquisition-related costs. While non-GAAP measures can be useful for understanding core operational results, investors should consider the potential impact of these excluded items and evaluate both GAAP and non-GAAP results to get a comprehensive understanding of the company's financial health.
Additionally, the company's safe harbor statement regarding forward-looking projections, such as revenue and gross margin guidance, highlights the inherent uncertainties in such predictions. Market conditions, competitive factors and other external events could significantly affect actual results.
Revenues of
Revenues of
“Driven by strong execution in aerospace & defense, fourth quarter revenue of
Mr. Keeney continued, “2023 was a transformative year for nLIGHT. We were awarded multiple large directed energy contracts, secured new commercial design wins, substantially completed the transition of our manufacturing base, and prudently managed operating expenses and working capital.”
“Our full year 2023 financial results reflect the operational improvements we implemented during the year. Products gross margins increased 250 basis points year-over-year on lower revenue levels, and we increased cash, cash equivalents and investments by approximately
Full Year 2023 Financial Highlights
|
Year Ended December 31, |
|
|
|||||||
(In thousands, except percentages) |
|
2023 |
|
|
|
2022 |
|
|
% Change |
|
Revenues |
$ |
209,921 |
|
|
$ |
242,058 |
|
|
(13.3 |
)% |
Gross margin |
|
22.0 |
% |
|
|
21.0 |
% |
|
|
|
Loss from operations |
$ |
(46,766 |
) |
|
$ |
(55,102 |
) |
|
15.1 |
% |
Operating margin |
|
(22.3 |
)% |
|
|
(22.8 |
)% |
|
|
|
Net loss |
$ |
(41,670 |
) |
|
$ |
(54,579 |
) |
|
23.7 |
% |
Adjusted EBITDA(1) |
$ |
(4,093 |
) |
|
$ |
(8,754 |
) |
|
53.2 |
% |
Adjusted EBITDA, as a percentage of revenues |
|
(1.9 |
)% |
|
|
(3.6 |
)% |
|
|
|
(1) A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release. |
||||||||||
Revenues of
Fourth Quarter 2023 Financial Highlights
|
Three Months Ended
|
|
|
|||||||
(In thousands, except percentages) |
|
2023 |
|
|
|
2022 |
|
|
% Change |
|
Revenues |
$ |
51,892 |
|
|
$ |
56,679 |
|
|
(8.4 |
)% |
Gross margin |
|
18.9 |
% |
|
|
10.2 |
% |
|
|
|
Loss from operations |
$ |
(14,342 |
) |
|
$ |
(23,495 |
) |
|
39.0 |
% |
Operating margin |
|
(27.6 |
)% |
|
|
(41.5 |
)% |
|
|
|
Net loss |
$ |
(13,238 |
) |
|
$ |
(22,659 |
) |
|
41.6 |
% |
Adjusted EBITDA(1) |
$ |
(3,297 |
) |
|
$ |
(9,502 |
) |
|
65.3 |
% |
Adjusted EBITDA, as a percentage of revenues |
|
(6.4 |
)% |
|
|
(16.8 |
)% |
|
|
|
(1) A reconciliation of the non-GAAP information provided here to the most directly comparable GAAP metric has been provided in the financial statement tables included in this release. |
||||||||||
Revenues of
Outlook
For the first quarter of 2024, nLIGHT expects revenues to be in the range of
We have not reconciled our outlook for Adjusted EBITDA because unrealized and realized foreign exchange gains and losses cannot be reasonably calculated or predicted nor can the probable significance be determined at this time. Accordingly, a reconciliation is not available without unreasonable effort.
Investor Conference Call at 2:00 p.m. Pacific Time, Thursday, February 22, 2024
Parties interested in listening to nLIGHT’s quarterly conference call may do so by dialing 1-844-282-4705 (
Use of Non-GAAP Financial Results
In addition to
We define Adjusted EBITDA as net income (loss) adjusted for income tax expense (benefit), other non-operating income or expense, interest income or expense, depreciation and amortization, stock-based compensation, acquisition and integration-related costs, and other non-recurring items as determined by management, as applicable. We define non-GAAP net income (loss) as GAAP net income (loss) adjusted for stock-based compensation, amortization of purchased intangibles, acquisition and integration-related costs, and other non-recurring items as determined by management, as applicable. We define non-GAAP net income (loss) per share, basic and diluted, as non-GAAP net income (loss) divided by the weighted-average number of shares outstanding during the respective period plus the dilutive effect of any common stock equivalents during the period in the case of non-GAAP net income (loss) per share, diluted.
