Lumentum Holdings Inc. (“Lumentum” or the “Company”) today reported results for its fiscal fourth quarter and full fiscal year ended June 27, 2026.

“Lumentum is positioned at the heart of a secular industry shift. As AI compute workloads increase in both speed and bandwidth, data center architects are turning to optical links as a primary means of connectivity. While our Q4 results demonstrate broad-based traction, key growth drivers such as OCS solutions and our cloud module business, where we are advancing 1.6T adoption, are beginning to layer in. Increasing demand for ultra-high-power CPO lasers, an initial order for ELS modules, as well as our breadth of NPO engagements are the first signs that optics are starting to penetrate in-rack connectivity, significantly upping our optical TAM,” said President and CEO Michael Hurlston.

“Looking ahead, our trajectory continues to accelerate as AI demand drives our Q1 revenue guidance midpoint to $1.25 billion, reaching our target model more than a quarter ahead of schedule.”

Fiscal Fourth Quarter:
Net revenue for the fourth quarter of fiscal year 2026 was $1.01 billion, with GAAP net loss of $7.2 billion, or $84.65 per diluted share. The GAAP net loss was driven by the equitization of certain amounts of our convertible notes in the fourth quarter of fiscal year 2026, which contributed to a one-time, non-cash loss on debt extinguishment of $7.8 billion. Net revenue for the third quarter of fiscal year 2026 was $808.4 million, with GAAP net income of $144.2 million, or $1.50 per diluted share. Net revenue for the fourth quarter of fiscal year 2025 was $480.7 million, with GAAP net income of $213.3 million, or $2.96 per diluted share.

Non-GAAP net income for the fourth quarter of fiscal year 2026 was $326.3 million, or $3.23 per diluted share. Non-GAAP net income for the third quarter of fiscal year 2026 was $225.7 million, or $2.37 per diluted share. Non-GAAP net income for the fourth quarter of fiscal year 2025 was $63.3 million, or $0.88 per diluted share.

The Company held $2.7 billion in total cash, cash equivalents, and short-term investments at the end of the fourth quarter of fiscal year 2026, a decrease of $433.9 million from the end of the third quarter of fiscal year 2026.

Full Fiscal Year 2026:
Net revenue for fiscal year 2026 was $3.01 billion, with GAAP net loss of $6.9 billion, or $92.96 per diluted share. The GAAP net loss was driven by the equitization of certain amounts of our convertible notes in the fourth quarter of fiscal year 2026, which contributed to a one-time, non-cash loss on debt extinguishment of $7.8 billion. Net revenue for fiscal year 2025 was $1.6 billion, with GAAP net income of $25.9 million, or $0.37 per diluted share.

Non-GAAP net income for fiscal year 2026 was $782.3 million, or $8.67 per diluted share. Non-GAAP net income for fiscal year 2025 was $146.4 million, or $2.06 per diluted share.

The Company held $2.7 billion in total cash, cash equivalents, and short-term investments at the end of the fourth quarter of fiscal year 2026, an increase of $1.9 billion from the end of fiscal year 2025.

Financial Overview – Fiscal Fourth Quarter Ended June 27, 2026

Financial Overview – Fiscal Year Ended June 27, 2026

The tables above provide comparisons of quarterly and annual results to prior periods, including sequential quarterly and year-over-year changes. A reconciliation between GAAP and non-GAAP financial measures is contained in this release under the section titled “Use of Non-GAAP Financial Measures”.

Business Outlook
Lumentum expects the following for the first quarter of fiscal year 2027:

• Net revenue in the range of $1.225 billion to $1.275 billion
• Non-GAAP operating margin of 39.5% - 40.5%
• Non-GAAP diluted net income per share of $4.05 to $4.35

We have not provided reconciliations from GAAP to non-GAAP financial measures or the equivalent GAAP measure for non-GAAP financial measures in our outlook, as they cannot be provided without unreasonable effort. A large portion of non-GAAP adjustments, such as stock-based compensation and related payroll expenses, acquisition related costs, net, integration related costs, restructuring and related charges, non-GAAP income tax reconciling adjustments, and other non-GAAP adjustments are by their nature highly volatile and we have low visibility as to the range that may be incurred in the future.

TrendForce 2026 Infrared Sensing Application Market and Branding Strategies
Release: 01 January 2026
Format: PDF / EXCEL
Language: Traditional Chinese / English
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