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Lumentum Holdings Inc.

LITE

Lumentum Holdings Inc. • NASDAQ
$325.16 ▲ 5.48% (+16.88)
Market Cap $22.60 B
52w High $325.46
52w Low $45.65
Dividend Yield 0%
P/E 199.48
Volume 1.67M
Outstanding Shares 69.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $480.7M $168.3M $213.3M 44.373% $3.06 $55.1M ▲
Q4-2025 $480.7M ▲ $168.3M ▲ $213.3M ▲ 44.373% ▲ $3.06 ▲ $55M ▲
Q3-2025 $425.2M ▲ $160.2M ▲ $-44.1M ▲ -10.372% ▲ $-0.64 ▲ $26.6M ▼
Q2-2025 $402.2M ▲ $151.2M ▼ $-60.9M ▲ -15.142% ▲ $-0.88 ▲ $28.2M ▲
Q1-2025 $336.9M $160.3M $-82.4M -24.458% $-1.21 $-3.1M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $1.122B ▲ $4.613B ▲ $3.832B ▲ $780.8M ▼
Q4-2025 $877.1M ▲ $4.219B ▲ $3.084B ▼ $1.135B ▲
Q3-2025 $866.7M ▼ $3.975B ▲ $3.095B ▲ $879.5M ▲
Q2-2025 $896.7M ▼ $3.966B ▼ $3.094B ▲ $872.3M ▼
Q1-2025 $916.1M $3.97B $3.074B $895.9M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $4.2M ▼ $57.9M ▼ $-67.8M ▼ $262.1M ▲ $252.2M ▲ $-18.3M ▼
Q4-2025 $213.3M ▲ $64M ▲ $-59.4M ▼ $-300K ▲ $4.3M ▼ $10.1M ▲
Q3-2025 $-44.1M ▲ $-1.6M ▼ $53.1M ▲ $-14.8M ▼ $36.7M ▲ $-64.4M ▼
Q2-2025 $-60.9M ▲ $24.3M ▼ $-30.7M ▲ $-3.1M ▼ $-9.5M ▼ $-15.9M ▲
Q1-2025 $-82.4M $39.6M $-47.1M $60M $52.5M $-34.5M

Revenue by Products

Product Q2-2023Q3-2023Q4-2023Q1-2026
Components
Components
 $0 ▲$0 ▲$0 ▲$380.00M ▲
Systems
Systems
 $0 ▲$0 ▲$0 ▲$150.00M ▲
Optical Communications Segment
Optical Communications Segment
 $380.00M ▲$290.00M ▼$1.33Bn ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has been relatively steady over the last few years, but profitability has been very up and down. After a period of healthy profits earlier in the period, margins compressed sharply and the company fell into operating and net losses, reflecting softer demand, mix shifts, and likely higher costs and integration efforts. More recently, sales have started to recover and the company has moved back into slight profitability, but earnings remain thin and volatile. Overall, the income statement shows a business in transition: moving from a more mature, profitable phase into a reset period, with early signs that a recovery may be underway but not yet firmly established.

Balance Sheet

Balance Sheet The balance sheet shows a company that is still financially intact but carrying more debt and less cushion than a few years ago. Total assets have stayed fairly stable, but cash levels are lower than in the past, while debt has climbed meaningfully over time. Shareholders’ equity has trended down, reflecting cumulative losses and possibly deal-related impacts, which means leverage is higher than it used to be. The company still has positive equity and a sizable asset base, but the balance sheet has clearly become more stretched and is more sensitive to prolonged weakness in profitability.

Cash Flow

Cash Flow Cash generation has remained positive at the operating level, but with a clear downward step compared with earlier, stronger years. Free cash flow used to be solidly positive, then slipped into negative territory more recently as lower operating cash flow met higher investment spending. This suggests management is continuing to invest in capacity and technology even as near-term cash flow is under pressure. The pattern fits a company leaning into a strategic growth cycle, but it also reduces financial flexibility in the short run and makes future results more dependent on a successful demand ramp in its target markets.

Competitive Edge

Competitive Edge Lumentum operates in a niche but strategically important part of the communications and AI infrastructure stack. Its strengths come from deep know‑how in photonics, proprietary laser and optical technologies, and its control over key manufacturing steps like indium phosphide fabrication. The reported exclusive role as a laser supplier for a major AI chip leader’s co‑packaged optics effort provides a meaningful anchor customer and validates its technology. At the same time, the moat is described as “narrow”: competition is intense, customer relationships are concentrated, and technology cycles move quickly. Lumentum’s position is differentiated and valuable, but not unassailable, and it must execute well to maintain share.

Innovation and R&D

Innovation and R&D Innovation is clearly at the center of the company’s strategy. Lumentum is investing heavily in next‑generation optical components for AI data centers, including advanced lasers, high‑speed transceivers, and co‑packaged optics. Its specialization in electro‑absorption modulated lasers and indium phosphide gives it a technical edge in performance‑critical applications. The product roadmap extends from ultra‑fast data center links to industrial lasers and 3D sensing, giving multiple ways to benefit from technology trends. However, this innovation push also helps explain the current pressure on margins and cash flow: the company is spending today for growth that depends on successful ramps in AI and cloud infrastructure over the next several years.

Summary

Overall, Lumentum looks like a technically strong, strategically important photonics supplier that is financially in a mid‑cycle transition. The business has moved from a period of solid profitability into a reset phase marked by weaker margins, higher leverage, and tighter cash flow, while continuing to invest aggressively in next‑generation products. Its partnerships in AI data center optics, proprietary manufacturing capabilities, and focused R&D give it meaningful opportunities if demand unfolds as expected. The main risks are execution, competitive intensity, and reliance on a still‑developing AI infrastructure cycle to restore stronger and more stable profitability.

NEWS

November 14, 2025 · 9:00 AM UTC

Lumentum Announces Upcoming Investor Events

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November 10, 2025 · 7:00 AM UTC

OMNI-LITE INDUSTRIES REPORTS THIRD QUARTER AND YEAR-TO-DATE FISCAL 2025 RESULTS

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November 4, 2025 · 4:03 PM UTC

Lumentum Announces First Quarter of Fiscal Year 2026 Financial Results

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October 8, 2025 · 4:03 PM UTC

Lumentum to Announce Fiscal First Quarter 2026 Financial Results on November 4, 2025

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September 29, 2025 · 7:00 AM UTC

OMNI-LITE INDUSTRIES NOMINATES DIRECTOR

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