Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

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Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

3 Cash-Heavy Stocks That Concern Us

CVLT Cover Image

Companies with more cash than debt can be financially resilient, but that doesn’t mean they’re all strong investments. Some lack leverage because they struggle to grow or generate consistent profits, making them unattractive borrowers.

Not all businesses with cash are winners, and that’s why we built StockStory - to help you separate the good from the bad. That said, here are three companies with net cash positions that don’t make the cut and some better choices instead.

Commvault (CVLT)

Net Cash Position: $333.6 million (3.9% of Market Cap)

Born from the need to create ironclad protection in an increasingly dangerous digital world, Commvault (NASDAQ: CVLT) provides data protection and cyber resilience software that helps organizations secure, back up, and recover their data across on-premises, hybrid, and multi-cloud environments.

Why Are We Hesitant About CVLT?

  1. 9.1% annual revenue growth over the last five years was slower than its software peers
  2. Estimated sales growth of 13.2% for the next 12 months implies demand will slow from its two-year trend
  3. Costs have risen faster than its revenue over the last year, causing its operating margin to decline by 1.1 percentage points

Commvault is trading at $193.72 per share, or 7.4x forward price-to-sales. If you’re considering CVLT for your portfolio, see our FREE research report to learn more.

Proto Labs (PRLB)

Net Cash Position: $100.8 million (8.3% of Market Cap)

Pioneering the concept of online quoting and manufacturing for custom prototypes and low-volume production parts, Proto Labs (NYSE: PRLB) offers injection molding, 3D printing, and sheet metal fabrication for manufacturers in various industries.

Why Do We Think PRLB Will Underperform?

  1. Sales trends were unexciting over the last two years as its 2.4% annual growth was below the typical industrials company
  2. Expenses have increased as a percentage of revenue over the last five years as its operating margin fell by 7.6 percentage points
  3. Earnings per share have dipped by 9.3% annually over the past five years, which is concerning because stock prices follow EPS over the long term

At $51.02 per share, Proto Labs trades at 34.5x forward P/E. Check out our free in-depth research report to learn more about why PRLB doesn’t pass our bar.

NBT Bancorp (NBTB)

Net Cash Position: $17.22 million (0.8% of Market Cap)

Tracing its roots back to 1856 when it first opened its doors in Norwich, New York, NBT Bancorp (NASDAQ: NBTB) is a community-oriented financial institution providing banking, wealth management, and insurance services to individuals and businesses across the northeastern United States.

Why Are We Wary of NBTB?

  1. Inferior net interest margin of 3.3% means it must compensate for lower profitability through increased loan originations
  2. Annual earnings per share growth of 3.1% underperformed its revenue over the last five years, showing its incremental sales were less profitable
  3. Estimated tangible book value per share growth of 3.7% for the next 12 months implies profitability will slow from its two-year trend

NBT Bancorp’s stock price of $42.83 implies a valuation ratio of 1.2x forward P/B. Read our free research report to see why you should think twice about including NBTB in your portfolio.

High-Quality Stocks for All Market Conditions

When Trump unveiled his aggressive tariff plan in April 2025, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that’s already erased most losses.

Don’t let fear keep you from great opportunities and take a look at Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today

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