Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%

Megatrend and thematic drivers
Megatrends include Automation & Robotics, Battery Technology & Metals, and Advanced Materials. Themes include Factory Automation, Show more.

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.2%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 113x

Stock price has recently run up significantly
12M Rtn12 month market price return is 241%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 65%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.7%

Key risks
LASR key risks include [1] its significant revenue concentration within the U.S. Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
2 Megatrend and thematic drivers
Megatrends include Automation & Robotics, Battery Technology & Metals, and Advanced Materials. Themes include Factory Automation, Show more.
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.2%
4 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 113x
5 Stock price has recently run up significantly
12M Rtn12 month market price return is 241%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%
7 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 65%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.7%
9 Key risks
LASR key risks include [1] its significant revenue concentration within the U.S. Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/16/2026

nLight (LASR) stock has gained about 15% since 2/28/2026 because of the following key factors:

1. nLight reported robust fiscal Q1 2026 financial results on May 7, 2026, significantly surpassing analyst expectations for both earnings and revenue.

The company announced adjusted earnings per share (EPS) of $0.20, which notably exceeded the consensus analyst estimate of $0.08. Concurrently, nLight posted revenues of $80.2 million, representing a 55.2% year-over-year increase and beating analyst forecasts of $72.08 million. Furthermore, the company provided an optimistic outlook for fiscal Q2 2026, projecting revenues between $75 million and $81 million, with the midpoint of $78 million exceeding analyst expectations.

2. The Aerospace and Defense (A&D) segment demonstrated exceptional growth, fueled by strong demand for high-power laser solutions.

In fiscal Q1 2026, A&D revenue surged by 69% year-over-year to $55.1 million, with record A&D product revenue increasing by 98% year-over-year to $33.1 million. This growth was driven by continued expansion in directed energy, optical sensing, and advanced manufacturing applications, including new contract wins and the introduction of advanced laser weapon systems like the HADES product line and 70-kW-class Laser Weapon Systems showcased in March 2026.

Show more
Updated on 6/16/2026

nLight (LASR) stock has gained about 15% since 2/28/2026 because of the following key factors:

1. nLight reported robust fiscal Q1 2026 financial results on May 7, 2026, significantly surpassing analyst expectations for both earnings and revenue.

The company announced adjusted earnings per share (EPS) of $0.20, which notably exceeded the consensus analyst estimate of $0.08. Concurrently, nLight posted revenues of $80.2 million, representing a 55.2% year-over-year increase and beating analyst forecasts of $72.08 million. Furthermore, the company provided an optimistic outlook for fiscal Q2 2026, projecting revenues between $75 million and $81 million, with the midpoint of $78 million exceeding analyst expectations.

2. The Aerospace and Defense (A&D) segment demonstrated exceptional growth, fueled by strong demand for high-power laser solutions.

In fiscal Q1 2026, A&D revenue surged by 69% year-over-year to $55.1 million, with record A&D product revenue increasing by 98% year-over-year to $33.1 million. This growth was driven by continued expansion in directed energy, optical sensing, and advanced manufacturing applications, including new contract wins and the introduction of advanced laser weapon systems like the HADES product line and 70-kW-class Laser Weapon Systems showcased in March 2026.

3. Positive analyst sentiment and increased price targets followed the strong performance and strategic direction.

Several financial firms upgraded their price targets for nLight after the fiscal Q1 2026 earnings release. Stifel raised its price target to $85 from $75 on May 21, 2026, while Needham increased its target to $80 from $70 on May 8, 2026. Robert W. Baird also initiated coverage with an "outperform" rating and a $95 price target on March 4, 2026, highlighting favorable market conditions and positive future stock performance predictions. The consensus analyst rating for LASR generally indicates a "Strong Buy" or "Moderate Buy."

4. Strategic shift towards higher-margin defense products and improved operational efficiency contributed to enhanced profitability.

nLight's strategic decision to exit lower-growth, lower-margin legacy businesses, such as certain cutting and welding applications, to prioritize higher-value defense and advanced laser platforms, is a key factor. This shift, combined with improved manufacturing efficiency and cost-control measures, led to a record product gross margin of 44% in fiscal Q1 2026, up from 33% in the same quarter of the previous year. The company also achieved a record adjusted EBITDA of $13.9 million in fiscal Q1 2026.

