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nLIGHT Earnings Presentation Q2 2026 August 6 , 2026 This presentation contains nLIGHT , Inc. proprietary information . No part of it may be circulated , quoted , or reproduced for distribution without prior written approval from nLIGHT , Inc.
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2 Certain statements in this presentation are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Words such as “outlook,” “guidance,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions may identify these forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding expected revenues, gross margin, and Adjusted EBITDA, our business strategy and ongoing supply chain disruptions, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements, including but not limited to our ability to compete successfully in the markets for our products; changes in the markets we serve or in the global economy; our ability to increase our volumes and decrease our costs to offset potential declines in the average selling prices of our products; rapid technological changes in the markets that we participate in; our ability to develop and maintain products that can achieve market acceptance; our ability to generate sufficient revenues to achieve or maintain profitability in the future; our high levels of fixed costs and inventory and their effect on our gross profits and results of operations if demand for our products declines or we maintain excess inventory levels; our ability to manage growth and spending during economic downturns; our manufacturing capacity and operations and their suitability for future levels of demand; our reliance on third parties to manufacture certain of our products and product components; our reliance on a small number of customers for a significant portion of our revenues; our ability to manage risks associated with international customers and operations; the effect of government export and import controls on our ability to compete in international markets; our ability to protect our proprietary technology and intellectual property rights; fluctuations in our quarterly results of operations and other operating measures; and the effect on our business of claims, lawsuits, government investigations, other legal or regulatory proceedings, or commercial or contractual disputes that we are or may become involved in. Additional information concerning these and other factors can be found in nLIGHT's filings with the Securities and Exchange Commission (the “SEC”), including other risks, relevant factors and uncertainties identified in the “Risk Factors” section of nLIGHT's most recent Annual Report on Form 10-K and subsequent filings with the SEC. nLIGHT undertakes no obligation to update publicly or revise any forward-looking statements contained herein to reflect future events or developments, except as required by law. This presentation includes certain non-GAAP financial measures as defined by the SEC rules, including non-GAAP operating expense, Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP net income (loss) per share (basic and diluted). These non-GAAP financial measures are provided in addition to, and not as a substitute for or superior to measures of financial performance prepared in accordance with U.S. GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. As required by Regulation G, we have provided a reconciliation of those measures to the most directly comparable GAAP measures, which is available in the appendix. This presentation may also contain estimates, projections and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry and our business. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the accuracy and completeness of the information obtained by third parties included in this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products, solutions and services of nLIGHT, Inc. Safe Harbor Statement
