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Thursday, February 29, 2024
Feb. 29, 2024

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nLIGHT Inc. reports quarterly loss, $171M federal HELSI contract

By , Columbian staff writer

Semiconductor and fiber laser manufacturer nLIGHT Inc. reported another quarterly net loss in its latest earnings report Thursday.

The Camas-based company lost $11.9 million, 26 cents per diluted share, in its third quarter of 2023, an improvement from its $13 million loss in the third quarter of 2022. The quarter ended Sept. 30.

nLIGHT has experienced a net loss for several quarters since early 2022. But the company’s sales for the third quarter came in about as expected. The company brought in $50.6 million in revenue, a more than 15 percent decrease compared with $60.1 million in the third quarter of 2022.

The U.S. Department of Defense did expand its High Energy Laser Scaling Initiative contract with nLIGHT to $171 million. The company, which announced the contract expansion Thursday, will develop a 1 megawatt directed energy laser prototype for the government program.

nLIGHT’s executives expect revenues next quarter between $45 million and $50 million.

nLIGHT trades on the Nasdaq as LASR. Its stock closed at $8.67 per share Thursday, up from $8.33 per share Wednesday.