Applied optoelectronics, inc. (AAOI)
CashFlow / TTM
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)

-72,372

-66,049

-39,188

-34,140

-14,740

-2,146

12,138

35,245

56,282

73,951

82,460

80,821

52,353

31,234

19,688

4,652

10,138

10,793

8,816

7,693

3,523

4,283

3,060

1,874

-327

-1,406

0

0

0

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lower of cost or market reserve adjustment to inventory

6,100

6,800

8,300

10,000

8,623

7,200

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lower of cost or market reserve adjustment to inventory

-

-

-

-

-

-

-

-

-

-

0

0

3,776

-

3,454

3,375

2,674

2,832

1,936

1,424

1,234

941

1,124

838

627

492

0

0

0

Depreciation and amortization

24,097

24,014

25,873

27,371

28,682

29,698

27,856

25,743

23,043

20,381

18,594

16,876

15,533

14,188

0

0

0

-

-

7,812

6,964

6,169

5,320

4,518

3,876

3,407

0

0

0

Amortization of debt issuance costs

869

892

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes, net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes, net

-

-

-

-

-

-

0

0

1,829

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on disposal of assets

-

-

-

-

-

-

0

0

0

-

0

0

-171

-

-154

-153

-72

-78

1

-23

-23

-12

-27

1

1

-1

0

0

0

Share-based compensation

12,100

11,804

11,697

11,613

11,493

11,120

10,308

9,496

8,857

7,795

6,852

5,817

4,532

3,833

3,383

2,854

2,412

2,120

2,134

2,103

2,088

2,061

2,188

1,836

1,447

1,069

0

0

0

Unrealized foreign exchange gain

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized foreign exchange gain

0

-

-

-

0

-

-

-

-

-330

-2,264

424

733

937

-1,146

-855

-2,113

-2,462

0

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, trade

-6,070

4,355

-2,319

-20,262

-21,532

-29,316

-41,003

-25,094

-12,714

10,080

28,996

32,341

31,691

11,147

3,176

9,095

5,229

7,531

17,299

8,108

6,231

9,703

7,182

10,871

12,579

8,457

0

0

0

Notes receivable

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

977

0

0

0

-

-

-

0

Prepaid income tax

-1,034

-961

-3

678

103

-230

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bank acceptance receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Inventories

10,277

-1,560

-16,082

443

5,338

28,403

42,051

37,133

33,343

21,876

20,329

893

297

-10,207

-2,499

13,479

21,151

37,502

31,667

23,025

21,424

16,105

18,147

15,852

12,290

7,520

0

0

0

Other current assets

-759

-5,514

-4,651

-4,129

-2,601

2,939

217

910

1,018

4,266

5,393

3,837

2,414

-4,119

-4,899

-2,395

-555

2,624

2,414

1,641

2,463

745

5,176

5,090

3,801

4,622

0

0

0

Operating right of use asset

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

8,137

3,150

-25,632

-19,904

-17,892

-13,714

2,713

-2,427

-393

7,249

19,837

21,724

22,930

9,105

971

4,912

900

-1,258

11,467

8,302

8,907

18,947

12,866

11,117

12,630

8,079

0

0

0

Accrued income taxes

-

-

-

-

-

-

-

-

-

6,204

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued liabilities

-1,727

-308

5,539

3,437

908

554

-5,265

-1,946

2,221

4,052

5,478

-97

1,124

3,107

1,107

6,945

3,129

4,797

5,118

1,390

2,195

2,359

1,451

3,216

1,816

1,369

0

0

0

Lease liability

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

-10,040

-1,754

-10,185

3,117

18,133

14,029

52,411

52,479

70,544

84,284

86,234

84,851

57,872

57,104

30,894

18,350

7,529

-15,212

-9,873

-3,113

-4,582

8,530

-3,071

-7,480

-8,231

-6,190

0

0

0

Investing activities:
Purchase of short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

179

175

342

317

277

246

0

0

0

-

-

-

-

Maturities of short-term investments

-

-

-

-

-

36

9,036

42

42

8

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in restricted cash for construction in progress

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

Purchase of property, plant and equipment

18,764

28,789

45,568

67,245

75,007

71,854

72,707

71,176

69,073

66,968

55,638

42,361

40,781

49,442

65,481

73,469

66,962

57,080

48,288

45,407

53,109

41,129

39,070

25,681

4,756

9,600

0

0

0

Purchase of land use rights

-

-

-

-

-

5,591

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposal of equipment

52

1

0

0

0

-

-

-

-

171

-1,121

-571

-277

14

1,579

1,061

807

351

80

80

35

47

45

12

12

0

0

0

0

Deposits and prepaid for equipment

6,972

2,688

-7,687

-4,993

-1,477

-674

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits and prepaid for equipment

