Laser Photonics (NASDAQ:LASE) Releases Quarterly Earnings Results

Laser Photonics (NASDAQ:LASE) posted its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $1.15 million during the quarter. Laser Photonics had a negative return on equity of 4,407.77% and a negative net margin of 327.60%.

Here are the key takeaways from Laser Photonics’ conference call:

• Third-quarter results improved year over year but remained weak: net sales rose 25% to $1.1 million and net loss narrowed 46% to $2.5 million, while gross margin remained negative at 39%. Nine-month sales were down to $3.9 million from $5.8 million a year earlier.
• Liquidity and going-concern risks remain significant. LASE used $7.4 million of operating cash in the first nine months and disclosed that substantial doubt remains about its ability to continue as a going concern over the next year, despite ending September with $7.6 million in cash and short-term investments.
• Management cited traction in its commercial businesses: Beamer is seeing strong bookings for laser cutting systems, LASE shipped its first semiconductor system, and CMS Laser has orders that management expects to convert into revenue next year.
• Defense is a major strategic bet, but monetization is uncertain. LASE plans to unveil its first Quantum Bullet anti-drone system later this month and has completed integration with Anduril’s Lattice platform; management said the market is nascent and revenue is unpredictable.
• Management said it is strengthening financial controls, reporting, and corporate governance while aiming to reach operating cash-flow breakeven. Fourth-quarter priorities include controlling costs, improving production utilization, and converting the order book into deliveries and revenue.

Laser Photonics Trading Down 5.1%

LASE traded down $0.03 during trading on Friday, hitting $0.53. 648,266 shares of the company traded hands, compared to its average volume of 5,800,403. The stock’s 50-day simple moving average is $0.77 and its two-hundred day simple moving average is $1.13. Laser Photonics has a 1 year low of $0.38 and a 1 year high of $4.49. The company has a market cap of $26.64 million, a PE ratio of -0.30 and a beta of 2.66.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Laser Photonics stock. BlackRock Inc. acquired a new position in shares of Laser Photonics Co. (NASDAQ:LASE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 202,392 shares of the company’s stock, valued at approximately $334,000. BlackRock Inc. owned about 0.42% of Laser Photonics at the end of the most recent reporting period. 1.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Laser Photonics in a research report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

About Laser Photonics

Laser Photonics Corporation develops and manufactures industrial laser systems and related equipment for material processing applications. Its technologies are designed to provide alternatives to traditional abrasive blasting, chemical cleaning, and other surface-treatment methods. The company’s product portfolio includes laser systems for surface cleaning and preparation, rust and paint removal, marking and engraving, cutting, and welding. Its CleanTech laser blasting systems are intended for applications such as removing coatings, contaminants, and corrosion from metal and other surfaces while reducing the need for consumable media.