AAOI on Nasdaq
Applied Optoelectronics
Logo: ao-inc.com4
American semiconductor company based in Sugar Land, incorporated in Delaware1
In its 2026 annual report the company says: “Applied Optoelectronics, Inc. is a leading, vertically integrated provider of fiber-optic networking products, primarily for four networking end-markets: internet data center, cable television, telecommunications, and fiber-to-the-home. We design and manufacture a range of optical communications products at varying levels of integration, from components, subassemblies and modules to complete turn-key equipment.”7 Its shares trade on Nasdaq under the symbol AAOI.1
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Last updated Oct 21, 2026.
Overview
1997Founded1
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- TickerAAOI on Nasdaq1
- Industrysemiconductor industry1
- HeadquartersSugar Land1
- Websiteao-inc.com
- Incorporated inDE5
- Business address13139 Jess Pirtle Blvd, Sugar Land, Tx 774785
- Filer categoryLarge accelerated filer5
- Legal formCorporation3
- LEI529900I8U6Q5SYDNLT483
- StatusActive3
- LEI statusLapsed (not renewed)3
- Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States3
- Registered withDivision of Corporations, Department of State, 53089313
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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 integration, from components, subassemblies and modules to complete turn-key equipment.7 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
30.0%Gross margin8
-12.0%Operating margin8
-8.4%Net margin8
82.8%Revenue growth, 20258
-5.2%Return on equity8
0.00×Debt to equity8
-$353.6MFree cash flow8
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
CATV brought in 54% of the revenue Applied Optoelectronics broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| CATV | $59.9M | $87.7M | $245.1M |
| Data Center | $141.2M | $148.5M | $195.7M |
| Telecom | $13.8M | $11.0M | $13.7M |
| FTTH and Other | $2.7M | $2.1M | $1.2M |
Regions
China brought in 58% of the revenue Applied Optoelectronics broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| China | $43.3M | $111.8M | $262.1M |
| Taiwan | $143.5M | $126.6M | $174.2M |
| United States | $30.8M | $10.9M | $19.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue70¢$318.8M
- Research and development19¢$85.5M
- Other costs9¢$42.9M
- Income tax2¢$8.5M
Out of $455.7M in revenue.8 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue, net | $455.7M | $249.4M | $217.6M |
| Cost of goods sold | $318.8M | $187.6M | $158.7M |
| Gross profit | $136.9M | $61.8M | $58.9M |
| Research and development | $85.5M | $55.0M | $36.0M |
| Sales and marketing | $30.3M | $18.2M | $11.1M |
| General and administrative | $75.7M | $59.6M | $53.2M |
| Total operating expenses | $191.5M | $132.7M | $100.3M |
| Loss from operations | -$54.6M | -$70.9M | -$41.3M |
| Interest income | $1.8M | $874.0K | $609.0K |
| Interest expense | -$3.5M | -$6.8M | -$9.4M |
| Other income (expense), net | $9.6M | -$109.9M | -$5.9M |
| Total other income (expense), net | $7.9M | -$115.8M | -$14.7M |
| Loss before income taxes | -$46.7M | -$186.7M | -$56.0M |
| Income tax benefit (expense) | $8.5M | -$2.0K | -$9.0K |
| Net loss | -$38.2M | -$186.7M | -$56.0M |
| Basic (in dollars per share) | -$0.64 | -$4.50 | -$1.75 |
| Diluted (in dollars per share) | -$0.64 | -$4.50 | -$1.75 |
| Basic (in shares) | 60.2M shares | 41.5M shares | 31.9M shares |
| Diluted (in shares) | 60.2M shares | 41.5M shares | 31.9M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-11-30 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $206.1M | $67.4M | |||
| Restricted cash | $9.9M | $11.7M | |||
| Accounts receivable, net | $244.4M | $116.8M | |||
| Inventories | $183.1M | $88.1M | |||
| Prepaid expenses and other current assets | $32.2M | $17.2M | |||
| Total current assets | $675.7M | $301.3M | |||
| Property, plant and equipment, net | $376.1M | $219.2M | |||
| Land use rights, net | $4.8M | $4.8M | |||
| Operating right of use asset | $49.7M | $9.6M | |||
| Intangible assets, net | $3.6M | $3.7M | |||
| Other assets, net | $58.5M | $8.4M | |||
| TOTAL ASSETS | $1.2B | $547.0M | |||
| Accounts payable | $143.9M | $105.0M | |||
| Bank acceptance payable | $33.4M | $19.3M | |||
| Accrued liabilities | $42.5M | $22.1M | |||
| Current lease liability - operating | $3.5M | $1.4M | |||
| Current portion of notes payable and long-term debt | $34.0M | $22.4M | |||
| Total current liabilities | $257.3M | $170.1M | |||
| Convertible senior notes | $129.8M | $134.5M | |||
