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

SEC ·  Nov 8 05:08

Summary by Moomoo AI

Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic network products, reported its financial results for the third quarter ended September 30, 2024, on November 7, 2024. The company announced a GAAP revenue of $65.2 million, a slight increase from $62.5 million in the same quarter of the previous year, and a significant rise from $43.3 million in the second quarter of 2024. The GAAP gross margin was reported at 24.4%, down from 32.3% in the previous year's quarter. The company experienced a GAAP net loss of $17.8 million, or $0.42 per basic share, which was a larger loss compared to the third quarter of 2023, which saw a net loss of $9.0 million, or $0.27 per basic share. Non-GAAP net loss was also reported at $8.8 million, or $0.21 per basic share...Show More
Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic network products, reported its financial results for the third quarter ended September 30, 2024, on November 7, 2024. The company announced a GAAP revenue of $65.2 million, a slight increase from $62.5 million in the same quarter of the previous year, and a significant rise from $43.3 million in the second quarter of 2024. The GAAP gross margin was reported at 24.4%, down from 32.3% in the previous year's quarter. The company experienced a GAAP net loss of $17.8 million, or $0.42 per basic share, which was a larger loss compared to the third quarter of 2023, which saw a net loss of $9.0 million, or $0.27 per basic share. Non-GAAP net loss was also reported at $8.8 million, or $0.21 per basic share. The company attributed the larger than expected non-GAAP loss per share to accelerated R&D spending driven by new customer requests, particularly for their 1.6 Terabit transceivers in the data center business. Despite the losses, the company's data center business saw double-digit sequential growth, and its CATV business more than tripled from the second quarter. Looking forward, Applied Optoelectronics provided a positive outlook for the fourth quarter of 2024, with revenue expectations ranging from $94 million to $104 million and a non-GAAP net income ranging from a loss of $1.9 million to an income of $1.7 million. The company remains optimistic about the long-term demand for its datacenter and CATV businesses.

This announcement is a separate document:

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