Applied optoelectronics, inc. (AAOI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Operating activities:
Net income (loss)

-16,797

-35,429

-8,780

-11,366

-10,474

-8,568

-3,732

8,034

2,120

5,716

19,375

29,071

19,789

14,225

17,736

603

-1,330

2,679

2,700

6,089

-675

702

1,577

1,919

85

-521

391

-282

-994

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for losses on accounts receivable

35

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lower of cost or market reserve adjustment to inventory

1,600

200

1,400

2,900

2,300

1,700

3,100

1,523

877

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lower of cost or market reserve adjustment to inventory

-

-

-

-

-

-

-

-

-

-

690

199

476

-

1,005

1,387

407

655

926

686

565

-241

414

496

272

-58

128

285

137

Depreciation and amortization

6,031

6,032

6,018

6,016

5,948

7,891

7,516

7,327

6,964

6,049

5,403

4,627

4,302

4,262

3,685

3,284

2,957

-

-

2,279

2,034

1,820

1,679

1,431

1,239

971

877

789

770

Amortization of debt issuance costs

220

219

216

214

243

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes, net

-1,877

-

-

-

-2,474

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes, net

-

-

-

-

-

-

5,353

-722

1,103

-

5,133

-2,026

-612

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of assets

0

-

-

-

-9

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on disposal of assets

-

-

-

-

-

-

0

4

1

-

-11

9

-49

-

-4

-81

-4

-65

-3

0

-10

14

-27

0

1

-1

1

0

-1

Share-based compensation

3,238

2,865

2,978

3,019

2,942

2,758

2,894

2,899

2,569

1,946

2,082

2,260

1,507

1,003

1,047

975

808

553

518

533

516

567

487

518

489

694

135

129

111

Unrealized foreign exchange gain

-

-

-

-

-

-

-674

544

710

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized foreign exchange gain

103

-

-

-

249

-

-

-

-

-638

54

144

110

-2,572

2,742

453

314

-4,655

3,033

-805

-35

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, trade

-8,836

5,180

1,303

-3,717

1,589

-1,494

-16,640

-4,987

-6,195

-13,181

-731

7,393

16,599

5,735

2,614

6,743

-3,945

-2,236

8,533

2,877

-1,643

7,532

-658

1,000

1,829

5,011

3,031

2,708

-2,293

Notes receivable

0

-

-134

58

79

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

977

-463

463

0

-

-

-

-1,027

Prepaid income tax

151

-535

-553

-97

224

423

128

-672

-109

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bank acceptance receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-654

-326

-

-

-

-

-

-

-

-

Inventories

4,533

1,637

3,149

958

-7,304

-12,885

19,674

5,853

15,761

763

14,756

2,063

4,294

-784

-4,680

1,467

-6,210

6,924

11,298

9,139

10,141

1,089

2,656

7,538

4,822

3,131

361

3,976

52

Other current assets

1,085

63

2

-1,909

-3,670

926

524

-381

1,870

-1,796

1,217

-273

5,118

-669

-339

-1,696

-1,415

-1,449

2,165

144

1,764

-1,659

1,392

966

46

2,772

1,306

-323

867

Operating right of use asset

63

-

-

-

245

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

3,408

4,986

-3,451

3,194

-1,579

-23,796

2,277

5,206

2,599

-7,369

-2,863

7,240

10,241

5,219

-976

8,446

-3,584

-2,915

2,965

4,434

-5,742

9,810

-200

5,039

4,298

3,729

-1,949

6,552

-253

Accrued income taxes

-

-

-

-

-

-

-

-

-

1,844

490

828

3,042

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued liabilities

-7,117

2,097

1,638

1,655

-5,698

7,944

-464

-874

-6,052

2,125

2,855

3,293

-4,221

3,551

-2,720

4,514

-2,238

1,551

3,118

698

-570

1,872

-610

1,503

-406

964

1,155

103

-853

Lease liability

-62

-

-

-

-242

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

-8,246

-3,165

-5,756

7,127

40

-11,596

7,546

22,143

-4,064

26,786

7,614

40,208

9,676

28,736

6,231

13,229

8,908

2,526

-6,313

2,408

-13,833

7,865

447

939

-721

-3,736

-3,962

188

1,320

Investing activities:
Purchase of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35

26

25

93

31

193

0

53

0

-

-

-

-

Maturities of short-term investments

-

-

-

-

-

-9,000

9,000

0

36

0

6

0

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in restricted cash for construction in progress

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,136

-3,904

8,993

-

0

0

0

-

-

-

-

Purchase of property, plant and equipment

2,787

2,807

-304

13,474

12,812

19,586

21,373

21,236

9,659

20,439

19,842

19,133

7,554

9,109

6,565

17,553

16,215

25,148

14,553

11,046

6,333

16,356

11,672

18,748

-5,647

14,297

-1,717

-2,177

-803

Purchase of land use rights

-

-

-

-

-

0

0

0

5,591

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposal of equipment

52

-1

1

0

1

-

-

-

-

0

1

5

165

-1,292

551

299

456

273

33

45

0

2

33

0

12

0

0

0

0

Deposits and prepaid for equipment

353

2,168

6,283

-1,832

-3,931

-8,207

8,977

1,684

-3,128

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits and prepaid for equipment

