Filing Flows › IPG Photonics (IPGP) › Q2 2025
IPG Photonics (IPGP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
IPG Photonics (IPGP) reported revenue of $251M for the second quarter 2025 (Q2 2025), -3% from a year earlier and +10% from the quarter before. Operating margin was 0.0%, net earnings $6.6M (2.6% of revenue).
IPG Photonics, Q2 2025: revenue $251M (-3% year over year), operating margin 0.0%, net earnings $6.6M, operating cash flow −$2.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $251M | +10% | -3% |
| Gross profit | $93.6M | +4% | -3% |
| Operating profit | $104K | -94% | -99% |
| Net earnings | $6.6M | +76% | -67% |
| Operating cash flow | −$2.2M | -116% | — |
What changed
Revenue was $250.7M in Q2 2025, down 3% year over year and up 10% from the previous quarter. High Power Continuous Wave ("CW") Lasers was the largest line at 30% of revenue. High Power Continuous Wave ("CW") Lasers lost $6.1M year over year (down 7%), 88% of the total change.
Gross margin was 37.3%, unchanged from a year earlier. Operating profit was $104K, a 0.0% margin (down 4.6 points year over year). Operating expenses grew 11% against a revenue fall of 3%. The fastest-growing cost line was Other operating costs (+21%). Net earnings were $6.6M, down 67% year over year. The effective tax rate was 20.1%. Non-operating items added $8.2M, 99% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$2.2M. Non-cash charges added back $15.8M of depreciation and amortization and $11.3M of share-based compensation. Working capital and other items used $35.9M. Capital expenditures of $15.4M exceeded it, leaving free cash flow of −$17.6M.
Questions
What was IPG Photonics' revenue in the second quarter 2025?
IPG Photonics (IPGP) reported revenue of $251M for the second quarter 2025 (Q2 2025), -3% from a year earlier and +10% from the quarter before.
Was IPG Photonics profitable in the second quarter 2025?
Operating profit was $104K (0.0% of revenue) and net earnings $6.6M.
Source: IPG Photonics 10-Q on SEC EDGAR.