#1NLIGHT Investor Presentation June 2022#2nLIGHT at a Glance Focus Founded Headquarters 2021 Financials Patents Technology End Markets High-power semiconductor and fiber lasers 2000 Camas, WA USA $270M Revenue (21% y-o-y growth) $22.6M Adjusted EBITDA > 500 issued and pending Vertically integrated with leading technology in semiconductor and fiber lasers Industrial, aerospace and defense, and microfabrication NLIGHT 2 Adjusted EBITDA is a non-GAAP measure. Please refer to the appendix for a reconciliation of Adjusted EBITDA to net income (loss).#3nLIGHT Strategy | Continued technology innovation Technology Vertically integrated from semiconductor to laser beam delivery Market Focused on growing markets enabled by high power lasers Growth 21% growth in 2021 in-line with historical CAGR of > 20% NLIGHT Note: Revenue CAGR based on 2016-2020. 3#4nLIGHT Strategy | Vertically integrated from semiconductor to beam control Semiconductor Device Semiconductor Fiber Coupled Optical Fiber Fiber Integrated Laser Beam Control NLIGHT Percentages may not sum to 100% due to rounding. O O 4#5nLIGHT Strategy | Focused on growing markets Technology Vertically integrated from semiconductor to laser beam delivery Market Focused on growing markets enabled by high power lasers Financials 21% growth in 2021 in-line with historical CAGR of > 20% NLIGHT Note: Revenue CAGR based on 2016-2020. 5#6Revenue | Focused on growing applications Annual Revenue - Market $ Millions $300 $250 $200 CAGR 23% $270 Market 2021 vs. 2020 Change +21% Microfabrication $223 26% +36% $191 23% $177 $150 39% $139 35% 32% +12% 38% Industrial +66% Non-China -33% China $101 44% $100 47% 43% 43% Aerospace/Defense $50 41% 39% +21% 39% 34% 18% 24% 19% 15% $0 2016 2017 2018 2019 2020 2021 N LIGHT 6 Percentages may not sum to 100% due to rounding.#7Microfabrication | Proliferation of applications enabled by lasers SENCO OLED, Flexible and HDI PCBS 5G, connected devices, wearables Semiconductor Equipment AI/VR, automation, automotive, electronic devices Marking automotive, EV, semiconductor Medical aesthetics, automation, surgical Electronics and Adv Packaging proliferation of electronic devices Quantum Computing Lasers for quantum NLIGHT 7#8Interconnects PCB drilling, cutting, additive manufacturing and routing Display Touch patterning, lift-off, backplane crystallization Wafer Processing Scribing, dicing, and marking of wafers Component Test Multi-layer ceramic capacitors Flex Circuits Trimming, via hole drilling 0 Enclosure Marking, micro-hole drilling, cutting, frit sealing Microfabrication nLIGHT lasers enable new consumer electronics Circuit Trim Wafer & circuit resist trimming Cutting Glass, Sapphire, metal Note: illustrative application does not imply or constitute endorsement.