NLIGHT (LASR) Q4 2025 Earnings
How Did LASR Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −5.20%.
Did LASR Beat Earnings? Q4 2025 Results
Yes. NLIGHT reported Q4 2025 earnings of $0.14 a share on Feb 26, 2026, beating the $0.11 consensus estimate by 27.3%. Revenue was $81.2M against a $76.7M estimate.
nLIGHT delivered a breakout fourth quarter for fiscal 2025, posting record revenue of $81.19 million, a 71.3% year-over-year surge, while non-GAAP EPS of $0.14 per diluted share cleared the $0.11 consensus estimate by nearly 30%, underscoring the company's accelerating defense-driven transformation. The single most compelling force behind the quarter was Aerospace and Defense, where revenue nearly doubled to $56.30 million from $30.13 million a year earlier, pulling GAAP gross margin to 30.7% from a near-breakeven 2.4% in Q4 2024 and swinging adjusted EBITDA to a $10.69 million gain from an $11.30 million loss. The company's unveiling of a new 70kW-class laser weapon system has drawn fresh analyst attention, including an "Outperform" initiation with a $95 price target from one Wall Street firm. Looking ahead, nLIGHT guided Q1 2026 revenue to a $70 million to $76 million range, with adjusted EBITDA of $5 million to $10 million, signaling a seasonal step-down but continued profitability as the defense pipeline matures.
- Strong Aerospace and Defense revenue growth driven by existing program execution and new contract awards
- 71.3% year-over-year Q4 revenue growth
- GAAP gross margin expanded from 2.4% to 30.7% year-over-year in Q4
- Adjusted EBITDA swung from $(11.3) million loss to $10.7 million profit in Q4
- Operating leverage inherent in the business model driving margin expansion
“2025 was an exceptional year for nLIGHT, with strong revenue growth driven by continued strength in our A&D markets as we executed well against existing programs and won new awards that helped drive additional growth.”
NLIGHT CEO, on the earnings call
What Was NLIGHT's Outlook in Q4 2025?
For Q1 2026, nLIGHT expects revenues of $70 million to $76 million (midpoint $73 million), consisting of approximately $54 million in Laser Products revenue and $19 million in Advanced Development revenue. Overall gross margin is expected to be 27%–32%, with Laser Products gross margin of 34%–39% and Advanced Development gross margin of approximately 8%. Adjusted EBITDA is expected to be in the range of $5 million to $10 million.
LASR YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $81.2M | $47.4M | +71.4% |
| Gross Profit | $25.0M | $1.1M | +2,106.4% |
| Operating Income | −$5.4M | −$3.0M | +79.6% |
| Net Income | −$4.9M | −$2.7M | +80.3% |
LASR Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.