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Stock Movement Drivers

Fundamental Drivers

The 14.9% change in LASR stock from 2/28/2026 to 6/17/2026 was primarily driven by a 10.9% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820266172026Change
Stock Price ($)56.1964.5514.9%
Change Contribution By: 
Total Revenues ($ Mil)26129010.9%
P/S Multiple11.012.110.0%
Shares Outstanding (Mil)5154-5.9%
Cumulative Contribution14.9%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/17/2026
ReturnCorrelation
LASR14.9% 
Market (SPY)8.3%55.4%
Sector (XLK)34.1%61.0%

Fundamental Drivers

The 83.2% change in LASR stock from 11/30/2025 to 6/17/2026 was primarily driven by a 54.8% change in the company's P/S Multiple.
(LTM values as of)113020256172026Change
Stock Price ($)35.2364.5583.2%
Change Contribution By: 
Total Revenues ($ Mil)22829027.4%
P/S Multiple7.812.154.8%
Shares Outstanding (Mil)5054-7.1%
Cumulative Contribution83.2%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/17/2026
ReturnCorrelation
LASR83.2% 
Market (SPY)9.0%47.6%
Sector (XLK)30.2%54.1%

Fundamental Drivers

The 326.6% change in LASR stock from 5/31/2025 to 6/17/2026 was primarily driven by a 233.8% change in the company's P/S Multiple.
(LTM values as of)53120256172026Change
Stock Price ($)15.1364.55326.6%
Change Contribution By: 
Total Revenues ($ Mil)20629040.9%
P/S Multiple3.612.1233.8%
Shares Outstanding (Mil)4954-9.3%
Cumulative Contribution326.6%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/17/2026
ReturnCorrelation
LASR326.6% 
Market (SPY)27.2%49.6%
Sector (XLK)61.8%53.2%

Fundamental Drivers

The 346.4% change in LASR stock from 5/31/2023 to 6/17/2026 was primarily driven by a 322.5% change in the company's P/S Multiple.
(LTM values as of)53120236172026Change
Stock Price ($)14.4664.55346.4%
Change Contribution By: 
Total Revenues ($ Mil)23229025.1%
P/S Multiple2.912.1322.5%
Shares Outstanding (Mil)4654-15.5%
Cumulative Contribution346.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/17/2026
ReturnCorrelation
LASR346.4% 
Market (SPY)84.3%45.1%
Sector (XLK)130.9%46.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
LASR Return-27%-58%33%-22%258%77%103%
Peers Return22%-6%16%-5%6%38%85%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
LASR Win Rate25%42%42%33%75%83% 
Peers Win Rate52%40%52%44%50%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
LASR Max Drawdown-48%-64%-48%-33%-47%-26% 
Peers Max Drawdown-27%-39%-38%-35%-42%-22% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: QCOM, FSLR, SLAB, POWI, CBRS. See LASR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/17/2026 (YTD)

How Low Can It Go

EventLASRS&P 500
2025 US Tariff Shock
  % Loss-39.9%-18.8%
  % Gain to Breakeven66.5%23.1%
  Time to Breakeven31 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-42.7%-9.5%
  % Gain to Breakeven74.5%10.5%
  Time to Breakeven49 days24 days
2023 SVB Regional Banking Crisis
  % Loss-31.7%-6.7%
  % Gain to Breakeven46.3%7.1%
  Time to Breakeven9 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-63.3%-24.5%
  % Gain to Breakeven172.5%32.4%
  Time to Breakeven1031 days427 days
2020 COVID-19 Crash
  % Loss-53.0%-33.7%
  % Gain to Breakeven112.9%50.9%
  Time to Breakeven34 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-24.1%-19.2%
  % Gain to Breakeven31.7%23.8%
  Time to Breakeven63 days105 days

Compare to QCOM, FSLR, SLAB, POWI, CBRS

In The Past

nLight's stock fell -39.9% during the 2025 US Tariff Shock. Such a loss loss requires a 66.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventLASRS&P 500
2025 US Tariff Shock
  % Loss-39.9%-18.8%
  % Gain to Breakeven66.5%23.1%
  Time to Breakeven31 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-42.7%-9.5%
  % Gain to Breakeven74.5%10.5%
  Time to Breakeven49 days24 days
2023 SVB Regional Banking Crisis
  % Loss-31.7%-6.7%
  % Gain to Breakeven46.3%7.1%
  Time to Breakeven9 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-63.3%-24.5%
  % Gain to Breakeven172.5%32.4%
  Time to Breakeven1031 days427 days
2020 COVID-19 Crash
  % Loss-53.0%-33.7%
  % Gain to Breakeven112.9%50.9%
  Time to Breakeven34 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-24.1%-19.2%
  % Gain to Breakeven31.7%23.8%
  Time to Breakeven63 days105 days

Compare to QCOM, FSLR, SLAB, POWI, CBRS

In The Past

nLight's stock fell -39.9% during the 2025 US Tariff Shock. Such a loss loss requires a 66.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About nLight (LASR)

nLIGHT, Inc. (LASR) is a leading technology company that designs, manufactures, and sells advanced semiconductor and fiber lasers. These specialized lasers serve as critical components in precision and high-power applications across various industries. Beyond laser sources, nLIGHT also develops crucial complementary technologies, including fiber amplifiers and sophisticated beam combination and control systems, which are essential for optimizing and deploying high-energy laser solutions.

