IPG Photonics Corp income statement
In fiscal 2025, IPG Photonics Corp reported revenue of $1.00bn, up 2.7% on the year before, operating income of $13.1m (a 1.3% margin) and net income of $31.1m, or $0.73 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 186 | 299 | 474 | 563 | 648 | 770 | 901 | 1,006 | 1,409 | 1,460 | 1,315 | 1,201 | 1,461 | 1,430 | 1,287 | 977 | 1,004 | 1,069 |
| Cost of revenue | 122 | 153 | 217 | 258 | 308 | 353 | 409 | 454 | 612 | 660 | 708 | 662 | 764 | 874 | 746 | 639 | 622 | 659 |
| Gross profit | 64 | 146 | 257 | 305 | 340 | 417 | 492 | 552 | 797 | 800 | 606 | 539 | 696 | 555 | 542 | 338 | 381 | 410 |
| Research and development | 19 | 19 | 25 | 31 | 42 | 53 | 63 | 79 | 101 | 123 | 130 | 127 | 140 | 116 | 99 | 110 | 117 | 123 |
| Selling and marketing | 15 | 19 | 22 | 24 | 27 | 31 | 32 | 38 | 50 | 58 | 78 | 71 | 78 | 77 | 86 | 90 | 98 | 96 |
| General and administrative | 20 | 29 | 37 | 39 | 51 | 55 | 57 | 66 | 81 | 102 | 108 | 110 | 126 | 131 | 126 | 124 | 143 | 148 |
| Operating income | 9 | 80 | 176 | 209 | 218 | 284 | 342 | 364 | 551 | 523 | 234 | 199 | 368 | 170 | 232 | −208 | 13 | 8 |
| Interest expense | 1 | 1 | 1 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Income before tax | 8 | 79 | 175 | 209 | 218 | 284 | 342 | 367 | 552 | 534 | 248 | 206 | 366 | 183 | 275 | −162 | 45 | 40 |
| Income tax | 2 | 25 | 54 | 61 | 63 | 84 | 100 | 106 | 204 | 130 | 68 | 45 | 89 | 73 | 56 | 20 | 14 | 12 |
| Net income | 5 | 54 | 118 | 145 | 156 | 200 | 242 | 261 | 348 | 404 | 180 | 160 | 278 | 110 | 219 | −182 | 31 | 28 |
| Diluted EPS | $0.12 | $1.13 | $2.41 | $2.81 | $2.97 | $3.79 | $4.53 | $4.85 | $6.36 | $7.38 | $3.35 | $2.97 | $5.16 | $2.16 | $4.63 | −$4.09 | $0.73 | $0.64 |
| Diluted shares (average) | 47m | 48m | 49m | 52m | 52m | 53m | 53m | 54m | 55m | 55m | 54m | 54m | 54m | 51m | 47m | 44m | 43m | 43m |
| EBITDA | 28 | 102 | 199 | 235 | 250 | 319 | 384 | 416 | 616 | 604 | 330 | 293 | 464 | 260 | 302 | −147 | 80 | 75 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 233 | 234 | 228 | 251 | 251 | 274 | 265 | 279 |
| Cost of revenue | 179 | 144 | 138 | 157 | 152 | 175 | 166 | 166 |
| Gross profit | 54 | 90 | 90 | 94 | 99 | 99 | 99 | 113 |
| Research and development | 27 | 26 | 28 | 30 | 30 | 29 | 33 | 31 |
| Selling and marketing | 22 | 22 | 24 | 26 | 24 | 24 | 25 | 24 |
| General and administrative | 33 | 29 | 33 | 35 | 35 | 40 | 36 | 37 |
| Operating income | −253 | 14 | 2 | 0 | 8 | 3 | −8 | 5 |
| Income before tax | −243 | 22 | 11 | 8 | 16 | 11 | 1 | 13 |
| Income tax | −9 | 14 | 7 | 2 | 8 | −3 | −1 | 7 |
| Net income | −234 | 8 | 4 | 7 | 7 | 13 | 2 | 5 |
| Diluted EPS | −$5.33 | $0.13 | $0.09 | $0.16 | $0.18 | $0.31 | $0.04 | $0.12 |
| EBITDA | −238 | 29 | 17 | 16 | 23 | 23 | 8 | 20 |
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