Company: AAOI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015518
Chunk: 13

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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:   ​    ​  
 Weighted average shares used to compute net loss per share   ​    ​  
 Basic   50,041   38,362 
 Diluted   50,041   38,362 
 Net loss per share   ​    ​  
 Basic  $(0.18) $(0.60)
 Diluted  $(0.18) $(0.60)

   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,  
 ​   2025    2024  
 Restricted stock units   2,796   3,128 
 Shares for convertible senior notes   3,116   5,264 
 Total antidilutive shares   5,912   8,392 

   ​​

   Note 7.  Inventories
   ​
   Inventories, net of inventory write-downs, consist of the following for the periods indicated (in thousands):​

     ​   March 31, 2025    December 31, 2024  
 Raw materials  $58,287  $50,379 
 Work in process and sub-assemblies   45,921   35,716 
 Finished goods   14,701   17,291 
 Allowance for inventory   (16,596)  (15,251)
 Total inventories  $102,313  $88,135 

   For the three months ended  March 31, 2025 and 2024, the inventory reserve adjustment expensed for inventory was $1.9 million and $1.6 million, respectively.
    
   For the three months ended  March 31, 2025 and 2024, the direct inventory write-offs related to scrap, discontinued products and damaged inventories were both $0.9 million. 
       ​ 

       11

   Note 8.  Property, Plant & Equipment
   ​
   Property, plant and equipment consisted of the following for the periods indicated (in thousands):
   ​
   
     ​   March 31, 2025    December 31, 2024  
 Land improvements  $806  $806 
 Buildings and improvements   120,088   118,