#9Microfabrication | nLIGHT is a leader in core semiconductor laser technology Semiconductor Semiconductor Chip Laser Solid-State Laser Laser System N LIGHT element simply brilliant LIGHT NLIGHT IceFyre 9#10Industrial | Focused on three key applications Cutting Welding Market: Growth: > $1B > 10%/yr Market: Growth: > $300M > 15%/yr Market: Growth: Additive Manufacturing > $70M > 20%/yr NLIGHT Note: Market represents 2020 market size. Growth represents 2020-2023 expected growth. Source: Bernstein, Optech, IDC, and nLIGHT analysis. Images: illustrate representative applications. 10#11Metal Cutting nLIGHT high power fiber lasers cut thick metal Note: illustrative application does not imply or constitute endorsement.#12Industrial | Metal cutting High-Power Lasers for Metal Cutting* $ Millions $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 CO2 Lasers Fiber Lasers 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022F 2023F 2024F NLIGHT *Note:: CO2 Lasers include other legacy and fiber lasers include disk lasers Source: Optech & nLIGHT Analysis 12#13Cutting | Beam control optimizes thick and thin cutting with a single laser Thin Cutting Mode Nitrogen cutting of thin and non-ferrous metals Thick Cutting Mode Oxygen cutting of thick mild steel Small "Flat Top❞ Beam Large "Donut Mode" Beam NLIGHT 2D view from fiber end face (left) 3D beam intensity (right) 13 Images: illustrative representative applications.#14Welding nLIGHT fiber lasers enabling new electric vehicles Note: illustrative application does not imply or constitute endorsement. 000#15Welding | Beam control optimizes seam width, depth, and spatter reduction Deep Penetration Keyhole Welding Mode improved productivity with lower heat input and minimal distortion Small "Flat Top" Beam Shallow Conduction Welding Mode keyhole stability and spatter reduction in aluminum battery housings and other parts Large "Donut Mode" Beam NLIGHT 2D view from fiber end face (left) 3D beam intensity (right) 15#16ELO 9734 Additive Manufacturing nLIGHT fiber lasers making the impossible, possible VEL Note: illustrative application does not imply or constitute endorsement.#17Additive | Beam control allows fine processing and fast build rates Fine Feature Print Mode small spot size for printing of fine features Coarse Print Mode large spot size for faster build rates with good quality "Small "Flat Top" Beam Large "Donut Mode" Beam NLIGHT 2D view from fiber end face (left) 3D beam intensity (right) 17#18nLIGHT Strategy | Vertically integrated from semiconductor to beam control Semiconductor Device Semiconductor Fiber Coupled Optical Fiber Fiber Integrated Laser Beam Control NLIGHT Percentages may not sum to 100% due to rounding. 