AAOI on Nasdaq
Applied Optoelectronics
Company in Sugar Land, United States.1
Price unavailable
Last updated Oct 16, 2026.
Overview
1997Founded1
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- TickerAAOI on Nasdaq1
- Industrysemiconductor industry1
- HeadquartersSugar Land1
- Websiteao-inc.com
- Incorporated inDE3
- Business address13139 Jess Pirtle Blvd, Sugar Land, Tx 774783
- Filer categoryLarge accelerated filer3
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
30.0%Gross margin5
-12.0%Operating margin5
-8.4%Net margin5
82.8%Revenue growth, 20255
-5.2%Return on equity5
0.00×Debt to equity5
-$353.6MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
CATV brought in 54% of the revenue Applied Optoelectronics broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| CATV | $59.9M | $87.7M | $245.1M |
| Data Center | $141.2M | $148.5M | $195.7M |
| Telecom | $13.8M | $11.0M | $13.7M |
| FTTH and Other | $2.7M | $2.1M | $1.2M |
Regions
China brought in 58% of the revenue Applied Optoelectronics broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| China | $43.3M | $111.8M | $262.1M |
| Taiwan | $143.5M | $126.6M | $174.2M |
| United States | $30.8M | $10.9M | $19.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue70¢$318.8M
- Research and development19¢$85.5M
- Other costs9¢$42.9M
- Income tax2¢$8.5M
Out of $455.7M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue, net | $455.7M | $249.4M | $217.6M |
| Cost of goods sold | $318.8M | $187.6M | $158.7M |
| Gross profit | $136.9M | $61.8M | $58.9M |
| Research and development | $85.5M | $55.0M | $36.0M |
| Sales and marketing | $30.3M | $18.2M | $11.1M |
| General and administrative | $75.7M | $59.6M | $53.2M |
| Total operating expenses | $191.5M | $132.7M | $100.3M |
| Loss from operations | -$54.6M | -$70.9M | -$41.3M |
| Interest income | $1.8M | $874.0K | $609.0K |
| Interest expense | -$3.5M | -$6.8M | -$9.4M |
| Other income (expense), net | $9.6M | -$109.9M | -$5.9M |
| Total other income (expense), net | $7.9M | -$115.8M | -$14.7M |
| Loss before income taxes | -$46.7M | -$186.7M | -$56.0M |
| Income tax benefit (expense) | $8.5M | -$2.0K | -$9.0K |
| Net loss | -$38.2M | -$186.7M | -$56.0M |
| Basic (in dollars per share) | -$0.64 | -$4.50 | -$1.75 |
| Diluted (in dollars per share) | -$0.64 | -$4.50 | -$1.75 |
| Basic (in shares) | 60.2M shares | 41.5M shares | 31.9M shares |
| Diluted (in shares) | 60.2M shares | 41.5M shares | 31.9M shares |
Every line of the balance sheet in the latest annual report, as filed.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $206.1M | $67.4M | |
| Restricted cash | $9.9M | $11.7M | |
| Accounts receivable, net | $244.4M | $116.8M | |
| Inventories | $183.1M | $88.1M | |
| Prepaid expenses and other current assets | $32.2M | $17.2M | |
| Total current assets | $675.7M | $301.3M | |
| Property, plant and equipment, net | $376.1M | $219.2M | |
| Land use rights, net | $4.8M | $4.8M | |
| Operating right of use asset | $49.7M | $9.6M | |
| Intangible assets, net | $3.6M | $3.7M | |
| Other assets, net | $58.5M | $8.4M | |
| TOTAL ASSETS | $1.2B | $547.0M | |
| Accounts payable | $143.9M | $105.0M | |
| Bank acceptance payable | $33.4M | $19.3M | |
| Accrued liabilities | $42.5M | $22.1M | |
| Current lease liability - operating | $3.5M | $1.4M | |
| Current portion of notes payable and long-term debt | $34.0M | $22.4M | |
| Total current liabilities | $257.3M | $170.1M | |
| Convertible senior notes | $129.8M | $134.5M | |
| Non-current lease liability - operating | $47.4M | $9.0M | |
| Long-term debt | $0 | $4.3M | |
| TOTAL LIABILITIES | $434.5M | $317.9M | |
| Preferred Stock: 5,000 shares authorized at $0.001 par value; no shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $0 | $0 | |
| Common Stock; 120,000 shares authorized at $0.001 par value, 74,998 shares issued and outstanding at December 31, 2025; 80,000 shares authorized at $0.001 par value and, 49,393 shares issued at December 31, 2024, respectively | $75.0K | $49.0K | |
| Additional paid-in capital | $1.2B | $683.5M | |
