Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

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Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

3 Unprofitable Stocks We’re Skeptical Of

REAL Cover Image

Unprofitable companies face headwinds as they struggle to keep operating expenses under control. Some may be investing heavily, but the majority fail to convert spending into sustainable growth.

A lack of profits can lead to trouble, but StockStory helps you identify the businesses that stand a chance of making it through. Keeping that in mind, here are three unprofitable companiesto avoid and some better opportunities instead.

The RealReal (REAL)

Trailing 12-Month GAAP Operating Margin: -8.3%

Founded by consignment store aficionado Julie Wainwright, The RealReal (NASDAQ: REAL) is an online marketplace for buying and selling secondhand luxury goods.

Why Do We Think Twice About REAL?

  1. Focus on expanding its platform came at the expense of monetization as its average revenue per user fell by 5.5% annually
  2. Cash-burning history makes us doubt the long-term viability of its business model
  3. Depletion of cash reserves could lead to a fundraising event that triggers shareholder dilution

The RealReal’s stock price of $5.35 implies a valuation ratio of 22.1x forward EV/EBITDA. If you’re considering REAL for your portfolio, see our FREE research report to learn more.

Sportsman's Warehouse (SPWH)

Trailing 12-Month GAAP Operating Margin: -1.1%

A go-to destination for individuals passionate about hunting, fishing, camping, hiking, shooting sports, and more, Sportsman's Warehouse (NASDAQ: SPWH) is an American specialty retailer offering a diverse range of active gear, equipment, and apparel.

Why Are We Out on SPWH?

  1. Weak same-store sales trends over the past two years suggest there may be few opportunities in its core markets to open new locations
  2. Historical operating margin losses point to an inefficient cost structure
  3. Short cash runway increases the probability of a capital raise that dilutes existing shareholders

Sportsman's Warehouse is trading at $3.31 per share, or 3.4x forward EV-to-EBITDA. Dive into our free research report to see why there are better opportunities than SPWH.

Fluence Energy (FLNC)

Trailing 12-Month GAAP Operating Margin: -1.1%

Pioneering the use of lithium-ion batteries for grid storage, Fluence (NASDAQ: FLNC) helps store renewable energy sources with battery systems.

Why Are We Hesitant About FLNC?

  1. Gross margin of 6.4% reflects its high production costs
  2. Free cash flow margin dropped by 12 percentage points over the last five years, implying the company increased its investment activities to fend off competitors
  3. Limited cash reserves may force the company to seek unfavorable financing terms that could dilute shareholders

At $8.67 per share, Fluence Energy trades at 20.7x forward P/E. Read our free research report to see why you should think twice about including FLNC in your portfolio.

High-Quality Stocks for All Market Conditions

Trump’s April 2024 tariff bombshell triggered a massive market selloff, but stocks have since staged an impressive recovery, leaving those who panic sold on the sidelines.

Take advantage of the rebound by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

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