The company's primary product offerings leverage its expertise in both semiconductor and fiber laser technologies, tailored for demanding uses. nLIGHT targets three main market segments: industrial applications, encompassing areas like material processing; microfabrication, focusing on precision manufacturing at a microscopic scale; and the aerospace and defense sector, where its systems are vital for high-energy laser (HEL) applications and directed energy initiatives.

AI Analysis | Feedback

Here are a few analogies for nLight (LASR):

  • Intel for high-power industrial and defense lasers. (Similar to how Intel provides the core processors for computers, nLight provides advanced laser components for high-tech industrial, microfabrication, and defense systems.)
  • Corning for advanced laser technology. (Like Corning specializes in glass science and materials that enable various industries, nLight is a specialist in sophisticated laser components and systems for demanding applications.)

AI Analysis | Feedback

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  • Semiconductor and Fiber Lasers: These are core products designed for industrial, microfabrication, and aerospace and defense applications.
  • Fiber Amplifiers: These systems are used to amplify light signals, particularly in high-energy laser systems.
  • Beam Combination and Control Systems: These systems are essential for managing and directing high-energy laser beams, especially in directed energy applications.
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AI Analysis | Feedback

nLight (LASR) primarily sells its products to other companies, serving industrial, microfabrication, and aerospace and defense sectors. Its major customers, based on its most recent annual report (2023 10-K), are:

  • TRUMPF GmbH + Co. KG: A private German company that is a leading manufacturer of machine tools and lasers for industrial production.
  • Dantsu Co. Ltd.: A private company based in Japan, which is a distributor of laser products and solutions.

AI Analysis | Feedback

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AI Analysis | Feedback

Scott Keeney, Co-Founder and Chief Executive Officer
Scott Keeney co-founded nLight in 2000 and has served as the company's chief executive officer since its inception, also holding the position of chairman of the board of directors. Before establishing nLight, Keeney was the CEO of Aculight, which was subsequently acquired by Lockheed Martin Corporation. He also worked as a consultant with McKinsey & Company. Keeney is the founder of nConnect, a non-profit dedicated to enhancing STEM education in K-12 schools. In 2006, he was awarded the Ernst & Young Entrepreneur of the Year for Technology in the Pacific Northwest.

Joseph Corso, Chief Financial Officer
Joseph Corso joined nLight in 2020 and assumed the role of Chief Financial Officer effective March 1, 2022. Prior to his tenure at nLight, Corso served as Global Co-Head of Electronics and Industrial Technology at Stifel for over 15 years, where he provided advisory services to publicly traded companies on a variety of corporate finance and M&A transactions.

Robert Martinsen, Chief Technology Officer
Robert Martinsen is a co-founder of nLight and serves as the Chief Technology Officer. In this role, he is responsible for driving the core technology roadmap for the company's semiconductor and fiber lasers.

Chris Schechter, Chief Operating Officer
Chris Schechter joined nLight in 2022 as the Chief Operating Officer. Before joining nLight, Schechter held the position of Vice President of Operations for the Aerospace and Defense segment at Celestica. His past experience also includes roles such as VP/GM at Zodiac Seats and StandardAero, Manufacturing Integration Leader for the Parker Hannifin acquisition of Clarcor Filtration, and Director-level positions in Product Development, Operations Management, and Operational Excellence/Lean6Sigma for Axcelis Technologies.

Julie Dimmick, Vice President and General Counsel
Julie Dimmick joined nLight in 2021, serving as a Vice President and the company's General Counsel. Before her time at nLight, Dimmick held positions as senior counsel at AeroVironment, Inc., and general counsel at GE Homeland Protection, Inc. She also served as a special advisor to Secretary Tom Ridge at the U.S. Department of Homeland Security.

AI Analysis | Feedback

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Here are the key risks to nLight's business:

  1. Persistent Unprofitability and High Financial Leverage: nLight has a history of negative GAAP profitability and operating margins, along with elevated net debt to EBITDA. While the company achieved positive Adjusted EBITDA in 2025, a clear and consistent path to positive net earnings and sustainable operating cash flow remains a significant concern for investors. This financial condition, coupled with high valuation multiples based on future expectations, means the stock is highly sensitive to any slowdown in growth or continued losses.
  2. Customer Concentration and Aerospace & Defense Program Risk: A substantial portion of nLight's recent revenue growth is driven by a small number of large customers and specific Aerospace & Defense (A&D) program awards. Any delays in these defense programs, changes in government budgets, or the loss of a key customer relationship could have a material adverse effect on the company's revenue and margins.
  3. Intense Competition and Market Volatility: nLight operates in highly competitive markets for its semiconductor and fiber laser products, facing significant price and technological competition from both established players and those offering conventional or non-laser solutions. This competitive landscape, combined with potentially uneven industrial demand and the risk of average selling price (ASP) pressure, could negatively impact the company's growth and profitability.
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AI Analysis | Feedback

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AI Analysis | Feedback

nLight (LASR) operates in several addressable markets for its semiconductor and fiber lasers, primarily focusing on industrial, microfabrication, and aerospace and defense applications. The company has made a strategic shift to focus increasingly on the defense sector.

