Positive context积极背景
Stocks股票 / Tech / LASR
nLIGHT Inc · Tech
LASR US listed · USD美股 · 美元
Tech
Russell 2000罗素2000
Speculative / unprofitable投机／未盈利
$40.33
-$0.29 · -0.71%
52w low52周低 $27.26high高 $88.66
Neutral — no clear edge中性 — 无明显优势
Daily low forming, but the bigger trend is still bearish. Small size only; stop below 37.92.日线低点正在形成，但大趋势仍偏空。只适合小仓位；止损设于 37.92 下方。
As of 2026-09-27截至 2026-09-27
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
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Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-09-27
Momentum (RSI 14)动量（RSI 14）
41
Neutral zone中性区域
vs 50-day average相对50日均线
-22.2% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
-30.2% below下方
Long trend down长期向下
Volatility波动率
11th percentile第11百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
next report下次财报 2026-11-0539
Mixed — beat 2 of last 4 quarters表现不稳 — 近 4 季中 2 季超预期
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 -39.2%
Financials财务数据
fiscal years财年Revenue营业收入
$261.3M2025
20202025
5-yr growth5年复合增速 3.2%
Earnings per share每股收益
$-0.472025
20202025
Free cash flow自由现金流
$12.3M2025
20202025
Gross margin毛利率
29.8%
Operating margin营业利润率
-10.2%
Net margin净利率
-9.0%
FCF margin自由现金流利润率
8.2%
Balance-sheet quality财务体质 5/8
Return on equity股本回报率 -10%
Watch关注
Leverage杠杆
Current ratio流动比率3.79
Capital allocation资本配置
Stock-based comp股权薪酬$33.4M
Share count change (1y)股数变化（1年）+4.5%
Debt coming due到期债务
FY2018 10-KIn the 12-month bucket following fiscal period end 2018-12-31, it reported $106.0K due — about 70% of its disclosed principal.在财年期末 2018-12-31 之后12个月的区间内，已披露到期本金为 $106.0K，约占其披露本金的 70%。
All maturity buckets are measured from fiscal period end 2018-12-31, not from today.所有到期区间均从财年期末 2018-12-31 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
$106.0K
Year 2第2年
$45.0K
Year 3第3年
not reported未披露
Year 4第4年
not reported未披露
Year 5第5年
not reported未披露
After year 55年以后
not reported未披露
Cash reported at 2025-12-31: $98699000.截至 2025-12-31 披露的现金：$98699000。 Operating cash flow exceeded or equaled equipment spending over 2025-01-01 to 2025-12-31; no cash burn to measure.在 2025-01-01 至 2025-12-31 期间，经营现金流不低于设备支出，无可衡量的现金消耗。
Capital-need coverage is partial; incomplete or incompatible filing inputs are not combined.资本需求覆盖信息不完整；不会合并不完整或不兼容的报告数据。
Any available cash-flow scenario is context only. Missing or incompatible inputs are not replaced with zero or a financing forecast.可用现金流情景仅供参考；缺失或不兼容的输入不以零值或融资预测替代。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001124796-19-000032, period ending报告期截至 2018-12-31, unit单位 USD.
Cache acquired缓存获取时间: 2026-09-27T08:38:59.080973+00:00.
2/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwoLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree— absentLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour— absentLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive— absentLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive— absent
Annual period年度区间 2025-01-01 — 2025-12-31 · USD · 10-K · 0001124796-26-000012 · Filed提交日期 2026-02-27.
Cache acquired缓存获取时间: 2026-09-27T08:38:59.080973+00:00 · Evaluated as of评估截至 2026-09-28.
