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Applied Optoelectronics | ARS: Annual Report to Security Holders

SEC announcement ·  Apr 27 04:09
Summary by Futu AI
Applied Optoelectronics, Inc. (AOI) reported financial results for the year ended December 31, 2023. The company, a leading provider of fiber-optic networking products, saw a slight decrease in revenue of 2.3% to $217.6 million compared to $222.8 million in the previous year. The decline was primarily due to decreased demand in the CATV market, offset by increased demand for datacenter products. Net loss for the year was $56.0 million, an improvement from a net loss of $66.4 million in 2022. Gross margin improved to 27.1% from 15.1% in the prior year, attributed to strategic changes in the CATV go-to-market strategy and increased sales in the datacenter segment. Operating expenses rose by 8.3% to $100.3 million, driven by higher professional service fees and share-based compensation expense. The company also completed an ATM Offering, raising $69.1 million in net proceeds. AOI's CEO and CFO concluded that the company's disclosure controls and procedures were effective as of December 31, 2023. The company's financial position includes $55.1 million in cash, cash equivalents, and short-term investments, with $22.5 million of unused borrowing capacity available.
Applied Optoelectronics, Inc. (AOI) reported financial results for the year ended December 31, 2023. The company, a leading provider of fiber-optic networking products, saw a slight decrease in revenue of 2.3% to $217.6 million compared to $222.8 million in the previous year. The decline was primarily due to decreased demand in the CATV market, offset by increased demand for datacenter products. Net loss for the year was $56.0 million, an improvement from a net loss of $66.4 million in 2022. Gross margin improved to 27.1% from 15.1% in the prior year, attributed to strategic changes in the CATV go-to-market strategy and increased sales in the datacenter segment. Operating expenses rose by 8.3% to $100.3 million, driven by higher professional service fees and share-based compensation expense. The company also completed an ATM Offering, raising $69.1 million in net proceeds. AOI's CEO and CFO concluded that the company's disclosure controls and procedures were effective as of December 31, 2023. The company's financial position includes $55.1 million in cash, cash equivalents, and short-term investments, with $22.5 million of unused borrowing capacity available.
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