nLight, Inc. (LASR)
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-04
$40.06-3.40%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-04
Intact: The reason to own it still holds.
nLight is growing revenue fast, from $51.7M in 2025-Q1 to $80.2M in 2026-Q1. Gross margin is improving toward 29%-33%, with gross profit rising to $26.5M in 2026-Q1. The company targets $75M-$81M revenue and $8M-$12M adjusted EBITDA for Q2 2026. Expansion in defense supports growth and recent earnings beats show progress.
The company is still loss-making and faces elevated risk. CEO stock sales raise confidence concerns. The recent sharp 30% stock drop shows market doubts. EBITDA targets are uncertain and earnings misses occurred earlier this year.
The price is about 10% below our fair value near $68 and 16% below the Street median of $81. Analysts expect 13% revenue growth, which aligns with management targets. Our view is cautious given the recent selloff and mixed execution.
Breaks if: Adjusted EBITDA falls below $8M in Q2 2026
Breaks if: Gross margin falls below 29% in Q2 2026
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround scenario. LASR is currently loss-making but is showing signs of revenue growth and improving margins, making it a name to watch in the tech sector.
The market appears to have priced in a low expectations gap, suggesting that investors are not overly optimistic about LASR's near-term performance. The valuation is considered cheap compared to peers, but the fundamentals need to improve for a more favorable outlook.
Management is focused on achieving revenue growth and maintaining gross margins, which have shown improvement. However, the trajectory for Adjusted EBITDA is mixed, indicating that while there is progress, challenges remain.
The long-term thesis hinges on management's ability to deliver on revenue and margin goals. Additionally, external factors like Fed rate cuts and performance of sector leaders could significantly impact LASR's trajectory.
The most important moves since the prior daily snapshot.
Signal changed from 'mild_favorable' to 'mixed'.
Yes, our read has strengthened. The latest earnings beat supports this improved outlook. There are no new threats impacting the thesis at this time.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
nLIGHT aims to improve its overall gross margin to be in the range of 29% to 33% for the quarter ending June 2026.
Breaks if: Further large CEO or insider stock sales occur
Breaks if: Revenue falls below $75M in Q2 2026
In the next 1 to 3 years, LASR's performance will depend on its execution of growth strategies and external market conditions. Not investment advice.