AAOI
$76.74-1.87%
Applied Optoelectronics Inc.Stock · TechnologyNasdaq Composite · 0.03% of ONEQRussell 1000 · 0.02% of IWBRussell 3000 · 0.02% of IWVUS Stock Market · 0.02% of VTI
AAOI financial statements
The full income statement, balance sheet, and cash-flow statement for Applied Optoelectronics Inc. (AAOI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 40.9M2024-09 45.1M2024-12 49.7M2025-03 55.5M2025-06 62.4M2025-09 68.3M2025-12 75.2M2026-03 80.2M2026-06 84.6M+106.8% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 456M+82.8% | 249M+14.6% | 218M-2.3% | 223M+5.3% | 212M-9.8% | |
| 137M+121.5% | 61.8M+4.9% | 58.9M+75.2% | 33.6M-10.8% | 37.7M-25.4% | ||
| Cost of revenue | 319M+70.0% | 188M+18.2% | 159M-16.1% | 189M+8.8% | 174M-5.6% | |
| 192M+44.3% | 133M+32.4% | 100M+8.3% | 92.6M-2.0% | 94.5M-4.9% | ||
| Research & development | 85.5M+55.6% | 55.0M+52.8% | 36.0M-0.7% | 36.2M-12.1% | 41.2M-5.0% | |
| Selling, general & administrative | 75.7M+27.1% | 59.6M+12.0% | 53.2M+14.1% | 46.7M+10.1% | 42.4M+1.1% | |
| General & administrative | 75.7M+27.1% | 59.6M+12.0% | 53.2M+14.1% | 46.7M+10.1% | 42.4M+1.1% | |
| Selling & marketing | 30.3M+66.7% | 18.2M+64.0% | 11.1M+13.8% | 9.72M-10.8% | 10.9M-22.6% | |
| Amortization of intangibles | 400K+0.0% | 400K-42.9% | 700K+16.7% | 600K+20.0% | 500K+0.0% | |
| Provision for credit losses | 4.00K+300.0% | -2.00K+91.7% | -24.0K-700.0% | -3.00K+90.6% | -32.0K-200.0% | |
| Operating income | -54.6M+23.0% | -70.9M-71.5% | -41.3M+29.9% | -59.0M-3.9% | -56.8M-16.2% | |
| Interest expense | 3.50M-48.8% | 6.83M-27.6% | 9.43M+49.2% | 6.32M+12.4% | 5.62M-0.3% | |
| Interest & investment income | 1.79M+105.0% | 874K+43.5% | 609K+383.3% | 126K+80.0% | 70.0K-72.5% | |
| Other non-operating income | 9.60M+108.7% | -110M-1771.4% | -5.87M-387.2% | -1.21M-114.8% | 8.16M+172.0% | |
| Pre-tax income | -46.7M+75.0% | -187M-233.2% | -56.0M+15.6% | -66.4M-22.6% | -54.2M-5.7% | |
| Income tax | -8.48M-423900.0% | 2.00K-77.8% | 9.00K+800.0% | 1.00K-50.0% | 2.00K-100.0% | |
| Net income | -38.2M+79.5% | -187M-233.2% | -56.0M+15.6% | -66.4M-22.6% | -54.2M+7.3% | |
| -$0.64+85.8% | -$4.50-157.1% | -$1.75+26.5% | -$2.38-18.4% | -$2.01+24.7% | ||
| EPS (basic) | -$0.64+85.8% | -$4.50-157.1% | -$1.75+26.5% | -$2.38-18.4% | -$2.01+24.7% | |
| Weighted-avg shares (basic) | 60.2M+44.9% | 41.5M+30.0% | 31.9M+14.7% | 27.8M+3.5% | 26.9M+23.1% | |
| Weighted-avg shares (diluted) | 60.2M+44.9% | 41.5M+30.0% | 31.9M+14.7% | 27.8M+3.5% | 26.9M+23.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 676M+124.3% | 301M+74.5% | 173M-5.8% | 183M-5.6% | 194M-7.2% | ||
