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.

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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 Think Twice About

CRMT Cover Image

Rapid spending isn’t always a sign of progress. Some cash-burning businesses fail to convert investments into meaningful competitive advantages, leaving them vulnerable.

Just because a company is spending heavily doesn’t mean it’s on the right track, and StockStory is here to separate the winners from the losers. That said, here are three cash-burning companies to steer clear of and a few better alternatives.

America's Car-Mart (CRMT)

Trailing 12-Month Free Cash Flow Margin: -3.1%

With a strong presence in the Southern and Central US, America’s Car-Mart (NASDAQ: CRMT) sells used cars to budget-conscious consumers.

Why Do We Steer Clear of CRMT?

  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. Earnings per share have contracted by 38.3% annually over the last five years, a headwind for returns as stock prices often echo long-term EPS performance
  3. Depletion of cash reserves could lead to a fundraising event that triggers shareholder dilution

America's Car-Mart is trading at $31.86 per share, or 7.8x forward P/E. Read our free research report to see why you should think twice about including CRMT in your portfolio.

Liberty Broadband (LBRDK)

Trailing 12-Month Free Cash Flow Margin: -4.7%

Operating across the United States, Liberty Broadband (NASDAQ: LBRDK) is a provider of high-speed internet, cable television, and telecommunications services across various markets.

Why Does LBRDK Fall Short?

  1. Annual revenue growth of 3.1% over the last two years was below our standards for the business services sector
  2. Cash burn makes us question whether it can achieve sustainable long-term growth
  3. Limited cash reserves may force the company to seek unfavorable financing terms that could dilute shareholders

At $60.51 per share, Liberty Broadband trades at 49.2x forward EV-to-EBITDA. If you’re considering LBRDK for your portfolio, see our FREE research report to learn more.

Clarus (CLAR)

Trailing 12-Month Free Cash Flow Margin: -3.8%

Initially a financial services business, Clarus (NASDAQ: CLAR) designs, manufactures, and distributes outdoor equipment and lifestyle products.

Why Are We Out on CLAR?

  1. Products and services aren't resonating with the market as its revenue declined by 10.6% annually over the last two years
  2. Cash-burning history makes us doubt the long-term viability of its business model
  3. Diminishing returns on capital from an already low starting point show that neither management’s prior nor current bets are going as planned

Clarus’s stock price of $3.71 implies a valuation ratio of 22.8x forward P/E. Dive into our free research report to see why there are better opportunities than CLAR.

Stocks We Like More

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 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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