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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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 with Questionable Fundamentals

DOMO Cover Image

Companies that burn cash at a rapid pace can run into serious trouble if they fail to secure funding. Without a clear path to profitability, these businesses risk dilution, mounting debt, or even bankruptcy.

Not all companies are worth the risk, and that’s why we built StockStory - to help you spot the red flags. That said, here are three cash-burning companies to steer clear of and a few better alternatives.

Domo (DOMO)

Trailing 12-Month Free Cash Flow Margin: -1.6%

Named for the Japanese word meaning "thank you very much," Domo (NASDAQ: DOMO) provides a cloud-based business intelligence platform that connects people with real-time data and insights across organizations.

Why Should You Dump DOMO?

  1. Customers had second thoughts about committing to its platform over the last year as its billings averaged 1.1% declines
  2. Customer acquisition costs take a while to recoup, making it difficult to justify sales and marketing investments that could increase revenue
  3. Limited cash reserves may force the company to seek unfavorable financing terms that could dilute shareholders

At $15.34 per share, Domo trades at 2x forward price-to-sales. Read our free research report to see why you should think twice about including DOMO in your portfolio.

Mister Car Wash (MCW)

Trailing 12-Month Free Cash Flow Margin: -1.6%

Formerly known as Hotshine Holdings, Mister Car Wash (NYSE: MCW) offers car washes across the United States through its conveyorized service.

Why Are We Out on MCW?

  1. Poor same-store sales performance over the past two years indicates it’s having trouble bringing new shoppers into its stores
  2. Cash-burning tendencies make us wonder if it can sustainably generate shareholder value
  3. Unfavorable liquidity position could lead to additional equity financing that dilutes shareholders

Mister Car Wash’s stock price of $5.40 implies a valuation ratio of 11.6x forward P/E. Check out our free in-depth research report to learn more about why MCW doesn’t pass our bar.

First Solar (FSLR)

Trailing 12-Month Free Cash Flow Margin: -21.7%

Headquartered in Arizona, First Solar (NASDAQ: FSLR) specializes in manufacturing solar panels and providing photovoltaic solar energy solutions.

Why Are We Hesitant About FSLR?

  1. Sales trends were unexciting over the last five years as its 6.8% annual growth was below the typical industrials company
  2. Free cash flow margin dropped by 18.9 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 Solar is trading at $203.71 per share, or 10.4x forward P/E. If you’re considering FSLR for your portfolio, see our FREE research report to learn more.

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 Growth Stocks for this month. 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 Comfort Systems (+782% 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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