| Non-current lease liability - operating | $47.4M | $9.0M | |||
| Long-term debt | $0 | $4.3M | |||
| TOTAL LIABILITIES | $434.5M | $317.9M | |||
| Preferred Stock: 5,000 shares authorized at $0.001 par value; no shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $0 | $0 | |||
| Common Stock; 120,000 shares authorized at $0.001 par value, 74,998 shares issued and outstanding at December 31, 2025; 80,000 shares authorized at $0.001 par value and, 49,393 shares issued at December 31, 2024, respectively | $75.0K | $49.0K | |||
| Additional paid-in capital | $1.2B | $683.5M | |||
| Accumulated other comprehensive loss | -$617.0K | -$2.5M | |||
| Accumulated deficit | -$490.1M | -$451.9M | |||
| TOTAL STOCKHOLDERS' EQUITY | $733.9M | $229.1M | $214.9M | $184.7M | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $1.2B | $547.0M | |||
| Preferred stock, shares authorized (in shares) | 5.0M shares | 5.0M shares | |||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 120.0M shares | 80.0M shares | |||
| Common stock, shares issued (in shares) | 75.0M shares | 49.4M shares | |||
| Common stock, shares outstanding (in shares) | 75.0M shares | 49.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-11-30 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $206.1M | $67.4M | |||
| Restricted cash | $9.9M | $11.7M | |||
| Accounts receivable, net | $244.4M | $116.8M | |||
| Inventories | $183.1M | $88.1M | |||
| Prepaid expenses and other current assets | $32.2M | $17.2M | |||
| Total current assets | $675.7M | $301.3M | |||
| Property, plant and equipment, net | $376.1M | $219.2M | |||
| Land use rights, net | $4.8M | $4.8M | |||
| Operating right of use asset | $49.7M | $9.6M | |||
| Intangible assets, net | $3.6M | $3.7M | |||
| Other assets, net | $58.5M | $8.4M | |||
| TOTAL ASSETS | $1.2B | $547.0M | |||
| Accounts payable | $143.9M | $105.0M | |||
| Bank acceptance payable | $33.4M | $19.3M | |||
| Accrued liabilities | $42.5M | $22.1M | |||
| Current lease liability - operating | $3.5M | $1.4M | |||
| Current portion of notes payable and long-term debt | $34.0M | $22.4M | |||
| Total current liabilities | $257.3M | $170.1M | |||
| Convertible senior notes | $129.8M | $134.5M | |||
| Non-current lease liability - operating | $47.4M | $9.0M | |||
| Long-term debt | $0 | $4.3M | |||
| TOTAL LIABILITIES | $434.5M | $317.9M | |||
| Preferred Stock: 5,000 shares authorized at $0.001 par value; no shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $0 | $0 | |||
| Common Stock; 120,000 shares authorized at $0.001 par value, 74,998 shares issued and outstanding at December 31, 2025; 80,000 shares authorized at $0.001 par value and, 49,393 shares issued at December 31, 2024, respectively | $75.0K | $49.0K | |||
| Additional paid-in capital | $1.2B | $683.5M | |||
| Accumulated other comprehensive loss | -$617.0K | -$2.5M | |||
| Accumulated deficit | -$490.1M | -$451.9M | |||
| TOTAL STOCKHOLDERS' EQUITY | $733.9M | $229.1M | $214.9M | $184.7M | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $1.2B | $547.0M | |||
| Preferred stock, shares authorized (in shares) | 5.0M shares | 5.0M shares | |||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 120.0M shares | 80.0M shares | |||
| Common stock, shares issued (in shares) | 75.0M shares | 49.4M shares | |||
| Common stock, shares outstanding (in shares) | 75.0M shares | 49.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$38.2M | -$186.7M | -$56.0M |
| Allowance for credit losses | $4.0K | -$2.0K | -$24.0K |
| Inventory reserve adjustment | $7.8M | $3.4M | $8.7M |
| Depreciation and amortization | $27.7M | $20.6M | $20.4M |
| Amortization of debt issuance cost and premium | -$1.0M | $1.4M | $2.3M |
| Gain on disposal of assets | $38.0K | $132.0K | $51.0K |
| Share-based compensation | $11.7M | $14.8M | $11.9M |
| Deferred income tax | -$7.6M | $0 | $0 |
| Loss on debt extinguishment | $0 | $112.0M | $0 |
| Warrants contra revenue | $823.0K | $0 | $0 |
| Unrealized foreign exchange loss (gain) | $272.0K | $689.0K | -$1.3M |
| Accounts receivable, trade | -$127.6M | -$68.5M | $13.2M |
| Inventories | -$100.7M | -$29.4M | $6.8M |
| Other current assets | -$13.5M | -$12.0M | $1.0M |
| Operating right of use asset | -$40.9M | -$5.0M | $530.0K |
| Accounts payable | $39.0M | $72.1M | -$15.0M |
| Accrued liabilities | $26.5M | $3.8M | $1.3M |
| Unearned Revenue | $0 | -$1.8M | -$1.2M |
| Lease liability | $41.3M | $5.0M | -$660.0K |
| Net cash provided by (used in) operating activities | -$174.4M | -$69.5M | -$7.9M |
