Applied Optoelectronics, Inc. logo AAOI - Applied Optoelectronics, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 7
HOLD 6
SELL 3
STRONG
SELL
0
| PRICE TARGET: $74.50 DETAILS
HIGH: $160.00
LOW: $43.00
MEDIAN: $47.50
CONSENSUS: $74.50
DOWNSIDE: 58.95%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3
Revenue
Revenue 151.1 134.3 118.6 103.0 99.9 100.3 65.2 43.3 40.7 60.5 62.5 41.6 53.0 61.6 56.7 52.3 52.2 54.4 53.3 54.2 49.7 52.3 76.6 65.2 40.5 48.7 46.1 43.4 52.7 58.0 56.4 87.8 65.2 79.9 88.9 117.4 96.2 84.9 70.1 55.3 50.4 53.0 57.1 49.6 30.2 36.4 36.5 32.6 24.9 23.7 20.8 19.6 14.3 18.9 16.4
Cost of Revenue 107.2 92.3 85.4 71.8 69.3 71.5 49.2 33.7 33.1 38.8 42.4 33.7 43.8 55.4 46.9 43.7 43.2 46.3 45.1 43.4 39.0 41.0 57.4 51.5 34.1 37.3 34.1 32.9 40.4 47.5 38.8 54.0 39.4 47.7 49.5 64.1 54.8 52.7 47.0 38.0 36.2 37.3 39.0 32.9 20.2 24.1 24.4 21.5 16.2 17.1 14.4 14.2 9.7 13.4 11.7
Gross Profit 43.9 41.9 33.3 31.2 30.5 28.7 15.9 9.6 7.6 21.6 20.2 7.9 9.2 6.2 9.7 8.6 9.0 8.1 8.1 10.8 10.7 11.3 19.2 13.7 6.3 11.3 12.0 10.5 12.4 10.5 17.5 33.9 25.8 32.2 39.4 53.3 41.5 32.2 23.2 17.3 14.3 15.6 18.1 16.7 10.1 12.3 12.1 11.2 8.7 6.7 6.3 5.4 4.6 5.4 4.7
Operating Expenses
R&D Expenses 25.7 25.8 21.3 20.6 17.8 16.7 13.4 13.1 11.7 9.3 9.5 8.6 8.5 9.2 9.2 8.3 9.5 9.2 10.1 10.9 10.9 10.8 11.2 10.8 10.6 10.6 10.5 11.2 11.2 11.3 14.2 12.6 11.7 10.7 9.2 8.1 7.4 7.2 8.4 7.8 8.4 6.0 5.4 4.7 4.8 4.2 4.2 4.0 3.5 2.4 2.2 1.9 2.0 2.2 2.1
SG&A Expenses 31.3 27.6 30.2 26.5 21.7 18.5 19.0 22.7 17.5 17.3 17.4 15.2 14.9 15.4 13.8 13.2 13.8 12.5 13.4 13.5 13.8 13.6 14.8 14.0 13.6 12.8 12.5 13.2 13.0 11.5 13.0 12.3 11.9 11.2 12.1 10.9 9.7 9.2 8.0 7.5 7.4 6.9 6.5 6.1 6.6 6.7 6.1 5.4 4.9 4.6 3.5 3.5 3.3 2.9 2.7
Other Expenses 0 0 0 0 0 0 0 0 0 (0.5) 0 0 0 0 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 56.9 53.4 51.5 47.1 39.5 35.2 32.5 35.8 29.2 26.1 26.9 23.9 23.4 24.6 23.2 21.5 23.3 21.7 23.6 24.4 24.8 24.4 26.0 24.8 24.1 23.4 23.0 24.4 24.2 22.8 27.1 24.9 23.7 21.8 21.3 19.0 17.2 16.4 16.4 15.3 15.8 12.9 11.9 10.8 11.4 10.9 10.3 9.5 8.4 7.0 5.7 5.4 5.3 5.1 4.8
Operating Income
Operating Income (13.0) (11.5) (18.2) (16.0) (8.9) (6.5) (16.5) (26.2) (21.6) (4.5) (6.7) (16.0) (14.2) (18.4) (13.5) (12.9) (14.2) (13.6) (15.5) (13.6) (14.0) (13.2) (6.8) (11.1) (17.8) (12.1) (11.0) (13.8) (11.9) (12.3) (9.6) 8.9 2.2 10.3 18.1 34.3 24.3 15.8 6.8 2.0 (1.6) 2.8 6.1 5.9 (1.3) 1.3 1.9 1.7 0.2 (0.3) 0.6 0.0 (0.7) 0.3 (0.2)
