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Applied Optoelectronics, Inc.

Applied Optoelectronics, Inc.

NASDAQ•AAOI
CEO: Dr. Chih-Hsiang Lin Ph.D.
Sector: Technology
Industry: Semiconductors
Listing Date: 2013-09-26
Applied Optoelectronics, Inc. designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers. The company sells its products to internet data center operators, cable television, telecom equipment manufacturers, fiber-to-the-home, and internet service providers through its direct and indirect sales channels. Applied Optoelectronics, Inc. was incorporated in 1997 and is headquartered in Sugar Land, Texas.
Contact Information
13139 Jess Pirtle Boulevard, Sugar Land, TX, 77478, United States
281-295-1800
www.ao-inc.com
Market Cap
$2.19B
P/E (TTM)
-13.0
69.7
Dividend Yield
--
52W High
$41.27
52W Low
$9.71
52W Range
71%
Rank59Top 76.7%
2.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$118.63M+82.08%
4-Quarter Trend

EPS

-$0.28-33.33%
4-Quarter Trend

FCF

-$78.82M+284.50%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Surges 115.6% Nine-month revenue reached $321.44M USD, marking a substantial 115.6% increase driven by strong customer demand.
Gross Profit Soars 187.2% Nine-month gross profit hit $94.97M USD, increasing 187.2% due to higher sales on high margin products.
Net Loss Significantly Reduced Nine-month net loss narrowed to $36.21M USD, reflecting a 46.0% reduction compared to the prior period.
Strong Financing Cash Flow Net cash provided by financing was $348.25M USD, primarily from $343.0M proceeds generated via ATM Offerings.

Risk Factors

Geopolitical Trade Uncertainty Elevated tariffs and trade restrictions involving US, China, and Taiwan pose material adverse impact risks to revenue and costs.
High Customer Concentration Risk Top ten customers accounted for 97% of nine-month revenue, creating reliance on key customer forecast accuracy.
Operating Expenses Increased Total operating expenses rose 41.6% for nine months to $138.07M USD, driven by R&D and sales efforts.
Warranty Accrual Adequacy Accrued warranty liability is $0.45M USD; actual warranty costs may exceed accrual, increasing future cost of sales.

Outlook

AI Drives Data Center Demand Expect increased 100G/400G data center orders through 2025, fueled by customer efforts to accommodate generative AI applications.
Liquidity Position Maintained Company maintains $43.8M USD unused borrowing capacity across loan agreements as of September 30, 2025.
New Lease Agreements Signed Executed new long-term leases in Texas and New Taipei City; ROU asset recognition pending lease commencement.
China Factory Construction Update China factory interior work evaluation ongoing; property transferred from construction in progress in 2024.

Peer Comparison

Revenue (TTM)

Vishay Intertechnology, Inc.VSH
$2.98B
-0.8%
Ultra Clean Holdings, Inc.UCTT
$2.11B
+6.7%
Himax Technologies, Inc.HIMX
$866.32M
-3.7%

Gross Margin (Latest Quarter)

MaxLinear, Inc.MXL
56.6%
+3.0pp
Veeco Instruments Inc.VECO
41.4%
-0.5pp
Photronics, Inc.PLAB
35.0%
-2.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
AAOI$2.19B-13.0-41.0%20.6%
PLAB$2.18B15.311.0%0.0%
DQ$2.15B-6.3-7.9%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
5.8%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 25, 2026
|
EPS:-$0.12
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $118.63M+82.1%
    |
    EPS: $-0.28-33.3%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $102.95M+137.9%
    |
    EPS: $-0.16-75.8%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $99.86M+145.5%
    |
    EPS: $-0.18-70.0%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 28, 2025|
    Revenue: $249.37M+14.6%
    |
    EPS: $-4.50-157.1%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $65.15M+4.2%
    |
    EPS: $-0.42+55.6%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $43.27M+4.0%
    |
    EPS: $-0.66+15.8%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $40.67M-23.3%
    |
    EPS: $-0.60+7.1%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 23, 2024|
    Revenue: $217.65M-2.3%
    |
    EPS: $-1.75+26.5%
    Miss