LASR - nLIGHT Inc. (LASR) Q4 2023 Earnings Call Transcript
2024-02-24 09:02:08 ET
nLIGHT, Inc. (LASR)
Q4 2023 Earnings Conference Call
February 22, 2024 5:00 PM ET
Company Participants
Joe Corso - Chief Financial Officer
Scott Keeney - Chairman and Chief Executive Officer
Conference Call Participants
Jim Ricchiuti - Needham & Company
Ruben Roy - Stifel
Greg Palm - Craig-Hallum Capital Group
Keith Housum - Northcoast Research
Mark Miller - The Benchmark Co
Presentation
Operator
Good afternoon, and welcome to the nLIGHT Fourth Quarter 2023 Earnings Conference Call. All participants’ will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Joe Corso, CFO. Please go ahead.
Joe Corso
Thank you, and good afternoon, everyone. I'm Joe Corso, nLIGHT's Chief Financial Officer. With me today is Scott Keeney, nLIGHT's Chairman and CEO. Today's discussion will contain forward-looking statements, including financial projections and plans for our business, some of which are beyond our control, including the risks and uncertainties described from time to time in our SEC filings. Our results may differ materially from those projected on today's call, and we undertake no obligation to update publicly any forward-looking statement, except as required by law.
During the call, we will be discussing certain non-GAAP financial measures. We have provided reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures in our earnings release, which can be found on the Investor Relations section of our website.
I will now turn the call over to Scott.
Scott Keeney
Thank you, Joe. Fourth quarter revenue of $51.9 million was above the high end of guidance, driven by a strong quarter in aerospace and defense. We ended the year with approximately $108 million in backlog, an increase of 34%, compared to December 31, 2022. Gross margin and adjusted EBITDA were above the midpoint as we continue to improve our overall global manufacturing capabilities and control spending.
Maintaining a strong balance sheet was a key goal during 2023. We increased cash, cash equivalents and investments by approximately $5 million, ending the year with $113 million. We have no outstanding debt, and we remain well positioned to execute against our long-term growth plan. I'd like to discuss key highlights from the year....
nLIGHT, Inc. (LASR) Q4 2023 Earnings Call Transcript