| Accumulated other comprehensive loss | -$617.0K | -$2.5M | |
| Accumulated deficit | -$490.1M | -$451.9M | |
| TOTAL STOCKHOLDERS' EQUITY | $733.9M | $229.1M | $214.9M |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $1.2B | $547.0M | |
| Preferred stock, shares authorized (in shares) | 5.0M shares | 5.0M shares | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 120.0M shares | 80.0M shares | |
| Common stock, shares issued (in shares) | 75.0M shares | 49.4M shares | |
| Common stock, shares outstanding (in shares) | 75.0M shares | 49.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$38.2M | -$186.7M | -$56.0M |
| Allowance for credit losses | $4.0K | -$2.0K | -$24.0K |
| Inventory reserve adjustment | $7.8M | $3.4M | $8.7M |
| Depreciation and amortization | $27.7M | $20.6M | $20.4M |
| Amortization of debt issuance cost and premium | -$1.0M | $1.4M | $2.3M |
| Gain on disposal of assets | $38.0K | $132.0K | $51.0K |
| Share-based compensation | $11.7M | $14.8M | $11.9M |
| Deferred income tax | -$7.6M | $0 | $0 |
| Loss on debt extinguishment | $0 | $112.0M | $0 |
| Warrants contra revenue | $823.0K | $0 | $0 |
| Unrealized foreign exchange loss (gain) | $272.0K | $689.0K | -$1.3M |
| Accounts receivable, trade | -$127.6M | -$68.5M | $13.2M |
| Inventories | -$100.7M | -$29.4M | $6.8M |
| Other current assets | -$13.5M | -$12.0M | $1.0M |
| Operating right of use asset | -$40.9M | -$5.0M | $530.0K |
| Accounts payable | $39.0M | $72.1M | -$15.0M |
| Accrued liabilities | $26.5M | $3.8M | $1.3M |
| Unearned Revenue | $0 | -$1.8M | -$1.2M |
| Lease liability | $41.3M | $5.0M | -$660.0K |
| Net cash provided by (used in) operating activities | -$174.4M | -$69.5M | -$7.9M |
| Purchase of property, plant and equipment | -$179.1M | -$43.4M | -$9.1M |
| Proceeds from disposal of equipment | $5.0K | $7.0K | $135.0K |
| Deposits and prepayment for equipment | -$31.1M | -$6.8M | -$5.2M |
| Purchase of intangible assets | -$379.0K | -$506.0K | -$588.0K |
| Net cash used in investing activities | -$210.6M | -$50.7M | -$14.8M |
| Proceeds from line of credit borrowings | $61.2M | $48.7M | $57.6M |
| Repayments of line of credit borrowings | -$55.0M | -$45.0M | -$172.0M |
| Proceeds from bank acceptance payable | $121.4M | $44.2M | $57.1M |
| Repayments of bank acceptance payable | -$108.0M | -$40.2M | -$53.7M |
| Payment on issuance convertible Notes | -$81.0K | -$4.6M | $0 |
| Process from issuance of convertible senior notes, net of debt issuance cost | $0 | $0 | $83.7M |
| Principal payments of financing lease | $0 | $0 | -$63.0K |
| Exercise of stock options | $0 | -$2.0K | $22.0K |
| Payments of tax withholding on behalf of employees related to share-based compensation | -$10.5M | -$4.3M | -$956.0K |
| Proceeds from common stock offering, net | $518.9M | $146.3M | $69.0M |
| Net cash provided by financing activities | $527.9M | $142.2M | $40.6M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $136.9M | $24.0M | $19.5M |
| Effect of exchange rate changes on cash | -$6.0M | $2.1M | $1.6M |
| Interest | $2.5M | $4.9M | $8.1M |
| U.S. Federal | $0 | $0 | $0 |
| U.S. State and Local | $2.0K | $2.0K | $1.0K |
| Foreign | $0 | $0 | $8.0K |
| Net change in accounts payable related to property and equipment additions | $4.7M | $1.1M | $1.1M |
| Net change in deposits and prepaid for equipment related to property and equipment additions | -$15.7M | $79.0K | -$1.3M |
Former names
- APPLIED OPTOELECTRONICS INCDec 15, 2006 to Sep 18, 20123
Timeline
- 1997Founded Founded1
Recent filings
- Oct 14, 20264
- Oct 13, 2026144
- Oct 7, 20264
- Oct 5, 2026144
- Sep 17, 20264
- Sep 15, 20268-K
- Sep 10, 2026144
- Sep 10, 20268-K CURRENT REPORT
- Sep 10, 20264
- Sep 10, 20264
- Sep 9, 2026144
- Sep 1, 20268-K CURRENT REPORT
- Aug 24, 20268-K
- Aug 21, 2026424B5
- Aug 21, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websiteao-inc.com1
- LinkedInwww.linkedin.com/company/appliedopto1
- WikidataQ30297735
- SEC EDGARCIK 1158114
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 4Company websiteApplied Optoelectronics photo
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