Company: AAOI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025450
Chunk: 46

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 46
---
6 Notes to exchange approximately $76.6 million principal amount of the 2026 Notes for aggregate consideration consisting of (i) $125.0 million aggregate principal amount of the 2030 Notes, (ii) 1,487,874 shares of the Company's common stock, par value $0.001 per share and (iii) approximately $0.9 million of cash in aggregate. Also, refer to Note 12 "Convertible Senior Notes" to the consolidated financial statements for further discussion of the 2030 Notes.

Operating activities

The table below sets forth selected cash flow data for the periods presented (in thousands):

​

      Six months ended June 30, 

      ​ 
      
      2025 

      2024 

      Net cash used in operating activities 
      
     $
     (116,389
     )
      
     $
     (30,470
     )

      Net cash used in investing activities 

     (75,194
     )

     (12,156
     )

      Net cash provided by financing activities 

     195,993

     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