Key Highlights

  • nLIGHT was up 27.71% at USD 37.47 during Friday's session on November 6, 2026, the first full trading day after third-quarter results were released on November 5, 2026.
  • Third-quarter Revenue reached USD 73.8 million, up 10.5% and above the top of guidance, with Defense and Space revenue at USD 52.5 million, roughly 15% higher.
  • Non-GAAP diluted Earnings were USD 0.16 a share against USD 0.08 a year earlier, and adjusted EBITDA climbed 55.4% to USD 11.1 million, though the GAAP loss was USD 0.12 a share.
  • Guidance for the fourth quarter spans USD 84 million to USD 90 million and leaves out about USD 15 million of Products sales that moved into the first half of 2027.

Quarterly Revenue Tops Guidance as Shares Surge

nLIGHT (NASDAQ:LASR) rose 27.71% to USD 37.47 in Friday's session, the first full trading day to reflect its third-quarter 2026 report, issued November 5, 2026, according to published market data. Revenue reached USD 73.8 million, a 10.5% gain on the USD 66.7 million posted in the third quarter of 2025, and it cleared the upper bound of management's guidance. Defense and Space sales of USD 52.5 million rose about 15%, whereas Advanced Manufacturing held steady at USD 21.3 million. According to the chief executive, defense work is progressing from development into fielding and production.

Margins, Cash and an Offering Shape the Balance Sheet

Adjusted profitability improved. GAAP gross Margin reached 33.1% compared with 31.1%, while non-GAAP gross margin stood at 34.7%. Adjusted EBITDA reached USD 11.1 million, up from USD 7.1 million twelve months earlier, and non-GAAP Net Income stood at USD 10.2 million. Under GAAP accounting, however, the loss was USD 7.2 million, or USD 0.12 per share. The balance of cash and equivalents was USD 279.4 million on September 30, 2026, versus USD 98.7 million at year-end 2025. Most of that increase traces to a public offering that brought in roughly USD 192 million net, and a USD 20 million Credit line was paid down. The release does not quantify the new shares issued.

Supply Limits, Guidance Math and Reversal Risk

The fourth-quarter midpoint of USD 87 million sits about 17.9% above the third-quarter revenue figure (calculated). Products is expected to contribute roughly USD 63 million and Advanced Development about USD 24 million, while adjusted EBITDA is projected at USD 12 million to USD 18 million. Guidance also omits around USD 15 million of Products sales that shortages have shifted into the first half of 2027. The release provides no Backlog or bookings figures. A rally of this size that follows an Equity raise and a continuing GAAP loss can unwind quickly, and no analyst action was verified.

Where Things Stand

The move appears tied to the third-quarter report and the fourth-quarter range issued on November 5, 2026. The company topped its own revenue range, lifted Defense and Space sales roughly 15%, and doubled non-GAAP per-share earnings while raising about USD 192 million through an offering. The counterweights are a continuing GAAP loss, about USD 15 million of revenue pushed into the first half of 2027 by Supply limits and the dilution from the offering. Watch fourth-quarter output against the guided band and whether bookings get disclosed.