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3 Second Quarter 2026 | Key Messages A&D Drives Strong Growth Q2’26 Aerospace & Defense revenue increased 41% year-over-year driven by record A&D product revenue Margins & Adj. EBITDA Q2’26 gross margin and Adjusted EBITDA above / at the high-end of guidance on record revenue, healthy product margins, and strong operational execution Strength in Directed Energy Execution against existing programs drove near-term product growth while pipeline of new opportunities continues to build LT Outlook Remains Positive New Directed Energy awards significantly increase pipeline of long-term growth opportunities
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4 • Q2 revenue above the high-end of guidance – $82.6M of total revenue | +34% year-over-year, +3% quarter-over-quarter – Total A&D revenue of $57.3 million | +41% year-over-year, +4% quarter-over-quarter • Record A&D products revenue of $34.1 million | +72% year-over-year, +3% quarter-over-quarter • Development revenue of $23.2 million | +11% year-over-year, +5% quarter-over-quarter • Gross margins & Adjusted EBITDA remain strong – GAAP GM 31.1% | GAAP Products GM 41.2% • Non-GAAP GM 32.6% | Non-GAAP Products GM 42.4% – Adjusted EBITDA | $10.7 million driven by better revenue, strong gross margin flow-through, partially offset by increased OpEx • Strong balance sheet with $331M of cash and marketable securities – Positive operating and free cash flow – Includes impact of repayment of line of credit in the quarter • Strong growth in aerospace & defense; commercial stable – A&D | record revenue in A&D products driven by growth in defense products and solid execution in Directed Energy – Microfabrication | Order patterns remain healthy – Industrial | Strong demand in additive manufacturing Q2 2026 Summary | Record Product Revenue and Strong Margins
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5 Revenue by Market | A&D Drove Growth Percentages may not total to 100% due to rounding Q2 ’26 Total Revenue • $82.6 million • +34% y/y • +3% q/q Q2 ’26 A&D Revenue • $57.3 million • +41% y/y • +4% q/q Q2 ’26 Industrial Revenue • $12.0 million • +24% y/y • flat q/q Q2 ’26 Microfab Revenue • $13.3 million • +17% y/y • +2% q/q Quarterly Revenue $ Millions 39% 46% 38% 52% 49% 54% 54% 64% 63% 66%37% 31% 39% 29% 27% 26% 21% 19% 17% 16% 24% 23% 24% 20% 24% 20% 25% 17% 20% 18% $45 $51 $56 $47 $52 $62 $67 $81 $80 $83 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2024 2025 2026
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Q2 2026 Financial Update
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7 Q2 2026 Summary Financial Results | Strong Execution Drove Solid Results • Q2 ’26 Revenue grew 34% Y/Y • Product revenue +45% Y/Y • Development revenue +11% Y/Y • Gross Margin remains healthy • Strong product margin • Favorable mix • Higher volumes • Solid Adjusted EBITDA • Better revenue & gross margin • Partially offset by higher operating expenses • Positive operating cash flow • While investing in working capital • Capex in-line * See Appendix for reconciliation to most directly comparable GAAP measure Q2 2026 Q2 2025 Q1 2026 Total Revenue ($ in millions) $82.6 $61.7 $80.2 Products Revenue $59.4 $40.8 $58.2 Development Revenue $23.2 $20.9 $22.0 Total Gross Margin (GAAP) 31.1% 29.9% 33.1% Products Gross Margin (GAAP) 41.2% 38.5% 43.6% Development Gross Margin (GAAP) 5.6% 13.1% 5.1% Total Gross Margin (non-GAAP) 32.6% 30.9% 34.4% Products Gross Margin (non-GAAP) 42.4% 40.0% 44.6% Development Gross Margin (non-GAAP) 7.5% 13.1% 7.2% Net Income (Loss) ($1.3) ($3.6) $0.6 Non-GAAP Net Income* $9.6 $2.9 $11.8 Net Income (Loss) per Share (diluted) ($0.02) ($0.07) $0.01 Non-GAAP Net Income per Share (diluted)* $0.15 $0.06 $0.20 Adjusted EBITDA* $10.7 $5.6 $13.8 Cash and investments $330.8 $114.0 $332.9 Cash Flow from (used in) Operations $20.7 ($1.4) $9.7 Capital Expenditures ($4.9) ($2.0) ($2.1)
