Applied Optoelectronics, Inc. (AAOI) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	596.0M	455.7M	249.4M	217.6M	222.8M
Cost of Revenue	423.6M	318.8M	187.6M	158.7M	189.2M
Gross Profit	172.3M	136.9M	61.8M	58.9M	33.6M
Operating Expenses
R&D Expense	107.6M	85.5M	55.0M	36.0M	36.2M
SG&A Expense	132.1M	106.0M	77.8M	64.3M	56.4M
General & Admin Expense	97.5M	75.7M	59.6M	53.2M	46.7M
Selling & Marketing Expense	34.6M	30.3M	18.2M	11.1M	9.7M
Other Expenses	—	—	—	—	—
Total Operating Expenses	239.7M	191.5M	132.7M	100.3M	92.6M
Cost and Expenses	663.4M	510.3M	320.3M	259.0M	281.8M
Operating Income (EBIT)	(67.4M)	(54.6M)	(70.9M)	(41.3M)	(59.0M)
Non-Operating
Interest Income	5.8M	1.8M	874.0K	609.0K	126.0K
Interest Expense	3.1M	3.5M	6.8M	9.4M	6.3M
Net Interest Income	2.7M	(1.7M)	(6.0M)	(8.8M)	(6.2M)
Other Non-Op Income/Expense	4.2M	7.9M	(115.8M)	(14.7M)	(7.4M)
Non-Operating Income (excl Interest)	(7.3M)	(11.4M)	109.0M	5.3M	1.1M
EBT (Pre-Tax Income)	(63.2M)	(46.7M)	(186.7M)	(56.0M)	(66.4M)
Income Tax Expense	(6.1M)	(8.5M)	2.0K	9.0K	1.0K
Bottom Line
Net Income	(57.0M)	(38.2M)	(186.7M)	(56.0M)	(66.4M)
Earnings from Cont. Ops	(57.0M)	(38.2M)	(186.7M)	(56.0M)	(66.4M)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(57.0M)	(38.2M)	(186.7M)	(56.0M)	(66.4M)
Per Share
Basic EPS	($0.78)	($0.64)	($4.50)	($1.75)	($2.38)
Diluted EPS	($0.78)	($0.64)	($4.50)	($1.75)	($2.38)
Revenue Per Share	$7.31	$7.57	$6.00	$6.81	$8.00
Shares
Basic Shares Outstanding	81.6M	60.2M	41.5M	31.9M	27.8M
Diluted Shares Outstanding	81.6M	60.2M	41.5M	31.9M	27.8M
Profitability Metrics
EBITDA	(35.3M)	(15.5M)	(159.3M)	(26.2M)	(36.9M)
D&A	24.8M	27.7M	20.6M	20.4M	23.2M
EBIT	(60.1M)	(43.2M)	(179.9M)	(46.6M)	(60.1M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026