AAOI
Applied Optoelectronics, Inc.
AAOI lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
BTDR
Bitdeer Technologies Group
There isn't enough reported data to score BTDR yet.
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.
BTDR Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| Unavailable | |
| Healthy |
BTDR's balance sheet is currently healthy, but its profitability is weak. There isn't enough data to rate its revenue and cash flow.
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.
BTDR PE Valuation
BTDR 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 |
Analysts expect AAOI to return to profit, with revenue growing. However, they disagree widely on these estimates.
BTDR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect BTDR's losses to shrink, with revenue growing. 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 is still losing money, but far less than before: $0.42 per share over the past year, against $4.50 at its worst in late 2024.
BTDR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2024 | -$4.36 | -$3.85 |
BTDR and AAOI do not have enough comparable growth data to identify a winner.
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 stronger quarterly revenue trend. Revenue is up 127% for AAOI versus down 32% for BTDR.
| 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's operating margin was −0.5% last quarter, up 15 points from the same quarter a year ago, near the top of its range since 2019.
BTDR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2025 | $225.7M | +3.2% |
| Q4 2024 | $112.3M | -70% |
| Q4 2023 | $368.6M | +11% |
| Q4 2022 | $333.3M | +281% |
| Q4 2021 | $87.5M | +70% |
| Q3 2021 | $87.5M | +70% |
| Q2 2021 | $109.8M | +164% |
| Q1 2021 | $109.8M | +164% |
BTDR's revenue is growing: $226M last quarter, down 32% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2025 | 125% | +143 points |
| Q4 2024 | -512% | -506 points |
| Q2 2024 | -7% | -1.7 points |
| Q4 2023 | -14% | -78 points |
| Q4 2022 | -18% | -82 points |
| Q4 2021 | -5.2% | +26 points |
| Q3 2021 | -5.2% | +26 points |
| Q2 2021 | 64% | +101 points |
BTDR's operating margin was 125% last quarter, up 143 points from the same quarter a year ago, near the top of its range since 2020.
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 |
BTDR has the stronger cash trend. Its trailing FCF is down 493% versus its history, compared with AAOI at down 676%.
BTDR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2021 | $198.5K | +$54.8M |
| Q3 2021 | -$150.9K | +$54.5M |
| Q2 2021 | -$445.4K | +$71.5M |
| Q1 2021 | -$12.6M | +$59.3M |
BTDR has burned cash in almost every quarter: −$771M over the past year, against −$194M the year before.
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.
BTDR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.2% | +10.2M shares |
| 1 year | -99% | -12.5B shares |
BTDR has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2023 | $2.6M |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
BTDR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | -5.2x | Net Cash |
| Q4 2022 | -34.5x | Net Cash |
| Q4 2021 | -1.5x | Net Cash |
| Q3 2021 | -1.4x | Net Cash |
| Q2 2021 | -0.6x | Net Cash |
| Q1 2021 | -1.0x | Net Cash |
| Q4 2020 | 0.1x | Very low |
BTDR has more cash than debt.
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).
BTDR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.4 | Neutral |
| Stochastic | 9.4 | Oversold |
BTDR's weekly RSI is 34 (neutral) and its Stochastic is 9 (oversold).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
BTDR PE vs Technology Sector
BTDR 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 stronger trend alignment. AAOI is above 1 of 5 weekly averages versus BTDR above 0 of 4.
BTDR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.21 | 25% below |
| 20 week MA | $10.2 | 40% below |
| 50 week MA | $11.4 | 46% below |
| 100 week MA | $13.2 | 53% below |
BTDR is in a downtrend: it's below all four of its weekly moving averages, and 53% below its 100-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 BTDR on returns for 2026, with the stronger performance.
BTDR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $10.5 | $9.86 | -6.4% |
| 2024 | $9.86 | $23.7 | +140% |
| 2025 | $23.7 | $10.7 | -55% |
| 2026 YTD | $10.7 | $6.13 | -43% |
BTDR's yearly returns have swung widely, from +140% in 2024 to −55% in 2025. It's down 43% so far in 2026.