0 plasmo real-time process monitoring solutions February 2022 | nLIGHT Acquires Plasmo Industrietechnik 18#19Defense | Strong track record in broad range of applications Ranging Countermeasures Space Communications Exploration NLIGHT Guidance Images: Illustrative products and applications neither implies nor constitutes endorsement. Directed Energy 19#20Directed Energy | High priority for the Department of Defense U.S. Budget for High-Energy Lasers for Directed Energy $ Millions $1,200 $1,000 $800 $600 $400 $200 $0 2015 2016 2017 2018 2019 2020 2021 N LIGHT Note: US Federal Fiscal Year Budget Analysis. Source: Based on data and analysis provided by the Directed Energy Professional Society, Cypress International and the Department of Defense Budget. 20 20#21Defense | Vertically integrated from semiconductor to beam control Semiconductor Device Semiconductor Fiber Coupled Optical Fiber Fiber Beam Laser Control NLIGHT O 0 O 21 24#22Defense | Directed energy weapons require power well beyond commercial markets Single Mode Fiber Laser Power Watts 1,000,000 100,000 10,000 1,000 100 10 1995 2000 NLIGHT Source: Jeff Hecht; nLIGHT Analysis High Energy Laser Scaling Initiative HELSI 2005 2010 2015 2020 2025 22 22#23nLIGHT Strategy | Continued technology innovation Technology Vertically integrated from semiconductor to laser beam delivery Market Focused on geographies and markets driven by growing applications Growth NLIGHT 21% growth in 2021 in-line with historical CAGR of > 20% Note: Revenue CAGR based on 2016-2020. 23 23#24- 2021 Revenue | 21% Y-O-Y growth in '21 – in line with historical CAGR nLIGHT Worldwide Revenue $ Millions $300 $250 $200 CAGR 23% $150 $139 $101 $100 $87 $63 $50 $191 $177 $223 $270 $0 2014 2015 2016 2017 2018 2019 2020 2021 YOY Growth 37% 16% 37% 38% -8% 26% 21% N LIGHT 24 24#25Annual Revenue | Non-China 2021 revenue grew 41% y-o-y to a record $215M Annual Revenue - Geography $ Millions Geography 2021 vs. 2020 Change +21% $300 $250 $200 $150 $270 20% $223 $191 $177 32% 37% $139 36% $101 40% $100 80% 38% 68% 63% $50 64% 60% 62% $0 2016 2017 2018 2019 2020 2021 N LIGHT Percentages may not sum to 100% due to rounding. China -22% Non-China +41% 25 45#26Quarterly Revenue | 89% of total Q1'22 revenue from Non-China customers Quarterly Revenue - Geography $ Millions $75 Geography Q1 22 vs. Q1 '21 Change +5% $60 $72 $69 $67 $66 $64 19% $62 $61 11% 11% China 27% -54% 28% $52 25% 31% $52 $51 $48 $46 $45 $42 $42 $44 $43 $43 33% $37 $37 41% 46% 32% 38% $35 28% 36% 33% 40% 35% $30 $30 $29 38% $25 $26 40% 43% $22 40% 40% $15 29% 41% 40% 71% 59% 60% 60% 30% 57% 50% 52% 54% 54% 81% 89% 89% 73% 72% 75% 69% 67% 68% 67% 62% 60% 65% 72% 59% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 $0 Q1 Q2 Q3 Q4 Q1 2016 2017 N LIGHT Percentages may not total to 100 due to rounding 2018 2019 2020 Q2 Q3 Q4 Q1 2021 2022 Non-China +25% 26 26#27Quarterly Revenue | By end market Quarterly Revenue - By Market $ Millions $75 $60 Market Q1 22 vs. Q1 '21 Change +5% $72 $69 $67 $66 $64 $62 $61 24% Microfabrication 20% 29% 25% +14% 27% $52 23% 25% $52 $51 $48 $46 $45 $42 $42 $44 $43 $43 27% $37 $37 38% 