AAOI
Applied Optoelectronics, Inc.
AAOI has the edge over ALIT overall, supported by stronger modeled upside.
ALIT
Alight, Inc.
ALIT offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
AAOI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Weak | |
| Unavailable |
AAOI's revenue is currently strong, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
ALIT Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Stable | |
| Weak |
ALIT's revenue and cash flow are currently stable, but its profitability and balance sheet are under pressure.
AAOI PE Valuation
AAOI has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 18x next year's earnings.
ALIT PE Valuation
ALIT has no meaningful PE right now: it lost money over the past year.
AAOI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
AAOI has the edge over ALIT on the outlook, with more favorable earnings and revenue expectations.
ALIT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong decline | |
| Decline | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect ALIT's earnings and revenue to decline, with profitability weakening. However, they disagree widely on these estimates.
AAOI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.98 | — |
| Q3 2026 | -$0.42 | +$3.02 |
| Q2 2026 | -$0.77 | +$2.81 |
| Q1 2026 | -$0.65 | +$3.43 |
| Q4 2025 | -$0.64 | +$3.86 |
| Q3 2025 | -$3.44 | -$1.41 |
| Q2 2025 | -$3.58 | -$1.70 |
| Q1 2025 | -$4.08 | -$2.29 |
| Q4 2024 | -$4.50 | -$2.75 |
AAOI has the edge over ALIT on earnings, with more consistent year-over-year improvement.
ALIT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.79 | — |
| Q3 2026 | -$38.51 | +$43.09 |
| Q2 2026 | -$76.98 | -$32.98 |
| Q1 2026 | -$117.20 | -$114.60 |
| Q4 2025 | -$117.40 | -$111.60 |
| Q3 2025 | -$81.60 | -$69.00 |
| Q2 2025 | -$44.00 | -$32.20 |
| Q1 2025 | -$2.60 | +$12.80 |
| Q4 2024 | -$5.80 | +$8.20 |
ALIT lost $38.51 per share over the past year, a smaller loss than the year before.
AAOI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $269.9M | +127% |
| Q2 2026 | $191.9M | +86% |
| Q1 2026 | $151.1M | +51% |
| Q4 2025 | $134.3M | +34% |
| Q3 2025 | $118.6M | +82% |
| Q2 2025 | $103M | +138% |
| Q1 2025 | $99.9M | +146% |
| Q4 2024 | $100.3M | +66% |
AAOI has the edge over ALIT on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.5% | +15 points |
| Q2 2026 | -13% | +2.6 points |
| Q1 2026 | -8.6% | +0.3 points |
| Q4 2025 | -8.6% | -2.1 points |
| Q3 2025 | -15% | +10 points |
| Q2 2025 | -16% | +45 points |
| Q1 2025 | -8.9% | +44 points |
| Q4 2024 | -6.5% | +1 points |
AAOI has the edge over ALIT on profitability, with a higher operating margin.
ALIT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $500M | -6.2% |
| Q2 2026 | $511M | -3.2% |
| Q1 2026 | $534M | -2.6% |
| Q4 2025 | $653M | -4% |
| Q3 2025 | $533M | -4% |
| Q2 2025 | $528M | -1.9% |
| Q1 2025 | $548M | -2% |
| Q4 2024 | $680M | -29% |
ALIT's revenue fell from its 2023 peak and has held roughly level since: $500M last quarter, down 6.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -12% | +236 points |
| Q2 2026 | -7.8% | +184 points |
| Q1 2026 | -4.1% | -2.7 points |
| Q4 2025 | -115% | -121 points |
| Q3 2025 | -248% | -241 points |
| Q2 2025 | -191% | -182 points |
| Q1 2025 | -1.5% | +5.7 points |
| Q4 2024 | 6.5% | +13 points |
ALIT's operating margin was −12% last quarter, up 236 points from the same quarter a year ago.
