Applied Optoelectronics Inc (AAOI) financials
Applied Optoelectronics revenue and earnings by year
Applied Optoelectronics's revenue was $456 million in the fiscal year to December 31, 2025, up 82.8% from the year before. Net income was -$38.2 million, -8.4% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 6.4% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 456 | 249 | 218 | 223 | 212 | 235 | 191 | 267 | 382 | 261 |
| Revenue growth | 82.8% | 14.6% | -2.3% | 5.3% | -9.8% | 22.9% | -28.6% | -30.0% | 46.6% | — |
| Gross profit | 137 | 62 | 59 | 34 | 38 | 51 | 46 | 88 | 166 | 87 |
| Gross margin | 30.0% | 24.8% | 27.1% | 15.1% | 17.8% | 21.5% | 24.2% | 32.8% | 43.5% | 33.4% |
| Operating income | -55 | -71 | -41 | -59 | -57 | -49 | -49 | -11 | 87 | 23 |
| Operating margin | -12.0% | -28.4% | -19.0% | -26.5% | -26.8% | -20.8% | -25.5% | -4.0% | 22.7% | 8.8% |
| Net income | -38 | -187 | -56 | -66 | -54 | -58 | -66 | -2 | 74 | 31 |
| Net margin | -8.4% | -74.9% | -25.8% | -29.8% | -25.6% | -24.9% | -34.6% | -0.8% | 19.3% | 12.0% |
| Diluted EPS | -$0.64 | -$4.50 | -$1.75 | -$2.38 | -$2.01 | -$2.71 | -$3.30 | -$0.11 | $3.66 | $1.69 |
| Free cash flow | -385 | -120 | -22 | -17 | -22 | -63 | -33 | -62 | 15 | 8 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open AAOI in Markets.
How Applied Optoelectronics makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Data Center | $108M | 56.1% |
| CATV | $80.6M | 42.0% |
| Telecom | $3.41M | 1.8% |
| Product & Service Other | $271K | 0.1% |
See also: AAOI returns
No forecast, no recommendation. This page describes Applied Optoelectronics Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.