Filing Flows › Nlight (LASR) › Q4 2025
Nlight (LASR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Nlight (LASR) reported revenue of $81.2M for the fourth quarter 2025 (Q4 2025), +71% from a year earlier and +22% from the quarter before. Operating margin was -6.7%, net loss $4.9M (6.0% of revenue).
Nlight, Q4 2025: revenue $81.2M (+71% year over year), operating margin -6.7%, net loss $4.9M, operating cash flow $17.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $81.2M | +22% | +71% |
| Operating profit | −$5.4M | — | — |
| Net earnings | −$4.9M | — | — |
| Operating cash flow | $17.5M | +236% | — |
| Free cash flow | $15.9M | +551% | — |
What changed
Revenue was $81.2M in Q4 2025, up 71% year over year and up 22% from the previous quarter. Aerospace and Defense was the largest line at 69% of revenue.
Gross margin was 30.7%, up 28.4 points from a year earlier. Operating costs exceeded revenue by $5.4M, an operating margin of -6.7%. Operating expenses grew 10% against revenue growth of 71%. The fastest-growing cost line was SG&A (+32%). The quarter ended with a net loss of $4.9M, narrower than the previous quarter's $6.9M loss.
Operating cash flow was $17.5M. Non-cash charges added back $3.6M of depreciation and amortization and $11.6M of share-based compensation. Working capital and other items added $7.2M. Capital expenditures of $1.6M left free cash flow of $15.9M.
Questions
What was Nlight's revenue in the fourth quarter 2025?
Nlight (LASR) reported revenue of $81.2M for the fourth quarter 2025 (Q4 2025), +71% from a year earlier and +22% from the quarter before.
Was Nlight profitable in the fourth quarter 2025?
Operating loss was $5.4M (-6.7% of revenue) and net loss $4.9M.
Source: Nlight 10-K on SEC EDGAR.