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Applied Optoelectronics, Inc. logo

Applied Optoelectronics, Inc.

AAOI

NASDAQTechnologyCommunication Equipment

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Latest quote

$124.82

−$4.28 · -3.32%

Aug 21, 3:55 PM ET

AAOI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

73

Undervalued

Momentum

44

Neutral

Sentiment

50

Mixed

Risk resilience

16

Extreme Risk

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Company profile

Company website

Applied Optoelectronics, Inc. (AAOI) is a global technology firm specializing in the creation, production, and distribution of fiber-optic networking solutions. Its extensive product catalog features optical modules, a range of laser components, subassemblies, transceivers, and complete turn-key systems. The company also supplies critical infrastructure hardware such as headend, node, and distribution equipment. AAOI caters to a varied clientele, including internet data center operators, manufacturers of cable television and telecommunications equipment, and internet service providers, utilizing both direct and partner-based sales channels. Founded in 1997, Applied Optoelectronics, Inc. is headquartered in Sugar Land, Texas.

Industry
Communication Equipment
Sector
Technology
Headquarters
US
CEO
Chih-Hsiang Lin
Listed since
Sep 26, 2013
Employees
4,691

Market position

Volume
9.75M
0.82× average
Average volume
11.9M
Average daily volume
Market cap
10.02B USD
Beta
3.79
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.05B USD
P/E (TTM)
-160.27×
P/B (TTM)
6.1×
P/S (TTM)
16.81×
EV / EBITDA
-132.12×
Earnings yield
-1.82%
Free cash flow yield
-16.85%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
28.92%
Operating margin
-11.31%
Net margin
-9.57%
Return on equity
-5.21%
Return on assets
-3.27%
Return on invested capital
-4.71%

Financial health

Debt / equity
0.16×
Current ratio
2.63×
Altman Z-score
9.74
Piotroski F-score
2 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends41%-1%-43%-85%Gross margin, FY2021: 17.83%Gross margin, FY2022: 15.09%Gross margin, FY2023: 27.07%Gross margin, FY2024: 24.78%Gross margin, FY2025: 30.04%Operating margin, FY2021: -26.83%Operating margin, FY2022: -26.48%Operating margin, FY2023: -19.00%Operating margin, FY2024: -28.44%Operating margin, FY2025: -11.98%Net margin, FY2021: -25.60%Net margin, FY2022: -29.80%Net margin, FY2023: -25.75%Net margin, FY2024: -74.88%Net margin, FY2025: -8.39%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 17.83%. Gross margin FY2022 15.09%. Gross margin FY2023 27.07%. Gross margin FY2024 24.78%. Gross margin FY2025 30.04%. Operating margin FY2021 -26.83%. Operating margin FY2022 -26.48%. Operating margin FY2023 -19.00%. Operating margin FY2024 -28.44%. Operating margin FY2025 -11.98%. Net margin FY2021 -25.60%. Net margin FY2022 -29.80%. Net margin FY2023 -25.75%. Net margin FY2024 -74.88%. Net margin FY2025 -8.39%.

