Jun 2026 (Q2 FY26) — Aug 6, 2026
Applied Optoelectronics Q2 FY26 — Record Revenue and Return to Profitability Driven by AI Demand
Read the full callApplied Optoelectronics (AAOI) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Applied Optoelectronics earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 192 | +86.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -12.9 | +2.6 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -22.8 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
20 of 29 judged targets kept · 40 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Non-GAAP gross margin | 29% to 31% | Dec 2025 | In Q2, we generated non-GAAP gross margin of 29.8%, which was in line with our guidance range of 29% to 30% and compared to 29.2% in Q1 2026, and 30.4% in Q2 2025. | Achieved |
| 800G/1.6T transceiver capacity | over 200,000 per month | Jun 2025 | Looking ahead, we continue to expect by the end of this year that we will be capable of producing over 650,000 pieces of 800G and 1.6 terabit products per month. | Revised Up |
| 1.6T product ramp | begin | Dec 2024 | we expect full qualification of our first 1.6 terabit product by this customer within the next couple of weeks, followed by shipments of 1.6 terabit beginning later this quarter. | On Track |
9 of APPLIED OPTOELECTRONICS, INC.'s 69 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 66 more targets are in the full ledger.
Claimed
- Achieved fifth consecutive quarter of record revenue at $191.9 million, up 86% YoY and 27% QoQ.
- Returned to non-GAAP profitability with $0.06 non-GAAP EPS, exceeding guidance.
- 800G product revenue more than doubled sequentially to $12.8 million, representing 11.9% of data center revenue.
- CATV business delivered record revenue of $80.6 million, increasing 43.8% YoY and 20.6% QoQ.
- Secured Mediacom as a primary vendor for DOCSIS 4.0 network upgrades, expanding commercial adoption of CATV products.
Qualified
- Near-term revenue growth is bounded by production capacity and key component availability, not market demand.
- Expected decline of $20 million to $25 million in 100G business in Q3 due to a customer's inability to source sufficient 100G switches.
- Non-GAAP gross margin is expected to face a slight headwind in the short term due to data center revenue mix.
- Elevated R&D spending is anticipated to continue due to customer requests for new 800G and 1.6T product qualifications.
- Material supply constraints, particularly for DSP and TIA, are limiting 1.6T transceiver delivery to $70 million-$80 million in Q4 despite higher demand.
Price
$78.2 +3.48% · +$2.63
Performance +145.0% 1Y
1Y: $31.92 on 17 Oct 2025 → $78.2. High $223.1 (13 May 2026), low $19.49 (20 Nov 2025).
- Previous close
- $75.57
- 52-week range
- $19.49 – $223.1
- One year
- +129.06%
Overview
- Symbol
- AAOI
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
20 of 29 judged targets kept · 40 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Non-GAAP gross margin | 29% to 31% | Dec 2025 | In Q2, we generated non-GAAP gross margin of 29.8%, which was in line with our guidance range of 29% to 30% and compared to 29.2% in Q1 2026, and 30.4% in Q2 2025. | Achieved |
| 800G/1.6T transceiver capacity | over 200,000 per month | Jun 2025 | Looking ahead, we continue to expect by the end of this year that we will be capable of producing over 650,000 pieces of 800G and 1.6 terabit products per month. | Revised Up |
| 1.6T product ramp | begin | Dec 2024 | we expect full qualification of our first 1.6 terabit product by this customer within the next couple of weeks, followed by shipments of 1.6 terabit beginning later this quarter. | On Track |
Claimed
- Achieved fifth consecutive quarter of record revenue at $191.9 million, up 86% YoY and 27% QoQ.
- Returned to non-GAAP profitability with $0.06 non-GAAP EPS, exceeding guidance.
- 800G product revenue more than doubled sequentially to $12.8 million, representing 11.9% of data center revenue.
- CATV business delivered record revenue of $80.6 million, increasing 43.8% YoY and 20.6% QoQ.
- Secured Mediacom as a primary vendor for DOCSIS 4.0 network upgrades, expanding commercial adoption of CATV products.
Qualified
- Near-term revenue growth is bounded by production capacity and key component availability, not market demand.
- Expected decline of $20 million to $25 million in 100G business in Q3 due to a customer's inability to source sufficient 100G switches.
- Non-GAAP gross margin is expected to face a slight headwind in the short term due to data center revenue mix.
- Elevated R&D spending is anticipated to continue due to customer requests for new 800G and 1.6T product qualifications.
- Material supply constraints, particularly for DSP and TIA, are limiting 1.6T transceiver delivery to $70 million-$80 million in Q4 despite higher demand.
