Shares of LASR surged to an intraday record high following nLIGHT’s announcement that preliminary fourth-quarter 2025 revenue will land between $78 million and $80 million, above the high end of prior guidance. Revenue in the Laser Products segment is expected to reach $54 million to $55 million, while Advanced Development revenue should total roughly $24 million to $25 million. Management credits robust Aerospace & Defense demand—particularly in directed-energy and optical sensing programs tied to U.S. Department of Defense contracts—and growing interest from semiconductor and industrial customers leveraging AI-driven manufacturing processes. The company now forecasts full-year 2026 bookings growth of 15% to 20%, driven by multi-year agreements for high-power fiber lasers and beam-combination systems.

On January 6, nLIGHT President and CEO Scott Keeney executed a prearranged Rule 10b5-1 plan to exercise and immediately sell 31,748 stock options, generating proceeds of approximately $1.2 million. The sale represented 1.37% of his direct holdings and matched the median size and percentage of his recent dispositions, underscoring the transaction’s status as a liquidity and tax-planning event rather than a shift in insider sentiment. Post-transaction, Keeney retains 2,285,020 directly held shares valued at roughly $86.1 million, preserving significant equity alignment with long-term shareholders.

nLIGHT enters 2026 with a backlog of $150 million, up 25% year-over-year, underpinned by contracts for high-power lasers in defense-directed energy, counter-drone systems and industrial microfabrication tools. The company highlighted three multi-year projects with tier-one defense prime contractors that begin deliveries in the second quarter, along with expanded supply agreements with leading semiconductor equipment manufacturers. With R&D spending at 12% of revenue and gross margins near 45%, management expects operating leverage to drive adjusted EBITDA margins toward 20% by year-end.