Company: AAOI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033627
Chunk: 119

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 119
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 ten customers represented 97% and 96% of our revenue, respectively. For the nine months ended  September 30, 2025 and 2024, our top ten customers represented 97% and 94% of our revenue, respectively. 
    
   The fair value of convertible senior notes is measured for disclosure purposes only. The fair value and carrying amount of our convertible senior notes as of  September 30, 2025 were $134.8 million and $130.1 million, respectively. As of  December 31, 2024, the fair value and carrying amount of our convertible senior notes was $148.6 million and $134.5 million, respectively. The fair value is based on observable market prices for this debt, which is traded in less active markets and is therefore classified as a Level 2 fair value measurement.

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   Note 11.  Notes Payable and Long-Term Debt
   ​
   Notes payable and long-term debt consisted of the following for the periods indicated (in thousands):
   ​
   
       September 30, 2025    December 31, 2024  
 Revolving line of credit with a China bank up to $24.3 million with interest between 4.00% and 4.35%, terminated on June 18, 2025  $-  $13,466 
 Revolving line of credit with a China bank up to $35.2 million with interest at 2.6%, maturing July 29, 2030   14,355   - 
 Credit facility with a China bank up to $28.5 million with interest between 3.10% and 4.35%, terminated on July 23, 2025   -   13,216 
 Revolving line of credit with a China bank up to $22.9 million with interest at 2.95%, maturing June 26, 2030   13,623   - 
 Total   27,978   26,682 
 Less current portion   (27,978)  (26,682)
 Non-current portion  $-  $- 

     Bank Acceptance Notes Payable  September 30, 2025  December 31, 2024 
 Bank acceptance notes issued to vendors with zero handling fees  $34,046  $