Lumentum Holdings — 2026Q2 财报

“Lumentum delivered an exceptional third quarter, with revenue growing 90% year over year to a record $808 million.”

Revenue grew 90% year over year to a record $808 million in fiscal Q3, which CEO Michael Hurlston called an exceptional quarter.

“While our top line growth continues to garner headlines, the more impressive part of our recent performance has been our margin expansion. In fiscal Q3, gross margin improved by 540 basis points on quarter and operating margin by 700 basis points”

Margin expansion outpaced the headline growth: gross margin improved 540 basis points and operating margin 700 basis points quarter over quarter.

“This quarter, mix was aided by strength in laser chips, but also by a less-heralded part of our portfolio, ‘scale-across’ components, which include our pump lasers and narrow linewidth laser assemblies. As our key growth drivers of co-packaged optics and optical circuit switches begin to kick in, we would expect further increases in earnings power.”

Mix was helped by laser chips and 'scale-across' components — pump lasers and narrow linewidth laser assemblies — with co-packaged optics and optical circuit switches framed as the next earnings-power drivers.

“The Company held $3,172.3 million in total cash, cash equivalents, and short-term investments at the end of the third quarter of fiscal year 2026, up $2,017.0 million from the end of the second quarter of fiscal year 2026 primarily due to the proceeds from the issuance of Series A Convertible Preferred Stock in March 2026.”

Cash, equivalents and short-term investments jumped $2,017.0 million sequentially to $3,172.3 million, primarily from the March 2026 Series A Convertible Preferred Stock issuance.

“Net revenue in the range of $960 million to $1.01 billion”

Business outlook: fiscal Q4 2026 net revenue guided to $960 million to $1.01 billion, another large sequential step-up.

“During the third quarter, our cash and short-term investments increased by $2.02 billion to $3.17 billion, with the increase primarily driven by NVIDIA's direct investment in Lumentum.”

CFO Wajid Ali: cash and short-term investments rose $2.02 billion sequentially to $3.17 billion, driven primarily by NVIDIA's direct investment in Lumentum.

“In OCS, the multiyear, multibillion-dollar purchase agreement we recently announced ensures sustained long-term growth. Our OCS ramp is largely on track, although our pace and slope are gated by the supply chain.”

CEO Michael Hurlston: the recently announced multiyear, multibillion-dollar OCS purchase agreement underpins long-term growth, but the ramp's pace and slope are gated by the supply chain.

“Our ultra-high-power laser chip manufacturing ramp for CPO applications is also proceeding according to plan. We achieved sequential growth this quarter and are on schedule to both deliver meaningful revenue in our December quarter and fulfill the multi-hundred million dollar purchase order slated for the first half of calendar year 2027.”

Hurlston said the ultra-high-power laser chip ramp for co-packaged optics is proceeding to plan — on schedule for meaningful December-quarter revenue and fulfillment of a multi-hundred million dollar purchase order slated for the first half of calendar 2027.

“We anticipate net revenue for the fourth quarter of fiscal year '26 to be in the range of $960 million to $1.01 billion. The $985 million midpoint would represent another new all-time quarterly revenue record for Lumentum.”

CFO Wajid Ali guided fiscal Q4 2026 revenue to $960 million to $1.01 billion, with the $985 million midpoint marking another all-time quarterly record.