IPG Photonics (IPGP) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 28, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-33155
Entity Registrant Name	IPG PHOTONICS CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3444218
Entity Address, Address Line One	377 Simarano Drive
Entity Address, City or Town	Marlborough
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01752
City Area Code	508
Local Phone Number	373-1100
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	IPGP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		43,248,080
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001111928

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 883,871	$ 514,674
Short-term investments	135,444	662,807
Accounts receivable, net	163,541	219,053
Inventories	320,723	453,874
Prepaid income taxes	27,115	26,038
Prepaid expenses and other current assets	39,720	38,208
Total current assets	1,570,414	1,914,654
Deferred income taxes, net	106,254	88,788
Goodwill	38,484	38,540
Intangible assets, net	22,054	26,234
Property, plant and equipment, net	589,559	602,257
Other assets	28,365	28,425
Total assets	2,355,130	2,698,898
Current liabilities:
Accounts payable	39,578	28,618
Accrued expenses and other current liabilities	150,788	181,350
Income taxes payable	3,816	4,893
Total current liabilities	194,182	214,861
Other long-term liabilities and deferred income taxes	46,336	68,652
Total liabilities	240,518	283,513
Commitments and contingencies (Note 11)
IPG Photonics Corporation equity:
Common stock, $0.0001 par value, 175,000,000 shares authorized; 56,591,081 and 43,248,080 shares issued and outstanding, respectively, at September 30, 2024; 56,317,438 and 46,320,671 shares issued and outstanding, respectively, at December 31, 2023.	6	6
Treasury stock, at cost, 13,343,001 and 9,996,767 shares held at September 30, 2024 and December 31, 2023, respectively.	(1,447,984)	(1,161,505)
Additional paid-in capital	1,025,268	994,020
Retained earnings	2,606,053	2,795,394
Accumulated other comprehensive loss	(68,731)	(212,530)
Total IPG Photonics Corporation equity	2,114,612	2,415,385
Total liabilities and equity	$ 2,355,130	$ 2,698,898

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	175,000,000	175,000,000
Common stock, shares issued (in shares)	56,591,081	56,317,438
Common stock, shares outstanding (in shares)	43,248,080	46,320,671
Treasury stock, common, shares (in shares)	13,343,001	9,996,767

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 233,143	$ 301,401	$ 742,797	$ 988,546
Cost of sales	179,054	168,499	494,986	561,015
Gross profit	54,089	132,902	247,811	427,531
Operating expenses:
Sales and marketing	22,233	22,243	67,718	63,518
Research and development	27,177	24,708	84,045	70,990
General and administrative	32,660	30,958	95,420	90,746
Net loss from divestiture and sale of assets	197,651	0	190,201	0
Impairment of long-lived assets	26,566	1,237	26,566	1,237
Restructuring charges (recoveries), net	0	(1,501)	0	(357)
Loss (gain) on foreign exchange	1,148	(449)	6,067	(1,798)
Total operating expenses	307,435	77,196	470,017	224,336
Operating (loss) income	(253,346)	55,706	(222,206)	203,195
Other income, net:
Interest income, net	11,103	11,569	38,058	28,366
Other (loss) income, net	(271)	545	248	1,161
Total other income	10,832	12,114	38,306	29,527
(Loss) income before provision for income taxes	(242,514)	67,820	(183,900)	232,722
Income tax (benefit) expense	(8,920)	12,826	5,441	55,272
Net (loss) income attributable to IPG Photonics Corporation common stockholders	$ (233,594)	$ 54,994	$ (189,341)	$ 177,450
Net (loss) income attributable to IPG Photonics Corporation per common share:
Basic (in dollars per share)	$ (5.33)	$ 1.16	$ (4.22)	$ 3.75
Diluted (in dollars per share)	$ (5.33)	$ 1.16	$ (4.22)	$ 3.73
Weighted average common shares outstanding:
Basic (in shares)	43,837,357	47,236,901	44,901,247	47,363,974
Diluted (in shares)	43,837,357	47,388,119	44,901,247	47,535,635

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (233,594)	$ 54,994	$ (189,341)	$ 177,450
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments and other	158,121	(31,538)	143,799	(46,139)
Unrealized loss on derivatives	0	0	0	(152)
Total other comprehensive income (loss)	158,121	(31,538)	143,799	(46,291)
Comprehensive (loss) income attributable to IPG Photonics Corporation	$ (75,473)	$ 23,456	$ (45,542)	$ 131,159

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net (loss) income	$ (189,341)	$ 177,450
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	46,623	52,678
Deferred income taxes	(18,763)	(4,835)
Stock-based compensation	29,378	27,392
Impairment of long-lived assets and restructuring charges (recoveries), net	26,566	(486)
Unrealized gain on foreign currency transactions	(118)	(4,322)
Net loss from divestiture and sale of assets	190,201	0
Provisions for inventory, warranty and bad debt	76,434	43,889
Amortization of premium/discount on investments	(15,676)	(17,761)
Other	2,841	4,764
Changes in assets and liabilities that provided (used) cash, net of acquisitions:
Accounts receivable	51,884	(25,026)
Inventories	29,760	(20,736)
Prepaid expenses and other assets	(4,501)	(5,504)
Accounts payable	4,272	(10,231)
Accrued expenses and other liabilities	(36,743)	(39,646)
Income and other taxes payable	(18,705)	12,298
Net cash provided by operating activities	174,112	189,924
Cash flows from investing activities:
Purchases of and deposits on property, plant and equipment	(75,358)	(85,256)
Proceeds from sales of property, plant and equipment	28,538	30,425
Purchases of short-term investments	(423,176)	(898,455)
Proceeds from short-term investments	966,214	789,844
Net cash outflow from divestiture	(25,324)	0
Other	385	446
Net cash provided by (used in) investing activities	471,279	(162,996)
Cash flows from financing activities:
Principal payments on long-term borrowings	0	(16,031)
Proceeds from issuance of common stock under employee stock option and purchase plans less payments for taxes related to net share settlement of equity awards	1,870	(432)
Purchase of treasury stock, at cost	(286,479)	(159,528)
Net cash used in financing activities	(284,609)	(175,991)
Effect of changes in exchange rates on cash and cash equivalents	8,415	(20,862)
Net increase (decrease) in cash and cash equivalents	369,197	(169,925)
Cash and cash equivalents — Beginning of period	514,674	698,209
Cash and cash equivalents — End of period	883,871	528,284
Supplemental disclosure of cash flow information:
Cash paid for interest	95	1,110
Cash paid for income taxes	38,905	55,001
Non-cash transactions:
Demonstration units transferred from inventory to other assets	4,384	3,872
Inventory transferred to machinery and equipment	1,816	2,215
Additions to property, plant and equipment included in accounts payable	3,037	1,692
Leased assets obtained in exchange for new operating lease liabilities	$ 3,077	$ 2,053

