Q2 2024 nLIGHT Inc Earnings Call Transcript
Key Points
- Second-quarter revenue of $50.5 million was at the upper end of guidance and grew 13% compared to the first quarter.
- Aerospace and defense revenue increased 26% sequentially, highlighting strong performance in this segment.
- Gross margins improved to approximately 24%, with product gross margin expanding to 30%, slightly above the top end of guidance.
- The company ended the quarter with $115 million in cash equivalents and investments, with no debt.
- New $25 million contract signed for a long-running missile program, indicating strong demand and long-term customer relationships.
- Total revenue was down 5% compared to the second quarter of 2023.
- Industrial revenue decreased 22% compared to the second quarter of 2023, indicating challenges in this segment.
- Microfabrication revenue decreased 5% sequentially and 16% compared to the second quarter of 2023.
- Adjusted EBITDA for the second quarter was a loss of $1.6 million, indicating ongoing profitability challenges.
- Net loss on a GAAP basis was $11.7 million, or $0.25 per diluted share, compared to a net loss of $8.8 million in the second quarter of 2023.
Good afternoon, and welcome to nLIGHT second-quarter 2024 earnings conference call. (Operator Instructions) Please note, this conference is being recorded.
I would now like to turn the conference over to Joseph Corso, Chief Financial Officer. Please go ahead.
Thank you, and good afternoon, everyone. I'm Joe Corso, nLIGHT's Chief Financial Officer. With me today is Scott Keeney, nLIGHT's Chairman and CEO.
Today's discussion will contain forward-looking statements, including financial projections and plans for our business, some of which are beyond our control, including the risks and uncertainties described from time to time in our SEC filings. Our results may differ materially from those projected on today's call, and we undertake no obligation to update publicly any forward-looking statements, except as required by law.
During the call, we will be discussing certain non-GAAP financial measures. We have provided reconciliations of these non-GAAP financial measures to the most
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
