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LASE Corp Reports Third Quarter 2026 Results
Third Quarter Net Sales Increase 25% and Net Loss Improves 46% Compared with Third Quarter 2025
ORLANDO, FL /ACCESS Newswire/ November 12, 2026 /LASE Corp. (NASDAQ:LASE), an emerging laser technology company developing laser and directed-energy solutions for the defense, pharmaceutical, semiconductor and industrial markets (the “Company”), today announced its financial results for the third quarter ended September 30, 2026.
Executive Chairman Commentary – Dmitri Nikitin
“We believe this quarter represents a turning point for us as a company. From strengthening our balance sheet and delivering strong net sales growth and a narrower quarterly net loss, to clarifying our growth strategy centered on quantum directed-energy technologies, to strengthening our management and governance teams, we have made significant progress. We now have a clearly defined strategy focused on four markets: defense, semiconductor, pharmaceutical and industrial. We believe these accomplishments provide a stronger foundation for LASE’s next phase of growth.
“Our first quarterly earnings conference call in nearly two years marks another important step toward greater transparency and more consistent shareholder communications. We recognize that trust is earned through actions, not promises, and we intend to demonstrate our commitment through disciplined execution, timely financial reporting and measurable progress.”
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$ in millions, except per-share amounts |
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Loss per share attributable to common stockholders, basic and diluted |
Third Quarter and Year-to-Date 2026 Summary & Financial Highlights
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Q3 Net Sales Growth: Q3 net sales increased 24.6% to $1.1 million, compared with $0.9 million in the prior-year period, representing the Company’s first quarter of year-over-year net sales growth since Q4 2025. Year-to-date net sales were $3.9 million, compared with $5.8 million in the prior-year period.
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Q3 Liquidity Improvements: Cash and short-term investments increased to $7.6 million at September 30, 2026, compared with $0.7 million at December 31, 2025. The Company eliminated $4.6 million of outstanding notes payable, including related-party notes, and improved working capital by $11.1 million to $3.7 million, compared with a deficit of $7.3 million at December 31, 2025.
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Q3 Net Loss Improvement: Q3 net loss improved 45.9% to $2.5 million, compared with $4.7 million in the prior-year period, representing the Company’s first year-over-year improvement in quarterly net results since Q4 2024. The improvement was primarily driven by lower operating expenses and interest expense.
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Q3 Operating Expense Reduction: Q3 operating expenses were $1.8 million, a 33.9% decrease compared with $2.8 million in the same prior-year period, primarily driven by lower general and administrative expenses. Year-to-date operating expenses were $6.6 million, a 10.0% decrease compared with $7.3 million in the same prior-year period.
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Executive Leadership Improvements by appointing Timothy A. Peterman Chief Financial Officer in September 2026 and Dmitri Nikitin Executive Chairman and principal executive officer in October 2026, following Wayne Tupuola’s departure as Chief Executive Officer in October 2026.
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SEC Compliance Support through the appointment of Rosenfield & Company, PLLC as independent registered public accounting firm in July 2026 and the October 2026 engagements of Sheppard Mullin as securities counsel and CBIZ as financial reporting and internal controls consultant.
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Growth Strategy Clarity through the Company’s prioritization of directed-energy technologies, including its Quantum Bullet™ platform, and its focus on four principal markets: defense, semiconductor, pharmaceutical and industrial.
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September Equity Capital Raise: In September 2026, the Company completed a public equity offering raising approximately $7.9 million in gross proceeds. The financing strengthened the Company’s balance sheet and provided additional capital to support operations and strategic growth initiatives.
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Corporate Rebranding effective November 4, 2026, changing the Company’s name from Laser Photonics Corporation while retaining its Nasdaq ticker symbol, LASE, and introducing www.lase.com as its corporate website. The Company also announced in October that it planned to resume quarterly earnings conference calls for the first time in nearly two years, reinforcing its commitment to shareholder transparency.
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Public Board Governance Improvements following the August 2026 resignation of Carlos Gonzalez; the October 2026 resignation of Wayne Tupuola as a director; the October 2026 appointment of Dmitri Nikitin as Executive Chairman; and the November 2026 appointments of Timothy A. Peterman, bringing public-company financial oversight and governance experience, and Sanjay Adhav, bringing emerging technology expertise, as directors.
