Company: AAOI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025450
Chunk: 69

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 69
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     3,097

      Effect of exchange rates on cash and cash equivalents 

     3,653

     550

      Net increase (decrease) in cash and cash equivalents 
      
     $
     8,063

     $
     (38,979
     )

​​

For the six months ended June 30, 2025, net cash used in operating activities was $116.4 million. Net cash used in operating activities consisted of our net loss of $18.3 million after exclusion of non-cash items of $15.9 million. Cash decreased due to an increase in accounts receivable of $94.7 million and an increase in inventory of $51.0 million, partially offset by an increase in accounts payable of $28.0 million.  

Investing activities

​

For the six months ended June 30, 2025, net cash used in investing activities was $75.2 million, mainly for the purchase of additional property, plant, and equipment.

Financing activities

​

For the six months ended June 30, 2025, net cash provided by financing activities was $196.0 million. This increase was due to the net proceeds of $195.8 million from the ATM Offering and proceed of bank acceptance payable of $12.7 million,  partially offset by tax payments related share-based compensation of $7.8 million.

Loans and commitments

As of June 30, 2025, we do not have a bank loan agreement with any U.S. financial institution. However, we may explore lending opportunities in the U.S. in the future. As of June 30, 2025, we have lending arrangements with two financial institutions in China. As of June 30, 2025, we were in compliance with the covenants in the lending arrangements. As of June 30, 2025, we had $31.2 million of unused borrowing capacity.

On December 5, 2023, we issued $80.2 million of 5.25% convertible senior notes due in 2026. The 2026 Notes mature on December 5, 2026, unless earlier repurchased, redeemed or converted in accordance with their terms. As of June 30, 2025, the outstanding principal amount remaining on the 2026 Notes is $3.5 million.

On December 23,