<general_context>
	- Current date: 2026-11-06 19:25 UTC.
</general_context>
<company_context>
	- Ticker: LASR.
	- Company: Nlight.
</company_context>


                <data>
                    <label>Press release on Q3 2026 financial results</label>
                    <content>[IMAGE: nlightlogoa15.jpg | Source: nlightlogoa15.jpg]
**Exhibit 99.1**
**nLIGHT, Inc. Announces Third Quarter 2026 Results**
*Solid Execution and Continued Strength in Defense Drives Quarterly Results*
**CAMAS** ***,*** **Wash** ***.,*** **November 5, 2026** - nLIGHT, Inc. \(Nasdaq: LASR\), a leading provider of high-power lasers for mission critical directed energy, optical sensing, and advanced manufacturing applications, today reported financial results for the third quarter of 2026.
"Solid execution during the third quarter enabled us to deliver revenue above the high end of our guidance range, record product gross margins and strong Adjusted EBITDA despite ongoing supply constraints,” commented Scott Keeney, nLIGHT’s Chairman and Chief Executive Officer. “Demand for our products remains strong and our pipeline of opportunities continues to expand across directed energy, laser sensing and advanced manufacturing. We are making important investments in our manufacturing capacity and supply chain to support this expected growth, and we believe nLIGHT is well positioned as our defense programs increasingly transition from development toward fielding and production.”
**Third Quarter 2026 Financial Highlights**
|  |  |  | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* |  |  |  |  |  |  |
| \*\*\\\(In thousands, except percentages\\\)\*\* | \*\*\\\(In thousands, except percentages\\\)\*\* | \*\*\\\(In thousands, except percentages\\\)\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |  |  |  | \*\*% Change\*\* | \*\*% Change\*\* | \*\*% Change\*\* |
| Revenues | Revenues | Revenues | $ | 73,763  |  |  |  |  | $ | 66,742  |  |  |  |  | 10.5  | 10.5  | % |
| Gross margin | Gross margin | Gross margin | 33.1  | 33.1  | % |  |  |  | 31.1  | 31.1  | % |  |  |  |  |  |  |
| Loss from operations | Loss from operations | Loss from operations | $ | \\\(9,219\\\) |  |  |  |  | $ | \\\(7,299\\\) |  |  |  |  | \\\(26.3\\\) | \\\(26.3\\\) | % |
| Operating margin | Operating margin | Operating margin | \\\(12.5\\\) | \\\(12.5\\\) | % |  |  |  | \\\(10.9\\\) | \\\(10.9\\\) | % |  |  |  |  |  |  |
| Net loss | Net loss | Net loss | $ | \\\(7,176\\\) |  |  |  |  | $ | \\\(6,874\\\) |  |  |  |  | \\\(4.4\\\) | \\\(4.4\\\) | % |
| Adjusted EBITDA \\\(1\\\)<br><br> | Adjusted EBITDA \\\(1\\\)<br><br> | Adjusted EBITDA \\\(1\\\)<br><br> | $ | 11,050  |  |  |  |  | $ | 7,109  |  |  |  |  | 55.4  | 55.4  | % |
| \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> | \\\(1\\\)  A reconciliation of the non-GAAP metrics presented here to the most directly comparable GAAP metric has been provided in the tables included at the end of this release.<br><br>\\\* Not meaningful<br><br> |
Revenues of $73.8 million for the third quarter of 2026 were up 10.5% compared to $66.7 million for the third quarter of 2025. Gross margin was 33.1% for the third quarter of 2026 compared to 31.1% for the third quarter of 2025. GAAP net loss for the third quarter of 2026 was $7.2 million, or $0.12 per diluted share, compared to net loss of $6.9 million, or $0.14 per diluted share, for the third quarter of 2025. Non-GAAP net income for the third quarter of 2026 was $10.2 million, or $0.16 per diluted share, compared to non-GAAP net income of $4.3 million, or $0.08 per diluted share, for the third quarter of 2025. Reconciliations of the non-GAAP metrics presented here to the most directly comparable GAAP metric have been provided in the tables included at the end of this release.
**Outlook**
For the fourth quarter of 2026, nLIGHT expects revenues to be in the range of $84 million to $90 million. The midpoint of $87 million includes Products revenue of approximately $63 million and Advanced Development revenue of approximately $24 million. Due to ongoing supply chain constraints, nLIGHT’s fourth quarter revenue guidance excludes approximately $15 million of product revenue that nLIGHT would have expected to ship in the fourth quarter but is now expected to be delivered in the first half of 2027.
nLIGHT expects overall gross margin to be in the range of 30% to 36%, with Products gross margin in the range of 40% to 46% and Advanced Development gross margin of approximately 8%. nLIGHT expects Adjusted EBITDA to be in the range of $12 million to $18 million.
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.
---
**Investor Webcast at 2:00 p.m. Pacific Time, Thursday, November 5, 2026**
A webcast to discuss the third quarter results will be held on Thursday, November 5, 2026, at 2:00 p.m. Pacific Time \(5:00 p.m. Eastern Time\). The audio webcast will be available on the investor relations section of the company's web site at [COLOR: #0070c0]http://investors.nlight.net[/COLOR] . A replay of the webcast will be available shortly after the conclusion of the call.
The webcast can also be accessed directly at [COLOR: #0070c0]https://events.q4inc.com/attendee/340012307[/COLOR] .
**Use of Non-GAAP Financial Results**
In addition to U.S. GAAP results, this press release contains non-GAAP financial results, including non-GAAP gross margin, Adjusted EBITDA, non-GAAP net income \(loss\) and non-GAAP net income \(loss\) per share, basic and diluted. We use Adjusted EBITDA to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. In addition to our results determined in accordance with GAAP, we believe Adjusted EBITDA is a meaningful measure of performance as it is commonly utilized by us and the investment community to analyze operating performance in our industry. Similarly, we believe that providing non-GAAP gross margin, non-GAAP net income \(loss\) and non-GAAP net income \(loss\) per share, basic and diluted, is useful to our investors as they present an informative supplemental view of our results from period to period by removing the effect of stock-based compensation expense and other non-recurring items. However, the non-GAAP metrics presented herein are specific to us and may not be comparable to similar metrics disclosed by other companies because of differing methods used by other companies in calculating them.
We define Adjusted EBITDA as net income \(loss\) adjusted for income tax expense \(benefit\), other non-operating income or expense, interest income or expense, depreciation and amortization, stock-based compensation, acquisition and integration-related costs, and other non-recurring items as determined by management, as applicable. We define non-GAAP gross margin as GAAP gross margin adjusted for stock-based compensation and other non-recurring items as determined by management, as applicable. We define non-GAAP net income \(loss\) as GAAP net income \(loss\) adjusted for stock-based compensation, amortization of purchased intangibles, acquisition and integration-related costs, and other non-recurring items as determined by management, as applicable. We define non-GAAP net income \(loss\) per share, basic and diluted, as non-GAAP net income \(loss\) divided by the weighted-average number of shares outstanding during the respective period plus the dilutive effect of any common stock equivalents during the period in the case of non-GAAP net income \(loss\) per share, diluted.
Tables presenting the reconciliation of net loss to Adjusted EBITDA, as well as the reconciliation of GAAP to non-GAAP gross margin, GAAP to non-GAAP net income \(loss\) and GAAP to non-GAAP net income \(loss\) per share, basic and diluted, are included at the end of this press release.
**Safe Harbor Statement**
Certain statements in this release 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 opportunities to grow our business, ongoing supply chain challenges, 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 or 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.
The nLIGHT logo and “nLIGHT” are registered trademarks or trademarks of nLIGHT, Inc. in various jurisdictions.
**About nLIGHT**
nLIGHT, Inc. is a leading provider of high-power lasers for mission critical directed energy, optical sensing, and advanced manufacturing  applications. Headquartered in Camas, Washington, nLIGHT employs more than 900 people with operations in the United States, Europe and Asia. The company’s vertically integrated approach enables performance leadership from laser chip through system-level solutions. For more information, please visit [COLOR: #0070c0]<u>www.nlight.net</u>[/COLOR] .
**For more information, contact:**
John Marchetti
Vice President, Corporate Development & Investor Relations
nLIGHT, Inc.
1. \(360\) 566-4460
john.marchetti@nlight.net
---
**nLIGHT, Inc.**
Consolidated Statements of Operations
\(In thousands, except per share data\)
\(Unaudited\)
|  |  |  | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* |  |  |  | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* |
|  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |
| Revenue: | Revenue: | Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Products | Products | Products | $ | 48,047  |  |  |  |  | $ | 47,608  |  |  |  |  | $ | 165,612  |  |  |  |  | $ | 124,110  |  |
| Development | Development | Development | 25,716  | 25,716  |  |  |  |  | 19,134  | 19,134  |  |  |  |  | 70,923  | 70,923  |  |  |  |  | 56,035  | 56,035  |  |
| Total revenue | Total revenue | Total revenue | 73,763  | 73,763  |  |  |  |  | 66,742  | 66,742  |  |  |  |  | 236,535  | 236,535  |  |  |  |  | 180,145  | 180,145  |  |
| Cost of revenue: | Cost of revenue: | Cost of revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Products | Products | Products | 25,289  | 25,289  |  |  |  |  | 28,086  | 28,086  |  |  |  |  | 93,028  | 93,028  |  |  |  |  | 76,915  | 76,915  |  |
| Development | Development | Development | 24,043  | 24,043  |  |  |  |  | 17,903  | 17,903  |  |  |  |  | 66,838  | 66,838  |  |  |  |  | 50,221  | 50,221  |  |
| Total cost of revenue \\\(1\\\)<br><br> | Total cost of revenue \\\(1\\\)<br><br> | Total cost of revenue \\\(1\\\)<br><br> | 49,332  | 49,332  |  |  |  |  | 45,989  | 45,989  |  |  |  |  | 159,866  | 159,866  |  |  |  |  | 127,136  | 127,136  |  |
| Gross profit | Gross profit | Gross profit | 24,431  | 24,431  |  |  |  |  | 20,753  | 20,753  |  |  |  |  | 76,669  | 76,669  |  |  |  |  | 53,009  | 53,009  |  |
| Operating expenses: | Operating expenses: | Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Research and development \\\(1\\\)<br><br> | Research and development \\\(1\\\)<br><br> | Research and development \\\(1\\\)<br><br> | 12,535  | 12,535  |  |  |  |  | 11,534  | 11,534  |  |  |  |  | 37,511  | 37,511  |  |  |  |  | 33,920  | 33,920  |  |
| Sales, general, and administrative \\\(1\\\)<br><br> | Sales, general, and administrative \\\(1\\\)<br><br> | Sales, general, and administrative \\\(1\\\)<br><br> | 13,653  | 13,653  |  |  |  |  | 14,785  | 14,785  |  |  |  |  | 44,906  | 44,906  |  |  |  |  | 38,501  | 38,501  |  |
| Restructuring | Restructuring | Restructuring | 7,462  | 7,462  |  |  |  |  | 1,733  | 1,733  |  |  |  |  | 7,757  | 7,757  |  |  |  |  | 1,733  | 1,733  |  |
| Total operating expenses | Total operating expenses | Total operating expenses | 33,650  | 33,650  |  |  |  |  | 28,052  | 28,052  |  |  |  |  | 90,174  | 90,174  |  |  |  |  | 74,154  | 74,154  |  |
| Loss from operations | Loss from operations | Loss from operations | \\\(9,219\\\) | \\\(9,219\\\) |  |  |  |  | \\\(7,299\\\) | \\\(7,299\\\) |  |  |  |  | \\\(13,505\\\) | \\\(13,505\\\) |  |  |  |  | \\\(21,145\\\) | \\\(21,145\\\) |  |
| Other income: | Other income: | Other income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest income | Interest income | Interest income | 2,456  | 2,456  |  |  |  |  | 1,079  | 1,079  |  |  |  |  | 6,492  | 6,492  |  |  |  |  | 3,875  | 3,875  |  |
| Interest expense | Interest expense | Interest expense | \\\(25\\\) | \\\(25\\\) |  |  |  |  | \\\(317\\\) | \\\(317\\\) |  |  |  |  | \\\(529\\\) | \\\(529\\\) |  |  |  |  | \\\(753\\\) | \\\(753\\\) |  |
| Other income \\\(expense\\\), net | Other income \\\(expense\\\), net | Other income \\\(expense\\\), net | \\\(72\\\) | \\\(72\\\) |  |  |  |  | \\\(64\\\) | \\\(64\\\) |  |  |  |  | 116  | 116  |  |  |  |  | \\\(108\\\) | \\\(108\\\) |  |
| Loss before income taxes | Loss before income taxes | Loss before income taxes | \\\(6,860\\\) | \\\(6,860\\\) |  |  |  |  | \\\(6,601\\\) | \\\(6,601\\\) |  |  |  |  | \\\(7,426\\\) | \\\(7,426\\\) |  |  |  |  | \\\(18,131\\\) | \\\(18,131\\\) |  |
| Income tax expense | Income tax expense | Income tax expense | 316  | 316  |  |  |  |  | 273  | 273  |  |  |  |  | 444  | 444  |  |  |  |  | 427  | 427  |  |
| Net loss | Net loss | Net loss | $ | \\\(7,176\\\) |  |  |  |  | $ | \\\(6,874\\\) |  |  |  |  | $ | \\\(7,870\\\) |  |  |  |  | $ | \\\(18,558\\\) |  |
| Net loss per share, basic and diluted | Net loss per share, basic and diluted | Net loss per share, basic and diluted | $ | \\\(0.12\\\) |  |  |  |  | $ | \\\(0.14\\\) |  |  |  |  | $ | \\\(0.14\\\) |  |  |  |  | $ | \\\(0.37\\\) |  |
| Shares used in per share calculations: | Shares used in per share calculations: | Shares used in per share calculations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Basic and diluted | Basic and diluted | Basic and diluted | 57,895  | 57,895  |  |  |  |  | 50,288  | 50,288  |  |  |  |  | 56,346  | 56,346  |  |  |  |  | 49,658  | 49,658  |  |
1. | \\\(1\\\) Includes stock-based compensation as follows:<br><br> | \\\(1\\\) Includes stock-based compensation as follows:<br><br> | \\\(1\\\) Includes stock-based compensation as follows:<br><br> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
    |  |  |  | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* |  |  |  | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* |
    |  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |
    | Cost of revenues | Cost of revenues | Cost of revenues | $ | 1,156  |  |  |  |  | $ | 615  |  |  |  |  | $ | 3,427  |  |  |  |  | $ | 1,783  |  |
    | Research and development | Research and development | Research and development | 2,496  | 2,496  |  |  |  |  | 2,560  | 2,560  |  |  |  |  | 7,439  | 7,439  |  |  |  |  | 6,178  | 6,178  |  |
    | Sales, general, and administrative | Sales, general, and administrative | Sales, general, and administrative | 6,263  | 6,263  |  |  |  |  | 6,187  | 6,187  |  |  |  |  | 20,898  | 20,898  |  |  |  |  | 13,828  | 13,828  |  |
    |  |  |  | $ | 9,915  |  |  |  |  | $ | 9,362  |  |  |  |  | $ | 31,764  |  |  |  |  | $ | 21,789  |  |
---
**nLIGHT, Inc.**
Condensed Consolidated Balance Sheets
\(In thousands\)
\(Unaudited\)
|  |  |  | \*\*As of\*\* | \*\*As of\*\* | \*\*As of\*\* | \*\*As of\*\* | \*\*As of\*\* | \*\*As of\*\* | \*\*As of\*\* | \*\*As of\*\* | \*\*As of\*\* |  |  |  |  |  |  |
|  |  |  | \*\*September 30, 2026\*\* | \*\*September 30, 2026\*\* | \*\*September 30, 2026\*\* |  |  |  | \*\*December 31, 2025\*\* | \*\*December 31, 2025\*\* | \*\*December 31, 2025\*\* |  |  |  |  |  |  |
| \*\*Assets\*\* | \*\*Assets\*\* | \*\*Assets\*\* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Current assets: | Current assets: | Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|      Cash and cash equivalents |      Cash and cash equivalents |      Cash and cash equivalents | $ | 279,371  |  |  |  |  | $ | 98,699  |  |  |  |  |  |  |  |
|      Marketable securities |      Marketable securities |      Marketable securities | 34,832  | 34,832  |  |  |  |  | 34,934  | 34,934  |  |  |  |  |  |  |  |
|      Accounts receivable, net |      Accounts receivable, net |      Accounts receivable, net | 45,329  | 45,329  |  |  |  |  | 50,836  | 50,836  |  |  |  |  |  |  |  |
|      Inventory |      Inventory |      Inventory | 59,840  | 59,840  |  |  |  |  | 45,407  | 45,407  |  |  |  |  |  |  |  |
|      Prepaid expenses and other current assets |      Prepaid expenses and other current assets |      Prepaid expenses and other current assets | 35,127  | 35,127  |  |  |  |  | 13,314  | 13,314  |  |  |  |  |  |  |  |
|           Total current assets |           Total current assets |           Total current assets | 454,499  | 454,499  |  |  |  |  | 243,190  | 243,190  |  |  |  |  |  |  |  |
| Restricted cash | Restricted cash | Restricted cash | 322  | 322  |  |  |  |  | 322  | 322  |  |  |  |  |  |  |  |
| Lease right-of-use assets | Lease right-of-use assets | Lease right-of-use assets | 17,868  | 17,868  |  |  |  |  | 15,020  | 15,020  |  |  |  |  |  |  |  |
| Property, plant and equipment, net | Property, plant and equipment, net | Property, plant and equipment, net | 43,902  | 43,902  |  |  |  |  | 42,114  | 42,114  |  |  |  |  |  |  |  |
| Goodwill | Goodwill | Goodwill | 12,420  | 12,420  |  |  |  |  | 12,448  | 12,448  |  |  |  |  |  |  |  |
| Other assets, net | Other assets, net | Other assets, net | 1,061  | 1,061  |  |  |  |  | 2,116  | 2,116  |  |  |  |  |  |  |  |
|           Total assets |           Total assets |           Total assets | $ | 530,072  |  |  |  |  | $ | 315,210  |  |  |  |  |  |  |  |
| \*\*Liabilities and Stockholders’ Equity\*\* | \*\*Liabilities and Stockholders’ Equity\*\* | \*\*Liabilities and Stockholders’ Equity\*\* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Current liabilities: | Current liabilities: | Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|      Accounts payable |      Accounts payable |      Accounts payable | $ | 23,331  |  |  |  |  | $ | 20,890  |  |  |  |  |  |  |  |
|      Accrued liabilities |      Accrued liabilities |      Accrued liabilities | 23,403  | 23,403  |  |  |  |  | 19,052  | 19,052  |  |  |  |  |  |  |  |
|      Deferred revenues |      Deferred revenues |      Deferred revenues | 9,880  | 9,880  |  |  |  |  | 1,489  | 1,489  |  |  |  |  |  |  |  |
|      Current portion of lease liabilities |      Current portion of lease liabilities |      Current portion of lease liabilities | 2,362  | 2,362  |  |  |  |  | 2,776  | 2,776  |  |  |  |  |  |  |  |
|      Line of credit |      Line of credit |      Line of credit | —  | —  |  |  |  |  | 20,000  | 20,000  |  |  |  |  |  |  |  |
|           Total current liabilities |           Total current liabilities |           Total current liabilities | 58,976  | 58,976  |  |  |  |  | 64,207  | 64,207  |  |  |  |  |  |  |  |
| Non-current income taxes payable | Non-current income taxes payable | Non-current income taxes payable | 6,022  | 6,022  |  |  |  |  | 5,902  | 5,902  |  |  |  |  |  |  |  |
| Long-term lease liabilities | Long-term lease liabilities | Long-term lease liabilities | 16,890  | 16,890  |  |  |  |  | 13,431  | 13,431  |  |  |  |  |  |  |  |
| Other long-term liabilities | Other long-term liabilities | Other long-term liabilities | 4,846  | 4,846  |  |  |  |  | 4,921  | 4,921  |  |  |  |  |  |  |  |
|      Total liabilities |      Total liabilities |      Total liabilities | 86,734  | 86,734  |  |  |  |  | 88,461  | 88,461  |  |  |  |  |  |  |  |
| Stockholders' equity: | Stockholders' equity: | Stockholders' equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|      Common stock - par value |      Common stock - par value |      Common stock - par value | 17  | 17  |  |  |  |  | 16  | 16  |  |  |  |  |  |  |  |
|      Additional paid-in capital |      Additional paid-in capital |      Additional paid-in capital | 803,128  | 803,128  |  |  |  |  | 578,360  | 578,360  |  |  |  |  |  |  |  |
|      Accumulated other comprehensive loss |      Accumulated other comprehensive loss |      Accumulated other comprehensive loss | \\\(3,374\\\) | \\\(3,374\\\) |  |  |  |  | \\\(3,064\\\) | \\\(3,064\\\) |  |  |  |  |  |  |  |
|      Accumulated deficit |      Accumulated deficit |      Accumulated deficit | \\\(356,433\\\) | \\\(356,433\\\) |  |  |  |  | \\\(348,563\\\) | \\\(348,563\\\) |  |  |  |  |  |  |  |
|           Total stockholders’ equity |           Total stockholders’ equity |           Total stockholders’ equity | 443,338  | 443,338  |  |  |  |  | 226,749  | 226,749  |  |  |  |  |  |  |  |
|           Total liabilities and stockholders’ equity |           Total liabilities and stockholders’ equity |           Total liabilities and stockholders’ equity | $ | 530,072  |  |  |  |  | $ | 315,210  |  |  |  |  |  |  |  |
---
**nLIGHT, Inc.**
Consolidated Statements of Cash Flows
