It's not a technology that I've had my hands on but my understanding is that it's effectively time division multiplexing. The single fibre carries your data some of the time, and other customers' data at other times. Obviously in small time slices, I've seen 125us mentioned.
The splitter sends the light, and everyone's data, to all customers on that shared network segment. At your end the ONT picks out your data only.
The splitter sends the light, and everyone's data, to all customers on that shared network segment. At your end the ONT picks out your data only.