Reading the tape
NASDAQ: LASR
nLIGHT, Inc.
Technology · Semiconductors
Market Cap
$3.65B
52w High
$74.10
52w Low
$6.91
P/E
-141.87
Volume
1.89M
Outstanding Shares
55.79M
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 831.2%Revenue (TTM): 31.62%FCF (TTM): 219.5%P/S: 100th pct
What changed
The stock rose 831.2% over the last year. Revenue grew 31.62% over the trailing twelve months. Operating margin moved from -33.06% to -10.16%. Free cash flow grew 219.5% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/S range (100th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at -10.16% — continued expansion would be needed to justify the premium. Revenue growth of 31.62% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
nLIGHT, Inc. designs, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications.
CEOScott H. Keeney
SectorTechnology
IndustrySemiconductors
Employees800
IPO dateApr 26, 2018
Valuation
Forward P/E—
EV/EBITDA-92.62
Enterprise value$1.85B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth71.35%
Gross margin29.83%▲79.39%vs FY2024
Operating margin-10.16%▲69.27%vs FY2024
ROE-10.35%▲63.15%vs FY2024
Analyst consensus
RatingBuy
Target price$55.60▼14.95%
12
Buy
1
Hold
0
Sell
⚠ Analyst ratings tend to be lagging indicators — upgrades often follow price gains rather than precede them. Use as one signal among many.
Earnings
Last 3 reported quarters plus the next estimate. Switch into compare mode to inspect one metric year-over-year.
Next report
May 14, 2026
View
EPS
Actual vs estimate by quarter
Q3FY25
ActualEst.
$0.06
-$0.09
Q4FY25
ActualEst.
$0.08
$0.02
Q1FY26
ActualEst.
$0.14
$0.11
Q2FY26
Next Est.
—
Revenue
Actual vs estimate by quarter
Q3FY25
ActualEst.
$61.74M
$57.32M
Q4FY25
ActualEst.
$66.74M
$76.14M
Q1FY26
ActualEst.
$81.19M
$76.71M
Q2FY26
Next Est.
—