\(In thousands\) \(Unaudited\) |  |  |  | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash flows from operating activities: | Cash flows from operating activities: | Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net loss | Net loss | Net loss | $ | \\\(7,870\\\) |  |  |  |  | $ | \\\(18,558\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Adjustments to reconcile net loss to net cash used in operating activities: | Adjustments to reconcile net loss to net cash used in operating activities: | Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Depreciation | Depreciation | Depreciation | 9,182  | 9,182  |  |  |  |  | 9,151  | 9,151  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Amortization | Amortization | Amortization | 414  | 414  |  |  |  |  | 1,247  | 1,247  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| \\\(Increase\\\) reduction in carrying amount of right-of-use assets | \\\(Increase\\\) reduction in carrying amount of right-of-use assets | \\\(Increase\\\) reduction in carrying amount of right-of-use assets | \\\(3,002\\\) | \\\(3,002\\\) |  |  |  |  | 784  | 784  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Provision for losses on \\\(recoveries of\\\) accounts receivable | Provision for losses on \\\(recoveries of\\\) accounts receivable | Provision for losses on \\\(recoveries of\\\) accounts receivable | 17  | 17  |  |  |  |  | \\\(1,131\\\) | \\\(1,131\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Stock-based compensation | Stock-based compensation | Stock-based compensation | 31,764  | 31,764  |  |  |  |  | 21,789  | 21,789  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Deferred income taxes | Deferred income taxes | Deferred income taxes | 258  | 258  |  |  |  |  | 101  | 101  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Loss on disposal of property, plant and equipment | Loss on disposal of property, plant and equipment | Loss on disposal of property, plant and equipment | —  | —  |  |  |  |  | 190  | 190  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gain on sale of subsidiary | Gain on sale of subsidiary | Gain on sale of subsidiary | \\\(9\\\) | \\\(9\\\) |  |  |  |  | —  | —  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest earned on marketable securities not yet received | Interest earned on marketable securities not yet received | Interest earned on marketable securities not yet received | \\\(678\\\) | \\\(678\\\) |  |  |  |  | \\\(256\\\) | \\\(256\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-cash restructuring charges | Non-cash restructuring charges | Non-cash restructuring charges | 4,818  | 4,818  |  |  |  |  | 1,243  | 1,243  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Changes in operating assets and liabilities: | Changes in operating assets and liabilities: | Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accounts receivable, net | Accounts receivable, net | Accounts receivable, net | 3,554  | 3,554  |  |  |  |  | \\\(13,186\\\) | \\\(13,186\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Inventory | Inventory | Inventory | \\\(15,060\\\) | \\\(15,060\\\) |  |  |  |  | \\\(10,203\\\) | \\\(10,203\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Prepaid expenses and other current assets | Prepaid expenses and other current assets | Prepaid expenses and other current assets | \\\(21,772\\\) | \\\(21,772\\\) |  |  |  |  | 5,914  | 5,914  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other assets, net | Other assets, net | Other assets, net | 399  | 399  |  |  |  |  | 1,099  | 1,099  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accounts payable | Accounts payable | Accounts payable | 2,288  | 2,288  |  |  |  |  | 1,886  | 1,886  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accrued and other long-term liabilities | Accrued and other long-term liabilities | Accrued and other long-term liabilities | 1,543  | 1,543  |  |  |  |  | 5,795  | 5,795  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Deferred revenues | Deferred revenues | Deferred revenues | 8,395  | 8,395  |  |  |  |  | \\\(1,247\\\) | \\\(1,247\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Lease liabilities | Lease liabilities | Lease liabilities | 3,077  | 3,077  |  |  |  |  | \\\(927\\\) | \\\(927\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-current income taxes payable | Non-current income taxes payable | Non-current income taxes payable | \\\(36\\\) | \\\(36\\\) |  |  |  |  | 121  | 121  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net cash provided by operating activities | Net cash provided by operating activities | Net cash provided by operating activities | 17,282  | 17,282  |  |  |  |  | 3,812  | 3,812  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash flows from investing activities: | Cash flows from investing activities: | Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Proceeds from sale of fixed assets | Proceeds from sale of fixed assets | Proceeds from sale of fixed assets | —  | —  |  |  |  |  | 447  | 447  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Purchases of property, plant and equipment | Purchases of property, plant and equipment | Purchases of property, plant and equipment | \\\(11,407\\\) | \\\(11,407\\\) |  |  |  |  | \\\(7,444\\\) | \\\(7,444\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Purchase of marketable securities | Purchase of marketable securities | Purchase of marketable securities | \\\(43,988\\\) | \\\(43,988\\\) |  |  |  |  | \\\(68,697\\\) | \\\(68,697\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Proceeds from maturities and sales of marketable securities | Proceeds from maturities and sales of marketable securities | Proceeds from maturities and sales of marketable securities | 44,742  | 44,742  |  |  |  |  | 68,425  | 68,425  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Proceeds from sale of subsidiary, net of cash disposed | Proceeds from sale of subsidiary, net of cash disposed | Proceeds from sale of subsidiary, net of cash disposed | 396  | 396  |  |  |  |  | —  | —  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net cash used in investing activities | Net cash used in investing activities | Net cash used in investing activities | \\\(10,257\\\) | \\\(10,257\\\) |  |  |  |  | \\\(7,269\\\) | \\\(7,269\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash flows from financing activities: | Cash flows from financing activities: | Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Proceeds from public offering, net of underwriting discounts | Proceeds from public offering, net of underwriting discounts | Proceeds from public offering, net of underwriting discounts | 192,194  | 192,194  |  |  |  |  | —  | —  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Public offering costs | Public offering costs | Public offering costs | \\\(919\\\) | \\\(919\\\) |  |  |  |  | —  | —  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Proceeds from line of credit | Proceeds from line of credit | Proceeds from line of credit | —  | —  |  |  |  |  | 20,000  | 20,000  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Repayments of line of credit | Repayments of line of credit | Repayments of line of credit | \\\(20,000\\\) | \\\(20,000\\\) |  |  |  |  | —  | —  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Proceeds from employee stock plan purchases | Proceeds from employee stock plan purchases | Proceeds from employee stock plan purchases | 1,668  | 1,668  |  |  |  |  | 1,385  | 1,385  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Proceeds from stock option exercises | Proceeds from stock option exercises | Proceeds from stock option exercises | 836  | 836  |  |  |  |  | 196  | 196  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Tax payments related to stock award issuances | Tax payments related to stock award issuances | Tax payments related to stock award issuances | \\\(190\\\) | \\\(190\\\) |  |  |  |  | \\\(3,062\\\) | \\\(3,062\\\) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net cash provided by financing activities | Net cash provided by financing activities | Net cash provided by financing activities | 173,589  | 173,589  |  |  |  |  | 18,519  | 18,519  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Effect of exchange rate changes on cash | Effect of exchange rate changes on cash | Effect of exchange rate changes on cash | 58  | 58  |  |  |  |  | 278  | 278  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net increase \\\(decrease\\\) in cash, cash equivalents and restricted cash | Net increase \\\(decrease\\\) in cash, cash equivalents and restricted cash | Net increase \\\(decrease\\\) in cash, cash equivalents and restricted cash | 180,672  | 180,672  |  |  |  |  | 15,340  | 15,340  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and cash equivalents and restricted cash, beginning of period | Cash and cash equivalents and restricted cash, beginning of period | Cash and cash equivalents and restricted cash, beginning of period | 99,021  | 99,021  |  |  |  |  | 66,088  | 66,088  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and cash equivalents and restricted cash, end of period | Cash and cash equivalents and restricted cash, end of period | Cash and cash equivalents and restricted cash, end of period | $ | 279,693  |  |  |  |  | $ | 81,428  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| \*\*Supplemental disclosures:\*\* | \*\*Supplemental disclosures:\*\* | \*\*Supplemental disclosures:\*\* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash paid for interest, net | Cash paid for interest, net | Cash paid for interest, net | $ | 504  |  |  |  |  | $ | 740  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Operating cash outflows from operating leases | Operating cash outflows from operating leases | Operating cash outflows from operating leases | 2,591  | 2,591  |  |  |  |  | 2,536  | 2,536  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Right-of-use assets obtained in exchange for lease liabilities | Right-of-use assets obtained in exchange for lease liabilities | Right-of-use assets obtained in exchange for lease liabilities | 2,372  | 2,372  |  |  |  |  | 1,208  | 1,208  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accrued purchases of property, equipment and patents | Accrued purchases of property, equipment and patents | Accrued purchases of property, equipment and patents | 525  | 525  |  |  |  |  | 426  | 426  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| \*\*Reconciliation of cash and cash equivalents and restricted cash:\*\* | \*\*Reconciliation of cash and cash equivalents and restricted cash:\*\* | \*\*Reconciliation of cash and cash equivalents and restricted cash:\*\* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and cash equivalents | Cash and cash equivalents | Cash and cash equivalents | $ | 279,371  |  |  |  |  | $ | 81,108  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Restricted cash | Restricted cash | Restricted cash | 322  | 322  |  |  |  |  | 320  | 320  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total cash and cash equivalents and restricted cash | Total cash and cash equivalents and restricted cash | Total cash and cash equivalents and restricted cash | $ | 279,693  |  |  |  |  | $ | 81,428  |  |  |  |  |  |  |  |  |  |  |  |  |  |
---
**nLIGHT, Inc.**
Reconciliation of GAAP Financial Metrics to Non-GAAP
\(In thousands, except per share data\)
\(Unaudited\)
***Reconciliation of GAAP to Non-GAAP Gross Profit***
|  |  |  | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* |
|  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |
|  |  |  | \*\*Products\*\* | \*\*Products\*\* | \*\*Products\*\* | \*\*Development\*\* | \*\*Development\*\* | \*\*Development\*\* | \*\*Total\*\* | \*\*Total\*\* | \*\*Total\*\* |  |  |  | \*\*Products\*\* | \*\*Products\*\* | \*\*Products\*\* | \*\*Development\*\* | \*\*Development\*\* | \*\*Development\*\* | \*\*Total\*\* | \*\*Total\*\* | \*\*Total\*\* |
| Revenue | Revenue | Revenue | $ | 48,047  |  | $ | 25,716  |  | $ | 73,763  |  |  |  |  | $ | 47,608  |  | $ | 19,134  |  | $ | 66,742  |  |
| Cost of revenue | Cost of revenue | Cost of revenue | \\\(25,289\\\) | \\\(25,289\\\) |  | \\\(24,043\\\) | \\\(24,043\\\) |  | \\\(49,332\\\) | \\\(49,332\\\) |  |  |  |  | \\\(28,086\\\) | \\\(28,086\\\) |  | \\\(17,903\\\) | \\\(17,903\\\) |  | \\\(45,989\\\) | \\\(45,989\\\) |  |
| Gross profit | Gross profit | Gross profit | $ | 22,758  |  | $ | 1,673  |  | $ | 24,431  |  |  |  |  | $ | 19,522  |  | $ | 1,231  |  | $ | 20,753  |  |
| Non-GAAP adjustments | Non-GAAP adjustments | Non-GAAP adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Stock-based compensation | Stock-based compensation | Stock-based compensation | 687  | 687  |  | 469  | 469  |  | 1,156  | 1,156  |  |  |  |  | 615  | 615  |  | —  | —  |  | 615  | 615  |  |
| Non-GAAP gross profit | Non-GAAP gross profit | Non-GAAP gross profit | $ | 23,445  |  | $ | 2,142  |  | $ | 25,587  |  |  |  |  | $ | 20,137  |  | $ | 1,231  |  | $ | 21,368  |  |
| Gross margin | Gross margin | Gross margin | 47.4  | 47.4  | % | 6.5  | 6.5  | % | 33.1  | 33.1  | % |  |  |  | 41.0  | 41.0  | % | 6.4  | 6.4  | % | 31.1  | 31.1  | % |
| Non-GAAP gross margin | Non-GAAP gross margin | Non-GAAP gross margin | 48.8  | 48.8  | % | 8.3  | 8.3  | % | 34.7  | 34.7  | % |  |  |  | 42.3  | 42.3  | % | 6.4  | 6.4  | % | 32.0  | 32.0  | % |
|  |  |  | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* |
|  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |
|  |  |  | \*\*Products\*\* | \*\*Products\*\* | \*\*Products\*\* | \*\*Development\*\* | \*\*Development\*\* | \*\*Development\*\* | \*\*Total\*\* | \*\*Total\*\* | \*\*Total\*\* |  |  |  | \*\*Products\*\* | \*\*Products\*\* | \*\*Products\*\* | \*\*Development\*\* | \*\*Development\*\* | \*\*Development\*\* | \*\*Total\*\* | \*\*Total\*\* | \*\*Total\*\* |
| Revenue | Revenue | Revenue | $ | 165,612  |  | $ | 70,923  |  | $ | 236,535  |  |  |  |  | $ | 124,110  |  | $ | 56,035  |  | $ | 180,145  |  |
| Cost of revenue | Cost of revenue | Cost of revenue | \\\(93,028\\\) | \\\(93,028\\\) |  | \\\(66,838\\\) | \\\(66,838\\\) |  | \\\(159,866\\\) | \\\(159,866\\\) |  |  |  |  | \\\(76,915\\\) | \\\(76,915\\\) |  | \\\(50,221\\\) | \\\(50,221\\\) |  | \\\(127,136\\\) | \\\(127,136\\\) |  |
| Gross profit | Gross profit | Gross profit | $ | 72,584  |  | $ | 4,085  |  | $ | 76,669  |  |  |  |  | $ | 47,195  |  | $ | 5,814  |  | $ | 53,009  |  |
| Non-GAAP adjustments | Non-GAAP adjustments | Non-GAAP adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Stock-based compensation | Stock-based compensation | Stock-based compensation | 2,039  | 2,039  |  | 1,388  | 1,388  |  | 3,427  | 3,427  |  |  |  |  | 1,783  | 1,783  |  | —  | —  |  | 1,783  | 1,783  |  |
| Non-GAAP gross profit | Non-GAAP gross profit | Non-GAAP gross profit | $ | 74,623  |  | $ | 5,473  |  | $ | 80,096  |  |  |  |  | $ | 48,978  |  | $ | 5,814  |  | $ | 54,792  |  |
| Gross margin | Gross margin | Gross margin | 43.8  | 43.8  | % | 5.8  | 5.8  | % | 32.4  | 32.4  | % |  |  |  | 38.0  | 38.0  | % | 10.4  | 10.4  | % | 29.4  | 29.4  | % |
| Non-GAAP gross margin | Non-GAAP gross margin | Non-GAAP gross margin | 45.1  | 45.1  | % | 7.7  | 7.7  | % | 33.9  | 33.9  | % |  |  |  | 39.5  | 39.5  | % | 10.4  | 10.4  | % | 30.4  | 30.4  | % |
---
***Reconciliation of Net Loss to Adjusted EBITDA***
|  |  |  | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* |  |  |  | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* |
|  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |
| Net loss | Net loss | Net loss | $ | \\\(7,176\\\) |  |  |  |  | $ | \\\(6,874\\\) |  |  |  |  | $ | \\\(7,870\\\) |  |  |  |  | $ | \\\(18,558\\\) |  |
| Income tax expense | Income tax expense | Income tax expense | 316  | 316  |  |  |  |  | 273  | 273  |  |  |  |  | 444  | 444  |  |  |  |  | 427  | 427  |  |
| Other income, net | Other income, net | Other income, net | 72  | 72  |  |  |  |  | 64  | 64  |  |  |  |  | \\\(116\\\) | \\\(116\\\) |  |  |  |  | 108  | 108  |  |
| Interest income | Interest income | Interest income | \\\(2,456\\\) | \\\(2,456\\\) |  |  |  |  | \\\(1,079\\\) | \\\(1,079\\\) |  |  |  |  | \\\(6,492\\\) | \\\(6,492\\\) |  |  |  |  | \\\(3,875\\\) | \\\(3,875\\\) |  |
| Interest expense | Interest expense | Interest expense | 25  | 25  |  |  |  |  | 317  | 317  |  |  |  |  | 529  | 529  |  |  |  |  | 753  | 753  |  |
| Depreciation and amortization | Depreciation and amortization | Depreciation and amortization | 2,892  | 2,892  |  |  |  |  | 3,313  | 3,313  |  |  |  |  | 9,596  | 9,596  |  |  |  |  | 10,398  | 10,398  |  |
| Stock-based compensation | Stock-based compensation | Stock-based compensation | 9,915  | 9,915  |  |  |  |  | 9,362  | 9,362  |  |  |  |  | 31,764  | 31,764  |  |  |  |  | 21,789  | 21,789  |  |
| Restructuring charges | Restructuring charges | Restructuring charges | 7,462  | 7,462  |  |  |  |  | 1,733  | 1,733  |  |  |  |  | 7,757  | 7,757  |  |  |  |  | 1,733  | 1,733  |  |
| Adjusted EBITDA | Adjusted EBITDA | Adjusted EBITDA | $ | 11,050  |  |  |  |  | $ | 7,109  |  |  |  |  | $ | 35,612  |  |  |  |  | $ | 12,775  |  |
***Reconciliation of GAAP to Non-GAAP Net Income \(Loss\), and GAAP to Non-GAAP Net Income \(Loss\) per Share, Basic and Diluted***
|  |  |  | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* |  |  |  | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* |
|  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |
| Net loss | Net loss | Net loss | $ | \\\(7,176\\\) |  |  |  |  | $ | \\\(6,874\\\) |  |  |  |  | $ | \\\(7,870\\\) |  |  |  |  | $ | \\\(18,558\\\) |  |
| Add back: | Add back: | Add back: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Stock-based compensation \\\(1\\\)<br><br> | Stock-based compensation \\\(1\\\)<br><br> | Stock-based compensation \\\(1\\\)<br><br> | 9,915  | 9,915  |  |  |  |  | 9,362  | 9,362  |  |  |  |  | 31,764  | 31,764  |  |  |  |  | 21,789  | 21,789  |  |
| Amortization of purchased intangibles \\\(1\\\)<br><br> | Amortization of purchased intangibles \\\(1\\\)<br><br> | Amortization of purchased intangibles \\\(1\\\)<br><br> | —  | —  |  |  |  |  | 99  | 99  |  |  |  |  | —  | —  |  |  |  |  | 397  | 397  |  |
| Restructuring charges | Restructuring charges | Restructuring charges | 7,462  | 7,462  |  |  |  |  | 1,733  | 1,733  |  |  |  |  | 7,757  | 7,757  |  |  |  |  | 1,733  | 1,733  |  |
| Non-GAAP net income \\\(loss\\\) | Non-GAAP net income \\\(loss\\\) | Non-GAAP net income \\\(loss\\\) | 10,201  | 10,201  |  |  |  |  | 4,320  | 4,320  |  |  |  |  | 31,651  | 31,651  |  |  |  |  | 5,361  | 5,361  |  |
| GAAP weighted-average shares outstanding | GAAP weighted-average shares outstanding | GAAP weighted-average shares outstanding | 57,895  | 57,895  |  |  |  |  | 50,288  | 50,288  |  |  |  |  | 56,346  | 56,346  |  |  |  |  | 49,658  | 49,658  |  |
| Participating securities | Participating securities | Participating securities | —  | —  |  |  |  |  | —  | —  |  |  |  |  | —  | —  |  |  |  |  | —  | —  |  |
| Non-GAAP weighted-average number of shares, basic | Non-GAAP weighted-average number of shares, basic | Non-GAAP weighted-average number of shares, basic | 57,895  | 57,895  |  |  |  |  | 50,288  | 50,288  |  |  |  |  | 56,346  | 56,346  |  |  |  |  | 49,658  | 49,658  |  |
| Dilutive effect of common stock equivalents | Dilutive effect of common stock equivalents | Dilutive effect of common stock equivalents | 4,259  | 4,259  |  |  |  |  | 4,139  | 4,139  |  |  |  |  | 5,180  | 5,180  |  |  |  |  | 3,259  | 3,259  |  |
| Non-GAAP weighted-average number of shares, diluted | Non-GAAP weighted-average number of shares, diluted | Non-GAAP weighted-average number of shares, diluted | 62,154  | 62,154  |  |  |  |  | 54,427  | 54,427  |  |  |  |  | 61,526  | 61,526  |  |  |  |  | 52,917  | 52,917  |  |
| Non-GAAP net income per share, basic | Non-GAAP net income per share, basic | Non-GAAP net income per share, basic | $ | 0.18  |  |  |  |  | $ | 0.09  |  |  |  |  | $ | 0.56  |  |  |  |  | $ | 0.11  |  |
| Non-GAAP net income per share, diluted | Non-GAAP net income per share, diluted | Non-GAAP net income per share, diluted | $ | 0.16  |  |  |  |  | $ | 0.08  |  |  |  |  | $ | 0.51  |  |  |  |  | $ | 0.10  |  |
1. \(1\) There is no income tax effect related to the stock-based compensation and amortization of purchased intangibles adjustments due to the full valuation allowance in the United States.
---
**nLIGHT, Inc.**
Supplemental Schedule of Financial Information
\(In thousands\)
\(Unaudited\)
***Revenues by End Market***
|  |  |  | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* | \*\*Three Months Ended September 30,\*\* |  |  |  | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* | \*\*Nine Months Ended September 30,\*\* |
|  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |  |  |  | \*\*2026\*\* | \*\*2026\*\* | \*\*2026\*\* |  |  |  | \*\*2025\*\* | \*\*2025\*\* | \*\*2025\*\* |
| Defense & Space | Defense & Space | Defense & Space | $ | 52,460  |  |  |  |  | $ | 45,554  |  |  |  |  | $ | 164,885  |  |  |  |  | $ | 118,955  |  |
| Advanced Manufacturing | Advanced Manufacturing | Advanced Manufacturing | 21,303  | 21,303  |  |  |  |  | 21,188  | 21,188  |  |  |  |  | 71,650  | 71,650  |  |  |  |  | 61,190  | 61,190  |  |
|  |  |  | $ | 73,763  |  |  |  |  | $ | 66,742  |  |  |  |  | $ | 236,535  |  |  |  |  | $ | 180,145  |  |</content>
                </data>
            

