AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
PCOR
Procore Technologies, Inc.
PCOR 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.
PCOR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Weak |
PCOR's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is 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.
PCOR PE Valuation
PCOR 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.
PCOR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for PCOR, 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.
PCOR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.23 | — |
| Q3 2026 | -$0.23 | +$0.61 |
| Q2 2026 | -$0.26 | +$0.70 |
| Q1 2026 | -$0.51 | +$0.35 |
| Q4 2025 | -$0.67 | +$0.05 |
| Q3 2025 | -$0.84 | -$0.33 |
| Q2 2025 | -$0.96 | -$0.32 |
| Q1 2025 | -$0.86 | +$0.11 |
| Q4 2024 | -$0.72 | +$0.62 |
PCOR has the edge over AAOI on earnings, with more consistent year-over-year improvement.
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 PCOR 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 PCOR on profitability, with a higher operating margin.
PCOR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $402.3M | +19% |
| Q2 2026 | $375.2M | +16% |
| Q1 2026 | $359.3M | +16% |
| Q4 2025 | $349.1M | +16% |
| Q3 2025 | $338.9M | +15% |
| Q2 2025 | $323.9M | +14% |
| Q1 2025 | $310.6M | +15% |
| Q4 2024 | $302M | +16% |
PCOR's revenue has grown year over year every quarter since late 2020: $402M last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -1.8% | +2.7 points |
| Q2 2026 | 1.1% | +11 points |
| Q1 2026 | -4.4% | +7.3 points |
| Q4 2025 | -12% | +9.7 points |
| Q3 2025 | -4.4% | +7.9 points |
| Q2 2025 | -9.3% | -4.1 points |
| Q1 2025 | -12% | -4.7 points |
| Q4 2024 | -22% | -7.6 points |
PCOR's operating margin was −1.8% last quarter, up 2.7 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.
PCOR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $91.5M | +10% |
| Q2 2026 | $80.9M | +190% |
| Q1 2026 | $73.8M | +19% |
| Q4 2025 | $109.2M | +527% |
| Q3 2025 | $83.1M | +133% |
| Q2 2025 | $27.9M | -51% |
| Q1 2025 | $62M | -7.5% |
| Q4 2024 | $17.4M | -55% |
PCOR 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.
PCOR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.6% | -2.4M shares |
| 1 year | +0.1% | +104K shares |
| 3 years | +5.3% | +7.6M shares |
| 5 years | +104% | +76.8M shares |
| Available history | +28% | +32.7M shares |
PCOR has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $175M |
| Q2 2026 | — |
| Q1 2026 | $100M |
| Q4 2025 | $23,000 |
| Q3 2025 | $25.7M |
| Q2 2025 | $3.1M |
| Q1 2025 | $100M |
| Q1 2021 | — |
PCOR spent $275M buying back its own shares over the past year.
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
PCOR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.5x | High |
| Q2 2026 | -10.5x | Net Cash |
| Q1 2026 | -42.3x | Net Cash |
PCOR's net debt is about 6.5 years of its operating earnings (EBITDA).
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).
PCOR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.9 | Neutral |
| Stochastic | 87.5 | Overbought |
PCOR's weekly RSI is 69 (neutral) and its Stochastic is 87 (overbought).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
PCOR PE vs Technology Sector
PCOR 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.
PCOR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $61.3 | 26% above |
| 20 week MA | $56.4 | 37% above |
| 50 week MA | $56.9 | 36% above |
| 100 week MA | $64.0 | 21% above |
| 200 week MA | $64.7 | 19% above |
PCOR 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 PCOR on returns for 2026, with the stronger performance.
PCOR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $88.6 | $81.7 | -7.8% |
| 2022 | $81.7 | $47.9 | -41% |
| 2023 | $47.9 | $69.2 | +44% |
| 2024 | $69.2 | $76.4 | +10% |
| 2025 | $76.4 | $74.5 | -2.4% |
| 2026 YTD | $74.5 | $77.2 | +3.6% |
PCOR has finished lower in three of the last five years. It's up 3.6% so far in 2026.