AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
LSPD
Lightspeed Commerce Inc.
LSPD has the 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.
LSPD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Stable | |
| Strong |
LSPD's balance sheet is currently strong, and its revenue and cash flow are stable, but its profitability is 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.
LSPD PE Valuation
LSPD 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.
LSPD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for LSPD, with profitability improving. 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.
LSPD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.80 | — |
| Q2 2026 | -$0.70 | +$3.78 |
| Q1 2026 | -$1.03 | +$3.33 |
| Q4 2025 | -$4.60 | -$3.80 |
| Q3 2025 | -$4.53 | -$3.64 |
| Q2 2025 | -$4.48 | -$3.50 |
| Q1 2025 | -$4.36 | -$3.29 |
| Q4 2024 | -$0.80 | +$0.55 |
| Q3 2024 | -$0.89 | +$5.59 |
LSPD is still losing money, but far less than before: $0.70 per share over the past year, against $7.37 at its worst in late 2022.
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 LSPD 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 LSPD on profitability, with a higher operating margin.
LSPD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $322.7M | +5.8% |
| Q1 2026 | $290.8M | +15% |
| Q4 2025 | $312.3M | +11% |
| Q3 2025 | $319M | +15% |
| Q2 2025 | $304.9M | +15% |
| Q1 2025 | $253.4M | +10% |
| Q4 2024 | $280.1M | +17% |
| Q3 2024 | $277.2M | +20% |
LSPD's revenue has grown year over year every quarter since late 2020: $323M last quarter, up 5.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -1.1% | +13 points |
| Q1 2026 | -12% | +217 points |
| Q4 2025 | -11% | +0.8 points |
| Q3 2025 | -11% | +2.8 points |
| Q2 2025 | -14% | +2.3 points |
| Q1 2025 | -229% | -211 points |
| Q4 2024 | -12% | +9.3 points |
| Q3 2024 | -14% | +8.9 points |
LSPD's operating margin was −1.1% last quarter, up 13 points from the same quarter a year ago, near the top of its range since 2019.
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.
LSPD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$1.6M | -2169% |
| Q1 2026 | -$8M | +$8.9M |
| Q4 2025 | $23.9M | +$27.3M |
| Q3 2025 | $23.8M | +$41M |
| Q2 2025 | $77K | +$18.4M |
| Q1 2025 | -$16.9M | +$17.9M |
| Q4 2024 | -$3.4M | +$19.7M |
| Q3 2024 | -$17.2M | +$11.3M |
LSPD 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.
LSPD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -1.3M shares |
| 1 year | -1.9% | -2.6M shares |
| 3 years | -9.4% | -14.3M shares |
| 5 years | +5.6% | +7.3M shares |
| Available history | +63% | +53.3M shares |
LSPD has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $65.6M |
| Q1 2026 | $279,531 |
| Q4 2025 | $429,657 |
| Q3 2025 | $20,000 |
| Q2 2025 | $116.4M |
| Q1 2025 | $92.4M |
| Q4 2024 | — |
| Q3 2024 | $63,893 |
LSPD spent $66M buying back its own shares over the past year, down 68% from 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.
LSPD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -23.9x | Net Cash |
LSPD 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).
LSPD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.5 | Neutral |
| Stochastic | 49.7 | Neutral |
LSPD's weekly RSI is 49 (neutral) and its Stochastic is 50 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
LSPD PE vs Technology Sector
LSPD 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 the edge over LSPD on trend strength, trading above more of its moving averages.
LSPD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.4 | 3.1% below |
| 20 week MA | $10.4 | 2.5% below |
| 50 week MA | $10.1 | 0.4% below |
| 100 week MA | $11.0 | 8.6% below |
| 200 week MA | $13.1 | 23% below |
LSPD is in a downtrend: it's below all five of its weekly moving averages, and 23% 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 LSPD on returns for 2026, with the stronger performance.
LSPD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $28.0 | $68.5 | +145% |
| 2021 | $68.5 | $40.8 | -40% |
| 2022 | $40.8 | $13.5 | -67% |
| 2023 | $13.5 | $21.0 | +56% |
| 2024 | $21.0 | $15.6 | -26% |
| 2025 | $15.6 | $12.4 | -21% |
| 2026 YTD | $12.4 | $10.1 | -18% |
LSPD's yearly returns have swung widely, from +145% in 2020 to −67% in 2022. It's down 18% so far in 2026.