Applied Optoelectronics, Inc. cash flow statement AAOI

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Applied Optoelectronics, Inc. used $174.4 million of cash from operations, down 150.9% from the year before. It spent $179.1 million on capital expenditures. Free cash flow was negative, at -$353.6 million.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

FY 2026
Sep 30, 2026
FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
FY 2023
Dec 31, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 31, 2021
FY 2020
Dec 31, 2020
FY 2019
Dec 31, 2019
FY 2018
Dec 31, 2018
FY 2017
Dec 31, 2017
FY 2016
Dec 31, 2016
Operating
Depreciation and amortization
43
+71.7%
28
+34.1%
21
+1.1%
20
-12.0%
23
-8.5%
25
+2.6%
25
+3.0%
24
-19.1%
30
+45.7%
20
+43.6%
14
+50.6%
Stock-based compensation
18
+51.0%
12
-20.8%
15
+24.5%
12
+23.8%
10
-20.8%
12
-7.1%
13
+10.5%
12
+6.2%
11
+42.7%
8
+103.4%
4
+80.8%
Operating cash flow
-106
+37.3%
-174
-150.9%
-70
-776.9%
-8
+43.5%
-14
-20.4%
-12
+73.5%
-44
-2409.1%
-2
-112.5%
14
-83.4%
84
+47.6%
57
+475.4%
Investing
Capital expenditures
—
179
+312.7%
43
+378.1%
9
+182.8%
3
-59.8%
8
-49.5%
16
-45.1%
29
-59.9%
72
+7.3%
67
+35.4%
49
-13.4%
Investing cash flow
-1,194
-670.9%
-211
-315.4%
-51
-243.5%
-15
-285.0%
-4
+63.6%
-11
+45.5%
-19
+39.8%
-32
+58.0%
-77
-9.1%
-70
-68.9%
-42
+32.6%
Financing
Financing cash flow
1,771
+304.5%
528
+271.3%
142
+250.4%
41
+277.4%
11
-23.7%
14
-70.3%
47
+11.4%
43
+22.4%
35
+90.8%
18
+293.0%
5
-93.7%
Change in cash
Effect of exchange rate
—
—
—
—
—
—
—
0
—
—
—
Net change in cash
471
+330.5%
137
+469.6%
24
+23.2%
20
+451.5%
-6
+38.2%
-9
+46.9%
-17
-287.4%
9
+134.8%
-26
-181.1%
32
—
Free cash flow
—
-354
-213.1%
-113
-564.0%
-17
+1.3%
-17
+12.2%
-20
+67.2%
-60
-95.8%
-31
+47.2%
-58
-433.9%
17
+126.0%
8
+110.6%
Per share
Free cash flow per share
—
-5.87
-116.1%
-2.72
-410.6%
-0.53
+14.0%
-0.62
+15.1%
-0.73
+73.3%
-2.73
-78.9%
-1.53
+48.1%
-2.94
-442.3%
0.86
+98.8%
0.43
+109.9%
Ratios
Free cash flow margin
—
-77.59%
-45.29%
-7.81%
-7.73%
-9.28%
-25.49%
-16.00%
-21.62%
4.53%
2.94%
Capital expenditures to revenue
—
39.31%
17.41%
4.17%
1.44%
3.77%
6.73%
15.08%
26.86%
17.52%
18.96%
Stock-based compensation to revenue
2.38%
2.57%
5.93%
5.46%
4.31%
5.73%
5.56%
6.18%
4.16%
2.04%
1.47%
Cash conversion
—
—
—
—
—
—
—
—
—
1.14x
1.83x
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. The first column is the trailing twelve months through the latest quarter. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry
Semiconductors & Related Devices (SIC 3674)
Listed as
AAOI (Nasdaq)
Fiscal year ends
December 31
Incorporated in
DE
Headquarters
Sugar Land, TX
SEC filer status
Large accelerated filer
SEC CIK
1158114
Former names
APPLIED OPTOELECTRONICS INC (until Sep 18, 2012)

Other Semiconductors & Related Devices companies

All 112 Semiconductors & Related Devices companies

Source: SEC EDGAR filings. This is company-reported data, not investment advice.