| Cash & equivalents | 206M+205.7% | 67.4M+48.6% | 45.4M+83.8% | 24.7M-28.8% | 34.7M-20.2% | |
| Accounts receivable | 244M+109.2% | 117M+143.0% | 48.1M-21.4% | 61.2M+27.6% | 47.9M+11.4% | |
| Inventory | 183M+107.8% | 88.1M+38.0% | 63.9M-19.8% | 79.7M-13.9% | 92.5M-16.2% | |
| Prepaid expenses | 32.2M+87.1% | 17.2M+221.5% | 5.35M-16.2% | 6.38M+47.3% | 4.33M-16.9% | |
| 1.17B+113.6% | 547M+40.6% | 389M-4.7% | 408M-10.2% | 454M-5.5% | ||
| Property, plant & equipment | 376M+71.5% | 219M+9.4% | 200M-4.7% | 210M-13.5% | 243M-3.9% | |
| Operating lease right-of-use | 49.7M+415.2% | 9.65M+91.9% | 5.03M-9.7% | 5.57M-21.4% | 7.08M-8.4% | |
| Intangible assets | 3.62M-1.5% | 3.68M+1.4% | 3.63M-1.9% | 3.70M-3.6% | 3.84M-4.1% | |
| Deferred tax assets | 7.62M | — | — | — | — | |
| Other non-current assets | 50.9M+508.2% | 8.37M+224.3% | 2.58M+568.4% | 386K-25.5% | 518K-47.3% | |
| 257M+51.3% | 170M+82.2% | 93.4M-32.6% | 139M+27.2% | 109M+5.6% | ||
| Accounts payable | 144M+37.1% | 105M+219.1% | 32.9M-31.3% | 47.8M+39.1% | 34.4M+16.7% | |
| Accrued liabilities | 42.5M+92.3% | 22.1M+19.1% | 18.5M+7.7% | 17.2M+10.5% | 15.6M-15.8% | |
| Deferred revenue | — | 0.00-100.0% | 1.80M-39.9% | 3.00M+1438.5% | 195K-35.6% | |
| Short-term & current debt | 34.0M+51.9% | 22.4M-3.6% | 23.2M-59.4% | 57.1M+14.9% | 49.7M+29.9% | |
| Current lease liability | 3.52M+155.2% | 1.38M+20.1% | 1.15M+10.4% | 1.04M-2.0% | 1.06M+4.9% | |
| Finance lease liability (current) | — | — | 0.00-100.0% | 63.0K+231.6% | 19.0K+5.6% | |
| 435M+36.7% | 318M+82.4% | 174M-22.0% | 224M+11.9% | 200M-1.5% | ||
| Long-term debt | 0.00-100.0% | 4.31M | 0.00 | 0.00-100.0% | 5.00M-64.0% | |
| Deferred revenue (non-current) | — | — | — | 0.00 | — | |
| Non-current lease liability | 47.4M+424.2% | 9.04M+91.3% | 4.73M-14.2% | 5.50M-23.4% | 7.19M-9.3% | |
| Operating lease liability (total) | 50.9M+388.6% | 10.4M+77.4% | 5.88M-10.3% | 6.55M-20.7% | 8.25M-7.7% | |
| Finance lease liability (total) | — | — | 0.00-100.0% | 63.0K-23.2% | 82.0K-18.0% | |
| Finance lease liability | — | — | — | 0.00-100.0% | 63.0K-23.2% | |
| 734M+220.3% | 229M+6.6% | 215M+16.4% | 185M-27.5% | 255M-8.4% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 75.0K+53.1% | 49.0K+28.9% | 38.0K+31.0% | 29.0K+7.4% | 27.0K+8.0% | |
| Additional paid-in capital | 1.22B+79.2% | 683M+42.7% | 479M+22.3% | 392M+2.7% | 381M+7.5% | |
| Retained earnings | -490M-8.5% | -452M-70.4% | -265M-26.8% | -209M-46.5% | -143M-61.2% | |
| Accumulated other comprehensive income | -617K+75.8% | -2.55M-361.3% | 975K-55.3% | 2.18M-86.4% | 16.1M+37.5% | |
