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

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 Unprofitable Stocks That Fall Short

PUBM Cover Image

Unprofitable companies face headwinds as they struggle to keep operating expenses under control. Some may be investing heavily, but the majority fail to convert spending into sustainable growth.

Finding the right unprofitable companies is difficult, which is why we started StockStory - to help you navigate the market. That said, here are three unprofitable companiesto steer clear of and a few better alternatives.

PubMatic (PUBM)

Trailing 12-Month GAAP Operating Margin: -1.3%

Powering billions of daily ad impressions across the open internet, PubMatic (NASDAQ: PUBM) operates a technology platform that helps publishers maximize revenue from their digital advertising inventory while giving advertisers more control and transparency.

Why Do We Avoid PUBM?

  1. Customers generally do not adopt complementary products as its 110% net revenue retention rate lags behind the industry standard
  2. Projected sales decline of 8.5% for the next 12 months points to a tough demand environment ahead
  3. Expenses have increased as a percentage of revenue over the last year as its operating margin fell by 5 percentage points

PubMatic’s stock price of $8.56 implies a valuation ratio of 1.5x forward price-to-sales. Check out our free in-depth research report to learn more about why PUBM doesn’t pass our bar.

fuboTV (FUBO)

Trailing 12-Month GAAP Operating Margin: -7.9%

Originally launched as a soccer streaming platform, fuboTV (NYSE: FUBO) is a video streaming service specializing in live sports, news, and entertainment content.

Why Are We Out on FUBO?

  1. Number of domestic subscribers has disappointed over the past two years, indicating weak demand for its offerings
  2. Historical operating margin losses point to an inefficient cost structure
  3. Capital intensity will likely increase as its free cash flow margin is anticipated to drop by 6.5 percentage points over the next year

fuboTV is trading at $4.19 per share, or 90.7x forward P/E. Dive into our free research report to see why there are better opportunities than FUBO.

Icahn Enterprises (IEP)

Trailing 12-Month GAAP Operating Margin: -4.7%

Founded in 1987, Icahn Enterprises (NASDAQ: IEP) is a diversified holding company primarily engaged in investment and asset management across various sectors.

Why Are We Cautious About IEP?

  1. Products and services are facing significant end-market challenges during this cycle as sales have declined by 9.8% annually over the last two years
  2. High input costs result in an inferior gross margin of 8.5% that must be offset through higher volumes
  3. Depletion of cash reserves could lead to a fundraising event that triggers shareholder dilution

At $8.31 per share, Icahn Enterprises trades at 0.4x forward price-to-sales. To fully understand why you should be careful with IEP, check out our full research report (it’s free).

Stocks We Like More

Donald Trump’s April 2025 "Liberation Day" tariffs sent markets into a tailspin, but stocks have since rebounded strongly, proving that knee-jerk reactions often create the best buying opportunities.

The smart money is already positioning for the next leg up. Don’t miss out on the recovery - check out our Top 9 Market-Beating Stocks. 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-micro-cap company Tecnoglass (+1,754% 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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