CIEN

EX-99.1

2 ex9912026q2earningspressre.htm

EX-99.1

Document

FOR IMMEDIATE RELEASE

Ciena Reports Fiscal Second Quarter 2026 Financial Results

Summary

•Fiscal second quarter 2026 revenue was $1.57 billion, up 40% year-over-year

•Fiscal second quarter 2026 adjusted Earnings Per Share (EPS) was $1.64, an increase of 290% compared to fiscal second quarter 2025

•Providing revenue guidance for fiscal third quarter 2026 of $1.625 billion plus or minus $50 million

•Raising revenue guidance for fiscal year 2026 to $6.3 billion plus or minus $100 million, a 32% increase YoY at the midpoint

HANOVER, Md. - June 4, 2026 - Ciena® Corporation (NYSE: CIEN) today announced financial results for its fiscal second quarter ended May 2, 2026.

"Today's results reflect the strength of our portfolio, the power of our business model, and disciplined execution in a dynamic supply environment," said Gary Smith, president and CEO, Ciena. "Our long-term strategy to be the global leader in high-speed connectivity - both across the WAN and in and around the data center - is tightly aligned to the structural, multi-year opportunities created by AI-driven demand, positioning us to capitalize on market dynamics and drive sustained, profitable growth."

"We delivered strong fiscal second quarter results, marked by significant year-over-year revenue growth, adjusted gross margin expansion, and nearly fourfold growth in adjusted earnings per share," said Marc Graff, Ciena’s Chief Financial Officer. "Our demonstrated ability to drive operating leverage gives us confidence in continued earnings expansion and long-term value creation for customers and shareholders."

Performance Summary for Fiscal Second Quarter Ended May 2, 2026

Revenue:

•$1.57 billion in the fiscal second quarter 2026, compared to $1.13 billion in the fiscal second quarter 2025

Net Income per diluted share:

•$1.49 GAAP and $1.64 adjusted (non-GAAP) for the fiscal second quarter 2026, compared to $0.06 and $0.42 for fiscal second quarter 2025, respectively

The tables below (in millions, except percentage data) provide comparisons of certain quarterly results. Appendices A and B set forth reconciliations between the GAAP and adjusted (non-GAAP) measures contained in this release.

1

GAAP Results (unaudited)Non-GAAP Results (unaudited)

Quarter EndedPeriodQuarter EndedPeriod

May 2,May 3,ChangeMay 2,May 3,Change

20262025Y-T-Y*20262025Y-T-Y*

Revenue$1,570.7 $1,125.9 39.5 %$1,570.7 $1,125.9 39.5 %

Gross margin44.0 %40.2 %3.8 %44.9 %41.0 %3.9 %

Operating expense$453.7 $420.0 8.0 %$397.8 $369.5 7.7 %

Operating margin15.1 %2.9 %12.2 %19.5 %8.2 %11.3 %

EBITDA$283.1 $66.7 324.4 %$341.8 $116.7 192.9 %

* Denotes % change, or in the case of margin, absolute change

Business Outlook

Ciena expects fiscal third quarter 2026 to include:

•Revenue of $1.625B billion plus or minus $50 million

•Adjusted (non-GAAP) gross margin in the range of 45% plus or minus 50 bps

•Adjusted (non-GAAP) operating expense in the range of $410 million plus or minus $10 million

•Adjusted (non-GAAP) operating margin between 19% and 20%

Ciena expects fiscal year 2026 to include:

•Revenue of $6.3 billion plus or minus $100 million

•Adjusted (non-GAAP) gross margin between 44.5% and 45%

•Adjusted (non-GAAP) operating expense in the range of $1.61 billion plus or minus $20 million

•Adjusted (non-GAAP) operating margin in the range of 19% plus or minus 50bps

Statements relating to business outlook are forward-looking in nature and actual results may differ materially. These statements should be read in the context of the "Key assumptions underlying our outlook" in our accompanying Earnings Presentation and each of the "Forward-Looking Statements" and "Reconciliation of Adjusted (Non- GAAP) Measurements" found in the Notes to Investors below.

Financial Highlights for the Fiscal Second Quarter 2026

•Two customers represented 10%-plus of revenue for a total of 34.0% of revenue.

•Average days' sales outstanding (DSOs) were 71.

•Inventory turns were 3.6.

•Repurchased approximately 0.2 million shares of common stock for an aggregate price of $83.1 million under the $1 billion share repurchase program.