39% 36% 37% 38% 33% $35 41% 30% 26% 24% 35% 36% 35% Industrial +12% 37% 37% 35% $30 $30 $29 $25 $26 40% 45% 46% $22 42% 44% 46% 50% $15 51% 43% 37% 43% 41% 43% 49% 44% 38% 43% 45% 44% 44% 38% 42% 38% 38% 40% 42% 42% 40% 35% 36% -6% 35% 33% 39% 29% 28% 30% 19% 19% 17% 20% 18% 14% 14% 16% 18% 13% 20% 21% 22% 19% 26% $0 Aerospace/Defense Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2016 NLIGHT 2017 Percentages may not total to 100 due to rounding 2018 2019 2020 2021 2022 27#28Industrial Revenue | 77% y-o-y growth in non-China Industrial revenue in Q1 '22 Non-China Industrial Revenue $ Millions $25 $20 $15 $10 $9 $5 $0 2x Increase $21 $12 Q120 Q121 Q122 YOY Growth 32% 77% N LIGHT 28#29Summary Financial Results | Revenue and Gross Margin Full Year and Quarterly $ Millions; % of Revenue Total Revenue Products Revenue Q1 2021 Q1 2022 2020 2021 $61.3 $64.5 $222.8 $270.1 47.3 51.1 184.8 206.2 Development Revenue 14.0 13.4 37.9 64.0 Gross Margin 28.8% 25.1% 26.6% 28.6% Products Margin 35.8% 30.0% 30.6% 35.6% Development Margin 5.0% 6.6% 7.3% 6.2% NLIGHT 29 29#30Gross Margin | Product and Development Revenue and Gross Margin - Quarterly $ Millions; % of Revenue $80 Revenue $70 35% 36% Overall GM % Products GM % 37% 36% 36% 36% 32% 40% 33% 35% 35% 34% 34% 33% 33% 30% $60 32% 30% 31% 28% 30% 29% 30% 30% 29% 29% 30% $50 24% 24% 28% 27% 25% 25% 25% 24% 23% $40 22% 22% 20% $30 15% 15% $20 10% $10 5% $0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2016 2017 2018 2019 2020 2021 2022 NLIGHT 50 30#31Operating Expenses | R&D and SG&A Operating Expenses (Non-GAAP) $ Millions; % of Revenue $20 40% $18 SG&A R&D $18.8 $18.1 $18.2 $17.6 35% OpEx as % of Sales $16 $15.1 $14.7 $14.3 30% $14.2 8.4 $14 7.8 8.1 $12.5 $13.0 $12.9 7.7 $12.8 $12.9 $12.1 25% $12 $11.4 $11.2 6.5 7.1 $10.4 6.4 7.3 $10 20% 6.7 7.0 7.2 6.9 6.2 6.0 $8 6.7 6.3 15% 6.1 $6 9.9 10.3 10.4 10.1 10% $4 7.9 8.2 8.1 6.9 5.8 5.9 5.8 6.0 6.1 6.5 $2 4.3 4.7 5.0 5% $0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2018 2019 2020 2021 2022 NLIGHT Note: Excluding stock-based compensation expense, amortization of purchased intangibles and acquisition and integration-related costs. See Appendix for a reconciliation to GAAP operating expenses. 31#32Summary Financial Results | Profitability and Cash Flow Full Year and Q1 2022 $ Millions; % of Revenue Net Income (Loss) Q1 2021 Q1 2022 2020 2021 ($6.1) ($8.6) ($20.9) ($29.7) 2.6 (1.6) 7.3 10.7 Non-GAAP Net Income (Loss)* Net Income (Loss) Per Share (diluted) (0.15) (0.20) (0.55) (0.70) Non-GAAP Net Income (Loss) Per Share (diluted)* 0.06 (0.04) 0.17 0.23 Adjusted EBITDA (non-GAAP)* 6.0 2.0 18.2 22.6 Cash Flow from (used in) Operations 4.1 (7.0) 13.0 (7.4) Capital Expenditures (3.2) (5.1) (23.4) (19.3) N LIGHT * See Appendix for reconciliation to most directly comparable GAAP measure 32 32#33Strong Balance Sheet and Working Capital