Applied Opt (AAOI)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from AAOI's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Applied Opt's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $212M | $223M | $218M | $249M | $456M |
| Net income | -$54M | -$66M | -$56M | -$187M | -$38M |
| Free cash flow | -$20M | -$17M | -$17M | -$113M | -$354M |
| EPS (diluted) | -$2.01 | -$2.38 | -$1.75 | -$4.50 | -$0.64 |
| Operating margin | -26.8% | -26.5% | -19.0% | -28.4% | -12.0% |
Where the revenue comes from
Revenue by products, fiscal 2025.
Superinvestors who own AAOI
From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Added | $7M | 0.00% | Q2 2026 |
| Lee Ainslie Maverick Capital |
Trimmed | $620,494 | 0.00% | Q2 2026 |
| Jay Petschek Corsair Capital Management |
Trimmed | $444,480 | 0.06% | Q2 2026 |
Insider buying
Open-market purchases by Applied Opt's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are Applied Opt insiders buying the stock?
No open-market insider purchases of AAOI in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Applied Opt?
3 of the superinvestors Investingly tracks hold AAOI in their latest 13F, including Cliff Asness, Lee Ainslie, Jay Petschek.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.