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Applied Optoelectronics

AAOI

Applied Optoelectronics, Inc. (AOI) is a vertically integrated manufacturer of fiber-optic networking products for internet data centers, cable television (CATV), telecommunications, and fiber-to-the-home (FTTH) markets.

Market cap
$7.85B+506%
Revenue$507.0M+64.3%
Net income-$43.3M+74.9%
Free cash flow-$417.9M-164%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$190.5M
EPS estimate$0.03

Financials

Q1 2026

Income statement

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Revenue$151.1M+51.4%
Net income-$14.3M-55.7%

Balance sheet

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Cash & equivalents$439.7M+760%
Total debt$115.1M+280%
Total equity$1.1B+258%
Total assets$1.6B+143%

Cash flow

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Operating cash flow-$85.4M-67.6%
CapEx$58.2M+105%
Free cash flow-$143.6M-81.0%

Valuation & ratios

Valuation

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Market cap$7.85B+506%
Enterprise value$7.52B+439%
P/S15.5×+11.6×

Profitability

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Net margin-8.5%-3.9pp
FCF margin-82.4%+129pp

Returns & leverage

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Return on equity-6.1%-2.9pp
Debt / equity0.1×0.0×
Current ratio3.8×+1.9×

Segments

By geography

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TW$80.9M+14.2%
CN$69.3M+149%
US$877.0K-23.7%

By product

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Data Center$81.4M+154%
CATV$66.8M+3.6%
Telecom$2.6M-12.9%

Competitors

Profile

Applied Optoelectronics, Inc. (AOI) is a vertically integrated manufacturer of fiber-optic networking products for internet data centers, cable television (CATV), telecommunications, and fiber-to-the-home (FTTH) markets. The company designs and produces foundational laser components, subassemblies, and complete turn-key equipment to meet increasing global bandwidth demands. Its core value proposition lies in its in-house manufacturing capabilities and domestic laser chip production, which enable rapid product development and quality control.

Competitive position

A leading vertically integrated provider with unique domestic U.S. laser chip manufacturing capabilities and proprietary MBE and MOCVD fabrication processes.

GeographiesUnited States, China, Taiwan
Customer segmentsHyperscale data center operators, Cable television MSOs, Telecom network operators
Business modelVertical integration manufacturing, Original Design Manufacturer (ODM), Direct-to-customer sales
SuppliersMolecular Beam Epitaxy (MBE) equipment, Metal Organic Chemical Vapor Deposition (MOCVD) equipment, Semiconductor raw materials, Specialized production robotics
CustomersHyperscale cloud providers, Cable television service providers, 5G network operators, Network equipment manufacturers
Listed2013
Employees2.1K
CEOChih-Hsiang Lin
Websiteao-inc.com
FilingsSEC EDGAR

Questions, answered.

What is Applied Optoelectronics's market cap?
Applied Optoelectronics (AAOI) has a market capitalization of $7.8B and trades on NASDAQ.
What is Applied Optoelectronics's revenue and profitability?
Applied Optoelectronics generated $507.0M in trailing twelve-month revenue with a net loss of $43.3M, representing a net margin of -8.5%. Gross margin stands at 22.7%, with free cash flow of -$417.9M. These figures are based on the Q1 2026 filing.
Who are Applied Optoelectronics's competitors?
Applied Optoelectronics's key competitors include Coherent Corporation, Lumentum Holdings, Inc., MACOM Technology Solutions Holdings, Inc, and others. These companies compete in similar markets and product categories.
Who does Applied Optoelectronics partner with?
Applied Optoelectronics's notable partners include Digicomm, Microsoft, Oracle, and others.
What subsidiaries does Applied Optoelectronics have?
Applied Optoelectronics's subsidiaries include Prime World International Holdings, Ltd., Global Technology, Inc..
Where is Applied Optoelectronics headquartered?
Applied Optoelectronics is headquartered in United States of America and employs approximately 2,149 people. It has been publicly traded since 2013.