Income trends

Revenue

455.72M USD+82.75%

Operating income

−54.6M USD+23.00%

Net income

−38.23M USD+79.53%
Income trends across reported periods519.96M USD262.98M USD6M USD−250.98M USDRevenue, FY2021: 211.57M USDRevenue, FY2022: 222.82M USDRevenue, FY2023: 217.65M USDRevenue, FY2024: 249.37M USDRevenue, FY2025: 455.72M USDOperating income, FY2021: −56.77M USDOperating income, FY2022: −59M USDOperating income, FY2023: −41.35M USDOperating income, FY2024: −70.91M USDOperating income, FY2025: −54.6M USDNet income, FY2021: −54.16M USDNet income, FY2022: −66.4M USDNet income, FY2023: −56.05M USDNet income, FY2024: −186.73M USDNet income, FY2025: −38.23M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 211.57M USD. Revenue FY2022 222.82M USD. Revenue FY2023 217.65M USD. Revenue FY2024 249.37M USD. Revenue FY2025 455.72M USD. Operating income FY2021 −56.77M USD. Operating income FY2022 −59M USD. Operating income FY2023 −41.35M USD. Operating income FY2024 −70.91M USD. Operating income FY2025 −54.6M USD. Net income FY2021 −54.16M USD. Net income FY2022 −66.4M USD. Net income FY2023 −56.05M USD. Net income FY2024 −186.73M USD. Net income FY2025 −38.23M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue455.72M USD249.37M USD217.65M USD222.82M USD211.57M USD
Cost of goods sold318.8M USD187.57M USD158.73M USD189.19M USD173.85M USD
Gross profit136.91M USD61.8M USD58.92M USD33.63M USD37.72M USD
Research and development85.51M USD54.96M USD35.98M USD36.24M USD41.22M USD
Selling, general, and administrative106.01M USD77.75M USD64.3M USD56.38M USD53.26M USD
Operating expenses191.52M USD132.71M USD100.27M USD92.63M USD94.48M USD
Interest income1.79M USD874K USD609K USD126K USD70K USD
Interest expense3.5M USD6.83M USD9.43M USD6.32M USD5.62M USD
Depreciation and amortization27.7M USD20.65M USD20.43M USD23.2M USD25.37M USD
Operating income−54.6M USD−70.91M USD−41.35M USD−59M USD−56.77M USD
Net income−38.23M USD−186.73M USD−56.05M USD−66.4M USD−54.16M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 4 misses, 1 met estimate
Average EPS surprise
+40.46%
11 comparable reports
Latest EPS result
0.06
Estimate 0.02 · Beat by 296.56%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.180.05-0.07-0.2Q1 '25MetQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual -0.02, estimate -0.02, surprise 0.00%, Met estimate. Q2 2025, reported May 8, 2025: actual -0.02, estimate -0.04, surprise +50.00%, Beat. Q3 2025, reported Aug 7, 2025: actual -0.16, estimate -0.08, surprise -100.00%, Miss. Q4 2025, reported Nov 6, 2025: actual -0.09, estimate -0.1, surprise +10.00%, Beat. Q1 2026, reported Feb 26, 2026: actual -0.01, estimate -0.12, surprise +91.67%, Beat. Q2 2026, reported May 7, 2026: actual -0.07, estimate -0.049, surprise -42.86%, Miss. Q3 2026, reported Aug 6, 2026: actual 0.06, estimate 0.015, surprise +296.56%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 0.14, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates281.61M216.36M151.12M85.87MQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual 100.27M USD, estimate 99.98M USD, surprise +0.29%, Beat. Q2 2025, reported May 8, 2025: actual 99.86M USD, estimate 99.37M USD, surprise +0.49%, Beat. Q3 2025, reported Aug 7, 2025: actual 102.95M USD, estimate 118.64M USD, surprise -13.22%, Miss. Q4 2025, reported Nov 6, 2025: actual 118.63M USD, estimate 131.56M USD, surprise -9.83%, Miss. Q1 2026, reported Feb 26, 2026: actual 134.27M USD, estimate 132.28M USD, surprise +1.50%, Beat. Q2 2026, reported May 7, 2026: actual 151.14M USD, estimate 156.98M USD, surprise -3.72%, Miss. Q3 2026, reported Aug 6, 2026: actual 191.92M USD, estimate 190.48M USD, surprise +0.76%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 268.11M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

16 ratings
Strong buy00%
Buy744%
Hold638%
Sell319%
Strong sell00%

Recent analyst actions

5 institutions

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ETFs holding AAOI

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
228.97M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares A.I. Innovation and Tech Active ETF logoiShares A.I. Innovation and Tech Active ETFBAI
Market value
205.31M
Weight
1.47%
AUM
13.91B USD
Expense ratio
0.65%
Price / 1D
$44.30-0.47%
Vanguard Information Technology ETF logoVanguard Information Technology ETFVGT
Market value
88.48M
Weight
0.06%
AUM
160.2B USD
Expense ratio
0.09%
Price / 1D
$118.42+0.05%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
82.67M
Weight
0.04%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
81.9M
Weight
0.09%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
iShares Russell Mid-Cap Growth ETF logoiShares Russell Mid-Cap Growth ETFIWP
Market value
57.55M
Weight
0.28%
AUM
20.62B USD
Expense ratio
0.23%
Price / 1D
$143.66+0.99%
Vanguard Morningstar Small-Cap Growth ETF logoVanguard Morningstar Small-Cap Growth ETFVBK
Market value
47.84M
Weight
0.11%
AUM
43.8B USD
Expense ratio
0.05%
Price / 1D
$358.65+0.70%
Schwab U.S. Small-Cap ETF logoSchwab U.S. Small-Cap ETFSCHA
Market value
46.59M
Weight
0.20%
AUM
23.1B USD
Expense ratio
0.03%
Price / 1D
$34.83+0.52%

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