                <data>
                    <label>LASR 10-Q, date: 2026-11-06 19:25 UTC</label>
                    <content>### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549
\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
#### FORM 10-Q
\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
\(Mark One\)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 \(d\) OF THE SECURITIES EXCHANGE ACT OF 1934

#### For the quarterly period ended September 30, 2026
or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15\(d\) OF THE SECURITIES EXCHANGE ACT OF 1934

#### For the transition period from to

#### Commission File Number

#### 001-38462
\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
#### NLIGHT, INC.
\(Exact name of Registrant as specified in its charter\)

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
| Delaware                        |     | 91-2066376            |
| \(State or other jurisdiction of 
 incorporation or organization\)  |     | -I.R.S. Employer      
 Identification Number |

#### 4637 NW 18 th

#### Avenue

#### Camas, Washington 98607
\(Address of principal executive office, including zip code\)

\( 360\) 566-4460

\(Registrant's telephone number, including area code\)

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
Securities registered pursuant to Section 12\(b\) of the Act:

| Title of Each Class     |     | Trading Symbol |     | Name of Exchange on which Registered |
| Common Stock, par value 
 $0.0001 per share       |     | LASR           |     | The Nasdaq Stock Market LLC          |

Indicate by check mark whether the Registrant \(1\) has filed all reports required to be filed by Section 13 or 15\(d\) of the Securities Exchange Act of 1934 during the preceding 12 months \(or for such shorter period that the Registrant was required to file such reports\), and \(2\) has been subject to such filing requirements for the past 90 days. Yes☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T \(§232.405 of this chapter\) during the preceding 12 months \(or for such shorter period that the registrant was required to submit such files\). Yes☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

| Large Accelerated Filer |     | ☒ |     | Accelerated Filer |     | ☐ |     | Non-Accelerated Filer |     | ☐ |     | Smaller Reporting Company |     | ☐ |
|                         |     |   |     |                   |     |   |     |                       |     |   |     | Emerging Growth Company   |     | ☐ |

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13\(a\) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company \(as defined in Rule 12b-2 of the Exchange Act\). Yes ☐ No ☒

As of November 4, 2026, the Registrant had 58,234,103shares of common stock outstanding.

| TABLE OF CONTENTS                                                                                               |     |      |
|                                                                                                                 |     | Page |
| Part I. Financial Information                                                                                   |     |    1 |
| Item 1. Unaudited Interim Financial Statements                                                                  |     |    1 |
| Consolidated Balance Sheets:September30, 2026 and December 31, 2025 \(unaudited\)                                 |     |    1 |
| Consolidated Statements of Operations: Three andNineMonths EndedSeptember30, 2026 and 2025 \(unaudited\)          |     |    2 |
| Consolidated Statements of Comprehensive Loss:Three andNineMonths EndedSeptember30, 2026 and 2025 \(unaudited\)   |     |    3 |
| Consolidated Statements of Stockholders' Equity:Three andNineMonths EndedSeptember30, 2026 and 2025 \(unaudited\) |     |    4 |
| Consolidated Statements of Cash Flows: Nine Months Ended September 30, 2026 and 2025 \(unaudited\)                |     |    6 |
| Notes to Consolidated Financial Statements \(unaudited\)                                                          |     |    7 |
| Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations                   |     |   19 |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                              |     |   29 |
| Item 4. Controls and Procedures                                                                                 |     |   29 |
| Part II. Other Information                                                                                      |     |   29 |
| Item 1. Legal Proceedings                                                                                       |     |   30 |
| Item 1A. Risk Factors                                                                                           |     |   30 |
| Item 5. Other Information                                                                                       |     |   30 |
| Item 6. Exhibits                                                                                                |     |   31 |
| Signatures                                                                                                      |     |   32 |

#### PART I—FINANCIAL INFORMATION

## ITEM 1. FINANCIAL STATEMENTS

#### nLIGHT, Inc.
Consolidated Balance Sheets

\(In thousands\)

\(Unaudited\)
|                                                                                                                                                                 |     |   |              As of 
 September 30, 2026 |     |   | December 31, 2025 |
|:----------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--|-------------------:|:----|:--|------------------:|
| Assets                                                                                                                                                          |     |   |                    |     |   |                   |
| Current assets:                                                                                                                                                 |     |   |                    |     |   |                   |
| Cash and cash equivalents                                                                                                                                       |     | $ |            279,371 |     | $ |            98,699 |
| Marketable securities                                                                                                                                           |     |   |             34,832 |     |   |            34,934 |
| Accounts receivable, net of allowances of $731and $520                                                                                                          |     |   |             45,329 |     |   |            50,836 |
| Inventory                                                                                                                                                       |     |   |             59,840 |     |   |            45,407 |
| Prepaid expenses and other current assets                                                                                                                       |     |   |             35,127 |     |   |            13,314 |
| Total current assets                                                                                                                                            |     |   |            454,499 |     |   |           243,190 |
| Restricted cash                                                                                                                                                 |     |   |                322 |     |   |               322 |
| Lease right-of-use assets                                                                                                                                       |     |   |             17,868 |     |   |            15,020 |
| Property, plant and equipment, net                                                                                                                              |     |   |             43,902 |     |   |            42,114 |
| Goodwill                                                                                                                                                        |     |   |             12,420 |     |   |            12,448 |
| Other assets, net                                                                                                                                               |     |   |              1,061 |     |   |             2,116 |
| Total assets                                                                                                                                                    |     |   |            530,072 |     |   |           315,210 |
| Liabilities and Stockholders’ Equity                                                                                                                            |     |   |                    |     |   |                   |
| Current liabilities:                                                                                                                                            |     |   |                    |     |   |                   |
| Accounts payable                                                                                                                                                |     |   |             23,331 |     |   |            20,890 |
| Accrued liabilities                                                                                                                                             |     |   |             23,403 |     |   |            19,052 |
| Deferred revenues                                                                                                                                               |     |   |              9,880 |     |   |             1,489 |
| Current portion of lease liabilities                                                                                                                            |     |   |              2,362 |     |   |             2,776 |
| Line of credit                                                                                                                                                  |     |   |                  — |     |   |            20,000 |
| Total current liabilities                                                                                                                                       |     |   |             58,976 |     |   |            64,207 |
| Non-current income taxes payable                                                                                                                                |     |   |              6,022 |     |   |             5,902 |
| Long-term lease liabilities                                                                                                                                     |     |   |             16,890 |     |   |            13,431 |
| Other long-term liabilities                                                                                                                                     |     |   |              4,846 |     |   |             4,921 |
| Total liabilities                                                                                                                                               |     |   |             86,734 |     |   |            88,461 |
| Stockholders' equity:                                                                                                                                           |     |   |                    |     |   |                   |
| Common stock - $0.0001par value;190,000shares authorized,58,234and51,163shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively |     |   |                 17 |     |   |                16 |
| Additional paid-in capital                                                                                                                                      |     |   |            803,128 |     |   |           578,360 |
| Accumulated other comprehensive loss                                                                                                                            |     |   |             -3,374 |     |   |            -3,064 |
| Accumulated deficit                                                                                                                                             |     |   |           -356,433 |     |   |          -348,563 |
| Total stockholders’ equity                                                                                                                                      |     |   |            443,338 |     |   |           226,749 |
| Total liabilities and stockholders’ equity                                                                                                                      |     |   |            530,072 |     |   |           315,210 |
See accompanying notes to consolidated financial statements.

1
#### nLIGHT, Inc.
Consolidated Statements of Operations

\(In thousands, except per share data\)

\(Unaudited\)
| Revenue:                                                 |     |   | Three Months Ended September 30, 
                             2026 |     |   |   2025 |     |   | Nine Months Ended September 30, 
                            2026 |     |   |    2025 |
|:---------------------------------------------------------|:----|:--|---------------------------------:|:----|:--|-------:|:----|:--|--------------------------------:|:----|:--|--------:|
| Products                                                 |     | $ |                           48,047 |     | $ | 47,608 |     | $ |                         165,612 |     | $ | 124,110 |
| Development                                              |     |   |                           25,716 |     |   | 19,134 |     |   |                          70,923 |     |   |  56,035 |
| Total revenue                                            |     |   |                           73,763 |     |   | 66,742 |     |   |                         236,535 |     |   | 180,145 |
| Cost of revenue:                                         |     |   |                                  |     |   |        |     |   |                                 |     |   |         |
| Products                                                 |     |   |                           25,289 |     |   | 28,086 |     |   |                          93,028 |     |   |  76,915 |
| Development                                              |     |   |                           24,043 |     |   | 17,903 |     |   |                          66,838 |     |   |  50,221 |
| Total cost of revenue                                    |     |   |                           49,332 |     |   | 45,989 |     |   |                         159,866 |     |   | 127,136 |
| Gross profit                                             |     |   |                           24,431 |     |   | 20,753 |     |   |                          76,669 |     |   |  53,009 |
| Operating expenses:                                      |     |   |                                  |     |   |        |     |   |                                 |     |   |         |
| Research and development                                 |     |   |                           12,535 |     |   | 11,534 |     |   |                          37,511 |     |   |  33,920 |
| Sales, general, and administrative                       |     |   |                           13,653 |     |   | 14,785 |     |   |                          44,906 |     |   |  38,501 |
| Restructuring                                            |     |   |                            7,462 |     |   |  1,733 |     |   |                           7,757 |     |   |   1,733 |
| Total operating expenses                                 |     |   |                           33,650 |     |   | 28,052 |     |   |                          90,174 |     |   |  74,154 |
| Loss from operations                                     |     |   |                           -9,219 |     |   | -7,299 |     |   |                         -13,505 |     |   | -21,145 |
| Other income:                                            |     |   |                                  |     |   |        |     |   |                                 |     |   |         |
| Interest income                                          |     |   |                            2,456 |     |   |  1,079 |     |   |                           6,492 |     |   |   3,875 |
| Interest expense                                         |     |   |                              -25 |     |   |   -317 |     |   |                            -529 |     |   |    -753 |
| Other income \(expense\), net                              |     |   |                              -72 |     |   |    -64 |     |   |                             116 |     |   |    -108 |
| Loss before income taxes                                 |     |   |                           -6,860 |     |   | -6,601 |     |   |                          -7,426 |     |   | -18,131 |
| Income tax expense                                       |     |   |                              316 |     |   |    273 |     |   |                             444 |     |   |     427 |
| Net loss                                                 |     | $ |                           -7,176 |     | $ | -6,874 |     | $ |                          -7,870 |     | $ | -18,558 |
| Net loss per share, basic and diluted                    |     | $ |                            -0.12 |     | $ |  -0.14 |     | $ |                           -0.14 |     | $ |   -0.37 |
| Shares used in per share calculations, basic and diluted |     |   |                           57,895 |     |   | 50,288 |     |   |                          56,346 |     |   |  49,658 |
See accompanying notes to consolidated financial statements.

2
#### nLIGHT, Inc.
Consolidated Statements of Comprehensive Loss

\(In thousands\)

\(Unaudited\)
|                                                             |     |   | Three Months Ended September 30, 
                             2026 |     |   |   2025 |     |   | Nine Months Ended 
     September 30, 
              2026 |     |   |    2025 |
|:------------------------------------------------------------|:----|:--|---------------------------------:|:----|:--|-------:|:----|:--|------------------:|:----|:--|--------:|
| Net loss                                                    |     | $ |                           -7,176 |     | $ | -6,874 |     | $ |            -7,870 |     | $ | -18,558 |
| Other comprehensive \(loss\) income, net of tax:              |     |   |                                  |     |   |        |     |   |                   |     |   |         |
| Foreign currency translation adjustments                    |     |   |                               62 |     |   |    -45 |     |   |              -283 |     |   |   1,026 |
| Change in unrealized gains on available-for-sale securities |     |   |                               15 |     |   |     16 |     |   |               -25 |     |   |    -713 |
| Comprehensive loss                                          |     | $ |                           -7,099 |     | $ | -6,903 |     | $ |            -8,178 |     | $ | -18,245 |
See accompanying notes to consolidated financial statements.

