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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If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

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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-Burning Stocks We’re Skeptical Of

CAR Cover Image

While some companies burn cash to fuel expansion, others struggle to turn spending into sustainable growth. A high cash burn rate without a strong balance sheet can leave investors exposed to significant downside.

Negative cash flow can lead to trouble, but StockStory helps you identify the businesses that stand a chance of making it through. That said, here are three cash-burning companies that don’t make the cut and some better opportunities instead.

Avis Budget Group (CAR)

Trailing 12-Month Free Cash Flow Margin: -11.9%

The parent company of brands such as Zipcar and Budget Truck Rental, Avis (NASDAQ: CAR) is a provider of car rental and mobility solutions.

Why Should You Sell CAR?

  1. Sluggish trends in its available rental days - car rental suggest customers aren’t adopting its solutions as quickly as the company hoped
  2. Eroding returns on capital suggest its historical profit centers are aging
  3. Short cash runway increases the probability of a capital raise that dilutes existing shareholders

At $150.42 per share, Avis Budget Group trades at 10.8x forward P/E. Read our free research report to see why you should think twice about including CAR in your portfolio.

Rocket Lab (RKLB)

Trailing 12-Month Free Cash Flow Margin: -40.5%

Becoming the first private company in the Southern Hemisphere to reach space, Rocket Lab (NASDAQ: RKLB) offers rockets designed for launching small satellites.

Why Is RKLB Not Exciting?

  1. Historically negative EPS is a worrisome sign for conservative investors and obscures its long-term earnings potential
  2. Cash burn makes us question whether it can achieve sustainable long-term growth
  3. Unfavorable liquidity position could lead to additional equity financing that dilutes shareholders

Rocket Lab’s stock price of $41.40 implies a valuation ratio of 30.1x forward price-to-sales. If you’re considering RKLB for your portfolio, see our FREE research report to learn more.

First Advantage (FA)

Trailing 12-Month Free Cash Flow Margin: -2.2%

Processing approximately 100 million background checks annually across more than 200 countries and territories, First Advantage (NASDAQ: FA) provides employment background screening, identity verification, and compliance solutions to help companies manage hiring risks.

Why Are We Cautious About FA?

  1. Falling earnings per share over the last three years has some investors worried as stock prices ultimately follow EPS over the long term
  2. Free cash flow margin dropped by 16.5 percentage points over the last five years, implying the company increased its investment activities to fend off competitors
  3. Depletion of cash reserves could lead to a fundraising event that triggers shareholder dilution

First Advantage is trading at $16.32 per share, or 15.8x forward P/E. Check out our free in-depth research report to learn more about why FA doesn’t pass our bar.

Stocks We Like More

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 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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