Management Cash and Debt Position ($M) Accounts Receivable ($M) and Days Sales Outstanding (DSO) Inventory ($M) and Days of Inventory (DOI) $200 $90 70 $90 141 150 $186 131 $175 $175 $166 $80 $80 128 119 $77 135 117 56 60 $74 55 113 115 $71 120 $147 $70 52 $70 $150 105 106 $135 47 45 46 50 $63 50 $59 105 $125 $116 $121 $110 $102 $60 44 $60 $53 $55 $50 38 35 40 40 $49 $51 90 $50 $100 $42 75 $40 $37 $36 $37 30 30 $40 $75 $50 $25 $15 $15 $0 Q120 Q320 $32 $32 60 $30 $27 $30 $24 $23 20 20 45 $20 $20 30 10 $10 $10 15 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Q121 Q321 Q122 Q120 Q320 Q121 Q321 Q122 Q120 Q320 Q121 Q321 Q122 N LIGHT ■Cash ■ Debt Accounts Receivable DSO Inventory -DOI 33 33#34nLIGHT simply brilliant#35Appendix#36Supplemental Information | Revenue and Gross Margin nLight, Inc. (in thousands, except per share data) Revenue: Products Development Total revenue Q1 02 2018 Q3 Q4 Totals Q1 Q2 2019 Q3 Q4 Totals Q1 Q2 2020 Q3 Q4 Totals Q1 Q2 2021 Q3 Q4 Totals 2022 Q1 $ 42,467 $ 51,705 $ 51,025 $ 46,162 $191,359 $ 41,861 $ 48,048 $ 43,814 $ 42,467 51,705 51,025 46,162 191,359 41,861 48,048 43,814 40,336 $ 174,059 $ 2,560 2,560 42,896 176,619 36,930 $ 6,285 45,104 $ 51,117 $ 7,034 10,615 43,215 52,138 61,732 51,690 $ 184,841 $ 14,014 65,704 37,948 47,335 $ 14,010 53,561 $ 54,393 $ 50,906 $ 206,195 $ 51,061 15,552 17,842 16,547 63,951 13,398 222,789 61,345 69,113 72,235 67,453 270,146 64,459 Cost of revenue: Products 27,738 34,026 32,978 29,656 124,398 28,347 32,177 30,852 30,637 122,013 27,900 32,597 34,645 33,113 128,255 30,395 34,240 34,193 34,039 132,867 $ 35,768 Development Total cost of revenue 27,738 34,026 32,978 29,656 124,398 28,347 32,177 30,852 2,267 32,904 2,267 124,280 5,814 6,485 9,927 12,944 35,170 13,305 14,548 16,647 15,472 59,972 12,514 33,714 39,082 44,572 46,057 163,425 43,700 48,788 50,840 49,511 192,839 48,282 Gross profit: Products 14,729 17,679 18,047 16,506 66,961 13,514 15,871 12,962 Development Total gross profit 14,729 17,679 18,047 16,506 66,961 13,514 15,871 12,962 9,699 293 9,992 52,046 9,030 12,507 16,472 18,577 56,586 16,940 19,321 20,200 16,867 73,328 15,293 293 52,339 471 9,501 549 13,056 688 17,160 1,070 19,647 2,778 59,364 705 1,004 1,195 1,075 3,979 884 17,645 20,325 21,395 17,942 77,307 16,177 Gross margin: Products 34.7 % 34.2 % 35.4% 35.8% 35.0% 32.3 % 33.0% 29.6% 24.0% 29.9% 24.5% 27.7 % 32.2% 35.9% 30.6% 35.8 % 36.1 % 37.1 % 33.1 % 35.6% 30.0% Development Total gross margin 11.4 % 11.4 % 7.5% 7.8% 6.5% 34.7% 34.2 % 35.4 % 35.8% 35.0% 32.3 % 33.0% 29.6 % 23.3 % 29.6 % 22.0% 25.0 % 27.8 % 7.6% 29.9% 7.3% 5.0% 6.5% 6.7% 6.5% 6.2% 6.6% 26.6% 28.8 % 29.4 % 29.6 % 26.6% 28.6% 25.1% NLIGHT 36#37GAAP to Non-GAAP Reconciliation | Operating Expenses nLight, Inc. (in thousands, except per share data) GAAP research and development ("R&D") expense Non-GAAP adjustments: Stock-based compensation