Tables presenting the reconciliation of net loss to Adjusted EBITDA, as well as the reconciliation of GAAP to non-GAAP net income (loss) and GAAP to non-GAAP net income (loss) per share, basic and diluted, are included at the end of this press release.
Safe Harbor Statement
Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Words such as “outlook,” “guidance,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions may identify these forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding expected revenues, gross margin, and Adjusted EBITDA, and our business strategy and ability to profitably grow our business, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements, including but not limited to our ability to compete successfully in the markets for our products; changes in the markets we serve or in the global economy; our ability to increase our volumes and decrease our costs to offset potential declines in the average selling prices of our products; rapid technological changes in the markets that we participate in; our ability to develop and maintain products that can achieve market acceptance; our ability to generate sufficient revenues to achieve or maintain profitability in the future; our high levels of fixed costs and inventory and their effect on our gross profits and results of operations if demand for our products declines or we maintain excess inventory levels; our ability to manage growth and spending during economic downturns; our manufacturing capacity and operations and their suitability for future levels of demand; our reliance on third parties to manufacture certain of our products and product components; our reliance on a small number of customers for a significant portion of our revenues; our ability to manage risks associated with international customers and operations; the effect of government export and import controls on our ability to compete in international markets; our ability to protect our proprietary technology and intellectual property rights; fluctuations in our quarterly results of operations and other operating measures; and the effect on our business of claims, lawsuits, government investigations, other legal or regulatory proceedings, or commercial or contractual disputes that we are or may become involved in. Additional information concerning these and other factors can be found in nLIGHT's filings with the Securities and Exchange Commission (the “SEC”), including other risks, relevant factors and uncertainties identified in the “Risk Factors” section of nLIGHT's most recent Annual Report on Form 10-K or subsequent filings with the SEC. nLIGHT undertakes no obligation to update publicly or revise any forward-looking statements contained herein to reflect future events or developments, except as required by law.
The nLIGHT logo and “nLIGHT” are registered trademarks or trademarks of nLIGHT, Inc. in various jurisdictions.
About nLIGHT
nLIGHT, Inc. is a leading provider of high-power semiconductor and fiber lasers for industrial, microfabrication, aerospace and defense applications. Our lasers are changing not only the way things are made but also the things that can be made. Headquartered in
nLIGHT, Inc. |
|||||||||||||||
Consolidated Statements of Operations |
|||||||||||||||
(In thousands, except per share data) |
|||||||||||||||
(Unaudited) |
|||||||||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Revenue: |
