$AAOI projects 10x growth with improving margins
In less than 2 years
However, management has a history of overpromising
1.
On the Q1 2024 call, CEO Thompson Lin said 800G alone could generate more than $500M to $600M next year.
They are still in the process of ramping up.
2.
In September 2023, AAOI filed a lawsuit against its largest customer, ATX Networks, which by 2022 had grown to contribute $105M, or 47% of company-wide revenue.
AAOI never disclosed this lawsuit to investors.
AAOI alleged that beginning in June 2023, ATX failed to make a series of required payments for fiber optic networ