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Applied Optoelectronics, Inc. (the "Company" or "AOI") is a leading, vertically integrated provider of fiber-optic networking products, primarily for four networking end-markets: internet data center, cable television ("CATV"), telecommunications, ("telecom"), and fiber-to-the-home ("FTTH"). We design and manufacture a range of optical communications products at varying levels of integ…
$185.67
+$27.26 (+17.21%)
Price from 2 days ago
The business is unprofitable at the operating level (-11.98% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 82.8% YoY with margins expanding 16.5pp.
Negative free cash flow of -$354M. The business is consuming cash, not generating it.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$507M
▲ +82.8% YoY
Net Income (TTM)
-$43M
▲ +79.5% YoY
Op. Margin
-11.57%
▲ +16.5pp YoY
ROIC
-5.90%
▲ +14.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$418M
▼ -213.1% YoY
Op. Cash Flow (TTM)
-$209M
▼ -150.9% YoY
Net Debt
-$325M
Net Cash Position
Cash & Equiv.
$440M
5Y CAGR: +14.2%
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