in R&D Amortization of purchased intangibles Non-GAAP R&D expense GAAP selling, general and administrative ("SG&A") expense Non-GAAP adjustments: Stock-based compensation in SG&A Non-GAAP SG&A expense Acqusition and integration-related costs NLIGHT 2018 2019 2020 2021 2022 Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 $ 4,283 $ 4,898 $ 5,475 $ 6,398 $ 21,054 $ 6,422 $ 6,494 $ 6,402 $ 8,819 $ Totals 28,137 $ Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 Totals Q1 8,538 $ 9,472 $ 11,126 $ 12,028 $ 41,164 $ 11,710 $ 14,282 $ 14,838 $ 13,984 $ 54,814 $ 13,711 (25) (200) (513) (555) (1,293) (558) (711) (424) $ 4,258 $ 4,698 $ 4,962 $ 5,843 $ 19,761 $ 5,864 $ 5,783 $ 5,978 $ (1,606) (328) 6,885 $ (3,299) (328) 24,510 $ (1,782) (656) 6,100 $ (2,275) (656) 6,541 $ (2,545) (3,101) (696) (716) (9,703) (2,724) (2,918) (717) (3,708) (3,782) (3,025) (13,433) (3,122) 7,885 $ 8,211 $ 28,737 $ 8,075 $ (718) (718) 9,856 $ 10,338 $ (518) (2,671) (472) 10.441 $ 38,710 $ 10,116 6,239 7,232 7,483 7,890 28,844 8,144 8.572 7,257 10,139 34,111 7,700 9,633 10,010 11,905 39,248 11,714 15,057 13,316 12,623 52,710 10,775 (115) (544) (1,207) (1,190) (3,056) (1,142) (1,403) (315) $ 6,124 $ 6,688 $ 6,276 $ 6,700 $ 25,788 $ 7,002 $ 7,169 $ (2,370) (470) 6,942 $ 7,299 $ (5,230) (470) (1,636) (50) (3,423) (3,633) (5,448) 28,411 $ 6,014 $ 6,210 $ 6,377 $ 6,457 $ (14,140) (50) 25,058 $ (4,645) (7,349) (5,550) (4,238) (21,782) (2,722) 7,069 $ 7,708 $ 7,766 $ 8,385 $ 30,928 $ 8,053 37#38GAAP to Non-GAAP Reconciliation | Adjusted EBITDA, Net Income and EPS nLight, Inc. 2018 2019 2020 (in thousands, except per share data) Net income (loss) Adjustments: Income tax expense (benefit) Other (income) expense Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 Totals $ 2,916 $ 4,653 $ 4,009 $ 2,360 $ 13,938 $ (1,235) $ (155) $ (778) $ (10,716) $ (12,884) $ (7,475) $ (6,830) $ (2,110) $ (4,517) $ (20,932) $ Q1 (6,149) $ Q2 2021 Q3 2022 Q4 Totals (7,890) $ (6,880) $ (8,750) $ (29,669) $ Q1 (8,623) 1,149 848 839 764 3,600 1,753 793 837 2,736 6,119 905 (76) 42 537 (250) 253 (820) 907 (90) (532) (535) 116 418 298. (1,485) 502 340 322 Interest (income) expense, net 219 6 (298) (655) (728) (750) (740) (665) (454) (2,609) (283) 65 Depreciation and amortization 1,946 2,172 2,194 1,976 8,288 2,212 2,269 2,313 2,770 9,564 3,161 3,268 (477) 96 3,504 (315) (378) (26) (1,038) (118) 203 138 (375) 343 (102) (90) (336) (29) 44 (78) 74 3,752 13,685 3,717 Stock-based compensation 162 806 1,903 1,934 4,805 1,909 2,381 1,079 4,361 9,730 3,763 6,037 6,683 8,981 Acquisition and integration-related costs Adjusted EBITDA $ 6,316 $ 8,527 $ 9,184 $ 6,129 $ 30,156 $ 3,069 $ 5,455 $ 2,696 $ 470 (1,365) $ 470 9,855 $ 50 237 $ 25,464 50 8,054 32 3,695 11,606 20 37 163 (0) 3,899 10,072 3,748 15,059 3,738 7,988 37,720 6,553 3,256 $ 6,211 $ 8,447 $ 18,151 $ 5,992 $ 6,287 $ 7,212 $ 