Laser Photonics Corporation (NASDAQ:LASE) soared 71.91% in after-hours trading to $4.23 on Monday, following its second-quarter earnings report, which showed a 317% year-over-year revenue increase. The stock had closed regular trading at $2.46, up 6.82% for the day, according to Benzinga Pro data.
Revenue Growth Exceeds Expectations
The Orlando-based CleanTech laser systems manufacturer reported second-quarter revenue of $2.6 million, an increase from $0.6 million in the prior-year quarter. Gross profit expanded 341% to $1.4 million, with margins improving to 53.5%.
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“Second Quarter demonstrated the accelerating momentum of our strategic transformation, with revenue growth exceeding 300% year-over-year for the second consecutive quarter,” said CEO Wayne Tupuola.
Strategic Acquisitions Drive Growth
Laser’s performance was bolstered by its Control Micro Systems (CMS) acquisition completed in the fourth quarter of 2024, which secured significant orders from a Fortune 500 appliance manufacturer and a global manufacturing services provider.
LASE announced the strategic acquisition of Beamer Laser Marking Systems in June, which historically generated $3+ million in annual revenue and operates 19 tech centers with 5 demonstration showrooms across the country.
Cost-Cutting Measures Implemented
Despite revenue growth, LASE reported a net loss of $1.77 million for the second quarter, though the company successfully implemented $2 million in annualized cost reductions during the quarter. CFO Carlos Sardinas noted these reductions will provide “full benefits in subsequent periods.”
Market Position and Outlook
LASE targets the $46 billion sand and abrasives blasting market with its laser-based industrial cleaning solutions. The company serves Fortune 1000 manufacturers across aviation, aerospace, automotive, defense, and energy sectors.
With a market cap of $35.12 million and trading volume averaging 350,440 shares, LASE has shown significant volatility with a 52-week range of $1.84 to $19.80.
Benzinga’s Edge Stock Rankings indicate, Laser Photonics stocks have negative trends across all time frames. Know how the stock fares on other parameters here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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