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Applied Optoelectronics | 8-K: Applied Optoelectronics Reports Second Quarter 2024 Results

SEC ·  Aug 6, 2024 15:10

Summary by Moomoo AI

Applied Optoelectronics reported Q2 2024 revenue of $43.3M, up 4% YoY from $41.6M, with datacenter revenue growing to $34.4M. The company posted a GAAP net loss of $26.1M ($0.66 per share) and non-GAAP net loss of $10.9M ($0.28 per share). Gross margin was 22.1% on GAAP basis and 22.5% on non-GAAP basis.The company announced securing orders from a new large hyperscale customer for 400G products and saw business improvements in datacenter segment during Q2. While CATV sales slowed as customers prepare for DOCSIS 4.0 transition, management expects CATV results to begin ramping in Q3.For Q3 2024, the company expects revenue between $60M-$66M, non-GAAP gross margin of 24%-26%, and non-GAAP net loss of $5.9M-$8.6M ($0.14-$0.20 per share).
Applied Optoelectronics reported Q2 2024 revenue of $43.3M, up 4% YoY from $41.6M, with datacenter revenue growing to $34.4M. The company posted a GAAP net loss of $26.1M ($0.66 per share) and non-GAAP net loss of $10.9M ($0.28 per share). Gross margin was 22.1% on GAAP basis and 22.5% on non-GAAP basis.The company announced securing orders from a new large hyperscale customer for 400G products and saw business improvements in datacenter segment during Q2. While CATV sales slowed as customers prepare for DOCSIS 4.0 transition, management expects CATV results to begin ramping in Q3.For Q3 2024, the company expects revenue between $60M-$66M, non-GAAP gross margin of 24%-26%, and non-GAAP net loss of $5.9M-$8.6M ($0.14-$0.20 per share).
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