APPLIED OPTOELECTRONICS, INC.
APPLIED OPTOELECTRONICS, INC.
APPLIED OPTOELECTRONICS, INC. (AAOI) — SEC Financial Statements & Analysis
APPLIED OPTOELECTRONICS, INC. (AAOI) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 440 | 206 | 137 | 65 | 51 | 67 | 34 | 11 | 8 | 45 | 22 | 22 | |||||
Restricted Cash And Cash Equivalents At Carrying V… | 10 | 10 | 14 | 22 | 16 | 12 | 7 | 5 | 9 | 10 | 9 | 7 | |||||
Accounts Receivable Net Current | 299 | 244 | 224 | 211 | 171 | 117 | 75 | 58 | 57 | 48 | 61 | 43 | |||||
Notes And Loans Receivable Net Current | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 1 | |||||
Inventory Net | 206 | 183 | 170 | 139 | 102 | 88 | 64 | 54 | 54 | 64 | 68 | 66 | |||||
Prepaid Expense And Other Assets Current | 38 | 32 | 30 | 21 | 19 | 17 | 7 | 4 | 4 | 5 | 5 | 6 | |||||
Prepaid Taxes | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Assets Current | 993 | 676 | 575 | 458 | 359 | 301 | 188 | 133 | 134 | 173 | 164 | 145 | |||||
Property Plant And Equipment Net | 419 | 376 | 310 | 269 | 241 | 219 | 205 | 198 | 200 | 200 | 194 | 198 | |||||
Indefinite Lived Contractual Rights | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |||||
Operating Lease Right Of Use Asset | 72 | 50 | 42 | 22 | 9 | 10 | 4 | 4 | 5 | 5 | 5 | 5 | |||||
Finance Lease Right Of Use Asset | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
Finite Lived Intangible Assets Net | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | |||||
Deferred Income Tax Assets Net | 7 | - | - | - | - | - | - | - | - | - | - | - | |||||
Other Assets Noncurrent | 67 | 59 | 42 | 39 | 27 | 8 | 4 | 4 | 4 | 3 | 2 | 1 | |||||
Assets | 1,566 | 1,168 | 979 | 797 | 645 | 547 | 410 | 348 | 351 | 389 | 374 | 357 | |||||
Liabilities Current | |||||||||||||||||
Accounts Payable Current | 148 | 144 | 150 | 133 | 125 | 105 | 56 | 34 | 24 | 33 | 35 | 35 | |||||
Accrued Liabilities Current | 31 | 42 | 34 | 28 | 20 | 22 | 19 | 17 | 13 | 19 | 16 | 15 | |||||
Operating Lease Liability Current | 3 | 4 | 3 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Finance Lease Liability Current | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | |||||
Contract With Customer Liability Current | - | - | - | - | - | 0 | 1 | 2 | 2 | 2 | 10 | 11 | |||||
Liabilities Current | 259 | 257 | 249 | 217 | 191 | 170 | 117 | 81 | 75 | 93 | 188 | 187 | |||||
Contract With Customer Liability Noncurrent | - | - | - | - | - | - | - | - | - | - | 2 | 1 | |||||
Operating Lease Liability Noncurrent | 71 | 47 | 40 | 21 | 9 | 9 | 4 | 4 | 4 | 5 | 5 | 5 | |||||
Convertible Debt Current | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 80 | 80 | |||||
Notes Payable To Bank Noncurrent | - | 0 | 0 | 0 | 2 | 4 | - | - | - | 0 | - | - | |||||
Convertible Long Term Notes Payable | 130 | 130 | 130 | 134 | 134 | 134 | 77 | 77 | 76 | 76 | 0 | 0 | |||||
Liabilities | 460 | 435 | 419 | 372 | 336 | 318 | 198 | 162 | 155 | 174 | 195 | 194 | |||||
Stockholders Equity | |||||||||||||||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | - | |||||
Common Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Additional Paid In Capital | 1,610 | 1,225 | 1,046 | 894 | 773 | 683 | 543 | 502 | 485 | 479 | 432 | 407 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -0 | -1 | 1 | 1 | -3 | -3 | 1 | -2 | -1 | 1 | -2 | -1 | |||||
Retained Earnings Accumulated Deficit | -504 | -490 | -488 | -470 | -461 | -452 | -332 | -314 | -288 | -265 | -251 | -242 | |||||
Stockholders Equity | 1,106 | 734 | 559 | 425 | 309 | 229 | 212 | 186 | 196 | 215 | 178 | 163 | |||||
Liabilities And Stockholders Equity | 1,566 | 1,168 | 979 | 797 | 645 | 547 | 410 | 348 | 351 | 389 | 374 | 357 | |||||
Preferred Stock Shares Authorized | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | - | - | |||||
Preferred Stock Par Or Stated Value Per Share | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | - | - | |||||
Preferred Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | - | |||||
Preferred Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | - | |||||
Common Stock Shares Authorized | 360 | 360 | 360 | 360 | 320 | 320 | 320 | 320 | 320 | 320 | 320 | 315 | |||||
Common Stock Par Or Stated Value Per Share | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | 0.001 | |||||
Allowance For Doubtful Accounts Receivable | - | - | - | - | - | 0 | 2 | 2 | 0 | 0 | 0 | 0 | |||||
Common Stock Shares Issued | 79 | 75 | 68 | 62 | 53 | 49 | 45 | 41 | 39 | 38 | 34 | 32 | |||||
Shares Outstanding | 79 | 75 | 68 | 62 | 53 | 49 | 45 | 41 | 39 | 38 | 34 | 32 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.55% | -13.87% | - | - | - | - | - | - | - | - | - | - |
