AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
LAW
CS Disco, Inc.
LAW has a slight edge over AAOI overall, supported by lower modeled downside and stronger fundamentals.
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.
LAW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Weak | |
| Unavailable |
LAW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
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.
LAW PE Valuation
LAW 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.
LAW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect LAW'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.
LAW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.49 | +$0.53 |
| Q2 2026 | -$0.63 | +$0.32 |
| Q1 2026 | -$0.68 | +$0.27 |
| Q4 2025 | -$0.72 | +$0.21 |
| Q3 2025 | -$1.02 | -$0.43 |
| Q2 2025 | -$0.95 | -$0.49 |
| Q1 2025 | -$0.95 | -$0.42 |
| Q4 2024 | -$0.93 | -$0.23 |
LAW is still losing money, but far less than before: $0.49 per share over the past year, against $1.34 at its worst in early 2023.
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 LAW on sales, with stronger typical year-over-year growth.
| 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 LAW on profitability, with a higher operating margin.
LAW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $45.3M | +11% |
| Q2 2026 | $43.1M | +13% |
| Q1 2026 | $41.9M | +14% |
| Q4 2025 | $41.2M | +11% |
| Q3 2025 | $40.9M | +13% |
| Q2 2025 | $38.1M | +5.8% |
| Q1 2025 | $36.7M | +3% |
| Q4 2024 | $37M | +3.5% |
LAW's revenue has grown year over year for 14 quarters in a row: $45M last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -12% | +23 points |
| Q2 2026 | -21% | +9.6 points |
| Q1 2026 | -24% | +10 points |
| Q4 2025 | -22% | +48 points |
| Q3 2025 | -35% | -5.4 points |
| Q2 2025 | -31% | +3.4 points |
| Q1 2025 | -34% | +0.3 points |
| Q4 2024 | -71% | -49 points |
LAW's operating margin was −12% last quarter, up 23 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.
LAW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$5.4M | -$3.4M |
| Q2 2026 | -$2.2M | +$3M |
| Q1 2026 | -$12.4M | -$1.4M |
| Q4 2025 | $255K | -83% |
| Q3 2025 | -$2M | +$1.7M |
| Q2 2025 | -$5.2M | -$3.9M |
| Q1 2025 | -$11M | -$3M |
| Q4 2024 | $1.5M | -20% |
LAW has the edge over AAOI on cash flow, with more consistent year-over-year improvement.
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.
LAW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +770K shares |
| 1 year | +5.1% | +3.2M shares |
| 3 years | +8.1% | +4.9M shares |
| 5 years | +379% | +51.6M shares |
| Available history | +33% | +16.1M shares |
LAW has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $196,000 |
| Q2 2026 | $171,000 |
| Q1 2026 | $132,000 |
| Q4 2025 | $35,000 |
| Q3 2025 | $26,000 |
| Q2 2025 | $20,000 |
| Q1 2025 | $24,000 |
| Q4 2024 | $27,000 |
LAW spent $534,000 buying back its own shares over the past year, about six times what it spent the year before.
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
LAW Net Leverage
LAW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
LAW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.6 | Overbought |
| Stochastic | 88.8 | Overbought |
LAW's weekly RSI is 74 (overbought) and its Stochastic is 89 (overbought).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
LAW PE vs Technology Sector
LAW 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.
LAW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.98 | 31% above |
| 20 week MA | $4.44 | 47% above |
| 50 week MA | $4.74 | 37% above |
| 100 week MA | $4.85 | 34% above |
| 200 week MA | $5.87 | 11% above |
LAW has the edge over AAOI on trend strength, trading above more of its moving averages.
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 LAW on returns for 2026, with the stronger performance.
LAW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $44.8 | $36.3 | -19% |
| 2022 | $36.3 | $6.09 | -83% |
| 2023 | $6.09 | $7.59 | +25% |
| 2024 | $7.59 | $5.01 | -34% |
| 2025 | $5.01 | $7.99 | +59% |
| 2026 YTD | $7.99 | $6.51 | -19% |
LAW has finished lower in three of the last five years. It's down 19% so far in 2026.