{"data":{"ticker":"AAOI","slug":"applied-optoelectronics","name":"Applied Optoelectronics","exchange":"NASDAQ","sector":"Technology","headquarters":"Sugar Land, TX","ceo":"Chih-Hsiang Lin","employees":4691,"website":"https://www.ao-inc.com","founded":"1997","layers":[{"slug":"networking","name":"Networking & Optics"}],"exposure":{"score":82,"tier":"Core","rationale":"Datacenter optical transceivers are the majority of revenue and the entire growth story, with Microsoft and Amazon holding warrant agreements tied to purchase commitments. The thesis depends on hyperscaler AI cluster buildouts and on scaling 800G production, while a legacy cable TV segment keeps it just below pure-play territory."},"quote":{"price":62.5,"change24hPct":-9.49,"change7dPct":-13.12,"change30dPct":-45.93,"change1yPct":89.16,"high52w":223.1,"low52w":19.49,"marketCap":5306642944,"peRatio":null,"eps":-0.75,"volume24h":935525000},"nextEarningsDate":"2026-11-05","summary":"Applied Optoelectronics designs and manufactures optical transceivers, the laser-based modules that convert electrical signals to light and back so data can move between servers and switches. It sells directly to hyperscale data center operators and also supplies broadband equipment to cable TV networks.","explainer":["Applied Optoelectronics designs and manufactures optical transceivers, the laser-based modules that convert electrical signals to light and back so data can move between servers and switches. It sells directly to hyperscale data center operators and also supplies broadband equipment to cable TV networks.","Its growth comes from 400G and 800G transceivers for AI data centers, where GPU clusters demand enormous optical bandwidth. AAOI makes its own lasers in-house, a level of vertical integration few Western rivals match, and is expanding US production. Microsoft and Amazon hold warrant agreements tied to purchase commitments, a signal of deep hyperscaler relationships.","Founded in 1997 and headquartered in Sugar Land, Texas, with manufacturing in Texas, Taiwan, and China, the company employs about 4,700 people and trades on the NASDAQ."],"buildoutRole":"Applied Optoelectronics sits in the Networking layer of the buildout. Every GPU in an AI cluster is only as useful as the network that connects it, and optical transceivers are the workhorse links between switches and servers. AAOI supplies 400G and 800G modules directly to hyperscalers racing to expand AI capacity, with in-house laser production supporting cost and supply control. Its fortunes track hyperscaler capital spending on AI data centers more than anything else in its business.","faq":[{"q":"What does Applied Optoelectronics do?","a":"Applied Optoelectronics makes optical transceivers and laser components that move data as light inside data centers, selling directly to hyperscale operators. A second, older segment supplies optical equipment for cable TV broadband networks. It manufactures in Texas, Taiwan, and China."},{"q":"How is Applied Optoelectronics exposed to AI?","a":"Datacenter transceivers for AI clusters are the majority of revenue and essentially all of the growth, driven by hyperscaler capacity buildouts. Supercycle rates it Core with an AI Exposure Score of 82 out of 100, just below pure-play territory because of the legacy cable TV business."},{"q":"Why do Microsoft and Amazon hold AAOI warrants?","a":"Both hyperscalers hold warrant agreements tied to purchase commitments, arrangements that give them equity upside as they buy AAOI transceivers at scale. The deals align major customers with the company's success and signal that its 400G and 800G products sit inside real AI infrastructure roadmaps."},{"q":"Is AAOI a pure play AI stock?","a":"Close, but not quite. Supercycle classifies it as Core with a score of 82. Datacenter optics for AI clusters dominate the business and drive the growth story, but the legacy cable TV segment keeps it a step below companies that exist entirely because of AI demand."},{"q":"Who leads Applied Optoelectronics?","a":"Founder Chih-Hsiang Lin, known as Thompson Lin, serves as CEO. He started the company in 1997 around laser technology and has kept it vertically integrated, from laser chips through finished transceivers, with headquarters in Sugar Land, Texas."