-

-

-

-

-

-

-

-

-

-

-1,469

2,404

1,434

-

-1,522

-843

1,706

-

-

-

956

-314

221

805

8

6

-512

424

125

Purchase of intangible assets

112

143

181

161

155

133

118

91

134

92

156

143

108

107

157

115

168

147

126

111

94

103

84

88

3,065

40

16

49

18

Net cash used in investing activities

-3,200

-5,119

-6,159

-11,803

-9,035

-5,489

-35,805

-23,000

-12,220

-21,033

-18,522

-21,675

-8,929

-9,629

-5,496

-8,742

-17,668

-25,963

-12,487

-6,763

-16,407

-16,336

-11,944

-8,400

-8,708

-12,919

-1,221

-2,650

-946

Financing activities:
Proceeds from issuance of notes payable and long-term debt, net of debt issuance costs

0

-

-

-

6,488

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments of long-term debt and notes payable

1,108

-

-

-

40,132

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of notes payable and long-term debt, net of debt issuance costs

-

-

-

-

-

-

9,343

0

26,556

-

-

-

-

-

3,994

4,553

20,311

8,587

0

8,357

0

5,000

0

0

3,150

0

2,851

0

0

Principal payments of long-term debt and notes payable

-

-

-

-

-

-

790

752

341

-

22,389

1,168

14,743

1,860

1,795

1,333

867

686

857

776

94

0

0

8,050

26

93

64

64

64

Proceeds from line of credit borrowings

24,916

24,138

20,823

27,614

10,859

41,812

33,313

35,000

44,953

-

-

-

-

1,374

43,817

40,832

31,149

44,463

27,917

46,915

25,091

23,364

19,531

4,975

5,788

7,033

2,930

5,244

7,985

Repayments of line of credit borrowings

20,000

22,000

24,088

16,464

25,747

39,891

31,725

38,370

55,583

-

-

-

-

48,526

39,299

52,129

23,114

36,659

36,872

31,602

16,253

22,809

5,620

7,350

14,954

7,602

2,388

1,936

11,082

Proceeds from bank acceptance payable

7,195

5,424

3,743

2,089

2,382

-

-

-

-

-

-

-

-

0

2,349

2,090

1,411

2,577

2,275

2,138

1,267

588

1,511

1,519

2,307

2,032

2,013

1,169

1,564

Repayments of bank acceptance payable

3,798

3,270

2,107

4,658

1,917

-

-

-

-

2

0

0

307

2,867

1,536

1,988

2,007

2,638

1,707

930

1,086

1,441

1,772

1,833

1,940

2,744

1,592

741

949

Proceeds from issuance of convertible senior notes, net of debt issuance costs

-13

-

-

-

76,378

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments of financing lease

4

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

250

250

250

250

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

250

-

-250

0

250

-

-

-

-

Decrease (increase) in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31

240

-

1,133

1,438

537

-287

-143

91

73

-262

-60

308

263

Exercise of stock options

0

6

1

0

7

0

67

1

52

61

98

678

623

379

261

134

85

22

103

250

77

55

91

112

107

86

37

22

28

Payments of tax withholding on behalf of employees related to share-based compensation

259

195

176

227

299

349

1,576

1,151

1,061

2,231

6,647

1,477

366

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

186

194

114

Proceeds from common stock offering, net

-75

-

-

-

0

-

-

-

-

0

0

0

21,572

-

-

-

-

-

-

-

-

51

0

-41

45,671

-

-

-

-

Net cash provided by financing activities

6,854

3,010

249

11,318

28,019

16,867

8,632

-5,272

14,576

6,370

7,062

-1,967

6,779

-24,513

7,812

-8,122

26,478

18,486

28,168

22,664

8,215

4,095

14,134

-10,759

39,780

31,673

2,782

3,580

-2,667

Effect of exchange rate changes on cash

81

-

-

-

431

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash

-

-

-

-

-

-

-241

773

1,059

-

-31

-1,220

1,043

-2,822

4,637

396

-264

-357

-188

194

-241

-483

318

-112

54

-337

-42

73

147

Net increase (decrease) in cash, cash equivalents and restricted cash

-4,511

-5,348

-11,611

6,528

19,455

-71

-19,868

-5,356

-649

11,946

-3,877

15,346

8,569

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,239

17,454

-

9,180

18,503

-22,266

-4,859

2,955

-18,332

30,405

14,681

-2,443

1,191

-2,146

Supplemental disclosure of cash flow information:
Interest, net of amounts capitalized

2,237

239

2,435

77

421

323

270

197

58

142

191

314

225

412

834

57

386

227

381

359

103

23

52

90

164

281

274

288

290

Income taxes

-21

-561

-553

0

224

-

-

-

-

-

-

-

-

-

-

-

-

533

0

42

75

0

77

45

26

-1

1

1

0

Non-cash investing and financing activities:
Net change in accounts payable related to property and equipment additions

75

757

-5,403

2,945

-2,168

-2,675

1,310

1,352

-1,138

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in deposits and prepaid for equipment related to property and equipment additions

304

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of intangible assets with notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,000

-

-

-

-