The company exhibits significant margin instability, evidenced by a gross margin contraction to -42.4% in 2026Q1 and an operating margin of -115.54% in the most recent period.
Laser Photonics Corporation (LASE) annual income statement — 7-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Sales/Revenue | 6.17M | 7.92M | 3.42M | 3.94M | 3.9M | 4.19M | 2.15M | 0 |
| Revenue Growth % | -11% | 131.96% | -13.31% | 0.96% | -6.89% | 94.48% | - | - |
| Cost of Goods Sold | 7.74M | 6.72M | 1.93M | 1.04M | 2.09M | 1.54M | 949.78K | 0 |
| COGS % of Revenue | - | 84.82% | 56.63% | 26.44% | 53.5% | 36.81% | 44.08% | - |
| Gross Profit | -1.56M | 1.2M | 1.48M | 2.9M | 2.87M | 2.13M | 1.2M | 0 |
| Gross Margin % | -25.32% | 15.18% | 43.37% | 73.56% | 73.47% | 50.86% | 55.92% | - |
| Gross Profit Growth % | - | -18.82% | -48.89% | 1.07% | 34.51% | 76.88% | - | - |
| Operating Expenses | 10.22M | 10.36M | 7.94M | 6.25M | 4.02M | 1.52M | 1.19M | 15.64K |
| OpEx % of Revenue | - | 130.72% | 232.62% | 158.55% | 102.96% | 36.28% | 55.43% | - |
| Selling, General & Admin | 10.18M | 9.84M | 5.78M | 5.3M | 3.46M | 1.12M | 1.17M | 15.64K |
| SG&A % of Revenue | - | 124.23% | 169.18% | 134.54% | 88.68% | 26.82% | 54.2% | - |
| Research & Development | 611.68K | 513.56K | 261.91K | 202.26K | 100.8K | 0 | 0 | 0 |
| R&D % of Revenue | - | 6.48% | 7.67% | 5.13% | 2.58% | - | - | - |
| Other Operating Expenses | -576.13K | 0 | 1.9M | 743.68K | 456.23K | 396.25K | 26.41K | 0 |
| Operating Income | -11.78M | -9.15M | -6.46M | -3.35M | -2.07M | 611.13K | 10.64K | -15.64K |
| Operating Margin % | -190.81% | -115.54% | -189.25% | -84.99% | -53.04% | 14.58% | 0.49% | - |
| Operating Income Growth % | - | -41.61% | -93.04% | -61.78% | -438.66% | 5643.18% | 168.05% | - |
| EBITDA | -11.01M | -8.04M | -5.49M | -2.82M | -1.63M | 1.01M | 37.05K | 78.18K |
| EBITDA Margin % | -178.32% | -101.52% | -160.79% | -71.71% | -41.82% | 24.04% | 1.72% | - |
| EBITDA Growth % | -72% | -46.46% | -94.39% | -73.11% | -261.99% | 2618.97% | -52.61% | - |
| D&A (Non-Cash Add-back) | 771.07K | 1.11M | 972.13K | 523.38K | 437.83K | 396.25K | 26.41K | 93.82K |
| EBIT | -16.22M | -9.15M | -5.53M | -3.32M | -2.07M | 633.81K | 10.64K | -93.82K |
| Net Interest Income | -819.64K | -4.39M | 0 | 0 | -24.43K | -49.35K | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 819.64K | 4.39M | 0 | 0 | 24.43K | 49.35K | 0 | 0 |
| Other Income/Expense | -8.44M | -8.3M | 3.94M | 30.06K | -24.43K | -26.67K | 0 | 0 |
| Pretax Income | -20.23M | -17.46M | -2.52M | -3.32M | -2.09M | 584.39K | 10.64K | -15.64K |
| Pretax Margin % | -327.57% | -220.35% | -73.75% | -84.23% | -53.67% | 13.94% | 0.49% | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -20.23M | -17.46M | -2.52M | -3.32M | -2.09M | 584.39K | 10.64K | -15.64K |
| Net Margin % | -327.57% | -220.35% | -73.75% | -84.23% | -53.67% | 13.94% | 0.49% | - |
| Net Income Growth % | -350.12% | -593.02% | 24.09% | -58.46% | -458.33% | 5391.91% | 168.05% | - |
| Net Income (Continuing) | -20.23M | -17.46M | -2.52M | -3.32M | -2.09M | 584.39K | 10.64K | -15.64K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.51 | -1.02 | -0.22 | -0.37 | -0.37 | 0.12 | 0.00 | -0.00 |
| EPS Growth % | -192.89% | -363.64% | 40.54% | 0% | -408.33% | - | - | - |
| EPS (Basic) | - | -1.02 | -0.22 | -0.37 | -0.37 | 0.12 | 0.00 | -0.00 |
| Diluted Shares Outstanding | 39.34M | 17.11M | 12.67M | 8.93M | 5.63M | 4.88M | 6.39M | 4.88M |
| Basic Shares Outstanding | 39.34M | 17.11M | 12.67M | 8.93M | 5.63M | 4.88M | 6.38M | 4.88M |