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Balance, beginning of year (in shares) at Dec. 31, 2022		48,138,257
Balance, beginning of period at Dec. 31, 2022	$ 2,385,360	$ 6	$ (938,009)	$ 951,371	$ 2,576,516	$ (204,524)
Balance, beginning of period (in shares) at Dec. 31, 2022			(7,879,415)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs and PSUs, net of shares withheld for taxes, and exercise of stock options (in shares)		201,551
Vesting of RSUs and PSUs, net of shares withheld for taxes, and exercise of stock options	(2,925)			(2,925)
Common stock issued under employee stock purchase plan (in shares)		30,403
Common stock issued under employee stock purchase plan	2,493			2,493
Purchased common stock (in shares)		(1,448,457)	(1,448,457)
Purchased common stock	(159,528)		$ (159,528)
Stock-based compensation	27,392			27,392
Net (loss) income	177,450				177,450
Foreign currency translation adjustments and other	(46,139)					(46,139)
Unrealized loss on derivatives, net of tax	(152)					(152)
Balance, end of period (in shares) at Sep. 30, 2023		46,921,754
Balance, end of period at Sep. 30, 2023	2,383,951	$ 6	$ (1,097,537)	978,331	2,753,966	(250,815)
Balance, end of period (in shares) at Sep. 30, 2023			(9,327,872)
Balance, beginning of year (in shares) at Jun. 30, 2023		47,364,320
Balance, beginning of period at Jun. 30, 2023	2,398,550	$ 6	$ (1,051,040)	969,889	2,698,972	(219,277)
Balance, beginning of period (in shares) at Jun. 30, 2023			(8,878,184)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs and PSUs, net of shares withheld for taxes, and exercise of stock options (in shares)		7,122
Vesting of RSUs and PSUs, net of shares withheld for taxes, and exercise of stock options	300			300
Purchased common stock (in shares)		(449,688)	(449,688)
Purchased common stock	(46,497)		$ (46,497)
Stock-based compensation	8,142			8,142
Net (loss) income	54,994				54,994
Foreign currency translation adjustments and other	(31,538)					(31,538)
Unrealized loss on derivatives, net of tax	0
Balance, end of period (in shares) at Sep. 30, 2023		46,921,754
Balance, end of period at Sep. 30, 2023	$ 2,383,951	$ 6	$ (1,097,537)	978,331	2,753,966	(250,815)
Balance, end of period (in shares) at Sep. 30, 2023			(9,327,872)
Balance, beginning of year (in shares) at Dec. 31, 2023	46,320,671	46,320,671
Balance, beginning of period at Dec. 31, 2023	$ 2,415,385	$ 6	$ (1,161,505)	994,020	2,795,394	(212,530)
Balance, beginning of period (in shares) at Dec. 31, 2023	(9,996,767)		(9,996,767)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs and PSUs, net of shares withheld for taxes, and exercise of stock options (in shares)		238,801
Vesting of RSUs and PSUs, net of shares withheld for taxes, and exercise of stock options	$ (629)			(629)
Common stock issued under employee stock purchase plan (in shares)		34,842
Common stock issued under employee stock purchase plan	2,499			2,499
Purchased common stock (in shares)		(3,346,234)	(3,346,234)
Purchased common stock	(286,479)		$ (286,479)
Stock-based compensation	29,378			29,378
Net (loss) income	(189,341)				(189,341)
Foreign currency translation adjustments and other	143,799					143,799
Unrealized loss on derivatives, net of tax	$ 0
Balance, end of period (in shares) at Sep. 30, 2024	43,248,080	43,248,080
Balance, end of period at Sep. 30, 2024	$ 2,114,612	$ 6	$ (1,447,984)	1,025,268	2,606,053	(68,731)
Balance, end of period (in shares) at Sep. 30, 2024	(13,343,001)		(13,343,001)
Balance, beginning of year (in shares) at Jun. 30, 2024		44,225,282
Balance, beginning of period at Jun. 30, 2024	$ 2,253,370	$ 6	$ (1,373,525)	1,014,094	2,839,647	(226,852)
Balance, beginning of period (in shares) at Jun. 30, 2024			(12,358,941)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of RSUs and PSUs, net of shares withheld for taxes, and exercise of stock options (in shares)		6,858
Vesting of RSUs and PSUs, net of shares withheld for taxes, and exercise of stock options	78			78
Purchased common stock (in shares)		(984,060)	(984,060)
Purchased common stock	(74,459)		$ (74,459)
Stock-based compensation	11,096			11,096
Net (loss) income	(233,594)				(233,594)
Foreign currency translation adjustments and other	158,121					158,121
Unrealized loss on derivatives, net of tax	$ 0
Balance, end of period (in shares) at Sep. 30, 2024	43,248,080	43,248,080
Balance, end of period at Sep. 30, 2024	$ 2,114,612	$ 6	$ (1,447,984)	$ 1,025,268	$ 2,606,053	$ (68,731)
Balance, end of period (in shares) at Sep. 30, 2024	(13,343,001)		(13,343,001)

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation — The accompanying unaudited condensed consolidated financial statements have been prepared by IPG Photonics Corporation, or "IPG", "its" or the "Company". Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The condensed consolidated financial statements include the Company's accounts and those of its subsidiaries. All intercompany balances have been eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. In the opinion of the Company's management, the financial information for the interim periods presented reflects all adjustments necessary for a fair presentation of the Company's financial position, results of operations and cash flows. The results reported in these condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. Subsequent Events — The Company has considered the impact of subsequent events through the filing date of these financial statements. There were no events through the filing date of these financial statements required to be disclosed.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Adopted Pronouncements — In November 2023, the FASB issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"), which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an annual and interim basis. Under the new guidance an entity is required to disclose the title and position of the chief operating decision maker ("CODM") and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The ASU also requires that an entity that has a single reportable segment provide all the disclosures required by this ASU and all existing segment disclosures in Topic 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted this standard during fiscal year 2024, and will start disclosing the required information in fiscal year ending December 31, 2024. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements. Pronouncements Currently Under Evaluation — In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires an entity on an annual basis to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. The guidance also requires an entity to disclose on an annual basis information about income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of this ASU. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements.

Revenue From Contracts With Cus

Revenue From Contracts With Customers	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS Sales are derived from products for different applications: fiber lasers, diode lasers, systems and accessories for materials processing; fiber lasers, diodes and amplifiers for advanced applications; and fiber lasers, systems and fibers for medical applications. The following tables represent a disaggregation of revenue from contracts with customers: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Sales by Application Materials processing $ 207,063 $ 265,226 $ 659,201 $ 892,379 Other applications 26,080 36,175 83,596 96,167 Total $ 233,143 $ 301,401 $ 742,797 $ 988,546 Sales by Product High Power Continuous Wave ("CW") Lasers $ 81,325 $ 119,512 $ 254,343 $ 419,538 Medium Power CW Lasers 15,110 20,937 47,082 57,146 Pulsed Lasers 33,470 41,420 110,825 150,569 Quasi-Continuous Wave ("QCW") Lasers 10,180 10,856 36,520 35,978 Laser and Non-Laser Systems 35,265 37,493 111,436 117,064 Other Revenue including Amplifiers, Service, Parts, Accessories and Change in Deferred Revenue 57,793 71,183 182,591 208,251 Total $ 233,143 $ 301,401 $ 742,797 $ 988,546 Sales by Geography North America $ 57,294 $ 71,349 $ 198,163 $ 225,649 Europe: Germany 25,787 23,423 66,615 72,218 Other Europe 41,485 71,946 154,704 225,231 Asia: China 61,769 84,408 189,374 284,262 Japan 14,495 15,829 41,408 54,196 Other Asia 29,470 29,741 82,091 111,457 Rest of World 2,843 4,705 10,442 15,533 Total $ 233,143 $ 301,401 $ 742,797 $ 988,546 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Timing of Revenue Recognition Goods and services transferred at a point in time $ 223,269 $ 289,477 $ 713,913 $ 952,173 Goods and services transferred over time 9,874 11,924 28,884 36,373 Total $ 233,143 $ 301,401 $ 742,797 $ 988,546 One of the Company's customers accounted for 14% of the Company's net accounts receivable as of both September 30, 2024 and December 31, 2023. The Company enters into contracts to sell lasers and spare parts, for which revenue is generally recognized upon shipment or delivery, depending on the terms of the contract. The Company also provides installation services and extended warranties. The Company frequently receives consideration from a customer prior to transferring goods to the customer under the terms of a sales contract. The Company records customer deposits related to these prepayments, which represent a contract liability. The Company also records deferred revenue related to installation services when consideration is received before the services have been performed. The standalone selling price for installation services is determined based on the estimated number of days of service technician time required for installation at standard service rates. The Company recognizes customer deposits and deferred revenue as net sales after control of the goods or services has been transferred to the customer and all revenue recognition criteria are met. The Company bills customers for extended warranties upon entering into the agreement with the customer, resulting in deferred revenue that is recognized over the period of the extended warranty contract. The Company recognizes revenue over time on contracts for the sale of large scale materials processing systems. The timing of customer payments on these contracts generally differs from the timing of revenue recognized. If revenue recognized exceeds customer payments, a contract asset is recorded and if customer payments exceed revenue recognized, a contract liability is recorded. Contract assets are included within prepaid expense and other current assets on the condensed consolidated balance sheets. Contract liabilities are included within accrued expenses and other current liabilities on the condensed consolidated balance sheets. Certain deferred revenues related to extended warranties in excess of one year from the balance sheet date are included within other long-term liabilities and deferred income taxes on the condensed consolidated balance sheets. The following table reflects the changes in the Company's contract assets and liabilities for the nine months ended September 30, 2024 and 2023: September 30, January 1, September 30, January 1, 2024 2024 Change 2023 2023 Change Contract assets Contract assets $ 10,835 $ 9,383 $ 1,452 $ 5,623 $ 8,620 $ (2,997) Contract liabilities Contract liabilities - current 52,271 69,219 (16,948) 66,961 80,068 (13,107) Contract liabilities - long-term 3,015 2,851 164 2,851 3,142 (291) During the three months ended September 30, 2024 and 2023 the Company recognized revenue of $6,366 and $7,730, respectively, that was included in contract liabilities at the beginning of each year. During the nine months ended September 30, 2024 and 2023 the Company recognized revenue of $49,582 and $51,173 respectively, that was included in contract liabilities at the beginning of each year. The following table represents the Company's remaining performance obligations from contracts that are recognized over time as of September 30, 2024: Remaining Performance Obligations 2024 (a) 2025 2026 2027 2028 Thereafter Total Revenue expected to be recognized for extended warranty agreements $ 1,003 $ 2,184 $ 1,166 $ 866 $ 316 $ 145 $ 5,680 Revenue to be earned over time from contracts to sell large scale materials processing systems 6,538 8,168 1,586 — — — 16,292 Total $ 7,541 $ 10,352 $ 2,752 $ 866 $ 316 $ 145 $ 21,972 (a) For the three-month period beginning October 1, 2024.