| Purchase of property, plant and equipment | -$179.1M | -$43.4M | -$9.1M |
| Proceeds from disposal of equipment | $5.0K | $7.0K | $135.0K |
| Deposits and prepayment for equipment | -$31.1M | -$6.8M | -$5.2M |
| Purchase of intangible assets | -$379.0K | -$506.0K | -$588.0K |
| Net cash used in investing activities | -$210.6M | -$50.7M | -$14.8M |
| Proceeds from line of credit borrowings | $61.2M | $48.7M | $57.6M |
| Repayments of line of credit borrowings | -$55.0M | -$45.0M | -$172.0M |
| Proceeds from bank acceptance payable | $121.4M | $44.2M | $57.1M |
| Repayments of bank acceptance payable | -$108.0M | -$40.2M | -$53.7M |
| Payment on issuance convertible Notes | -$81.0K | -$4.6M | $0 |
| Process from issuance of convertible senior notes, net of debt issuance cost | $0 | $0 | $83.7M |
| Principal payments of financing lease | $0 | $0 | -$63.0K |
| Exercise of stock options | $0 | -$2.0K | $22.0K |
| Payments of tax withholding on behalf of employees related to share-based compensation | -$10.5M | -$4.3M | -$956.0K |
| Proceeds from common stock offering, net | $518.9M | $146.3M | $69.0M |
| Net cash provided by financing activities | $527.9M | $142.2M | $40.6M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $136.9M | $24.0M | $19.5M |
| Effect of exchange rate changes on cash | -$6.0M | $2.1M | $1.6M |
| Interest | $2.5M | $4.9M | $8.1M |
| U.S. Federal | $0 | $0 | $0 |
| U.S. State and Local | $2.0K | $2.0K | $1.0K |
| Foreign | $0 | $0 | $8.0K |
| Net change in accounts payable related to property and equipment additions | $4.7M | $1.1M | $1.1M |
| Net change in deposits and prepaid for equipment related to property and equipment additions | -$15.7M | $79.0K | -$1.3M |
No quarter-by-quarter statement was filed.
Corporate structure
Applied Optoelectronics sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Applied Optoelectronics
- JANE STREET GROUP, LLC Filed SCHEDULE 13G/A on Applied Optoelectronics, latest Aug 10, 2026 (2 filings since Mar 23, 2026)
- BlackRock Filed SCHEDULE 13G/A on Applied Optoelectronics, latest Jul 27, 2026 (4 filings since Dec 10, 2021)
- Marex Securities Products Inc. Filed SCHEDULE 13G on Applied Optoelectronics, latest May 13, 2026
- Invesco Filed SCHEDULE 13G/A on Applied Optoelectronics, latest May 6, 2026 (2 filings since Feb 12, 2026)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Applied Optoelectronics, latest Mar 26, 2026 (5 filings since Feb 9, 2022)
- JPMorgan Chase Filed SCHEDULE 13G/A on Applied Optoelectronics, latest Nov 4, 2025 (2 filings since Oct 17, 2025)
- D. E. SHAW & CO, L.P. Filed SCHEDULE 13G/A on Applied Optoelectronics, latest May 15, 2025 (5 filings since Nov 18, 2021)
- DRIEHAUS CAPITAL MANAGEMENT LLC Filed SC 13G/A on Applied Optoelectronics, latest Jun 10, 2024 (2 filings since Feb 14, 2024)
- CITADEL ADVISORS LLC Filed SC 13G/A on Applied Optoelectronics, latest Feb 14, 2024 (3 filings since Feb 14, 2022)
- Yong Rong (HK) Asset Management Ltd Filed SC 13G/A on Applied Optoelectronics, latest Aug 31, 2023 (2 filings since Aug 18, 2023)
- Applied Optoelectronics Sugar Land, Texas, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Applied Optoelectronics reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $568.1M8 Dec 31, 2025 | $414.2M8 Dec 31, 2024 | +37.1% |
| Accumulated depreciation | $232.9M8 Dec 31, 2025 | $204.5M8 Dec 31, 2024 | +13.9% |
| Property and equipment, net | $376.1M8 Dec 31, 2025 | $219.2M8 Dec 31, 2024 | +71.5% |
| Operating-lease assets (leased space) | $49.7M8 Dec 31, 2025 | $9.6M8 Dec 31, 2024 | +415.2% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $206.1M8 Dec 31, 2025 | $67.4M8 Dec 31, 2024 | +205.7% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, gross | $10.5M8 Dec 31, 2025 | $10.1M8 Dec 31, 2024 | +4.1% |
| Accumulated amortization | $6.9M8 Dec 31, 2025 | $6.4M8 Dec 31, 2024 | +7.4% |
| Finite-lived intangibles, net | $3.6M8 Dec 31, 2025 | $3.7M8 Dec 31, 2024 | −1.5% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $183.1M8 Dec 31, 2025 | $88.1M8 Dec 31, 2024 | +107.8% |
| Raw materials | $85.7M8 Dec 31, 2025 | $50.4M8 Dec 31, 2024 | +70.2% |
| Work in process | $95.5M8 Dec 31, 2025 | $35.7M8 Dec 31, 2024 | +167.5% |
| Finished goods | $18.8M8 Dec 31, 2025 | $17.3M8 Dec 31, 2024 | +8.9% |
Properties, in its own words
We maintain manufacturing, research and development, sales and administrative offices in the U.S., China and Taiwan. Our corporate headquarters is located at our facility in Sugar Land, Texas. The table below provides information regarding our facilities.