| Total liabilities & equity | 1.17B+113.6% | 547M+40.6% | 389M-4.7% | 408M-10.2% | 454M-5.5% | |
| Common shares issued | 75.0M+51.8% | 49.4M+29.5% | 38.1M+33.3% | 28.6M+4.8% | 27.3M+8.8% | |
| Common shares outstanding | 75.0M+51.8% | 49.4M+29.5% | 38.1M+33.3% | 28.6M+4.8% | 27.3M+8.8% | |
| Shares outstanding (cover) | 75.2M+51.5% | 49.7M+29.3% | 38.4M+32.5% | 29.0M+5.3% | 27.5M+3.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -174M-150.9% | -69.5M-776.9% | -7.93M+43.5% | -14.0M-20.4% | -11.6M+73.5% | ||
| Depreciation & amortization | 27.7M+34.1% | 20.6M+1.1% | 20.4M-12.0% | 23.2M-8.5% | 25.4M+2.6% | |
| Intangible amortization | 400K+0.0% | 400K-42.9% | 700K+16.7% | 600K+20.0% | 500K+0.0% | |
| Share-based compensation | 11.7M-20.8% | 14.8M+24.5% | 11.9M+23.8% | 9.60M-20.8% | 12.1M-7.1% | |
| Deferred income taxes | -8.48M | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Change in receivables | 128M+86.2% | 68.5M+618.7% | -13.2M-203.6% | 12.7M+81.6% | 7.02M-16.6% | |
| Change in inventory | 101M+242.5% | 29.4M+533.2% | -6.79M-490.4% | -1.15M+92.7% | -15.8M-166.7% | |
| Change in payables | 39.0M-45.9% | 72.1M+582.0% | -15.0M-215.3% | 13.0M+83.4% | 7.07M+311.2% | |
| -211M-315.4% | -50.7M-243.5% | -14.8M-285.0% | -3.83M+63.6% | -10.5M+45.5% | ||
| Capital expenditure | 179M+312.7% | 43.4M+378.1% | 9.08M+182.8% | 3.21M-59.8% | 7.98M-49.5% | |
| Free cash flow | -354M-213.1% | -113M-564.0% | -17.0M+1.3% | -17.2M+12.2% | -19.6M+67.2% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 5.00K-28.6% | 7.00K-94.8% | 135K-66.5% | 403K+253.5% | 114K-47.2% | |
| 528M+271.3% | 142M+250.4% | 40.6M+277.4% | 10.8M-23.7% | 14.1M-70.3% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 519M+254.7% | 146M+112.1% | 69.0M+5472.2% | 1.24M-92.0% | 15.4M-60.7% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 137M+469.6% | 24.0M+23.2% | 19.5M+451.5% | -5.55M+38.2% | -8.98M+46.9% | |
| Interest paid | 2.48M-49.7% | 4.94M-39.0% | 8.10M+57.5% | 5.14M+5.0% | 4.90M-1.4% | |
| Income taxes paid | — | 0.00-100.0% | 9.00K | 0.00-100.0% | 1.00K+100.3% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 2.62B+43.2% | 1.83B+166.6% | 687M+1173.5% | 53.9M-61.9% | 141M-37.8% | |
| P/S | 5.8×-21.6% | 7.3×+133.9% | 3.1×+1155.3% | 0.2×-62.6% | 0.7×-31.0% | |
| P/B | 3.6×-55.3% | 8.0×+107.5% | 3.8×+1317.7% | 0.3×-51.1% | 0.6×-32.1% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: AAOI’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AAOI filings on SEC EDGAR → Not investment advice.