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8 Gross Margin | Products Gross Margin Trends Products Revenue & Non-GAAP Product Gross Margin – Quarterly $ Millions; % of Revenue $29 $34 $41 $32 $36 $41 $48 $55 $58 $59 22.7% 32.2% 30.3% 21.6% 35.1% 40.0% 42.3% 38.6% 44.6% 42.4% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% $0 $10 $20 $30 $40 $50 $60 $70 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2024 2025 2026 Products Revenue Products Non-GAAP GM %
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9 Note: Excluding stock-based compensation expense, amortization of purchased intangibles and acquisition and integration-related costs. See Appendix for a reconciliation to GAAP operating expenses. Operating Expenses | Operating Expense Trends Operating Expenses (Non-GAAP) $ Millions; % of Revenue 8.9 9.4 9.1 9.6 9.4 9.0 8.9 10.5 9.6 10.4 8.3 8.6 9.2 8.2 8.3 7.7 8.6 7.9 7.5 9.1 $17.2 $18.0 $18.3 $17.7 $17.8 $16.8 $17.5 $18.4 $17.1 $19.5 0% 10% 20% 30% 40% 50% $0 $5 $10 $15 $20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2024 2025 2026 R&D SG&A
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10 Note: Excluding stock-based compensation expense, amortization of purchased intangibles and acquisition and integration-related costs. See Appendix for a reconciliation to GAAP operating expenses. Adjusted EBITDA | Quarterly Trends Adjusted EBITDA $ millions -$4.9 -$1.6 -$1.0 -$11.3 $0.1 $5.5 $7.1 $10.7 $13.8 $10.7 -$15.0 -$10.0 -$5.0 $0.0 $5.0 $10.0 $15.0 $20.0 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26
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11 Note: Excluding stock-based compensation expense, amortization of purchased intangibles and acquisition and integration-related costs. See Appendix for a reconciliation to GAAP operating expenses. Cash Flow Conversion | Continued Improvement in Working Capital Working Capital Metrics Days 164 144 132 128 125 118 126 103 97 91 68 53 58 71 62 59 63 56 56 52 128 123 104 87 101 96 98 78 75 73 32 32 31 31 38 37 35 30 34 34 0 25 50 75 100 125 150 175 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 CCC DSO DIO DPO
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12 Note: Excluding stock-based compensation expense, amortization of purchased intangibles and acquisition and integration-related costs. See Appendix for a reconciliation to GAAP operating expenses. Operating Cash Flow | Converting Adjusted EBITDA to Cash Operating Cash Flow and Adjusted EBITDA Conversion $ in millions ($4.9) ($1.6) ($1.0) ($11.3) $0.1 $5.6 $7.1 $10.7 $13.8 $10.7 $11.4 ($4.2) ($5.6) ($3.9) ($0.0) ($1.4) $5.2 $17.5 $9.7 $20.7 -$15.0 -$12.0 -$9.0 -$6.0 -$3.0 $0.0 $3.0 $6.0 $9.0 $12.0 $15.0 $18.0 $21.0 $24.0 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Adjusted EBITDA Operating Cash Flow
