Earnings Releases·Nov 2, 2026, 7:12 AM ET

Lumentum — First Quarter Fiscal Year 2027 Earnings Summary

Net revenue surged 25.5% sequentially to $1.26 billion and 136.5% year-over-year, driven by 98.9% growth in the Components segment and 228.8% growth in Systems; Non-GAAP net income rose to $461.1 million ($4.57/share) from $326.3 million in Q4 FY2026.
Margins expanded significantly with Non-GAAP gross margin reaching 53.2% (up 280 bps sequentially) and Non-GAAP operating margin hitting 42.3% (up 570 bps sequentially), supported by strong performance in pump lasers and optical circuit switches.
Management raised Q2 FY2027 guidance to $1.575–$1.625 billion in revenue, projecting $350 million in sequential growth, with Non-GAAP operating margin forecast at 45.0%–46.0% and diluted EPS at $5.90–$6.20.
The company secured a second major NPO/CPO win with purchase commitments exceeding $5 billion, while positioning optical switching as a potential multi-billion-dollar annual revenue stream.
Cash and short-term investments decreased to $2.0 billion from $2.76 billion in Q4 FY2026, while current long-term debt declined to $1.36 billion from $1.60 billion.