TNS
nLight is betting big on AI-enabled, high-power lasers to counter drones, missiles and future battlefield threats. A $175m stock raise will fuel smarter manufacturing and rapid scale-up as defence AI meets directed energy weapons.
Laser manufacturer nLight raises $175 million for technology that shoots down drones
Author: Mike Rogoway
Camas-based manufacturer nLight Corp. sold 4 million shares of additional stock Wednesday, raising $175 million to fund the development and production of high-power lasers that shoot down battlefield drones.
“We have been growing driven by new, strategic defense and space applications,” said Scott Keeney, nLight’s CEO. “And we have some very large programs and opportunities there but there’s also a need to invest to build out the manufacturing in order to be well positioned to ramp up as fast as needed.”
The stock offering came a day after nLight’s stock hit an all-time high, $49.98. Wednesday’s stock offering was priced well below that, at $44 a share. Public companies often price the sale of additional stock below the market price to ensure they will be able to sell all the additional shares.
The offering sent nLight shares down 12%, to $43.86. The company has a market value of about $2.2 billion.
Last week, nLight said it will double the size of a factory it operates in Colorado by leasing an additional 50,000 square feet. The company said it will use proceeds from Wednesday’s stock offering for operations, capital expenses and the potential acquisition of other technologies or businesses. Keeney said that will include additional investments in Southwest Washington and in Hilllsboro, where nLight has a factory and product design lab.
“The kind of opportunities that we’re addressing here are very, very significant opportunities that have a pressing need but also they’re very complex and it takes time to adopt new technology,” Keeney said.
Founded a quarter century ago, nLight started out making lasers that amplified signals in telecommunication lines. The company’s business has changed considerably since then, adapting as more powerful lasers enabled new applications.
The company has found its greatest success to date by focusing on the defense industry. Its advanced lasers can take out drones and nLight is now targeting missiles and artillery. Its tools are also used in manufacturing and healthcare.
Its share price climbed nearly 260% in 2025, making nLight’s stock the best-performing among publicly-traded companies in the Portland area.
Revenue last year totaled about $260 million, according to nLight’s preliminary figures, up by a third from 2024. But the company has continued to lose money amid its rapid growth, posting a $19 million loss through the first nine months of 2025.
Credits: TCA, LLC.