Approximate
The rest of Item 2
Location · Owned or leased · Square Footage · Use
Sugar Land, Texas · Owned and leased · 139,450 · Administration, sales, manufacturing, research and development
Duluth, Georgia · Leased · 38,900 · Sales, research and development
Ningbo, China · Owned · 1,203,740 · Administration, sales, manufacturing, research and development
Taipei, Taiwan · Leased · 705,760 · Administration, sales, manufacturing, research and development
Item 2 of the 10-K filed Feb 26, 2026.7
Leadership
Who has led Applied Optoelectronics, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
200020052010201520202025
- Chief executive officerChih-Hsiang (thompson) Lin Sep 25, 2013 to now16
- PresidentChih-Hsiang (thompson) Lin Sep 30, 2013 to now17
- Chief financial officerStefan J. Murry Feb 3, 2015 to now18
- Chief financial officerJames L. Dunn Jr. Sep 25, 2013 to Sep 25, 201419
Board members and other officers (14)
- OfficerDavid C. Kuo Jun 28, 2023 to now20
- Sr. VP, Asia General ManagerChung-Yao (ford) Li Sep 25, 2013 to Jan 30, 201421
- OfficerHung-Lun (fred) Chang Sep 25, 2013 to now22
- VP of Semiconductor ProductsKlaus Alexander Anselm Sep 25, 2013 to Feb 8, 201623
- ** See belowShu-Hua (joshua) Yeh Sep 25, 2013 to now24
- Chief Strategy OfficerStefan J. Murry Sep 25, 2013 to Apr 2, 201425
- Board memberCynthia Delaney Jun 11, 2021 to now26
- Board memberElizabeth G. Loboa Jun 9, 2020 to now27
- Board memberChewei Lin Apr 2, 2014 to now28
- Board memberAlex Ignatiev Sep 25, 2013 to Jun 16, 202029
- Board memberChih-Hsiang (thompson) Lin Sep 25, 2013 to now16
- Board memberJuen-Sheng (andrew) Kang Sep 25, 2013 to Nov 18, 201330
- Board memberWilliam H. Yeh Sep 25, 2013 to now31
- General counselDavid C. Kuo Sep 25, 2013 to Apr 26, 202332
Former names
- APPLIED OPTOELECTRONICS INCDec 15, 2006 to Sep 18, 20125
Timeline
- Sep 15, 20268-K Entered a material agreement; New debt or obligation33
- Sep 10, 20268-K Entered a material agreement34
- Sep 1, 20268-K Entered a material agreement; New debt or obligation35
- Aug 24, 20268-K Entered a material agreement; Executive or director change36
- Aug 21, 20268-K Entered a material agreement37
- Aug 6, 20268-K Results of operations38
- Jul 1, 20268-K Entered a material agreement; New debt or obligation39
- Jun 16, 20268-K Entered a material agreement; New debt or obligation40
- Jun 5, 20268-K Executive or director change; Shareholder vote41
- May 14, 20268-K Entered a material agreement42
- May 13, 20268-K Entered a material agreement; New debt or obligation43
- May 8, 20268-K Change of auditor44
- Sep 25, 2013New chief executive Chih-Hsiang (thompson) Lin becomes CEO16
- 1997Founded Founded1
Calendar
Coming up
- Nov 5, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.14) a share, on Nov 6, 2025.45
When it reported results
- Aug 6, 2026Reported quarterly or annual results38
- May 7, 2026Reported quarterly or annual results46
- Feb 26, 2026Reported quarterly or annual results47
- Nov 6, 2025Reported quarterly or annual results48
- Aug 7, 2025Reported quarterly or annual results49
- May 8, 2025Reported quarterly or annual results50
- Feb 26, 2025Reported quarterly or annual results51
- Nov 7, 2024Reported quarterly or annual results52
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
589 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 89 major events, 296 insider forms, 28 large holders, 155 other. The latest 20:
- Oct 14, 20264 EDGAR
- Oct 13, 2026144 EDGAR
- Oct 7, 20264 EDGAR
- Oct 5, 2026144 EDGAR
- Sep 17, 20264 EDGAR
- Sep 15, 20268-K EDGAR
- Sep 10, 2026144 EDGAR
- Sep 10, 20264 EDGAR
- Sep 10, 20264 EDGAR
- Sep 10, 20268-K CURRENT REPORT EDGAR
