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IPGP

IPG Photonics Corporation

IPGP

IPG Photonics Corporation • NASDAQ
$79.64 ▲ 1.44% (+1.13)
Market Cap $3.35 B
52w High $92.21
52w Low $48.59
Dividend Yield 0%
P/E 144.8
Volume 75.49K
Outstanding Shares 42.12M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $250.792M ▲ $91.15M ▼ $7.463M ▲ 2.976% ▲ $0.18 ▲ $31.286M ▲
Q2-2025 $250.721M ▲ $93.469M ▲ $6.605M ▲ 2.634% ▲ $0.16 ▲ $19.028M ▼
Q1-2025 $227.793M ▼ $87.985M ▲ $3.758M ▼ 1.65% ▼ $0.088 ▼ $19.579M ▼
Q4-2024 $234.337M ▲ $76.392M ▼ $7.815M ▲ 3.335% ▲ $0.18 ▲ $28.669M ▲
Q3-2024 $233.143M $307.435M $-233.594M -100.193% $-5.33 $-12.864M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $870.385M ▼ $2.381B ▲ $276.151M ▲ $2.105B ▲
Q2-2025 $899.598M ▼ $2.379B ▲ $274.896M ▲ $2.105B ▲
Q1-2025 $926.878M ▼ $2.317B ▲ $256.906M ▼ $2.06B ▲
Q4-2024 $930.192M ▼ $2.289B ▼ $264.793M ▲ $2.024B ▼
Q3-2024 $1.019B $2.355B $240.518M $2.115B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $7.463M ▲ $35.306M ▲ $-31.388M ▼ $-16.462M ▲ $-13.158M ▼ $14.575M ▲
Q2-2025 $6.605M ▲ $-2.216M ▼ $12.87M ▲ $-28.787M ▼ $-3.862M ▲ $-17.574M ▼
Q1-2025 $3.758M ▼ $13.445M ▼ $-274.386M ▼ $-5.67M ▲ $-256.994M ▲ $-11.373M ▼
Q4-2024 $7.815M ▲ $73.784M ▲ $-262.547M ▼ $-55.012M ▲ $-263.831M ▼ $50.618M ▲
Q3-2024 $-233.594M $66.058M $162.635M $-74.381M $163.331M $42.97M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
High Power Continuous Wave CW Lasers
High Power Continuous Wave CW Lasers
 $80.00M ▲$70.00M ▼$80.00M ▲$80.00M ▲
Laser And Non Laser Systems
Laser And Non Laser Systems
 $0 ▲$30.00M ▲$40.00M ▲$40.00M ▲
Medium Power CW Lasers
Medium Power CW Lasers
 $0 ▲$20.00M ▲$20.00M ▲$20.00M ▲
Pulsed Lasers
Pulsed Lasers
 $40.00M ▲$40.00M ▲$40.00M ▲$30.00M ▼
Quasi Continuous Wave QCW Lasers
Quasi Continuous Wave QCW Lasers
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲
Amplifiers Laser Systems Service Parts Accessories And Change In Deferred Revenue
Amplifiers Laser Systems Service Parts Accessories And Change In Deferred Revenue
 $0 ▲$50.00M ▲$60.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has been drifting down after peaking a few years ago, and the latest year shows a particularly sharp drop. Profitability has weakened alongside this: gross margins have compressed, operating profit has turned into an operating loss, and net income has moved from solidly positive to negative. In simple terms, the company has gone from being clearly profitable to struggling to cover its costs as demand and pricing have softened. The business still shows the ability to earn reasonable profits in better years, but current results reflect a tougher environment and some pressure on both volumes and margins.

Balance Sheet

Balance Sheet The balance sheet looks conservative and resilient. The company carries very little debt and has kept a healthy cash cushion, even as total assets and equity have gradually declined. This means the business is not heavily reliant on lenders and has a tangible capital base to absorb bumps in performance. The trend in equity and assets does signal that value has been eroding over time as losses and weaker results accumulate, but the overall financial foundation remains solid compared with many technology hardware peers.

Cash Flow

Cash Flow Despite weaker earnings, the company continues to generate positive cash flow from its operations each year. After funding a steady but not excessive level of capital spending, free cash flow has remained positive, although it is clearly lower than during stronger years. This pattern suggests that the core business is still cash-generative, but with less surplus to reinvest or return to shareholders. Consistent, moderate investment levels show management continuing to support the asset base and technology while maintaining discipline on big spending projects.

Competitive Edge

Competitive Edge IPG holds a strong niche position as a pioneer and leader in high‑power fiber lasers. Its key advantage is deep vertical integration: it designs and manufactures most critical components itself, which supports lower production costs, tight quality control, and faster innovation cycles. Its lasers are known for high efficiency, strong beam quality, and reliability, which have helped them displace older laser technologies in many industrial applications. These strengths create meaningful barriers for rivals, although the company still faces competitive pressure from other laser and photonics players and from cyclical swings in industrial demand.

Innovation and R&D

Innovation and R&D Innovation is a core strength. IPG has built a broad portfolio across high‑power fiber lasers, ultrafast lasers, handheld welding systems, laser cleaning solutions, and integrated production systems. The company continues to roll out new platforms and features, such as more compact rack‑integrated systems, advanced welding technologies, and real‑time quality monitoring. It is also pushing into newer application areas like e‑mobility manufacturing, medical procedures, micromachining, and even early-stage fields like quantum and directed energy. This steady pipeline of products and applications indicates that R&D is being used not just to improve existing offerings, but also to diversify into higher-growth and higher-value niches.

Summary

Financially, IPG is in a transition phase: it has moved from a period of solid growth and profitability to one marked by revenue declines and losses, even though cash generation remains positive and the balance sheet is strong and lightly leveraged. Strategically, the company retains a clear technological edge and a defensible competitive moat built on vertical integration and specialized know‑how. The main tension is between short‑term operational softness and long‑term innovation potential. Future outcomes will depend on how well IPG can convert its strong technology and expanding product set into renewed, durable growth while managing industry cyclicality and competitive challenges.

NEWS

October 21, 2025 · 8:00 AM UTC

IPG Photonics to Announce Third Quarter 2025 Financial Results on November 4

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