IPG Photonics Reports 15% Revenue Growth Driven by Semiconductor and Defense Demand
IPG Photonics (IPGP) reported third-quarter 2026 revenue of $288 million, representing a 15% increase year-over-year. The company is successfully diversifying its business model beyond traditional industrial welding into high-margin sectors including semiconductor equipment, healthcare, and defense. Notably, semiconductor laser revenue more than doubled compared to the previous year. Strategic growth is being fueled by significant design wins in the semiconductor space and the acquisition of Lumibird Medical, which expands the company's addressable market in ophthalmology and urology to over $2 billion. Additionally, the company is capitalizing on defense spending through its 'Crossbow' directed energy laser systems designed to counter drone threats.