The addressable markets for nLight's main products and services are as follows:

  • Global Industrial Lasers Market: This market, which includes applications like macro processing, micro processing, and marking/engraving, was valued at approximately USD 23.9 billion in 2025. It is projected to grow to USD 70.02 billion by 2034, demonstrating a Compound Annual Growth Rate (CAGR) of 12.70% during the forecast period. Asia Pacific held the largest share of this market, at 49.00% in 2025. Another estimate for the global industrial laser systems market indicated a value of USD 6.2 billion in 2025, with a forecast to reach USD 10.5 billion by 2035, growing at a CAGR of 5.5%. The U.S. industrial laser systems market specifically was valued at USD 5 billion in 2025.
  • Global Industrial Pulsed Fiber Laser Market: This segment was estimated to be worth USD 1.65 billion in 2024 and is projected to expand to USD 4.91 billion by 2035, with a CAGR of 10.42% between 2025 and 2035. North America is expected to generate the highest demand in this market.
  • Global Military Laser Weapon Market: This market is projected to reach USD 1.079 billion by 2032. nLight's aerospace and defense segment, which includes high-energy laser systems for directed energy applications, saw revenue of USD 175 million in 2025, marking a 60% annual increase. This segment constituted 67% of nLight's total revenue in 2025.

AI Analysis | Feedback

Here are the 3-5 expected drivers of future revenue growth for nLight (LASR) over the next 2-3 years:

Expected Drivers of Future Revenue Growth for nLight (LASR)

  1. Accelerated Growth in the Aerospace and Defense (A&D) Market: nLight anticipates continued robust growth in its Aerospace and Defense segment, driven by increasing demand for directed energy and laser sensing applications. The company has reported significant year-over-year revenue increases in A&D and is actively executing on substantial contracts, such as the $171 million HELSI-2 program targeting a one-megawatt high-energy laser, with completion anticipated in late 2026. Furthermore, new contract wins in laser sensing markets are expected to contribute to this growth.

  2. Launch and Commercialization of New, High-Power Laser Systems: The development and demonstration of advanced laser weapon systems, such as the new 70kW-class Laser Weapon System, along with 10kW and 30kW High-Energy Lasers, are key drivers for future revenue. These products are designed for critical applications like counter-drone and counter-missile missions, catering to rising military demand.

  3. Strategic Reallocation of Resources to High-Growth, High-Margin Applications: nLight's decision to exit the lower-margin industrial cutting and welding markets, while creating a near-term revenue headwind of approximately $25 million to $30 million in 2026, is a strategic move to focus resources on more lucrative Aerospace & Defense and advanced manufacturing segments. This pivot is expected to significantly boost overall gross margins and channel investment into areas with higher growth potential.

  4. Expansion of Manufacturing Capacity: To support the anticipated ramp-up in directed energy products and meet increasing demand from U.S. Department of Defense programs and allied customers, nLight is expanding its manufacturing capacity, including its facility in Longmont, Colorado. This expansion is crucial for scaling deliveries of high-energy lasers and components, thereby enabling future revenue growth.

AI Analysis | Feedback

Share Repurchases

  • nLight has engaged in share buybacks over the past decade, though specific dollar amounts or future authorizations for the 2021-2025 period were not detailed in the provided information.

Share Issuance

  • In February 2026, nLight completed an underwritten public offering of common stock, raising approximately $175 million in gross proceeds.
  • The underwriters fully exercised their option, generating an additional $26 million and bringing the total gross proceeds from the February 2026 offering to approximately $201 million.
  • The net proceeds from this equity raise, totaling over $190 million, are earmarked for manufacturing expansion, product development, and potential acquisitions, particularly for a new 50,000 sq. ft. manufacturing facility in Colorado.

Capital Expenditures

  • Capital expenditures for the latest twelve months were $10.063 million.
  • From fiscal years ending December 2020 to 2024, nLight's capital expenditures averaged $15.478 million, with a peak of $23.416 million in 2020 and a low of $5.339 million in 2023.
  • The company is actively investing in infrastructure, including a new 50,000 square-foot manufacturing facility in Longmont, Colorado, to expand production capabilities for high-energy lasers for defense applications.