3,071 $ 22,562 $ 1,982 Net income (loss) $ 2,916 $ 4,653 $ 4,009 $ 2,360 $ 13,938 $ (1,235) $ (155) $ (778) $ (10,716) $ (12,884) $ (7,475) $ (6,830) $ (2,110) $ (4,517) $ (20,932) $ (6,149) $ (7,890) $ (6,880) $ (8,750) $ (29,669) $ (8,623) Add back: (1) Stock-based compensation 162 806 1,903 1,934 4,805 1,909 2,381 1,079 4,361 9,730 3,763 6.037 6,683 8,981 25,464 8,054 11,606 10,072 7,988 37,720 6,553 Valuation allowance on foreign deferred tax assets 3,423 3,423 Acquisition and integration-related costs 470 470 Amortization of purchased intangibles 328 328 50 656 Non-GAAP net income (loss) 3,078 $ 5,459 $ 5,912 $ 4,294 $ 18,743 $ 674 $ 2,226 $ 301 $ (2,134) $ 1,067 $ (3,006) $ 656 (137) $ 696 716 5,269 $ 5,180 $ 50 2,724 717 7,306 $ 2,622 $ 718 4,434 $ 718 518 2,671 472 3,910 $ (244) $ 10,722 $ (1,598) GAAP weighted-average shares outstanding 3,031 Assumed conversion of convertible preferred stock to common stock Participating securities 24,642 24,491 7,940 35,007 36,441 24,862 8,056 36,694 37,065 37,262 37,463 37,119 37,846 38,177 38,558 38,877 38,367 40,048 42,313 42,884 43,277 42,142 43,655 444 Non-GAAP weighted-average number of shares, basic 27,673 32,431 35,007 36,441 32,918 Dilutive effect of common stock equivalents 4,492 5,265 5,325 4,798 Non-GAAP weighted-average number of shares, diluted 32,165 37,696 40,332 41,239 5,097 38,015 36,694 4,585 41,279 37,065 4,391 41,456 37,706 4,016 41,722 37,463 37,463 319 37,438 4,360 41,798 629 37,846 38,177 37,846 38,177 39,187 4,290 43,477 653 39,530 4,654 44,184 544 38,911 4,228 43,139 653 40,701 4,691 45,392 614 42,927 4,334 47,261 774 43,658 3,986 47,644 43,277 699 42,841 43,655 4,341 43,277 47,182 43,655 Non-GAAP net income (loss) per share, basic $ Non-GAAP net income (loss) per share, diluted 0.11 $ 0.10 0.17 $ 0.14 0.17 $ 0.15 0.12 $ 0.10 0.57 $ 0.49 0.02 $ 0.02 0.06 $ 0.05 0.01 $ 0.01 (0.06) $ (0.06) 0.03 $ 0.03 (0.08) $ 0.00 $ (0.08) 0.13 $ 0.00 0.12 0.13 $ 0.12 0.19 $ 0.17 0.06 $ 0.06 0.10 $ 0.09 0.09 $ (0.01) $ 0.25 $ 0.08 (0.01) (0.04) 0.23 (0.04) NLIGHT (1) There is no income tax effect related to the stock-based compensation, acquisition and integration-related costs, and amortization of purchased intangibles adjustments due to the full valuation allowance in the U.S. 38#39Supplemental Information | Key Revenue Metrics nLight, Inc. 2018 2019 2020 (in thousands, except per share data) Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 Totals Q1 Q2 Q3 Q4 Totals Q1 Q2 2021 Q3 2022 Q4 Totals Q1 Revenues by end market Industrial $ 19,146 $ 25,251 $ 20,890 $ Microfabrication 15,619 19,497 19,922 17,476 $ 19,071 82,762 $ 74,109 18,124 $ 20,920 $ 18,977 $ 18,647 $ 76,669 $ 14,533 18,094 13,280 11,246 57,152 15,990 $ 10,419 22,630 $ 21,880 $ 14,300 14,052 23,978 $ 12,878 84,478 $ 51,649 21,400 $ 15,215 24,907 $ 20,274 26,737 $ 21,751 $ 94,795 $ 23,996 17,695 17,228 70,412 