Interest Expense 0.9 0.8 0.5 0.8 0.9 1.8 1.7 1.7 1.7 3.1 2.0 2.2 2.1 1.9 1.6 1.4 1.4 1.5 1.4 1.4 1.4 1.2 1.5 1.5 1.5 1.4 1.5 1.5 1.0 0.5 0.3 0.3 0.1 0.1 0.2 0.2 0.3 0.4 0.5 0.5 0.4 0.2 0.4 0.3 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.3 0.3
Interest Income 1.7 0.8 0 0.3 0.2 0.4 0.2 0.1 0.3 0.5 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0
Profitability
EBITDA (3.8) (1.4) (10.1) (1.9) (2.5) (112.6) (10.8) (19.4) (16.5) (5.8) (2.0) (9.6) (8.8) (12.9) (8.3) (7.2) (8.6) (6.9) (8.1) (0.4) (7.7) (5.8) 0.3 (4.0) (11.4) (5.7) (3.2) (7.1) (6.0) (3.8) (1.2) 17.9 8.2 15.5 23.2 39.0 28.0 20.1 10.6 4.4 1.8 5.4 5.9 8.8 1.5 2.6 3.4 3.5 1.5 0.7 1.6 0.8 0.1 1.1 0.7
EBIT (13.0) (9.7) (17.5) (8.3) (8.2) (117.9) (16.1) (24.4) (21.5) (10.7) (7.0) (14.8) (14.2) (18.4) (14.0) (13.0) (14.7) (13.1) (14.4) (6.8) (14.2) (12.2) (5.9) (10.1) (17.4) (11.8) (9.2) (13.1) (12.0) (11.7) (8.8) 8.9 2.2 9.5 17.8 34.4 24.3 15.8 6.9 1.1 (1.1) 2.8 3.5 5.9 (0.6) 0.8 1.7 2.1 0.3 (0.3) 0.7 0.0 (0.7) 0.4 (0.0)
Income Before Tax (13.2) (10.5) (17.9) (9.1) (9.2) (119.7) (17.8) (26.1) (23.2) (13.9) (9.0) (16.9) (16.3) (20.2) (15.6) (14.5) (16.1) (14.5) (15.8) (8.2) (15.6) (13.4) (7.4) (11.6) (18.8) (13.2) (10.7) (14.6) (12.9) (12.2) (9.0) 10.3 1.1 9.4 17.5 34.2 23.4 15.5 6.4 0.7 (1.5) 2.5 3.1 6.2 (0.7) 0.7 1.7 2.0 0.1 (0.5) 0.4 (0.3) (1.0) 0.1 (0.4)
Income Tax Expense 1.0 (8.5) 0 0 0 0.0 0 0 0 0.0 0 0.0 0 0 0 0 0 0.0 0 0 0 0.0 2.2 7.0 (2.0) 22.3 (1.9) (3.2) (2.5) (3.6) (5.3) 2.3 (1.0) 3.7 (1.9) 5.1 3.7 1.2 (11.3) 0.1 (0.2) (0.2) 0.4 0.1 0 0.0 0.1 0.1 0.0 0 0 0 0 0 0
Net Income (14.3) (2.0) (17.9) (9.1) (9.2) (119.7) (17.8) (26.1) (23.2) (13.9) (9.0) (16.9) (16.3) (20.2) (15.6) (14.5) (16.1) (14.5) (15.8) (8.2) (15.6) (13.4) (9.6) (18.6) (16.8) (35.4) (8.8) (11.4) (10.5) (8.6) (3.7) 8.0 2.1 5.7 19.4 29.1 19.8 14.2 17.7 0.6 (1.3) 2.7 2.7 6.1 (0.7) 0.7 1.6 1.9 0.1 (0.5) 0.4 (0.3) (1.0) 0.1 (0.4)
Per Share Data
EPS (Basic) -0.19 -0.03 -0.28 -0.16 -0.18 -2.60 -0.42 -0.66 -0.60 -0.38 -0.27 -0.57 -0.56 -0.71 -0.56 -0.52 -0.58 -0.54 -0.58 -0.31 -0.59 -0.51 -0.42 -0.89 -0.83 -1.76 -0.44 -0.57 -0.53 -0.43 -0.19 0.41 0.11 0.29 1.00 1.52 1.06 0.81 1.03 0.04 -0.08 0.16 0.17 0.41 -0.05 0.05 0.11 0.13 0.01 -0.04 0.04 -0.02 -0.11 0.01 -0.04
