nLIGHT

Defense product revenue nearly doubled this quarter, hitting a record 33.1 million dollars, up 98 percent from last year. Total sales jumped 55 percent to 80.2 million dollars, and the company finally swung to a profit of 645 thousand dollars after losing 8 million dollars a year ago. The pivot to laser weapons is paying off in a huge way.

nLIGHT now sits on roughly 298 million dollars in cash, up from 99 million dollars just three months ago, after raising fresh capital. That war chest gives them room to scale production, win bigger contracts, and chase new directed energy programs without sweating short-term losses.

Management guided next quarter's gross margin down to a range of 29 to 33 percent, and the development side will earn just 8 percent margins. Revenue guidance of 75 to 81 million dollars also barely budges from this quarter, so the explosive growth could pause while the business absorbs lower-margin contracts.

Roughly two thirds of revenue now comes from defense, and the top ten customers account for about 75 percent of sales. If Pentagon budgets shift or a single program slips, results could get bumpy fast, even with a healthy 33 percent gross margin this quarter.