Applied Optoelectronics Q3 2024: Revenue $1.8M, Assets & Liabilities Balance

TL;DR

AOBC Q3 2024: $1.8M revenue, $80K assets/liabilities. Debt due 2027 & 2029.

AI Summary

Applied Optoelectronics, Inc. reported its Q3 2024 results, with total revenue for the nine months ended September 30, 2024, reaching $1,805,000. The company's balance sheet shows total assets of $80,000 and total liabilities of $80,000 as of September 30, 2024. Key debt instruments include a $28.5 million term loan due May 24, 2029, and a $9,934,000 revolving credit facility maturing June 6, 2027.

Why It Matters

This filing provides a snapshot of Applied Optoelectronics' financial health and debt obligations as of Q3 2024, crucial for investors assessing the company's stability and liquidity.

Risk Assessment

Risk Level: medium — The company has significant debt obligations maturing in the coming years, alongside a relatively small asset base, indicating potential financial risk.

Key Numbers

• $1.8M — Revenue (9 months ended 9/30/2024) (Top-line performance for the period.)
• $80.0K — Total Assets (9/30/2024) (Overall value of company's possessions.)
• $80.0K — Total Liabilities (9/30/2024) (Total obligations of the company.)
• $28.5M — Term Loan (Significant debt due in May 2029.)
• $9.9M — Revolving Credit Facility (Available credit line maturing in June 2027.)

Key Players & Entities

• APPLIED OPTOELECTRONICS, INC. (company) — Filer
• $1,805,000 (dollar_amount) — Nine months ended September 30, 2024 revenue
• $80,000 (dollar_amount) — Total assets as of September 30, 2024
• $80,000 (dollar_amount) — Total liabilities as of September 30, 2024
• May 24, 2029 (date) — Maturity date for $28.5 million term loan
• June 6, 2027 (date) — Maturity date for revolving credit facility
• Richard B. Black (person) — Director
• Stefan Murry (person) — Chief Financial Officer

FAQ

Key Financial Figures

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

Filing Documents

• aaoi20240930_10q.htm (10-Q) — 1683KB
• ex_716463.htm (EX-31.1) — 13KB
• ex_716464.htm (EX-31.2) — 13KB
• ex_716465.htm (EX-32.1) — 7KB
• 0001437749-24-033913.txt ( ) — 8024KB
• aaoi-20240930.xsd (EX-101.SCH) — 74KB
• aaoi-20240930_cal.xml (EX-101.CAL) — 64KB
• aaoi-20240930_def.xml (EX-101.DEF) — 456KB
• aaoi-20240930_lab.xml (EX-101.LAB) — 397KB
• aaoi-20240930_pre.xml (EX-101.PRE) — 510KB
• aaoi20240930_10q_htm.xml (XML) — 1377KB

Financial Information

Part I. Financial Information Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months ended September 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Nine Months ended September 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) September 30, December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 34,124 $ 45,366 Restricted cash 7,243 9,731 Accounts receivable - trade, net of allowance of $ 1,805 and $ 3 , respectively 75,154 48,071 Notes receivable 47 219 Inventories 64,382 63,866 Prepaid income tax 4 3 Prepaid expenses and other current assets 7,409 5,349 Total current assets 188,363 172,605 Property, plant and equipment, net 205,303 200,317 Land use rights, net 4,993 5,030 Operating right of use asset 4,102 5,026 Intangible assets, net 3,663 3,628 Other assets, net 3,548 2,580 TOTAL ASSETS $ 409,972 $ 389,186 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 55,991 $ 32,892 Bank acceptance payable 9,934 15,482 Accrued liabilities 19,140 18,549 Unearned revenue 1,439 1,803 Current lease liability - operating 1,115 1,149 Current portion of notes payable and long-term debt 29,483 23,197 Current portion of convertible senior notes — 286 Total current liabilities 117,102 93,358 Non-current lease liability - operating 3,731 4,726 Convertible senior notes 77,053 76,233 TOTAL LIABILITIES 197,886 174,317 Stockholders' equity: Preferred Stock; 5,000 shares authorized at $ 0.001 par value; no shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively — — Common Stock; 80,000 shares authorized at $ 0.001 par value; 44,852 and 38,148 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 45 38 Additional paid-in capital 543,492 478,972 Accumulated other comprehensive income 709 975 Accumulated deficit ( 332,160 ) ( 265,116 ) TOTAL STOCKHOLDERS' EQUITY 212,086 214,869 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 409,972 $

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