EPS (Diluted) -0.19 -0.03 -0.28 -0.16 -0.18 -2.60 -0.42 -0.66 -0.60 -0.38 -0.27 -0.57 -0.56 -0.71 -0.56 -0.52 -0.58 -0.54 -0.58 -0.31 -0.59 -0.51 -0.42 -0.89 -0.83 -1.76 -0.44 -0.57 -0.53 -0.43 -0.19 0.40 0.11 0.28 0.95 1.43 1.00 0.77 0.97 0.03 -0.08 0.15 0.16 0.38 -0.05 0.05 0.10 0.12 0.01 -0.04 0.04 -0.02 -0.11 0.01 -0.04
Shares Outstanding 76.0 70.3 63.3 56.8 50.0 46.1 42.3 39.4 38.4 36.5 32.8 29.5 28.9 28.5 27.8 27.6 27.5 27.2 27.1 26.5 26.4 26.4 22.7 20.9 20.2 20.1 20.0 19.9 19.8 19.8 19.6 19.6 19.5 19.4 19.3 19.1 18.6 17.6 17.2 17.1 16.6 16.8 15.9 14.9 14.8 14.8 14.8 14.8 12.8 12.6 9.0 12.6 8.9 8.9 8.9
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 449.4 216.0 137.0 64.7 51.1 67.4 34.1 10.7 17.4 45.4 21.9 21.6 16.1 24.7 26.3 33.7 32.0 34.7 43.5 44.0 45.5 43.4 46.8 51.1 55.9 60.0 70.0 81.1 74.9 55.6 56.4 76.2 82.3 82.9 70.9 74.8 59.7 50.2 55.9 42.3 45.5
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6.0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.0
Net Receivables 299.0 244.4 224.0 211.5 171.1 116.8 75.2 58.1 57.8 48.3 60.8 43.4 57.9 61.5 52.8 49.4 55.4 56.1 52.4 52.2 49.0 43.4 51.5 50.0 25.8 34.7 29.7 28.5 32.2 30.5 32.0 48.7 53.7 59.9 73.0 73.8 66.8 49.8 44.2 41.5 34.9
Inventory 206.2 183.1 170.2 138.9 102.3 88.1 64.4 54.3 54.3 63.9 67.5 66.3 70.2 79.7 94.3 98.2 92.0 92.5 94.5 100.4 106.3 110.4 111.4 97.3 87.1 85.0 82.1 81.5 84.5 93.3 107.9 93.3 92.6 75.8 74.6 59.7 57.5 51.8 54.9 59.8 60.3
Other Current Assets 38.0 32.2 13.8 43.3 34.3 28.9 14.7 9.9 4.1 15.1 9.3 13.3 17.4 17.3 14.4 13.2 13.8 10.8 10.1 11.6 9.0 11.9 11.5 8.0 7.0 12.9 3.1 8.6 10.3 3.5 2.5 2.4 2.4 9.7 1.1 1.1 0.9 5.7 4.3 4.9 5.0
Total Current Assets 992.6 675.7 575.3 458.3 358.8 301.3 188.4 133.0 133.6 172.6 164.4 144.5 161.5 183.2 187.8 194.4 193.2 194.1 200.6 208.2 209.9 209.2 229.9 213.0 182.7 192.8 190.6 201.0 203.3 194.3 215.2 230.6 241.8 229.7 230.1 218.5 194.2 157.6 164.2 153.7 160.5
Non-Current Assets
Property, Plant & Equipment 491.0 425.7 352.4 291.5 250.7 228.9 209.4 202.0 204.5 205.3 198.8 203.2 212.6 215.8 217.2 230.6 243.4 250.2 249.8 254.4 255.9 260.8 257.6 251.8 251.5 256.3 253.3 255.8 250.9 234.2 222.5 212.1 204.6 197.9 181.5 165.2 150.6 144.1 140.5 136.8 123.7
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 3.6 3.6 8.4 3.6 3.6 8.5 3.7 8.6 8.6 8.7 8.6 8.6 8.9 8.9 8.9 9.3 9.6 9.7 9.7 9.7 9.7 9.9 9.7 9.5 9.5 9.7 9.6 9.8 9.9 9.8 9.8 10.1 10.5 4.8 4.8 4.8 4.8 4.8 4.8 4.8 4.8