|
|
|
|
|
|
|
||||||||
Products |
$ |
37,864 |
|
|
$ |
45,375 |
|
|
$ |
156,666 |
|
|
$ |
192,658 |
|
Development |
|
14,028 |
|
|
|
11,304 |
|
|
|
53,255 |
|
|
|
49,400 |
|
Total revenue |
|
51,892 |
|
|
|
56,679 |
|
|
|
209,921 |
|
|
|
242,058 |
|
Cost of revenue: |
|
|
|
|
|
|
|
||||||||
Products |
|
29,368 |
|
|
|
40,471 |
|
|
|
114,181 |
|
|
|
145,272 |
|
Development |
|
12,720 |
|
|
|
10,425 |
|
|
|
49,627 |
|
|
|
45,965 |
|
Total cost of revenue(1) |
|
42,088 |
|
|
|
50,896 |
|
|
|
163,808 |
|
|
|
191,237 |
|
Gross profit |
|
9,804 |
|
|
|
5,783 |
|
|
|
46,113 |
|
|
|
50,821 |
|
Operating expenses: |
|
|
|
|
|
|
|
||||||||
Research and development(1) |
|
12,114 |
|
|
|
13,558 |
|
|
|
46,163 |
|
|
|
53,773 |
|
Sales, general, and administrative(1) |
|
11,215 |
|
|
|
11,828 |
|
|
|
45,899 |
|
|
|
48,258 |
|
Restructuring |
|
817 |
|
|
|
3,892 |
|
|
|
817 |
|
|
|
3,892 |
|
Total operating expenses |
|
24,146 |
|
|
|
29,278 |
|
|
|
92,879 |
|
|
|
105,923 |
|
Loss from operations |
|
(14,342 |
) |
|
|
(23,495 |
) |
|
|
(46,766 |
) |
|
|
(55,102 |
) |
Other income (expense): |
|
|
|
|
|
|
|
||||||||
Interest income (expense), net |
|
352 |
|
|
|
291 |
|
|
|
1,342 |
|
|
|
529 |
|
Other income, net |
|
779 |
|
|
|
446 |
|
|
|
2,776 |
|
|
|
338 |
|
Loss before income taxes |
|
(13,211 |
) |
|
|
(22,758 |
) |
|
|
(42,648 |
) |
|
|
(54,235 |
) |
Income tax expense (benefit) |
|
27 |
|
|
|
(99 |
) |
|
|
(978 |
) |
|
|
344 |
|
Net loss |
$ |
(13,238 |
) |
|
$ |
(22,659 |
) |
|
$ |
(41,670 |
) |
|
$ |
(54,579 |
) |
Net loss per share, basic |
$ |
(0.28 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.90 |
) |
|
$ |
(1.23 |
) |
Net loss per share, diluted |
$ |
(0.28 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.90 |
) |
|
$ |
(1.23 |
) |
Shares used in per share calculations: |
|
|
|
|
|
|
|
||||||||
Basic |
|
46,735 |
|
|
|
45,039 |
|
|
|
46,078 |
|
|
|
44,436 |
|
Diluted |
|
46,735 |
|
|
|
45,039 |
|
|
|
46,078 |
|
|
|
44,436 |
|
(1)Includes stock-based compensation as follows: |
|||||||||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Cost of revenues |
$ |
535 |
|
$ |
572 |
|
$ |
2,406 |
|
$ |
2,677 |
||||
Research and development |
|
2,329 |
|
|
|
2,267 |
|
|
|
9,866 |
|
|
|
11,675 |
|
Sales, general, and administrative |
|
3,323 |
|
|
|
3,190 |
|
|
|
13,560 |
|
|
|
12,405 |
|
|
$ |
6,187 |
|
|
$ |
6,029 |
|
|
$ |
25,832 |
|
|
$ |
26,757 |
|
nLIGHT, Inc. |
|||||||
Condensed Consolidated Balance Sheets |
|||||||
(In thousands) |
|||||||
(Unaudited) |
|||||||
|
As of |
||||||
|
December 31,
|
|
December 31,
|
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
53,210 |
|
|
$ |
57,826 |
|
Marketable Securities |
|
59,672 |
|
|
|
50,391 |
|
Accounts receivable, net |
|
39,585 |
|
|
|
37,913 |
|
Inventory |
|
52,160 |
|
|
|
67,600 |
|
Prepaid expenses and other current assets |
|
15,927 |
|
|
|
17,026 |
|
Total current assets |
|
220,554 |
|
|
|
230,756 |
|
Restricted cash |
|
256 |
|
|
|
252 |
|
Lease right-of-use assets |
|
12,616 |
|
|
|
13,893 |
|
Property, plant and equipment, net |
|
52,300 |
|
|
|
60,693 |
|
Intangible assets, net |
|
1,652 |
|
|
|
4,041 |
|
Goodwill |
|
12,399 |
|
|
|
12,376 |
|
Other assets, net |
|
7,026 |
|
|
|
7,222 |
|
Total assets |
$ |
306,803 |
|
|
$ |
329,233 |
|
|
|
|
|
||||
Liabilities and Stockholders’ Equity |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