3
#### nLIGHT, Inc.
Consolidated Statements of Stockholders' Equity

\(In thousands\)

\(Unaudited\)
|                                                                                                                  |     | Three Months Ended September 30, 2026 |     |   |        |     |   |                            |     |   |                                      |     |   |                     |     |   |                            |
|:-----------------------------------------------------------------------------------------------------------------|:----|--------------------------------------:|:----|:--|-------:|:----|:--|---------------------------:|:----|:--|-------------------------------------:|:----|:--|--------------------:|:----|:--|---------------------------:|
|                                                                                                                  |     |                          Common stock |     |   |        |     |   | Additional paid-in capital |     |   | Accumulated other comprehensive loss |     |   | Accumulated deficit |     |   | Total stockholders' equity |
|                                                                                                                  |     |                                Shares |     |   | Amount |     |   |                            |     |   |                                      |     |   |                     |     |   |                            |
| Balance, June 30, 2026                                                                                           |     |                                57,658 |     | $ |     17 |     | $ |                    792,595 |     | $ |                               -3,452 |     | $ |            -349,257 |     | $ |                    439,903 |
| Net loss                                                                                                         |     |                                     — |     |   |      — |     |   |                          — |     |   |                                    — |     |   |              -7,176 |     |   |                     -7,176 |
| Issuance of common stock pursuant to exercise of stock options                                                   |     |                                   414 |     |   |      — |     |   |                        619 |     |   |                                    — |     |   |                   — |     |   |                        619 |
| Issuance of common stock pursuant to vesting of restricted stock awards and units, net of stock withheld for tax |     |                                   162 |     |   |      — |     |   |                          — |     |   |                                    — |     |   |                   — |     |   |                          — |
| Stock-based compensation for equity-classified awards                                                            |     |                                     — |     |   |      — |     |   |                      9,915 |     |   |                                    — |     |   |                   — |     |   |                      9,915 |
| Change in unrealized gains on available-for-sale securities                                                      |     |                                     — |     |   |      — |     |   |                          — |     |   |                                   15 |     |   |                   — |     |   |                         15 |
| Cumulative translation adjustment, net of tax                                                                    |     |                                     — |     |   |      — |     |   |                         -1 |     |   |                                   63 |     |   |                   — |     |   |                         62 |
| Balance, September 30, 2026                                                                                      |     |                                58,234 |     | $ |     17 |     | $ |                    803,128 |     | $ |                               -3,374 |     | $ |            -356,433 |     | $ |                    443,338 |

|                                                                                                                  |     |              |     | Nine Months Ended September 30, 2026 |     |   |                            |     |   |                                      |     |   |                     |     |   |                            |     |   |         |
|:-----------------------------------------------------------------------------------------------------------------|:----|:-------------|:----|-------------------------------------:|:----|:--|---------------------------:|:----|:--|-------------------------------------:|:----|:--|--------------------:|:----|:--|---------------------------:|:----|:--|--------:|
|                                                                                                                  |     | Common stock |     |                                      |     |   | Additional paid-in capital |     |   | Accumulated other comprehensive loss |     |   | Accumulated deficit |     |   | Total stockholders' equity |     |   |         |
|                                                                                                                  |     |              |     |                               Shares |     |   |                     Amount |     |   |                                      |     |   |                     |     |   |                            |     |   |         |
| Balance, December 31, 2025                                                                                       |     |              |     |                               51,163 |     | $ |                         16 |     | $ |                              578,360 |     | $ |              -3,064 |     | $ |                   -348,563 |     | $ | 226,749 |
| Net loss                                                                                                         |     |              |     |                                    — |     |   |                          — |     |   |                                    — |     |   |                   — |     |   |                     -7,870 |     |   |  -7,870 |
| Proceeds from follow-on offering, net of underwriting discount                                                   
 and offering costs                                                                                               |     |              |     |                                4,574 |     |   |                          1 |     |   |                              191,274 |     |   |                     |     |   |                            |     |   | 191,275 |
| Issuance of common stock pursuant to exercise of stock options                                                   |     |              |     |                                  574 |     |   |                          — |     |   |                                  836 |     |   |                   — |     |   |                          — |     |   |     836 |
| Issuance of common stock pursuant to vesting of restricted stock awards and units, net of stock withheld for tax |     |              |     |                                1,856 |     |   |                          — |     |   |                                 -190 |     |   |                   — |     |   |                          — |     |   |    -190 |
| Issuance of common stock under the Employee Stock Purchase Plan                                                  |     |              |     |                                   67 |     |   |                          — |     |   |                                1,668 |     |   |                   — |     |   |                          — |     |   |   1,668 |
| Stock-based compensation for equity-classified awards                                                            |     |              |     |                                    — |     |   |                          — |     |   |                               31,178 |     |   |                   — |     |   |                          — |     |   |  31,178 |
| Change in unrealized gains on available-for-sale securities                                                      |     |              |     |                                    — |     |   |                          — |     |   |                                    — |     |   |                 -25 |     |   |                          — |     |   |     -25 |
| Cumulative translation adjustment, net of tax                                                                    |     |              |     |                                    — |     |   |                          — |     |   |                                    2 |     |   |                -285 |     |   |                          — |     |   |    -283 |
| Balance, September 30, 2026                                                                                      |     |              |     |                               58,234 |     | $ |                         17 |     | $ |                              803,128 |     | $ |              -3,374 |     | $ |                   -356,433 |     | $ | 443,338 |
4
|                                                                                                                  |     | Three Months Ended September 30, 2025 |     |   |        |     |   |                            |     |   |                                      |     |   |                     |     |   |                            |
|:-----------------------------------------------------------------------------------------------------------------|:----|--------------------------------------:|:----|:--|-------:|:----|:--|---------------------------:|:----|:--|-------------------------------------:|:----|:--|--------------------:|:----|:--|---------------------------:|
|                                                                                                                  |     |                          Common stock |     |   |        |     |   | Additional paid-in capital |     |   | Accumulated other comprehensive loss |     |   | Accumulated deficit |     |   | Total stockholders' equity |
|                                                                                                                  |     |                                Shares |     |   | Amount |     |   |                            |     |   |                                      |     |   |                     |     |   |                            |
| Balance, June 30, 2025                                                                                           |     |                                49,883 |     | $ |     16 |     | $ |                    555,755 |     | $ |                               -2,990 |     | $ |            -336,780 |     | $ |                    216,001 |
| Net loss                                                                                                         |     |                                     — |     |   |      — |     |   |                          — |     |   |                                    — |     |   |              -6,874 |     |   |                     -6,874 |
| Issuance of common stock pursuant to exercise of stock options                                                   |     |                                    24 |     |   |      — |     |   |                         34 |     |   |                                    — |     |   |                   — |     |   |                         34 |
| Issuance of common stock pursuant to vesting of restricted stock awards and units, net of stock withheld for tax |     |                                   877 |     |   |      — |     |   |                         -1 |     |   |                                    — |     |   |                   — |     |   |                         -1 |
| Issuance of common stock under the Employee Stock Purchase Plan                                                  |     |                                     — |     |   |      — |     |   |                          — |     |   |                                    — |     |   |                   — |     |   |                          — |
| Stock-based compensation                                                                                         |     |                                     — |     |   |      — |     |   |                      9,362 |     |   |                                    — |     |   |                   — |     |   |                      9,362 |
| Change in unrealized gains on available-for-sale securities                                                      |     |                                     — |     |   |      — |     |   |                          — |     |   |                                   16 |     |   |                   — |     |   |                         16 |
| Cumulative translation adjustment, net of tax                                                                    |     |                                     — |     |   |      — |     |   |                          — |     |   |                                  -45 |     |   |                   — |     |   |                        -45 |
| Balance, September 30, 2025                                                                                      |     |                                50,784 |     | $ |     16 |     | $ |                    565,150 |     | $ |                               -3,019 |     | $ |            -343,654 |     | $ |                    218,493 |

|                                                                                                                  |     | Nine Months Ended September 30, 2025 |     |   |        |     |   |                            |     |   |                                      |     |   |                     |     |   |                            |
|:-----------------------------------------------------------------------------------------------------------------|:----|-------------------------------------:|:----|:--|-------:|:----|:--|---------------------------:|:----|:--|-------------------------------------:|:----|:--|--------------------:|:----|:--|---------------------------:|
|                                                                                                                  |     |                         Common stock |     |   |        |     |   | Additional paid-in capital |     |   | Accumulated other comprehensive loss |     |   | Accumulated deficit |     |   | Total stockholders' equity |
|                                                                                                                  |     |                               Shares |     |   | Amount |     |   |                            |     |   |                                      |     |   |                     |     |   |                            |
| Balance, December 31, 2024                                                                                       |     |                               48,948 |     | $ |     16 |     | $ |                    544,842 |     | $ |                               -3,332 |     | $ |            -325,096 |     | $ |                    216,430 |
| Net loss                                                                                                         |     |                                    — |     |   |      — |     |   |                          — |     |   |                                    — |     |   |             -18,558 |     |   |                    -18,558 |
| Issuance of common stock pursuant to exercise of stock options                                                   |     |                                  209 |     |   |      — |     |   |                        196 |     |   |                                    — |     |   |                   — |     |   |                        196 |
| Issuance of common stock pursuant to vesting of restricted stock awards and units, net of stock withheld for tax |     |                                1,471 |     |   |      — |     |   |                     -3,062 |     |   |                                    — |     |   |                   — |     |   |                     -3,062 |
| Issuance of common stock under the Employee Stock Purchase Plan                                                  |     |                                  156 |     |   |      — |     |   |                      1,385 |     |   |                                    — |     |   |                   — |     |   |                      1,385 |
| Stock-based compensation                                                                                         |     |                                    — |     |   |      — |     |   |                     21,789 |     |   |                                    — |     |   |                   — |     |   |                     21,789 |
| Change in unrealized gains on available-for-sale securities                                                      |     |                                    — |     |   |      — |     |   |                          — |     |   |                                 -713 |     |   |                   — |     |   |                       -713 |
| Cumulative translation adjustment, net of tax                                                                    |     |                                    — |     |   |      — |     |   |                          — |     |   |                                1,026 |     |   |                   — |     |   |                      1,026 |
| Balance, September 30, 2025                                                                                      |     |                               50,784 |     | $ |     16 |     | $ |                    565,150 |     | $ |                               -3,019 |     | $ |            -343,654 |     | $ |                    218,493 |
5
#### nLIGHT, Inc.
Consolidated Statements of Cash Flows

\(In thousands\)

\(Unaudited\)
| Cash flows from operating activities:                                           |     |   | Nine Months Ended September 30, 
                            2026 |     |   |    2025 |
|:--------------------------------------------------------------------------------|:----|:--|--------------------------------:|:----|:--|--------:|
| Net loss                                                                        |     | $ |                          -7,870 |     | $ | -18,558 |
| Adjustments to reconcile net loss to net cash provided by operating activities: |     |   |                                 |     |   |         |
| Depreciation                                                                    |     |   |                           9,182 |     |   |   9,151 |
| Amortization                                                                    |     |   |                             414 |     |   |   1,247 |
| \(Increase\) reduction in carrying amount of right-of-use assets                  |     |   |                          -3,002 |     |   |     784 |
| Provision for losses on \(recoveries of\) accounts receivable                     |     |   |                              17 |     |   |  -1,131 |
| Stock-based compensation                                                        |     |   |                          31,764 |     |   |  21,789 |
| Deferred income taxes                                                           |     |   |                             258 |     |   |     101 |
| Loss on disposal of property, plant and equipment                               |     |   |                               — |     |   |     190 |
| Gain on sale of subsidiary                                                      |     |   |                              -9 |     |   |       — |
| Accrued interest earned on marketable securities                                |     |   |                            -678 |     |   |    -256 |
| Non-cash restructuring charges                                                  |     |   |                           4,818 |     |   |   1,243 |
| Changes in operating assets and liabilities:                                    |     |   |                                 |     |   |         |
| Accounts receivable, net                                                        |     |   |                           3,554 |     |   | -13,186 |
| Inventory                                                                       |     |   |                         -15,060 |     |   | -10,203 |
| Prepaid expenses and other current assets                                       |     |   |                         -21,772 |     |   |   5,914 |
| Other assets, net                                                               |     |   |                             399 |     |   |   1,099 |
| Accounts payable                                                                |     |   |                           2,288 |     |   |   1,886 |
| Accrued and other long-term liabilities                                         |     |   |                           1,543 |     |   |   5,795 |
| Deferred revenues                                                               |     |   |                           8,395 |     |   |  -1,247 |
| Lease liabilities                                                               |     |   |                           3,077 |     |   |    -927 |
| Non-current income taxes payable                                                |     |   |                             -36 |     |   |     121 |
| Net cash provided by operating activities                                       |     |   |                          17,282 |     |   |   3,812 |
| Cash flows from investing activities:                                           |     |   |                                 |     |   |         |
| Proceeds from sale of fixed assets                                              |     |   |                               — |     |   |     447 |
| Purchases of property, plant and equipment                                      |     |   |                         -11,407 |     |   |  -7,444 |
| Purchase of marketable securities                                               |     |   |                         -43,988 |     |   | -68,697 |
| Proceeds from maturities and sales of marketable securities                     |     |   |                          44,742 |     |   |  68,425 |
| Proceeds from sale of subsidiary, net of cash disposed                          |     |   |                             396 |     |   |       — |
| Net cash used in investing activities                                           |     |   |                         -10,257 |     |   |  -7,269 |
| Cash flows from financing activities:                                           |     |   |                                 |     |   |         |
| Proceeds from public offering, net of underwriting discounts                    |     |   |                         192,194 |     |   |       — |
| Public offering costs                                                           |     |   |                            -919 |     |   |       — |
| Proceeds from line of credit                                                    |     |   |                               — |     |   |  20,000 |
| Repayments of line of credit                                                    |     |   |                         -20,000 |     |   |       — |
| Proceeds from employee stock plan purchases                                     |     |   |                           1,668 |     |   |   1,385 |
| Proceeds from stock option exercises                                            |     |   |                             836 |     |   |     196 |
| Tax payments related to stock award issuances                                   |     |   |                            -190 |     |   |  -3,062 |
| Net cash provided by financing activities                                       |     |   |                         173,589 |     |   |  18,519 |
| Effect of exchange rate changes on cash                                         |     |   |                              58 |     |   |     278 |
| Net increase in cash, cash equivalents, and restricted cash                     |     |   |                         180,672 |     |   |  15,340 |
| Cash, cash equivalents, and restricted cash, beginning of period                |     |   |                          99,021 |     |   |  66,088 |
| Cash, cash equivalents, and restricted cash, end of period                      |     | $ |                         279,693 |     | $ |  81,428 |
| Supplemental disclosures:                                                       |     |   |                                 |     |   |         |
| Cash paid for interest, net                                                     |     | $ |                             504 |     | $ |     740 |
| Operating cash outflows from operating leases                                   |     |   |                           2,591 |     |   |   2,536 |
| Right-of-use assets obtained in exchange for lease liabilities                  |     |   |                           2,372 |     |   |   1,208 |
| Accrued purchases of property, equipment and patents                            |     |   |                             525 |     |   |     426 |
| Reconciliation of cash, cash equivalents, and restricted cash:                  |     |   |                                 |     |   |         |
| Cash and cash equivalents                                                       |     | $ |                         279,371 |     | $ |  81,108 |
| Restricted cash                                                                 |     |   |                             322 |     |   |     320 |
| Total cash, cash equivalents, and restricted cash                               |     | $ |                         279,693 |     | $ |  81,428 |
See accompanying notes to consolidated financial statements.

6
#### nLIGHT, Inc.

### Notes to Consolidated Financial Statements
Note 1 - Basis of Presentation and New Accounting Pronouncements

Basis of Presentation

The accompanying unaudited consolidated financial statements of nLIGHT, Inc. and our wholly-owned subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America \(U.S. GAAP\) and pursuant to the rules and regulations of the Securities and Exchange Commission \(SEC\). The unaudited financial information reflects, in the opinion of management, all adjustments necessary for a fair presentation of financial position, results of operations, stockholders’ equity, and cash flows for the interim periods presented. The results reported for the interim period presented are not necessarily indicative of results that may be expected for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2025.

Change in Presentation

We sell our products into twoprimary end markets: Defense & Space and Advanced Manufacturing. Beginning with the quarter ended September 30, 2026, we present revenue in twoend markets: Defense & Space, which consists of revenue previously reported as Aerospace and Defense, and Advanced Manufacturing, which combines our former Industrial and Microfabrication end markets. We made this change to better reflect how management views our customer base. Prior-period amounts have been recast to conform to the current presentation. The change had no effect on total revenue or segment reporting.

Critical Accounting Policies

Our critical accounting policies have not materially changed during the nine months ended September 30, 2026, from those disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025.

New Accounting Pronouncements

ASU 2024-03

In November 2024, the FASB issued ASU 2024-03 related to the disaggregation of certain income statement expenses. The amendments in this update require public entities to disclose incremental information related to purchases of inventory, team member compensation and depreciation, which will provide investors the ability to better understand entity expenses and make their own judgments about entity performance. The amendments in this update are effective for fiscal years beginning after December 15, 2026. We plan to adopt this pronouncement and make the necessary updates to our disclosures for the year ending December 31, 2027, and, aside from these disclosure changes, we do not expect the amendments to have a material effect on our financial position, results of operations or cash flows.

ASU 2025-10

In December 2025, the FASB issued ASU 2025‑10 related to government grants received by business entities. The amendments in this update establish recognition, measurement, presentation, and disclosure guidance for government grants and require such grants to be recognized only when it is probable that the entity will comply with the related conditions and that the grant will be received. The amendments in this update are effective for annual periods beginning after December 15, 2028. We are evaluating the amendments and expect to adopt the guidance when it becomes effective. We do not expect the amendments to have a material effect on our financial position, results of operations, or cash flows.

ASU 2025-11

In December 2025, the FASB issued ASU 2025-11 related to interim reporting. The amendments in this update clarify and streamline interim reporting disclosure requirements. The amendments are effective for interim reporting periods within fiscal years beginning after December 15, 2027 for public business entities. We are evaluating the amendments and expect to adopt the guidance when it becomes effective. We do not expect the adoption of ASU 2025‑11 to have a material impact on our financial position, results of operations or cash flows.
7
#### Note 2 - Revenue
We recognize revenue upon transferring control of products and services and the amounts recognized reflect the consideration we expect to be entitled to receive in exchange for these products and services. We consider customer purchase orders, which in some cases are governed by master sales agreements, to be the contracts with a customer. As part of our consideration of the contract, we evaluate certain factors, including the customer's ability to pay \(or credit risk\). For each contract, we consider the promise to transfer products, each of which is distinct, as the identified performance obligations.

We allocate the transaction price to each distinct product based on its relative standalone selling price. Master sales agreements or purchase orders from customers could include a single product or multiple products. Regardless, the contracted price with the customer is agreed to at the individual product level outlined in the customer contract or purchase order. We do not bundle prices; however, we do negotiate with customers on pricing for the same products based on a variety of factors \(e.g., level of contractual volume\). We have concluded that the prices negotiated with each individual customer are representative of the stand-alone selling price of the product.