Better Bets vs. nLight (LASR)

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

LASRQCOMFSLRSLABPOWICBRSMedian
NamenLight Qualcomm First So.Silicon .Power In.Cerebras. 
Mkt Price64.55212.97254.80218.6180.73213.67213.32
Mkt Cap3.5227.027.47.24.5-7.2
Rev LTM29044,4875,419821446-821
Op Inc LTM-1511,3941,721-5611-11
FCF LTM2212,5021,6681885-85
FCF 3Y Avg512,15456167-56
CFO LTM3114,2852,45053105-105
CFO 3Y Avg1313,4581,2322387-87

Growth & Margins

LASRQCOMFSLRSLABPOWICBRSMedian
NamenLight Qualcomm First So.Silicon .Power In.Cerebras. 
Rev Chg LTM40.9%5.2%27.3%25.1%3.1%-25.1%
Rev Chg 3Y Avg10.0%3.3%24.7%-3.6%-7.2%-3.3%
Rev Chg Q55.2%-3.5%23.6%20.1%2.6%-20.1%
QoQ Delta Rev Chg LTM10.9%-0.8%3.8%4.6%0.6%-3.8%
Op Inc Chg LTM73.3%-2.3%25.3%59.9%-53.9%-25.3%
Op Inc Chg 3Y Avg21.2%-0.8%231.9%-57.5%-50.2%--0.8%
Op Mgn LTM-5.2%25.6%31.8%-6.8%2.5%-2.5%
Op Mgn 3Y Avg-19.6%26.0%31.7%-14.6%5.0%-5.0%
QoQ Delta Op Mgn LTM4.1%-1.6%1.2%2.2%0.2%-1.2%
CFO/Rev LTM10.7%32.1%45.2%6.4%23.6%-23.6%
CFO/Rev 3Y Avg4.8%33.0%26.2%2.9%20.0%-20.0%
FCF/Rev LTM7.6%28.1%30.8%2.1%18.9%-18.9%
FCF/Rev 3Y Avg1.3%29.8%-2.3%-0.1%15.3%-1.3%

Valuation

LASRQCOMFSLRSLABPOWICBRSMedian
NamenLight Qualcomm First So.Silicon .Power In.Cerebras. 
Mkt Cap3.5227.027.47.24.5-7.2
P/S12.15.15.08.810.0-8.8
P/Op Inc-232.719.915.9-129.7402.5-15.9
P/EBIT-273.418.315.5-171.1402.5-15.5
P/E-237.222.916.4-143.2269.9-16.4
P/CFO112.615.911.2137.242.6-42.6
Total Yield-0.4%6.1%6.1%-0.7%1.4%-1.4%
Dividend Yield0.0%1.7%0.0%0.0%1.1%-0.0%
FCF Yield 3Y Avg-0.9%7.5%-0.7%0.2%2.2%-0.2%
D/E0.00.10.00.00.0-0.0
Net D/E-0.10.0-0.1-0.1-0.1--0.1

Returns

LASRQCOMFSLRSLABPOWICBRSMedian
NamenLight Qualcomm First So.Silicon .Power In.Cerebras. 
1M Rtn-8.9%5.0%9.1%0.9%19.7%-28.0%2.9%
3M Rtn-5.8%63.8%28.8%6.3%75.6%-31.3%17.5%
6M Rtn86.2%24.8%0.3%65.0%125.2%-31.3%44.9%
12M Rtn240.8%40.8%77.1%54.2%50.9%-31.3%52.5%
3Y Rtn322.2%85.3%34.8%37.5%-7.1%-31.3%36.1%
1M Excs Rtn-9.1%4.7%8.8%0.7%19.5%-28.2%2.7%
3M Excs Rtn-17.8%51.8%16.8%-5.7%63.6%-43.3%5.5%
6M Excs Rtn68.0%11.2%-9.3%53.6%114.8%-40.2%32.4%
12M Excs Rtn218.0%15.6%22.4%29.6%22.0%-54.3%22.2%
3Y Excs Rtn264.5%15.1%-41.2%-31.9%-80.8%-102.3%-36.5%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Laser Products179137157193206
Advanced Development8262534964
Corporate and Other0000 
Total261199210242270


Operating Income by Segment
$ Mil2019
Advanced Development0
Laser Products-1
Corporate and Other-9
Total-10


Price Behavior

Price Behavior
Market Price$64.55 
Market Cap ($ Bil)3.5 
First Trading Date04/26/2018 
Distance from 52W High-24.0% 
   50 Days200 Days
DMA Price$71.45$49.34
DMA Trendupup
Distance from DMA-9.7%30.8%
 3M1YR
Volatility90.4%78.9%
Downside Capture460.05302.01
Upside Capture261.31370.33
Correlation (SPY)51.6%50.6%
LASR Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta4.712.723.192.923.091.96
Up Beta0.771.310.541.682.651.81
Down Beta2.863.943.842.753.192.02
Up Capture473%305%591%828%1626%2165%
Bmk +ve Days13283667141432
Stock +ve Days9223572139378
Down Capture858%488%342%223%177%112%
Bmk -ve Days7132757109318
Stock -ve Days11192852109364

