LASR
nLIGHT, Inc.

nLIGHT, Inc.LASR

Technology · Semiconductors
41.20USD
+2.51%
Sep 23, 2026
LASR overview ready
Key High-Power Laser Supplier Enabling Defense Directed-Energy Systems
NLIGHT is a specialized high-power laser and beam-control supplier/enabler for defense directed-energy systems, while also selling laser products into optical sensing and advanced-manufacturing applications.
Strong narrative exposure
Exposed to the Defense Rearmament and Industrial Base narrative through Directed-Energy Weapon Systems — component supplier.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Dependence on aerospace and defense spending cycles.
Market Sep 22Filing Jun 30Price action Sep 22Research Aug 9

Conviction Level

NarrativeHeat8.3ThemeHeat8.5PriceAction1.4Valuation5.7CompanyPosition7.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$2.4B
Avg Volume (60D)
1.3M
60 sessions
Revenue Growth YoY
+31.6%
FY2025 vs FY2024
Gross Margin
+31.5%
Trailing twelve months
Operating Margin
-5.5%
Trailing twelve months
Free Cash Flow Yield
+1.8%
Distance from 200DMA
-28.6%
Next Earnings
2026-11-05
P/E
N/M
EV / Sales
6.7x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Sep 30, 2025

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads fair.
nLIGHT, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
NLIGHT is a specialized high-power laser and beam-control supplier/enabler for defense directed-energy systems, while also selling laser products into optical sensing and advanced-manufacturing applications.
Opportunity
High opportunity
Defense procurement and production scaling of high-energy laser and other directed-energy systems for counter-UAS, air defense, and missile-defense missions.
Key risk
Dependence on aerospace and defense spending cycles.

Narrative & Theme

Defense Rearmament and Industrial Base
Part of Directed-Energy Weapon Systems, with strong fit.
LASR has a direct and unusually specific connection to the defense-directed-energy buildout rather than generic aerospace-and-defense adjacency.
Narrative HeatHeating up8.3 / 10
Theme HeatHot8.5 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Semiconductors
What they do

NLIGHT, Inc. designs, develops, manufactures, and sells semiconductor and fiber lasers primarily for aerospace and defense, industrial, and microfabrication applications through its Laser Products and Advanced Development segments.

How it earns

The company generates revenue through transactional sales of laser products and related systems.

Products & services
Semiconductor lasers
Programmable and serviceable fiber lasers
Fiber amplifiers
Beam combination and control systems
Customers & end markets
Aerospace and defense
Industrial manufacturing
Microfabrication
Market position

NLIGHT operates as a specialized player in the semiconductor and fiber laser market serving niche high-performance applications.

Demand drivers
Medium cyclicality

Demand is influenced by aerospace and defense budgets and industrial capital spending cycles.