Applied Optoelectronics, Inc. balance sheet

At the end of fiscal 2025, Applied Optoelectronics, Inc. had total assets of $1.17bn, total liabilities of $435m and shareholders' equity of $734m. It held $206m in cash against $164m of debt: net cash of $42.3m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Applied Optoelectronics, Inc.: balance sheet, annual
Fiscal year	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	2	11	22	32	28	50	83	56	60	43	35	25	45	67	206	500
Receivables	—	14	22	32	39	50	60	31	35	43	48	61	48	117	244	314
Inventory	—	12	20	34	66	52	76	93	85	110	93	80	64	88	183	279
Total current assets	—	39	78	113	154	158	230	194	193	209	194	183	173	301	676	1,190
Total assets	—	66	111	184	273	322	453	467	467	481	454	408	389	547	1,168	2,301
Accounts payable	—	7	15	31	29	36	44	30	33	29	34	48	33	105	144	286
Deferred revenue (current)	—	—	—	—	—	—	—	0	0	0	0	3	2	0	—	—
Total current liabilities	—	26	39	49	74	60	71	77	91	103	109	139	93	170	257	428
Short-term debt	—	—	—	10	31	8	1	24	33	38	50	57	23	22	34	57
Long-term debt	—	—	26	19	34	35	49	60	17	14	5	0	0	4	0	2
Total debt	0	0	26	29	65	43	50	84	110	116	128	137	99	157	164	186
Total liabilities	—	35	48	69	108	95	120	138	193	203	200	224	174	318	435	633
Shareholders' equity	21	31	63	115	165	227	333	329	274	278	255	185	215	229	734	1,668
Net debt (negative = net cash)	−2	−11	4	−4	37	−7	−33	28	50	73	94	112	54	89	−42	−313
Shares outstanding	—	—	—	15m	17m	18m	19m	20m	20m	25m	27m	29m	38m	49m	75m	84m

US$ millions unless shown otherwise. Fiscal quarters.

Applied Optoelectronics, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	75	117	171	211	224	244	299	314
Inventory	64	88	102	139	170	183	206	279
Total current assets	188	301	359	458	575	676	993	1,190
Total assets	410	547	645	797	979	1,168	1,566	2,301
Accounts payable	56	105	125	133	150	144	148	286
Deferred revenue (current)	1	0	—	—	—	—	—	—
Total current liabilities	117	170	191	217	249	257	259	428
Short-term debt	29	22	20	22	28	34	41	57
Long-term debt	0	4	2	0	0	0	0	2
Total debt	29	27	22	22	28	34	41	59
Total liabilities	198	318	336	372	419	435	460	633
Shareholders' equity	212	229	309	425	559	734	1,106	1,668
Shares outstanding	45m	49m	53m	62m	68m	75m	79m	84m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Applied Optoelectronics, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Applied Optoelectronics, Inc.