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 Cash-Heavy Stocks That Fall Short

CXM Cover Image

A cash-heavy balance sheet is often a sign of strength, but not always. Some companies avoid debt because they have weak business models, limited expansion opportunities, or inconsistent cash flow.

Financial flexibility is valuable, but it’s not everything - at StockStory, we help you find the stocks that can not only survive but also outperform. Keeping that in mind, here are three companies with net cash positions that don’t make the cut and some better choices instead.

Sprinklr (CXM)

Net Cash Position: $519.3 million (24.3% of Market Cap)

Initially focused only on social media management, Sprinklr (NYSE: CXM) is a leading provider of unified customer experience management software.

Why Is CXM Risky?

  1. Average billings growth of 4% over the last year was subpar, suggesting it struggled to push its software and might have to lower prices to stimulate demand
  2. Estimated sales growth of 3.4% for the next 12 months implies demand will slow from its three-year trend
  3. Day-to-day expenses have swelled relative to revenue over the last year as its operating margin fell by 3.6 percentage points

Sprinklr’s stock price of $8.35 implies a valuation ratio of 2.5x forward price-to-sales. To fully understand why you should be careful with CXM, check out our full research report (it’s free).

agilon health (AGL)

Net Cash Position: $257.1 million (59.1% of Market Cap)

Transforming how doctors care for seniors by shifting financial incentives from volume to outcomes, agilon health (NYSE: AGL) provides a platform that helps primary care physicians transition to value-based care models for Medicare patients through long-term partnerships and global capitation arrangements.

Why Are We Hesitant About AGL?

  1. Expenses have increased as a percentage of revenue over the last two years as its adjusted operating margin fell by 3.9 percentage points
  2. Cash-burning history makes us doubt the long-term viability of its business model
  3. Negative returns on capital show that some of its growth strategies have backfired

At $1.05 per share, agilon health trades at 0.1x forward price-to-sales. If you’re considering AGL for your portfolio, see our FREE research report to learn more.

CoStar (CSGP)

Net Cash Position: $2.92 billion (7.9% of Market Cap)

With a research department that makes over 10,000 property updates daily to its 35-year-old database, CoStar Group (NASDAQ: CSGP) provides comprehensive real estate data, analytics, and online marketplaces for commercial and residential properties in the U.S. and U.K.

Why Is CSGP Not Exciting?

  1. Earnings per share fell by 3.7% annually over the last five years while its revenue grew, showing its incremental sales were much less profitable
  2. Free cash flow margin shrank by 13.8 percentage points over the last five years, suggesting the company is consuming more capital to stay competitive
  3. Diminishing returns on capital from an already low starting point show that neither management’s prior nor current bets are going as planned

CoStar is trading at $87.99 per share, or 81.7x forward P/E. Dive into our free research report to see why there are better opportunities than CSGP.

High-Quality Stocks for All Market Conditions

Trump’s April 2025 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 6 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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