-

-

-

-

-

-

-

-

-

-

0

0

-960

-

0

0

0

-

-

-

1,668

720

1,040

307

-74

43

0

0

0

Purchase of intangible assets

597

640

630

567

497

476

435

473

525

499

514

515

487

547

587

556

552

478

434

392

369

3,340

3,277

3,209

3,170

123

0

0

0

Net cash used in investing activities

-26,281

-32,116

-32,486

-62,132

-73,329

-76,514

-92,058

-74,775

-73,450

-70,159

-58,755

-45,729

-32,796

-41,535

-57,869

-64,860

-62,881

-61,620

-51,993

-51,450

-53,087

-45,388

-41,971

-31,248

-25,498

-17,736

0

0

0

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments of long-term debt and notes payable

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

0

0

0

-

-

-

-

-

37,445

33,451

37,255

16,944

13,357

13,357

5,000

8,150

3,150

6,001

6,001

2,851

0

0

0

Principal payments of long-term debt and notes payable

-

-

-

-

-

-

0

0

28,356

-

40,160

19,566

19,731

5,855

4,681

3,743

3,186

2,413

1,727

870

8,144

8,076

8,169

8,233

247

285

0

0

0

Proceeds from line of credit borrowings

97,491

83,434

101,108

113,598

120,984

155,078

0

0

0

-

-

-

-

117,172

160,261

144,361

150,444

144,386

123,287

114,901

72,961

53,658

37,327

20,726

20,995

23,192

0

0

0

Repayments of line of credit borrowings

82,552

88,299

106,190

113,827

135,733

165,569

0

0

0

-

-

-

-

163,068

151,201

148,774

128,247

121,386

107,536

76,284

52,032

50,733

35,526

32,294

26,880

23,008

0

0

0

Proceeds from bank acceptance payable

18,451

13,638

0

0

0

-

-

-

-

-

-

-

-

5,850

8,427

8,353

8,401

8,257

6,268

5,504

4,885

5,925

7,369

7,871

7,521

6,778

0

0

0

Repayments of bank acceptance payable

13,833

11,952

0

0

0

-

-

-

-

309

3,174

4,710

6,698

8,398

8,169

8,340

7,282

6,361

5,164

5,229

6,132

6,986

8,289

8,109

7,017

6,026

0

0

0

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments of financing lease

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

Decrease (increase) in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

4,122

-

2,821

1,545

198

-266

-241

-158

59

249

0

0

0

Exercise of stock options

7

14

8

74

75

120

181

212

889

1,460

1,778

1,941

1,397

859

502

344

460

452

485

473

335

365

396

342

252

173

0

0

0

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

857

897

1,051

2,451

3,375

4,137

6,019

11,090

11,416

10,721

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

494

0

0

0

Proceeds from common stock offering, net

0

-

-

-

0

-

-

-

-

21,572

0

0

0

-

-

-

-

-

-

-

-

45,681

0

0

0

-

-

-

-

Net cash provided by financing activities

21,431

42,596

56,453

64,836

48,246

34,803

24,306

22,736

26,041

18,244

-12,639

-11,889

-18,044

1,655

44,654

65,010

95,796

77,533

63,142

49,108

15,685

47,250

74,828

63,476

77,815

35,368

0

0

0

Effect of exchange rate changes on cash

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash

-

-

-

-

-

-

0

0

-369

-

-3,030

1,638

3,254

1,947

4,412

-413

-615

-592

-718

-212

-518

-223

-77

-437

-252

-159

0

0

0

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

-14,942

9,024

14,301

6,044

-5,840

-25,944

-13,927

2,064

22,766

31,984

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

35,619

-

558

-5,667

-42,502

10,169

29,709

24,311

43,834

11,283

0

0

0

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

4,988

3,172

3,256

1,091

1,211

848

667

588

705

872

1,142

1,785

1,528

1,689

1,504

1,051

1,353

1,070

866

537

268

329

587

809

1,007

1,133

0

0

0

Income taxes

-1,135

-890

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

650

117

194

197

148

147

71

27

1

0

0

0

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

-1,626

-3,869

-7,301

-588

-2,181

-1,151

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of intangible assets with notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,000

0

0

0

-

-

-

-