Laser Photonics Corporation Q3 FY2023 earnings call

• Operating loss for the quarter was under $1 million, with a 1.4% year-over-year increase, though year-to-date had a 9.1% decrease due to economic environment challenges. • High-power laser products have been key to revenue growth from Q2 to Q3 and expected to continue. • Robust pipeline of opportunities for fourth quarter and 2024. • MARLIN line of laser cleaning products for maritime industry in development. • Increased internal sales force for international expansion, with orders from DOD (over 35% of Q3 revenue) and service partner network. • Acquisition of ICT Investments to pursue opportunities with major aerospace companies, introducing SabreTech products. • Plans to expand product offerings, enhancing clean tech laser cleaning line.

Third quarter revenue increased by 1.2% from the same period last year to $1.2 million. The company's gross margin on Q3 revenue increased by nearly 2,800 basis points year-over-year to approximately 73% due to a mix more heavily weighted towards higher-margin CleanTech systems. High-power laser products have consistently led in revenue generation.

• Expect double-digit growth in fourth quarter revenue sequentially and year-over-year based on current orders and pipeline. • Operating expenses expected to rise further in the fourth quarter due to continued growth investments in R&D, sales and marketing, and expanding the channel.

• Specific risks and uncertainties discussed in reports filed with the SEC. • Geopolitical and economic disruptions pose challenges.

Q: [No webcast questions as indicated by operator] A: [No questions answered]