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-Heavy Stocks We Find Risky

MANH Cover Image

Companies with more cash than debt can be financially resilient, but that doesn’t mean they’re all strong investments. Some lack leverage because they struggle to grow or generate consistent profits, making them unattractive borrowers.

Just because a business has cash doesn’t mean it’s a good investment. Luckily, StockStory is here to help you separate the winners from the losers. That said, here are three companies with net cash positions that don’t make the cut and some better choices instead.

Manhattan Associates (MANH)

Net Cash Position: $182 million (1.4% of Market Cap)

Built on a "versionless" cloud architecture that delivers quarterly updates to all customers, Manhattan Associates (NASDAQ: MANH) develops cloud-based software that helps retailers, wholesalers, and manufacturers manage their supply chains, inventory, and omnichannel operations.

Why Are We Cautious About MANH?

  1. Average billings growth of 5.7% 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 4.1% for the next 12 months implies demand will slow from its two-year trend
  3. Gross margin of 56.3% is way below its competitors, leaving less money to invest in areas like marketing and R&D

Manhattan Associates’s stock price of $213.70 implies a valuation ratio of 11.8x forward price-to-sales. If you’re considering MANH for your portfolio, see our FREE research report to learn more.

Perdoceo Education (PRDO)

Net Cash Position: $565 million (24.4% of Market Cap)

Formerly known as Career Education Corporation, Perdoceo Education (NASDAQ: PRDO) is an educational services company that specializes in postsecondary education.

Why Are We Wary of PRDO?

  1. Annual revenue growth of 2.9% over the last two years was below our standards for the consumer discretionary sector
  2. Waning returns on capital imply its previous profit engines are losing steam

At $35.68 per share, Perdoceo Education trades at 22.8x forward EV-to-EBITDA. Read our free research report to see why you should think twice about including PRDO in your portfolio.

Barrett (BBSI)

Net Cash Position: $64.94 million (5.6% of Market Cap)

Operating as a professional employer organization (PEO) that serves over 8,000 companies with more than 120,000 worksite employees, Barrett Business Services (NASDAQ: BBSI) provides management solutions that help small and mid-sized businesses handle human resources, payroll, workers' compensation, and other administrative functions.

Why Does BBSI Worry Us?

  1. Smaller revenue base of $1.20 billion means it hasn’t achieved the economies of scale that some industry juggernauts enjoy
  2. Free cash flow margin dropped by 10.1 percentage points over the last five years, implying the company became more capital intensive as competition picked up
  3. Shrinking returns on capital suggest that increasing competition is eating into the company’s profitability

Barrett is trading at $45.35 per share, or 19.6x forward P/E. Dive into our free research report to see why there are better opportunities than BBSI.

High-Quality Stocks for All Market Conditions

When Trump unveiled his aggressive tariff plan in April 2025, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that’s already erased most losses.

Don’t let fear keep you from great opportunities and take a look at 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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