AAOI: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	456m	249m
Cost of revenue	319m	188m
Gross profit	137m	62m
Research and development	86m	55m
Selling, general and administrative	76m	60m
Operating expenses	192m	133m
Operating income	−55m	−71m
Pre-tax income	−47m	−187m
Income tax	−8m	2,000
Net income	−38m	−187m
Earnings per share	−0.64	−4.50
Earnings per share, diluted	−0.64	−4.50
Weighted average shares	60m	42m
Weighted average shares, diluted	60m	42m

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	440m	206m	137m	65m	51m	67m	34m	11m
Receivables	299m	244m	224m	211m	171m	117m	75m	58m
Inventory	206m	183m	170m	139m	102m	88m	64m	54m
Current assets	993m	676m	575m	458m	359m	301m	188m	133m
Property, plant and equipment	419m	376m	310m	269m	241m	219m	205m	198m
Total assets	1.57bn	1.17bn	979m	797m	645m	547m	410m	348m
Current liabilities	259m	257m	249m	217m	191m	170m	117m	81m
Total liabilities	460m	435m	419m	372m	336m	318m	198m	162m
Equity	1.11bn	734m	559m	425m	309m	229m	212m	186m
Shares outstanding	79m	75m	68m	62m	53m	49m	45m	41m
Shares issued	79m	75m	68m	62m	53m	49m	45m	41m

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	−174m	−70m
Depreciation and amortisation	28m	21m
Share-based compensation	12m	15m
Capital expenditure	179m	43m
Investing cash flow	−211m	−51m
Financing cash flow	528m	142m