In a challenging market environment, nLIGHT Inc (NASDAQ:LASR) stock has recorded a new 52-week low, dipping to $9.79, with a notable beta of 2.2 indicating significant price volatility. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 5.83. The company, known for its high-performance laser solutions, has faced significant headwinds over the past year, reflected in a substantial 1-year change with a decline of -23.75%. This downturn highlights the pressures faced by the tech sector, particularly for companies specializing in industrial, microfabrication, and aerospace markets. With a gross profit margin of 20.53% and revenue of $203 million in the last twelve months, investors are closely monitoring nLIGHT’s strategies for recovery and growth as the company navigates through these turbulent times. InvestingPro subscribers have access to 10 additional key insights and a comprehensive Pro Research Report that could help evaluate the company’s recovery potential.
In other recent news, nLIGHT, Inc. reported a year-over-year revenue increase of 11% in the third quarter of 2024, reaching $56.1 million. This surge was primarily driven by the company’s aerospace and defense segment, which marked a record $30.3 million in revenue. Despite these positive strides, nLIGHT is concurrently addressing challenges in its commercial business and overseeing a transition of manufacturing operations from Shanghai to Thailand and the U.S.
The company’s Q3 gross margins stood at 22.4%, with product gross margins at 28.8%. Furthermore, nLIGHT launched the Corona AFX-2000, a new 2-kilowatt laser for metal additive manufacturing, and ended the quarter with $107 million in cash and no debt. The company’s forecast for Q4 2024 revenue is between $49 million and $54 million.
Notably, the aerospace and defense products are expected to show sequential growth, with a gross margin forecast of 17% to 21%. However, the non-GAAP net loss was $3.7 million, an improvement from the previous year’s loss. As nLIGHT navigates through these recent developments, it continues to focus on its backlog growth driven by orders in directed energy and sensing sectors.
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