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.
SANG
Sangoma Technologies Corporation
There isn't enough reported data to score SANG 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.
SANG Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Under pressure | |
| Unavailable | |
| Under pressure |
SANG's profitability and balance sheet are currently under pressure. There isn't enough data to rate its revenue and cash flow.
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.
SANG PE Valuation
SANG 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.
SANG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| -- | |
| Limited | |
| -- |
Analysts expect SANG's losses to shrink, with revenue holding steady.
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 stronger earnings trend. Trailing diluted EPS is down 112% for AAOI versus SANG down 400%.
SANG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2025 | -$0.15 | +$0.11 |
| Q2 2024 | -$0.26 | +$0.62 |
| Q2 2023 | -$0.88 | +$2.64 |
| Q2 2022 | -$3.52 | -7140% |
| Q2 2021 | $0.05 | -80% |
| Q1 2021 | $0.27 | +17% |
| Q4 2020 | $0.49 | +123% |
| Q3 2020 | $0.29 | 0% |
SANG has swung to a loss: it lost $0.15 per share over the past year, after a profit the year before.
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% |
SANG has the stronger quarterly revenue trend. Revenue is up 127% for AAOI versus up 558% for SANG.
| 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's operating margin was −0.5% last quarter, up 15 points from the same quarter a year ago, near the top of its range since 2019.
SANG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2025 | $236.7M | -4.3% |
| Q2 2024 | $247.3M | -2.1% |
| Q2 2023 | $252.5M | +13% |
| Q2 2022 | $224.4M | +524% |
| Q2 2021 | $36M | +82% |
| Q1 2021 | $19.7M | +9.2% |
| Q4 2020 | $19M | +9.6% |
| Q3 2020 | $18.4M | +24% |
SANG's revenue has grown year over year for 21 quarters in a row: $237M last quarter, up 558% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2025 | -2.7% | +0.9 points |
| Q2 2024 | -3.8% | -12 points |
| Q2 2023 | -13% | -23 points |
| Q2 2022 | -47% | -56 points |
| Q2 2021 | -3.6% | -12 points |
| Q1 2021 | 8.4% | -0.3 points |
| Q4 2020 | 10% | +2.8 points |
| Q3 2020 | 9.7% | +3.9 points |
SANG's operating margin was −2.7% last quarter, up 0.9 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 |
SANG has the stronger cash trend. Its trailing FCF is up 1,063% versus its history, compared with AAOI at down 676%.
SANG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2025 | $39.4M | -1.8% |
| Q2 2024 | $40.1M | +79% |
| Q2 2023 | $22.5M | +17% |
| Q2 2022 | $19.2M | +570% |
| Q2 2021 | $2.9M | -48% |
| Q1 2021 | $1.7M | +83% |
| Q4 2020 | $3.4M | +$5.4M |
| Q3 2020 | $1.7M | +33% |
SANG generated $121M in free cash flow over the past year, more than ten times what it generated the year before.
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 the edge over SANG on shareholder dilution, with a more favorable share count trend.
SANG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +247K shares |
| 1 year | +76% | +14.5M shares |
| 3 years | +331% | +25.7M shares |
| 5 years | +621% | +28.9M shares |
| Available history | +578% | +28.6M shares |
SANG has 33M diluted shares, up 76% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2025 | $2.8M |
| Q2 2023 | $559,000 |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
SANG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2021 | 2.9x | Moderate |
| Q1 2021 | 4.1x | High |
| Q4 2020 | -1.6x | Net Cash |
| Q3 2020 | -1.7x | Net Cash |
| Q2 2020 | 2.0x | Healthy |
| Q1 2020 | 2.7x | Moderate |
| Q4 2019 | 3.1x | Elevated |
| Q3 2019 | 0.3x | Very low |
SANG's net debt is about 2.9 years of its operating earnings (EBITDA), up from 2.0 years a year ago.
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).
SANG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.1 | Neutral |
| Stochastic | 76.3 | Neutral |
SANG's weekly RSI is 61 (neutral) and its Stochastic is 76 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
SANG PE vs Technology Sector
| Metric | SANG | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
SANG 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.
SANG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.60 | 3.7% above |
| 20 week MA | $4.18 | 14% above |
| 50 week MA | $4.29 | 11% above |
| 100 week MA | $4.98 | 4.2% below |
| 200 week MA | $4.63 | 3% above |
SANG 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 SANG on returns for 2026, with the stronger performance.
SANG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.3 | $18.1 | +36% |
| 2021 | $18.1 | $16.7 | -7.7% |
| 2022 | $16.7 | $3.79 | -77% |
| 2023 | $3.79 | $3.20 | -16% |
| 2024 | $3.20 | $7.00 | +119% |
| 2025 | $7.00 | $5.03 | -28% |
| 2026 YTD | $5.03 | $4.77 | -5.2% |
SANG's yearly returns have swung widely, from +119% in 2024 to −77% in 2022. It's down 5.2% so far in 2026.