nLIGHT, Inc. reported its financial results for the fourth quarter and full year 2024 on February 27, 2025. Full year 2024 revenues were $198.5 million, a 5.4% decrease from $209.9 million in 2023, while Q4 2024 revenues were $47.4 million, down 8.7% from $51.9 million in Q4 2023.
The company's full year 2024 GAAP net loss widened to $60.8 million, or $1.27 per diluted share, compared to a net loss of $41.7 million, or $0.90 per diluted share, in 2023. Q4 2024 GAAP net loss was $25.0 million, or $0.51 per diluted share, including approximately $6.0 million in non-routine charges primarily for industrial inventory reserves.
Despite these challenges, nLIGHT's defense business grew 20% year-over-year to $110 million in 2024, representing approximately 55% of overall sales. For the first quarter of 2025, nLIGHT expects revenues between $45 million and $51 million, with an overall gross margin of 13% to 17% and Adjusted EBITDA in the range of ($6) million to ($3) million.
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