IPG Photonics Corporation (IPGP) Revenue History
Annual and quarterly revenue from 2004 to present
IPGP Revenue Over Time (2004–2025)
IPGP Revenue Growth History
15 of 21 years with positive growth- FY2004 revenue growth
- N/A
- FY2005 revenue growth
- +58.8%
- FY2006 revenue growth
- +48.6%
- FY2007 revenue growth
- +31.7%
- FY2008 revenue growth
- +21.4%
- FY2009 revenue growth
- -18.9%
- FY2010 revenue growth
- +61.0%
- FY2011 revenue growth
- +58.6%
- FY2012 revenue growth
- +18.6%
- FY2013 revenue growth
- +15.2%
- FY2014 revenue growth
- +18.8%
- FY2015 revenue growth
- +17.1%
- FY2016 revenue growth
- +11.6%
- FY2017 revenue growth
- +40.0%
- FY2018 revenue growth
- +3.6%
- FY2019 revenue growth
- -10.0%
- FY2020 revenue growth
- -8.7%
- FY2021 revenue growth
- +21.7%
- FY2022 revenue growth
- -2.1%
- FY2023 revenue growth
- -9.9%
- FY2024 revenue growth
- -24.1%
- FY2025 revenue growth
- +2.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $278.6M | +11.1% |
| Q1 2026 | $265.5M | +16.6% |
| Q4 2025 | $274.5M | +17.1% |
| Q3 2025 | $250.8M | +7.6% |
| Q2 2025 | $250.7M | -2.7% |
| Q1 2025 | $227.8M | -9.6% |
| Q4 2024 | $234.3M | -21.6% |
| Q3 2024 | $233.1M | -22.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
IPGP's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
IPGP Revenue Analysis (2004–2025)
Current Revenue & Growth
As of September 23, 2026, IPG Photonics Corporation (IPGP) generated trailing twelve-month (TTM) revenue of $1.07 billion, reflecting strong growth of +11.1% year-over-year. The most recent quarter (Q2 2026) recorded $278.6 million in revenue, up 4.9% sequentially.
Historical Growth Trajectory
IPGP's 5-year compound annual growth rate (CAGR) stands at -3.5%, indicating revenue contraction over this period. The 3-year CAGR of -11.1% is below the 5-year average, signalling a growth deceleration in recent years. IPG Photonics Corporation's highest annual revenue of $1.46 billion was recorded in 2021.
Revenue by Segment
IPGP's revenue is primarily driven by High Power Continuous Wave CW Lasers (42%), Laser And Non-Laser Systems (20%), and Pulsed Lasers (19%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Technology sector peers — including LITE (+83.2% YoY), NPKI (+28.1% YoY), and MKSI (+16.3% YoY) — IPGP has underperformed the peer group in revenue growth. Compare IPGP vs LITE →
IPGP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| IPGPCurrent | $1.1B | +11.1% | -3.5% | 1.3% | |
 LITE | $1.6B | +83.2% | -0.4% | -11.7% | |
 NPKI | $277M | +28.1% | -10.9% | 16.9% | |
 MKSI | $3.9B | +16.3% | +11.0% | 14.4% | |
 NOVT | $981M | +7.6% | +10.7% | 11.9% | |
 VIAV | $1.1B | +40.0% | -0.9% | 6.5% |
IPGP Historical Revenue Data (2004–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.00B | +2.7% | $381.5M | 38.0% | $13.1M | 1.3% |
| 2024 | $977.1M | -24.1% | $338.2M | 34.6% | $-208,254,000 | -21.3% |
| 2023 | $1.29B | -9.9% | $541.7M | 42.1% | $232.0M | 18.0% |
| 2022 | $1.43B | -2.1% | $555.4M | 38.9% | $169.5M | 11.9% |
| 2021 | $1.46B | +21.7% | $696.4M | 47.7% | $367.9M | 25.2% |
| 2020 | $1.20B | -8.7% | $539.0M | 44.9% | $198.7M | 16.5% |
| 2019 | $1.31B | -10.0% | $606.2M | 46.1% | $233.8M | 17.8% |
| 2018 | $1.46B | +3.6% | $800.3M | 54.8% | $523.4M | 35.9% |
| 2017 | $1.41B | +40.0% | $796.9M | 56.6% | $551.1M | 39.1% |
| 2016 | $1.01B | +11.6% | $552.2M | 54.9% | $364.3M | 36.2% |
| 2015 | $901.3M | +17.1% | $491.9M | 54.6% | $342.0M | 38.0% |
| 2014 | $769.8M | +18.8% | $416.5M | 54.1% | $283.8M | 36.9% |
| 2013 | $648.0M | +15.2% | $339.9M | 52.5% | $218.1M | 33.7% |
| 2012 | $562.5M | +18.6% | $304.7M | 54.2% | $208.9M | 37.1% |
| 2011 | $474.5M | +58.6% | $257.3M | 54.2% | $175.5M | 37.0% |
IPGP Chart Terminal
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
IPGP — Frequently Asked Questions
Quick answers to the most common questions about buying IPGP stock.
Is IPGP's revenue growth accelerating or slowing?
IPGP revenue growth is holding steady at +11.1% year-over-year. TTM revenue is $1.1B. The current growth rate closely tracks the 5-year CAGR of -3.5%, signalling consistent execution.
What is IPGP's revenue history from 2004 to 2026?
IPG Photonics Corporation (IPGP) revenue history spans 2004 to 2026. TTM revenue as of 2026 is $1.1B, growing at +11.1% YoY. The 5-year CAGR is -3.5%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is IPGP's long-term revenue growth rate (CAGR)?
IPG Photonics Corporation's 5-year revenue CAGR of -3.5% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +11.1% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for IPGP.
Why does IPGP's quarterly revenue fluctuate?
IPGP quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. IPG Photonics Corporation's revenue data from 2004 to 2026 shows full historical quarterly detail on this page.
How is IPGP's revenue distributed by segment?
IPGP reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does IPGP's revenue compare to industry peers?
IPG Photonics Corporation (IPGP) with TTM revenue of $1.1B and +11.1% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.