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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
any associated application fees incurred. Additionally, if the Agreement is terminated under certain circumstances, and the Company fails to sell a minimum amount of the Shares as set forth in the A... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Offering are as follows (in thousands, except shares and weighted average per share price):
Distribution Agent
Month
Weighted Average Per Share Price
Number of Shares Sold
Net Proceeds
Compens... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.8947
313,333
889
18
Raymond James & Associates, Inc.
November 2022
2.7830
29,426
80
Total
544,424
2,192
44
F-
Table of Contents
NOTE R—SEGMENT AND GEOGRAPHIC INFORMAT... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
product is manufactured. Long-lived assets in the tables below comprise only property, plant, equipment and intangible assets (in thousands):
Year ended December 31,
2022
2021
2020
Revenues:
U... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,509
108,575
224,713
259,862
270,654
APPLIED OPTOELECTRONICS, INC. serves four primary markets, CATV, the internet data center, telecom and FTTH markets. Of the Company’s total revenues in 2022,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
6%, from the CATV market, $97.5 million, or 46.1%, from the internet data center market, $16.2 million, or 7.7%, from the telecom market and $1.0 million, or 0.5%, from the FTTH market. Of the Compan... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
NOTE S—EMPLOYEE BENEFIT PLANS
Employees of Global participate in a state-mandated social security program in China. Under this program, pension costs are recorded on the basis of required monthly co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
for the Prime World’s Taiwan branch was $0.5 million, $0.7 million, and $0.8 million for the years ended December 31, 2022, 2021 and 2020, respectively.
NOTE T—COMMITMENTS AND CONTINGENCIES
Emplo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the agreements.
APPLIED OPTOELECTRONICS, INC. has also entered into employment and indemnification agreements with one other executive officer. This agreement provides that if his employment is ter... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. Unless otherwise disclosed, the Company is unable to estimate the possible loss or range of loss for the legal proceeding described below.
APPLIED OPTOELECTRONICS, INC. believes that there are no ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
0 million including interest charges. APPLIED OPTOELECTRONICS, INC. paid $0.4 million for the tax notice, but challenged the remaining tax assessments and vigorously defended its position. The Comptr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
76-0533927
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
13139 Jess Pirtle Blvd.
Sugar Land, TX 77478
(Address of principal executive office... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark wh... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the Exchange Act). Yes ☐ No ☒
As of May 2, 2023 there were 29,195,682 shares of the registrant’s Common Stock outstanding.
Table of Contents
Applied Optoele... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
for the Three Months ended March 31, 2023 and 2022 (Unaudited)
Condensed Consolidated Statements of Stockholders’ Equity for the Three Months ended March 31, 2023 and 2022 (Unaudited)
Condensed Co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Item 1A.
Risk Factors
30
Item 6.
Exhibits
31
Signatures
33
Table of Contents
Part I. Financial Information
Item 1. Condensed Consolidated Financial Statements
Applied Optoelectronics, Inc.... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
339
Inventories
70,186
79,679
Prepaid expenses and other current assets
6,517
6,384
Total current assets
161,529
183,164
Property, plant and equipment, net
207,171
210,184
Land use right... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,845
Bank acceptance payable
19,196
12,337
Accrued liabilities
13,505
17,222
Deferred revenue
2,763
3,000
Current lease liability - operating
1,035
1,041
Current lease liability - financ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$0.001 par value; 29,072 and 28,622 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively
29
29
Additional paid-in capital
394,147
391,526
Accumulated other compr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
sidiaries
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except share and per share data)
Three months ended March 31,
2023
2022
Revenue, net
53,030
52,242
Cost of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Interest expense
(2,137
(1,401
Other expense, net
(21
(450
Total other income (expense), net
(2,125
(1,823
Loss before income taxes
(16,292
(16,062
Net loss
(16,292
(16,062
Net loss ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
statements.
