IPG Photonics (IPGP) is a public company. IPG Photonics is the world leader in fiber laser technology, offering solutions for applications across a wide array of industries. Headquartered in Marlborough, USA, the company has developed a robust, vertically integrated supply chain, developing key technology components in-house, thus enabling the most reliable, powerful, and efficient laser solutions. With over 30 locations across the globe, we are committed to developing innovative products that provide reliable, cost-effective solutions for our customers’ needs. Founded in 1990. It has 1,913 employees. Annual revenue is $1B. IPO 2006.

Transcript

Operator

Morning, and welcome to IPG Photonics' second quarter 2026 conference call. Today's call is being recorded and webcast. At this time, I'd like to turn the call over to Eugene Fedotoff, IPG Senior Director and Investor Relations for the introductions. Please go ahead with your conference.

Eugene Fedotoff — Senior Director of Investor Relations

Thank you, and good morning, everyone. With me today is IPG Photonics CEO, Dr. Mark Gitin, and Senior Vice President and CFO, Tim Mammen. On today's call, Mark will provide a summary of our second quarter results, as well as the overview of demand environment, and then walk you through the progress we are making on our long-term strategy. After that, he will turn it over to Tim to provide financial details. Let me remind you that statements made during this call that discuss our expectations or predictions of the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause the company's actual results to differ materially from those projected in such forward-looking statements. These risks and uncertainties are detailed in our Form 10-K for the period ended December 31st, 2025, and our reports on file with the Securities and Exchange Commission. Any forward-looking statements made on this call are the company's expectations or predictions as of today, August four, 2026 only, and the company assumes no obligation to publicly release any updates or revisions to any such statements. During this call, we will be referencing certain non-GAAP measures. For more information on how we define these non-GAAP measures and a reconciliation of such measures to the most directly comparable GAAP measures, as well as additional details on our reported