| 2025 | 4.47% | 77.64% | 83.81% | 8.37% | 15.41% | 52.31% | -7.97% | 27.73% | 22.75% | 63.05% | 196.93% | 254.55% |
| 2024 | -0.47% | -21.35% | -17.74% | 55.69% | 88.41% | 139.23% | 130.28% | 110.84% | 71.45% | -6.54% | -51.24% | -14.50% |
| 2023 | - | - | - | 97.12% | 45.37% | 4.86% | 68.55% | 97.95% | 53.59% | -10.25% | -20.64% | -27.77% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 3.83 | 2.63 | 2.31 | 2.11 | 1.88 | 1.77 | 1.61 | 1.64 | 1.79 | 1.85 | 0.87 | 0.77 | |||||
| Quick Ratio | 2.88 | 1.79 | 1.50 | 1.38 | 1.25 | 1.15 | 1.00 | 0.92 | 1.01 | 1.11 | 0.49 | 0.38 | |||||
| Working Capital | 733.15M | 418.44M | 326.17M | 241.50M | 167.84M | 131.20M | 71.26M | 52.03M | 59.03M | 79.25M | -23.85M | -42.92M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 0.42 | 0.59 | 0.75 | 0.88 | 1.09 | 1.39 | 0.93 | 0.87 | 0.79 | 0.81 | 1.10 | 1.19 | |||||
| Interest Coverage TTM | -17.12 | -15.61 | -11.24 | -9.20 | -9.57 | -10.39 | -8.41 | -6.97 | -5.45 | -4.39 | -6.74 | -7.93 | |||||
| Debt Ratio | 0.29 | 0.37 | 0.43 | 0.47 | 0.52 | 0.58 | 0.48 | 0.46 | 0.44 | 0.45 | 0.52 | 0.54 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.46 | 0.53 | 0.61 | 0.64 | 0.62 | 0.53 | 0.53 | 0.59 | 0.56 | 0.55 | 0.56 | 0.54 | |||||
| Days Sales Outstanding TTM | 169.22 | 144.65 | 129.47 | 133.38 | 135.20 | 120.66 | 118.36 | 88.42 | 101.59 | 91.60 | 94.74 | 78.63 | |||||
| Receivables Turnover TTM | 2.16 | 2.52 | 2.82 | 2.74 | 2.70 | 3.02 | 3.08 | 4.13 | 3.59 | 3.98 | 3.85 | 4.64 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | -0.57 | -0.64 | -2.46 | -2.74 | -3.45 | -4.50 | -1.91 | -1.83 | -1.64 | -1.75 | -1.91 | -2.34 | |||||
| Free Cash Flow Per Share TTM | -5.50 | -5.87 | -4.77 | -4.30 | -3.16 | -2.72 | -1.53 | -1.54 | -1.08 | -0.53 | -0.51 | -0.33 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 29.64% | 30.04% | 29.33% | 28.88% | 27.47% | 24.78% | 26.09% | 28.48% | 27.90% | 27.07% | 19.90% | 15.55% | |||||
| Operating Profit Margin TTM | -11.57% | -11.98% | -11.75% | -13.02% | -18.86% | -28.44% | -32.91% | -28.56% | -23.79% | -19.00% | -25.22% | -29.11% | |||||
| Net Profit Margin TTM | -8.55% | -8.39% | -36.97% | -42.29% | -55.98% | -74.88% | -38.61% | -34.84% | -30.65% | -25.75% | -28.54% | -32.46% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 64.32% | 82.75% | 101.25% | 77.94% | 50.30% | 14.57% | -4.22% | -2.81% | -8.19% | -2.32% | 1.45% | 0.33% | |||||
| Net Income Growth (1Y) | -74.91% | -79.53% | 92.70% | 115.98% | 174.50% | 233.17% | 29.56% | 4.31% | -5.55% | -15.59% | 2.89% | 13.57% | |||||
| EPS Growth (1Y) | -83.48% | -85.87% | 28.75% | 49.76% | 110.44% | 156.21% | 0.36% | -21.86% | -28.92% | -26.42% | -12.60% | 6.35% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | -148.31 | -54.88 | -10.53 | -9.37 | -4.45 | -8.20 | -7.48 | -4.53 | -8.45 | -11.01 | -5.76 | -2.54 | |||||
| P/B | 5.81 | 2.86 | 2.94 | 3.43 | 2.49 | 6.68 | 2.85 | 1.75 | 2.72 | 2.87 | 2.02 | 1.08 | |||||
| P/S TTM | 12.68 | 4.60 | 3.89 | 3.96 | 2.49 | 6.14 | 2.89 | 1.58 | 2.59 | 2.84 | 1.64 | 0.83 | |||||
| Market Cap | 6.43B | 2.10B | 1.64B | 1.46B | 768.13M | 1.53B | 605.48M | 326.34M | 531.70M | 617.16M | 359.53M | 175.75M | |||||
| Enterprise Value | 6.12B | 2.02B | 1.64B | 1.53B | 851.21M | 1.60B | 648.41M | 392.37M | 599.60M | 648.32M | 417.77M | 234.14M | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | -417.85M | -353.58M | -301.96M | -243.98M | -157.99M | -112.93M | -64.55M | -60.63M | -41.29M | -17.01M | -16.64M | -9.81M | |||||
| Net Debt | -310.19M | -76.31M | -6.84M | 69.24M | 83.09M | 67.07M | 42.93M | 66.04M | 67.90M | 31.15M | 58.23M | 58.39M | |||||
Per-Share and Margin | |||||||||||||||||
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Turnover Ratios and Averages | |||||||||||||||||
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| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
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| Dividends Paid Growth (1Y) | |||||||||||||||||
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| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
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| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
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| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
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| NOPAT TTM | |||||||||||||||||
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| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
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| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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