Applied Optoelectronics Inc ( (AAOI) ) has released its Q3 earnings. Here is a breakdown of the information Applied Optoelectronics Inc presented to its investors.
Applied Optoelectronics Inc. is a leading manufacturer of advanced optical products, offering solutions for internet datacenters, CATV broadband, telecom, and fiber-to-the-home markets, with facilities in the US, Taiwan, and China.
In the third quarter of 2024, Applied Optoelectronics reported solid financial performance as it expanded production capacity to meet increasing customer demands. The company experienced significant growth in its data center and CATV segments, driven by the introduction of new products and transitioning customer needs.
The company’s GAAP revenue for the quarter reached $65.2 million, marking an increase from both the previous year’s third quarter and the second quarter of 2024. Despite a decline in gross margins compared to the previous year, the company achieved a higher non-GAAP gross margin than the prior quarter. However, the non-GAAP loss per share was larger than anticipated due to increased R&D investments driven by customer interest in new transceiver technologies.
Looking ahead, Applied Optoelectronics projects revenue between $94 million and $104 million for the fourth quarter of 2024, with expectations of improved gross margins. The company remains optimistic about the long-term demand for its datacenter and CATV products, focusing on strategic growth and meeting evolving customer requirements.