- Sep 9, 2026144 EDGAR
- Sep 1, 20268-K CURRENT REPORT EDGAR
- Aug 24, 20268-K EDGAR
- Aug 21, 20268-K EDGAR
- Aug 21, 2026424B5 EDGAR
- Aug 20, 20264 EDGAR
- Aug 18, 2026144 EDGAR
- Aug 12, 20264 EDGAR
- Aug 10, 2026144 EDGAR
- Aug 10, 2026SCHEDULE 13G/A EDGAR
The 589 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
122 open-market trades by officers, directors and large owners since October 2021: 19 buys and 103 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 10, 2026 | Murry Stefan J.Chief Financial Officer | Sale | 4,000 | $105.33 | $421.3K | Form 4 |
| Sep 8, 2026 | Chang Hung-Lun (Fred)*** See Remarks | Sale | 32,172 | $110.21 | $3.5M | Form 4 |
| Aug 18, 2026 | Yeh Shu-Hua (Joshua)*** See Remarks | Sale | 6,000 | $147.73 | $886.4K | Form 4 |
| Aug 10, 2026 | Murry Stefan J.Chief Financial Officer | Sale | 4,000 | $144.79 | $579.2K | Form 4 |
| Aug 4, 2026 | Yeh Shu-Hua (Joshua)*** See Remarks | Sale | 4,715 | $126.50 | $596.4K | Form 4 |
| Jul 21, 2026 | Yeh Shu-Hua (Joshua)*** See Remarks | Sale | 1,285 | $120.02 | $154.2K | Form 4 |
| Jul 10, 2026 | Murry Stefan J.Chief Financial Officer | Sale | 4,000 | $122.09 | $488.4K | Form 4 |
| Jun 18, 2026 | Yeh Shu-Hua (Joshua)*** See Remarks | Sale | 6,000 | $171.89 | $1.0M | Form 4 |
| Jun 17, 2026 | Chang Hung-Lun (Fred)*** See Remarks | Sale | 40,329 | $170.60 | $6.9M | Form 4 |
| Jun 12, 2026 | Yeh Shu-Hua (Joshua)*** See Remarks | Sale | 28,826 | $166.53 | $4.8M | Form 4 |
| Jun 12, 2026 | Murry Stefan J.Chief Financial Officer | Sale | 33,000 | $166.53 | $5.5M | Form 4 |
| Jun 12, 2026 | Lin Chih-Hsiang (Thompson)President and CEO | Sale | 59,000 | $166.53 | $9.8M | Form 4 |
| Jun 12, 2026 | Kuo David C*** See Remarks | Sale | 29,227 | $166.53 | $4.9M | Form 4 |
| Jun 12, 2026 | Chang Hung-Lun (Fred)*** See Remarks | Sale | 34,000 | $166.53 | $5.7M | Form 4 |
| Jun 10, 2026 | Murry Stefan J.Chief Financial Officer | Sale | 4,000 | $171.45 | $685.8K | Form 4 |
| Jun 5, 2026 | Chang Hung-Lun (Fred)*** See Remarks | Sale | 4,000 | $200.07 | $800.3K | Form 4 |
| Jun 4, 2026 | Yeh Shu-Hua (Joshua)*** See Remarks | Sale | 10,000 | $205.07 | $2.1M | Form 4 |
| Jun 2, 2026 | Chen Min-Chu (Mike)Director | Sale | 8,247 | $201.00 | $1.7M | Form 4 |
| May 26, 2026 | DeLaney CynthiaDirector | Sale | 56,575 | $189.23 | $10.7M | Form 4 |
| May 19, 2026 | Yeh Shu-Hua (Joshua)*** See Remarks | Sale | 39,154 | $173.26 | $6.8M | Form 4 |
All 122 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- JANE STREET GROUP, LLCSCHEDULE 13G/A, 2 filings Mar 23, 2026 to Aug 10, 202653
- BlackRockSCHEDULE 13G/A, 4 filings Dec 10, 2021 to Jul 27, 202654
- Marex Securities Products Inc.SCHEDULE 13G, 1 filing May 13, 202655
- InvescoSCHEDULE 13G/A, 2 filings Feb 12, 2026 to May 6, 202656
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 9, 2022 to Mar 26, 202657
- JPMorgan ChaseSCHEDULE 13G/A, 2 filings Oct 17, 2025 to Nov 4, 202558
- D. E. SHAW & CO, L.P.SCHEDULE 13G/A, 5 filings Nov 18, 2021 to May 15, 202559
- DRIEHAUS CAPITAL MANAGEMENT LLCSC 13G/A, 2 filings Feb 14, 2024 to Jun 10, 202460
- CITADEL ADVISORS LLCSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202461
- Yong Rong (HK) Asset Management LtdSC 13G/A, 2 filings Aug 18, 2023 to Aug 31, 202362
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Chih-Hsiang (Thompson) LinPresident and Chief Executive Officer | 63 | $828.7K | $4.8M63 |
| 2025 | Stefan J. MurryChief Financial Officer and Chief Strategy Officer | $517.1K | $2.1M63 | |
| 2025 | Hung-Lun (Fred) ChangSenior Vice President and North America General Manager | $444.3K | $1.7M63 | |
| 2025 | Shu-Hua (Joshua) Yeh Senior Vice President and Asia General Manager | $411.9K | $1.6M63 | |