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with LASR
LASR254.7%78.8%1.95-
Sector ETF (XLK)54.0%22.9%1.8153.4%
Equity (SPY)24.5%12.4%1.4850.4%
Gold (GLD)24.7%27.5%0.7923.8%
Commodities (DBC)22.7%18.9%0.954.5%
Real Estate (VNQ)10.6%13.8%0.4916.9%
Bitcoin (BTCUSD)-38.7%42.4%-1.0431.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with LASR
LASR19.0%65.3%0.53-
Sector ETF (XLK)22.3%25.2%0.7849.7%
Equity (SPY)13.4%17.1%0.6148.1%
Gold (GLD)16.9%18.3%0.7512.5%
Commodities (DBC)7.5%19.4%0.2910.2%
Real Estate (VNQ)1.9%18.9%0.0031.0%
Bitcoin (BTCUSD)12.3%54.2%0.4224.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with LASR
LASR9.5%66.4%0.45-
Sector ETF (XLK)25.1%24.7%0.9248.8%
Equity (SPY)15.2%18.0%0.7247.1%
Gold (GLD)12.4%16.1%0.638.7%
Commodities (DBC)5.9%18.0%0.2613.5%
Real Estate (VNQ)5.3%20.7%0.2230.9%
Bitcoin (BTCUSD)60.4%66.8%1.0019.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity2.3 Mil
Short Interest: % Change Since 5152026-17.1%
Average Daily Volume1.1 Mil
Days-to-Cover Short Interest2.0 days
Basic Shares Quantity54.1 Mil
Short % of Basic Shares4.2%

Earnings Returns History

Updated 6/10/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/7/202611.7%22.9%0.9%
2/26/2026-10.7%-0.6%2.2%
11/6/202514.7%1.9%27.2%
8/7/202527.7%28.2%39.2%
5/8/202535.5%48.3%104.8%
1/14/2025-10.9%4.3%-6.5%
11/7/2024-23.5%-28.5%-24.2%
8/1/2024-2.9%-3.2%6.4%
...
SUMMARY STATS   
# Positive101112
# Negative121110
Median Positive13.2%15.6%18.6%
Median Negative-8.6%-8.6%-11.4%
Max Positive38.1%48.3%104.8%
Max Negative-23.5%-28.5%-24.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/7/202611.7%22.9%0.9%
2/26/2026-10.7%-0.6%2.2%
11/6/202514.7%1.9%27.2%
8/7/202527.7%28.2%39.2%
5/8/202535.5%48.3%104.8%
1/14/2025-10.9%4.3%-6.5%
11/7/2024-23.5%-28.5%-24.2%
8/1/2024-2.9%-3.2%6.4%
5/2/20245.0%15.6%9.4%
11/2/20235.5%15.6%56.1%
5/4/202338.1%31.9%51.4%
2/23/2023-11.9%-8.6%-23.9%
11/3/2022-11.0%-0.5%1.7%
8/4/2022-2.7%-2.1%-11.5%
5/5/2022-4.0%-17.5%-5.7%
2/17/2022-19.1%-18.6%-6.6%
11/4/2021-6.5%-14.2%-22.4%
8/5/2021-6.2%-14.7%-11.3%
5/6/20213.8%-1.3%9.9%
2/17/2021-1.5%0.5%-14.4%
11/5/202024.8%11.6%39.8%
8/5/20206.1%4.3%-4.6%
SUMMARY STATS   
# Positive101112
# Negative121110
Median Positive13.2%15.6%18.6%
Median Negative-8.6%-8.6%-11.4%
Max Positive38.1%48.3%104.8%
Max Negative-23.5%-28.5%-24.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/27/202610-K
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202402/28/202510-K
09/30/202411/08/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/26/202410-K
09/30/202311/03/202310-Q
06/30/202308/04/202310-Q
03/31/202305/05/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/05/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/27/202610-K
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202402/28/202510-K
09/30/202411/08/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/26/202410-K
09/30/202311/03/202310-Q
06/30/202308/04/202310-Q
03/31/202305/05/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/05/202210-Q
03/31/202205/06/202210-Q
12/31/202102/28/202210-K
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202105/07/202110-Q
12/31/202002/26/202110-K
09/30/202011/06/202010-Q
06/30/202008/06/202010-Q
03/31/202005/07/202010-Q
12/31/201903/09/202010-K
09/30/201911/06/201910-Q
06/30/201908/07/201910-Q