Loss on Divestiture and Impairm

Loss on Divestiture and Impairment of Long-lived Assets	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
LOSS ON DIVESTITURE AND IMPAIRMENT OF LONG-LIVED ASSETS	LOSS ON DIVESTITURE AND IMPAIRMENT OF LONG-LIVED ASSETS The Company recorded a loss on divestiture of $197,651 for the quarter ended September 30, 2024, which was included in Net loss from divestiture and sale of assets in the Company's Condensed Consolidated Statements of Income. As a result of the Russia-Ukraine conflict and related sanctions, the Company's ability to ship and receive components from its Russian operations was significantly curtailed. On August 29, 2024, the Company completed the sale of its Russian subsidiary, Scientific and Technical Association “IRE-Polus”, pursuant to a share purchase agreement with a purchaser entity associated with Softline Projects LLC and existing management of IRE-Polus for $51,096. The loss mainly consisted of $59,293 related to the carrying value of net assets of the Russian subsidiary that was in excess of net proceeds received on the sale and $135,346 related to the cumulative translation adjustment component of other comprehensive income that was previously included in stockholders' equity of the Company's Condensed Consolidated Balance Sheets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company's financial instruments consist of cash equivalents, short-term investments, accounts receivable, accounts payable, and revolving lines of credit. The valuation techniques used to measure fair value are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company classifies its financial instruments according to the prescribed criteria. The fair value of money market fund deposits, cash equivalent term deposits, accounts receivable, accounts payable and drawings on revolving lines of credit is reasonably close to their carrying amounts due to the short maturity of most of these instruments or as a result of the competitive market interest rates, which have been negotiated. The fair value of the Company's commercial paper, corporate bonds, U.S. Treasury and agency obligations and term deposits are based on Level 2 inputs. The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the condensed consolidated balance sheets: Fair Value Measurements at September 30, 2024 Total Level 1 Level 2 Level 3 Assets Cash equivalents: Money market fund deposits $ 185,862 $ 185,862 $ — $ — Commercial paper 156,412 — 156,412 — U.S. Treasury and agency obligations 88,610 — 88,610 — Term deposits 22,145 — 22,145 — Corporate bonds 13,416 — 13,416 — Total cash equivalents 466,445 185,862 280,583 — Short-term investments: Commercial paper 75,523 — 75,523 — U.S. Treasury and agency obligations 56,887 — 56,887 — Term deposits 3,048 — 3,048 — Total short-term investments 135,458 — 135,458 — Total $ 601,903 $ 185,862 $ 416,041 $ — Fair Value Measurements at December 31, 2023 Total Level 1 Level 2 Level 3 Assets Cash equivalents: Money market fund deposits $ 171,632 $ 171,632 $ — $ — Term deposits 83,965 — 83,965 — Corporate bonds 23,516 — 23,516 — Commercial paper 6,369 — 6,369 — Total cash equivalents 285,482 171,632 113,850 — Short-term investments: Commercial paper 244,571 — 244,571 — Corporate bonds 243,915 — 243,915 — U.S. Treasury and agency obligations 171,316 — 171,316 — Term deposits 3,009 — 3,009 — Total short-term investments 662,811 — 662,811 — Total $ 948,293 $ 171,632 $ 776,661 $ — There were no impairments for the investments considered held-to-maturity during the quarters ended September 30, 2024 and 2023. There were no current expected credit loss allowances for the investments considered held-to-maturity at September 30, 2024 and 2023. The Company holds highly-rated held-to-maturity instruments that are within one year of maturity. The Company did not have any allowance for credit losses other than the allowance for uncollectible accounts receivable. As of September 30, 2024 and 2023, the allowance for credit losses on the trade receivables was $2,329 and $1,587, respectively. The following table presents the effective maturity dates of debt investments, which are held-to-maturity: September 30, 2024 December 31, 2023 Book Value Fair Value Book Value Fair Value Investment maturity Less than 1 year $ 135,444 $ 135,458 $ 662,807 $ 662,811

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following: September 30, December 31, 2024 2023 Components and raw materials $ 170,905 $ 263,652 Work-in-process 30,013 47,997 Finished goods 119,805 142,225 Total $ 320,723 $ 453,874 The Company recorded inventory provisions totaling $43,408 and $9,119 for the three months ended September 30, 2024 and 2023, respectively, and $70,259 and $32,434 f or the nine months ended September 30, 2024 and 2023. These provisions relate to the recoverability of the value of inventories due to technological changes and excess quantities. For the three and nine months ended September 30, 2024, the Company recorded additional inventory provisions of $29,487 attributed to items previously considered safety stock and items that became technologically obsolete. These provisions are reported as a reduction to components and raw materials, work-in-process and finished goods.

Goodwill and Intangibles

Goodwill and Intangibles	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLES	GOODWILL AND INTANGIBLES The following table sets forth the changes in the carrying amount of goodwill: Nine Months Ended September 30, 2024 Balance, beginning of period $ 38,540 Foreign exchange adjustment (56) Balance, end of period $ 38,484 Intangible assets, subject to amortization, consisted of the following: September 30, 2024 December 31, 2023 Gross Carrying Amount Accumulated Net Weighted- Average Lives Gross Carrying Amount Accumulated Net Weighted- Customer relationships $ 48,219 $ (28,787) $ 19,432 11 years $ 48,216 $ (25,973) $ 22,243 11 years Technology, trademark and trade name 26,990 (24,368) 2,622 7 years 29,903 (25,960) 3,943 7 years Production know-how 9,172 (9,172) — 7 years 9,155 (9,155) — 7 years Patents 8,034 (8,034) — 8 years 8,035 (7,987) 48 8 years Total $ 92,415 $ (70,361) $ 22,054 $ 95,309 $ (69,075) $ 26,234 Amortization expense for the three months ended September 30, 2024 and 2023 was $1,377 and $2,020, respectively. Amortization expense for the nine months ended September 30, 2024 and 2023 was $4,180 and $6,062, respectively. The estimated future amortization expense for intangibles for the remainder of 2024 and subsequent years is as follows: 2024 (a) 2025 2026 2027 2028 Thereafter Total $ 1,374 $ 4,979 $ 4,218 $ 4,006 $ 3,635 $ 3,842 $ 22,054 (a) For the three-month period beginning October 1, 2024.