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13 Outlook | Q3 2026 * We have not reconciled our outlook for Adjusted EBITDA because unrealized and realized foreign exchange gains and losses cannot be reasonably calculated or predicted nor can the probable significance be determined at this time. Accordingly, a reconciliation is not available without unreasonable effort. • Q3 2026 Revenues of $63 million to $73 million; midpoint of $68 million – Products: $43 million at midpoint • Due to supply chain challenges, Q3 2026 product revenue guidance EXCLUDES approximately $17 million that nLIGHT would have expected to ship in the 3rd quarter of 2026 but is now expected to be delivered in future quarters – Advanced Development: $25 million at midpoint • Q2 2026 Gross Margin of 24% to 30% – Products: 34% to 40% – Advanced Development: ~8% • Q1 2026 Adjusted EBITDA of $1 million to $7 million
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Appendix
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16 Supplemental Information | Revenue & Gross Margin nLight, Inc. 2024 2025 2026 (in thousands, except per share data) Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 6mo. Revenue: Products $ 29,370 $ 34,458 $ 41,132 $ 31,699 $ 136,659 $ 35,678 $ 40,824 $ 47,608 $ 55,126 $ 179,236 $ 58,202 $ 59,363 $ 117,565 Development 15,157 16,053 14,997 15,682 61,889 15,990 20,911 19,134 26,059 82,094 21,979 21,979 21,979 Total revenue 44,527 50,511 56,129 47,381 198,548 51,668 61,735 66,742 81,185 261,330 80,181 81,342 139,544 Cost of revenue: Products 23,231 24,011 29,286 31,475 108,003 23,724 25,105 28,086 34,539 111,454 32,810 34,929 67,739 Development 13,808 14,650 14,293 14,775 57,526 14,145 18,173 17,903 21,692 71,913 20,858 21,937 42,795 Total cost of revenue 37,039 38,661 43,579 46,250 165,529 37,869 43,278 45,989 56,231 183,367 53,668 56,866 110,534 Gross profit: Products 6,139 10,447 11,846 224 28,656 11,954 15,719 19,522 20,587 67,782 25,392 24,434 49,826 Development 1,349 1,403 704 907 4,363 1,845 2,738 1,231 4,367 10,181 1,121 42 (20,816) Total gross profit 7,488 11,850 12,550 1,131 33,019 13,799 18,457 20,753 24,954 77,963 26,513 24,476 29,010 Gross margin: Products 20.9 % 30.3 % 28.8 % 0.7 % 21.0 % 33.5 % 38.5 % 41.0 % 37.3 % 37.8 % 43.6 % 41.2 % 42.4 % Development 8.9 % 8.7 % 4.7 % 5.8 % 7.0 % 11.5 % 13.1 % 6.4 % 16.8 % 12.4 % 5.1 % 0.2 % (94.7)% Total gross margin 16.8 % 23.5 % 22.4 % 2.4 % 16.6 % 26.7 % 29.9 % 31.1 % 30.7 % 29.8 % 33.1 % 30.1 % 20.8 %
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17 GAAP to Non-GAAP Reconciliation | Gross Margin nLight, Inc. (in thousands, except per share data) Products Development Total Products Development Total Products Development Total Revenue $ 58,202 $ 21,979 $ 80,181 $ 59,363 $ 23,228 $ 82,591 $ 117,565 $ 45,207 $ 162,772 Cost of revenue (32,810) (20,858) (53,668) (34,929) (21,937) (56,866) (67,739) (42,795) (110,534) Gross profit 25,392 1,121 26,513 24,434 1,291 25,725 49,826 2,412 52,238 Non-GAAP adjustments: Share-based compensation 590 464 1,054 762 455 1,217 1,352 919 2,271 Non-GAAP gross profit 25,982 1,585 27,567 25,196 1,746 26,942 51,178 3,331 54,509 Gross margin 43.6% 5.1% 33.1% 41.2% 5.6% 31.1% 42.4% 5.3% 32.1% Non-GAAP gross margin 44.6% 7.2% 34.4% 42.4% 7.5% 32.6% 43.5% 7.4% 33.5% Q2 6mo. Ending 6/30/2026 2026 Q1 nLight, Inc. 2025 (in thousands, except per share data) Products Development Total Products Development Total Products Development Total Products Development Total Products Development Total Revenue $ 35,678 $ 15,990 $ 51,668 $ 40,824 $ 20,911 $ 61,735 $ 47,608 $ 19,134 $ 66,742 $ 55,126 $ 26,059 $ 81,185 $ 179,236 $ 82,094 $ 261,330 Cost of revenue (23,724) (14,145) (37,869) (25,105) (18,173) (43,278) (28,086) (17,903) (45,989) (34,539) (21,692) (56,231) (111,454) (71,913) (183,367) Gross profit 11,954 1,845 13,799 15,719 2,738 18,457 19,522 1,231 20,753 20,587 4,367 24,954 67,782 10,181 77,963 Non-GAAP adjustments: Share-based compensation 570 - 570 598 - 598 615 - 615 687 - 687 2,470 - 2,470 Non-GAAP gross profit 12,524 1,845 14,369 16,317 2,738 19,055 20,137 1,231 21,368 21,274 4,367 25,641 70,252 10,181 80,433 Gross margin 33.5% 11.5% 26.7% 38.5% 13.1% 29.9% 41.0% 6.4% 31.1% 37.3% 16.8% 30.7% 37.8% 12.4% 29.8% Non-GAAP gross margin 35.1% 11.5% 27.8% 40.0% 13.1% 30.9% 42.3% 6.4% 32.0% 38.6% 16.8% 31.6% 39.2% 12.4% 30.8% Q1 Q2 Q3 Q4 Total
