NeoPhotonics files for IPO

April 16, 2010
APRIL 16, 2010 By Stephen Hardy -- Optical component and module vendor NeoPhotonics Corp. has filed an S-1 form with the U.S. Securities and Exchange Commission, signaling its intention to launch an initial public offering (IPO). The company has set $115 million as its target.

APRIL 16, 2010 By Stephen Hardy -- Optical component and module vendor NeoPhotonics Corp. (search Lightwave for NeoPhotonics) has filed an S-1 form with the U.S. Securities and Exchange Commission, signaling its intention to launch an initial public offering (IPO). The company has set $115 million as its target.

As is often the case the date of proposed offering was not noted on the form, nor was the initial offering price. Underwriters listed on the form include:

  • J.P. Morgan Securities Inc.
  • Deutsche Bank Securities Inc.
  • Piper Jaffray & Co.
  • Thomas Weisel Partners LLC
  • Morgan Keegan & Company, Inc.
  • ThinkEquity LLC


The company describes itself as “a leading designer and manufacturer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks.” It says its product portfolio exceeds 300 elements; its most recent additions, announced at OFC/NFOEC, include an integrated coherent receiver for 40G and 100G applications and 10G PON transceivers.

Customers NeoPhotonics identified as Tier 1 include:

  • ADVA Optical Networking
  • Alcatel-Lucent
  • Ciena (including its recently acquired Nortel assets)
  • Cisco Systems
  • FiberHome Technologies Group
  • ECI Telecom
  • Ericsson
  • Fujitsu
  • Harmonic
  • Huawei Technologies (which represented 52.9% of sales in 2009 -- a figure that may seem a bit top-heavy for some potential investors)
  • Mitsubishi Electric
  • NEC
  • Nokia Siemens Networks
  • ZTE.


The company claims revenue of $155.1 million and a net loss of $6.8 million in 2009. However, it asserts it has increased revenue at a 45.1% compound annual growth rate from 2005 to 2009 “due to organic growth and acquisitions.”

The filing is available on the SEC website.

Visit NeoPhotonics

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