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.
NEON
Neonode Inc.
There isn't enough reported data to score NEON 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.
NEON Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Weak | |
| Strong |
NEON's balance sheet is currently strong, and its revenue is stable, but its profitability and cash flow are weak.
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.
NEON PE Valuation
NEON 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.
NEON Forward outlook
There aren't enough analyst estimates for NEON to show an outlook.
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 NEON in the latest year-over-year earnings comparison.
NEON Earnings Per Share
NEON lost $0.43 per share over the past year, a smaller loss than the year before, but its loss has widened in each of the last three quarters.
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 NEON 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 NEON on profitability, with a higher operating margin.
NEON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $535K | +24% |
| Q2 2026 | $477K | -20% |
| Q1 2026 | $614K | +20% |
| Q4 2025 | $520K | -21% |
| Q3 2025 | $430K | -49% |
| Q2 2025 | $599K | -58% |
| Q1 2025 | $513K | -49% |
| Q4 2024 | $655K | -34% |
NEON's revenue is recovering but still below its 2020 peak: $535,000 last quarter, up 24% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -245% | -3457 points |
| Q2 2026 | -487% | -134 points |
| Q1 2026 | -337% | +46 points |
| Q4 2025 | -455% | -195 points |
| Q3 2025 | 3212% | +3358 points |
| Q2 2025 | -352% | -225 points |
| Q1 2025 | -383% | -161 points |
| Q4 2024 | -260% | +353 points |
NEON's operating margin was −245% last quarter, down 3457 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.
NEON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.6M | -$30K |
| Q2 2026 | -$1.9M | -$172K |
| Q1 2026 | -$2.1M | -$719K |
| Q4 2025 | -$5.6M | -$4.5M |
| Q3 2025 | -$1.6M | -$308K |
| Q1 2025 | -$1.4M | +$515K |
| Q4 2024 | -$1.2M | +$1.1M |
| Q3 2024 | -$1.3M | +$513K |
NEON 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.
NEON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
NEON has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
NEON Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -3.0x | Net Cash |
| Q1 2026 | -3.2x | Net Cash |
| Q4 2025 | -3.4x | Net Cash |
| Q3 2025 | -1.4x | Net Cash |
NEON 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).
NEON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.4 | Oversold |
| Stochastic | 12.3 | Oversold |
NEON's weekly RSI is 29 (oversold) and its Stochastic is 12 (oversold).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
NEON PE vs Technology Sector
| Metric | NEON | Sector median | Relative |
|---|---|---|---|
| PE | 1.3x | 28x | 95% below |
| PE % | 0 | 35 | 35 pts below |
NEON 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 NEON on trend strength, trading above more of its moving averages.
NEON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.76 | 17% below |
| 20 week MA | $0.83 | 24% below |
| 50 week MA | $1.34 | 53% below |
| 100 week MA | $6.23 | 90% below |
| 200 week MA | $5.36 | 88% below |
NEON is in a downtrend: it's below all five of its weekly moving averages, and 88% 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 NEON on returns for 2026, with the stronger performance.
NEON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.90 | $7.11 | +274% |
| 2021 | $7.11 | $9.34 | +31% |
| 2022 | $9.34 | $5.60 | -40% |
| 2023 | $5.60 | $2.29 | -59% |
| 2024 | $2.29 | $8.26 | +261% |
| 2025 | $8.26 | $1.93 | -77% |
| 2026 YTD | $1.93 | $0.63 | -67% |
NEON's yearly returns have swung widely, from +274% in 2020 to −77% in 2025. It's down 67% so far in 2026.