- Reported operating cash flow已披露经营活动现金流: $21330000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $9032000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $12298000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
LASR broke down vs the marketLASR 相对市场走弱
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$40.7M net (0 buyers, 4 sellers)-$40.7M 净值（0 买家，4 卖家）
Concentrated ownership集中持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | As of截至 |
|---|---|---|---|---|
| Polen Capital Management | C | Adding加仓 | 0.1% | 2026-06-30 |
Signal history信号历史
engine events引擎事件
DOWNTREND → UNCONFIRMED TURN下跌趋势 → 未确认转向
HIGH-RISK · NIMBLE ONLY. A daily bottoming setup is forming (swing low in, momentum turned up) — but the higher timeframes haven't confirmed it: the bigger picture is still bearish (weekly momentum negative; investor cycle overdue; last cycle left-translated (topped early)). This is an UNCONFIRMED TURN, not a confirmed buy. Weekly confirmation lags price, so this exact reading covers BOTH bounces that fail AND the first leg of a genuine new cycle — you can't tell which in real time, so treat it as a risk/size signal, not a direction call. Measured: weekly-unconfirmed bottoming setups held the low ~49% of the time vs ~68% once the weekly turns up. The daily cycle has also failed (broke its own start low), which tilts the odds toward failure here. Last cycle was left-translated (topped early) — a bearish structural tell高风险 · 仅限灵活操作。正在形成日线筑底形态（摆动低点已现、动量转向上行）——但更高周期尚未确认：大局仍偏空（周线动量为负；投资者周期已逾期；上一周期左移（见顶偏早））。这是「未确认转向」，并非已确认的买入。周线确认滞后于价格，因此同样的读数既涵盖最终失败的反弹，也涵盖真正新周期的第一段——实时无法判定属于哪一种，故应将其视为风险/仓位信号，而非方向判断。实测：周线未确认的筑底形态约 49% 守住低点，周线转向后升至约 68%。日线周期同样已经失败（跌破其自身起始低点），此处概率更偏向失败。 上一周期为左移结构（见顶偏早）——属于看空的结构性信号
Sep 25, 2026
LASR broke down vs the marketLASR 相对市场走弱
Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $40.33.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$40.33。
Sep 11, 2026
Death cross on LASRLASR 死叉
The 50-day average crossed below the 200-day — a slow, widely-watched bearish trend signal. $40.37.50日均线下穿200日均线 — 一个滞后但广受关注的看空趋势信号。$40.37。
Sep 8, 2026
LASR daily MACD crossed upLASR 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $41.53.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$41.53。
Sep 4, 2026
LASR StochRSI turned up from oversoldLASR StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $40.06.StochRSI重回20上方 — 下行动量趋缓的最早预警。$40.06。
Aug 18, 2026
LASR StochRSI turned up from oversoldLASR StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $50.00.StochRSI重回20上方 — 下行动量趋缓的最早预警。$50.00。
Aug 10, 2026
LASR lost its 200-day averageLASR 跌破200日均线
Price closed below the 200-day moving average — the classic bear dividing line. $51.01.收盘跌破200日均线 — 经典的空头分界线。$51.01。
Aug 7, 2026
BOTTOMING → DOWNTREND筑底中 → 下跌趋势
AVOID回避
Aug 7, 2026
LASR broke down vs the marketLASR 相对市场走弱
Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $56.15.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$56.15。
Aug 7, 2026
LASR daily MACD crossed downLASR 日线MACD下穿
The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $56.15.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$56.15。
Showing the last 15 of显示最近15条，共 184 signals条信号
Company profile公司档案
Watch items — what could change the story关注项 — 可能改变故事的因素
- Receivables stretch
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | +1.2% | +1.3% |
