AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
LTRX
Lantronix, Inc.
LTRX 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.
LTRX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Unavailable |
LTRX's revenue is currently healthy, and its profitability is stable, but its cash flow is 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.
LTRX PE Valuation
LTRX 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.
LTRX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for LTRX, with profitability improving.
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.
LTRX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.24 | — |
| Q3 2026 | -$0.07 | +$0.19 |
| Q2 2026 | -$0.10 | +$0.19 |
| Q1 2026 | -$0.16 | +$0.06 |
| Q4 2025 | -$0.23 | -$0.10 |
| Q3 2025 | -$0.26 | -$0.12 |
| Q2 2025 | -$0.29 | -$0.17 |
| Q1 2025 | -$0.22 | -$0.04 |
| Q4 2024 | -$0.13 | +$0.12 |
LTRX is still losing money, but far less than before: $0.07 per share over the past year, against $0.43 at its worst in early 2020.
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 LTRX 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 LTRX on profitability, with a higher operating margin.
LTRX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $32.4M | +8.6% |
| Q2 2026 | $31.2M | +8% |
| Q1 2026 | $30.2M | +5.9% |
| Q4 2025 | $29.8M | -4.5% |
| Q3 2025 | $29.8M | -13% |
| Q2 2025 | $28.8M | -41% |
| Q1 2025 | $28.5M | -31% |
| Q4 2024 | $31.2M | -16% |
LTRX's revenue is recovering but still below its 2024 peak: $32M last quarter, up 8.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -1.7% | +3.4 points |
| Q2 2026 | -1.3% | +9.6 points |
| Q1 2026 | -3.7% | +8.8 points |
| Q4 2025 | -3.6% | +3.3 points |
| Q3 2025 | -5.1% | +1 points |
| Q2 2025 | -11% | -12 points |
| Q1 2025 | -13% | -12 points |
| Q4 2024 | -6.9% | -2.2 points |
LTRX's operating margin was −1.7% last quarter, up 3.4 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.
LTRX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$2.6M | -174% |
| Q2 2026 | $1.7M | +89% |
| Q1 2026 | $1.9M | -38% |
| Q4 2025 | $2.1M | +715% |
| Q3 2025 | $3.5M | +41% |
| Q2 2025 | $909K | -57% |
| Q1 2025 | $3.1M | -34% |
| Q4 2024 | $256K | -92% |
LTRX 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.
LTRX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +16% | +6.6M shares |
| 1 year | +19% | +7.6M shares |
| 3 years | +26% | +9.8M shares |
| 5 years | +63% | +18M shares |
| Available history | +102% | +23.6M shares |
LTRX has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
LTRX Net Leverage
LTRX'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).
LTRX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.3 | Neutral |
| Stochastic | 19.0 | Oversold |
LTRX's weekly RSI is 39 (neutral) and its Stochastic is 19 (oversold).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
LTRX PE vs Technology Sector
LTRX 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 LTRX on trend strength, trading above more of its moving averages.
LTRX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.01 | 25% below |
| 20 week MA | $5.76 | 22% below |
| 50 week MA | $6.01 | 25% below |
| 100 week MA | $4.72 | 5.1% below |
| 200 week MA | $4.49 | 0.2% below |
LTRX is in a downtrend: it's below all five of its weekly moving averages, and 0.2% 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 LTRX on returns for 2026, with the stronger performance.
LTRX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.53 | $4.71 | +33% |
| 2021 | $4.71 | $7.57 | +61% |
| 2022 | $7.57 | $4.15 | -45% |
| 2023 | $4.15 | $5.86 | +41% |
| 2024 | $5.86 | $4.10 | -30% |
| 2025 | $4.10 | $5.80 | +41% |
| 2026 YTD | $5.80 | $4.48 | -23% |
LTRX has finished higher in four of the last six years. It's down 23% so far in 2026.