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Nlight (LASR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Nlight (LASR) Q3 2026 earnings results →
Q3 2026 Revenue up 10% year over year to $73.8M · 10¢ of every $1 of revenue lost · operating margin -12.5%
Nlight made $73.8M in Q3 2026 (+10% Y/Y): Products $48.0M, Development $25.7M. Operating margin -12.5%, net loss $7.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
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What changed this quarter
Revenue was $73.8M in Q3 2026, up 11% year over year and down 11% from the previous quarter. Products was the largest line at 65% of revenue. Development added $6.6M year over year (up 34%), 94% of the total change.
Gross margin was 33.1%, up 2.0 points from Q3 2025. Operating costs exceeded revenue by $9.2M, an operating margin of -12.5%. Operating expenses grew 20% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+331%). The quarter ended with a net loss of $7.2M, wider than the previous quarter's $1.3M loss. Non-operating items added $2.4M, -34% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$13.1M. Non-cash charges added back $2.9M of depreciation and $9.9M of share-based compensation. Working capital and other items used $18.7M. Capital expenditures of $4.4M exceeded it, leaving free cash flow of −$17.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $73.8M | +10% | -12.5% | −$7.2M | −$13.1M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $82.6M | +34% | -4.3% | −$1.3M | $20.7M |
| Q1 2026 | 10-Q | May 8, 2026 | $80.2M | +55% | -0.9% | $645K | $9.7M |
| Q4 2025 | 10-K | Feb 27, 2026 | $81.2M | +71% | -6.7% | −$4.9M | $17.5M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $66.7M | +19% | -10.9% | −$6.9M | $5.2M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $61.7M | +22% | -6.9% | −$3.6M | −$1.4M |
| Q1 2025 | 10-Q | May 9, 2025 | $51.7M | +16% | -18.6% | −$8.1M | −$20K |
Charts
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Customers and suppliers named in filings
Sells to
- U.S. government — 36% of its revenue · Stated in 10-K (customer table) · source
About Nlight
nLIGHT, Inc. is a leading provider of high‑power lasers for mission-critical directed energy, optical sensing, and advanced manufacturing applications. We design, manufacture, and sell a range of high-power semiconductor lasers and fiber lasers that are typically integrated into laser systems or manufacturing tools built by our customers. We also make high energy pulsed fiber lasers, fiber amplifiers, and beam combination and control systems for use in high-energy laser systems for directed energy and laser sensing systems used in a wide range of defense applications. Our vertical integration enables us to develop products that leverage the same underlying technology, thereby enabling us to offer innovative and reliable products to customers in each of our end markets. We sell our products into three primary end markets: Aerospace and Defense, Industrial, and Microfabrication.
In its own words, from its 10-K, filed Feb 27, 2026.
Nlight against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +40%. Operating margin: -12.5% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LASR Nlight | Q3 2026 | $73.8M | +10% | -12.5% |
| 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: Nlight 10-Q on SEC EDGAR · CIK 1124796 · Semiconductors & Related Devices
Guidance and outlook
13F: who owns LASR and who is buying
More on LASR
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results