| 2025 | David C. KuoSenior Vice President, Chief Legal Officer, Chief Compliance Officer and Corporate Secretary | $356.8K | $1.2M63 | |
| 2024 | Chih-Hsiang (Thompson) LinPresident and Chief Executive Officer | 63 | $693.3K | $3.7M63 |
| 2024 | Stefan J. MurryChief Financial Officer and Chief Strategy Officer | $454.2K | $1.4M63 | |
| 2024 | Hung-Lun (Fred) ChangSenior Vice President and North America General Manager | $404.0K | $1.2M63 | |
| 2024 | Shu-Hua (Joshua) Yeh Senior Vice President and Asia General Manager | $350.4K | $1.1M63 | |
| 2024 | David C. KuoSenior Vice President, Chief Legal Officer, Chief Compliance Officer and Corporate Secretary | $311.7K | $942.6K63 | |
| 2023 | Chih-Hsiang (Thompson) LinPresident and Chief Executive Officer | 63 | $596.7K | $6.0M63 |
| 2023 | Stefan J. MurryChief Financial Officer and Chief Strategy Officer | $400.6K | $2.3M63 | |
| 2023 | Hung-Lun (Fred) ChangSenior Vice President and North America General Manager | $350.2K | $2.1M63 | |
| 2023 | Shu-Hua (Joshua) Yeh Senior Vice President and Asia General Manager | $334.7K | $1.8M63 | |
| 2023 | David C. KuoSenior Vice President, Chief Legal Officer, Chief Compliance Officer and Corporate Secretary | $268.3K | $1.5M63 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 6,450,270 | $955.7M | 0.0% | −742,059 |
| Invesco Ltd. | 3,414,262 | $505.9M | 0.0% | +1,399,857 |
| Vanguard Capital Management LLC | 3,363,001 | $498.3M | 0.0% | +301,479 |
| Marex Group Ltd | 2,830,272 | $419.3M | 3.1% | +2,541,105 |
| Vanguard Portfolio Management LLC | 2,651,718 | $392.9M | 0.0% | +849,835 |
| UBS Group AG | 2,111,464 | $312.8M | 0.0% | +1,140,720 |
| Oberweis Asset Management Inc/ | 1,791,127 | $265.4M | 5.5% | −558,842 |
| Geode Capital Management, LLC | 1,670,936 | $247.6M | 0.0% | +49,631 |
| Value Aligned Research Advisors, LLC | 1,595,124 | $236.3M | 1.4% | +327,186 |
| Goldman Sachs Group Inc | 1,586,453 | $235.0M | 0.0% | +501,689 |
| State Street Corp | 1,497,617 | $221.9M | 0.0% | −146,676 |
| Hood River Capital Management LLC | 1,392,510 | $206.3M | 1.5% | +116,991 |
| Clear Street Group Inc. | 1,231,143 | $182.4M | 0.6% | New |
| Morgan Stanley | 1,115,138 | $165.2M | 0.0% | +387,572 |
| Jpmorgan Chase & Co | 1,068,246 | $160.9M | 0.0% | −42,886 |
| Frontier Capital Management Co LLC | 975,318 | $144.5M | 1.3% | +691,172 |
| Susquehanna International Group, Llp | 648,986 | $96.2M | 0.1% | +562,013 |
| Jane Street Group, LLC | 563,557 | $83.5M | 0.1% | −1,715,761 |
| William Blair Investment Management, LLC | 504,202 | $74.7M | 0.2% | New |
| Vanguard Fiduciary Trust Co | 488,922 | $72.4M | 0.0% | +41,240 |
| Charles Schwab Investment Management Inc | 476,027 | $70.5M | 0.0% | −56,201 |
| Northern Trust Corp | 417,720 | $61.9M | 0.0% | −165,774 |
| Capula Management Ltd | 380,749 | $56.4M | 0.2% | New |
| Gilder Gagnon Howe & Co LLC | 343,014 | $50.8M | 0.5% | −112,361 |
| Dimensional Fund Advisors LP | 309,932 | $45.9M | 0.0% | +38 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Applied Optoelectronics is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARAPPLIED OPTOELECTRONICS, INC.2
- CIK0001158114
- Employer ID (EIN)76-05339277
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company7
- Incorporated inDelaware7
- Fiscal year endsDecember 312
- Industry code (SIC)3674 Semiconductors & Related Devices2
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
- Business address13139 Jess Pirtle Blvd, Sugar Land, TX 774782
- Phone281-295-18002
- Shares outstanding84,569,237 as of Aug 3, 202614
- Public float$1.5B as of Jun 30, 20257