| Dividend Payout Ratio | - | - | - | - | - | 53.09% | - | - |
Quick answers to the most common questions about buying LASE stock.
For fiscal year 2025, Laser Photonics Corporation (LASE) reported total revenue of $7.9M.
Laser Photonics Corporation (LASE) reported a net loss of $17.5M for the fiscal year ending 2025.
Laser Photonics Corporation (LASE) reported an operating income of $-9.2M, resulting in an operating profit margin of -115.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Laser Photonics Corporation (LASE) generated $1.2M in gross profit for the year, representing a gross profit margin of 15.2%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Liquidity and capital exhaustion
Metrics are mathematically derived from official filings.
Volatile Revenue Growth Patterns Observed
As indicated by the quarterly financial data, LASE exhibits highly inconsistent top-line performance, with revenue fluctuations ranging from a 90.2% increase in 2025Q4 to a 60.0% contraction in 2026Q1, suggesting that the company's project-based sales model lacks the predictability required for sustained industrial scaling.
The extreme variance in quarterly revenue suggests that the company is heavily reliant on lumpy, non-recurring contracts rather than a stable base of industrial demand. Investors should monitor whether the firm can transition toward a more predictable revenue cadence, as the current volatility complicates long-term forecasting and operational planning.
Structural Margin Instability Remains Prevalent
Based on reported income statements, gross margins have demonstrated significant instability, swinging from a negative 42.4% in 2026Q1 to a peak of 85.0% in 2024Q3, which highlights the company's inability to maintain consistent pricing power or control over its variable component costs.
The erratic nature of these margins implies that the company may be struggling with supply chain inefficiencies or inconsistent pricing strategies across its diverse product portfolio. This lack of margin discipline suggests that the firm has yet to establish a defensible competitive moat in its manufacturing processes.
Operating Expenses Outpacing Revenue Scale
According to recent SEC filings, LASE's operating expenses consistently dwarf its gross profit, resulting in an operating margin of -115.54% in the most recent period, which demonstrates a failure to achieve the necessary operating leverage required to offset high fixed SG&A and R&D expenditures.
The persistent gap between revenue generation and overhead costs indicates that the company is currently prioritizing market penetration at the expense of operational viability. Without a significant shift in cost management, the current structure appears unsustainable and may necessitate further dilutive financing to maintain operations.
Sustainability of Current Business Model
As reported in financial statements, the company's net loss trajectory and minimal cash reserves of approximately $650,000 raise significant concerns regarding its ability to continue as a going concern without immediate external capital, challenging the narrative of a high-growth disruptor in the industrial laser space.
Short-sellers would likely focus on the disconnect between the company's aggressive growth claims and its inability to convert revenue into positive cash flow. The reliance on equity-based compensation and the potential for future dilutive offerings suggest that current shareholders face substantial risk of value erosion.