AAOIAPPLIED OPTOELECTRONICS, INC.
Semiconductors & Related Devices
- Revenue
- $456M
- 83% YoY
- Operating margin
- -12.0%
- 58% YoY
- EBITDA
- −$27M
- 46% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$466M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear3% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $212M | $223M | $218M | $249M | $456M | 83% |
| Operating income | −$57M | −$59M | −$41M | −$71M | −$55M | 23% |
| Net income | −$54M | −$66M | −$56M | −$187M | −$38M | 80% |
| Operating cash flow | −$12M | −$14M | −$8M | −$70M | −$174M | 151% |
| Capex | $8M | $3M | $9M | $43M | $179M | 313% |
| Stock-based comp | $12M | $10M | $12M | $15M | $12M | 21% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $7M · 7
- Net
- −$7M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $5M | −$3M | 410 | 113 |
| FY2024 | $4M | $33M | 433 | 92 |
| FY2023 | $6M | $38M | 227 | 89 |
| FY2022 | $2M | $457K | 22 | 95 |
| FY2021 | $4M | $3M | 60 | 138 |