AAOI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$369.9M | -$291.2M |
| Q2 2026 | -$265.3M | -$174.4M |
| Q1 2026 | -$143.6M | -$64.3M |
| Q4 2025 | -$104.6M | -$51.6M |
| Q3 2025 | -$78.7M | -$58M |
| Q2 2025 | -$91M | -$86M |
| Q1 2025 | -$79.3M | -$45.1M |
| Q4 2024 | -$53M | -$48.4M |
AAOI has burned cash in almost every quarter: −$883M over the past year, against −$302M the year before.
ALIT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $7M | -86% |
| Q2 2026 | $48M | -17% |
| Q1 2026 | $53M | +20% |
| Q4 2025 | $99M | +7.6% |
| Q3 2025 | $49M | +$101M |
| Q2 2025 | $58M | +115% |
| Q1 2025 | $44M | -31% |
| Q4 2024 | $92M | -9.8% |
ALIT has the edge over AAOI on cash generation, producing positive trailing cash flow while its opponent burns cash.
AAOI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +7.7% | +6.3M shares |
| 1 year | +39% | +24.5M shares |
| 3 years | +168% | +55.1M shares |
| 5 years | +224% | +60.7M shares |
| Available history | +340% | +67.9M shares |
AAOI has 88M diluted shares, up 39% from a year ago.
ALIT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +70.7K shares |
| 1 year | +0.4% | +92.9K shares |
| 3 years | +7.1% | +1.8M shares |
| 5 years | +20% | +4.5M shares |
| Available history | +323% | +20.2M shares |
ALIT has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $25M |
| Q2 2025 | $20M |
| Q1 2025 | $20M |
| Q4 2024 | $12M |
ALIT hasn't bought back shares in the past year.
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
ALIT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2025 | 7.5x | High |
| Q4 2024 | 8.1x | High |
| Q3 2024 | 15.6x | High |
| Q2 2024 | 16.3x | High |
| Q1 2024 | 12.5x | High |
| Q4 2023 | 10.2x | High |
| Q3 2023 | 7.0x | High |
| Q2 2023 | 8.0x | High |
ALIT's net debt is about 7.5 years of its operating earnings (EBITDA), down from 13 years a year ago.
AAOI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.1 | Neutral |
| Stochastic | 4.8 | Oversold |
AAOI's weekly RSI is 35 (neutral) and its Stochastic is 5 (oversold).
ALIT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.4 | Neutral |
| Stochastic | 33.2 | Neutral |
ALIT's weekly RSI is 44 (neutral) and its Stochastic is 33 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
ALIT PE vs Technology Sector
ALIT has no meaningful PE right now: it lost money over the past year.
AAOI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $80.2 | 34% below |
| 20 week MA | $100.6 | 47% below |
| 50 week MA | $100.3 | 47% below |
| 100 week MA | $62.3 | 15% below |
| 200 week MA | $36.9 | 43% above |
AAOI has fallen below most of its moving averages, though it's still 43% above its 200-week average.
ALIT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.3 | 22% above |
| 20 week MA | $13.5 | 7.1% below |
| 50 week MA | $18.7 | 33% below |
| 100 week MA | $59.3 | 79% below |
| 200 week MA | $111.9 | 89% below |
ALIT has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 89% below its 200-week average.
AAOI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.5 | $8.77 | -24% |
| 2021 | $8.77 | $5.64 | -36% |
| 2022 | $5.64 | $1.95 | -65% |
| 2023 | $1.95 | $19.3 | +891% |
| 2024 | $19.3 | $37.7 | +95% |
| 2025 | $37.7 | $37.2 | -1.5% |
| 2026 YTD | $37.2 | $52.9 | +42% |
AAOI has the edge over ALIT on returns for 2026, with the stronger performance.
ALIT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $184.4 | $215.0 | +17% |
| 2022 | $215.0 | $164.2 | -24% |
| 2023 | $164.2 | $170.6 | +3.9% |
| 2024 | $170.6 | $138.2 | -19% |
| 2025 | $138.2 | $39.4 | -71% |
| 2026 YTD | $39.4 | $12.5 | -68% |
ALIT has finished lower in three of the last five years. It's down 68% so far in 2026.