12,166 |
|
|
$ |
17,507 |
|
Accrued liabilities |
|
12,556 |
|
|
|
12,820 |
|
Deferred revenue |
|
4,849 |
|
|
|
1,407 |
|
Current portion of lease liabilities |
|
3,181 |
|
|
|
2,758 |
|
Total current liabilities |
|
32,752 |
|
|
|
34,492 |
|
Non-current income taxes payable |
|
5,391 |
|
|
|
6,699 |
|
Long-term lease liabilities |
|
10,978 |
|
|
|
12,852 |
|
Other long-term liabilities |
|
3,263 |
|
|
|
4,345 |
|
Total liabilities |
|
52,384 |
|
|
|
58,388 |
|
Stockholders' equity: |
|
|
|
||||
Common stock - par value |
|
16 |
|
|
|
16 |
|
Additional paid-in capital |
|
521,184 |
|
|
|
496,211 |
|
Accumulated other comprehensive loss |
|
(2,477 |
) |
|
|
(2,748 |
) |
Accumulated deficit |
|
(264,304 |
) |
|
|
(222,634 |
) |
Total stockholders’ equity |
|
254,419 |
|
|
|
270,845 |
|
Total liabilities and stockholders’ equity |
$ |
306,803 |
|
|
$ |
329,233 |
|
nLIGHT, Inc. |
|||||||
Consolidated Statements of Cash Flows |
|||||||
(In thousands) |
|||||||
(Unaudited) |
|||||||
|
Year Ended December 31, |
||||||
|
|
2023 |
|
|
|
2022 |
|
Cash flows from operating activities: |
|
|
|
||||
Net loss |
$ |
(41,670 |
) |
|
$ |
(54,579 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
||||
Depreciation |
|
12,401 |
|
|
|
11,085 |
|
Amortization |
|
3,629 |
|
|
|
4,614 |
|
Reduction in carrying amount of right-of-use assets |
|
1,269 |
|
|
|
3,000 |
|
Provision for losses on accounts receivable |
|
27 |
|
|
|
4 |
|
Stock-based compensation |
|
25,832 |
|
|
|
26,757 |
|
Deferred income taxes |
|
7 |
|
|
|
4 |
|
Loss on disposal of assets |
|
542 |
|
|
|
51 |
|
Non-cash restructuring charges |
|
— |
|
|
|
2,758 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable, net |
|
(1,677 |
) |
|
|
2,757 |
|
Inventory |
|
14,890 |
|
|
|
4,623 |
|
Prepaid expenses and other current assets |
|
1,109 |
|
|
|
(1,753 |
) |
Other assets, net |
|
(1,156 |
) |
|
|
(5,219 |
) |
Accounts payable |
|
(4,503 |
) |
|
|
(5,904 |
) |
Accrued and other long-term liabilities |
|
(1,336 |
) |
|
|
(577 |
) |
Deferred revenues |
|
3,432 |
|
|
|
(208 |
) |
Lease liabilities |
|
(1,449 |
) |
|
|
(1,942 |
) |
Non-current income taxes payable |
|
(1,256 |
) |
|
|
(13 |
) |
Net cash provided by (used in) operating activities |
|
10,091 |
|
|
|
(14,542 |
) |
Cash flows from investing activities: |
|
|
|
||||
Acquisition of business, net of cash acquired |
|
— |
|
|
|
(664 |
) |
Purchases of property, plant and equipment |
|
(5,339 |
) |
|
|
(21,388 |
) |
Acquisition of intangible assets and capitalization of patents |
|
— |
|
|
|
(332 |
) |
Purchase of marketable securities |
|
(127,907 |
) |
|
|
(99,985 |
) |
Proceeds from maturities and sales of marketable securities |
|
119,146 |
|
|
|
49,988 |
|
Net cash used in investing activities |
|
(14,100 |
) |
|
|
(72,381 |
) |
Cash flows from financing activities: |
|
|
|
||||
Proceeds from employee stock plan purchases |
|
2,469 |
|
|
|
2,358 |
|
Proceeds from stock option exercises |
|
640 |
|
|
|
1,197 |
|
Tax payments related to stock award issuances |
|
(3,968 |
) |
|
|
(4,861 |
) |
Net cash used in financing activities |
|
(859 |
) |
|
|
(1,306 |
) |
Effect of exchange rate changes on cash |
|
256 |
|
|
|
(477 |
) |
Net decrease in cash, cash equivalents and restricted cash |
|
(4,612 |
) |
|
|
(88,706 |
) |
Cash, cash equivalents and restricted cash, beginning of period |
|
58,078 |
|
|
|
146,784 |
|
