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Jun 28
Lumentum Q4 2025 Earnings Report
Exceeded revised revenue guidance and delivered GAAP profitability driven by strong demand in cloud and AI data center markets.
Key Takeaways
Lumentum reported Q4 2025 revenue of $480.7M and GAAP net income of $213.3M, with EPS of $2.96 and non-GAAP EPS of $0.88. Strong demand in cloud networking and AI infrastructure led to above-guidance revenue, supported by strength in 800G modules and EML chip sales.
Revenue reached $480.7M, above the revised guidance range.
GAAP EPS was $2.96; Non-GAAP EPS came in at $0.88.
Net income was $213.3M with GAAP operating margin at 38.1%.
Cloud networking drove growth with strong AI data center demand.
Lumentum
Lumentum
Lumentum Revenue by Segment
Revenue by Segment
Cloud Networking Revenue
CapyFin.comIndustrial Tech Revenue
CapyFin.com Forward Guidance
For Q1 FY26, Lumentum expects revenue between $350M and $375M, with GAAP loss per share of $0.05–$0.22 and non-GAAP EPS of $0.20–$0.35, reflecting typical seasonal declines and customer purchasing patterns.
Positive Outlook
- Strong demand for 800G modules and EML chips.
- Cloud and AI infrastructure markets continue to grow.
- Inventory reduction supports long-term profitability.
- Non-GAAP gross margin guidance maintained between 45%–47%.
- Strong operating leverage in second half of FY25 validates strategy.
Challenges Ahead
- Q1 FY26 revenue expected to decline sequentially to $350M–$375M.
- Seasonal slowdown expected in telecom and industrial segments.
- GAAP loss per share projected for Q1 FY26.
- Customer purchasing patterns contribute to short-term volatility.
- Softness in consumer-oriented photonics persists.