Applied Optoelec Stock Price, News & Analysis

Applied Optoelectronics (NASDAQ: AAOI) reported Q2 2024 results with revenue of $43.3 million, up from $41.6 million in Q2 2023. The company faced challenges with non-GAAP gross margin at 22.5%, below expectations due to product mix. GAAP net loss widened to $26.1 million, or $0.66 per share. Despite a slower start to 2024, AAOI remains optimistic about H2, citing new 400G product orders from a large hyperscale customer and expected improvements in datacenter and CATV businesses. For Q3 2024, AAOI forecasts revenue between $60-66 million and non-GAAP gross margin of 24-26%.

Applied Optoelectronics (NASDAQ: AAOI) has announced equity grants to 3 new employees under its 2023 Equity Inducement Plan. The Compensation Committee of the Board of Directors approved inducement awards for 16,145 shares of common stock, with a grant date of July 29, 2024. These awards, in the form of restricted stock units, will vest over a four-year period, contingent on the employees' continued service. The Inducement Plan is specifically designed for granting equity awards to new hires as an incentive for joining Applied Optoelectronics, in compliance with Nasdaq Listing Rule 5635(c)(4).

Applied Optoelectronics Inc (NASDAQ: AAOI) has confirmed that its facilities in Taipei, Taiwan, suffered no known damage from Typhoon Gaemi, which made landfall on July 25, 2024. The company's R&D, manufacturing, and administration facility, located approximately 75 miles north of the storm's landfall, is expected to continue production operations as usual. Dr. Thompson Lin, AOI's founder, president, and CEO, expressed relief that Taipei was spared the worst of the storm's destruction and extended sympathies to those affected in Taiwan and throughout Asia.

Applied Optoelectronics (NASDAQ: AAOI), a leading provider of fiber-optic access network products, has announced the date for its Second Quarter 2024 Financial Results Conference Call. The company will release its financial results for the quarter ended June 30, 2024, on Tuesday, August 6, 2024. A conference call and webcast for analysts and investors will be held at 4:30 p.m. Eastern Time / 3:30 p.m. Central Time on the same day.

To participate in the call, investors can dial 844-890-1794. A live audio webcast and supplemental financials will be available on the company's Investor Relations website. An archived version of the webcast will be accessible for one year after the call. A telephonic replay will be available until August 13, 2024, by dialing 877-344-7529 and entering passcode 1655990.

Applied Optoelectronics (NASDAQ: AAOI) announced that its operations were not materially impacted by Hurricane Beryl, which made landfall near Matagorda, Texas on July 8, 2024. The company confirmed that its Sugar Land headquarters, located approximately 70 miles from the storm's path, sustained no damage. Production operations are expected to continue as usual, with potential staffing constraints due to local recovery efforts and electrical power stability. Dr. Thompson Lin, the company's founder and CEO, extended sympathies to those affected by the hurricane.

Applied Optoelectronics (NASDAQ: AAOI) has announced a settlement with Molex, , resolving their patent infringement dispute and related litigation on mutually satisfactory terms. Dr. Thompson Lin, the company's Founder, President, and CEO, expressed satisfaction with the agreement, highlighting the importance both companies place on patent protection and respecting intellectual property. Specific details of the settlement remain confidential.

Applied Optoelectronics (NASDAQ: AAOI) announced it will join the Russell 3000® Index on July 1, 2024. The inclusion follows the annual Russell US Indexes reconstitution, capturing the 4,000 largest US stocks as of April 30, 2024, ranked by market capitalization. Membership in the Russell 3000® Index ensures AAOI's automatic inclusion in either the Russell 1000® or Russell 2000® Index, as well as relevant growth and value style indexes. This milestone aims to enhance AAOI's exposure and visibility among institutional investors. The Russell indexes, used widely by investment managers, benchmark approximately $10.5 trillion in assets.

Applied Optoelectronics (NASDAQ: AAOI), a major provider of fiber-optic products, announced its participation in the Rosenblatt 4th Annual Technology Summit: The Age of AI. The virtual event is scheduled for June 12, 2024, at 10:00 a.m. Eastern Time. Stefan Murry, the Chief Financial Officer and Chief Strategy Officer, will represent the company in a fireside chat format. A recording of the presentation will be accessible on the company's investor relations website.

Applied Optoelectronics, Inc. reported below-expected revenue and gross margin for Q1 2024, with a net loss of $23.2 million. However, the company anticipates a recovery in Q2 and a strong second half of the year. Despite challenges, they remain optimistic about long-term demand and growth opportunities.