Touchstone
Last syncOct 31, 2026, 6:54 PM ET

AAOI

Applied Optoelectronics, Inc. Information Technology Semiconductors & Related Devices Russell 3000
$69.05Close $5.2BMarket cap $19.49 – $223.1052-week range Nov 5, 2026Next report · after the close

Highlights

Cautions

  • Not in an uptrend 3 of 8 trend conditions
  • Lagging the market RS 49 · weaker than 51% of stocks over 12 months
  • Far from its high 69% below its 52-week high
  • Results soon Nov 5, 2026, in 4 days

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Aug 6, 2026
Off 12-month high 69%
1wk up 2.3% price change
1mo down 30.4% price change
12-month return up 97% market up 11% · its own up 84%
F-score 5 / 9 Mixed
Altman Z 7.23 Low risk
P/E — price / earnings
PEG — P/E / EPS growth
P/B 7.1× price / book
Earnings yield down 1.1% EBIT / enterprise value
Cheaper than 18% of the market · expensive
Revenue growth up 83% year on year
EPS growth — latest quarter
Sales growth up 86% latest quarter · +35 pts
ROE down 8% return on equity
Free cash margin down 78% -$353.6M FCF
D/E 0.00 long-term debt / equity
Net debt / EBITDA —
Interest cover —EBIT / interest
Piotroski tests
  • not yet profitable on its assets
  • operating cash flow is negative
  • profits not fully backed by cash
  • issued more shares
  • profitability improving
  • reduced long-term debt
  • short-term liquidity improved
  • gross margin widened
  • assets working harder

Repair signals

  • Long-term debt down 100% ($0.0B → $0.0B)
  • Gross margin 24.8% → 30.0%

Trade setup

ATR% 12.0% $8.31 a day · 2×ATR $52.42
RS 49 / 99 vs the universe
Trend 3 / 8 trend template
Relative volume 1.9× vs 50-day average
Up/down volume 0.74 50 sessions
Implied move — no option chain · report Nov 5, 2026
Trend template · 3 of 8
  • Price above the 150 and 200-day averages: fails
  • 150-day average above the 200-day: passes
  • 200-day average rising for a month: passes
  • 50-day average above the 150 and 200-day: fails
  • Price above the 50-day average: fails
  • At least 30% above the 52-week low: passes
  • Within 25% of the 52-week high: fails
  • RS rank 70 or higher: fails

Screen verdict

Did not qualify for any screen.

Warning signs

1 flagged
  • Shareholders diluted The share count rose 51.8% over the year, from 49m to 75m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
Last reported Aug 6, 2026
Last shock Oct 8, 2026-14% in one session2.0× volumeno filing matched-35% since

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $455.7M +83% on FY2024
$0 $500M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $234.6M FY2021 · $211.6M FY2022 · $222.8M FY2023 · $217.6M FY2024 · $249.4M FY2025 · $455.7M
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology -$38.2M
-$200M $0 FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · -$58.5M FY2021 · -$54.2M FY2022 · -$66.4M FY2023 · -$56.0M FY2024 · -$186.7M FY2025 · -$38.2M
Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology -$353.6M
-$500M $0 FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · -$59.8M FY2021 · -$19.6M FY2022 · -$17.2M FY2023 · -$17.0M FY2024 · -$112.9M FY2025 · -$353.6M
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Gross 30%
  • Net -8%
  • Free cash -78%
-100% 0% 50% FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Gross 22% · Net -25% · Free cash -25% FY2021 · Gross 18% · Net -26% · Free cash -9% FY2022 · Gross 15% · Net -30% · Free cash -8% FY2023 · Gross 27% · Net -26% · Free cash -8% FY2024 · Gross 25% · Net -75% · Free cash -45% FY2025 · Gross 30% · Net -8% · Free cash -78%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $206.1M net cash
  • Cash
  • Long-term debt
$0 $250M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Cash $43.4M · Long-term debt $13.9M FY2021 · Cash $34.7M · Long-term debt $5.0M FY2022 · Cash $24.7M · Long-term debt $0 FY2023 · Cash $45.4M · Long-term debt $0 FY2024 · Cash $67.4M · Long-term debt $4.3M FY2025 · Cash $206.1M · Long-term debt $0
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 75m +198.7% since FY2020
75m 25.11m FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · 25.11m FY2021 · 27.32m FY2022 · 28.62m FY2023 · 38.15m FY2024 · 49.39m FY2025 · 75m
  FY2020Dec 31, 2020 FY2021Dec 31, 2021 FY2022Dec 31, 2022 FY2023Dec 31, 2023 FY2024Dec 31, 2024 FY2025Dec 31, 2025
Revenue $234.6M $211.6M $222.8M $217.6M $249.4M $455.7M
Gross margin 22% 18% 15% 27% 25% 30%
Operating income -$48.8M -$56.8M -$59.0M -$41.3M -$70.9M -$54.6M
Net income -$58.5M -$54.2M -$66.4M -$56.0M -$186.7M -$38.2M
Net margin -25% -26% -30% -26% -75% -8%
Earnings per share -$2.67 -$2.01 -$2.38 -$1.75 -$4.50 -$0.64
Free cash flow -$59.8M -$19.6M -$17.2M -$17.0M -$112.9M -$353.6M
Free cash margin -25% -9% -8% -8% -45% -78%
Cash $43.4M $34.7M $24.7M $45.4M $67.4M $206.1M
Long-term debt $13.9M $5.0M $0 $0 $4.3M $0
Shareholders' equity $277.9M $254.6M $184.7M $214.9M $229.1M $733.9M
Shares outstanding 25.11m 27.32m 28.62m 38.15m 49.39m 75m

Filings

SEC EDGAR
FiledReportPeriod to Lag
Aug 6, 2026 Quarterly ↗ Jun 30, 2026 37d
May 7, 2026 Quarterly ↗ Mar 31, 2026 37d
Feb 26, 2026 Annual ↗ Dec 31, 2025 57d
Nov 6, 2025 Quarterly ↗ Sep 30, 2025 37d
Aug 7, 2025 Quarterly ↗ Jun 30, 2025 38d
May 8, 2025 Quarterly ↗ Mar 31, 2025 38d
Feb 28, 2025 Annual ↗ Dec 31, 2024 59d
Nov 7, 2024 Quarterly ↗ Sep 30, 2024 38d
Aug 6, 2024 Quarterly ↗ Jun 30, 2024 37d
May 9, 2024 Quarterly ↗ Mar 31, 2024 39d
Feb 23, 2024 Annual ↗ Dec 31, 2023 54d
Nov 9, 2023 Quarterly ↗ Sep 30, 2023 40d

Current reports

FiledDisclosed
Sep 15, 2026 Material agreement · New obligation ↗
Sep 10, 2026 Material agreement ↗
Sep 1, 2026 Material agreement · New obligation ↗
Aug 24, 2026 Material agreement · Director or officer change ↗
Aug 21, 2026 Material agreement ↗
Aug 6, 2026 Results ↗
Jul 1, 2026 Material agreement · New obligation ↗
Jun 16, 2026 Material agreement · New obligation ↗
Jun 5, 2026 Director or officer change · Shareholder vote ↗
May 14, 2026 Material agreement ↗
May 13, 2026 Material agreement · New obligation ↗
May 8, 2026 Auditor change ↗