Filing Flows › IPG Photonics (IPGP) › Q3 2026 › vs Q3 2025
IPG Photonics (IPGP) Q3 2026 vs Q3 2025 (year over year)
IPG Photonics's revenue rose $36.7M (+15%) from $251M in Q3 2025 to $288M in Q3 2026. The biggest changes: Lasers and Components +$23.9M (+12%); Systems +$12.9M (+26%). Gross margin 40.7% against 39.5% (+1.2 pts).
IPG Photonics, Q3 2026: revenue $288M (+15% year over year), operating margin 7.2%, net earnings $20.3M, operating cash flow $46.2M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 40.7% | 39.5% | +1.2 pts |
| Operating margin | 7.2% | 3.1% | +4.1 pts |
| Net margin | 7.1% | 3.0% | +4.1 pts |
| Free cash flow margin | 10.0% | 5.8% | +4.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Lasers and Components | $226M | $202M | $23.9M | +12% |
| Systems | $61.5M | $48.6M | $12.9M | +26% |
| Revenue | $288M | $251M | $36.7M | +15% |
| Gross profit | $117M | $99.0M | $18.0M | +18% |
| Cost of revenue | $170M | $152M | $18.7M | +12% |
| Other income, net | $7.6M | $7.8M | −$161K | -2% |
| Operating profit | $20.8M | $7.9M | $12.9M | +165% |
| Operating expenses | $96.3M | $91.2M | $5.1M | +6% |
| Pre-tax earnings | $28.4M | $15.7M | $12.8M | +82% |
| Research & development | $31.3M | $30.4M | $977K | +3% |
| Sales & marketing | $23.9M | $23.8M | $163K | +0.7% |
| General & admin | $37.5M | $35.1M | $2.4M | +7% |
| Other operating costs | $3.5M | $1.9M | $1.6M | +82% |
| Net earnings | $20.3M | $7.5M | $12.8M | +172% |
| Income tax | $8.1M | $8.2M | −$49K | -0.6% |
| Depreciation & amortization | $16.0M | $15.6M | $330K | +2% |
| Share-based compensation | $11.0M | $10.7M | $277K | +3% |
| Working capital & other | $1.1M | −$1.5M | $2.5M | — |
| Operating cash flow | $46.2M | $35.3M | $10.9M | +31% |
| Free cash flow (OCF − capex) | $28.8M | $14.6M | $14.2M | +98% |
| Capital expenditures | $17.4M | $20.7M | −$3.3M | -16% |
Questions
How much did IPG Photonics's revenue grow year over year in Q3 2026?
IPG Photonics's revenue rose $36.7M (+15%) from $251M in Q3 2025 to $288M in Q3 2026.
What drove IPG Photonics's revenue change in Q3 2026?
Lasers and Components +$23.9M (+12%); Systems +$12.9M (+26%).