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue75.00 Mil78.00 Mil81.00 Mil6.8% RaisedGuidance: 73.00 Mil for Q1 2026
Q2 2026 Products Revenue 58.00 Mil 7.4% RaisedGuidance: 54.00 Mil for Q1 2026
Q2 2026 Advanced Development Revenue 20.00 Mil 5.3% RaisedGuidance: 19.00 Mil for Q1 2026
Q2 2026 Gross Margin29.0%31.0%33.0%5.1%1.5%RaisedGuidance: 29.5% for Q1 2026
Q2 2026 Products Gross Margin37.0%39.0%41.0%6.8%2.5%RaisedGuidance: 36.5% for Q1 2026
Q2 2026 Advanced Development Gross Margin 8.0% 00AffirmedGuidance: 8.0% for Q1 2026
Q2 2026 Adjusted EBITDA8.00 Mil10.00 Mil12.00 Mil33.3% RaisedGuidance: 7.50 Mil for Q1 2026

Prior: Q4 2025 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue70.00 Mil73.00 Mil76.00 Mil-2.7% LoweredGuidance: 75.00 Mil for Q4 2025
Q1 2026 Laser Products Revenue 54.00 Mil -1.8% LoweredGuidance: 55.00 Mil for Q4 2025
Q1 2026 Advanced Development Revenue 19.00 Mil -5.0% LoweredGuidance: 20.00 Mil for Q4 2025
Q1 2026 Gross Margin27.0%29.5%32.0%00AffirmedGuidance: 29.5% for Q4 2025
Q1 2026 Laser Products Gross Margin34.0%36.5%39.0%00AffirmedGuidance: 36.5% for Q4 2025
Q1 2026 Advanced Development Gross Margin 8.0% 00AffirmedGuidance: 8.0% for Q4 2025
Q1 2026 Adjusted EBITDA5.00 Mil7.50 Mil10.00 Mil-11.8% LoweredGuidance: 8.50 Mil for Q4 2025