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 78.7 63.3 42.4 43.4 31.5 8.4 8.5 4.5 4.2 2.6 2.0 0.5 0.5 0.4 0.4 0.5 0.4 0.5 2.5 0.8 0.9 1.0 0.6 1.7 0.8 0.7 1.0 1.1 2.9 6.8 15.1 6.3 4.8 7.7 7.2 8.5 6.0 4.5 5.4 6.0 6.9
Total Non-Current Assets 573.3 492.7 403.2 338.5 285.8 245.8 221.6 215.1 217.3 216.6 209.4 212.3 222.0 225.1 226.5 240.3 253.5 260.4 262.0 264.9 266.5 271.6 267.9 265.1 270.8 274.0 293.2 294.1 287.9 272.6 265.9 241.6 233.8 223.3 208.6 188.5 173.4 164.8 162.6 147.7 135.4
Total Assets 1,565.9 1,168.4 978.5 796.9 644.7 547.0 410.0 348.0 350.9 389.2 373.8 356.9 383.6 408.3 414.3 434.8 446.8 454.5 462.5 473.1 476.4 480.8 497.8 478.1 453.5 466.8 483.9 495.1 491.2 466.8 481.1 472.2 475.6 453.0 438.7 407.0 367.6 322.3 326.8 301.4 295.9
Current Liabilities
Account Payables 148.2 143.9 150.1 133.0 124.9 105.0 56.0 33.5 23.6 32.9 34.9 35.1 38.4 47.8 52.3 52.5 40.0 34.4 28.3 25.6 26.2 29.5 56.1 51.2 36.2 32.8 28.1 31.5 28.3 29.9 53.7 51.4 46.2 43.6 51.0 53.3 48.3 36.4 32.4 33.1 25.1
Short-Term Debt 44.2 37.5 62.0 54.3 44.3 41.6 39.4 27.6 34.8 39.0 125.8 125.8 149.8 69.4 65.1 63.8 62.2 57.9 47.7 48.3 57.1 54.1 57.7 52.1 47.6 39.7 19.9 21.7 23.4 28.2 8.3 3.2 2.7 0.6 3.6 4.6 4.7 8.2 28.3 31.3 43.4
Deferred Revenue 0 0 0 0.3 0 0 1.4 1.6 1.7 1.8 10.1 10.9 3.0 3 0.5 0.6 0.4 0.2 0.5 0.3 0.6 0.3 0.4 0.5 0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.5 0.4 0.4 0.3 0.5 0.4 0.3 0.4 1.8 1.7
Other Current Liabilities 67.1 75.9 0 6.5 19.6 4.2 19.1 2.7 3.6 2.4 3.5 3.5 2.4 3.5 3.6 4.0 2.8 4.4 3.7 4.0 2.9 3.7 4.9 5.3 2.2 3.8 4.1 4.5 2.6 2.9 6.8 2.0 0.9 2.0 4.9 4.8 4.0 1.9 1.0 5.6 2.4
Total Current Liabilities 259.4 257.3 249.1 216.8 191.0 170.1 117.1 80.9 74.6 93.4 188.2 187.5 205.6 138.6 130.9 129.8 116.5 109.0 93.3 90.5 98.4 103.1 132.3 119.8 95.5 91.4 64.4 68.1 65.2 77.4 82.7 71.7 69.9 70.7 76.9 76.7 67.6 60.0 72.1 78.2 77.8
Non-Current Liabilities
Long-Term Debt 129.5 129.8 130.1 133.9 136.0 138.8 77.1 76.7 76.3 76.2 0 0 0 79.5 79.3 79.1 83.9 83.7 97.7 97.6 91.7 91.8 92.2 93.0 92.5 93.6 109.2 107.1 94.0 60.3 62.9 57.9 62.5 49 37.4 22.8 23.9 35.0 67.2 56.0 52.2
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 71.0 47.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Non-Current Liabilities 200.5 177.2 170.3 155.0 144.6 147.9 80.8 80.6 80.6 81.0 7.2 6.1 5.3 85.0 84.9 85.3 90.6 90.9 105.2 105.4 99.5 99.8 100.3 100.9 100.5 101.7 117.2 115.3 102.4 60.3 62.9 57.9 62.5 49 37.4 22.8 23.9 35.0 67.2 56.0 52.2
