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.
SLNH
Soluna Holdings, Inc.
There isn't enough reported data to score SLNH 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.
SLNH Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Weak | |
| Strong |
SLNH's revenue and balance sheet are currently strong, but its profitability and cash flow are 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.
SLNH PE Valuation
SLNH 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.
SLNH Forward outlook
There aren't enough analyst estimates for SLNH 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 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.
SLNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$2.21 | +$5.92 |
| Q1 2026 | -$2.72 | +$7.69 |
| Q4 2025 | -$3.36 | +$8.79 |
| Q3 2025 | -$7.98 | +$0.89 |
| Q2 2025 | -$8.13 | +$3.85 |
| Q1 2025 | -$10.41 | +$7.10 |
| Q4 2024 | -$12.15 | +$11.49 |
| Q3 2024 | -$8.87 | +$48.89 |
SLNH 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 SLNH 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 SLNH on profitability, with a higher operating margin.
SLNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $15.1M | +145% |
| Q1 2026 | $9.4M | +58% |
| Q4 2025 | $9.2M | +11% |
| Q3 2025 | $8.4M | +12% |
| Q2 2025 | $6.2M | -36% |
| Q1 2025 | $5.9M | -53% |
| Q4 2024 | $8.3M | -18% |
| Q3 2024 | $7.5M | +30% |
SLNH's revenue has grown year over year for four quarters in a row: $15M last quarter, up 145% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -113% | -4.9 points |
| Q1 2026 | -177% | -56 points |
| Q4 2025 | -131% | +295 points |
| Q3 2025 | -92% | +27 points |
| Q2 2025 | -108% | -70 points |
| Q1 2025 | -121% | -124 points |
| Q4 2024 | -426% | -402 points |
| Q3 2024 | -120% | -55 points |
SLNH's operating margin was −113% last quarter, down 4.9 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 |
AAOI has burned cash in almost every quarter: −$883M over the past year, against −$302M the year before.
SLNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$12.1M | -$2.4M |
| Q1 2026 | -$8.9M | -$5M |
| Q4 2025 | -$16.7M | -$9.7M |
| Q3 2025 | -$6.8M | -$3.4M |
| Q2 2025 | -$9.7M | -$2.6M |
| Q1 2025 | -$4M | -220% |
| Q4 2024 | -$7M | -662% |
| Q3 2024 | -$3.5M | +$6.7M |
SLNH 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 the edge over SLNH on shareholder dilution, with a more favorable share count trend.
SLNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +56% | +46.9M shares |
| 1 year | +774% | +116M shares |
| 3 years | +22144% | +130M shares |
| 5 years | +32535% | +131M shares |
SLNH has 131M diluted shares, up 774% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $75,000 |
| Q1 2026 | $56,000 |
| Q4 2025 | $87,000 |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
| Q4 2019 | — |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
SLNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2024 | -3.8x | Net Cash |
| Q1 2021 | -2.2x | Net Cash |
| Q4 2020 | -0.8x | Net Cash |
| Q3 2020 | -0.8x | Net Cash |
| Q2 2020 | -0.3x | Net Cash |
| Q1 2020 | -4.0x | Net Cash |
| Q4 2019 | -4.4x | Net Cash |
| Q3 2019 | -2.1x | Net Cash |
SLNH 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).
SLNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.0 | Neutral |
| Stochastic | 10.7 | Oversold |
SLNH's weekly RSI is 36 (neutral) and its Stochastic is 11 (oversold).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
SLNH PE vs Technology Sector
| Metric | SLNH | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
SLNH 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 SLNH on trend strength, trading above more of its moving averages.
SLNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.77 | 31% below |
| 20 week MA | $1.03 | 49% below |
| 50 week MA | $1.19 | 55% below |
| 100 week MA | $1.28 | 59% below |
| 200 week MA | $3.00 | 82% below |
SLNH is in a downtrend: it's below all five of its weekly moving averages, and 82% 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 SLNH on returns for 2026, with the stronger performance.
SLNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.0 | $111.8 | +557% |
| 2021 | $111.8 | $266.3 | +138% |
| 2022 | $266.3 | $8.75 | -97% |
| 2023 | $8.75 | $4.00 | -54% |
| 2024 | $4.00 | $2.23 | -44% |
| 2025 | $2.23 | $1.41 | -37% |
| 2026 YTD | $1.41 | $0.53 | -62% |
SLNH has finished four years in a row lower, and it's down 62% so far in 2026.