Table of Contents
Applied Optoelectronics, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited, in thousands)
Three months ended March ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Months ended March 31, 2023 and 2022
(Unaudited, in thousands)
Accumulated
Preferred Stock
Common Stock
Additional
other
Number
Number
paid-in
comprehensive
Accumulated
Stockholders'
of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
translation adjustment
1,640
(2
1,638
Net loss
(16,292
(16,292
March 31, 2023
29,072
29
394,147
3,823
(225,362
172,637
Accumulated
Preferred Stock
Common Stock
Additional
other
Nu... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
207
(141
(141
Share-based compensation
2,472
2,472
Foreign currency translation adjustment
(1,262
(1,262
Net loss
(16,062
(16,062
March 31, 2022
27,530
27
383,474
14,809
(158,733
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
292
(16,062
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance of bad debt
11
(1
Inventory reserve adjustment
2,588
2,037
Depreciation and amortization
5,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(1,978
Other current assets
(80
(1,422
Operating right of use asset
230
243
Accounts payable
(9,427
(406
Accrued liabilities
(3,815
(2,271
Unearned revenue
(237
Lease liability
(257
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,051
Financing activities:
Principal payments of long-term debt and notes payable
(170
Proceeds from line of credit borrowings
19,482
41,395
Repayments of line of credit borrowings
(25,402
(... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(110
Net decrease in cash, cash equivalents and restricted cash
(8,639
(1,028
Cash, cash equivalents and restricted cash at beginning of period
35,587
41,136
Cash, cash equivalents and restric... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Optoelectronics, Inc. and Subsidiaries
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
Note 1. Description of Business
Business Overview
Applied Optoelectronics, Inc. (“AOI”... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
development facilities located in the U.S., Taiwan and China. In the U.S., at its corporate headquarters and manufacturing facilities in Sugar Land, Texas, the Company primarily manufactures lasers ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
). Through Global, the Company primarily manufactures certain of its data center transceiver products, including subassemblies, as well as CATV systems and equipment, and performs research and develo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Optoelectronic Technology (Shanghai) Co., Ltd
On September 15, 2022, the Company entered into a definitive purchase agreement with Yuhan Optoelectronic Technology (Shanghai) Co., Ltd ("Purchaser")... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Renminbi, less a holdback amount. Prior to the closing of the transaction the Company anticipates investing an amount equal to between 4% and 10% of the estimated proceeds from the transaction in ex... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
significance, or potential significance, to our Consolidated Financial Statements.
Table of Contents
Note 3. Revenue Recognition
Disaggregation of Revenue
Revenue is classified based on the loc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
265
10.1
FTTH
0.0
98
0.2
Other
1,189
2.2
484
0.9
Total Revenue
53,030
100.0
52,242
100.0
Table of Contents
Note 4. Leases
APPLIED OPTOELECTRONICS, INC. leases space under non-cance... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
are accounted for as a single lease component as the Company has elected the practical expedient to group lease and non-lease components for all leases. Several of the leases include one or more opt... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
amount equal to the lease payments in a similar economic environment. Based on the applicable lease terms and current economic environment, the Company applies a location approach for determining th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(in thousands):
Operating
Financing
2023
1,221
60
2024
1,136
2025
1,151
2026
1,076
2027
1,099
2028 and thereafter
1,289
Total lease payments
6,971
60
Less imputed interest
(629
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
0.58
1.58
Weighted Average Discount Rate - operating leases
3.20
3.22
Weighted Average Discount Rate - financing leases
5.00
5.00
Supplemental cash flow information related to the leases wa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
total of the same such amounts in the statement of cash flows (in thousands):
March 31,
December 31,
2023
2022
Cash and cash equivalents
16,103
24,685
Restricted cash
10,845
10,902
Total ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
restricted stock units and senior convertible notes outstanding during the period. In periods with net losses, normally dilutive shares become anti-dilutive. Therefore, basic and diluted loss per sh... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(0.58
The following potentially dilutive securities were excluded from the diluted net loss per share as their effect would have been antidilutive (in thousands):
Three months ended March 31,
2023... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
33,614
39,563
Finished goods
15,257
14,384
Total inventories
70,186
79,679
Note 8. Property, Plant & Equipment
Property, plant and equipment consisted of the following for the periods indic... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(183,003
(177,519
175,519
178,649
Construction in progress
30,551
30,434
Land
1,101
1,101
Total property, plant and equipment, net
207,171
210,184
s $5.2 million and $
the Company con... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the following for the periods indicated (in thousands):
March 31, 2023
Gross
Accumulated
Intangible
Amount
amortization
assets, net
Patents
9,111
(5,493
3,618
Trademarks
60
(23
37
To... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
three months ended March 31, 2023 and 2022, amortization expense for intangible assets, included in general and administrative expenses on the statement of operations, was each $0.2 million. The re... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, accounts receivable, prepaid expenses, notes receivable and other current assets, accounts payable, accrued expenses, bank acceptance payable and other current liabilities approximate fair value be... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
/2023 or 11/16/2025 if the convertible debt remains in effect
20,520
25,000
Revolving line of credit with a China bank up to $19,037 with interest from 4.57% to 6.12%, maturing May 24, 2024
12,91... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
58,242
Less debt issuance costs, net
(1,073
(1,168
Grand total
50,921
57,074
Less current portion
(50,921
(57,074
Non-current portion
Bank Acceptance Notes Payable
Bank acceptance notes i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Table of Contents
five-year revolving credit line agreement, totaling
five-year credit line agreement, totaling
As of
and
, the Company had $
million of unused borrowing capacity, respectively.... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the CapEx Loan and Term Loan with Truist Bank and the remainder will be used for general corporate purposes.