Cash, cash equivalents and restricted cash, end of period |
$ |
53,466 |
|
|
$ |
58,078 |
|
Supplemental disclosures: |
|
|
|
||||
Cash paid for interest, net |
$ |
40 |
|
|
$ |
— |
|
Cash paid for income taxes |
|
256 |
|
|
|
442 |
|
Operating cash outflows from operating leases |
|
3,850 |
|
|
|
3,925 |
|
Right-of-use assets obtained in exchange for lease liabilities |
|
1,716 |
|
|
|
1,349 |
|
Accrued purchases of property, equipment and patents |
|
745 |
|
|
|
207 |
|
nLIGHT, Inc. |
|||||||||||||||
Reconciliation of GAAP Financial Metrics to Non-GAAP |
|||||||||||||||
(In thousands, except per share data) |
|||||||||||||||
(Unaudited) |
|||||||||||||||
|
|||||||||||||||
Reconciliation of Net Loss to Adjusted EBITDA |
|||||||||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Net loss |
$ |
(13,238 |
) |
|
$ |
(22,659 |
) |
|
$ |
(41,670 |
) |
|
$ |
(54,579 |
) |
Income tax expense (benefit) |
|
27 |
|
|
|
(99 |
) |
|
|
(978 |
) |
|
|
344 |
|
Other income, net |
|
(779 |
) |
|
|
(446 |
) |
|
|
(2,776 |
) |
|
|
(338 |
) |
Interest income, net |
|
(352 |
) |
|
|
(291 |
) |
|
|
(1,342 |
) |
|
|
(529 |
) |
Depreciation and amortization |
|
4,041 |
|
|
|
4,072 |
|
|
|
16,024 |
|
|
|
15,699 |
|
Stock-based compensation |
|
6,187 |
|
|
|
6,029 |
|
|
|
25,832 |
|
|
|
26,757 |
|
Restructuring charges |
|
817 |
|
|
|
3,892 |
|
|
|
817 |
|
|
|
3,892 |
|
Adjusted EBITDA |
$ |
(3,297 |
) |
|
$ |
(9,502 |
) |
|
$ |
(4,093 |
) |
|
$ |
(8,754 |
) |
Reconciliation of GAAP to Non-GAAP Net Loss, and GAAP to Non-GAAP Net Loss per Share, Basic and Diluted |
|||||||||||||||
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Net loss |
$ |
(13,238 |
) |
|
$ |
(22,659 |
) |
|
$ |
(41,670 |
) |
|
$ |
(54,579 |
) |
Add back: |
|
|
|
|
|
|
|
||||||||
Stock-based compensation(1) |
|
6,187 |
|
|
|
6,029 |
|
|
|
25,832 |
|
|
|
26,757 |
|
Amortization of purchased intangibles(1) |
|
264 |
|
|
|
435 |
|
|
|
1,415 |
|
|
|
1,674 |
|
Restructuring charges |
|
817 |
|
|
|
3,892 |
|
|
|
817 |
|
|
|
3,892 |
|
Non-GAAP net loss |
|
(5,970 |
) |
|
|
(12,303 |
) |
|
|
(13,606 |
) |
|
|
(22,256 |
) |
|
|
|
|
|
|
|
|
||||||||
GAAP weighted-average shares outstanding |
|
46,735 |
|
|
|
45,039 |
|
|
|
46,078 |
|
|
|
44,436 |
|
Participating securities |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Non-GAAP weighted-average number of shares, basic |
|
46,735 |
|
|
|
45,039 |
|
|
|
46,078 |
|
|
|
44,436 |
|
Dilutive effect of common stock equivalents |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Non-GAAP weighted-average number of shares, diluted |
|
46,735 |
|
|
|
45,039 |
|
|
|
46,078 |
|
|
|
44,436 |
|
|
|
|
|
|
|
|
|
||||||||
Non-GAAP net loss per share, basic |
$ |
(0.13 |
) |
|
$ |
(0.27 |
) |
|
$ |
(0.30 |
) |
|
$ |
(0.50 |
) |
Non-GAAP net loss per share, diluted |
$ |
(0.13 |
) |
|
$ |
(0.27 |
) |
|
$ |
(0.30 |
) |
|
$ |
(0.50 |
) |
(1) There is no income tax effect related to the stock-based compensation and amortization of purchased intangibles adjustments due to the full valuation allowance in |
|||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222989894/en/
Joseph Corso
Chief Financial Officer
nLIGHT, Inc.
(360) 566-4460
joe.corso@nlight.net
Source: nLIGHT, Inc.
FAQ
What were nLIGHT's revenues for full year 2023?
How did nLIGHT's gross margin change from 2022 to 2023?
What was the net loss for nLIGHT in full year 2023?
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