Applied Optoelectronics was founded in 1997 and is headquartered in Sugar Land, US

Founder,President , CEO

VP Sales & Marketing

VP optical Module Devision

VP Semiconductor Products

Applied Optoelectronics has offices in Sugar Land, Ningbo and Linkou District

Sugar Land, US (HQ)

13139 Jess Pirtle Blvd

Linkou District, TW

No.18, Gong 4th Rd., Gong’er Industrial Park, Linkou Dist.

Applied Optoelectronics's revenue was reported to be $96.2 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 96.2 m |

## Gross profit (Q1, 2017) | 41.5 m |

## Gross profit margin (Q1, 2017), % | 43% |

## Net income (Q1, 2017) | 19.8 m |

## EBIT (Q1, 2017) | 24.3 m |

## Market capitalization (15-Aug-2017) | 1.4 b |

## Cash (31-Mar-2017) | 59.7 m |

Applied Optoelectronics's current market capitalization is $1.4 b.

- Source: Company Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 78.4 m | 130.4 m | 189.9 m | 260.7 m |

## Revenue growth, % | 66% | 46% | 37% | |

## Cost of goods sold | 55.4 m | 86.2 m | 129.5 m | 173.8 m |

## Gross profit | 23 m | 44.2 m | 60.5 m | 87 m |

## Gross profit Margin, % | 29% | 34% | 32% | 33% |

## Operating expense total | 23.3 m | 39.1 m | 47 m | 63.9 m |

## EBIT | (307 k) | 5.1 m | 13.4 m | 23 m |

## EBIT margin, % | (0%) | 4% | 7% | 9% |

## Interest expense | 1.1 m | 326 k | 1 m | 1.7 m |

## Interest income | 369 k | 328 k | 247 k | |

## Pre tax profit | (1.4 m) | 4.5 m | 11.2 m | 21 m |

## Income tax expense | (199 k) | (375 k) | 10.2 m | |

## Net Income | (1.4 m) | 4.3 m | 10.8 m | 31.2 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 32.7 m | 36.5 m | 30.2 m | 49.6 m | 57.1 m | 50.4 m | 55.3 m | 70.1 m | 96.2 m |

## Cost of goods sold | 21.5 m | 24.4 m | 20.2 m | 32.9 m | 39 m | 36.2 m | 38 m | 47 m | 54.8 m |

## Gross profit | 11.2 m | 12.1 m | 10.1 m | 16.7 m | 18.1 m | 14.3 m | 17.3 m | 23.2 m | 41.5 m |

## Gross profit Margin, % | 34% | 33% | 33% | 34% | 32% | 28% | 31% | 33% | 43% |

## Sales and marketing expense | 1.5 m | 1.6 m | 1.6 m | 1.6 m | 1.6 m | 1.7 m | 1.6 m | 1.6 m | 1.9 m |

## R&D expense | 4 m | 4.2 m | 4.8 m | 4.7 m | 5.4 m | 8.4 m | 7.8 m | 8.4 m | 7.4 m |

## General and administrative expense | 4 m | 4.5 m | 5 m | 4.5 m | 5 m | 5.7 m | 5.9 m | 6.4 m | 7.8 m |

## Operating expense total | 9.5 m | 10.3 m | 11.4 m | 10.8 m | 11.9 m | 15.8 m | 15.3 m | 16.4 m | 17.2 m |

## EBIT | 1.7 m | 1.9 m | (1.3 m) | 5.9 m | 6.1 m | (1.6 m) | 2 m | 6.8 m | 24.3 m |

## EBIT margin, % | 5% | 5% | (4%) | 12% | 11% | (3%) | 4% | 10% | 25% |

## Interest expense | (60 k) | (55 k) | (125 k) | (300 k) | (351 k) | (401 k) | (450 k) | (462 k) | (299 k) |

## Interest income | 106 k | 95 k | 74 k | 80 k | 82 k | 101 k | 65 k | 40 k | 35 k |

## Pre tax profit | 2 m | 1.7 m | (675 k) | 6.2 m | 3.1 m | (1.5 m) | 655 k | 6.4 m | 23.4 m |

## Income tax expense | (85 k) | (77 k) | (135 k) | (406 k) | 192 k | (52 k) | 11.3 m | (3.7 m) | |

## Net Income | 1.9 m | 1.6 m | (675 k) | 6.1 m | 2.7 m | (1.3 m) | 603 k | 17.7 m | 19.8 m |

- Source: Company Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 22 m | 32.2 m | 28.1 m | 50.2 m |