}],"history1y":[{"date":"2026-09-22","close":107},{"date":"2026-09-23","close":101.06},{"date":"2026-09-24","close":101.03},{"date":"2026-09-25","close":101.4},{"date":"2026-09-28","close":96.82},{"date":"2026-09-29","close":100.67},{"date":"2026-09-30","close":99.26},{"date":"2026-10-01","close":107.32},{"date":"2026-10-02","close":115.59},{"date":"2026-10-05","close":121.57},{"date":"2026-10-06","close":130.16},{"date":"2026-10-07","close":122.54},{"date":"2026-10-08","close":105.9},{"date":"2026-10-09","close":109.64},{"date":"2026-10-12","close":100.68},{"date":"2026-10-13","close":97.78},{"date":"2026-10-14","close":86.22},{"date":"2026-10-15","close":83.73},{"date":"2026-10-16","close":75.57},{"date":"2026-10-19","close":78.2},{"date":"2026-10-20","close":76.74},{"date":"2026-10-21","close":77.32},{"date":"2026-10-22","close":68.07},{"date":"2026-10-23","close":67.51},{"date":"2026-10-26","close":71.94},{"date":"2026-10-27","close":76.95},{"date":"2026-10-28","close":82.22},{"date":"2026-10-29","close":79.19},{"date":"2026-10-30","close":69.05},{"date":"2026-11-02","close":62.5}],"incomeStatements":[{"ticker":"AAOI","report_period":"2025-12-31","fiscal_period":"2025-FY","period":"annual","currency":"USD","revenue":455715000,"cost_of_revenue":318802000,"gross_profit":136913000,"operating_expense":0,"operating_income":-49736000,"net_income":-38228000,"earnings_per_share":-0.64,"earnings_per_share_diluted":-0.64,"research_and_development":85507000,"selling_general_and_administrative_expenses":106008000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"AAOI","report_period":"2024-12-31","fiscal_period":"2024-FY","period":"annual","currency":"USD","revenue":249365000,"cost_of_revenue":187565000,"gross_profit":61800000,"operating_expense":0,"operating_income":-70513000,"net_income":-186733000,"earnings_per_share":-4.5,"earnings_per_share_diluted":-4.5,"research_and_development":54955000,"selling_general_and_administrative_expenses":77753000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"AAOI","report_period":"2023-12-31","fiscal_period":"2023-FY","period":"annual","currency":"USD","revenue":217646000,"cost_of_revenue":158725000,"gross_profit":58921000,"operating_expense":0,"operating_income":-40412000,"net_income":-56048000,"earnings_per_share":-1.75,"earnings_per_share_diluted":-1.75,"research_and_development":35975000,"selling_general_and_administrative_expenses":64295000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0},{"ticker":"AAOI","report_period":"2022-12-31","fiscal_period":"2022-FY","period":"annual","currency":"USD","revenue":222818000,"cost_of_revenue":189191000,"gross_profit":33627000,"operating_expense":0,"operating_income":-58838000,"net_income":-66397000,"earnings_per_share":-2.38,"earnings_per_share_diluted":-2.38,"research_and_development":36244000,"selling_general_and_administrative_expenses":56381000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0}],"balanceSheets":[{"ticker":"AAOI","report_period":"2025-12-31","fiscal_period":"2025-FY","period":"annual","currency":"USD","total_assets":1168423000,"current_assets":675727000,"cash_and_equivalents":206140000,"total_liabilities":434505000,"current_liabilities":257283000,"total_debt":248082000,"shareholders_equity":733918000,"retained_earnings":-490078000},{"ticker":"AAOI","report_period":"2024-12-31","fiscal_period":"2024-FY","period":"annual","currency":"USD","total_assets":547032000,"current_assets":301268000,"cash_and_equivalents":67428000,"total_liabilities":317920000,"current_liabilities":170069000,"total_debt":190860000,"shareholders_equity":229112000,"retained_earnings":-451851000},{"ticker":"AAOI","report_period":"2023-12-31","fiscal_period":"2023-FY","period":"annual","currency":"USD","total_assets":389186000,"current_assets":172605000,"cash_and_equivalents":45366000,"total_liabilities":174317000,"current_liabilities":93358000,"total_debt":121073000,"shareholders_equity":214869000,"retained_earnings":-265116000},{"ticker":"AAOI","report_period":"2022-12-31","fiscal_period":"2022-FY","period":"annual","currency":"USD","total_assets":408263000,"current_assets":183164000,"cash_and_equivalents":24685000,"total_liabilities":223593000,"current_liabilities":138582000,"total_debt":155526000,"shareholders_equity":184670000,"retained_earnings":-209068000}],"holders13f":[],"news":[]},"meta":{"version":"v1","asOf":"2026-11-02","builtAt":"2026-11-03T05:33:50.032Z","tier":"free","source":"https://supercyclehq.com/stock/applied-optoelectronics","disclaimer":"Informational only, not investment advice. The AI Exposure Score is Supercycle's editorial opinion. Agent portfolios are simulated paper portfolios run by AI.","license":"Free to use and quote with attribution to supercyclehq.com. Do not redistribute as a dataset."},"links":{"self":"https://supercyclehq.com/api/v1/stocks/AAOI","html":"https://supercyclehq.com/stock/applied-optoelectronics","md":"https://supercyclehq.com/stock/applied-optoelectronics.md","docs":"https://supercyclehq.com/api/v1/openapi.json"}}