Total Liabilities 459.9 434.5 419.4 371.9 335.7 317.9 197.9 161.5 155.2 174.3 195.4 193.6 210.9 223.6 215.8 215.2 207.2 199.9 198.6 195.9 197.9 202.9 232.6 220.6 196.0 193.0 181.6 183.4 167.6 137.7 145.6 129.6 132.3 119.7 114.3 99.5 91.5 94.9 139.3 134.2 130.0
Stockholders' Equity
Common Stock 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings (504.4) (490.1) (488.1) (470.1) (461.0) (451.9) (332.2) (314.4) (288.3) (265.1) (251.3) (242.3) (225.4) (209.1) (188.8) (173.2) (158.7) (142.7) (128.1) (112.3) (104.1) (88.5) (75.1) (65.5) (46.9) (30.1) 5.4 14.2 25.5 36.0 44.6 48.3 40.3 38.1 32.4 13.0 (16.0) (37.0) (51.2) (69.0) (69.6)
Accumulated Other Comprehensive Income (0.2) (0.6) 1.1 1.1 (2.8) (2.5) 0.7 (1.5) (0.7) 1.0 (2.2) (1.5) 3.8 2.2 (1.0) 7.2 14.8 16.1 13.9 14.3 10.7 11.7 5.2 (0.5) (2.0) 0.4 (3.8) (0.4) 3.0 0.6 0.8 5.6 16.1 9.7 6.4 4.4 3.6 (0.9) 2.1 0.8 1.2
Total Stockholders' Equity 1,106.0 733.9 559.1 425.0 309.0 229.1 212.1 186.5 195.7 214.9 178.4 163.3 172.6 184.7 198.5 219.6 239.6 254.6 264.0 277.3 278.5 277.9 265.2 257.5 257.5 273.8 302.3 311.7 323.6 329.1 335.5 342.6 343.3 333.3 324.4 307.5 276.2 227.4 187.5 167.2 165.9
Total Liabilities & Equity 1,565.9 1,168.4 978.5 796.9 644.7 547.0 410.0 348.0 350.9 389.2 373.8 356.9 383.6 408.3 414.3 434.8 446.8 454.5 462.5 473.1 476.4 480.8 497.8 478.1 453.5 466.8 483.9 495.1 491.2 466.8 481.1 472.2 475.6 453.0 438.7 407.0 367.6 322.3 326.8 301.4 295.9
Debt Metrics
Total Debt 173.7 167.3 235.2 211.2 190.3 190.9 121.3 109.2 116.5 121.1 131.7 132.1 156.2 155.5 151.1 150.2 153.9 149.9 154.0 154.8 157.7 154.9 159.0 153.9 149.1 142.3 138.0 137.9 126.8 88.5 71.2 61.0 65.2 49.6 41.0 27.4 28.6 43.1 95.5 87.3 95.6
Net Debt (275.7) (48.7) 98.2 146.5 139.2 123.4 87.2 98.6 99.1 75.7 109.8 110.5 140.1 130.8 124.8 116.6 121.9 115.2 110.5 110.7 112.2 111.5 112.2 102.8 93.2 82.4 68.0 56.8 51.9 32.9 14.8 (15.2) (17.1) (33.4) (29.9) (47.5) (31.1) (7.1) 39.6 45.0 50.0
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income (14.3) 36.2 (17.9) (9.1) (9.2) (119.7) (17.8) (26.1) (23.2) (13.9) (9.0) (16.9) (16.3) (20.2) (15.6) (14.5) (16.1) (14.5) (15.8) (8.2) (15.6) (13.4) (9.6) (18.6) (16.8) (35.4) (8.8) (11.4) (10.5) (8.6) (3.7) 8.0 2.1 5.7 19.4 29.1 19.8 14.2 17.7 0.6 (1.3)
Depreciation & Amortization 9.2 (19.5) 6.6 6.4 5.7 5.4 5.2 5.1 5.0 4.9 5.0 5.2 5.3 5.5 5.7 5.9 6.1 6.2 6.3 6.4 6.4 6.4 6.2 6.1 6.0 6.0 6.0 6.0 5.9 7.9 7.5 7.3 7.0 6.0 5.4 4.6 4.3 4.3 3.7 3.3 3.0
