Cigna earnings beat by $0.04, revenue topped estimates
ORLANDO - Laser Photonics Corporation (NASDAQ:LASE), an industrial developer of CleanTech Laser Systems trading at $2.45 per share, has been notified by the Nasdaq Stock Market of non-compliance with listing rules due to delayed financial filings. The stock has experienced significant volatility, declining nearly 57% over the past six months. InvestingPro analysis indicates the stock is currently fairly valued, with 10+ additional insights available to subscribers. The company received the notice on May 22, 2025, after failing to file its Form 10-Q for the first quarter of 2025 and its Form 10-K for the year ended December 31, 2024.
The delay in filing the annual 10-K has subsequently affected the submission of the first quarter 10-Q report. The company attributes the delays to the acquisition of assets from CMS in November 2024 for approximately $1 million, following CMS’s parent company’s bankruptcy. This transaction occurred close to the end of Laser Photonics’ fiscal year, complicating the audit process. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 5.38 and holds more cash than debt on its balance sheet.
Laser Photonics is actively working with its auditors to resolve the outstanding issues and complete the necessary filings as soon as possible. The audit is focused on two main areas: the historical revenue recognition practices of CMS before the acquisition and the determination of a gain from the valuation of the acquired CMS assets as of December 31, 2024.
Nasdaq has given the company until June 16, 2025, to provide a plan to regain compliance regarding the overdue reports. If necessary, Nasdaq may grant an extension of up to 180 calendar days from the initial filing due date, which would extend the deadline to October 13, 2025.
Laser Photonics specializes in laser systems for applications such as surface cleaning, rust removal, and de-painting, aiming to disrupt traditional sand and abrasives blasting markets. The company’s systems are used by major manufacturers across various industries, including aviation, automotive, and defense. Financial metrics reveal impressive gross profit margins of 55.33%, though the company is not yet profitable. Get comprehensive analysis and 12-month price targets with a InvestingPro subscription, which includes detailed research reports for 1,400+ US stocks.
This news is based on a press release statement from Laser Photonics Corporation. The company has made forward-looking statements regarding its plans and prospects, which involve risks and uncertainties that could cause actual results to differ materially from those anticipated.
In other recent news, Laser Photonics Corporation has secured a $1.5 million loan agreement with Agile Capital Funding and Agile Lending. The loan, detailed in a Form 8-K filing with the SEC, will be repaid in weekly installments and provides the company with additional capital for its operations. Additionally, Laser Photonics’ subsidiary, Control Micro Systems (CMS Laser), has received a significant order from a Fortune 500 home appliance manufacturer for a custom-built laser system designed to enhance manufacturing efficiency. In further developments, Laser Photonics has been notified of noncompliance with Nasdaq’s listing rules due to a delay in filing its annual report, a situation attributed to its recent acquisition of CMS assets. The company is working with auditors to address outstanding issues and aims to regain compliance. Moreover, CMS Laser has secured another major order for a Laser Plastics Marking System from a global manufacturing services provider, emphasizing its role in high-reliability OEM markets. Laser Photonics is also shifting its focus towards vertical integration and targeted acquisitions to strengthen its market position amidst uncertainties. This strategic shift aims to reduce reliance on external suppliers and enhance control over production.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.