Other Liabilities

Other Liabilities	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
OTHER LIABILITIES	OTHER LIABILITIES Accrued expenses and other current liabilities consist of the following: September 30, December 31, 2024 2023 Accrued compensation $ 55,814 $ 67,053 Contract liabilities 52,271 69,219 Current portion of accrued warranty 23,261 27,283 Short-term lease liabilities 4,436 4,597 Other 15,006 13,198 Total $ 150,788 $ 181,350 Other long-term liabilities and deferred income taxes consist of the following: September 30, December 31, 2024 2023 Accrued warranty $ 14,164 $ 19,926 Unrecognized tax benefits 14,389 17,176 Long-term lease liabilities 12,026 13,664 Deferred income taxes 4 1,508 Transition tax related to 2017 U.S. tax reform act — 11,009 Other 5,753 5,369 Total $ 46,336 $ 68,652

Product Warranties

Product Warranties	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
PRODUCT WARRANTIES	PRODUCT WARRANTIES The Company typically provides one Activity related to the warranty accrual was as follows: Nine Months Ended September 30, 2024 2023 Balance, beginning of period $ 47,209 $ 52,862 Provision for warranty accrual 4,603 9,874 Warranty claims (12,902) (13,792) Warranty related to business divested (1,603) — Foreign currency translation 118 (850) Balance, end of period $ 37,425 $ 48,094 Accrued warranty reported in the accompanying condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 consist of $23,261 and $27,283 in accrued expenses and other current liabilities, respectively, and $14,164 and $19,926 in other long-term liabilities and deferred income taxes, respectively.

Financing Arrangements

Financing Arrangements	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS Revolving Line of Credit Facilities: The Company maintains a $75,000 U.S. revolving line of credit, which is available to certain foreign subsidiaries and allows for borrowings in the local currencies of those subsidiaries. At September 30, 2024 and December 31, 2023, there were no amounts drawn on the U.S. line-of-credit, and there were $1,888 and $2,487, respectively, of guarantees issued against the facility, which reduce the amount of the facility available to draw. After providing for the guarantees used, the remaining availability under this line was $73,112 at September 30, 2024. In addition, the Company maintains Euro lines of credit facilities with a total principal amount of €6,500 ($7,254 and $7,173 as of September 30, 2024 and December 31, 2023, respectively), which are available to certain European subsidiaries. At September 30, 2024 and December 31, 2023, there were no amounts drawn on the Euro lines of credit, and there were $1,611 and $1,180, respectively, of guarantees issued against the facility, which reduce the amount of the facility available to draw.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES From time to time, the Company may be involved in legal disputes and other proceedings in the ordinary course of its business. These matters may include allegations of infringement of intellectual property, commercial disputes and employment matters. As of September 30, 2024 and through the filing date of these condensed consolidated financial statements, the Company is aware of no ongoing legal proceedings that management estimates could have a material effect on the Company's condensed consolidated financial statements. The Company provides product warranties on its lasers, laser and non-laser systems, and amplifiers. Refer to Note 9, " Product Warranties" for information related to the Company's warranty accrual.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Comprehensive income includes charges and credits to equity that are not the result of transactions with stockholders. Included within comprehensive income is the cumulative foreign currency translation adjustments. These adjustments are accumulated within the condensed consolidated statements of comprehensive income. Total components of accumulated other comprehensive loss were as follows: Foreign currency translation adjustments and other Unrealized gain (loss) on derivatives, net of tax Total Balance, July 1, 2024 $ (226,852) $ — $ (226,852) Other comprehensive income, net of tax: Foreign currency translation adjustments and other before reclassification, net of tax expense of $237 21,451 — 21,451 Reclassification of foreign currency translation adjustments related to the divestiture of Russian operations to net loss, net of tax expense of $1,324 136,670 — 136,670 Total other comprehensive income 158,121 — 158,121 Balance, September 30, 2024 $ (68,731) $ — $ (68,731) Balance, July 1, 2023 $ (219,277) $ — $ (219,277) Other comprehensive loss, net of tax: Foreign currency translation adjustments and other, net of tax benefit of $94 (31,538) — (31,538) Total other comprehensive loss (31,538) — (31,538) Balance, September 30, 2023 $ (250,815) $ — $ (250,815) Foreign currency translation adjustments and other Unrealized gain (loss) on derivatives, net of tax Total Balance, January 1, 2024 $ (212,530) $ — $ (212,530) Other comprehensive income, net of tax: Foreign currency translation adjustments and other before reclassification, net of tax expense of $112 7,129 — 7,129 Reclassification of foreign currency translation adjustments related to the divestiture of Russian operations to net loss, net of tax expense of $1,324 136,670 — 136,670 Total other comprehensive income 143,799 — 143,799 Balance, September 30, 2024 $ (68,731) $ — $ (68,731) Balance, January 1, 2023 $ (204,676) $ 152 $ (204,524) Other comprehensive loss, net of tax: Foreign currency translation adjustments and other, net of tax expense of $10 (46,139) — (46,139) Unrealized loss on derivatives, net of tax benefit of $46 — (152) (152) Total other comprehensive loss (46,139) (152) (46,291) Balance, September 30, 2023 $ (250,815) $ — $ (250,815)

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for income taxes was a benefit of $8,920 and a tax expense of $5,441, f or the three and nine months ended September 30, 2024 , respectively. The effective tax rate was 3.7% for the three months ended September 30, 2024 . For the nine months ended September 30, 2024 , there was tax expense provided on the Loss before provision for income taxes. This compares to the three and nine months ended September 30, 2023 , where the provisions for income taxes were tax expenses of $12,826 and $55,272 , respectively. The effective tax rates for the three and nine months ended September 30, 2023 , were a tax expense of 18.9% and 23.8%, respectively. There was a tax detriment for both periods in 2024 related primarily to $41,482 of losses not benefitted from the loss on divestiture of Russian operations, which occurred in the three months ended September 30, 2024. Excluding the divestiture of Russian operations, t he other discrete tax items for the three months ended September 30, 2024 did not have a significant effect on the Company's tax rate. Excluding the divestiture of Russian operations, the other discrete tax detriment of $1,435 for the nine months ended September 30, 2024, related primarily to equity-based compensation which was partially offset by a benefit related to reductions of tax reserves. There were net discrete tax detriments of $169 and $390 for the three and nine months ended September 30, 2023, respectively. The discrete detriments in 2023 did not have a significant effect on the Company's tax rate. Excluding discrete items, the overall effective tax rate in 2024 decreased as compared to 2023 due the decrease of income before provision for income taxes in 2024 as compared to 2023. The Company accounts for its uncertain tax positions in accordance with the accounting standards for income taxes. The Company classifies interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. The following is a summary of the activity of the Company’s unrecognized tax benefits for the nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, 2024 2023 Balance, beginning of period $ 17,176 $ 15,841 Change in prior period positions (3,130) (1,274) Additions for tax positions in current period 249 3,738 Foreign currency translation 94 (527) Balance, end of period $ 14,389 $ 17,778

