nLIGHT, Inc. (LASR) AI Stock Analysis

nLIGHT, Inc. is a provider of semiconductor and fiber lasers used across industrial manufacturing, microfabrication, and aerospace and defense markets. The company operates through two segments: Laser Products and Advanced Development. Laser Products produces semiconductor lasers, fiber lasers, and components for cutting, welding, drilling, and intricate microfabrication in electronics and medical devices. The Advanced Development segment develops fiber amplifiers, beam combination systems, and control systems for high-energy directed energy systems. Headquartered in Camas, Washington, nLIGHT sells globally through direct sales personnel in the United States, China, South Korea, and Europe, alongside independent distributors in Asia, Europe, and South America.

Revenue contracted consecutively from $270.1M in FY2021 to $242.1M in FY2022, $209.9M in FY2023, and $198.5M in FY2024. Performance rebounded in FY2025 as revenue rose 31.6% to $261.3M, yielding a 5-year revenue CAGR of 3.2% from FY2020 to FY2025. Gross margin expanded to 29.8% in FY2025 from 16.6% in FY2024. For the latest quarter ended June 30, 2026, quarterly revenue grew 33.8% year-over-year, lifting trailing twelve-month revenue to $310.7M. Operating losses persisted across all five fiscal years, with an operating margin of -10.2% and net income of -$23.5M in FY2025, alongside trailing twelve-month EPS of -$0.25.

As of June 30, 2026, nLIGHT held $295.8M in cash and short-term investments against $14.8M of total debt, resulting in a net cash position of $280.9M. The balance sheet reflects a debt-to-equity ratio of 0.03 and a current ratio of 8.17. Shareholders' equity stood at $439.9M out of $517.6M in total assets. In FY2025, the company generated $21.3M in operating cash flow and $12.3M in free cash flow, while capital expenditures were $9.0M. The company's share count increased 31.7% over 5 years.

At $33.67 per share, nLIGHT holds a market cap of $1.94B and an enterprise value of $2.05B. The stock trades at a forward P/E of 61.3x and an EV/revenue of 6.6x, compared to the median of its US-listed Technology peers of 18.8x forward P/E and a price-to-sales of 2.8x (LASR price-to-sales is 6.3x). EV/EBITDA stands at 635.9x versus the peer median of 16.6x. Over the past year, the shares gained 6.2%, trailing the S&P 500 (SPY) return of 16.8%, and sit 41.8% below their 200-day moving average.

Wall Street coverage includes 8 Strong Buy ratings and 1 Buy rating, with 0 Hold or Sell recommendations. The mean price target is $82.12, which represents a 143.9% premium over the last close of $33.67. Consensus estimates project FY2026 revenue of $305.9M and EPS of $0.50, followed by $348.4M in revenue and $0.64 EPS in FY2027. nLIGHT beat EPS estimates in 3 of the last 4 quarters. The next earnings date is November 5, 2026.

This page is an AI-written research summary of nLIGHT, Inc. (LASR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: LASR income statement, LASR balance sheet, LASR key metrics, LASR analyst forecast, LASR chart. See the LASR stock overview for the latest quote and news.