We often receive orders with multiple delivery dates that may extend across several reporting periods. We allocate the transaction price of the contract to each delivery based on the product standalone selling price and invoice for each scheduled delivery upon shipment or delivery and recognize revenues for such delivery at that point, when transfer of control has occurred. As scheduled delivery dates are generally within one year, under the optional exemption provided by ASC 606-10-50-14a, revenues allocated to future shipments of partially completed contracts are not disclosed as performance obligations for point in time revenue. Further, we recognize, over time, revenue as per ASC 606-10-55-18 \(invoice practical expedient\) for our cost plus contracts and, accordingly, elect not to disclose information related to those performance obligations under ASC 606-10-50-14b. As of September 30, 2026, we had

$ 19.3million of performance obligations relating to firm fixed price contracts that did not qualify for the aforementioned disclosure exemptions. We expect to recognize 19% of these performance obligations by the end of 2026 and the remainder by the end of 2027.

We have elected, per ASC 606-10-25-18B \(shipping and handling practical expedient\), to recognize shipping and handling services performed after control transfer as fulfillment costs.

Rights of return generally are not included in customer contracts. Accordingly, product revenue is recognized upon transfer of control at shipment or delivery, as applicable. Rights of return are evaluated as they occur.

Revenues recognized at a point in time consist of sales of semiconductor lasers, fiber amplifiers, fiber lasers and other related products. Revenues recognized over time generally consist of development arrangements that are structured based on our costs incurred. For long-term contracts, we estimate the total expected costs to complete the contract and recognize revenue based on the percentage of costs incurred at period end. Typically, revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred costs represent work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, materials, subcontractors costs, other direct costs, and indirect costs applicable on government and commercial contracts.

Contract estimates are based on various assumptions to project the outcome of future events that may span several

years. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, the performance of subcontractors, and the availability and timing of funding from the customer. Billing under these arrangements generally occurs within one month of the costs being incurred or as milestones are reached.

The following tables represent a disaggregation of revenue from contracts with customers for the periods presented \(in thousands\):
8
Sales by End Market

|                        |     |   | Three Months Ended September 30, |     |   |        |     |   | Nine Months Ended 
     September 30, |     |   |         |
|                        |     |   |                             2026 |     |   |   2025 |     |   |              2026 |     |   |    2025 |
| Defense & Space        |     |   |                           52,460 |     |   | 45,554 |     |   |           164,885 |     |   | 118,955 |
| Advanced Manufacturing |     |   |                           21,303 |     |   | 21,188 |     |   |            71,650 |     |   |  61,190 |
|                        |     | $ |                           73,763 |     | $ | 66,742 |     | $ |           236,535 |     | $ | 180,145 |

Sales by Geography

|               |     |   | Three Months Ended September 30, 
                             2026 |     |   |   2025 |     |   | Nine Months Ended 
     September 30, 
              2026 |     |   |    2025 |
|:--------------|:----|:--|---------------------------------:|:----|:--|-------:|:----|:--|------------------:|:----|:--|--------:|
| North America |     | $ |                           52,122 |     | $ | 46,682 |     | $ |           170,875 |     | $ | 127,938 |
| Asia Pacific  |     |   |                            9,696 |     |   |  9,280 |     |   |            30,754 |     |   |  27,070 |
| EMEA\(1\)       |     |   |                           11,945 |     |   | 10,780 |     |   |            34,906 |     |   |  25,137 |
|               |     | $ |                           73,763 |     | $ | 66,742 |     | $ |           236,535 |     | $ | 180,145 |

\(1\) EMEA consists of Europe, the Middle East, and Africa.

Sales by Timing of Revenue

|               |     |   | Three Months Ended September 30, 
                             2026 |     |   |   2025 |     |   | Nine Months Ended 
     September 30, 
              2026 |     |   |    2025 |
|:--------------|:----|:--|---------------------------------:|:----|:--|-------:|:----|:--|------------------:|:----|:--|--------:|
| Point in time |     | $ |                           46,290 |     | $ | 47,415 |     | $ |           161,267 |     | $ | 123,869 |
| Over time     |     |   |                           27,473 |     |   | 19,327 |     |   |            75,268 |     |   |  56,276 |
|               |     | $ |                           73,763 |     | $ | 66,742 |     | $ |           236,535 |     | $ | 180,145 |

Our contract assets and liabilities were as follows \(in thousands\):

|                      |     | Balance Sheet Classification                      |     | September 30, 2026 |     |   |  As of |     | December 31, 2025 |     |   |       |
|:---------------------|:----|:--------------------------------------------------|:----|:-------------------|:----|:--|-------:|:----|:------------------|:----|:--|------:|
| Contract assets      |     | Prepaid expenses and                              
 other current assets                              |     |                    |     | $ | 24,030 |     |                   |     | $ | 6,188 |
| Contract liabilities |     | Deferred revenues and other long-term liabilities |     |                    |     |   | 14,709 |     |                   |     |   | 5,566 |

Contract assets generally consist of revenue recognized on an over-time basis where revenue recognition has been met, but the amounts are billed and collected in a subsequent period. In our services contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals, which is generally monthly, or upon the achievement of contractual milestones. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets. However, we sometimes receive advances or deposits from our customers before revenue is recognized, resulting in contract liabilities recorded in deferred revenues on the Consolidated Balance Sheets. Contract liabilities are not a significant financing component as they are generally utilized to pay for contract costs within a one-year period or are used to ensure the customer meets contractual requirements. These assets and liabilities are reported on the Consolidated Balance Sheets on a contract-by-contract basis at the end of each reporting period. For our product revenue, we generally receive cash payments subsequent to satisfying the performance obligation via delivery of the product, resulting in billed accounts receivable. For our contracts, there are no significant gaps between the receipt of payment and the transfer of the associated goods and services to the customer for material amounts of consideration.

During the three and nine months ended September 30, 2026, we recognized revenue of $ 0.2million and $ 2.1million that was included in the deferred revenues balance at the beginning of the period as the performance obligations under the associated agreements were satisfied.
9
#### Note 3 - Concentrations of Credit and Other Risks
The following customers accounted for 10% or more of our revenues for the periods presented:

|                  |     | Three Months Ended September 30, |     |      |     | Nine Months Ended September 30, |     |      |
|                  |     |                             2026 |     | 2025 |     |                            2026 |     | 2025 |
| U.S. Government\* |     |                              39% |     |  35% |     |                             37% |     |  36% |
| RTX Corporation  |     |                              11% |     |  11% |     |                             11% |     |  10% |

\*Excludes sales to customers who sell our products and services exclusively to the U.S. Government

Financial instruments that potentially expose us to concentrations of credit risk consist principally of receivables from customers. As of September 30, 2026, two customers accounted for a total of 43% of our net customer receivables. No other customers accounted for 10% or more of net customer receivables at this date. As of December 31, 2025, no customer accounted for 10% or more of our net customer receivables.

#### Note 4 - Fair Value of Financial Instruments
The carrying amounts of certain of our financial instruments, including cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable and accrued liabilities are shown at cost which approximates fair value due to the short-term nature of these instruments. The fair value of our term and revolving loans approximates the carrying value due to the variable market rate used to calculate interest payments.

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability \(an exit price\) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:

• Level 1 Inputs: Observable inputs, such as quoted prices \(unadjusted\) in active markets for identical assets or liabilities at the measurement date.

• Level 2 Inputs: Observable inputs, other than Level 1 prices, such as quoted prices in active markets for similar assets and liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

• Level 3 Inputs: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Our financial instruments that are carried at fair value consist of Level 1 assets which include highly liquid investments and bank drafts classified as cash equivalents and marketable securities.

Our fair value hierarchy for our financial instruments was as follows \(in thousands\):

|                         |     |   | September 30, 2026 |     |   |         |     |   |         |     |   |         |
|:------------------------|:----|:--|-------------------:|:----|:--|:--------|:----|:--|:--------|:----|:--|--------:|
|                         |     |   |            Level 1 |     |   | Level 2 |     |   | Level 3 |     |   |   Total |
| Cash Equivalents:       |     |   |                    |     |   |         |     |   |         |     |   |         |
| Money market securities |     | $ |            146,495 |     | $ | —       |     | $ | —       |     | $ | 146,495 |
| Commercial paper        |     |   |                181 |     |   | —       |     |   | —       |     |   |     181 |
|                         |     |   |            146,676 |     |   | —       |     |   | —       |     |   | 146,676 |
| Marketable Securities:  |     |   |                    |     |   |         |     |   |         |     |   |         |
| U.S. treasuries         |     |   |             34,832 |     |   | —       |     |   | —       |     |   |  34,832 |
| Total                   |     | $ |            181,508 |     | $ | —       |     | $ | —       |     | $ | 181,508 |
10
|                         |     |   | December 31, 2025 |     |   |         |     |   |         |     |   |        |
|:------------------------|:----|:--|------------------:|:----|:--|:--------|:----|:--|:--------|:----|:--|-------:|
|                         |     |   |           Level 1 |     |   | Level 2 |     |   | Level 3 |     |   |  Total |
| Cash Equivalents:       |     |   |                   |     |   |         |     |   |         |     |   |        |
| Money market securities |     | $ |            22,761 |     | $ | —       |     | $ | —       |     | $ | 22,761 |
| Commercial paper        |     |   |             2,232 |     |   | —       |     |   | —       |     |   |  2,232 |
|                         |     |   |            24,993 |     |   | —       |     |   | —       |     |   | 24,993 |
| Marketable Securities:  |     |   |                   |     |   |         |     |   |         |     |   |        |
| U.S. treasuries         |     |   |            34,934 |     |   | —       |     |   | —       |     |   | 34,934 |
| Total                   |     | $ |            59,927 |     | $ | —       |     | $ | —       |     | $ | 59,927 |

Cash Equivalents

The fair value of cash equivalents is determined based on quoted market prices for similar or identical securities.

Marketable Securities

Marketable securities consist primarily of highly liquid investments with original maturities of greater than 90 days when purchased. We classify our marketable securities as available-for-sale, as they represent investments that are available to be sold for current operations, and value them utilizing a market approach that uses observable inputs without applying significant judgment.

#### Note 5 - Inventory
Inventory is stated at the lower of average cost \(principally standard cost, which approximates actual cost on a first-in, first-out basis\) and net realizable value. Inventory includes raw materials and components that may be specialized in nature and subject to obsolescence. On a quarterly basis, we review inventory quantities on hand in comparison to our past consumption, recent purchases, and other factors to determine what inventory quantities, if any, may not be sellable. Based on this analysis, we write down the affected inventory value for estimated excess and obsolescence charges. At the point of loss recognition, a new, lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.

Inventory consisted of the following \(in thousands\):

|                                         |     |   |              As of 
 September 30, 2026 |     |   | December 31, 2025 |
|:----------------------------------------|:----|:--|-------------------:|:----|:--|------------------:|
| Raw materials                           |     | $ |             35,205 |     | $ |            23,064 |
| Work in process and semi-finished goods |     |   |             22,437 |     |   |            19,408 |
| Finished goods                          |     |   |              2,198 |     |   |             2,935 |
|                                         |     | $ |             59,840 |     | $ |            45,407 |

#### Note 6 - Property, Plant and Equipment
Property, plant and equipment consisted of the following \(in thousands\):
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|                                     |     | Useful life 
     \(years\) |     |   |              As of 
 September 30, 2026 |     |   | December 31, 2025 |
|:------------------------------------|:----|------------:|:----|:--|-------------------:|:----|:--|------------------:|
| Automobiles                         |     |           3 |     | $ |                 64 |     | $ |                64 |
| Computer hardware and software      |     |         3-5 |     |   |              9,734 |     |   |             9,399 |
| Manufacturing and lab equipment     |     |         2-7 |     |   |             87,839 |     |   |            83,547 |
| Office equipment and furniture      |     |         5-7 |     |   |              1,810 |     |   |             1,774 |
| Leasehold and building improvements |     |        2-12 |     |   |             37,217 |     |   |            34,861 |
| Buildings                           |     |          30 |     |   |              9,392 |     |   |             9,392 |
| Land                                |     |         N/A |     |   |              3,399 |     |   |             3,399 |
|                                     |     |             |     |   |            149,455 |     |   |           142,436 |
| Accumulated depreciation            |     |             |     |   |           -105,553 |     |   |          -100,322 |
|                                     |     |             |     | $ |             43,902 |     | $ |            42,114 |

#### Note 7 - Goodwill
Goodwill

The carrying amount of goodwill by segment was as follows \(in thousands\):

|                                   |     |   | Laser Products |     |   | Advanced Development |     |   | Totals |
|:----------------------------------|:----|:--|---------------:|:----|:--|---------------------:|:----|:--|-------:|
| Balance, December 31, 2025        |     | $ |          2,200 |     | $ |               10,248 |     | $ | 12,448 |
| Currency exchange rate adjustment |     |   |            -28 |     |   |                    — |     |   |    -28 |
| Balance, September 30, 2026       |     | $ |          2,172 |     | $ |               10,248 |     | $ | 12,420 |

#### Note 8 - Line of Credit
We have a $ 40.0million revolving line of credit \(LOC\) with Banc of California dated September 24, 2018, which is secured by our assets and matures on September 24, 2027. The LOC agreement contains restrictive and financial covenants and bears an unused credit fee of 0.25% on an annualized basis. The interest rate of 6.00% on the LOC at September 30, 2026 is based on the Prime Rate, minus a margin based on our liquidity levels.

During the three months ended June 30, 2026, we repaid the $ 20.0million we had previously drawn under the LOC. As of September 30, 2026, noamount was outstanding on the LOC and we were in compliance with all covenants. Because noamounts were outstanding under the LOC during the three months ended September 30, 2026, only immaterialinterest expense, consisting of the unused credit fee, was recognized during this period. Interest expense on the LOC for the nine months ended September 30, 2026 was $ 0.5million. The full $ 40.0million unused portion of the LOC is available for borrowing.

#### Note 9 - Accrued Liabilities
Accrued liabilities consisted of the following \(in thousands\):

|                              |     |   |              As of 
 September 30, 2026 |     |   | December 31, 2025 |
|:-----------------------------|:----|:--|-------------------:|:----|:--|------------------:|
| Accrued payroll and benefits |     | $ |             19,906 |     | $ |            14,845 |
| Product warranty, current    |     |   |              2,621 |     |   |             3,147 |
| Other accrued expenses       |     |   |                876 |     |   |             1,060 |
|                              |     | $ |             23,403 |     | $ |            19,052 |

#### Note 10 - Product Warranties
We provide warranties on certain products and record a liability for the estimated future costs associated with warranty claims at the time revenue is recognized. The warranty liability is based on historical experience, any
12
specifically identified failures, and our estimate of future costs. The current portion of our product warranty liability is included in the accrued liabilities and the long-term portion is included in Other long-term liabilities in our Consolidated Balance Sheets.

Product warranty liability activity was as follows for the periods presented \(in thousands\):

|                                                     |     | Nine Months Ended September 30, |     |   |   2026 |     |   |   2025 |
|:----------------------------------------------------|:----|:--------------------------------|:----|:--|-------:|:----|:--|-------:|
| Product warranty liability, beginning               |     |                                 |     | $ |  4,263 |     | $ |  3,473 |
| Warranty charges incurred, net                      |     |                                 |     |   | -1,381 |     |   | -2,295 |
| Provision for warranty charges, net of adjustments  |     |                                 |     |   |    556 |     |   |  3,091 |
| Product warranty liability, ending                  |     |                                 |     |   |  3,438 |     |   |  4,269 |
| Less: current portion of product warranty liability |     |                                 |     |   | -2,621 |     |   | -3,103 |
| Non-current portion of product warranty liability   |     |                                 |     | $ |    817 |     | $ |  1,166 |

Note 11 - Stockholders' Equity and Stock-Based Compensation

Public Offering

In February 2026, we completed an underwritten public offering in which we issued and sold 4.6million shares of our common stock, resulting in gross proceeds of $ 201.3million. The aggregate number of shares of common stock offered in the offering included 0.6million shares of common stock sold pursuant to the full exercise of the underwriters' option to purchase additional shares. Net proceeds after the underwriting discount and offering costs were $ 191.3million.

Restricted Stock Units

Restricted stock unit \(RSU\) activity under our equity incentive plan was as follows:

|                             |     |           |     | Number of Restricted Stock Units                 \(Thousands\) |     |   | Weighted-Average Grant Date Fair Value |
|:----------------------------|:----|:----------|:----|-------------------------------------------------------------:|:----|:--|---------------------------------------:|
| Balance, December 31, 2025  |     |           |     |                                                        1,801 |     | $ |                                  14.69 |
|                             |     | Granted   |     |                                                          189 |     |   |                                  65.45 |
|                             |     | Vested    |     |                                                         -909 |     |   |                                  14.17 |
|                             |     | Forfeited |     |                                                          -72 |     |   |                                  18.24 |
| Balance, September 30, 2026 |     |           |     |                                                        1,009 |     |   |                                  24.41 |

The total fair value of RSUs vested during the nine months ended September 30, 2026, was $ 12.9million. RSUs vest over time subject to the employee's continuing service. During the three months ended June 30, 2026, $ 0.6million of previously equity-classified awards were settled in cash. As of September 30, 2026, no liability-classified awards were outstanding.

Market-Based Performance Restricted Stock Units

During the three months ended June 30, 2026, the payout factor for our market-based performance restricted stock units \(2023 PRSUs\) granted in 2023 was measured. The number of shares that a participant receives is equal to the number of PRSUs granted multiplied by a payout factor ranging from 0% to 200%. The performance criteria that determines the payout factor is our Total Shareholder Return \(TSR\) for a performance period of three yearsbeginning on April 1, 2023 relative to the TSR of companies in the Russell 2000 Index. The payout factor for our 2023 PRSUs was measured at 200%. The table below includes details regarding the measurement and vesting of our 2023 PRSUs and subsequent issuance of shares \(in thousands, except payout factor\):
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|                                            |     |            Fiscal Year Granted |
|                                            |     |                           2023 |
| 2023 PRSUs outstanding at measurement date |     |                            475 |
| Performance period                         |     | April 1, 2023 - March 31, 2026 |
| Vesting date                               |     |                   May 14, 2026 |
| Payout factor                              |     |                           200% |
| Number of shares issued                    |     |                            950 |

During the nine months ended September 30, 2026, noPRSU awards were granted. As of September 30, 2026, there were approximately 3.1million PRSU awards outstanding.

