The following is a summary of the Applied Optoelectronics, Inc. (AAOI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Applied Optoelectronics reported Q1 revenue of $40.7 million, falling slightly short of the guided range.

• The non-GAAP gross margin was 18.9%, coming in under the expected range due to varying quarter mixes.

• Non-GAAP loss per share was $0.31, aligning within the projected range of a loss between $0.28 and $0.33.

• The company used $4 million in cash to reduce its debt.

Business Progress:

• Revenue from data center products saw a year-over-year increase by 42% to $29 million.

• There was significant revenue growth observed in 100G and 400G products.

• The downturn in the CATV segment led to a 59% decline in revenue, but a transition to DOCSIS 4.0 is expected to begin in Q3.

• Despite a delay with Microsoft, the company has forecast shipping ramp-ups from Q2, with considerable acceleration in Q3 and Q4.

• Market demand for 800 gig and 1.6 terabit products is intensifying, and the company is accelerating their production accordingly.

• While contracts for the deployment of 800 gig and 1.6 terabit products are not yet formalized, affirmative negotiations are in progress.

• The company is investing in automation and planning to conduct manufacturing from Houston.

• Anticipated revenues from the 800 gig business are expected to lie between $500 and $600 million in the following year.

More details: Applied Optoelectronics IR

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