IPG Photonics Corporation (IPGP) is a global leader in the development, manufacturing, and sale of high-performance fiber lasers, amplifiers, diode lasers, and laser-based systems. The company specializes in providing innovative laser solutions primarily for materials processing, as well as for medical and advanced applications. IPGP's vertically integrated operations enable it to design and produce most of the key components used in its products, ensuring high quality and cost efficiency.
- High Power Continuous Wave (CW) Lasers - Provides powerful and efficient laser solutions primarily used in cutting and welding applications.
- Other Revenue - Includes amplifiers, service, parts, accessories, and deferred revenue, supporting the broader use and maintenance of laser systems.
- Pulsed Lasers - Offers precision laser solutions for micromachining and other specialized applications.
- Laser and Non-Laser Systems - Delivers integrated systems such as LightWELD and robotic welding solutions tailored for specific markets.
- Medium Power Continuous Wave (CW) Lasers - Supplies versatile laser solutions for various industrial applications.
- Quasi-Continuous Wave (QCW) Lasers - Provides specialized laser solutions for niche applications requiring high peak power.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Mark M. Gitin ExecutiveBoard | Chief Executive Officer | Mark M. Gitin, Ph.D. has been the CEO of IPG Photonics Corporation since June 5, 2024, and joined the Board of Directors on the same date. He previously held executive roles at MKS Instruments and Coherent, Inc. | View Report → | |
Angelo P. Lopresti Executive | General Counsel, Secretary, and Senior Vice President | Angelo P. Lopresti has served as General Counsel, Secretary, and Senior Vice President at IPGP since February 2001 and was promoted to Senior Vice President in February 2013. He previously held partner roles at Winston & Strawn LLP and Hertzog, Calamari & Gleason. | ||
Igor Samartsev Executive | Senior Vice President, Chief Scientist | Igor Samartsev, Ph.D., has served at IPGP in key leadership roles, including as Deputy General Manager of NTO IRE-Polus (2005-2011) and as Chief Technology Officer (2011-2022), and is currently the Senior Vice President, Chief Scientist since February 2022. His extensive experience has been instrumental in driving technological innovation and strategic growth at IPGP. | ||
Timothy P.V. Mammen Executive | Senior Vice President and Chief Financial Officer | Timothy P.V. Mammen is the Senior Vice President and Chief Financial Officer at IPGP, serving as CFO since July 2000 and promoted to SVP in February 2013. | ||
Trevor D. Ness Executive | Senior Vice President, Sales and Strategic Business Development | Trevor D. Ness is the Senior Vice President, Sales and Strategic Business Development at IPGP since February 18, 2022. Previously, he served as Senior Vice President, Worldwide Sales and Marketing from February 2013 to 2022 and as Vice President, Asian Operations from January 2011 to February 2013. | ||
Agnes Tang Board | Independent Director | Board Member at McClatchy Media Company | Agnes Tang has served as an Independent Director on IPG Photonics' Board of Directors since March 2022. She brings over twenty years of strategic advisory experience, having served as founding partner at Ducera Partners LLC and Managing Director at Perella Weinberg Partners. | |
Eric Meurice Board | Independent Director | Board member at Intel Corporation; Board member at Global Blue Group Holding AG; Chair of supervisory board at Nearfield Instruments B.V. | Eric Meurice has a strong background in technology leadership, including his previous role as CEO of ASML Holding NV. Currently, he serves as an Independent Director on IPGP's Board since June 2014. | |
Gregory Beecher Board | Independent Director | Trustee at Isabella Stewart Gardner Museum | Gregory Beecher has served as an Independent Director at IPG Photonics since January 2023 and is an active member of the Audit Committee and Nominating and Corporate Governance Committee (NCGC). Previously, he held critical roles as CFO at Teradyne and Audit Partner at PricewaterhouseCoopers, bringing extensive financial and governance expertise. | |
Gregory Dougherty Board | Independent Director | Director at AvicenaTech, Corp; Director at MaxLinear, Inc. | Gregory Dougherty has served as an independent director on IPG Photonics’ Board of Directors since January 2019, chairing the Compensation Committee and serving on the Audit Committee. He brings over three decades of experience in the optics and components industry. | |
Jeanmarie Desmond Board | Independent Director | Board Member at Trinseo PLC; Board Member at Sylvamo Corporation | Jeanmarie Desmond has served as an Independent Director at IPGP since 2021 and chairs the Audit Committee while also being a member of the Compensation Committee. Previously, she held high-profile financial leadership roles at DuPont de Nemours, Inc. and other companies. | |
John Peeler Board | Non-Executive Chair of the Board | Acting CEO of Jumplights Corp.; Board Member at WaveArray Antifouling Systems, LLC | John Peeler has extensive leadership experience in high-growth technology companies, serving as Non-Executive Chair of the Board at IPGP since October 29, 2021, and previously holding key positions including board membership since 2012 and Lead Independent Director from 2017 to 2021. | |
Kolleen Kennedy Board | Independent Director and Chair of the Nominating and Corporate Governance Committee | Member of the Board at ICU Medical, Inc.; Member of the Board at Wayne State University Foundation | Kolleen Kennedy has over two decades of leadership experience in healthcare, including 24 years at Varian Medical Systems, and she joined IPGP’s Board in August 2023 as an Independent Director and Chair of the Nominating and Corporate Governance Committee. | |
Natalia Pavlova Board | Board Member | Trustee of VPG Foundation; Board Trustee at Worcester Polytechnic Institute | Natalia Pavlova has served on IPG Photonics' Board of Directors since January 2021 and has previously held sales and marketing roles at the company, providing long-term strategic insights and strong economic ties. She also brings non-profit experience through her roles as Trustee of the VPG Foundation and Board Trustee at Worcester Polytechnic Institute. |
- Given the recent tariff uncertainties and your reliance on global manufacturing flexibility to mitigate their impact, can you detail how potential future tariff changes might specifically affect your margins and operating strategy?