Stock-Based Compensation 4.4 (8.8) (17.2) 3.2 2.6 2.9 2.9 6.1 2.8 3.3 3.2 3.1 2.3 2.4 2.6 2.1 2.5 3.2 3.1 3.3 2.5 3.2 3.3 3.3 3.2 2.9 3.0 3.0 2.9 2.8 2.9 2.9 2.6 1.9 2.1 2.3 1.5 1.0 1.0 1.0 0.8
Change in Working Capital (90.1) (33.7) (28.2) (62.1) (51.9) (25.6) (4.2) 9.5 (15.5) 5.2 (17.9) 21.3 (2.6) 8.1 (4.6) 7.7 0.7 4.5 8.2 3.8 (10.6) (10.3) (8.7) (14.8) (0.6) 0.7 (5.6) 9.5 1.8 (12.2) 2.4 2.2 (14.8) 9.5 (14.8) 2.2 (16.9) 5.3 (1.1) 6.4 5.7
Other Non-Cash Items 4.4 (3.7) 28.2 (3.9) 1.9 112.4 (0.7) 3.5 2.3 2.0 3.3 2.6 1.8 0.8 2.7 0.9 3.2 0.4 1.7 (5.0) 2.0 0.0 0.5 1.4 1.8 0.4 1.6 3.2 2.3 1.7 3.9 0.9 0.2 1.2 0.6 0.0 0.4 3.5 (15.1) 1.9 0.7
Operating Cash Flow (85.4) (29.6) (28.5) (65.5) (50.9) (24.6) (14.4) (2.0) (28.5) 1.6 (15.3) 15.3 (9.4) (3.5) (9.2) 2.3 (3.6) (0.3) 3.5 0.3 (15.2) (14.1) (6.1) (15.5) (8.2) (3.2) (5.8) 7.1 0.0 (11.6) 7.5 22.1 (4.1) 26.8 7.6 40.2 9.7 28.7 6.2 13.2 8.9
Investing Activities
Capital Expenditure (58.2) 104.0 (50.4) (25.5) (28.5) (28.5) (6.1) (3.1) (5.9) (9.6) (3.3) (1.1) (0.8) (0.9) (1.2) (1.0) (1.2) (2.6) (4.0) (1.6) (2.4) (4.3) (6.0) (6.0) (3.3) (5.1) (6.2) (11.8) (9.0) (11.5) (30.5) (23.0) (12.3) (21.0) (18.5) (21.7) (9.1) (9.2) (6.7) (17.7) (16.4)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 (0.0)
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (9) 9 0 0.0 0 0.0 0 0.0 0.0 0 0 0
Other Investing Activities (9.9) (189.0) (0.1) (13.4) (7.9) (0.9) (3.0) (1.1) (2.3) (3.4) (1.8) (0.4) (0.0) 0.1 (0.4) (0.3) (0.0) (0.2) (2.0) (0.1) (0.2) (0.6) (0.5) (2.0) (0.4) (2.3) (6.5) 1.7 3.8 23.1 (23.4) (1.8) (2.6) (0.6) 1.3 (2.5) (1.4) (0.5) 1.1 8.8 (1.4)
Investing Cash Flow (68.1) (84.9) (50.5) (38.9) (36.3) (29.3) (9.3) (4.1) (8.1) (9.6) (3.2) (1.1) (0.8) (0.6) (1.2) (1.0) (1.1) (2.6) (4.0) (1.5) (2.4) (4.3) (5.9) (6.0) (3.2) (5.1) (6.2) (11.8) (9.0) (5.5) (35.8) (23) (12.2) (21.0) (18.5) (21.7) (8.9) (9.6) (5.5) (8.7) (17.7)
Financing Activities
Net Debt Issuance 8.6 4.6 6.8 8.0 0.0 3.2 11.2 (7.2) (4.2) (5.1) (0.5) (22.7) 0.8 4.3 3.5 (1.6) 3.9 (4.6) (0.6) 2.3 2.7 (5.9) 3.5 4.4 7.2 3.2 0.4 11.6 (48.1) 17.2 10.1 (4.1) 15.6 8.5 13.6 (1.2) (15.1) (52.1) 7.3 (8.2) 26.6
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (1.7) (1.3) (1.4) (6.1) (1.7) (1.3) (0.4) (4.5) (1.0) (0.3) (0.5) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.3) (0.3) (0.1) (0.2) (0.2) (0.3) (0.2) (0.3) (0.2) (0.2) (0.2) 76.1 (0.3) (1.5) (1.1) (1.0) (2.2) (6.5) (0.8) 0.3 30.2 0.5 0.1 (0.2)