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Financial Performance by Segment

Revenue by Segment (unaudited)

Quarter Ended

May 2, 2026May 3, 2025

Revenue%**Revenue%**

Networking Platforms

Optical Networking$1,099.8 70.0 $773.6 68.7

Routing and Switching174.2 11.1 92.7 8.2

Total Networking Platforms1,274.0 81.1 866.3 76.9

Platform Software and Services93.9 6.0 85.4 7.5

Blue Planet Automation Software and Services23.4 1.5 28.0 2.5

Global Services

Maintenance, Support, and Learning89.3 5.7 79.4 7.1

Implementation79.7 5.1 58.2 5.2

Advisory and Enablement10.4 0.6 8.6 0.8

Total Global Services179.4 11.4 146.2 13.1

Total$1,570.7 100.0 $1,125.9 100.0

** Denotes % of total revenue

Supplemental Materials and Live Web Broadcast of Unaudited Fiscal Second Quarter 2026 Results

Today, Thursday, June 4, 2026, in conjunction wi

cien-202603050000936395false00009363952026-03-052026-03-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): March 5, 2026

Ciena Corporation (Exact name of registrant as specified in its charter)

Commission File Number: 001-36250

Delaware (State or other jurisdiction of incorporation) 7035 Ridge Road, Hanover, MD (Address of principal executive offices)

23-2725311 (IRS Employer Identification No.) 21076 (Zip Code)

Registrant's telephone number, including area code: (410) 694-5700

Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, $0.01 par value

CIEN

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On March 5, 2026, Ciena Corporation ("Ciena") issued a press release announcing its financial results for its fiscal first quarter ended January 31, 2026. The text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this "Report"). As discussed in the press release, Ciena will be hosting an investor call to discuss its results of operations for its fiscal first quarter ended January 31, 2026.

In conjunction with the issuance of this press release, Ciena posted to the quarterly results page of the "Investors" section of www.ciena.com an accompanying investor presentation. The investor presentation is furnished as Exhibit 99.2 to this Report.

The information in Exhibits 99.1 and 99.2, as well as Item 2.02 of this Report, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended. Investors are encouraged to review the “Investors” page of our website at www.ciena.com because, as with the other disclosure channels that we use, from time to time we may post material information exclusively on that site.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number Description of Document

99.1 Text of Press Release dated March 5, 2026, issued by Ciena Corporation, reporting its results of operations for its fiscal first quarter ended January 31, 2026.

99.2 Investor Presentation for Ciena Corporation's fiscal first quarter ended January 31, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Ciena Corporation

Date: March 5, 2026 By: /s/ Sheela Kosaraju Sheela Kosaraju

Senior Vice President, General Counsel and Assistant Secretary

cien-202512110000936395false00009363952025-12-112025-12-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): December 11, 2025

Ciena Corporation (Exact name of registrant as specified in its charter)

Commission File Number: 001-36250

Delaware (State or other jurisdiction of incorporation) 7035 Ridge Road, Hanover, MD (Address of principal executive offices)

23-2725311 (IRS Employer Identification No.) 21076 (Zip Code)

Registrant's telephone number, including area code: (410) 694-5700

Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, $0.01 par value

CIEN

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On December 11, 2025, Ciena Corporation ("Ciena") issued a press release announcing its financial results for its fiscal fourth quarter ended November 1, 2025. The text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this "Report"). As discussed in the press release, Ciena will be hosting an investor call to discuss its results of operations for its fiscal fourth quarter ended November 1, 2025.

In conjunction with the issuance of this press release, Ciena posted to the quarterly results page of the "Investors" section of www.ciena.com an accompanying investor presentation. The investor presentation is furnished as Exhibit 99.2 to this Report.

The information in Exhibits 99.1 and 99.2, as well as Item 2.02 of this Report, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended. Investors are encouraged to review the “Investors” page of our website at www.ciena.com because, as with the other disclosure channels that we use, from time to time we may post material information exclusively on that site.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number Description of Document

99.1 Text of Press Release dated December 11, 2025, issued by Ciena Corporation, reporting its results of operations for its fiscal fourth quarter ended November 1, 2025.

99.2 Investor Presentation for Ciena Corporation's fiscal fourth quarter ended November 1, 2025.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Ciena Corporation

Date: December 11, 2025 By: /s/ Sheela Kosaraju Sheela Kosaraju

Senior Vice President, General Counsel and Assistant Secretary