AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
SMRT
SmartRent, Inc.
SMRT has a slight 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.
SMRT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Stable | |
| Unavailable |
SMRT's revenue is currently healthy, and its cash flow is stable, but its profitability 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.
SMRT PE Valuation
SMRT 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.
SMRT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect SMRT's losses to shrink, with revenue growing.
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 SMRT on earnings, with more consistent year-over-year improvement.
SMRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.09 | +$0.27 |
| Q2 2026 | -$0.10 | +$0.28 |
| Q1 2026 | -$0.13 | +$0.21 |
| Q4 2025 | -$0.32 | -$0.15 |
| Q3 2025 | -$0.36 | -$0.24 |
| Q2 2025 | -$0.38 | -$0.27 |
| Q1 2025 | -$0.34 | -$0.20 |
| Q4 2024 | -$0.17 | $0.00 |
SMRT is still losing money, but far less than before: $0.09 per share over the past year, against $0.49 at its worst in late 2022.
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 SMRT 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 SMRT on profitability, with a higher operating margin.
SMRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $41.6M | +15% |
| Q2 2026 | $39.8M | +4% |
| Q1 2026 | $38.7M | -6.4% |
| Q4 2025 | $36.5M | +3.1% |
| Q3 2025 | $36.2M | -11% |
| Q2 2025 | $38.3M | -21% |
| Q1 2025 | $41.3M | -18% |
| Q4 2024 | $35.4M | -41% |
SMRT's revenue is recovering but still below its 2023 peak: $42M last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -12% | +7.8 points |
| Q2 2026 | -16% | +14 points |
| Q1 2026 | -13% | +87 points |
| Q4 2025 | -11% | +26 points |
| Q3 2025 | -19% | +9.6 points |
| Q2 2025 | -31% | -16 points |
| Q1 2025 | -100% | -80 points |
| Q4 2024 | -37% | -27 points |
SMRT's operating margin was −12% last quarter, up 7.8 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.
SMRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6M | +$4.9M |
| Q2 2026 | -$1.9M | +$14.3M |
| Q1 2026 | -$4.6M | +$9.8M |
| Q4 2025 | $7.7M | +$20.9M |
| Q3 2025 | -$2.2M | +$1.7M |
| Q2 2025 | -$16.2M | -$2.1M |
| Q1 2025 | -$14.3M | -$11M |
| Q4 2024 | -$13.3M | -281% |
SMRT 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.
SMRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -1.5M shares |
| 1 year | +1.4% | +2.5M shares |
| 3 years | -5.3% | -10.7M shares |
SMRT has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4M |
| Q4 2025 | $29,000 |
| Q3 2025 | — |
| Q2 2025 | $3.7M |
| Q1 2025 | $1.2M |
| Q4 2024 | $5.1M |
| Q3 2024 | $17.1M |
| Q2 2024 | $2M |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
SMRT Net Leverage
SMRT'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).
SMRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.8 | Neutral |
| Stochastic | 82.2 | Overbought |
SMRT's weekly RSI is 65 (neutral) and its Stochastic is 82 (overbought).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
SMRT PE vs Technology Sector
SMRT 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.
SMRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.32 | 27% above |
| 20 week MA | $1.25 | 34% above |
| 50 week MA | $1.44 | 16% above |
| 100 week MA | $1.34 | 25% above |
| 200 week MA | $1.99 | 16% below |
SMRT 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 SMRT on returns for 2026, with the stronger performance.
SMRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $11.1 | $10.1 | -9% |
| 2022 | $10.1 | $2.14 | -79% |
| 2023 | $2.14 | $3.19 | +49% |
| 2024 | $3.19 | $1.63 | -49% |
| 2025 | $1.63 | $2.03 | +25% |
| 2026 YTD | $2.03 | $1.67 | -18% |
SMRT has finished lower in three of the last five years. It's down 18% so far in 2026.