IPG PHOTONICS CORP Revenue Disclosure
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Sales by Application | |||||||||||||||||
| Materials processing | $ | 860,191 | $ | 857,336 | $ | 1,152,804 | |||||||||||
| Other applications | 143,586 | 119,798 | 134,635 | ||||||||||||||
| Total | $ | 1,003,777 | $ | 977,134 | $ | 1,287,439 | |||||||||||
| Sales by Product | |||||||||||||||||
| High Power Continuous Wave ("CW") Lasers | $ | 308,825 | $ | 332,743 | $ | 524,981 | |||||||||||
| Medium Power CW Lasers | 88,178 | 63,685 | 71,672 | ||||||||||||||
| Pulsed Lasers | 143,251 | 146,759 | 185,581 | ||||||||||||||
| Quasi-Continuous Wave ("QCW") Lasers | 51,772 | 48,016 | 48,648 | ||||||||||||||
| Laser and Non-Laser Systems | 147,243 | 139,145 | 161,177 | ||||||||||||||
Other Revenue including Other Lasers, Amplifiers, Service, Parts, Accessories | 264,508 | 246,786 | 295,380 | ||||||||||||||
| Total | $ | 1,003,777 | $ | 977,134 | $ | 1,287,439 | |||||||||||
| Sales by Geography | |||||||||||||||||
| North America | $ | 267,183 | $ | 258,888 | $ | 313,986 | |||||||||||
| Europe: | |||||||||||||||||
| Germany | 105,160 | 87,800 | 88,026 | ||||||||||||||
Other Europe | 138,543 | 197,152 | 291,336 | ||||||||||||||
Total Europe | 243,703 | 284,952 | 379,362 | ||||||||||||||
| Asia: | |||||||||||||||||
| China | 291,905 | 244,996 | 355,321 | ||||||||||||||
| Japan | 66,369 | 62,352 | 72,333 | ||||||||||||||
| Other | 121,805 | 113,232 | 142,378 | ||||||||||||||
Total Asia | 480,079 | 420,580 | 570,032 | ||||||||||||||
| Rest of World | 12,812 | 12,714 | 24,059 | ||||||||||||||
| Total | $ | 1,003,777 | $ | 977,134 | $ | 1,287,439 | |||||||||||
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Timing of Revenue Recognition | |||||||||||||||||
| Goods and services transferred at a point in time | $ | 982,584 | $ | 942,209 | $ | 1,239,551 | |||||||||||
| Goods and services transferred over time | 21,193 | 34,925 | 47,888 | ||||||||||||||
| Total | $ | 1,003,777 | $ | 977,134 | $ | 1,287,439 | |||||||||||
| December 31, | January 1, | December 31, | January 1, | ||||||||||||||||||||||||||||||||
| 2025 | 2025 | Change | 2024 | 2024 | Change | ||||||||||||||||||||||||||||||
| Contract assets | |||||||||||||||||||||||||||||||||||
| Contract assets | $ | 3,464 | $ | 4,737 | $ | (1,273) | $ | 4,737 | $ | 9,383 | $ | (4,646) | |||||||||||||||||||||||
| Contract liabilities | |||||||||||||||||||||||||||||||||||
| Contract liabilities - current | 66,209 | 56,454 | 9,755 | 56,454 | 69,219 | (12,765) | |||||||||||||||||||||||||||||
| Contract liabilities - long-term | 3,336 | 2,882 | 454 | 2,882 | 2,851 | 31 | |||||||||||||||||||||||||||||
| Remaining Performance Obligations | ||||||||||||||||||||||||||||||||||||||||||||
| 2026 | 2027 | 2028 | 2029 | 2030 | Thereafter | Total | ||||||||||||||||||||||||||||||||||||||
| Revenue expected to be recognized for extended warranty agreements | $ | 2,546 | $ | 1,703 | $ | 1,013 | $ | 491 | $ | 106 | $ | 23 | $ | 5,882 | ||||||||||||||||||||||||||||||
Revenue to be earned over time from contracts to sell large scale materials processing systems | 24,995 | 4,403 | — | — | — | — | 29,398 | |||||||||||||||||||||||||||||||||||||
| Total | $ | 27,541 | $ | 6,106 | $ | 1,013 | $ | 491 | $ | 106 | $ | 23 | $ | 35,280 | ||||||||||||||||||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 23, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 22, 2022 | |
| 2020 | Feb 22, 2021 | |
| 2019 | Feb 24, 2020 | |
| 2018 | Feb 27, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.