- AuditorGRANT THORNTON LLP, Houston, Texas PCAOB ID 248; it also attests to the company’s internal control over financial reporting7
- On EDGAR sinceDec 15, 20062
- Filings1,408 in all: 4 (764), 8-K (207), 144 (83), SC 13G/A (43), 10-Q (39), SC 13G (24), 424B5 (20), CORRESP (19)2
All 45 form types
DEFA14A (19), 3 (18), DEF 14A (15), S-8 POS (14), 10-K (13), UPLOAD (13), S-8 (12), 4/A (11), SD (11), SCHEDULE 13G/A (7), EFFECT (6), S-1/A (6), DRSLTR (5), PRE 14A (5), SCHEDULE 13G (5), 10-K/A (4), 10-Q/A (4), 8-K/A (4), REGDEX (4), S-3 (4), S-3/A (4), ARS (3), 144/A (2), 3/A (2), 424B4 (2), D (2), DRS/A (2), S-1 (2), SEC STAFF LETTER (2), 424B7 (1), 8-A12B (1), CERTNAS (1), CT ORDER (1), DRS (1), FWP (1), S-1MEF (1), S-3ASR (1)
- Latest filingsAnnual report (10-K) Feb 26, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 24, 2026
Latest 8-K (8-K) Sep 15, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, Par value $0.001 | AAOI | NASDAQ |
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).7
Risk factors and legal proceedings
The risks Applied Optoelectronics names in Item 1A of its 10-K filed Feb 26, 2026: 42 risks under these headings, as written.7
- Risks Inherent in Our Business
- Legal and Regulatory Risks
- Risks Related to our Indebtedness and Future Financing
- Risks Related to Data Breaches and Network Infrastructures
- Risks Related to International Trade and Operations
- Risks Related to Our Operations in China
- Risks Related to Intellectual Property Matters
- Risks Related to Our Common Stock
- Risks Related to Operating Our Business
- Significant capital investments in U.S. manufacturing and automation, including investments intended to support artificial intelligence ("AI")-related demand, may not achieve expected returns and could adversely affect our business, financial condition, and results of operations.
- We are dependent on our key customers for a significant portion of our revenue and the loss of, or a significant reduction in orders from, any of our key customers would adversely impact our revenue and results of operations.
- Customer demand is difficult to forecast accurately and, as a result, we may be unable to match production with customer demand.
The other 39 risks
- If our customers do not qualify our products for use on a timely basis, our results of operations may suffer.
- Technology adoption cycles impact our business.
- We must continually develop successful new products and enhance existing products, and if we fail to do so or if our release of new or enhanced products is delayed, our business may be harmed.
- Adverse global economic conditions could have a negative effect on our business, results of operations and financial condition and liquidity.
- Our revenues, growth rates and operating results are likely to fluctuate significantly as a result of factors that are outside our control, which could adversely impact our operating results.
- If we encounter manufacturing problems, we may lose sales and damage our customer relationships.
- Given the high fixed costs associated with our vertically integrated business, a reduction in demand for our products will likely adversely impact our gross profits and our results of operations.
- Changes in United States tariff and import/export regulations may have a negative effect on our business.
- Increasing costs and shifts in product mix may adversely impact our gross margins.
- Our financial results may vary significantly from quarter-to-quarter due to a number of factors, which may lead to volatility in our stock price.
- We depend on key personnel to develop and maintain our technology and manage our business in a rapidly changing market.
