Applied Optoelectronics Q2 2024: Revenue $1.8M, Net Loss $38.1M

TL;DR

AOBC Q2 2024: Revenue $1.8M, Net Loss $38.1M. Balance sheet looks tight.

AI Summary

Applied Optoelectronics, Inc. reported its Q2 2024 results, with total revenue for the six months ending June 30, 2024, reaching $1,839,000. The company's financial statements show a net loss of $38,148,000 for the same period. As of June 30, 2024, the company had total assets of $80,000,000 and total liabilities of $80,000,000.

Why It Matters

This filing provides insight into Applied Optoelectronics' financial performance and stability during the first half of 2024, which can influence investor decisions and market perception.

Risk Assessment

Risk Level: high — The company reported a significant net loss and a balance sheet with total assets equaling total liabilities, indicating potential financial strain.

Key Numbers

• $1.8M — Revenue (YTD) (Represents the total sales for the first six months of 2024.)
• $38.1M — Net Loss (YTD) (Indicates the company's profitability for the first six months of 2024.)
• $80.0M — Total Assets (Shows the company's total resources as of June 30, 2024.)
• $80.0M — Total Liabilities (Represents the company's total obligations as of June 30, 2024.)

Key Players & Entities

• APPLIED OPTOELECTRONICS, INC. (company) — Filer
• 20240630 (date) — Period of Report
• $1,839,000 (dollar_amount) — Revenue for six months ended June 30, 2024
• $38,148,000 (dollar_amount) — Net loss for six months ended June 30, 2024
• $80,000,000 (dollar_amount) — Total assets as of June 30, 2024
• $80,000,000 (dollar_amount) — Total liabilities as of June 30, 2024

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, Par value $0.001 AAOI NASDAQ Global Market Indicate

Filing Documents

• aaoi20240630_10q.htm (10-Q) — 1670KB
• ex_680732.htm (EX-31.1) — 13KB
• ex_680733.htm (EX-31.2) — 13KB
• ex_680734.htm (EX-32.1) — 7KB
• 0001437749-24-024888.txt ( ) — 7859KB
• aaoi-20240630.xsd (EX-101.SCH) — 72KB
• aaoi-20240630_cal.xml (EX-101.CAL) — 64KB
• aaoi-20240630_def.xml (EX-101.DEF) — 449KB
• aaoi-20240630_lab.xml (EX-101.LAB) — 388KB
• aaoi-20240630_pre.xml (EX-101.PRE) — 501KB
• aaoi20240630_10q_htm.xml (XML) — 1335KB

Financial Information

Part I. Financial Information Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Six Months ended June 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months ended June 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Six Months ended June 30, 2024 and 2023 (Unaudited) 8 Notes To Condensed Consolidated Financial Statements (Unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 5. Other Information 29 Item 6. Exhibits 29

Signatures

Signatures 30 2 Table of Contents

Financial Information

Part I. Financial Information

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Applied Optoelectronics, Inc. and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands) June 30, December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 10,653 $ 45,366 Restricted cash 5,465 9,731 Accounts receivable - trade, net of allowance of $ 1,839 and $ 3 , respectively 57,661 48,071 Notes receivable 435 219 Inventories 54,322 63,866 Prepaid income tax 4 3 Prepaid expenses and other current assets 4,429 5,349 Total current assets 132,969 172,605 Property, plant and equipment, net 197,781 200,317 Land use rights, net 4,939 5,030 Operating right of use asset 4,249 5,026 Intangible assets, net 3,616 3,628 Other assets, net 4,486 2,580 TOTAL ASSETS $ 348,040 $ 389,186 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 33,518 $ 32,892 Bank acceptance payable 5,048 15,482 Accrued liabilities 17,210 18,549 Unearned revenue 1,570 1,803 Current lease liability - operating 1,087 1,149 Current portion of notes payable and long-term debt 22,506 23,197 Current portion of convertible senior notes — 286 Total current liabilities 80,939 93,358 Non-current lease liability - operating 3,917 4,726 Convertible senior notes 76,690 76,233 TOTAL LIABILITIES 161,546 174,317 Stockholders' equity: Preferred Stock; 5,000 shares authorized at $ 0.001 par value; no shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively — — Common Stock; 80,000 shares authorized at $ 0.001 par value; 40,645 and 38,148 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 41 38 Additional paid-in capital 502,387 478,972 Accumulated other comprehensive income ( 1,531 ) 975 Accumulated deficit ( 314,403 ) ( 265,116 ) TOTAL STOCKHOLDERS' EQUITY 186,494 214,869 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 348,040 $ 389,186

View Full Filing

View this 10-Q filing on SEC EDGAR