Net Income Attributable to IPG

Net Income Attributable to IPG Photonics Corporation Per Common Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER COMMON SHARE	NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER COMMON SHARE The following table sets forth the computation of diluted net income attributable to IPG Photonics Corporation per common share following the treasury stock method: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net (loss) income attributable to IPG Photonics Corporation common stockholders $ (233,594) $ 54,994 $ (189,341) $ 177,450 Basic weighted average common shares 43,837,357 47,236,901 44,901,247 47,363,974 Dilutive effect of common stock equivalents — 151,218 — 171,661 Diluted weighted average common shares 43,837,357 47,388,119 44,901,247 47,535,635 Basic net (loss) income attributable to IPG Photonics Corporation per common share $ (5.33) $ 1.16 $ (4.22) $ 3.75 Diluted net (loss) income attributable to IPG Photonics Corporation per common share $ (5.33) $ 1.16 $ (4.22) $ 3.73 The computation of diluted weighted average common shares excludes common stock equivalents including non-qualified stock options, performance stock units ("PSUs"), restricted stock units ("RSUs") and employee stock purchase plan ("ESPP") because the effect of including them would be anti-dilutive. The weighted average anti-dilutive shares outstanding for the three and nine months ended September 30, 2024 and 2023 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Non-qualified stock options 672,225 529,228 603,058 537,065 Restricted stock units 202,368 55,201 232,622 376,382 Performance stock units 87,662 — 58,872 53,470 Employee stock purchase plan 10,494 — 41,977 — Total weighed average anti-dilutive shares outstanding 972,749 584,429 936,529 966,917 On February 13, 2024, the Company announced that its Board of Directors has authorized the purchase of up to $300,000 of IPG common stock. This authorization is in addition to the Company's stock repurchase programs authorized in May 2023. For the three months ended September 30, 2024, the Company repurchased 984,060 shares under the February 2024 authorization with a weighted average price of $74.90 per share in the open market. For the nine months ended September 30, 2024, the Company repurchased 3,346,234 shares under the May 2023 authorization and February 2024 authorization with a weighted average price of $84.79 per share in the open market. The impact on the reduction of weighted average shares for the three and nine months ended September 30, 2024 was 391,942 shares and 1,607,958 shares, respectively. As of September 30, 2024, the Company had $106,781 remaining under the February 2024 authorization.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (233,594)	$ 54,994	$ (189,341)	$ 177,450

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation — The accompanying unaudited condensed consolidated financial statements have been prepared by IPG Photonics Corporation, or "IPG", "its" or the "Company". Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The condensed consolidated financial statements include the Company's accounts and those of its subsidiaries. All intercompany balances have been eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2023.
Adopted Pronouncements And Other Pronouncements Currently Under Evaluation	Adopted Pronouncements — In November 2023, the FASB issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"), which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an annual and interim basis. Under the new guidance an entity is required to disclose the title and position of the chief operating decision maker ("CODM") and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The ASU also requires that an entity that has a single reportable segment provide all the disclosures required by this ASU and all existing segment disclosures in Topic 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted this standard during fiscal year 2024, and will start disclosing the required information in fiscal year ending December 31, 2024. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements. Pronouncements Currently Under Evaluation — In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires an entity on an annual basis to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. The guidance also requires an entity to disclose on an annual basis information about income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of this ASU. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements.

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables represent a disaggregation of revenue from contracts with customers: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Sales by Application Materials processing $ 207,063 $ 265,226 $ 659,201 $ 892,379 Other applications 26,080 36,175 83,596 96,167 Total $ 233,143 $ 301,401 $ 742,797 $ 988,546 Sales by Product High Power Continuous Wave ("CW") Lasers $ 81,325 $ 119,512 $ 254,343 $ 419,538 Medium Power CW Lasers 15,110 20,937 47,082 57,146 Pulsed Lasers 33,470 41,420 110,825 150,569 Quasi-Continuous Wave ("QCW") Lasers 10,180 10,856 36,520 35,978 Laser and Non-Laser Systems 35,265 37,493 111,436 117,064 Other Revenue including Amplifiers, Service, Parts, Accessories and Change in Deferred Revenue 57,793 71,183 182,591 208,251 Total $ 233,143 $ 301,401 $ 742,797 $ 988,546 Sales by Geography North America $ 57,294 $ 71,349 $ 198,163 $ 225,649 Europe: Germany 25,787 23,423 66,615 72,218 Other Europe 41,485 71,946 154,704 225,231 Asia: China 61,769 84,408 189,374 284,262 Japan 14,495 15,829 41,408 54,196 Other Asia 29,470 29,741 82,091 111,457 Rest of World 2,843 4,705 10,442 15,533 Total $ 233,143 $ 301,401 $ 742,797 $ 988,546 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Timing of Revenue Recognition Goods and services transferred at a point in time $ 223,269 $ 289,477 $ 713,913 $ 952,173 Goods and services transferred over time 9,874 11,924 28,884 36,373 Total $ 233,143 $ 301,401 $ 742,797 $ 988,546
Changes in Contract Assets and Liabilities	The following table reflects the changes in the Company's contract assets and liabilities for the nine months ended September 30, 2024 and 2023: September 30, January 1, September 30, January 1, 2024 2024 Change 2023 2023 Change Contract assets Contract assets $ 10,835 $ 9,383 $ 1,452 $ 5,623 $ 8,620 $ (2,997) Contract liabilities Contract liabilities - current 52,271 69,219 (16,948) 66,961 80,068 (13,107) Contract liabilities - long-term 3,015 2,851 164 2,851 3,142 (291)
Schedule of Remaining Performance Obligations	The following table represents the Company's remaining performance obligations from contracts that are recognized over time as of September 30, 2024: Remaining Performance Obligations 2024 (a) 2025 2026 2027 2028 Thereafter Total Revenue expected to be recognized for extended warranty agreements $ 1,003 $ 2,184 $ 1,166 $ 866 $ 316 $ 145 $ 5,680 Revenue to be earned over time from contracts to sell large scale materials processing systems 6,538 8,168 1,586 — — — 16,292 Total $ 7,541 $ 10,352 $ 2,752 $ 866 $ 316 $ 145 $ 21,972 (a) For the three-month period beginning October 1, 2024.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the condensed consolidated balance sheets: Fair Value Measurements at September 30, 2024 Total Level 1 Level 2 Level 3 Assets Cash equivalents: Money market fund deposits $ 185,862 $ 185,862 $ — $ — Commercial paper 156,412 — 156,412 — U.S. Treasury and agency obligations 88,610 — 88,610 — Term deposits 22,145 — 22,145 — Corporate bonds 13,416 — 13,416 — Total cash equivalents 466,445 185,862 280,583 — Short-term investments: Commercial paper 75,523 — 75,523 — U.S. Treasury and agency obligations 56,887 — 56,887 — Term deposits 3,048 — 3,048 — Total short-term investments 135,458 — 135,458 — Total $ 601,903 $ 185,862 $ 416,041 $ — Fair Value Measurements at December 31, 2023 Total Level 1 Level 2 Level 3 Assets Cash equivalents: Money market fund deposits $ 171,632 $ 171,632 $ — $ — Term deposits 83,965 — 83,965 — Corporate bonds 23,516 — 23,516 — Commercial paper 6,369 — 6,369 — Total cash equivalents 285,482 171,632 113,850 — Short-term investments: Commercial paper 244,571 — 244,571 — Corporate bonds 243,915 — 243,915 — U.S. Treasury and agency obligations 171,316 — 171,316 — Term deposits 3,009 — 3,009 — Total short-term investments 662,811 — 662,811 — Total $ 948,293 $ 171,632 $ 776,661 $ —
Schedule of Effective Maturity Dates of Held to Maturity Investments	The following table presents the effective maturity dates of debt investments, which are held-to-maturity: September 30, 2024 December 31, 2023 Book Value Fair Value Book Value Fair Value Investment maturity Less than 1 year $ 135,444 $ 135,458 $ 662,807 $ 662,811

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following: September 30, December 31, 2024 2023 Components and raw materials $ 170,905 $ 263,652 Work-in-process 30,013 47,997 Finished goods 119,805 142,225 Total $ 320,723 $ 453,874

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table sets forth the changes in the carrying amount of goodwill: Nine Months Ended September 30, 2024 Balance, beginning of period $ 38,540 Foreign exchange adjustment (56) Balance, end of period $ 38,484
Schedule of Intangible Assets	Intangible assets, subject to amortization, consisted of the following: September 30, 2024 December 31, 2023 Gross Carrying Amount Accumulated Net Weighted- Average Lives Gross Carrying Amount Accumulated Net Weighted- Customer relationships $ 48,219 $ (28,787) $ 19,432 11 years $ 48,216 $ (25,973) $ 22,243 11 years Technology, trademark and trade name 26,990 (24,368) 2,622 7 years 29,903 (25,960) 3,943 7 years Production know-how 9,172 (9,172) — 7 years 9,155 (9,155) — 7 years Patents 8,034 (8,034) — 8 years 8,035 (7,987) 48 8 years Total $ 92,415 $ (70,361) $ 22,054 $ 95,309 $ (69,075) $ 26,234
Estimated Future Amortization Expense for Intangibles	The estimated future amortization expense for intangibles for the remainder of 2024 and subsequent years is as follows: 2024 (a) 2025 2026 2027 2028 Thereafter Total $ 1,374 $ 4,979 $ 4,218 $ 4,006 $ 3,635 $ 3,842 $ 22,054 (a) For the three-month period beginning October 1, 2024.

