APPLIED OPTOELECTRONICS, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $455.7M | $249.4M | $217.6M | $222.8M | $211.6M |
| Cost of revenue | $318.8M | $187.6M | $158.7M | $189.2M | $173.8M |
| Gross profit | $136.9M | $61.8M | $58.9M | $33.6M | $37.7M |
| Research and development | $85.5M | $55.0M | $36.0M | $36.2M | $41.2M |
| Operating expenses | $191.5M | $132.7M | $100.3M | $92.6M | $94.5M |
| Operating income | -$54.6M | -$70.9M | -$41.3M | -$59.0M | -$56.8M |
| Interest expense | $3.5M | $6.8M | $9.4M | $6.3M | $5.6M |
| Pretax income | -$46.7M | -$186.7M | -$56.0M | -$66.4M | -$54.2M |
| Income tax expense | -$8.5M | $2,000 | $9,000 | $1,000 | $2,000 |
| Net income | -$38.2M | -$186.7M | -$56.0M | -$66.4M | -$54.2M |
| Balance Sheet | |||||
| Cash and equivalents | $206.1M | $67.4M | $45.4M | $24.7M | $34.7M |
| Current assets | $675.7M | $301.3M | $172.6M | $183.2M | $194.1M |
| Total assets | $1.2B | $547.0M | $389.2M | $408.3M | $454.5M |
| Current liabilities | $257.3M | $170.1M | $93.4M | $138.6M | $109.0M |
| Total liabilities | $434.5M | $317.9M | $174.3M | $223.6M | $199.9M |
| Total debt | $34.0M | $26.7M | $23.2M | $58.2M | $54.7M |
| Stockholders' equity | $733.9M | $229.1M | $214.9M | $184.7M | $254.6M |
| Cash Flow Statement | |||||
| Cash from operations | -$174.4M | -$69.5M | -$7.9M | -$14.0M | -$11.6M |
| Depreciation and amortization | $27.2M | $20.2M | $19.7M | $22.6M | $24.8M |
| Stock-based compensation | $11.7M | $14.8M | $11.9M | $9.6M | $12.1M |
| Capital expenditure | $179.1M | $43.4M | $9.1M | $3.2M | $8.0M |
| Free cash flow | -$353.6M | -$112.9M | -$17.0M | -$17.2M | -$19.6M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 80.2M · Free float 94.7%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.