Stock Options

The following table summarizes our stock option activity during the nine months ended September 30, 2026:

|                                                                                        |     | Number of Options \(Thousands\) |     | Weighted-Average Exercise Price |     | Weighted-Average Remaining Contractual Term \(Years\) |     | Aggregate Intrinsic Value \(Thousands\) |
| Outstanding, December 31, 2025                                                         |     |                           611 |     |                           $1.53 |     |                                                 1.4 |     |                               $21,964 |
| Options exercised                                                                      |     |                          -575 |     |                            1.46 |     |                                                     |     |                                       |
| Outstanding, September 30, 2026                                                        |     |                            36 |     |                            2.75 |     |                                                 0.8 |     |                                 1,310 |
| Options exercisable at September 30, 2026                                              |     |                            36 |     |                            2.75 |     |                                                 0.8 |     |                                 1,310 |
| Options vested as of September 30, 2026, and expected to vest after September 30, 2026 |     |                            36 |     |                            2.75 |     |                                                 0.8 |     |                                 1,310 |

Total intrinsic value of options exercised for the nine months ended September 30, 2026 and 2025, was $ 27.7million and $ 2.3million, respectively. We received proceeds of $ 0.8million and $ 0.2million from the exercise of options for the nine months ended September 30, 2026 and 2025, respectively.

Stock-Based Compensation

Total stock-based compensation expense was included in our Consolidated Statements of Operations as follows \(in thousands\):

|                                   |     |   | Three Months Ended September 30, 
                             2026 |     |   |  2025 |     |   | Nine Months Ended September 30, 
                            2026 |     |   |   2025 |
|:----------------------------------|:----|:--|---------------------------------:|:----|:--|------:|:----|:--|--------------------------------:|:----|:--|-------:|
| Cost of revenues                  |     | $ |                            1,156 |     | $ |   615 |     | $ |                           3,427 |     | $ |  1,783 |
| Research and development          |     |   |                            2,496 |     |   | 2,560 |     |   |                           7,439 |     |   |  6,178 |
| Sales, general and administrative |     |   |                            6,263 |     |   | 6,187 |     |   |                          20,898 |     |   | 13,828 |
|                                   |     | $ |                            9,915 |     | $ | 9,362 |     | $ |                          31,764 |     | $ | 21,789 |

Unrecognized Compensation Costs

As of September 30, 2026, total unrecognized stock-based compensation was $ 61.4million, which will be recognized over an average expected recognition period of 1.9years.
14
#### Note 12 - Commitments and Contingencies
Leases

See Note 13.

Legal Matters

From time to time, we may be subject to various legal proceedings and claims in the ordinary course of business. As of September 30, 2026 we believe these matters will not have a material adverse effect on our consolidated financial statements.

#### Note 13 - Leases
We lease real estate space under non-cancelable operating lease agreements for commercial and industrial space. Facilities-related operating leases have remaining terms of 0.6to 8.7years, and some leases include options to extend up to 10years . Other leases for automobiles, manufacturing and office and computer equipment have remaining lease terms of 0.5to 4.3years. These leases are primarily operating leases; financing leases are not material. We did not include any renewal options in our lease terms for calculating the lease liabilities as we are not reasonably certain we will exercise the options at this time. The weighted-average remaining lease term for the lease obligations was 7years as of September 30, 2026, and the weighted-average discount rate was 6.4%.

The components of lease expense related to operating leases were as follows \(in thousands\):

| Lease expense:                   |     |   | Three Months Ended September 30, 
                             2026 |     |   |  2025 |     |   | Nine Months Ended September 30, 
                            2026 |     |   |  2025 |
|:---------------------------------|:----|:--|---------------------------------:|:----|:--|------:|:----|:--|--------------------------------:|:----|:--|------:|
| Operating lease expense          |     | $ |                              851 |     | $ |   756 |     | $ |                           2,792 |     | $ | 2,335 |
| Short-term lease expense         |     |   |                              151 |     |   |   129 |     |   |                             408 |     |   |   246 |
| Variable and other lease expense |     |   |                              338 |     |   |   282 |     |   |                             980 |     |   |   841 |
|                                  |     | $ |                            1,340 |     | $ | 1,167 |     | $ |                           4,180 |     | $ | 3,422 |

Future minimum payments under our non-cancelable lease obligations were as follows as of September 30, 2026 \(in thousands\):

| 2026                                        |     | $ |    885 |
| 2027                                        |     |   |  3,424 |
| 2028                                        |     |   |  3,444 |
| 2029                                        |     |   |  3,139 |
| 2030                                        |     |   |  3,217 |
| Thereafter                                  |     |   |  9,922 |
| Total minimum lease payments                |     |   | 24,031 |
| Less: interest                              |     |   | -4,779 |
| Present value of net minimum lease payments |     |   | 19,252 |
| Less: current portion of lease liabilities  |     |   | -2,362 |
| Total long-term lease liabilities           |     | $ | 16,890 |
15
#### Note 14 - Restructuring
During the three months ended September 30, 2026 we implemented a restructuring plan to shut down our business operations in China. The restructuring plan includes a headcount reduction, the write-down of long-lived assets, and the write-down of customer receivables. During the three and nine months ended September 30, 2026 we incurred restructuring charges of $ 7.5million and $ 7.8million, respectively. During the three months ended March 31, 2026, we incurred restructuring charges consisting of lease exit and termination costs related to excess manufacturing space. During the three months ended September 30, 2025 we implemented a restructuring plan which included a headcount reduction in China and the write-down of in-process capital equipment projects related to production capacity that was never placed into service.

Restructuring charges were as follows \(in thousands\):

|                                                          |     |   | Three Months Ended September 30, 
                             2026 |     |   |  2025 |     |   | Nine Months Ended September 30, 
                            2026 |     |   |  2025 |
|:---------------------------------------------------------|:----|:--|---------------------------------:|:----|:--|------:|:----|:--|--------------------------------:|:----|:--|------:|
| Employee termination costs                               |     | $ |                            4,524 |     | $ |   942 |     | $ |                           4,524 |     | $ |   942 |
| Write-down of long-lived assets and customer receivables |     |   |                            2,412 |     |   |   791 |     |   |                           2,412 |     |   |   791 |
| Other                                                    |     |   |                              526 |     |   |     — |     |   |                             821 |     |   |     — |
| Total restructuring charges                              |     | $ |                            7,462 |     | $ | 1,733 |     | $ |                           7,757 |     | $ | 1,733 |

Restructuring accruals and payments were as follows \(in thousands\):

| Accrued restructuring charges at December 31, 2024 |     | $ | 1,122 |        |
| Restructuring charges                              |     |   |       |  2,348 |
| Cash payments                                      |     |   |       | -2,045 |
| Non-cash settlements                               |     |   |       | -1,207 |
| Accrual at December 31, 2025                       |     |   |   218 |        |
| Restructuring charges                              |     |   |       |  7,757 |
| Cash payments                                      |     |   |       | -3,157 |
| Non-cash settlements                               |     |   |       | -2,683 |
| Accrual at September 30, 2026                      |     | $ | 2,135 |        |

The restructuring accrual was included as a component of Accrued Liabilities on our Consolidated Balance Sheets. All of the restructuring charges recorded in 2026 were attributable to the Laser Products segment.

#### Note 15 - Segment Information
We operate in tworeportable segments consisting of the Laser Products segment and the Advanced Development segment. We organize our business segments based on the nature of products and services offered.

Laser Products

This segment includes the design, development, production and integration of high-power semiconductor lasers and fiber lasers and related components, modules and subsystems that are typically integrated into laser systems or manufacturing tools built by us or our customers for use in a range of commercial and defense applications. This segment also includes fiber amplifiers and beam combination and control systems for use in high-energy laser \(HEL\) systems in directed energy applications, and laser sensing products used in a wide range of defense applications.

Advanced Development

This segment focuses on technology integration as well as research, design, and prototyping of next-generation laser technologies for the defense industry, including the development of custom high-power fiber lasers and advanced beam combining technologies.

Segment Financial Data
16
Our Chief Executive Officer serves as the chief operating decision maker \(CODM\) and is responsible for reviewing segment performance and making decisions regarding resource allocation. Our CODM uses revenue, gross profit, and gross margin to evaluate each segment's performance by comparing the metrics to historical results and previously forecasted financial information. Segment gross profit is the primary measure of segment profit or loss, and cost of revenue is the only significant expense category, and therefore we have no other segment items. In addition, our CODM does not evaluate operating segments using asset or liability information. The following table summarizes the operating results by reportable segment for the periods presented \(dollars in thousands\):

|                                   |     |   | Three Months Ended September 30, 
                             2026 
                   Laser Products |   |     |   | Advanced Development |   |     |   |   Total |     |   |           2025 
 Laser Products |   |     |   | Advanced Development |   |     |   |   Total |
|:----------------------------------|:----|:--|---------------------------------:|:--|:----|:--|---------------------:|:--|:----|:--|--------:|:----|:--|---------------:|:--|:----|:--|---------------------:|:--|:----|:--|--------:|
| Revenue                           |     | $ |                           48,047 |   |     | $ |               25,716 |   |     | $ |  73,763 |     | $ |         47,608 |   |     | $ |               19,134 |   |     | $ |  66,742 |
| Cost of revenue                   |     |   |                          -24,602 |   |     |   |              -23,574 |   |     |   |         |     |   |        -27,471 |   |     |   |              -17,903 |   |     |   |         |
| Segment gross profit              |     | $ |                           23,445 |   |     | $ |                2,142 |   |     | $ |  25,587 |     | $ |         20,137 |   |     | $ |                1,231 |   |     | $ |  21,368 |
| Segment gross margin              |     |   |                             48.8 | % |     |   |                  8.3 | % |     |   |         |     |   |           42.3 | % |     |   |                  6.4 | % |     |   |         |
| Other cost of revenue             |     |   |                                  |   |     |   |                      |   |     |   |   1,156 |     |   |                |   |     |   |                      |   |     |   |     615 |
| Gross profit                      |     |   |                                  |   |     |   |                      |   |     |   |  24,431 |     |   |                |   |     |   |                      |   |     |   |  20,753 |
| Total operating expenses          |     |   |                                  |   |     |   |                      |   |     |   | -33,650 |     |   |                |   |     |   |                      |   |     |   | -28,052 |
| Interest income                   |     |   |                                  |   |     |   |                      |   |     |   |   2,456 |     |   |                |   |     |   |                      |   |     |   |   1,079 |
| Interest expense                  |     |   |                                  |   |     |   |                      |   |     |   |     -25 |     |   |                |   |     |   |                      |   |     |   |    -317 |
| Other income, net                 |     |   |                                  |   |     |   |                      |   |     |   |     -72 |     |   |                |   |     |   |                      |   |     |   |     -64 |
| Income \(loss\) before income taxes |     |   |                                  |   |     |   |                      |   |     | $ |  -6,860 |     |   |                |   |     |   |                      |   |     | $ |  -6,601 |

|                                   |     |   | Nine Months Ended September 30, 
                            2026 
                  Laser Products |   |     |   | Advanced Development |   |     |   |   Total |     |   |           2025 
 Laser Products |   |     |   | Advanced Development |   |     |   |   Total |
|:----------------------------------|:----|:--|--------------------------------:|:--|:----|:--|---------------------:|:--|:----|:--|--------:|:----|:--|---------------:|:--|:----|:--|---------------------:|:--|:----|:--|--------:|
| Revenue                           |     | $ |                         165,612 |   |     | $ |               70,923 |   |     | $ | 236,535 |     | $ |        124,110 |   |     | $ |               56,035 |   |     | $ | 180,145 |
| Cost of revenue                   |     |   |                         -90,989 |   |     |   |              -65,450 |   |     |   |         |     |   |        -75,132 |   |     |   |              -50,221 |   |     |   |         |
| Segment gross profit              |     | $ |                          74,623 |   |     | $ |                5,473 |   |     | $ |  80,096 |     | $ |         48,978 |   |     | $ |                5,814 |   |     | $ |  54,792 |
| Segment gross margin              |     |   |                            45.1 | % |     |   |                  7.7 | % |     |   |         |     |   |           39.5 | % |     |   |                 10.4 | % |     |   |         |
| Other cost of revenue             |     |   |                                 |   |     |   |                      |   |     |   |   3,427 |     |   |                |   |     |   |                      |   |     |   |   1,783 |
| Gross profit                      |     |   |                                 |   |     |   |                      |   |     |   |  76,669 |     |   |                |   |     |   |                      |   |     |   |  53,009 |
| Total operating expenses          |     |   |                                 |   |     |   |                      |   |     |   | -90,174 |     |   |                |   |     |   |                      |   |     |   | -74,154 |
| Interest income                   |     |   |                                 |   |     |   |                      |   |     |   |   6,492 |     |   |                |   |     |   |                      |   |     |   |   3,875 |
| Interest expense                  |     |   |                                 |   |     |   |                      |   |     |   |    -529 |     |   |                |   |     |   |                      |   |     |   |    -753 |
| Other income, net                 |     |   |                                 |   |     |   |                      |   |     |   |     116 |     |   |                |   |     |   |                      |   |     |   |    -108 |
| Income \(loss\) before income taxes |     |   |                                 |   |     |   |                      |   |     | $ |  -7,426 |     |   |                |   |     |   |                      |   |     | $ | -18,131 |

Other cost of revenue consists of stock-based compensation expense, which is not used in evaluating the results of, or in the allocation of resources to, our reportable segments.

There have been no material changes to the geographic locations of our long-lived assets, net, based on the location of the assets, as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025.

#### Note 16 - Net Loss per Share
Basic and diluted net loss and the number of shares used for basic and diluted net loss calculations were the same for all periods presented because we were in a loss position.
17
The following potentially dilutive securities were not included in the calculation of diluted shares as the effect would have been anti‑dilutive \(in thousands\):

|                        |     | Three Months Ended September 30, |     |       |     | Nine Months Ended September 30, |     |       |
|                        |     |                             2026 |     |  2025 |     |                            2026 |     |  2025 |
| Restricted stock units |     |                            4,001 |     | 3,523 |     |                           4,758 |     | 2,616 |
| Common stock options   |     |                              258 |     |   616 |     |                             422 |     |   643 |
|                        |     |                            4,259 |     | 4,139 |     |                           5,180 |     | 3,259 |
18
## ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

#### SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "ability," "anticipate," "attempt," "believe," "can be," "continue," "could," "depend," "enable," "estimate," "expect," "extend," "grow," "if," "intend," "likely," "may," "objective," "ongoing," "plan," "possible," "potential," "predict," "project," "propose," "rely," "should," "target," "will," "would" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

These statements involve risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements include, but are not limited to, statements about: our business model and strategic plans; our expectations regarding manufacturing; our future financial performance; demand for our semiconductor and fiber laser solutions; our ability to develop innovative products; our expectations regarding product volumes and the introduction of new products; our technology and new product research and development activities; the impact of U.S. government budget and appropriations processes, including continuing resolutions and potential government shutdowns; the impact of new import and export controls; the impact of changes in regulations and customs, tariffs and trade barriers, or the perception that any of them could occur; the impact of ongoing supply chain disruptions; our restructuring of China operations; the impact of inflation; the impact of seasonality; the effect on our business of litigation to which we are or may become a party; and the sufficiency of our existing liquidity sources to meet our cash needs.

You should refer to the "Risk Factors" section of this report for a discussion of other important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. As a result of these factors, we cannot assure you that the forward-looking statements in this report will prove to be accurate. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this report, which although we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted a thorough inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

#### Overview
nLIGHT, Inc. is a leading provider of high‑power lasers for mission-critical directed energy, optical sensing, and advanced manufacturing applications. We design, develop, manufacture, integrate and sell a range of high-power semiconductor and fiber lasers that are typically integrated into laser systems or manufacturing tools built by us or our customers. We also make high energy pulsed fiber lasers, fiber amplifiers, and beam combination and control systems for use in high-energy laser systems for directed energy and laser sensing systems for use in a wide range of commercial and defense applications. Our long history of commercial technology development and vertical integration enables us to develop products that leverage the same underlying technology across a variety of applications and markets, thereby enabling us to deliver innovative and reliable products to customers in each of our end markets.
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We sell our products into two primary end markets: Defense & Space and Advanced Manufacturing. Beginning with the quarter ended September 30, 2026, we present revenue in two end markets: Defense & Space, which consists of revenue previously reported as Aerospace and Defense, and Advanced Manufacturing, which combines our former Industrial and Microfabrication end markets, and includes semiconductor and fiber laser products sold into a variety of end markets including additive manufacturing. We made this change to better reflect how management views our customer base. Prior-period amounts have been recast to conform to the current presentation. The change had no effect on total revenue or segment reporting.

We operate in two reportable segments consisting of the Laser Products segment and the Advanced Development segment.

Revenues increased to $236.5 million in the nine months ended September 30, 2026 compared to $180.1 million in the same period in 2025 due primarily to an increase in both product and development revenue from the Defense & Space end market. We incurred a net loss of $7.9 million for the nine months ended September 30, 2026 compared to a net loss of $18.6 million for the same period in 2025.

#### Factors Affecting Our Performance

#### Demand for our Products and Solutions
Our revenue depends largely on market conditions, competitive pressure, and achievement of design wins. We consider a design win to occur when a customer notifies us that it has selected one of our products to be incorporated into a product or system under development by such customer. In the Defense & Space market, our business also depends in large part on continued investment in laser technology by the U.S. government and its allies, and our ability to continue to successfully develop leading technology in this area and commercialize that technology in the future. Certain of our U.S. government programs are currently funded under a continuing resolution that expires on December 11, 2026. A further lapse in appropriations, or an extended period of funding under continuing resolutions, could delay U.S. government procurements, contract awards, deliveries and payments and adversely affect our results of operations.

Demand for our products also fluctuates based on market cycles, continuously evolving industry supply chains, trade and tariff terms, as well as evolving competitive dynamics in each of our end-markets. Erosion of ASPs of established products is typical in our industry, and the ASPs of our products generally decrease as our products mature. We may also negotiate discounted selling prices from time to time with certain customers that purchase higher volumes, or to penetrate new markets or applications.

#### Technology and New Product Development
We invest heavily in the development of our semiconductor, fiber laser, directed energy, and laser-sensing technologies to provide solutions to our current and future customers. We anticipate that we will continue to invest in research and development to achieve our technology and product roadmap. Our product development is targeted to specific sectors of the market where we believe the performance of our products provides a significant benefit to our customers. We believe our close coordination with our customers regarding their future product requirements enhances the efficiency of our research and development expenditures.

#### Manufacturing Costs and Gross Margins
Product gross profit, in absolute dollars and gross margin, may fluctuate from period to period based on product sales mix, sales volumes, changes in ASPs, production volumes, the corresponding absorption of manufacturing overhead expenses, the cost of purchased materials, production costs and manufacturing yields. Product sales mix can affect gross profits due to variations in profitability related to product configurations and cost profiles, customer volume pricing, availability of competitive products in various markets, and new product introductions, among other factors. Even though certain of our products are built offshore by contract manufacturers, capacity utilization affects gross margin because of the fixed cost associated with our U.S.-based manufacturing capabilities. Change in sales and production volumes impact absorption of fixed costs, manufacturing efficiencies and production costs.