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Components of Accrued Expenses and Other Liabilities	Accrued expenses and other current liabilities consist of the following: September 30, December 31, 2024 2023 Accrued compensation $ 55,814 $ 67,053 Contract liabilities 52,271 69,219 Current portion of accrued warranty 23,261 27,283 Short-term lease liabilities 4,436 4,597 Other 15,006 13,198 Total $ 150,788 $ 181,350
Other Noncurrent Liabilities	Other long-term liabilities and deferred income taxes consist of the following: September 30, December 31, 2024 2023 Accrued warranty $ 14,164 $ 19,926 Unrecognized tax benefits 14,389 17,176 Long-term lease liabilities 12,026 13,664 Deferred income taxes 4 1,508 Transition tax related to 2017 U.S. tax reform act — 11,009 Other 5,753 5,369 Total $ 46,336 $ 68,652

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Summary of Product Warranty Activity	Activity related to the warranty accrual was as follows: Nine Months Ended September 30, 2024 2023 Balance, beginning of period $ 47,209 $ 52,862 Provision for warranty accrual 4,603 9,874 Warranty claims (12,902) (13,792) Warranty related to business divested (1,603) — Foreign currency translation 118 (850) Balance, end of period $ 37,425 $ 48,094

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Total components of accumulated other comprehensive loss were as follows: Foreign currency translation adjustments and other Unrealized gain (loss) on derivatives, net of tax Total Balance, July 1, 2024 $ (226,852) $ — $ (226,852) Other comprehensive income, net of tax: Foreign currency translation adjustments and other before reclassification, net of tax expense of $237 21,451 — 21,451 Reclassification of foreign currency translation adjustments related to the divestiture of Russian operations to net loss, net of tax expense of $1,324 136,670 — 136,670 Total other comprehensive income 158,121 — 158,121 Balance, September 30, 2024 $ (68,731) $ — $ (68,731) Balance, July 1, 2023 $ (219,277) $ — $ (219,277) Other comprehensive loss, net of tax: Foreign currency translation adjustments and other, net of tax benefit of $94 (31,538) — (31,538) Total other comprehensive loss (31,538) — (31,538) Balance, September 30, 2023 $ (250,815) $ — $ (250,815) Foreign currency translation adjustments and other Unrealized gain (loss) on derivatives, net of tax Total Balance, January 1, 2024 $ (212,530) $ — $ (212,530) Other comprehensive income, net of tax: Foreign currency translation adjustments and other before reclassification, net of tax expense of $112 7,129 — 7,129 Reclassification of foreign currency translation adjustments related to the divestiture of Russian operations to net loss, net of tax expense of $1,324 136,670 — 136,670 Total other comprehensive income 143,799 — 143,799 Balance, September 30, 2024 $ (68,731) $ — $ (68,731) Balance, January 1, 2023 $ (204,676) $ 152 $ (204,524) Other comprehensive loss, net of tax: Foreign currency translation adjustments and other, net of tax expense of $10 (46,139) — (46,139) Unrealized loss on derivatives, net of tax benefit of $46 — (152) (152) Total other comprehensive loss (46,139) (152) (46,291) Balance, September 30, 2023 $ (250,815) $ — $ (250,815)

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Unrecognized Tax Benefits	The following is a summary of the activity of the Company’s unrecognized tax benefits for the nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, 2024 2023 Balance, beginning of period $ 17,176 $ 15,841 Change in prior period positions (3,130) (1,274) Additions for tax positions in current period 249 3,738 Foreign currency translation 94 (527) Balance, end of period $ 14,389 $ 17,778

Net Income Attributable to IP_2

Net Income Attributable to IPG Photonics Corporation Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Diluted Net Income Per Share	The following table sets forth the computation of diluted net income attributable to IPG Photonics Corporation per common share following the treasury stock method: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net (loss) income attributable to IPG Photonics Corporation common stockholders $ (233,594) $ 54,994 $ (189,341) $ 177,450 Basic weighted average common shares 43,837,357 47,236,901 44,901,247 47,363,974 Dilutive effect of common stock equivalents — 151,218 — 171,661 Diluted weighted average common shares 43,837,357 47,388,119 44,901,247 47,535,635 Basic net (loss) income attributable to IPG Photonics Corporation per common share $ (5.33) $ 1.16 $ (4.22) $ 3.75 Diluted net (loss) income attributable to IPG Photonics Corporation per common share $ (5.33) $ 1.16 $ (4.22) $ 3.73
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The weighted average anti-dilutive shares outstanding for the three and nine months ended September 30, 2024 and 2023 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Non-qualified stock options 672,225 529,228 603,058 537,065 Restricted stock units 202,368 55,201 232,622 376,382 Performance stock units 87,662 — 58,872 53,470 Employee stock purchase plan 10,494 — 41,977 — Total weighed average anti-dilutive shares outstanding 972,749 584,429 936,529 966,917

Revenue From Contracts With C_3

Revenue From Contracts With Customers (Disaggregation of Revenue, By Application) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Sales by Application
Total	$ 233,143	$ 301,401	$ 742,797	$ 988,546
Materials processing
Sales by Application
Total	207,063	265,226	659,201	892,379
Other applications
Sales by Application
Total	$ 26,080	$ 36,175	$ 83,596	$ 96,167

Revenue From Contracts With C_4

Revenue From Contracts With Customers (Disaggregation of Revenue, By Product) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total	$ 233,143	$ 301,401	$ 742,797	$ 988,546
High Power Continuous Wave ("CW") Lasers
Disaggregation of Revenue [Line Items]
Total	81,325	119,512	254,343	419,538
Medium Power CW Lasers
Disaggregation of Revenue [Line Items]
Total	15,110	20,937	47,082	57,146
Pulsed Lasers
Disaggregation of Revenue [Line Items]
Total	33,470	41,420	110,825	150,569
Quasi-Continuous Wave ("QCW") Lasers
Disaggregation of Revenue [Line Items]
Total	10,180	10,856	36,520	35,978
Laser and Non-Laser Systems
Disaggregation of Revenue [Line Items]
Total	35,265	37,493	111,436	117,064
Other Revenue including Amplifiers, Service, Parts, Accessories and Change in Deferred Revenue
Disaggregation of Revenue [Line Items]
Total	$ 57,793	$ 71,183	$ 182,591	$ 208,251

Revenue From Contracts With C_5

Revenue From Contracts With Customers (Disaggregation of Revenue, By Geography) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Sales by Geography
Total	$ 233,143	$ 301,401	$ 742,797	$ 988,546
North America
Sales by Geography
Total	57,294	71,349	198,163	225,649
Germany
Sales by Geography
Total	25,787	23,423	66,615	72,218
Other Europe
Sales by Geography
Total	41,485	71,946	154,704	225,231
China
Sales by Geography
Total	61,769	84,408	189,374	284,262
Japan
Sales by Geography
Total	14,495	15,829	41,408	54,196
Other Asia
Sales by Geography
Total	29,470	29,741	82,091	111,457
Rest of World
Sales by Geography
Total	$ 2,843	$ 4,705	$ 10,442	$ 15,533

