Lumentum Revenue Jumps 136.5% to $1.26 Billion, Guides Higher Again
Lumentum Holdings more than doubled its quarterly revenue and forecast another step up, reporting the results on the same morning it agreed to be acquired by Marvell Technology in an all-stock deal.
Revenue for the fiscal first quarter ended Sept. 26 reached $1.26 billion, up 136.5% from $533.8 million a year earlier and up 25.5% from the prior quarter, the optical-components maker said in an 8-K Monday.
GAAP net income was $360.3 million, or $3.54 per diluted share, compared with $4.2 million, or 5 cents, a year ago. On a non-GAAP basis, Lumentum earned $4.57 per share, up from $1.10.
Margins widened sharply. GAAP gross margin rose to 51.0% from 34.0%, and non-GAAP operating margin climbed to 42.3% from 18.7%, according to the release.
Lasers and switches lead
CEO Michael Hurlston said all businesses grew, with pump lasers and optical circuit switches the leading contributors. He said the company secured its second major NPO/CPO win during the quarter, "backed by purchase commitments exceeding $5 billion."
Systems revenue jumped 228.8% from a year earlier to $508.4 million, while components revenue rose 98.9% to $754.2 million.
Guidance
For the fiscal second quarter, Lumentum forecast revenue of $1.575 billion to $1.625 billion, non-GAAP operating margin of 45.0% to 46.0% and non-GAAP earnings of $5.90 to $6.20 per share.
Cash, cash equivalents and short-term investments totaled $2.0 billion at quarter-end, down $758.8 million from the end of the prior quarter.
Separately on Monday, Lumentum agreed to be acquired by Marvell for 4.500 Marvell shares per Lumentum share, according to a second 8-K. The deal is expected to close in the first half of calendar 2028.
By the numbers
- $1.26 billion revenue, up 136.5% year over year
- $3.54 GAAP EPS; $4.57 non-GAAP EPS
- 42.3% non-GAAP operating margin
- $1.575 billion to $1.625 billion fiscal Q2 revenue outlook
Sources
- Lumentum Holdings Form 8-K with fiscal first-quarter 2027 results, filed Nov. 2, 2026 (accession 0001628280-26-068655)
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