Company: AAOI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033627
Chunk: 4

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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Applied Optoelectronics, Inc. and Subsidiaries

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, in thousands)

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      September 30,    December 31,  
   2025    2024  
 ASSETS         
 Current assets         
 Cash and cash equivalents  $136,961  $67,428 
 Restricted cash   13,756   11,705 
 Accounts receivable, net   224,028   116,801 
 Inventories, net   170,214   88,135 
 Prepaid expenses and other current assets   30,353   17,199 
 Total current assets   575,312   301,268 
 Property, plant and equipment, net   310,303   219,235 
 Land use rights, net   4,804   4,837 
 Operating right of use assets   42,048   9,646 
 Intangible assets, net   3,640   3,680 
 Other assets, net   42,421   8,366 
 TOTAL ASSETS  $978,528  $547,032 
 LIABILITIES AND STOCKHOLDERS' EQUITY         
 Current liabilities         
 Accounts payable  $150,145  $104,969 
 Bank acceptance payable   34,046   19,259 
 Accrued liabilities   34,135   22,091 
 Current lease liabilities - operating   2,838   1,380 
 Current portion of long-term debt   27,978   22,370 
 Total current liabilities   249,142   170,069 
 Non-current lease liabilities - operating   40,181   9,041 
 Long-term debt   —   4,313 
 Convertible senior notes   130,120   134,497 
 TOTAL LIABILITIES   419,443   317,920 
 Commitments and contingencies (Note 18)           
 Stockholders' equity:         
 Preferred Stock; 5,000 shares authorized at $0.001 par value; no shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively   —   — 
 Common Stock; 120,000 and 80,000 shares authorized at