Key Highlights
- LASE Corp. reported third-quarter net sales of $1.1 million, up 24.6% year over year.
- The company reported a third-quarter net loss of $2.5 million, narrowing from $4.7 million.
- Cash and short-term investments totalled $7.6 million at Sept. 30 after equity raises and debt repayment.
LASE Corp. (NASDAQ: LASE) reported third-quarter 2026 results showing higher sales and a narrower loss, alongside a larger cash position following equity financings and debt repayment. The laser technology company reported net sales of $1.1 million for the quarter ended Sept. 30, 2026, compared with $0.9 million a year earlier.
The company posted a net loss of $2.5 million in the quarter, compared with a net loss of $4.7 million in the prior-year period. LASE reported operating expenses of $1.8 million, down from $2.8 million, and said the improvement in net loss was primarily driven by lower operating expenses and interest expense.
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For the first nine months of 2026, LASE reported net sales of $3.9 million, compared with $5.8 million in the prior-year period, and a net loss of $8.6 million, compared with $8.1 million a year earlier.
LASE reported cash and short-term investments of $7.6 million at Sept. 30, 2026, compared with $0.7 million at Dec. 31, 2025. It said it eliminated $4.6 million of outstanding notes payable and improved working capital by $11.1 million to $3.7 million, from a deficit of $7.3 million at the end of 2025.
The company said that during the first nine months of 2026 it raised about $19.6 million in net proceeds from public equity offerings and warrant transactions and fully repaid all outstanding notes payable, including related-party notes, with total debt repayments of $6.4 million. It also reported stockholders’ equity of $5.8 million at Sept. 30, compared with a stockholders’ deficit of $5.0 million at Dec. 31, 2025.
Leadership, governance and strategy updates
LASE said it appointed Timothy A. Peterman as Chief Financial Officer in September 2026 and named Dmitri Nikitin Executive Chairman and principal executive officer in October 2026, following Wayne Tupuola’s departure as Chief Executive Officer in October 2026. The company also outlined board changes, including the November 2026 appointments of Peterman and Sanjay Adhav as directors.
In September 2026, LASE said it completed a public equity offering that raised about $7.9 million in gross proceeds. The company also rebranded effective Nov. 4, 2026, changing its name from Laser Photonics Corporation while keeping its Nasdaq ticker symbol, LASE.
Looking ahead, LASE said it plans to introduce its Quantum Bullet™ anti-drone platform at the Interservice/Industry Training, Simulation and Education Conference in Orlando from Nov. 30 to Dec. 3, 2026. The company said the platform remains under development and that development, integration, testing and customer evaluation are still required before commercialization. LASE said it is not providing quantitative financial guidance.
The original press release is available on stockhouse.com
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