Revenue From Contracts With C_6

Revenue From Contracts With Customers (Disaggregation of Revenue, By Timing) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Timing of Revenue Recognition
Total	$ 233,143	$ 301,401	$ 742,797	$ 988,546
Goods and services transferred at a point in time
Timing of Revenue Recognition
Total	223,269	289,477	713,913	952,173
Goods and services transferred over time
Timing of Revenue Recognition
Total	$ 9,874	$ 11,924	$ 28,884	$ 36,373

Revenue From Contracts With C_7

Revenue From Contracts With Customers (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Concentration Risk [Line Items]
Revenue recognized that was included in the contract liability balance at the beginning of the period	$ 6,366	$ 7,730	$ 49,582	$ 51,173
One Customer | Customer Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage			14%		14%

Revenue From Contracts With C_8

Revenue From Contracts With Customers (Changes in Contract Assets and Contract Liabilities) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Contract assets
Contract assets	$ 10,835	$ 5,623	$ 9,383	$ 8,620
Contract assets, change	1,452	(2,997)
Contract liabilities
Contract liabilities - current	52,271	66,961	69,219	80,068
Contract liabilities - current, change	(16,948)	(13,107)
Contract liabilities - long-term	3,015	2,851	$ 2,851	$ 3,142
Contract liabilities - long-term, change	$ 164	$ (291)

Revenue From Contracts With C_9

Revenue From Contracts With Customers (Schedule of Remaining Performance Obligations) (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 21,972
Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	5,680
Revenue to be earned over time from contracts to sell large scale materials processing systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	16,292
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 7,541
Remaining performance obligations, expected timing	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 1,003
Remaining performance obligations, expected timing	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | Revenue to be earned over time from contracts to sell large scale materials processing systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 6,538
Remaining performance obligations, expected timing	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 10,352
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 2,184
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Revenue to be earned over time from contracts to sell large scale materials processing systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 8,168
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 2,752
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 1,166
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Revenue to be earned over time from contracts to sell large scale materials processing systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 1,586
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 866
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 866
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Revenue to be earned over time from contracts to sell large scale materials processing systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 316
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 316
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | Revenue to be earned over time from contracts to sell large scale materials processing systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 145
Remaining performance obligations, expected timing
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 145
Remaining performance obligations, expected timing
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 | Revenue to be earned over time from contracts to sell large scale materials processing systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0
Remaining performance obligations, expected timing

Loss on Divestiture and Impai_2

Loss on Divestiture and Impairment of Long-lived Assets (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Aug. 29, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net loss from divestiture and sale of assets		$ (197,651)	$ 0	$ (190,201)	$ 0
Foreign currency translation adjustments and other		158,121	$ (31,538)	143,799	$ (46,139)
BELARUS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets and restructuring charges (recoveries), net		26,566		26,566
Disposal Group, Disposed of by Sale, Not Discontinued Operations | RUSSIA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture	$ 51,096
Disposal group, not discontinued operation, assets		59,293		$ 59,293
Foreign currency translation adjustments and other		$ 135,346

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash equivalents:	$ 466,445	$ 285,482
Short-term investments:	135,458	662,811
Total	601,903	948,293
Commercial paper
Assets
Short-term investments:	75,523	244,571
U.S. Treasury and agency obligations
Assets
Short-term investments:	56,887	171,316
Term deposits
Assets
Short-term investments:	3,048	3,009
Corporate bonds
Assets
Short-term investments:		243,915
Money market fund deposits
Assets
Cash equivalents:	185,862	171,632
Commercial paper
Assets
Cash equivalents:	156,412	6,369
U.S. Treasury and agency obligations
Assets
Cash equivalents:	88,610
Term deposits
Assets
Cash equivalents:	22,145	83,965
Corporate bonds
Assets
Cash equivalents:	13,416	23,516
Level 1
Assets
Cash equivalents:	185,862	171,632
Short-term investments:	0	0
Total	185,862	171,632
Level 1 | Commercial paper
Assets
Short-term investments:	0	0
Level 1 | U.S. Treasury and agency obligations
Assets
Short-term investments:	0	0
Level 1 | Term deposits
Assets
Short-term investments:	0	0
Level 1 | Corporate bonds
Assets
Short-term investments:		0
Level 1 | Money market fund deposits
Assets
Cash equivalents:	185,862	171,632
Level 1 | Commercial paper
Assets
Cash equivalents:	0	0
Level 1 | U.S. Treasury and agency obligations
Assets
Cash equivalents:	0
Level 1 | Term deposits
Assets
Cash equivalents:	0	0
Level 1 | Corporate bonds
Assets
Cash equivalents:	0	0
Level 2
Assets
Cash equivalents:	280,583	113,850
Short-term investments:	135,458	662,811
Total	416,041	776,661
Level 2 | Commercial paper
Assets
Short-term investments:	75,523	244,571
Level 2 | U.S. Treasury and agency obligations
Assets
Short-term investments:	56,887	171,316
Level 2 | Term deposits
Assets
Short-term investments:	3,048	3,009
Level 2 | Corporate bonds
Assets
Short-term investments:		243,915
Level 2 | Money market fund deposits
Assets
Cash equivalents:	0	0
Level 2 | Commercial paper
Assets
Cash equivalents:	156,412	6,369
Level 2 | U.S. Treasury and agency obligations
Assets
Cash equivalents:	88,610
Level 2 | Term deposits
Assets
Cash equivalents:	22,145	83,965
Level 2 | Corporate bonds
Assets
Cash equivalents:	13,416	23,516
Level 3
Assets
Cash equivalents:	0	0
Short-term investments:	0	0
Total	0	0
Level 3 | Commercial paper
Assets
Short-term investments:	0	0
Level 3 | U.S. Treasury and agency obligations
Assets
Short-term investments:	0	0
Level 3 | Term deposits
Assets
Short-term investments:	0	0
Level 3 | Corporate bonds
Assets
Short-term investments:		0
Level 3 | Money market fund deposits
Assets
Cash equivalents:	0	0
Level 3 | Commercial paper
Assets
Cash equivalents:	0	0
Level 3 | U.S. Treasury and agency obligations
Assets
Cash equivalents:	0
Level 3 | Term deposits
Assets
Cash equivalents:	0	0
Level 3 | Corporate bonds
Assets
Cash equivalents:	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Held-to-maturity impairment	$ 0	$ 0
Allowance for credit loss	0	0
Accounts receivable, allowance for credit loss	$ 2,329,000	$ 1,587,000

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Effective Maturity Dates of Held to Maturity Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investment maturity
Held-to-maturity maturities, less than 1 year, book value	$ 135,444	$ 662,807
Held-to-maturity maturities, less than 1 year, fair value	$ 135,458	$ 662,811

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Components and raw materials	$ 170,905	$ 263,652
Work-in-process	30,013	47,997
Finished goods	119,805	142,225
Total	$ 320,723	$ 453,874

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Inventory [Line Items]
Inventory provisions	$ 43,408	$ 9,119	$ 70,259	$ 32,434
Safety Stock
Inventory [Line Items]
Inventory provisions	$ 29,487		$ 29,487

Goodwill and Intangibles (Sched

Goodwill and Intangibles (Schedule of Changes) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 38,540
Foreign exchange adjustment	(56)
Balance, end of period	$ 38,484