Our Development gross profit varies with the type and terms of contracts, contract volume, project mix, changes in the estimated cost of projects at completion, and successful execution on projects during the period. Most of our Development contracts have historically been structured as cost plus fixed fee due to the technical complexity of the
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research and development services, but we also perform work under fixed price contracts where gross margin can change from period to period based on the estimated cost of the project at completion.

#### Seasonality
Our quarterly revenues can fluctuate with general economic trends, the timing of capital expenditures by our customers and holidays. In addition, as is typical in our industry, we tend to recognize a larger percentage of our quarterly revenues in the last month of the quarter, which may impact our working capital trends.

#### Global Economic Conditions and Trade Policies
We sell our products globally, and a portion of our sales are generated from products that are manufactured outside the United States or rely on components from suppliers who are located outside of the United States. Changing trade dynamics, including changes in tariffs, export regulations, and customs enforcement, could disrupt our supply chain and production, disrupt customer sales, and increase input costs. We continue to monitor macroeconomic trends, global inflationary pressures, and uncertainties related to international trade policy, including tariff actions and regulatory shifts.

For example, in February 2026, the U.S. Supreme Court issued a ruling invalidating certain tariffs previously imposed under the International Emergency Economic Powers Act \(IEEPA\). In March 2026, the U.S. Court of International Trade issued an additional ruling stating that importers that have paid tariffs under IEEPA are due refunds. In addition, in June 2026, China implemented enhanced export declaration requirements for certain machine tools, unmanned aerial systems, and related components. These new requirements impose more stringent documentation, classification, and reporting obligations on exporters that have resulted in increased compliance costs and longer customs clearance times.

Changes in global economic conditions and international trade negatively impacted our revenue and operating results in the three and nine months ended September 30, 2026, as components from certain key suppliers in China were held in customs in China along with shipments from nLIGHT, Inc. to certain customers in China. During the third quarter of 2026 we initiated a variety of mitigation strategies to secure the components and materials needed to manufacture our products, all of which are ongoing. If we are unable to effectively mitigate these supply chain disruptions, we expect them to increase our operational complexity, continue to disrupt our production and have a material negative impact on our revenue, cost, and profitability in future periods.

#### Results of Operations
The following table sets forth our operating results as a percentage of revenues for the periods indicated \(which may not add up due to rounding\):
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|                                    |     | Three Months Ended September 30, |   |     |       |   |     | Nine Months Ended September 30, |   |     |       |   |
|                                    |     |                             2026 |   |     |  2025 |   |     |                            2026 |   |     |  2025 |   |
| Revenue:                           |     |                                  |   |     |       |   |     |                                 |   |     |       |   |
| Products                           |     |                             65.1 | % |     |  71.3 | % |     |                            70.0 | % |     |  68.9 | % |
| Development                        |     |                             34.9 |   |     |  28.7 |   |     |                            30.0 |   |     |  31.1 |   |
| Total revenue                      |     |                            100.0 |   |     | 100.0 |   |     |                           100.0 |   |     | 100.0 |   |
| Cost of revenue:                   |     |                                  |   |     |       |   |     |                                 |   |     |       |   |
| Products                           |     |                             34.3 |   |     |  42.1 |   |     |                            39.3 |   |     |  42.7 |   |
| Development                        |     |                             32.6 |   |     |  26.8 |   |     |                            28.3 |   |     |  27.9 |   |
| Total cost of revenue              |     |                             66.9 |   |     |  68.9 |   |     |                            67.6 |   |     |  70.6 |   |
| Gross profit                       |     |                             33.1 |   |     |  31.1 |   |     |                            32.4 |   |     |  29.4 |   |
| Operating expenses:                |     |                                  |   |     |       |   |     |                                 |   |     |       |   |
| Research and development           |     |                             17.0 |   |     |  17.3 |   |     |                            15.9 |   |     |  18.8 |   |
| Sales, general, and administrative |     |                             18.5 |   |     |  22.1 |   |     |                            19.0 |   |     |  21.4 |   |
| Restructuring                      |     |                             10.1 |   |     |   2.6 |   |     |                             3.3 |   |     |   1.0 |   |
| Total operating expenses           |     |                             45.6 |   |     |  42.0 |   |     |                            38.2 |   |     |  41.2 |   |
| Loss from operations               |     |                            -12.5 |   |     | -10.9 |   |     |                            -5.8 |   |     | -11.8 |   |
| Other income:                      |     |                                  |   |     |       |   |     |                                 |   |     |       |   |
| Interest income                    |     |                              3.3 |   |     |   1.6 |   |     |                             2.8 |   |     |   2.2 |   |
| Interest expense                   |     |                             -0.1 |   |     |  -0.5 |   |     |                            -0.2 |   |     |  -0.4 |   |
| Other income \(expense\), net        |     |                                — |   |     |  -0.1 |   |     |                               — |   |     |  -0.1 |   |
| Loss before income taxes           |     |                             -9.3 |   |     |  -9.9 |   |     |                            -3.2 |   |     | -10.1 |   |
| Income tax expense                 |     |                              0.4 |   |     |   0.4 |   |     |                             0.2 |   |     |   0.2 |   |
| Net loss                           |     |                             -9.7 | % |     | -10.3 | % |     |                            -3.4 | % |     | -10.3 | % |

#### Revenues by End Market
Our revenues by end market were as follows for the periods presented \(dollars in thousands\):

|                        |     |   | Three Months Ended September 30, |     |              |   |     |   |        |     |              |   |     |   | Change |     |      |   |
|:-----------------------|:----|:--|---------------------------------:|:----|-------------:|:--|:----|:--|-------:|:----|-------------:|:--|:----|:--|-------:|:----|-----:|:--|
|                        |     |   |                             2026 |     | % of Revenue |   |     |   |   2025 |     | % of Revenue |   |     |   |      $ |     |    % |   |
| Defense & Space        |     | $ |                           52,460 |     |         71.1 | % |     | $ | 45,554 |     |         68.3 | % |     | $ |  6,906 |     | 15.2 | % |
| Advanced Manufacturing |     |   |                           21,303 |     |         28.9 |   |     |   | 21,188 |     |         31.7 |   |     |   |    115 |     |  0.5 |   |
|                        |     | $ |                           73,763 |     |        100.0 | % |     | $ | 66,742 |     |        100.0 | % |     | $ |  7,021 |     | 10.5 | % |

|                        |     |   | Nine Months Ended September 30, 
                            2026 |     | % of Revenue |   |     |   |    2025 |     | % of Revenue |   |     |   | Change 
 Amount |     |    % |   |
|:-----------------------|:----|:--|--------------------------------:|:----|-------------:|:--|:----|:--|--------:|:----|-------------:|:--|:----|:--|-------:|:----|-----:|:--|
| Defense & Space        |     | $ |                         164,885 |     |         69.7 | % |     | $ | 118,955 |     |         66.0 | % |     | $ | 45,930 |     | 38.6 | % |
| Advanced Manufacturing |     |   |                          71,650 |     |         30.3 |   |     |   |  61,190 |     |         34.0 |   |     |   | 10,460 |     | 17.1 |   |
|                        |     | $ |                         236,535 |     |        100.0 | % |     | $ | 180,145 |     |        100.0 | % |     | $ | 56,390 |     | 31.3 | % |

The increases in revenue from the Defense & Space end market for the three and nine months ended September 30, 2026, compared to the same periods in 2025, were driven primarily by increased unit sales of directed energy laser products, increased unit sales of laser components for defense programs, and progress on both new and existing research and development contracts. The increase in revenue from the Advanced Manufacturing end market for the three and nine months ended September 30, 2026 compared to the same periods in 2025 was primarily attributable to increased unit sales of semiconductor lasers and fiber lasers to additive manufacturing customers, partially offset by decreased unit sales of fiber lasers to cutting and welding customers.
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#### Revenues by Segment
Our revenues by segment were as follows for the periods presented \(dollars in thousands\):

|                      |     |   | Three Months Ended September 30, |     |              |   |     |   |        |     |              |   |     |   | Change |     |      |   |
|:---------------------|:----|:--|---------------------------------:|:----|-------------:|:--|:----|:--|-------:|:----|-------------:|:--|:----|:--|-------:|:----|-----:|:--|
|                      |     |   |                             2026 |     | % of Revenue |   |     |   |   2025 |     | % of Revenue |   |     |   |      $ |     |    % |   |
| Laser Products       |     | $ |                           48,047 |     |         65.1 | % |     | $ | 47,608 |     |         71.3 | % |     | $ |    439 |     |  0.9 | % |
| Advanced Development |     |   |                           25,716 |     |         34.9 |   |     |   | 19,134 |     |         28.7 |   |     |   |  6,582 |     | 34.4 |   |
|                      |     | $ |                           73,763 |     |        100.0 | % |     | $ | 66,742 |     |        100.0 | % |     | $ |  7,021 |     | 10.5 | % |

|                      |     |   | Nine Months Ended September 30, 
                            2026 |     | % of Revenue |   |     |   |    2025 |     | % of Revenue |   |     |   | Change 
 Amount |     |    % |   |
|:---------------------|:----|:--|--------------------------------:|:----|-------------:|:--|:----|:--|--------:|:----|-------------:|:--|:----|:--|-------:|:----|-----:|:--|
| Laser Products       |     | $ |                         165,612 |     |         70.0 | % |     | $ | 124,110 |     |         68.9 | % |     | $ | 41,502 |     | 33.4 | % |
| Advanced Development |     |   |                          70,923 |     |         30.0 |   |     |   |  56,035 |     |         31.1 |   |     |   | 14,888 |     | 26.6 |   |
|                      |     | $ |                         236,535 |     |        100.0 | % |     | $ | 180,145 |     |        100.0 | % |     | $ | 56,390 |     | 31.3 | % |

The increases in Laser Products revenue for the three and nine months ended September 30, 2026 compared to the same periods in 2025 were the result of increased unit sales across all end markets. The increases in Advanced Development revenue for the three and nine months ended September 30, 2026, compared to the same periods in 2025, were driven by progress on new and existing research and development contracts. All Advanced Development revenue is included in the Defense & Space market.

#### Revenues by Geographic Region
Our revenues by geographic region were as follows for the periods presented \(dollars in thousands\):

|               |     |   | Three Months Ended September 30, |     |              |   |     |   |        |     |              |   |     |   | Change |     |      |   |
|:--------------|:----|:--|---------------------------------:|:----|-------------:|:--|:----|:--|-------:|:----|-------------:|:--|:----|:--|-------:|:----|-----:|:--|
|               |     |   |                             2026 |     | % of Revenue |   |     |   |   2025 |     | % of Revenue |   |     |   |      $ |     |    % |   |
| North America |     | $ |                           52,122 |     |         70.7 | % |     | $ | 46,682 |     |         69.9 | % |     | $ |  5,440 |     | 11.7 | % |
| Asia Pacific  |     |   |                            9,696 |     |         13.1 |   |     |   |  9,280 |     |         13.9 |   |     |   |    416 |     |  4.5 |   |
| EMEA\(1\)       |     |   |                           11,945 |     |         16.2 |   |     |   | 10,780 |     |         16.2 |   |     |   |  1,165 |     | 10.8 |   |
|               |     | $ |                           73,763 |     |        100.0 | % |     | $ | 66,742 |     |        100.0 | % |     | $ |  7,021 |     | 10.5 | % |

|               |     |   | Nine Months Ended September 30, 
                            2026 |     | % of Revenue |   |     |   |    2025 |     | % of Revenue |   |     |   | Change 
 Amount |     |    % |   |
|:--------------|:----|:--|--------------------------------:|:----|-------------:|:--|:----|:--|--------:|:----|-------------:|:--|:----|:--|-------:|:----|-----:|:--|
| North America |     | $ |                         170,875 |     |         72.2 | % |     | $ | 127,938 |     |         71.0 | % |     | $ | 42,937 |     | 33.6 | % |
| Asia Pacific  |     |   |                          30,754 |     |         13.0 |   |     |   |  27,070 |     |         15.0 |   |     |   |  3,684 |     | 13.6 |   |
| EMEA\(1\)       |     |   |                          34,906 |     |         14.8 |   |     |   |  25,137 |     |         14.0 |   |     |   |  9,769 |     | 38.9 |   |
|               |     | $ |                         236,535 |     |        100.0 | % |     | $ | 180,145 |     |        100.0 | % |     | $ | 56,390 |     | 31.3 | % |

\(1\) EMEA consists of Europe, the Middle East, and Africa.

Geographic revenue information is based on the location to which we ship our products.

The increase in North America revenues for the three months ended September 30, 2026 compared to the same period in 2025, was due to increased revenue from the Defense & Space end market, partially offset by a decrease from the Advanced Manufacturing end market. The increase in North America revenues for the nine months ended September 30, 2026 compared to the same period in 2025, was due to increased revenue across all end markets, with revenue from the Defense & Space end market representing most of the increase.
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The increase in Asia Pacific revenues for the three months ended September 30, 2026 compared to the same period in 2025, was due to increased revenue from the Advanced Manufacturing end market, partially offset by a decrease from the Defense & Space end market. The increase in Asia Pacific revenues for the nine months ended September 30, 2026 compared to the same period in 2025, was due to increased revenue across all end markets.

The increases in EMEA revenues for the three and nine months ended September 30, 2026 compared to the same periods in 2025, were due to increased revenue across all end markets.

#### Cost of Revenues and Gross Margin
Cost of Laser Products revenue consists primarily of manufacturing materials, labor, shipping and handling costs, tariffs and manufacturing-related overhead. We order materials and supplies based on backlog and forecasted demand from our customers. We expense all warranty costs and inventory provisions as cost of revenues.

Cost of Advanced Development revenue consists of materials, labor, subcontracting costs, and an allocation of indirect costs including overhead and general and administrative.

Our gross profit and gross margin were as follows for the periods presented \(dollars in thousands\):

|              |     |   | Three Months Ended September 30, 
                             2026 
                         Products |   |     |   | Development |   |     |   |  Total |   |     |   |     2025 
 Products |   |     |   | Development |   |     |   |  Total |   |
|:-------------|:----|:--|---------------------------------:|:--|:----|:--|------------:|:--|:----|:--|-------:|:--|:----|:--|---------:|:--|:----|:--|------------:|:--|:----|:--|-------:|:--|
| Gross profit |     | $ |                           22,758 |   |     | $ |       1,673 |   |     | $ | 24,431 |   |     | $ |   19,522 |   |     | $ |       1,231 |   |     | $ | 20,753 |   |
| Gross margin |     |   |                             47.4 | % |     |   |         6.5 | % |     |   |   33.1 | % |     |   |     41.0 | % |     |   |         6.4 | % |     |   |   31.1 | % |

|              |     |   | Nine Months Ended September 30, 
                            2026 
                        Products |   |     |   | Development |   |     |   |  Total |   |     |   |     2025 
 Products |   |     |   | Development |   |     |   |  Total |   |
|:-------------|:----|:--|--------------------------------:|:--|:----|:--|------------:|:--|:----|:--|-------:|:--|:----|:--|---------:|:--|:----|:--|------------:|:--|:----|:--|-------:|:--|
| Gross profit |     | $ |                          72,584 |   |     | $ |       4,085 |   |     | $ | 76,669 |   |     | $ |   47,195 |   |     | $ |       5,814 |   |     | $ | 53,009 |   |
| Gross margin |     |   |                            43.8 | % |     |   |         5.8 | % |     |   |   32.4 | % |     |   |     38.0 | % |     |   |        10.4 | % |     |   |   29.4 | % |

The increase in Laser Products gross margin for the three and nine months ended September 30, 2026 compared to the same periods in 2025 was driven primarily by product sales mix, decreased inventory and warranty reserve charges, and the impact of increased production volumes on fixed manufacturing costs driven by demand. The increase in development gross margin for the three months ended September 30, 2026 compared to the same period in 2025 is attributable to changes in the mix of research and development contracts. The decrease in development gross margin for the nine months ended September 30, 2026 compared to the same period in 2025 was primarily the result of an increase in revenue from cost-plus fixed fee \(CPFF\) contracts relative to firm fixed price \(FFP\) contracts. Our CPFF contracts generally have a lower average gross margin than our FFP contracts.

#### Operating Expenses
Our operating expenses were as follows for the periods presented \(dollars in thousands\):

Research and Development

|                          |     |   | Three Months Ended September 30, |     |   |        |     |   | Change |     |     |   |
|:-------------------------|:----|:--|---------------------------------:|:----|:--|-------:|:----|:--|-------:|:----|----:|:--|
|                          |     |   |                             2026 |     |   |   2025 |     |   |      $ |     |   % |   |
| Research and development |     | $ |                           12,535 |     | $ | 11,534 |     | $ |  1,001 |     | 8.7 | % |

|                          |     |   | Nine Months Ended September 30, 
                            2026 |     |   |   2025 |     |   | Change 
 Amount |     |    % |   |
|:-------------------------|:----|:--|--------------------------------:|:----|:--|-------:|:----|:--|-------:|:----|-----:|:--|
| Research and development |     | $ |                          37,511 |     | $ | 33,920 |     | $ |  3,591 |     | 10.6 | % |
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The increases in research and development expense for the three and nine months ended September 30, 2026 compared to the same periods in 2025 were primarily attributable to increased employee compensation driven by higher headcount. The increase in research and development expense for the nine months ended September 30, 2026 is also attributable to an increase in stock-based compensation of $1.3 million.

