v3.26.1

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 480,761	$ 403,790
Short-term investments	332,144	435,538
Accounts receivable, net	192,437	181,734
Inventories	319,006	313,416
Prepaid income taxes	51,203	43,196
Prepaid expenses and other current assets	57,587	45,766
Total current assets	1,433,138	1,423,440
Long-term investments	70,567	76,533
Deferred income taxes, net	120,934	123,889
Goodwill	70,913	71,735
Intangible assets, net	47,171	49,933
Property, plant and equipment, net	636,242	637,516
Other assets	42,677	41,234
Total assets	2,421,642	2,424,280
Current liabilities:
Accounts payable	54,724	39,288
Accrued expenses and other current liabilities	184,849	184,849
Income taxes payable	7,603	9,900
Total current liabilities	247,176	234,037
Other long-term liabilities and deferred income taxes	58,671	62,113
Total liabilities	305,847	296,150
Commitments and contingencies (Note 10)
IPG Photonics Corporation equity:
Common stock, $0.0001 par value, 175,000,000 shares authorized; 57,281,253 and 42,443,381 shares issued and outstanding, respectively, at March 31, 2026; 56,964,939 and 42,127,067 shares issued and outstanding, respectively, at December 31, 2025.	6	6
Treasury stock, at cost, 14,837,872 shares held at March 31, 2026 and December 31, 2025, respectively.	(1,555,629)	(1,555,629)
Additional paid-in capital	1,075,709	1,077,172
Retained earnings	2,646,548	2,644,964
Accumulated other comprehensive loss	(50,839)	(38,383)
Total stockholders' equity	2,115,795	2,128,130
Total liabilities and stockholders' equity	$ 2,421,642	$ 2,424,280

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

IPG PHOTONICS CORP 10-Q