Goodwill and Intangibles (Intan

Goodwill and Intangibles (Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 92,415	$ 95,309
Accumulated Amortization	(70,361)	(69,075)
Net  Carrying Amount	22,054	26,234
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	48,219	48,216
Accumulated Amortization	(28,787)	(25,973)
Net  Carrying Amount	$ 19,432	$ 22,243
Weighted- Average  Lives	11 years	11 years
Technology, trademark and trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 26,990	$ 29,903
Accumulated Amortization	(24,368)	(25,960)
Net  Carrying Amount	$ 2,622	$ 3,943
Weighted- Average  Lives	7 years	7 years
Production know-how
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 9,172	$ 9,155
Accumulated Amortization	(9,172)	(9,155)
Net  Carrying Amount	$ 0	$ 0
Weighted- Average  Lives	7 years	7 years
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 8,034	$ 8,035
Accumulated Amortization	(8,034)	(7,987)
Net  Carrying Amount	$ 0	$ 48
Weighted- Average  Lives	8 years	8 years

Goodwill and Intangibles (Narra

Goodwill and Intangibles (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 1,377	$ 2,020	$ 4,180	$ 6,062

Goodwill and Intangibles (Estim

Goodwill and Intangibles (Estimated Future Amortization Expense for Intangibles) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 1,374
2025	4,979
2026	4,218
2027	4,006
2028	3,635
Thereafter	3,842
Net  Carrying Amount	$ 22,054	$ 26,234

Other Liabilities (Components o

Other Liabilities (Components of Accrued Expenses and Other Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued compensation	$ 55,814	$ 67,053
Contract liabilities	52,271	69,219	$ 66,961	$ 80,068
Current portion of accrued warranty	23,261	27,283
Short-term lease liabilities	4,436	4,597
Other	15,006	13,198
Total	$ 150,788	$ 181,350

Other Liabilities (Other Long-T

Other Liabilities (Other Long-Term Liabilities and Deferred Income Taxes) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued warranty	$ 14,164	$ 19,926
Unrecognized tax benefits	14,389	17,176
Long-term lease liabilities	12,026	13,664
Deferred income taxes	4	1,508
Transition tax related to 2017 U.S. tax reform act	0	11,009
Other	5,753	5,369
Total	$ 46,336	$ 68,652

Product Warranties (Narrative)

Product Warranties (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Product Warranty Liability [Line Items]
Accrued warranty reported in accrued expenses and other liabilities	$ 23,261	$ 27,283
Accrued warranty reported other long-term liabilities and deferred income taxes	$ 14,164	$ 19,926
Minimum
Product Warranty Liability [Line Items]
Service warranties on lasers and amplifiers	1 year
Maximum
Product Warranty Liability [Line Items]
Service warranties on lasers and amplifiers	5 years

Product Warranties (Summary of

Product Warranties (Summary of Product Warranty Activity) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance, beginning of period	$ 47,209	$ 52,862
Provision for warranty accrual	4,603	9,874
Warranty claims	(12,902)	(13,792)
Warranty related to business divested	(1,603)	0
Foreign currency translation	118	(850)
Balance, end of period	$ 37,425	$ 48,094

Financing Arrangements (Narrati

Financing Arrangements (Narrative) (Details) € in Thousands, $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)
U S Line Of Credit
Debt Instrument [Line Items]
Line of credit	$ 0		$ 0
Guarantees issued	1,888		2,487
Euro Line Of Credit
Debt Instrument [Line Items]
Line of credit	0		0
Guarantees issued	1,611		1,180
Letter of Credit | U S Line Of Credit
Debt Instrument [Line Items]
Borrowing capacity	75,000
Total unused credit lines and overdraft facilities	73,112
Letter of Credit | Euro Line Of Credit
Debt Instrument [Line Items]
Borrowing capacity	$ 7,254	€ 6,500	$ 7,173

Commitments and Contingencies (

Commitments and Contingencies (Details)	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Legal proceedings	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	$ 2,253,370	$ 2,398,550	$ 2,415,385	$ 2,385,360
Foreign currency translation adjustments and other before reclassification, net of tax expense	21,451	(31,538)	7,129	(46,139)
Reclassification of foreign currency translation adjustments related to the divestiture of Russian operations to net loss, net of tax expense of $1,324	136,670		136,670
Unrealized loss on derivatives, net of tax benefit				(152)
Total other comprehensive income (loss)	158,121	(31,538)	143,799	(46,291)
Balance, end of period	2,114,612	2,383,951	2,114,612	2,383,951
Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	(226,852)	(219,277)	(212,530)	(204,524)
Balance, end of period	(68,731)	(250,815)	(68,731)	(250,815)
Other comprehensive income (loss), net of tax expense (benefit)	1,324		1,324
Foreign currency translation adjustments and other
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	(226,852)	(219,277)	(212,530)	(204,676)
Foreign currency translation adjustments and other before reclassification, net of tax expense	21,451	(31,538)	7,129	(46,139)
Reclassification of foreign currency translation adjustments related to the divestiture of Russian operations to net loss, net of tax expense of $1,324	136,670		136,670
Total other comprehensive income (loss)	158,121	(31,538)	143,799	(46,139)
Balance, end of period	(68,731)	(250,815)	(68,731)	(250,815)
Other comprehensive income (loss), net of tax expense (benefit)	237	(94)	112	10
Unrealized gain (loss) on derivatives, net of tax
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	0	0	0	152
Unrealized loss on derivatives, net of tax benefit				(152)
Total other comprehensive income (loss)	0	0	0	(152)
Balance, end of period	$ 0	$ 0	$ 0	0
Other comprehensive income (loss), net of tax expense (benefit)				$ (46)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax (benefit) expense	$ (8,920)	$ 12,826	$ 5,441	$ 55,272
Effective tax rate	3.70%	18.90%		23.80%
Effective income tax rate reconciliation, tax detriment (benefit), share-based payment arrangement, amount		$ 169		$ 390
Russian Subsidiary
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Loss not benefitted from the loss on divestiture of Russian operations	$ 41,482
Effective income tax rate reconciliation, tax detriment (benefit), share-based payment arrangement, amount			$ 1,435

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of period	$ 17,176	$ 15,841
Change in prior period positions	(3,130)	(1,274)
Additions for tax positions in current period	249	3,738
Foreign currency translation	94
Foreign currency translation		(527)
Balance, end of period	$ 14,389	$ 17,778

Net Income Attributable to IP_3

Net Income Attributable to IPG Photonics Corporation Per Common Share (Computation of Diluted Net Income) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net (loss) income attributable to IPG Photonics Corporation common stockholders	$ (233,594)	$ 54,994	$ (189,341)	$ 177,450
Basic weighted average common shares (in shares)	43,837,357	47,236,901	44,901,247	47,363,974
Dilutive effect of common stock equivalents (in shares)	0	151,218	0	171,661
Diluted weighted average common shares (in shares)	43,837,357	47,388,119	44,901,247	47,535,635
Basic net (loss) income attributable to IPG Photonics Corporation per common share (in dollars per share)	$ (5.33)	$ 1.16	$ (4.22)	$ 3.75
Diluted net (loss) income attributable to IPG Photonics Corporation per common share (in dollars per share)	$ (5.33)	$ 1.16	$ (4.22)	$ 3.73

Net Income Attributable to IP_4

Net Income Attributable to IPG Photonics Corporation Per Common Share (Anti Dilutive Shares Excluded From EPS) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares	972,749	584,429	936,529	966,917
Non-qualified stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares	672,225	529,228	603,058	537,065
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares	202,368	55,201	232,622	376,382
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares	87,662	0	58,872	53,470
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares	10,494	0	41,977	0

Net Income Attributable to IP_5

Net Income Attributable to IPG Photonics Corporation Per Common Share (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Feb. 13, 2024
Equity, Class of Treasury Stock [Line Items]
Reduction of weighted average shares (in shares)	391,942	1,607,958
February 2024 Purchase Plan
Equity, Class of Treasury Stock [Line Items]
Share repurchase authorized amount			$ 300,000
May 2023 Purchase Plan
Equity, Class of Treasury Stock [Line Items]
Stock repurchased during period (in shares)	984,060	3,346,234
Stock repurchase average price (in dollars per share)	$ 74.9	$ 84.79
Remaining repurchase amount	$ 106,781	$ 106,781