nLIGHT, Inc.
Rank #388HypergrowthLASR · Nasdaq · Technology
nLIGHT, Inc. (LASR) — Rank #388 by gross profitability (GP/assets 0.15) · ROE -5.3% · Piotroski F-Score N/A.
As-of 2026-09-28 · CIK 0001124796 · all metrics point-in-time as of the filing date.
About
nLIGHT, Inc. engages in the design, development, manufacture, and sale of semiconductor and fiber lasers for aerospace and defense, industrial, and microfabrication applications.
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It operates through two segments, Laser Products and Advanced Development. The company offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in aerospace and defense and industrial applications. It also provides fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications. The company sells its products through direct sales force in the United States, China, South Korea, and European countries, as well as through independent sales representatives and distributors in Asia, Australia, Europe, the Middle East, and South America. The company was formerly known as nLight Photonics Corporation and changed its name to nLIGHT, Inc. in January 2016. nLIGHT, Inc.
was incorporated in 2000 and is headquartered in Camas, Washington.
- Industry
- Semiconductors
- Sector
- Technology
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- nlight.net
Company Snapshot
P/S is the primary valuation lens — earnings are reinvested, not available for P/E.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
800
Industry
Semiconductors
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 0/5 Terry Smith thresholds2 of 5 thresholds not computable from filed data.
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.15
Primary signal (Novy-Marx).
10th pctl of 21 SIC 3674 peers
Return on equity
-5.3%
Gross margin
29.8%
0th pctl of 21 SIC 3674 peers
Revenue growth (YoY)
31.6%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
2.6%
Revenue CAGR (5Y)
3.2%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.18
84th pctl of 20 SIC 3674 peers (best = lowest)
Current ratio
8.17×
95th pctl of 21 SIC 3674 peers
Quick ratio
6.89×
Net cash
$330.45M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$12.30M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
1.52
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
12.8%
Stock-based comp intensity.
Piotroski F-Score
F-Score
N/A
Only 8/9 components determinable.