17,319 Aerospace and defense Total revenues 7,703 6,957 10,213 42,467 51,705 51,025 9,615 46,162 34,488 9,204 191,359 41,861 9,034 48.048 11,556 13,003 42,798 16,806 15,208 25,800 28,848 86,662 24,730 23,932 27,803 28,474 104,939 23,144 43,814 42,896 176,619 43,215 52,138 61,732 65,704 222,789 61,345 69,113 72,235 67,453 270,146 64,459 Industrial as % of total 45% 49 % 41% 38 % 43 % 43 % 44 % 43% 43 % 43 % 37 % 43 % 35% 36% 38 % 35 % 36% 37% 32% 35% 39% Microfabrication as % of total 37 % 38 % 39% 41% 39 % 35% 38 % 30% 26% 32 % 24 % 27% 23 % 20% 23% 25% 29 % 25% 26% 26 % 28 % Aerospace and defense as % of total 18% 13% 20% 21% 18 % 22% 19% 26% 30% 24% 39 % 29% 42% 44% 39% 40% 35% 38 % 42% 39% 38% Revenues by geography North America China Rest of World Total revenues $ 16,109 $ 16,101 $ 20,101 $ 18,052 $ 70,362 $ 15,697 $ 17,899 $ 16,249 $ 17,217 $ 67,062 $ 21,046 $ 15,212 23,923 16,683 14,720 70,538 13,725 18,444 17,519 14,883 64,573 12,042 20,494 $ 21,495 31,384 $ 34,700 $107,624 $ 31,134 $ 33,095 $ 37,430 $ 41,573 $ 143,232 $ 35,144 19,186 18,159 70,882 15,577 18,759 11,146 11,682 14,241 13,390 50,459 12,438 11,705 10,045 10,795 44,985 10,127 10,149 11,162 12,845 44,283 14,634 17,259 13,709 21,096 7,401 18,479 55,446 71,468 7,139 22,176 42,467 51,705 51,025 46,162 191,359 41,861 48,048 43,814 42,896 176,619 43,215 52,138 61,732 65,704 222,789 61,345 69,113 72,235 67,453 270,146 64,459 North America as % of total 38 % 31 % 39 % 39% 37 % 37% 37 % 37% 40% 38 % 49% 39 % 51 % 53% 48 % 51 % 48 % 52% 62% 53% 55 % China as % of total 36 % 46% 33 % 32% 37% 33 % 38 % 40% 35% 37% 28% 41% 31 % 28% 32% 25% 27 % 19 % 11% 21 % 11% Rest of World as % of total 26% 23% 28% 29% 26 % 30% 24 % 23 % 25% 25% 23 % 19 % 18 % 20% 20 % 24% 25% 29% 27% 26 % 34% Fiber laser revenue by power level High-power (>= 6kW) 17 % 24 % 30% 27% 24 % 24 % 35% 40 % 47 % 37% 49% 54 % 58 % 47% 52 % 54 % 51 % 50% 40 % 49 % 39% Medium-power (2kW - 5kW) 49% 44 % 43 % 51% 47 % 57 % 48 % 39 % 39% 45 % 39% 35% 34 % 39% 36% 29% 32% 23% 29% 28 % 26% Low-power (<2kW) 34 % 32% 27 % 22% 29% 19% 17 % 20% 14% 17 % 12% 11 % 8% 14% 11 % 17 % 17% 27% 31 % 23% 35% NLIGHT Note: Percentages may not total to 100 due to rounding. 39#40Supplemental Information | Revenue by power level Fiber Laser Revenue by Power - Quarterly Percent of total fiber laser sales 100% 90% 27% 31% 35% Low Power < 2kW 23% 29% 26% 80% 34% 32% 27% 22% 19% 17% 20% 14% 12% 11% 9% 14% 17% 17% 70% - 50% 59% 64% 61% 58% 51 % 49% 43% 60% 35% 34% 39% 39% 39% 29% 32% 48% 39% 50% 40% 30% 43% 51% 57% 44% 49% 43% 39% 45% Medium Power 2kW - 5kW 58% 54% 54% 47% 49% 47% 51% 50% 20% -40% 41% 36% 39% 40% 40% 35% 40% 39% 30% High Power >6kW 27% 24% 24% 10% 13% 14% 17% 2% 4% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2016 2017 2018 2019 2020 2021 2022 NLIGHT Note: Percentages may not total to 100 due to rounding. 40 40