The following table presents the carrying value of the Notes for the periods indicated (... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
equal in right of payment with existing and future senior, unsecured indebtedness, senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
indebtedness, to the extent of the value of the collateral securing that indebtedness.
Holders may require the Company to repurchase their Notes upon the occurrence of a fundamental change (as def... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Notes utilizing the effective interest method and are being amortized over the term of the Notes.
The following table sets forth interest expense information related to the Notes (in thousands):
T... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
benefits
3,208
3,265
Accrued state and local taxes
570
588
Accrued interest
635
1,597
Accrued shipping and tariff expenses
Advanced payments
200
216
Accrued commission expenses
940
93... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
237
(523
Government subsidy income
118
18
Other non-operating gain
101
16
Gain (loss) on disposal of assets
(3
39
Total other income (expenses) , net
(21
(450
Table of Contents
Note 15... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
have a maximum term of ten years. Stock options under these plans have been granted with an exercise price equal to the fair market value on the date of the grant. Nonqualified and Incentive Stock O... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
All options expire ten years after the date of grant.
The following is a summary of option activity:
Weighted
Weighted
Weighted
Average
Average
Average
Share Price
Weighted
Remaining
Aggr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2023
229
10.84
5.56
0.57
Vested and expected to vest
229
10.84
5.56
0.57
As of March 31, 2023, there was no unrecognized stock option expense.
Performance Based Incentive Plan
. APP... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ited
Outstanding, March 31, 2023
766
6.75
1,692
Vested and expected to vest
766
6.75
1,692
As of March 31, 2023, there was $2.4 million of unrecognized compensation expense related to these... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
4,175
Granted
27
2.70
73
Released
(326
6.94
765
Cancelled/Forfeited
(47
3.78
103
Outstanding, March 31, 2023
1,864
5.56
4,120
Vested and expected to vest
1,864
5.56
4,120
As of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
3
2022
Share-based compensation - by expense type
Cost of goods sold
114
136
Research and development
297
365
Sales and marketing
195
226
General and administrative
1,684
1,745
Total s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
negative evidence related to the likelihood of realization of deferred tax assets using a “more likely than not” standard. In making such assessment, more weight was given to evidence that could be ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
tables set forth the Company’s revenue and asset information by geographic region. Revenue is classified based on the location of where the product is manufactured. Long-lived assets in the tables b... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
828
93,888
221,504
224,713
Table of Contents
Note 18. Contingencies
Litigation
Overview
From time to time, the Company may be subject to legal proceedings and litigation arising in the ordi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Taxes Notification of Audit Result (“Notice”) from the Texas Comptroller’s Office (the “Comptroller”), for fiscal years between 2016 and 2019, informing the Company that the Comptroller believes the... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the Company received a notice from an attorney representing the Administrative Hearings Section ("AHS") to issue a Position Letter.
Note 19. Subsequent Events
APPLIED OPTOELECTRONICS, INC. repaid... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.
Table of Contents
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
This Quarterly Report on Form 10-Q contains “forward-looking statements” that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
"predicts," "think," "objectives," "optimistic," "new," "goal," "strategy," "potential," "is likely," "will," "expect," "plan," "project," "permit," or by other similar expressions that convey unce... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
such differences include, but are not limited to, those identified in “Part II —Item 1A. Risk Factors” provided below, and those discussed in other documents we file with the SEC, including our Repo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
a range of optical communications products at varying levels of integration, from components, subassemblies and modules to complete turn-key equipment. In designing products for our customers, we ty... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
target are all driven by significant bandwidth demand fueled by the growth of network-connected devices, video traffic, cloud computing and online social networking. Within the CATV market, we benef... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and system upgrades among telecom service providers. In the telecom market, we benefit from deployment of new high-speed fiber-optic networks by telecom network operators, including 5G networks.