Insider Activity

Updated 6/9/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Keeney, Scott HPresident and CEODirectSell605202674.6016,0891,200,266163,007,459Form
2Corso, Joseph JohnChief Financial OfficerDirectSell605202672.903,817278,25912,386,804Form
3Keeney, Scott HPresident and CEODirectSell605202677.998,901694,189171,665,973Form
4Nias, JamesChief Accounting OfficerDirectSell605202677.9994073,3117,613,462Form
5Corso, Joseph JohnChief Financial OfficerDirectSell605202677.993,840299,48213,549,359Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Keeney, Scott HPresident and CEODirectSell605202674.6016,0891,200,266163,007,459Form
2Corso, Joseph JohnChief Financial OfficerDirectSell605202672.903,817278,25912,386,804Form
3Keeney, Scott HPresident and CEODirectSell605202677.998,901694,189171,665,973Form
4Nias, JamesChief Accounting OfficerDirectSell605202677.9994073,3117,613,462Form
5Corso, Joseph JohnChief Financial OfficerDirectSell605202677.993,840299,48213,549,359Form
6Keeney, Scott HPresident and CEODirectSell601202673.3641,3713,034,907162,123,988Form
7Keeney, Scott HPresident and CEODirectSell601202678.6441,3733,253,742177,059,286Form
8Keeney, Scott HPresident and CEODirectSell521202675.1941,3733,111,024172,404,051Form
9Corso, Joseph JohnChief Financial OfficerDirectSell521202670.4035,4762,497,58612,501,448Form
10Nias, JamesChief Accounting OfficerDirectSell521202671.0941529,5027,006,701Form
11Keeney, Scott HPresident and CEODirectSell521202670.4041,3732,912,745164,328,699Form
12Corso, Joseph JohnChief Financial OfficerDirectSell521202668.4820,2431,386,24114,589,527Form
13Nias, JamesChief Accounting OfficerDirectSell521202668.481,618110,8016,777,876Form
14Keeney, Scott HPresident and CEODirectSell521202668.4846,7353,200,413162,675,541Form
15Corso, Joseph JohnChief Financial OfficerDirectSell519202670.8219,5751,386,30116,521,669Form
16Nias, JamesChief Accounting OfficerDirectSell519202670.821,565110,8337,124,067Form
17Keeney, Scott HPresident and CEODirectSell519202670.8245,1913,200,427171,544,028Form
18Corso, Joseph JohnChief Financial OfficerDirectSell519202675.1618,4451,386,32618,974,217Form
19Nias, JamesChief Accounting OfficerDirectSell519202675.161,487111,7637,647,079Form
20Keeney, Scott HPresident and CEODirectSell519202675.1642,5843,200,613185,453,166Form
21Link, Raymond A DirectSell313202663.286,644420,4324,883,444Form
22Link, Raymond A DirectSell313202664.428,760564,3195,399,427Form
23Nias, JamesChief Accounting OfficerDirectSell313202664.421,808116,4716,048,974Form
24Link, Raymond A DirectSell313202662.7910,000627,9005,812,847Form
25Keeney, Scott HPresident and CEODirectSell311202658.8019,0961,122,755129,939,361Form
26Corso, Joseph JohnChief Financial OfficerDirectSell309202660.3912,290742,19310,320,409Form
27Keeney, Scott HPresident and CEODirectSell309202660.5323,6561,431,876134,926,850Form
28Nias, JamesChief Accounting OfficerDirectSell309202661.963,249201,3085,930,006Form
29Corso, Joseph JohnChief Financial OfficerDirectSell309202661.9613,038807,83411,350,205Form
30Keeney, Scott HPresident and CEODirectSell309202661.9632,2391,997,528139,582,311Form
31Keeney, Scott HPresident and CEODirectSell108202637.5131,7481,190,86785,711,100Form
32Corso, Joseph JohnChief Financial OfficerDirectSell1217202536.3266,0752,399,6847,126,382Form
33Keeney, Scott HPresident and CEODirectSell1205202535.6615,371548,12081,482,325Form
34Nias, JamesChief Accounting OfficerDirectSell1205202533.7855618,7823,342,734Form
35Corso, Joseph JohnChief Financial OfficerDirectSell1205202533.784,127139,4108,860,460Form
36Keeney, Scott HPresident and CEODirectSell1205202533.789,625325,13277,707,208Form
37Nias, JamesChief Accounting OfficerDirectSell1125202530.001,20036,0002,985,360Form
38Link, Raymond A DirectSell1113202535.3312,560443,7453,624,010Form
39Keeney, Scott HPresident and CEODirectSell922202530.9962,5071,936,78471,855,568Form
40Keeney, Scott HPresident and CEODirectSell916202528.8415,391443,87668,683,758Form
41Corso, Joseph JohnChief Financial OfficerDirectSell908202529.733,588106,6717,890,877Form
42Corso, Joseph JohnChief Financial OfficerDirectSell908202529.144,112119,8247,838,835Form
43Keeney, Scott HPresident and CEODirectSell908202529.149,604279,86169,846,715Form
44Nias, JamesChief Accounting OfficerDirectSell908202529.1454015,7362,905,375Form
45Keeney, Scott HPresident and CEODirectSell829202529.6335,7301,058,68071,305,780Form
46Keeney, Scott HPresident and CEODirectSell829202528.7735,7321,028,01070,264,108Form
47Keeney, Scott HPresident and CEODirectSell827202529.2035,7321,043,48172,365,043Form
48Corso, Joseph JohnChief Financial OfficerDirectSell827202528.2938,2841,083,2407,727,836Form
49Keeney, Scott HPresident and CEODirectSell827202528.2935,7321,010,93671,118,993Form
50Nias, JamesChief Accounting OfficerDirectSell822202528.3359316,8002,839,913Form
51Corso, Joseph JohnChief Financial OfficerDirectSell822202528.338,007226,8388,822,019Form
52Keeney, Scott HPresident and CEODirectSell822202528.3317,018482,12072,226,372Form
53Nias, JamesChief Accounting OfficerDirectSell822202526.4955514,7022,671,172Form
54Corso, Joseph JohnChief Financial OfficerDirectSell822202526.498,619228,3178,461,144Form
55Keeney, Scott HPresident and CEODirectSell822202526.4918,200482,11867,986,161Form
56Nias, JamesChief Accounting OfficerDirectSell822202525.6757214,6832,602,733Form
57Corso, Joseph JohnChief Financial OfficerDirectSell822202525.678,894228,3098,420,479Form
58Keeney, Scott HPresident and CEODirectSell822202525.6718,782482,13466,348,838Form
59Corso, Joseph JohnChief Financial OfficerDirectSell820202526.288,449222,0408,854,310Form
60Nias, JamesChief Accounting OfficerDirectSell820202526.2855914,6912,679,614Form
61Keeney, Scott HPresident and CEODirectSell820202526.2818,344482,08068,419,086Form
62Corso, Joseph JohnChief Financial OfficerDirectSell820202526.695,991159,9009,217,952Form
63Nias, JamesChief Accounting OfficerDirectSell820202526.6955914,9202,736,339Form
64Keeney, Scott HPresident and CEODirectSell820202526.6918,064482,12869,976,109Form
65Nias, JamesChief Accounting OfficerDirectSell815202526.731,11329,7502,755,382Form
66Keeney, Scott HPresident and CEODirectSell630202519.5333,682657,80923,563,726Form
67Keeney, Scott HPresident and CEODirectSell623202519.136,316120,82523,725,447Form
68Keeney, Scott HPresident and CEODirectSell618202519.1830,939593,41023,908,599Form
69Keeney, Scott HPresident and CEODirectSell618202519.014,06377,23824,284,838Form
70Corso, Joseph JohnChief Financial OfficerDirectSell617202517.6210,062177,2922,931,298Form
Core Cache Last Updated: 6/17/2026