The full ledger
Open APPLIED OPTOELECTRONICS, INC.’s full ledger
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Call summaries
Dec 2025 (Q4 FY25) — Feb 26, 2026
Applied Optoelectronics Q4 FY25 — Record Revenue Driven by Strong CATV and Data Center Demand, 800G Ramp Expected Q2 FY26
Read the full callEvery analysed call
Applied Optoelectronics earnings calls (AAOI)
Financials
What the filings say
Net profit, year on year: −150% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 65 | 100 | 100 | 103 | 119 | 134 | 151 | 192 |
| Operating profit | -17 | -6 | -9 | -16 | -18 | -12 | -13 | -25 |
| Operating margin | −25.4% | −6.5% | −8.9% | −15.5% | −15.3% | −8.6% | −8.6% | −12.9% |
| Other income | -1 | -113 | -0 | 7 | 0 | 1 | -0 | 3 |
| Interest | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | -18 | -120 | -9 | -9 | -18 | -10 | -13 | -21 |
| Tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 80.7% | −7.9% | −6.0% |
| Net profit | -18 | -120 | -9 | -9 | -18 | -2 | -14 | -23 |
| EPS ($ per share) | -0.42 | — | -0.18 | -0.16 | -0.28 | — | -0.19 | -0.28 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 36 | -30 | -89 | -143 | -209 | -265 | -452 | -490 |
| Total liabilities | 138 | 193 | 203 | 200 | 224 | 174 | 318 | 435 |
| Fixed assets | 234 | 248 | 253 | 243 | 210 | 200 | 219 | 376 |
| Total assets | 467 | 467 | 481 | 454 | 408 | 389 | 547 | 1,168 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 14 | -2 | -44 | -12 | -14 | -8 | -70 | -174 |
| Cash from investing | -77 | -32 | -19 | -11 | -4 | -15 | -51 | -211 |
| Cash from financing | 35 | 43 | 47 | 14 | 11 | 41 | 142 | 528 |
| Net cash flow | -26 | 9 | -17 | -9 | -6 | 20 | 24 | 137 |
| Capital expenditure | -72 | -29 | -16 | -8 | -3 | -9 | -43 | -179 |
| Free cash flow | -58 | -31 | -60 | -20 | -17 | -17 | -113 | -354 |
AAOI revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Single Reportable | — | — | — | — | — | — | — | 100% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- TW 56% ↑ 3 pt
- CN 43% ↓ 1 pt
- US 1% ↓ 2 pt
As AAOI cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
167 filings between Oct 22, 2025 and Oct 12, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$125.60M
53 sales by 10 insiders
53% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 17
- Award — granted as compensation
- 90
- Tax withheld — shares kept back by the company to cover tax
Also filed: 5 gifts, 2 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Chang Hung-Lun (Fred) | — | $26.36M | Sep 8, 2026 |
| Yeh Shu-Hua (Joshua) | — | $21.88M | Oct 5, 2026 |
| Lin Chih-Hsiang (Thompson) | — | $19.87M | Jun 12, 2026 |
| Murry Stefan J. | — | $16.90M | Oct 12, 2026 |
| Kuo David C | — | $13.15M | Jun 12, 2026 |
| DeLaney Cynthia | — | $12.76M | May 26, 2026 |
| Loboa Elizabeth G | — | $9.93M | Mar 3, 2026 |
| Chen Min-Chu (Mike) | — | $2.86M | Jun 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 12, 2026 | Murry Stefan J. Chief Financial Officer | Sale 10b5-1 plan | 4,000 | $411.5K |
| Oct 5, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Sale 10b5-1 plan | 6,000 | $720.2K |
| Sep 15, 2026 | BLACK RICHARD B Director | Gift | 2,200 | $0 |
| Sep 10, 2026 | Murry Stefan J. Chief Financial Officer | Sale 10b5-1 plan | 4,000 | $421.3K |
| Sep 8, 2026 | Chang Hung-Lun (Fred) *** See Remarks | Sale | 32,172 | $3.55M |
| Aug 18, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Sale 10b5-1 plan | 6,000 | $886.4K |
| Aug 10, 2026 | Murry Stefan J. Chief Financial Officer | Sale 10b5-1 plan | 4,000 | $579.2K |
| Aug 4, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Sale 10b5-1 plan | 4,715 | $596.4K |
| Jul 31, 2026 | Lin Chih-Hsiang (Thompson) President and CEO | Award | 9,251 | $0 |
