Investing.com -- Shares of nLIGHT, Inc. (NASDAQ:LASR) fell 7% after the company released limited preliminary results for the fourth quarter of 2024, which fell short of its previously announced guidance. The anticipated revenue for the quarter is expected to be between $46 million and $48 million, below the forecasted range of $49 million to $54 million.
The shortfall in revenue is attributed to a combination of factors, including ongoing weakness in industrial markets, execution challenges within the microfabrication sector, and delays in the delivery of certain defense products. As a result of the reduced product revenue and various one-time charges associated with restructuring the industrial business segment, nLIGHT anticipates that both gross margin and Adjusted EBITDA will significantly undershoot the guidance provided for the fourth quarter.
Despite the revenue miss, nLIGHT's President and CEO, Scott Keeney, expressed optimism about the company's prospects, particularly in the aerospace and defense markets, as it moves into 2025. Keeney highlighted the company's visibility across multiple programs in directed energy and laser sensing, emphasizing nLIGHT's strong positioning for growth in these areas.
nLIGHT's leadership, including Keeney and CFO Joe Corso, is scheduled to attend the 27th Annual Needham Growth Conference in New York on January 15th, 2025. They will engage in one-on-one meetings with investors and present a webcast at 2:15pm EDT, which will be available live and as an archived recording on the company's investor website.
While the company faces immediate challenges, the focus on aerospace and defense markets may provide a pathway for recovery and growth in the future. Investors and analysts will be closely monitoring nLIGHT's upcoming full earnings report and the insights shared during the Needham Growth Conference to assess the company's strategic direction and potential for rebound.
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