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18 GAAP to Non-GAAP Reconciliation | Gross Margin (cont’d) nLight, Inc. 2024 (in thousands, except per share data) Products Development Total Products Development Total Products Development Total Products Development Total Products Development Total Revenue 29,370 15,157 44,527 34,458 16,053 50,511 41,132 14,997 56,129 31,699 15,682 47,381 136,659 61,889 198,548 Cost of revenue (23,231) (13,808) (37,039) (24,011) (14,650) (38,661) (29,286) (14,293) (43,579) (31,475) (14,775) (46,250) (108,003) (57,526) (165,529) Gross profit 6,139 1,349 7,488 10,447 1,403 11,850 11,846 704 12,550 224 907 1,131 28,656 4,363 33,019 Non-GAAP adjustments: Share-based compensation 541 - 541 659 - 659 629 - 629 609 - 609 2,438 - 2,438 Non-GAAP gross profit 6,680 1,349 8,029 11,106 1,403 12,509 12,475 704 13,179 833 907 1,740 31,094 4,363 35,457 Gross margin 20.9% 8.9% 16.8% 30.3% 8.7% 23.5% 28.8% 4.7% 22.4% 0.7% 5.8% 2.4% 21.0% 7.0% 16.6% Non-GAAP gross margin 22.7% 8.9% 18.0% 32.2% 8.7% 24.8% 30.3% 4.7% 23.5% 2.6% 5.8% 3.7% 22.8% 7.0% 17.9% Q1 Q2 Q3 Q4 Total
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19 GAAP to Non-GAAP Reconciliation | Operating Expenses nLight, Inc. 2024 2025 2026 (in thousands, except per share data) Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 6mo. R&D expense (GAAP) $ 10,659 $ 11,736 $ 11,328 $ 11,384 $ 45,107 $ 11,374 $ 11,012 $ 11,534 $ 14,052 $ 47,972 $ 11,846 $ 13,130 $ 24,976 Non-GAAP adjustments: Stock-based compensation in R&D (1,613) (2,175) (2,046) (1,671) (7,505) (1,784) (1,834) (2,560) (3,103) (9,281) (2,261) (2,682) (4,943) Amortization of purchased intangibles (149) (148) (149) (148) (594) (149) (148) (100) (436) (833) - - - Non-GAAP R&D expense $ 8,897 $ 9,413 $ 9,133 $ 9,565 $ 37,008 $ 9,441 $ 9,030 $ 8,874 $ 10,513 $ 37,858 $ 9,585 $ 10,448 $ 20,033 SG&A expense (GAAP) 11,547 12,804 13,021 11,885 49,257 12,035 11,681 14,785 15,692 54,193 15,091 16,162 31,253 Non-GAAP adjustments: Stock-based compensation in SG&A (3,277) (4,169) (3,852) (3,720) (15,018) (3,702) (3,939) (6,187) (7,832) (21,660) (7,571) (7,064) (14,635) Non-GAAP SG&A expense $ 8,270 $ 8,635 $ 9,169 $ 8,165 $ 34,239 $ 8,333 $ 7,742 $ 8,598 $ 7,860 $ 32,533 $ 7,520 $ 9,098 $ 16,618
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20 (1) There is no income tax effect related to the stock-based compensation, acquisition and integration-related costs, and amortization of purchased intangibles adjustments due to the full valuation allowance in the U.S. GAAP to Non-GAAP Reconciliation | Adjusted EBITDA, Net Income and EPS nLight, Inc. 2024 2025 2026 (in thousands, except per share data) Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 6mo. Stock-based compensation included in following: Cost of revenues 541$ 659$ 629$ 609$ 2,438$ 570$ 598$ 615$ 687$ 2,470$ 1,054$ 1,217$ 2,271$ Research and development 1,613 2,175 2,046 1,671 7,505 1,784 1,834 2,560 3,103 9,281 2,261 2,682 4,943 Sales, general, and administrative 3,277 4,169 3,852 3,720 15,018 3,702 3,939 6,187 7,832 21,660 7,571 7,064 14,635 Total stock-based compensation 5,431$ 7,003$ 6,527$ 6,000$ 24,961$ 6,056$ 6,371$ 9,362$ 11,622$ 33,411$ 10,886$ 10,963$ 21,849$ nLight, Inc. 2024 2025 2026 (in thousands, except per share data) Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 6mo. Net income (loss) (13,766)$ (11,729)$ (10,335)$ (24,962)$ (60,792)$ (8,093)$ (3,591)$ (6,874)$ (4,909)$ (23,467)$ 645$ (1,339)$ (694)$ Adjustments: Income tax expense (benefit) 144 120 261 (601) (76) 137 17 273 272 699 53 75 128 Other (income) expense (641) (622) (1,331) (506) (3,100) (14) 58 64 (68) 40 (155) (33) (188) Interest (income) (475) (479) (421) (398) (1,773) (1,688) (1,108) (1,079) (1,031) (4,906) (1,562) (2,474) (4,036) Interest expense 20 20 27 38 105 48 388 317 331 1,084 300 204 504 Depreciation and amortization 4,393 4,088 4,278 4,837 17,596 3,670 3,415 3,313 3,859 14,257 3,369 3,335 6,704 Stock-based compensation 5,431 7,003 6,527 6,000 24,961 6,056 6,371 9,362 11,622 33,411 10,886 10,963 21,849 Restructuring charges - - - 4,291 4,291 - - 1,733 615 2,348 295 - 295 Adjusted EBITDA (4,894)$ (1,599)$ (994)$ (11,301)$ (18,788)$ 116$ 5,550$ 7,109$ 10,691$ 23,466$ 13,831$ 10,731$ 24,562$ Net income (loss) (13,766)$ (11,729)$ (10,335)$ (24,962)$ (60,792)$ (8,093)$ (3,591)$ (6,874)$ (4,909)$ (23,467)$ 645$ (1,339)$ (694)$ Add back: Stock-based compensation (1) 5,431 7,003 6,527 6,000 24,961 6,056 6,371 9,362 11,622 33,411 10,886 10,963 21,849 Amortization of purchased intangibles 149 148 149 148 594 149 148 100 436 833 - - - Restructuring charges - - - 4,291 4,291 - - 1,733 615 2,348 295 - 295 Non-GAAP net income (loss) (8,186)$ (4,578)$ (3,659)$ (14,523)$ (30,946)$ (1,888)$ 2,928$ 4,321$ 7,764$ 13,125$ 11,826$ 9,624$ 21,450$ GAAP weighted-average shares outstanding 47,242 47,658 48,133 48,557 47,900 49,093 49,581 50,288 50,931 49,979 54,121 56,983 55,560 Dilutive effect of common stock equivalents - - - - - - 1,573 4,139 4,587 3,702 5,854 5,325 5,621 Non-GAAP weighted-average number of shares, diluted 47,242 47,658 48,133 48,557 47,900 49,093 51,154 54,427 55,518 53,681 59,975 62,308 61,181 Non-GAAP net income (loss) per share, basic (0.17)$ (0.10)$ (0.08)$ (0.30)$ (0.65)$ (0.04)$ 0.06$ 0.09$ 0.15$ 0.26$ 0.22$ 0.17$ 0.39$ Non-GAAP net income (loss) per share, diluted (0.17) (0.10) (0.08) (0.30) (0.65) (0.04) 0.06 0.08 0.14 0.24 0.20 0.15 0.35
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21 Supplemental Information | Key Revenue Metrics Note: Percentages may not total to 100 due to rounding. nLight, Inc. 2024 2025 2026 (in thousands, except per share data) Q1 Q2 Q3 Q4 FY 2024 Q1 Q2 Q3 Q4 FY 2025 Q1 Q2 FY 2026 Revenues by end market Aerospace and defense $ 21,745 $ 27,390 $ 30,278 $ 30,127 $ 109,540 $ 32,706 $ 40,695 $ 45,554 $ 56,298 $ 175,253 $ 55,127 $ 57,298 $ 112,425 Industrial 11,985 12,905 11,588 9,137 45,615 8,856 9,746 9,577 10,668 38,847 12,025 12,042 24,067 Microfabrication 10,797 10,216 14,263 8,117 43,393 10,106 11,294 11,611 14,219 47,230 13,029 13,251 26,280 Total revenues 44,527 50,511 56,129 47,381 198,548 51,668 61,735 66,742 81,185 261,330 80,181 82,591 162,772 Aerospace & defense as % of total 49 % 54 % 54 % 64 % 55 % 63 % 66 % 68 % 69 % 67 % 69 % 69 % 69 % Industrial as % of total 27 % 26 % 21 % 19 % 23 % 17 % 16 % 14 % 13 % 15 % 15 % 15 % 15 % Microfabrication as % of total 24 % 20 % 25 % 17 % 22 % 20 % 18 % 17 % 18 % 18 % 16 % 16 % 16 % Revenues by geography North America $ 28,724 $ 35,640 $ 36,332 $ 32,116 $ 132,812 $ 36,085 $ 45,171 $ 46,682 $ 57,682 $ 185,620 $ 59,255 $ 59,498 $ 118,753 Asia Pacific 10,034 9,077 11,211 7,815 38,137 9,128 8,662 9,280 11,352 38,422 11,872 9,186 21,058 EMEA 5,794 5,794 8,586 7,450 27,599 6,455 7,902 10,780 12,151 37,288 9,054 13,907 22,961 Total revenues 44,552 50,511 56,129 47,381 198,548 51,668 61,735 66,742 81,185 261,330 80,181 82,591 162,772 North America as % of total 64 % 71 % 65 % 68 % 67 % 70 % 73 % 70 % 71 % 71 % 74 % 72 % 73 % Asia Pacific as % of total 23 % 18 % 20 % 16 % 19 % 18 % 14 % 14 % 14 % 15 % 15 % 11 % 13 % EMEA as % of total 13 % 11 % 15 % 16 % 14 % 12 % 13 % 16 % 15 % 14 % 11 % 17 % 14 %