Financing Cash Flow 389.3 179.7 152.3 126.0 70.0 89.7 49.4 4.5 (1.4) 31.3 21.1 (12.9) 1.1 5.2 3.6 (1.7) 3.7 (4.9) (0.9) 2.4 17.5 10.5 11.9 18.2 6.9 3.0 0.2 11.3 28.0 16.9 8.6 (5.3) 14.6 6.4 6.3 (2.1) 7.7 (21.9) 8.2 (8.1) 26.5
Cash Position
Net Change in Cash 233.3 65.3 63.5 20.4 (12.3) 37.8 25.2 (1.3) (37.7) 23.9 2.6 1.7 (8.6) 1.0 (6.1) 0.5 (1.0) (7.8) (1.6) 1.2 (0.8) (8.0) (0.8) (3.6) (4.5) (5.3) (11.6) 6.5 19.5 (0.1) (19.9) (5.4) (0.6) 11.9 (2.8) 15.2 9.4 (5.7) 13.6 (3.2) 17.5
Cash at Beginning 216.0 150.7 87.2 66.8 79.1 41.4 16.1 17.4 55.1 31.2 28.6 26.9 35.6 34.6 40.6 40.1 41.1 48.9 50.5 49.3 50.1 58.1 58.9 62.5 67.0 72.4 84.0 77.5 58.0 58.1 77.9 83.3 83.9 72.0 74.8 59.7 50.2 55.9 42.3 45.5 28.1
Cash at End 449.4 216.0 150.7 87.2 66.8 79.1 41.4 16.1 17.4 55.1 31.2 28.6 26.9 35.6 34.6 40.6 40.1 41.1 48.9 50.5 49.3 50.1 58.1 58.9 62.5 67.0 72.4 84.0 77.5 58.0 58.1 77.9 83.3 83.9 72.0 74.8 59.7 50.2 55.9 42.3 45.5
Free Cash Flow (143.6) 74.5 (78.8) (91.0) (79.4) (53.1) (20.5) (5.1) (34.4) (8.1) (18.7) 14.1 (10.2) (4.4) (10.4) 1.3 (4.8) (2.9) (0.5) (1.3) (17.6) (18.4) (12.1) (21.5) (11.5) (8.3) (11.9) (4.7) (9.0) (23.1) (22.9) (0.9) (16.3) 5.8 (10.9) 18.5 0.6 19.5 (0.5) (4.4) (7.5)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3
Income Statement
Revenue 151.1 134.3 118.6 103.0 99.9 100.3 65.2 43.3 40.7 60.5 62.5 41.6 53.0 61.6 56.7 52.3 52.2 54.4 53.3 54.2 49.7 52.3 76.6 65.2 40.5 48.7 46.1 43.4 52.7 58.0 56.4 87.8 65.2 79.9 88.9 117.4 96.2 84.9 70.1 55.3 50.4 53.0 57.1 49.6 30.2 36.4 36.5 32.6 24.9 23.7 20.8 19.6 14.3 18.9 16.4
Gross Profit 43.9 41.9 33.3 31.2 30.5 28.7 15.9 9.6 7.6 21.6 20.2 7.9 9.2 6.2 9.7 8.6 9.0 8.1 8.1 10.8 10.7 11.3 19.2 13.7 6.3 11.3 12.0 10.5 12.4 10.5 17.5 33.9 25.8 32.2 39.4 53.3 41.5 32.2 23.2 17.3 14.3 15.6 18.1 16.7 10.1 12.3 12.1 11.2 8.7 6.7 6.3 5.4 4.6 5.4 4.7
Operating Income (13.0) (11.5) (18.2) (16.0) (8.9) (6.5) (16.5) (26.2) (21.6) (4.5) (6.7) (16.0) (14.2) (18.4) (13.5) (12.9) (14.2) (13.6) (15.5) (13.6) (14.0) (13.2) (6.8) (11.1) (17.8) (12.1) (11.0) (13.8) (11.9) (12.3) (9.6) 8.9 2.2 10.3 18.1 34.3 24.3 15.8 6.8 2.0 (1.6) 2.8 6.1 5.9 (1.3) 1.3 1.9 1.7 0.2 (0.3) 0.6 0.0 (0.7) 0.3 (0.2)