| 1 Month近1月 | -7.7% | +0.9% |
| 3 Months近3月 | -34.3% | +6.1% |
| 6 Months近6月 | -37.3% | +22.3% |
| Year to date年初至今 | +5.1% | +13.8% |
| 1 Year近1年 | +43.8% | +18.5% |
Trading information交易信息
Volatility rank波动率分位
11th pctile
EPS (trailing)每股收益
$-0.46
Off 52-week high距52周高点
-52.5%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $223M | $270M | $242M | $210M | $199M | $261M |
| EPS每股收益 | $-0.55 | $-0.70 | $-1.23 | $-0.90 | $-1.27 | $-0.47 |
| Free cash flow自由现金流 | $-10M | $-27M | $-36M | $5M | $-10M | $12M |
| Gross margin毛利率 | 26.6% | 28.6% | 21.0% | 22.0% | 16.6% | 29.8% |
| Net margin净利率 | -9.4% | -11.0% | -22.5% | -19.9% | -30.6% | -9.0% |
| FCF margin自由现金流利润率 | -4.7% | -9.9% | -14.8% | 2.3% | -5.2% | 4.7% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$261M
Gross profit毛利润
$78M
Net income净利润
$-23M
Operating cash flow经营现金流
$21M
Total assets总资产
$315M
Shareholder equity股东权益
$227M
Shares outstanding总股本
0.05B
Returns & growth回报与增长
Return on equity股本回报率
-10.3%
Return on assets资产回报率
-7.4%
Asset growth资产增速
+16.6%
Accounting quality checks会计质量检查
- Earnings quality: accruals near the peer median盈利质量：应计利润接近同业中位
- Working capital: receivables +60% vs sales +17% — receivables outpacing sales, revenue-quality risk营运资本：应收 +60% 对销售 +17%——应收快于销售，营收质量风险
- Pricing power: gross margin +3.2pts over 6 years定价能力：毛利率 6 年上升 3.2 个百分点
- Capital discipline: share count +28.6% over 6 years (dilution)资本纪律：股本 6 年增加 28.6%（稀释）
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
41
RSI (2-day)RSI（2日）
27
vs 20-day average相对20日均线
+0.2%
vs 50-day average相对50日均线
-22.2%
vs 200-day average相对200日均线
-30.2%
Golden cross (50>200)金叉（50>200）
not in effect未生效
MACDMACD
above signal位于信号线上方
Timeframe alignment多周期共振
Daily日线
momentum up动能向上
3-day3日线
momentum down — turning up soon动能向下——接近转强
Weekly周线
momentum down动能向下
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range state波幅状态
CoiledCOILED
Days compressed已压缩天数
5
Range width percentile波幅宽度分位
2/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Jun 2026 | $-0.02 | $-0.03 | +33.3% |
| Mar 2026 | $0.01 | $-0.10 | +110.0% |
| Dec 2025 | $-0.08 | $-0.02 | -300.0% |
| Sep 2025 | $-0.11 | $-0.11 | 0.0% |
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Tracked funds holding it跟踪基金持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | Position市值 |
|---|---|---|---|---|
| Polen Capital Management | C | Adding增持 | 0.1% | $9M |
Fund positioning基金持仓概览
Tracked funds in the name持有该股的跟踪基金
1
Buying vs selling买入vs卖出
1 : 0
Quarterly trend季度趋势
{'direction': 'accumulating', 'n_quarters': 5, 'holders_first': 1, 'holders_last': 1, 'holders_delta': 0, 'value_change_pct': 1451.6, 'from_period': '2025-06-30', 'to_period': '2026-06-30', 'available_on': '2026-08-04', 'available_on_first': '2025-08-13', 'holders_series': [1, 1, 1, 1, 1]}{'direction': 'accumulating', 'n_quarters': 5, 'holders_first': 1, 'holders_last': 1, 'holders_delta': 0, 'value_change_pct': 1451.6, 'from_period': '2025-06-30', 'to_period': '2026-06-30', 'available_on': '2026-08-04', 'available_on_first': '2025-08-13', 'holders_series': [1, 1, 1, 1, 1]}
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$40.7M
Insider buyers vs sellers内部人买家vs卖家
0 : 4
Recent fund flows近期基金流向
Invesco SemiconductorsInvesco Semiconductors
trimming减持
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。