| Jul 22, 2026 | Chang Hung-Lun (Fred) *** See Remarks | Tax withheld | 2,674 | $318.9K |
| Jul 22, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Tax withheld 10b5-1 plan | 609 | $72.6K |
| Jul 22, 2026 | Kuo David C *** See Remarks | Tax withheld | 407 | $48.5K |
| Jul 22, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Tax withheld 10b5-1 plan | 2,553 | $304.5K |
| Jul 22, 2026 | Chang Hung-Lun (Fred) *** See Remarks | Tax withheld | 613 | $73.1K |
| Jul 22, 2026 | Kuo David C *** See Remarks | Tax withheld | 516 | $61.5K |
| Jul 22, 2026 | Kuo David C *** See Remarks | Tax withheld | 1,869 | $222.9K |
| Jul 22, 2026 | Murry Stefan J. Chief Financial Officer | Tax withheld | 988 | $117.8K |
| Jul 22, 2026 | Lin Chih-Hsiang (Thompson) President and CEO | Tax withheld | 8,753 | $1.04M |
| Jul 22, 2026 | Murry Stefan J. Chief Financial Officer | Tax withheld | 679 | $81.0K |
| Jul 22, 2026 | Murry Stefan J. Chief Financial Officer | Tax withheld | 770 | $91.8K |
| Jul 22, 2026 | Lin Chih-Hsiang (Thompson) President and CEO | Tax withheld | 2,332 | $278.1K |
| Jul 22, 2026 | Kuo David C *** See Remarks | Tax withheld | 472 | $56.3K |
| Jul 22, 2026 | Murry Stefan J. Chief Financial Officer | Tax withheld | 2,971 | $354.3K |
| Jul 22, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Tax withheld 10b5-1 plan | 861 | $102.7K |
| Jul 22, 2026 | Lin Chih-Hsiang (Thompson) President and CEO | Tax withheld | 2,031 | $242.2K |
| Jul 22, 2026 | Lin Chih-Hsiang (Thompson) President and CEO | Tax withheld | 2,524 | $301.0K |
| Jul 22, 2026 | Chang Hung-Lun (Fred) *** See Remarks | Tax withheld | 616 | $73.5K |
| Jul 22, 2026 | Chang Hung-Lun (Fred) *** See Remarks | Tax withheld | 773 | $92.2K |
| Jul 22, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Tax withheld 10b5-1 plan | 686 | $81.8K |
| Jul 21, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Sale 10b5-1 plan | 1,285 | $154.2K |
| Jul 10, 2026 | Murry Stefan J. Chief Financial Officer | Sale 10b5-1 plan | 4,000 | $488.4K |
| Jun 18, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Sale 10b5-1 plan | 6,000 | $1.03M |
| Jun 17, 2026 | Chang Hung-Lun (Fred) *** See Remarks | Sale 10b5-1 plan | 40,329 | $6.88M |
| Jun 12, 2026 | Murry Stefan J. Chief Financial Officer | Sale | 33,000 | $5.50M |
| Jun 12, 2026 | Murry Stefan J. Chief Financial Officer | Tax withheld | 30,330 | $5.24M |
| Jun 12, 2026 | Lin Chih-Hsiang (Thompson) President and CEO | Sale | 59,000 | $9.83M |
| Jun 12, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Sale | 28,826 | $4.80M |
| Jun 12, 2026 | Kuo David C *** See Remarks | Sale | 29,227 | $4.87M |
| Jun 12, 2026 | Lin Chih-Hsiang (Thompson) President and CEO | Tax withheld | 86,655 | $14.97M |
| Jun 12, 2026 | Chang Hung-Lun (Fred) *** See Remarks | Tax withheld | 27,297 | $4.72M |
| Jun 12, 2026 | Kuo David C *** See Remarks | Tax withheld | 19,065 | $3.29M |
| Jun 12, 2026 | Chang Hung-Lun (Fred) *** See Remarks | Sale | 34,000 | $5.66M |
| Jun 12, 2026 | Yeh Shu-Hua (Joshua) *** See Remarks | Tax withheld | 23,397 | $4.04M |
| Jun 10, 2026 | Murry Stefan J. Chief Financial Officer | Sale 10b5-1 plan | 4,000 | $685.8K |
| Jun 9, 2026 | Yeh William H Director | Award | 1,166 | $0 |
| Jun 9, 2026 | DeLaney Cynthia Director | Award | 1,166 | $0 |
| Jun 9, 2026 | BLACK RICHARD B Director | Award | 1,166 | $0 |
| Jun 9, 2026 | Lin Che-Wei Director | Award | 1,166 | $0 |
| Jun 9, 2026 | Flanagan Robert James Director | Award | 1,166 | $0 |
| Jun 9, 2026 | Chen Min-Chu (Mike) Director | Award | 1,166 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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