May 8, 2026, 10:15 PDT—Camas, Washington.
nLIGHT Inc surged 10.3% to $72.98 in late-morning trade Friday, pulling back from a session high of $86.85. The laser manufacturer posted a 55.2% jump in first-quarter revenue and turned a modest profit, with record defense product sales driving the gains.
This shift is significant: aerospace and defense are now fueling most of the company’s momentum, overtaking the legacy commercial laser segments. The numbers tell the story—revenue from aerospace and defense hit $55.1 million, accounting for 68.8% of total sales. According to nLIGHT, that jump came down to more units moving in directed-energy lasers and steady progress on current development contracts. Directed energy, for context, covers weapons that use focused energy like lasers, not traditional munitions.
This comes right as nLIGHT unveils HADES, its new high-energy laser lineup targeting military uses. The first 70-kilowatt-class system is on the market, aimed at countering drones, rockets, artillery, and mortars. “Directed energy is becoming a foundational element” of layered defense, Chief Technology Officer Rob Martinsen said. nLIGHT Investor Relations
Revenue jumped to $80.2 million, up from $51.7 million a year ago. Gross margin moved higher too, hitting 33.1% compared to 26.7% previously. Net income swung to $645,000, or 1 cent per diluted share—last year’s period saw an $8.1 million loss, or 16 cents per share. Adjusted EBITDA logged a sharp increase as well, coming in at $13.8 million versus just $116,000 last year.
Chief Executive Scott Keeney credited “strength in our A&D markets” for the quarter’s results, highlighting a “pipeline of directed energy opportunities”—from follow-on production content to platform upgrades and new prototype programs. Business Wire
Laser Products pulled in $58.2 million in revenue, according to the filing. Advanced Development came in at $22.0 million, with nLIGHT noting that all of that stems from contract R&D work within aerospace and defense. Microfabrication revenue edged up to $13.0 million, and industrial booked $12.0 million.
On the earnings call, Keeney described nLIGHT as “not only as a laser supplier, but also as a system-level partner.” Product margins got a lift from volume and mix, according to Chief Financial Officer Joseph Corso, who added that performance was solid across directed energy, laser sensing, industrial, and microfabrication markets. The Motley Fool
nLIGHT’s cash position looks solid: as of March 31, the company reported $298.2 million in cash and cash equivalents, plus another $34.4 million held in marketable securities. That haul follows a February stock offering, which netted $191.3 million. Management is putting some of that capital to work, earmarking funds for a new 50,000-square-foot manufacturing site in Longmont, Colorado, and aiming to speed up its directed-energy product development.
Competition isn’t letting up. nLIGHT names IPG Photonics, Coherent, and TRUMPF as key rivals in its annual report, noting that these players go toe-to-toe with it in both semiconductor and fiber lasers. The filing also points out a tough reality: some competitors are bigger, with deeper R&D pockets and the scale to push prices down on higher sales volumes.
nLIGHT is projecting second-quarter revenue in the range of $75 million to $81 million, with gross margin guidance coming in between 29% and 33%. Adjusted EBITDA is set for $8 million to $12 million. Those numbers put the revenue midpoint right around where the company landed in the first quarter, but management warns that gross margin could slip from what was seen in March.
Still, the defense buildup isn’t a given. The company cautions that its aerospace and defense segment hinges on ongoing funding from the U.S. and partner nations. Results can swing with shifts in government budgets, export rules, which contracts land, and heavy reliance on a handful of customers. Keeney told analysts the budget process “will take time to work its way through Congress.” SEC
