Company: AAOI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025450
Chunk: 16

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 ​    ​    ​    ​  
 Basic  $(0.16) $(0.66) $(0.34) $(1.27)
 Diluted  $(0.16) $(0.66) $(0.34) $(1.27)

   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 June 30,    Six months ended June 30,  
 ​   2025    2024    2025    2024  
 Restricted stock units   2,143   2,455   2,435   2,813 
 Shares for convertible senior notes   3,116   5,264   3,116   5,264 
 Total antidilutive shares   5,259   7,719   5,551   8,077 

   ​​

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

     ​   June 30, 2025    December 31, 2024  
 Raw materials  $77,116  $50,379 
 Work in process and sub-assemblies   61,205   35,716 
 Finished goods   18,927   17,291 
 Allowance for inventory   (18,381)  (15,251)
 Total inventories  $138,867  $88,135 

   For the three months ended  June 30, 2025 and 2024, the inventory reserve adjustment expensed for inventory was $1.9 million and $1.4 million, respectively. For six months ended  June 30, 2025 and 2024, the inventory reserve adjustment expensed for inventory was $3.7 million and $3.1 million, respectively.
    
   For the three months ended  June 30, 2025 and 2024, the direct inventory write-offs related to scrap, discontinued products and damaged inventories were $0.9 million and $0.8 million, respectively. For the six months ended  June 30, 2025 and 2024, the