Ou... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in temperature and humidity, making them well-suited to the CATV, FTTH and 5G telecom markets where networking equipment is often installed outdoors.
We have three manufacturing sites: Sugar Land, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
we manufacture optical components, such as our butterfly lasers, which incorporate laser chips, subassemblies and components manufactured within our Sugar Land facility. Additionally, in our Taiwan ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and Sugar Land, Texas are all certified to ISO 14001:2015.
Our business depends on winning competitive bid selection processes to develop components, systems and equipment for use in our customers’... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to continue to be purchased for that design throughout that product’s life cycle because of the time and expense associated with redesigning the product or substituting an alternative solution.
Our... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
han Optoelectronic Technology (Shanghai) Co., Ltd. ("Purchaser"), which is a company incorporated in the PRC. The transaction is expected to close in late 2023 or 2024 subject to satisfaction of cert... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, the Company will focus its resources on its CATV business and manufacturing lasers and laser components for the CATV, datacenter, telecom and FTTH markets.
Our management has performed an evaluati... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
fair value. Although we have announced the execution of a definitive purchase agreement regarding the Divestiture, completion of this transaction is not certain for reasons that include the fact tha... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
We are subject to risks and uncertainties as a result of the COVID-19 pandemic. The extent of the impact of the COVID-19 pandemic on our business is highly uncertain and difficult to predict as COVI... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ions on quarantine and testing.
The spread of COVID-19 has impacted our supply chain operations through restrictions, reduced capacity and shutdown of business activities by suppliers whom we rely o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
030
100.00
52,242
100.0
Cost of goods sold
43,786
82.57
43,217
82.7
Gross profit
9,244
17.43
9,025
17.3
Operating expenses
Research and development
8,536
16.10
9,486
18.2
Sales an... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,239
(27.3
)%
Other income (expense)
Interest income
33
0.06
28
0.1
Interest expense
(2,137
(4.03
)%
(1,401
(2.7
)%
Other income, net
(21
(0.04
)%
(450
(0.9
)%
Total other inco... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
loss
(16,292
(30.72
)%
(16,062
(30.7
)%
23
Table of Contents
Comparison of Financial Results
Revenue
We generate revenue through the sale of our products to equipment providers and networ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022
Revenue
Amount
CATV
27,779
52.4
24,980
47.8
2,799
11.2
Data Center
20,353
38.4
21,415
41.0
(1,062
(5.0
)%
Telecom
3,707
7.0
5,265
10.1
(1,558
(29.6
)%
FTTH
0.0
98
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
100.0
788
1.5
The increase in revenue during the three months ended March 31, 2023 was driven primarily by strong demand in CATV product sales arising from products with architecture improvement... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in revenue from one of our largest data center customers which was related to furnishing qualification reports to ensure future orders will be fullfilled and expedited. We believe there will be addi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
customers. We continue to prioritize new customer acquisition and growth of diverse revenue streams.
24
Table of Contents
Cost of goods sold and gross margin
Three months ended March 31,
2023
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
months ended March 31, 2022, primarily due to the 1.5% sales increase and higher cost of certain raw materials due to global supply chain disruption.
Gross profit increased $0.2 million, or 2.4% fo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
486
18.2
(950
(10.0
)%
Sales and marketing
2,327
4.4
2,558
4.9
(231
(9.0
)%
General and administrative
12,548
23.7
11,220
21.5
1,328
11.8
Total operating expenses
23,411
44.1
2... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
R&D work orders, R&D material usage and other project related costs related to 100 Gbps, 200/400 Gbps data center products, DOCSIS 3.1 capable CATV products and other new product development, and de... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to a decrease in duties and freight and partially offset by an increase in miscellaneous tax expenses.
General and administrative expense
General and administrative expense increased by $1.3 milli... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of
% of
Amount
revenue
Amount
revenue
Amount
(in thousands, except percentages)
Interest income
33
0.1
28
0.1
17.9
Interest expense
(2,137
(4.0
)%
(1,401
(2.7
)%
(736
52.5
Oth... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
three months ended March 31, 2023 compared to the three months ended March 31, 2022. The changes are similar to expected rates of fluctuation with the interest rates and cash balances.
Interest exp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in the first quarter of 2023 from the China plant for a local government subsidized income in local city development plan and foreign currency gain arising from favorable exchange rate change.
Bene... |
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