- We depend on a limited number of suppliers and any supply interruption could have an adverse effect on our business.
- Our products could contain defects that may cause us to incur significant costs or result in a loss of customers.
- Epidemic diseases, such as COVID-19, or the perception of their effects, could have a material adverse effect on our business, financial condition, results of operation, or cash flows.
- Our ability to use our net operating losses and certain other tax attributes may be limited.
- Our future results of operations may be subject to volatility as a result of exposure to fluctuations in currency exchange rates.
- Future acquisitions may adversely affect our financial condition and results of operations.
- Future divestitures may adversely affect our financial condition and results of operations.
- Natural disasters or other catastrophic events could harm our operations.
- Our ability to retain or recruit key personnel could be adversely affected by the lack of available shares under our equity incentive plan. In addition, if this lack causes us to be unable to settle outstanding awards in shares and such awards must instead be settled in cash, such cash settlement could deplete our available cash, which could have an adverse effect on our business and financial condition.
- We are subject to governmental export and import controls that could subject us to liability or impair our ability to compete in international markets.
- Our business could be negatively impacted as a result of shareholder activism.
- The unfavorable outcome of any pending or future litigation or administrative action and expenses incurred in connection with litigation could result in financial losses or harm to our business.
- Risks Related to Our Indebtedness and Future Financing
- Our indebtedness and liabilities could limit the cash flow available for our operations, expose us to risks that could adversely affect our business, financial condition and results of operations and impair our ability to satisfy our obligations under our indebtedness.
- Our loan agreements contain restrictive covenants that may adversely affect our ability to conduct our business.
- We may not be able to obtain additional capital when desired, on favorable terms or at all.
- Data breaches and cyberattacks could compromise our operations, our customers’ operations, or the operations of our contract manufacturers upon whom we rely, and cause significant damage to our business and reputation.
- We may be subject to disruptions or failures in information technology systems and network infrastructures that could have a material adverse effect on our business and financial condition.
- Changes in U.S. and international trade policies, particularly regarding China, may materially and adversely impact our business and operating results.
- We face a variety of risks associated with our international sales and operations.
- Adverse changes in economic and political policies in China, or Chinese laws or regulations could have a material adverse effect on business conditions and the overall economic growth of China, which could adversely affect our business.
- The turnover of direct labor in manufacturing industries in China is high, which could adversely affect our production, shipments and results of operations.
- Chinese regulation of loans to and direct investment by offshore holding companies in China entities may delay or prevent us from making loans or additional capital contributions to our China subsidiary.
- Our China subsidiary is subject to Chinese labor laws and regulations, and Chinese labor laws may increase our operating costs in China.
- If we fail to protect, or incur significant costs in defending, our intellectual property and other proprietary rights, our business and results of operations could be materially harmed.
- We may be involved in intellectual property disputes in the future, which could divert management’s attention, cause us to incur significant costs and prevent us from selling or using the challenged technology.
- Our stock price has been and is likely to be volatile.
- Our charter documents, stock incentive plans and Delaware law could prevent a takeover that stockholders consider favorable and could also reduce the market price of our stock.
- Our Restated Certificate of Incorporation includes a forum selection clause, which could limit our stockholders' ability to obtain a favorable judicial forum for disputes with us.
Legal proceedings
The information set forth under Note T "Contingencies" included in Part II, Item 8 of this Form 10-K, is incorporated herein by reference. For an additional discussion of certain risks associated with legal proceedings, see "Risk Factors" above.
The opening of Item 3, Legal Proceedings.7
Links
- Websiteao-inc.com1
- LinkedInwww.linkedin.com/company/appliedopto1
- WikidataQ30297735
- SEC EDGARCIK 1158114
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 4Company websiteApplied Optoelectronics logo
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- 6Company websiteApplied Optoelectronics photo
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- 20SEC EDGARDavid C. Kuo, Officer
- 21
- 22SEC EDGARHung-Lun (fred) Chang, Officer
- 23
- 24SEC EDGARShu-Hua (joshua) Yeh, ** See below
- 25
- 26SEC EDGARCynthia Delaney, Board member
- 27SEC EDGARElizabeth G. Loboa, Board member
- 28SEC EDGARChewei Lin, Board member
- 29SEC EDGARAlex Ignatiev, Board member
- 30
- 31SEC EDGARWilliam H. Yeh, Board member
- 32SEC EDGARDavid C. Kuo, General counsel
- 33
- 34SEC EDGAREntered a material agreement
- 35
- 36
- 37SEC EDGAREntered a material agreement
- 38SEC EDGARResults of operations
- 39
- 40
- 41
- 42SEC EDGAREntered a material agreement
- 43
- 44SEC EDGARChange of auditor
- 45NasdaqNasdaq calendar
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