IPG Photonics Corporation (NASDAQ:IPGP) Q1 2022 Earnings Conference Call May 3, 2022 10:00 AM ET
Company Participants
Eugene Fedotoff - Director, Investor Relations
Eugene Scherbakov - Chief Executive Officer
Tim Mammen - Senior Vice President & Chief Financial Officer
Conference Call Participants
Nik Todorov - Longbow Research
Chris Grenga - Needham & Company
Tom Diffely - D.A. Davidson
Mark Miller - The Benchmark Company
Michael Feniger - Bank of America
Operator
Good morning, and welcome to IPG Photonics' First Quarter 2022 Conference Call. Today's call is being recorded and webcast.
At this time, I’d like to turn the call over to Eugene Fedotoff, IPG's Director of Investor Relations, for introductions. Please go ahead sir.
Eugene Fedotoff
Thank you Rob and good morning everyone. With us today is IPG Photonics CEO, Dr. Eugene Scherbakov; and Senior Vice President and CFO, Tim Mammen. Statements made during the course of this call that discuss management's or the company's intentions, expectations or predictions of the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause the company's actual results to differ materially from those projected in such forward-looking statements.
These risks and uncertainties are detailed at IPG Photonics' Form 10-K for the period ended December 31, 2021, and other reports on file with the Securities and Exchange Commission. Copies of these filings may be obtained by visiting the Investors section of IPG's website or by contacting the company directly. You may also find copies on the SEC's website.
Any forward-looking statements made on this call are the company's expectations or predictions as of today, May 3, 2022, only. The company assumes no obligation to publicly release any updates or revisions to any such statements. For additional details on our reported results, please refer to the earnings press release, earnings call presentation and the excel-based financial data workbook posted on our investor relations website. We will post these prepared remarks on the investor relations website following the completion of this call.
With that, I'll now turn the call over to Eugene Scherbakov.
Eugene Scherbakov
Good morning, everyone. We are pleased to report a strong start to the year with the first quarter revenue above the top end of our guidance. Revenue increased 7% year-over-year, benefiting from higher demand in Europe, North America and Japan. We are particularly pleased to see that growth was driven by many emerging applications across all major geographies.