### @AAOI — Confirmed — from the 2025 annual report
Let me say that - everyone's talking laser shortage, okay? But here's our number: two customers, 81.9% of revenue. One distributor at 53.1% of revenue and 86.5% of receivables. Microsoft at 28.8% under five-year agreement. Top ten at 96.6%. Amazon about 7% with warrant. Lose one and it's near-existential. All right?
- tier: Confirmed (✓)
- source: AAOI / Concentration: the most extreme number it discloses
- receipt: https://ticker.thevixguy.com/p/p-day-20260806-aaoi-src-aaoi-customer-concentration-conversation
- posted: 2026-08-06T11:57:14.983Z