Applied Optoelectronics Reports Second Quarter 2024 Results

　　SUGAR LAND, Texas, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic access network products for the internet datacenter, cable broadband, telecom and fiber-to-the-home (FTTH) markets, today announced financial results for its second quarter ended June 30, 2024.

　　“Our revenue for the second quarter was in line with our expectations. While our non-GAAP gross margin came in below our expectations, primarily due to product mix, our non-GAAP loss per share was favorable compared to our expectations,” said Dr. Thompson Lin, Applied Optoelectronics Inc. Founder, President and Chief executive Officer. “We continue to feel optimistic about the second half of the year despite a slower start to 2024. Notably, we are pleased to announce that we’ve begun to receive orders for 400G products from another large hyperscale customer, and we are very excited about this new customer interaction. Further, we began to see business improvement in our datacenter business during Q2 and expect continued improvement throughout the year. Lastly, while we saw generally slower CATV sales during the second quarter as our customers prepare to transition to DOCSIS 4.0, we believe that this transition is underway and expect our CATV results to begin to ramp in Q3.”

　　Second Quarter 2024 Financial Summary

　　GAAP revenue was $43.3 million, compared with $41.6 million in the second quarter of 2023 and $40.7 million in the first quarter of 2024.

　　GAAP gross margin was 22.1%, compared with 19.0% in the second quarter of 2023 and 18.7% in the first quarter of 2024. Non-GAAP gross margin was 22.5%, compared with 24.8% in the second quarter of 2023 and 18.9% in the first quarter of 2024.

　　GAAP net loss was $26.1 million, or $0.66 per basic share, compared with net loss of $16.9 million, or $0.57 per basic share in the second quarter of 2023, and a net loss of $23.2 million, or $0.60 per basic share in the first quarter of 2024.

　　Non-GAAP net loss was $10.9 million, or $0.28 per basic share, compared with non-GAAP net loss of $6.1 million, or $0.21 per basic share in the second quarter of 2023, and a non-GAAP net loss of $12.0 million, or $0.31 per basic share in the first quarter of 2024.

　　A reconciliation between all GAAP and non-GAAP information referenced above is contained in the tables below. Please also refer to “Non-GAAP Financial Measures” below for a description of these non-GAAP financial measures.

　　Third Quarter 2024 Business Outlook (+)

　　For third quarter of 2024, the company currently expects:

　　Revenue in the range of $60 million to $66 million.

　　Non-GAAP gross margin in the range of 24% to 26%.

　　Non-GAAP net loss in the range of $5.9 million to $8.6 million, and non-GAAP loss per share in the range of $0.14 to $0.20 using approximately 43.2 million shares.

　　(+) Please refer to the note below on forward-looking statements and the risks involved with such statements as well as the note on non-GAAP financial measures.

　　About Applied Optoelectronics

　　Applied Optoelectronics Inc. (AOI) is a leading developer and manufacturer of advanced optical products, including components, modules and equipment. AOI's products are the building blocks for broadband fiber access networks around the world, where they are used in the internet datacenter, CATV broadband, telecom and FTTH markets. AOI supplies optical networking lasers, components and equipment to tier-1 customers in all four of these markets. In addition to its corporate headquarters, wafer fab and advanced engineering and production facilities in Sugar Land, TX, AOI has engineering and manufacturing facilities in Taipei, Taiwan and Ningbo, China. For additional information, visit www.ao-inc.com.

      SOURCE AOI