Net Income (14.3) (2.0) (17.9) (9.1) (9.2) (119.7) (17.8) (26.1) (23.2) (13.9) (9.0) (16.9) (16.3) (20.2) (15.6) (14.5) (16.1) (14.5) (15.8) (8.2) (15.6) (13.4) (9.6) (18.6) (16.8) (35.4) (8.8) (11.4) (10.5) (8.6) (3.7) 8.0 2.1 5.7 19.4 29.1 19.8 14.2 17.7 0.6 (1.3) 2.7 2.7 6.1 (0.7) 0.7 1.6 1.9 0.1 (0.5) 0.4 (0.3) (1.0) 0.1 (0.4)
EPS (Diluted) -0.19 -0.03 -0.28 -0.16 -0.18 -2.60 -0.42 -0.66 -0.60 -0.38 -0.27 -0.57 -0.56 -0.71 -0.56 -0.52 -0.58 -0.54 -0.58 -0.31 -0.59 -0.51 -0.42 -0.89 -0.83 -1.76 -0.44 -0.57 -0.53 -0.43 -0.19 0.40 0.11 0.28 0.95 1.43 1.00 0.77 0.97 0.03 -0.08 0.15 0.16 0.38 -0.05 0.05 0.10 0.12 0.01 -0.04 0.04 -0.02 -0.11 0.01 -0.04
Balance Sheet
Cash & Equivalents 449.4 216.0 137.0 64.7 51.1 67.4 34.1 10.7 17.4 45.4 21.9 21.6 16.1 24.7 26.3 33.7 32.0 34.7 43.5 44.0 45.5 43.4 46.8 51.1 55.9 60.0 70.0 81.1 74.9 55.6 56.4 76.2 82.3 82.9 70.9 74.8 59.7 50.2 55.9 42.3 45.5
Total Assets 1,565.9 1,168.4 978.5 796.9 644.7 547.0 410.0 348.0 350.9 389.2 373.8 356.9 383.6 408.3 414.3 434.8 446.8 454.5 462.5 473.1 476.4 480.8 497.8 478.1 453.5 466.8 483.9 495.1 491.2 466.8 481.1 472.2 475.6 453.0 438.7 407.0 367.6 322.3 326.8 301.4 295.9
Total Debt 173.7 167.3 235.2 211.2 190.3 190.9 121.3 109.2 116.5 121.1 131.7 132.1 156.2 155.5 151.1 150.2 153.9 149.9 154.0 154.8 157.7 154.9 159.0 153.9 149.1 142.3 138.0 137.9 126.8 88.5 71.2 61.0 65.2 49.6 41.0 27.4 28.6 43.1 95.5 87.3 95.6
Stockholders' Equity 1,106.0 733.9 559.1 425.0 309.0 229.1 212.1 186.5 195.7 214.9 178.4 163.3 172.6 184.7 198.5 219.6 239.6 254.6 264.0 277.3 278.5 277.9 265.2 257.5 257.5 273.8 302.3 311.7 323.6 329.1 335.5 342.6 343.3 333.3 324.4 307.5 276.2 227.4 187.5 167.2 165.9
Cash Flow
Operating Cash Flow (85.4) (29.6) (28.5) (65.5) (50.9) (24.6) (14.4) (2.0) (28.5) 1.6 (15.3) 15.3 (9.4) (3.5) (9.2) 2.3 (3.6) (0.3) 3.5 0.3 (15.2) (14.1) (6.1) (15.5) (8.2) (3.2) (5.8) 7.1 0.0 (11.6) 7.5 22.1 (4.1) 26.8 7.6 40.2 9.7 28.7 6.2 13.2 8.9
Capital Expenditure (58.2) 104.0 (50.4) (25.5) (28.5) (28.5) (6.1) (3.1) (5.9) (9.6) (3.3) (1.1) (0.8) (0.9) (1.2) (1.0) (1.2) (2.6) (4.0) (1.6) (2.4) (4.3) (6.0) (6.0) (3.3) (5.1) (6.2) (11.8) (9.0) (11.5) (30.5) (23.0) (12.3) (21.0) (18.5) (21.7) (9.1) (9.2) (6.7) (17.7) (16.4)
Free Cash Flow (143.6) 74.5 (78.8) (91.0) (79.4) (53.1) (20.5) (5.1) (34.4) (8.1) (18.7) 14.1 (10.2) (4.4) (10.4) 1.3 (4.8) (2.9) (0.5) (1.3) (17.6) (18.4) (12.1) (21.5) (11.5) (8.3) (11.9) (4.7) (9.0) (23.1) (22.9) (0.9) (16.3) 5.8 (10.9) 18.5 0.6 19.5 (0.5) (4.4) (7.5)