nLight Inc
LASR
Information Technology
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
nLight Inc. designs and manufactures semiconductor and fiber lasers specifically for directed energy weapons systems, including high-energy lasers and ground-based laser designators. The company is consistently identified as a top-five competitor in the high-energy laser market alongside major defense contractors like BAE Systems. Its products are integral to next-generation defense platforms, shaping the future of warfare.
The company's business is materially tied to military contracts. Its SEC filings note that revenues and profits from fixed-price defense contracts are recognized over time, indicating these are substantial, ongoing engagements. In 2015, nLight paid $420,000 to settle civil claims that it improperly received Small Business Innovation Research Program grants and contracts from the Department of Defense and other agencies between 2004 and 2013.
Research Sources
1 organization
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.