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IPG Photonics (IPGP) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · IPG Photonics (IPGP) Q3 2026 earnings results →
Q3 2026 Revenue up 15% year over year to $288M · 7¢ of every $1 of revenue kept as net profit · operating margin 7.2%
IPG Photonics made $288M in Q3 2026 (+15% Y/Y): Lasers and Components $226M, Systems $61.5M. Operating margin 7.2%, net earnings $20.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $287.5M in Q3 2026, up 15% year over year and up 3% from the previous quarter. Lasers and Components was the largest line at 79% of revenue. Lasers and Components added $23.9M year over year (up 12%), 65% of the total change.
Gross margin was 40.7%, up 1.2 points from Q3 2025. Operating profit was $20.8M, a 7.2% margin (up 4.1 points year over year). Of the extra revenue versus Q3 2025, 35% reached operating profit, above the 3% margin then. Operating expenses grew 6% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+82%). Net earnings were $20.3M, up 172% year over year. The effective tax rate was 28.7%. Non-operating items added $7.6M, 27% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $46.2M (up 31% year over year), 228% of net earnings. Non-cash charges added back $16.0M of depreciation and amortization and $11.0M of share-based compensation. Capital expenditures of $17.4M left free cash flow of $28.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $288M | +15% | 7.2% | $20.3M | $46.2M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $279M | +11% | 1.6% | $5.2M | $37.8M |
| Q1 2026 | 10-Q | May 5, 2026 | $265M | +17% | -2.9% | $1.6M | −$5.5M |
| Q4 2025 | 10-K | Feb 23, 2026 | $274M | +17% | 1.2% | $13.3M | $28.8M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $251M | +8% | 3.1% | $7.5M | $35.3M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $251M | -3% | 0.0% | $6.6M | −$2.2M |
| Q1 2025 | 10-Q | May 6, 2025 | $228M | -10% | 0.8% | $3.8M | $13.4M |
Charts
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About IPG Photonics
IPG Photonics Corporation ("IPG", the "Company", the "Registrant", "we", "us" or "our") develops, manufactures and sells high-performance fiber lasers, fiber amplifiers, diode lasers and laser-based systems that are used for diverse applications in materials processing, medical and advanced applications. Fiber lasers combine the advantages of semiconductor diodes, such as long life and high efficiency, with the high amplification and precise beam qualities of specialty optical fibers to deliver superior performance, reliability and usability.
In its own words, from its 10-K, filed Feb 23, 2026.
IPG Photonics against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +15% against the peers' median +40%. Operating margin: 7.2% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| IPGP IPG Photonics | Q3 2026 | $288M | +15% | 7.2% |
| NVDA NVIDIA | Q2 FY27 | $96.2B | +106% | 66.2% |
| MU Micron Technology | Q4 FY26 | $54.2B | +379% | 80.7% |
| AVGO Broadcom | Q3 FY26 | $29.6B | +86% | 53.9% |
| INTC Intel | Q3 2026 | $16.5B | +21% | 15.3% |
| AMD Advanced Micro Devices | Q3 2026 | $13.4B | +45% | 21.2% |
| AMAT Applied Materials | Q3 FY26 | $9.1B | +25% | 33.7% |
| TXN Texas Instruments | Q3 2026 | $6.1B | +28% | 47.5% |
| ADI Analog Devices | Q3 FY26 | $4.0B | +40% | 40.1% |
Source: IPG Photonics 10-Q on SEC EDGAR · CIK 1111928 · Semiconductors & Related Devices
Guidance and outlook
13F: who owns IPGP and who is buying
More on IPGP
- How IPG Photonics makes money: revenue by segment
- IPG Photonics next earnings date and what analysts expect
- IPG Photonics stock forecast, price target and fair value
- Who owns IPG Photonics stock: holders, funds and Congress trades
- IPG Photonics guidance and outlook
- Is IPG Photonics a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- IPG Photonics guidance history: guided vs reported
- IPG Photonics gross margin by quarter
- IPG Photonics operating margin by quarter
- IPG Photonics net income by quarter
- IPG Photonics free cash flow by quarter
- IPG Photonics R&D spending by quarter
- IPG Photonics capital expenditures by quarter
- IPG Photonics Lasers and Components revenue by quarter
- IPG Photonics Systems revenue by quarter