Sales, General and Administrative

|                                    |     |   | Three Months Ended September 30, |     |   |        |     |   | Change |     |      |   |
|:-----------------------------------|:----|:--|---------------------------------:|:----|:--|-------:|:----|:--|-------:|:----|-----:|:--|
|                                    |     |   |                             2026 |     |   |   2025 |     |   |      $ |     |    % |   |
| Sales, general, and administrative |     | $ |                           13,653 |     | $ | 14,785 |     | $ | -1,132 |     | -7.7 | % |

|                                    |     |   | Nine Months Ended September 30, 
                            2026 |     |   |   2025 |     |   | Change 
 Amount |     |    % |   |
|:-----------------------------------|:----|:--|--------------------------------:|:----|:--|-------:|:----|:--|-------:|:----|-----:|:--|
| Sales, general, and administrative |     | $ |                          44,906 |     | $ | 38,501 |     | $ |  6,405 |     | 16.6 | % |

The decrease in sales, general and administrative expense for the three months ended September 30, 2026, compared to the same period in 2025, was driven primarily by a higher allocation of costs from sales, general and administrative to development projects. The increase in sales, general and administrative expense for the nine months ended September 30, 2026, compared to the same period in 2025, was driven primarily by an increase in stock-based compensation of $7.1 million, increased employee compensation, and decreased bad debt recoveries, partially offset by a higher allocation of costs from sales, general and administrative to development projects.
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#### Restructuring
Restructuring included the following \(in thousands\):

|                                                          |     |   | Three Months Ended September 30, |     |   |       |     |   | Change |     |        |
|:---------------------------------------------------------|:----|:--|---------------------------------:|:----|:--|------:|:----|:--|-------:|:----|:-------|
|                                                          |     |   |                             2026 |     |   |  2025 |     |   |      $ |     | %      |
| Employee termination costs                               |     | $ |                            4,524 |     | $ |   942 |     | $ |  3,582 |     | 380.3% |
| Write-down of long-lived assets and customer receivables |     |   |                            2,412 |     |   |   791 |     |   |  1,621 |     | 204.9% |
| Other                                                    |     |   |                              526 |     |   |     — |     |   |    526 |     | NM\*    |
| Total restructuring charges                              |     | $ |                            7,462 |     | $ | 1,733 |     | $ |  5,729 |     | 330.6% |

|                                                          |     |   | Nine Months Ended September 30, |     |   |       |     |   | Change |     |        |
|:---------------------------------------------------------|:----|:--|--------------------------------:|:----|:--|------:|:----|:--|-------:|:----|:-------|
|                                                          |     |   |                            2026 |     |   |  2025 |     |   |      $ |     | %      |
| Employee termination costs                               |     | $ |                           4,524 |     | $ |   942 |     | $ |  3,582 |     | 380.3% |
| Write-down of long-lived assets and customer receivables |     |   |                           2,412 |     |   |   791 |     |   |  1,621 |     | 204.9% |
| Other                                                    |     |   |                             821 |     |   |     — |     |   |    821 |     | NM\*    |
| Total restructuring charges                              |     | $ |                           7,757 |     | $ | 1,733 |     | $ |  6,024 |     | 347.6% |

\*NM - Not meaningful

During the third quarter we implemented a restructuring plan that shut down nearly all of our business operations in China. This restructuring plan directly included a headcount reduction, the write-down of long-lived assets, and the write-down of customer receivables. During the three months ended March 31, 2026 we incurred restructuring charges consisting of lease exit and termination costs related to excess manufacturing space. During the three months ended September 30, 2025 we implemented restructuring plans which included headcount reduction in China and the write-down of in-process capital equipment projects related to production capacity that was never placed into service.

#### Interest Income
|                 |     |   | Three Months Ended September 30, |     |   |       |     |   | Change |     |        |
|:----------------|:----|:--|---------------------------------:|:----|:--|------:|:----|:--|-------:|:----|:-------|
|                 |     |   |                             2026 |     |   |  2025 |     |   |      $ |     | %      |
| Interest income |     | $ |                            2,456 |     | $ | 1,079 |     | $ |  1,377 |     | 127.6% |

|                 |     |   | Nine Months Ended September 30, 
                            2026 |     |   |  2025 |     |   | Change 
 Amount |     |    % |   |
|:----------------|:----|:--|--------------------------------:|:----|:--|------:|:----|:--|-------:|:----|-----:|:--|
| Interest income |     | $ |                           6,492 |     | $ | 3,875 |     | $ |  2,617 |     | 67.5 | % |

The increases in interest income for the three and nine months ended September 30, 2026, compared to the same periods in 2025, were driven primarily by an increase in the average balance of cash, cash equivalents and marketable securities.

Interest income is primarily earned from our marketable securities \(U.S. treasuries\), recognized using the effective yield method, and cash equivalents \(money market securities\).
26
#### Interest expense
|                  |     |   | Three Months Ended September 30, |     |   |      |     |   | Change |     |         |
|:-----------------|:----|:--|---------------------------------:|:----|:--|-----:|:----|:--|-------:|:----|:--------|
|                  |     |   |                             2026 |     |   | 2025 |     |   |      $ |     | %       |
| Interest expense |     | $ |                              -25 |     | $ | -317 |     | $ |    292 |     | \(92.1\)% |

|                  |     |   | Nine Months Ended September 30, 
                            2026 |     |   | 2025 |     |   | Change 
 Amount |     | %       |
|:-----------------|:----|:--|--------------------------------:|:----|:--|-----:|:----|:--|-------:|:----|:--------|
| Interest expense |     | $ |                            -529 |     | $ | -753 |     | $ |    224 |     | \(29.7\)% |

The decreases in interest expense for the three and nine months ended September 30, 2026, compared to the same periods in 2025, were primarily driven by the timing of our borrowing and repayment of $20.0 million under the line of credit \(LOC\). During the three months ended March 31, 2025, we drew $20.0 million under the LOC. During the three months ended June 30, 2026, we repaid the $20.0 million LOC balance. Interest expense on the LOC was immaterial and $0.5 million for the three and nine months ended September 30, 2026, respectively.

#### Other Income, net
|                             |     |   | Three Months Ended September 30, |     |   |      |     |   | Change |     |      |   |
|:----------------------------|:----|:--|---------------------------------:|:----|:--|-----:|:----|:--|-------:|:----|-----:|:--|
|                             |     |   |                             2026 |     |   | 2025 |     |   |      $ |     |    % |   |
| Other income \(expense\), net |     | $ |                              -72 |     | $ |  -64 |     | $ |     -8 |     | 12.5 | % |

|                             |     |   | Nine Months Ended September 30, 
                            2026 |     |   | 2025 |     |   | Change 
 Amount |     |      % |   |
|:----------------------------|:----|:--|--------------------------------:|:----|:--|-----:|:----|:--|-------:|:----|-------:|:--|
| Other income \(expense\), net |     | $ |                             116 |     | $ | -108 |     | $ |    224 |     | -207.4 | % |

Other income, net is primarily attributable to changes in net realized and unrealized foreign exchange transactions resulting from currency rate fluctuations.

#### Income Tax Expense
|                    |     |   | Three Months Ended September 30, |     |   |      |     |   | Change |     |      |   |
|:-------------------|:----|:--|---------------------------------:|:----|:--|-----:|:----|:--|-------:|:----|-----:|:--|
|                    |     |   |                             2026 |     |   | 2025 |     |   |      $ |     |    % |   |
| Income tax expense |     | $ |                              316 |     | $ |  273 |     | $ |     43 |     | 15.8 | % |

|                    |     |   | Nine Months Ended September 30, 
                            2026 |     |   | 2025 |     |   | Change 
 Amount |     |   % |   |
|:-------------------|:----|:--|--------------------------------:|:----|:--|-----:|:----|:--|-------:|:----|----:|:--|
| Income tax expense |     | $ |                             444 |     | $ |  427 |     | $ |     17 |     | 4.0 | % |

We record income tax expense for taxes in our foreign jurisdictions including China, Finland, Italy, and South Korea. While our tax expense is largely dependent on the geographic mix of earnings related to our foreign operations, we also record tax expense for uncertain tax positions taken and associated penalties and interest. We consider all available evidence, both positive and negative, in assessing the extent to which a valuation allowance should be applied against our deferred tax assets. Due to the uncertainty with respect to their ultimate realizability, we continue to maintain a full valuation allowance on deferred tax assets in the United States \(U.S.\), and a partial valuation allowance in China as of September 30, 2026. Our effective tax rate may vary from period to period based on changes in estimated taxable income or loss by jurisdiction, changes to the valuation allowance, changes to U.S. federal, state or foreign tax laws, future expansion into areas with varying country, state, and local income tax rates and deductibility of certain costs and expenses by jurisdiction.

Our tax expense is dependent on the geographic mix of earnings and primarily related to our foreign operations. The increase in income tax expense for the three and nine months ended September 30, 2026 compared to the
27
same periods in 2025 was driven by an increase in foreign income. The second quarter of 2026 includes an increase in the valuation allowance for China that was partially offset by discrete tax benefits for expiring statutes of limitations on unrecognized tax positions.

#### Liquidity and Capital Resources
We had cash and cash equivalents and restricted cash of $279.7 million and $99.0 million as of September 30, 2026 and December 31, 2025, respectively. In addition, we had marketable securities of $34.8 million and $34.9 million at September 30, 2026 and December 31, 2025, respectively. Our total balance of cash, cash equivalents, restricted cash and marketable securities increased by $180.6 million from December 31, 2025 to September 30, 2026.

For the nine months ended September 30, 2026, our principal sources of liquidity were from our public offering and cash collected from customers. We believe our existing sources of liquidity will be sufficient to meet our working capital and capital expenditure needs for at least the next 12 months. Our future capital requirements may vary materially from period to period and will depend on many factors, including the timing and extent of spending on research and development efforts, the expansion of sales and marketing activities, the continuing market acceptance of our products and ongoing investments to support the growth of our business. We may in the future enter into arrangements to acquire or invest in complementary businesses, services, technologies and intellectual property rights. From time to time, we may explore additional financing sources which could include equity, equity‑linked and debt financing arrangements.

The following table summarizes our cash flows for the periods presented \(in thousands\):

|                                                            |     |   | Nine Months Ended September 30, 
                            2026 |     |   |   2025 |
|:-----------------------------------------------------------|:----|:--|--------------------------------:|:----|:--|-------:|
| Net cash provided by operating activities                  |     | $ |                          17,282 |     | $ |  3,812 |
| Net cash used in investing activities                      |     |   |                         -10,257 |     |   | -7,269 |
| Net cash provided by financing activities                  |     |   |                         173,589 |     |   | 18,519 |
| Effect of exchange rate changes on cash                    |     |   |                              58 |     |   |    278 |
| Net increase in cash, cash equivalents and restricted cash |     | $ |                         180,672 |     | $ | 15,340 |

#### Net Cash Provided by Operating Activities
During the nine months ended September 30, 2026, net cash provided by operating activities was $17.3 million, which was the result of an $7.9 million net loss and cash used in net working capital of $17.6 million, offset by non-cash expenses totaling $42.8 million related primarily to depreciation, amortization, stock-based compensation, and restructuring charges. The cash used in net working capital in the nine months ended September 30, 2026 was driven by a $21.8 million increase in prepaid expenses and other current assets and a $15.1 million increase in inventory. The cash used in working capital was offset by an $8.4 million increase in deferred revenues, $3.6 million decrease in accounts receivable, net, $3.1 million increase in lease liabilities, $2.3 million increase in accounts payable, $1.5 million increase in accrued and other long-term liabilities, and $0.4 million decrease in other assets, net.

#### Net Cash Used in Investing Activities
During the nine months ended September 30, 2026, net cash used in investing activities was $10.3 million, which was driven by net capital expenditures of $11.4 million, offset by the net proceeds from maturities and sales of marketable securities of $0.7 million and proceeds from the sale of a subsidiary of $0.4 million.

#### Net Cash Provided by Financing Activities
During the nine months ended September 30, 2026, net cash provided by financing activities was $173.6 million, which consisted of proceeds from our public offering, net of underwriting discounts and offering costs, of $191.3 million and proceeds from stock option exercises and employee stock plan purchases of $2.5 million, offset by repayment of $20.0 million of the LOC and tax payments related to stock award issuances of $0.2 million.
28
#### Credit Facilities
We have a $40.0 million revolving LOC with Banc of California dated September 24, 2018, which is secured by our assets and matures on September 24, 2027. The LOC agreement contains restrictive and financial covenants, including a minimum total cash covenant, and bears an unused credit fee of 0.25% on an annualized basis. The interest rate of 6.0% on the LOC at September 30, 2026 is based on the Prime Rate, minus a margin based on our liquidity levels.

As of September 30, 2026, no amounts were outstanding on the LOC and we were in compliance with all covenants. The full $40.0 million unused portion of the LOC is available for borrowing.

#### Contractual Obligations
There have been no material changes to our contractual obligations as previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025.

## ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
For financial market risks related to changes in interest rates and foreign currency exchange rates, reference is made to Item 7A, “Quantitative and Qualitative Disclosures about Market Risk,” contained in Part II of our Annual Report on Form 10-K for the year ended December 31, 2025. Our exposure to market risk has not changed materially since December 31, 2025.

## ITEM 4. CONTROLS AND PROCEDURES

#### Evaluation of Disclosure Controls and Procedures
Our management, with the participation of our chief executive officer and our chief financial officer, have evaluated our disclosure controls and procedures \(as defined in Rules 13a-15\(e\) and 15d-15\(e\) under the Exchange Act\) as of the end of the period covered by this report. Based on that evaluation, our chief executive officer and our chief financial officer have concluded that, as of such date, our disclosure controls and procedures were, in design and operation, effective.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the three months ended September 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Limitations on the Effectiveness of Internal Control

Control systems, including ours, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control systems’ objectives are being met. Further, the design of any control systems must reflect the fact that there are resource constraints, and the benefits of all controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our company have been detected. These inherent limitations include the realities that judgments in decision making can be faulty and that breakdowns can occur because of simple error or mistake. Control systems can also be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. The design of any system of controls is based, in part, on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions or deterioration in the degree of compliance with policies or procedures. We intend to continue to monitor and upgrade our internal controls as necessary or appropriate for our business, but cannot assure you that such improvements will be sufficient to provide us with effective internal control over financial reporting.

#### PART II—OTHER INFORMATION
29
## ITEM 1. LEGAL PROCEEDINGS
For a description of our material pending legal proceedings, see Note 12 - Commitments and Contingencies to our consolidated financial statements included elsewhere in this report.

## ITEM 1A.

## RISK FACTORS
For risk factors related to our business, reference is made to Item 1A, "Risk Factors," contained in Part I of our Annual Report on Form 10-K for the year ended December 31, 2025. Except as disclosed below, there have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025.

We are subject to U.S. and international governmental export and import controls that could adversely impact our supply chain, subject us to liability, impair our ability to compete and otherwise adversely affect our business, financial condition, results of operations and growth prospects.

The United States and various foreign governments have imposed controls, export license requirements and restrictions on the import or export of certain products, technologies, and software. For example, the U.S. government has imposed controls restricting the ability to send certain products and technology related to lasers, semiconductors, semiconductor manufacturing and supercomputing to and within China and additional destinations and is expected to further expand these controls. These controls may impact our ability to export certain products and technology to China and other destinations and restrict our ability to use certain components in our products.

Foreign governments also impose trade restrictions and retaliate in ways that could adversely impact our business, for example by imposing export control regimes placing export or other license requirements or restrictions on certain products or materials. These restrictions could increase the cost of, or delay or prevent the shipment of, components or inputs used to produce our products. For example, in June 2026, China implemented enhanced export declaration requirements for certain machine tools, unmanned aerial systems and related components. These new requirements impose more stringent documentation, classification, and reporting obligations on exporters that have resulted in increased compliance costs and longer customs clearance times, which negatively impacted and may continue to negatively impact our revenue and operating results. Although we have initiated a variety of mitigation strategies to secure the components and materials needed to manufacture our products and all such efforts are ongoing, if we are unable to effectively mitigate the supply chain disruptions caused by China’s new customs requirements, we expect it to increase our operational complexity, continue to disrupt our production and have a material negative impact on our revenue and profitability in future periods.

We must export our products in compliance with applicable export controls, and we may not always be successful in obtaining necessary export licenses. Denials of export licenses or limitations imposed by such laws on our ability to export or sell our products may harm our international and domestic revenues. Furthermore, noncompliance by us or any of our customers with these laws could have negative consequences, including government investigations, penalties and reputational harm. Any failure by us or any of our customers to adequately comply with these laws could result in civil fines or suspension or loss of our export privileges, as well as substantial expense and diversion of management resources and attention, any of which could materially adversely affect our business, financial condition, results of operations and growth prospects.

## ITEM 5. OTHER INFORMATION
Securities Trading Plans of Directors and Executive Officers

During our last fiscal quarter, no director or officer, as defined in Rule 16a-1\(f\), adoptedor terminateda “Rule 10b5-1 trading arrangement” or a non-Rule 10b5-1 trading arrangement; each as defined in Regulation S-K Item 408.
30
## ITEM 6. EXHIBITS
\(a\) Exhibits

| Exhibit     
 Number      |     |                                                                                                                                                                                   |     | Incorporated by Reference |     |         |     |             |     | Filed    
 Herewith |
| Description |     | Form                                                                                                                                                                              |     | File No.                  |     | Exhibit |     | Filing Date |     |          |
| 31.1        |     | Certification of the Chief Executive Officer pursuant to Exchange Act Rules 13a-14\(a\) and 15d-14\(a\), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002         |     |                           |     |         |     |             |     | X        |
| 31.2        |     | Certification of the Chief Financial Officer pursuant to Exchange Act Rules 13a-14\(a\) and 15d-14\(a\), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002         |     |                           |     |         |     |             |     | X        |
| 32.1\*       |     | Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |     |                           |     |         |     |             |     | X        |
| 101.INS     |     | Inline XBRL Instance Document \(the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document\)             |     |                           |     |         |     |             |     | X        |
| 101.SCH     |     | Inline XBRL Taxonomy Extension Schema Document                                                                                                                                    |     |                           |     |         |     |             |     | X        |
| 101.CAL     |     | Inline XBRL Taxonomy Extension Calculation Linkbase Document.                                                                                                                     |     |                           |     |         |     |             |     | X        |
| 101.DEF     |     | Inline XBRL Taxonomy Extension Definition Linkbase Document                                                                                                                       |     |                           |     |         |     |             |     | X        |
| 101.LAB     |     | Inline XBRL Taxonomy Extension Label Linkbase Document                                                                                                                            |     |                           |     |         |     |             |     | X        |
| 101.PRE     |     | Inline XBRL Taxonomy Extension Presentation Linkbase Document                                                                                                                     |     |                           |     |         |     |             |     | X        |
| 104         |     | Cover Page Interactive Data File \(formatted as Inline XBRL and contained in Exhibit 101\)                                                                                          |     |                           |     |         |     |             |     | X        |

| \* |     | The certifications furnished in Exhibit 32.1 hereto are deemed to accompany this Quarterly Report on Form 10-Q and will not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, except to the extent that the registrant specifically incorporates it by reference. |
31
### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

| November 6, 2026 |     | By: |     | NLIGHT, INC.                          
 \(Registrant\)                          
 /s/ SCOTT KEENEY                      |
|:-----------------|:----|:----|:----|:--------------------------------------|
| Date             |     |     |     | Scott Keeney                          |
|                  |     |     |     | President and Chief Executive Officer 
 \(Principal Executive Officer\)         |
| November 6, 2026 |     | By: |     | /s/ JOSEPH CORSO                      |
| Date             |     |     |     | Joseph Corso                          |
|                  |     |     |     | Chief Financial Officer               
 \(Principal Financial Officer\)         |
| November 6, 2026 |     | By: |     | /s/ JAMES NIAS                        |
| Date             |     |     |     | James Nias                            |
|                  |     |     |     | Chief Accounting Officer              
 \(Principal Accounting Officer\)        |
32</content>
                </data>
            