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Q1 25 EPS
$-0.02
BEAT +46.67%
Est. $-0.04
Q1 25 Revenue
$99.9M
BEAT +0.49%
Est. $99.4M
vs S&P Since Q1 25
+705.2%
BEATING MARKET
AAOI +736.8% vs S&P +31.5%
Market Reaction
Did AAOI Beat Earnings? Q1 2025 Results
Applied Optoelectronics delivered a quarter defined by transformation, reporting Q1 2025 revenue of $99.86 million, more than double the $40.67 million posted a year ago, while narrowing its non-GAAP loss to just $0.02 per share against a consensus e… Read more Applied Optoelectronics delivered a quarter defined by transformation, reporting Q1 2025 revenue of $99.86 million, more than double the $40.67 million posted a year ago, while narrowing its non-GAAP loss to just $0.02 per share against a consensus expectation of a $0.04 loss. The single biggest driver was a record-breaking surge in CATV revenue, which soared to $64.50 million from $8.74 million in Q1 2024, fueled by a major North American cable operator's aggressive HFC network upgrade campaign involving 1.8GHz amplifier deployments. GAAP gross margin expanded sharply to 30.6% from 18.7%, and adjusted EBITDA turned positive at $435,000, compared to negative $13.02 million a year earlier. Datacenter revenue contributed $32.05 million, with CEO Dr. Thompson Lin citing three new design wins at a hyperscale customer and growing demand for 400G and 800G transceivers. Looking ahead, AOI guided Q2 2025 revenue of $100 million to $110 million and expressed rising confidence in a second-half 800G ramp, with plans to exit 2025 at production capacity exceeding 100,000 units per month.
Key Takeaways
- • Record quarterly CATV revenue drove significant year-over-year revenue growth
- • GAAP gross margin expanded to 30.6% from 18.7% year-over-year
- • Revenue more than doubled compared to Q1 2024
- • Non-GAAP net loss narrowed dramatically to $0.9 million from $12.0 million year-over-year
AAOI YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
AAOI Revenue by Segment
With YoY comparisons, source: SEC Filings
“We're pleased to deliver results that were in line with or better than our expectations. We continue to see strong demand in the CATV market and achieved the highest quarterly CATV revenue in AOI's history during the first quarter. In our datacenter business, we continued to engage in meaningful dialogue with our customers and secured three new design wins with an existing hyperscale customer. We have seen and expect to continue to see a growing demand for our 400G and 800G products and we are actively working to build out our capacity to address this demand. Lastly, we began several new qualification efforts while supporting existing qualification efforts on 800G products with multiple large hyperscale customers and based on forecasts we are seeing, we have increased confidence in a second half of 2025 ramp in 800G sales.”
— Thompson Lin, Q1 2025 Earnings Press Release
AAOI Earnings Trends
AAOI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AAOI EPS Trend
Earnings per share: estimate vs actual
AAOI Revenue Trend
Quarterly revenue: estimate vs actual
AAOI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-0.05 | $-0.07 | -44.93% | $151.1M | -2.37% |
| Q4 25 BEAT FY | $-0.11 | $-0.01 | +91.07% | $134.3M | +4.71% |
| FY Full Year | — | $-0.26 | — | $455.7M | — |
| Q3 25 MISS | $-0.09 | $-0.09 | -2.27% | $118.6M | -0.95% |
| Q2 25 MISS | $-0.07 | $-0.16 | -116.22% | $103.0M | -2.70% |
| Q1 25 BEAT | $-0.04 | $-0.02 | +46.67% | $99.9M | +0.49% |