Lumentum Holdings Inc · Q4 2025 earnings

Briefing

Lumentum reported Q4 FY2026 revenue of $1.01 billion with strong non-GAAP profitability despite a large one-time GAAP net loss from debt extinguishment.

Lumentum Holdings Inc. delivered record quarterly revenue of $1.01 billion in Q4 FY2026, driven by robust demand for optical components and systems tied to AI infrastructure. GAAP results were heavily impacted by a $7.8 billion non-cash loss on debt extinguishment, resulting in a net loss of $7.16 billion, while non-GAAP net income reached $326.3 million or $3.23 per share. The company provided strong Q1 FY2027 guidance with revenue expected between $1.225 billion and $1.275 billion.

• Q4 revenue reached $1.01 billion, up 109% year-over-year, with components at $649.4 million and systems at $356.9 million.
• Non-GAAP gross margin expanded to 50.4% and non-GAAP operating margin to 36.6%, reflecting operational leverage.
• GAAP net loss of $7.16 billion was driven by a $7.8 billion non-cash loss on convertible note equitization.
• Q1 FY2027 guidance midpoint of $1.25 billion revenue and 39.5-40.5% non-GAAP operating margin signals continued AI-driven acceleration.

Headline financials

Revenue & EPS history

Q1 FY2027 revenue expected in the range of $1.225 billion to $1.275 billion with non-GAAP operating margin of 39.5% to 40.5% and non-GAAP diluted EPS of $4.05 to $4.35.