Thank you, Joe.
XX% of at XX% quarter. million was first revenue quarter of We the had quarter a our aerospace $XX.X grew to and which compared and defense, strong our end Second grew in sequentially. upper guidance range
commercial Our from and end X% markets, includes approximately increased quarter. industrial business, which first microfabrication the our
Overall margin the gross top our margins improved and guidance above range. to end XX%, expanded products the of in slightly quarter second approximately to approximately XX% gross
cash quarter $XXX We million equivalents debt. with and investments ended with the no of
Aerospace and our strong and and for in growth defense significant a energy had laser remains both directed opportunity quarter sensing. we business, a
advantage U.S. to of magazine. critical advanced, continue a a the for energy allies' interest and cost cost-effective the Ongoing military defensive Middle part In be they foreign technology. weapons a traditional to strategy compared operations lasers see directed need in weapons energy, believe offer layered in the highlight East will we and significant operating kinetic deep defense as strong our directed increasing solutions. and We Ukraine
directed execution had high-visibility, on we strategically important quarter, energy domestic multiple the strong programs. During
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in program, M-SHORAD a short-range nLIGHT XX-kilowatt missile defense. Army's is high-energy nLIGHT this program XXXX. effort, the laser On air of delivering XX-kilowatt to first for DE critical a Another for prime half laser for high-energy which the contractor is is responsible to develop a
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also a strong quarter We laser had sensing. in
lasers As a detection, a object used air inspection and sea, applications. reminder, laser sensing and wide products range measurement for land, are use space of in and
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to well as contribute that half significantly XXXX, this this one, of latter start and defense future. well program, the programs LRIP we Our expect our will into customers' to in products as revenue forecasts like suggest the sometime other
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the revenue sequentially, is the several been quarters, average demand. our overall microfabrication in million range, the million run of to $XX to microfabrication for the $XX in began see down while was several below renewed has second the quarterly rate last Over which In years. signs million prior $XX X% quarter, we
believe at our are seeing significant point customers semiconductor inventory at for the chain which increase stable we supply in built We mitigate overall more inventory finally During to COVID, demand pervasive broad-based and lasers. an challenges. we are levels
end we have serve their risks. additive own and opportunities which welding manufacturing and cutting, markets, three industrial, In markets, each
the cutting, which to today, industry In continue and higher power largest business shift industrial of our business portion towards our represents solutions. the
in of be high-powered revenue comprised our cutting to by Our leading customers. lasers programmable is our continue innovative primarily adopted which
our innovate to pain product offerings customers' continue We our most points. to meet critical
have tool bifurcated standard their machine share increased as As in are using quarters, suppliers. we've suppliers laser adopting customers prior market lasers Chinese in discussed a strategy Chinese
EV several in are at In welding, focused pain Show in Battery The and new most our customers' products we In the quarter, on second Europe. markets. the battery critical solving points we've released
first, welding The product software is solutions time monitoring takes line. process the an a to we into parameter it for This process automatic reduces the monitoring implement APT, call tuning it market.
spatial spatter WELDform, also reducing product pool, optimize and We which combines porosity. melt released and to controls the such temporal called defects deleterious a as
introduced laser capabilities the improving integrates technology. process the line, itself, Plasmo we integration released fully integrates monitoring lowering a into within and nLIGHT which further that we've process cost. factory ProcessGuard first laser the technology is and monitoring significantly that simplifying reliability Lastly, ProcessGuard, product
today, a business been our have of address key part points of pain date. Although and new many our customers' welding received our product well to remains small introductions
driving end printing work strategic that multiple metal broader we to manufacturing, additive on In adoption closely many of customers XD are technologies markets. focused with
part as of machine. that build directly the challenges industry per a is the shorter part produced translate One build times the by to a critical most overall into of facing manufacturing additive lower cost reduce time
second EOS complementary a collaboration a by quarter, can engine. with the set leader and together, manufacturing. customers, manufacturing of our the agreement technologies, EOS, possess that we industry of an light each working one announced we nLIGHT optimize we believe in additive In additive and
nLIGHT's single programmable surfaces an and XXX-micron a Corona profile properties faster laser, AFX ranging profiles X and laser bulk for printing soot of from to smooth improved offers shaping spatter. spot different material, features from beam contouring a for XX-micron reduced beam mechanical high-precision and ring printing
lasers and of thus, drive expected performance Xx part gains cost is to The to printing aluminum metal productivity of AFX speeds significant printing flexibility gains lower for steel laser technology laser Corona XD compared up faster and process. nLIGHT standard shaping EOS' nLIGHT's XXX-watt alloys to and deliver per a beam systems. for
markets, half. commercial remain and growth well In summary, progress positioned good the Moreover, expect in in made very beyond. for half of second with XXXX strong and multiple to continue in profitable and we compared we growth we've first the the defense end year
discuss that, With to results. I'll turn the quarter our over second to call Joe financial