## Inventories | 19.6 m | 33.8 m | 66.2 m | 51.8 m |

## Current Assets | 77.9 m | 113.2 m | 153.9 m | 157.6 m |

## Total Assets | 111.1 m | 183.7 m | 273.5 m | 322.3 m |

## Accounts Payable | 15 m | 30.8 m | 28.7 m | 36.4 m |

## Current Liabilities | 39.1 m | 48.6 m | 74.1 m | 60 m |

## Total Liabilities | 94.9 m | |||

## Additional Paid-in Capital | 144 m | 192.1 m | 233.3 m | 265.3 m |

## Retained Earnings | (83.3 m) | (79 m) | (68.2 m) | (37 m) |

## Total Equity | 63.1 m | 115 m | 165.4 m | 227.4 m |

## Financial Leverage | 1.8 x | 1.6 x | 1.7 x | 1.4 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 34.1 m | 37 m | 9.9 m | 28.4 m | 37.6 m | 45.5 m | 42.3 m | 55.9 m | 59.7 m |

## Inventories | 31.2 m | 33.1 m | 43.6 m | 52.5 m | 60.2 m | 60.3 m | 59.8 m | 54.9 m | 57.5 m |

## Current Assets | 106.1 m | 110.9 m | 101.1 m | 132.6 m | 160.2 m | 160.5 m | 153.7 m | 164.2 m | 194.2 m |

## PP&E | 41.7 m | 51.3 m | 69.5 m | 79 m | 87.8 m | 123.7 m | 136.8 m | 140.5 m | |

## Total Assets | 153.5 m | 168.2 m | 186.2 m | 222.7 m | 256.9 m | 295.9 m | 301.4 m | 326.8 m | 367.6 m |

## Accounts Payable | 22.6 m | 22.6 m | 25.3 m | 29.8 m | 31.5 m | 25.1 m | 33.1 m | 32.4 m | 48.3 m |

## Current Liabilities | 40.2 m | 39.1 m | 51.8 m | 70.8 m | 65.4 m | 77.8 m | 78.2 m | 72.1 m | 67.6 m |

## Additional Paid-in Capital | 190.9 m | 191.4 m | 192.7 m | 193.5 m | 232.8 m | 234.2 m | 235.3 m | 236.6 m | 288.6 m |

## Retained Earnings | (81.3 m) | (79.7 m) | (79.7 m) | (73.6 m) | (70.9 m) | (69.6 m) | (69 m) | (51.2 m) | (16 m) |

## Total Equity | 111.8 m | 113.8 m | 114.9 m | 121.9 m | 162.9 m | 165.9 m | 167.2 m | 187.5 m | 276.2 m |

## Financial Leverage | 1.4 x | 1.5 x | 1.6 x | 1.8 x | 1.6 x | 1.8 x | 1.8 x | 1.7 x | 1.3 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | (1.4 m) | 4.3 m | 10.8 m | 31.2 m |

## Depreciation and Amortization | 3.4 m | 6.2 m | 9.4 m | 14.2 m |

## Accounts Receivable | (8.5 m) | (9.7 m) | (7.5 m) | |

## Inventories | (7.5 m) | (16 m) | (38 m) | 10.2 m |

## Accounts Payable | 8.1 m | 18.8 m | (1.3 m) | 9.1 m |

## Cash From Operating Activities | (6.6 m) | 7.2 m | (15.2 m) | 57.1 m |

## Cash From Investing Activities | (17.7 m) | (45.4 m) | (61.6 m) | (41.5 m) |

## Cash From Financing Activities | 35.4 m | 47.3 m | 73.1 m | 4.6 m |

## Interest Paid | 1.1 m | 329 k | 1.1 m | 1.7 m |

## Income Taxes Paid | 1 k | 148 k | 650 k | (12 k) |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 1.9 m | 1.6 m | (675 k) | 6.1 m | 2.7 m | (1.3 m) | 603 k | 17.7 m | 19.8 m |

## Depreciation and Amortization | 4.3 m | ||||||||

## Inventories | 31.2 m | 33.1 m | 43.6 m | 52.5 m | 60.2 m | 60.3 m | 59.8 m | 54.9 m | (4.3 m) |

## Accounts Payable | 22.6 m | 22.6 m | 25.3 m | 29.8 m | 31.5 m | 25.1 m | 33.1 m | 32.4 m | 10.2 m |

## Cash From Operating Activities | 9.7 m | ||||||||

## Cash From Investing Activities | (8.9 m) | ||||||||

## Cash From Financing Activities | 7.7 m | ||||||||

## Interest Paid | 225 k |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 34.7 k |

## Financial Leverage | 1.3 x |

Source: 27 public H-1B filings from Applied Optoelectronics