- With Crossbow targeting small drone threats and positioned in a competitive directed energy market, can you clarify the number and profile of customers you plan to address and how you intend to maintain your competitive edge against both defense and civilian competitors?
- Your discussion on gross margins highlights challenges from under-absorption costs, tariff effects, and product mix shifts—what specific cost reduction initiatives are underway, and over what timeline do you expect these improvements to be fully reflected in your GAAP margins?
- While sequential revenue growth in segments like micromachining and Clean Laser is encouraging, how sustainable are these trends given potential market volatility and shifting customer demand in your core industrial applications?
- With significant cash reserves, a planned $100 million in CapEx, and ongoing strategic M&A activity, how do you balance these investments with returning cash to shareholders amid continuing macroeconomic uncertainty and competitive pressures?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
This competitor operates in the fiber laser and other laser markets, including solid-state lasers, direct diode lasers, high power CO2, YAG, and disc lasers. They are noted for their substantial financial, managerial, and technical resources, as well as extensive distribution and service networks. | |
Laserline GmbH | This company competes in the fiber laser market and is recognized for its involvement in the materials processing sector, which includes applications like welding and cutting. |
This competitor is active in the fiber laser market and is highlighted for its efforts to increase output powers and reduce prices to compete effectively. | |
Maxphotonics Co., Ltd. | This company is identified as a competitor in the fiber laser market, particularly in Asia, where pricing pressures and market share competition are significant. |
This competitor is involved in the fiber laser and materials processing markets, offering products that compete directly with the company's offerings. | |
This company is a competitor in the fiber laser market, focusing on increasing output powers and improving product quality to compete effectively. | |
Trumpf GmbH + Co. KG | This competitor is a significant player in the fiber laser market, known for its extensive resources and capabilities in the materials processing sector. |
Wuhan Raycus Fiber Laser Technologies Co. Ltd. | This company is a competitor in the fiber laser market, particularly noted for its activities in Asia and its efforts to export fiber lasers to non-Asian markets. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
cleanLASER | 2025 | **IPG Photonics acquired 100% of the shares of cleanLASER for $66.738 million (net of cash adjustments), and recorded significant intangible assets (including technology know-how and customer relationships) as well as $29.652 million in goodwill. The deal aimed to strengthen IPG’s global position in high-precision laser cleaning systems and expand into new markets, with an employment arrangement for earn-out milestones ** |
Recent press releases and 8-K filings for IPGP.
- IPG Photonics reported Q2 2025 revenue of $250.7 million, a 3% decrease year-over-year from $257.6 million in Q2 2024.
- Diluted earnings per share for Q2 2025 were $0.16, a 64% decrease compared to $0.45 in Q2 2024.
- The company's book-to-bill ratio was approximately one in Q2 2025.
- For Q3 2025, IPG Photonics expects revenue to be between $225 million and $255 million, and adjusted earnings per diluted share in the range of $0.05 to $0.35.
- During Q2 2025, IPG Photonics spent $30 million on share repurchases.
- IPG Photonics Corporation (IPGP) entered into a new $200 million unsecured, revolving credit facility on June 24, 2025, replacing its previous loan agreement that expired on June 30, 2025.
- The facility is scheduled to mature on June 24, 2030, and can be used for working capital, capital expenditures, and other general corporate purposes.
- Borrowings under the Credit Agreement will bear interest at a fluctuating rate based on Term SOFR or a Base Rate, plus an applicable rate that varies based on the company's Consolidated Net Leverage Ratio.
- The company is required to comply with a Consolidated Net Leverage Ratio of 3.00 to 1.00 on the last day of each fiscal quarter.