COHR

EX-99.1

2 d176836dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

Coherent Corp.

375 Saxonburg Blvd.

Saxonburg, PA 16056-9499

PRESS RELEASE

COHERENT CORP. REPORTS FIRST QUARTER FISCAL 2027 RESULTS

•

Q1 REVENUE OF $2.37B, INCREASED 50% Y/Y AND 56% Y/Y ON A PRO FORMA BASIS

•

Q1 GAAP GROSS MARGIN OF 39.1%, INCREASED 254 bps Y/Y; Q1 NON-GAAP GROSS MARGIN OF 40.6%, INCREASED 184 bps Y/Y

•

Q1 GAAP EPS OF $1.90, INCREASED $0.71 Y/Y; Q1 NON-GAAP EPS OF $2.09,

INCREASED $0.93 Y/Y

SAXONBURG, Pa., November 4, 2026 (GLOBE NEWSWIRE) – Coherent Corp. (NYSE: COHR) (“Coherent,” “We,” or the “Company”), a global leader in photonics, announced financial results today for its first quarter of fiscal year 2027 ended September 30, 2026.

Revenue for the first quarter of fiscal 2027 was $2.37 billion, with GAAP gross margin of 39.1% and GAAP net income of $1.90 per diluted share. On a non-GAAP basis, gross margin was 40.6% with net income per diluted share of $2.09.

“Q1 marked a strong start to fiscal 2027, with pro forma revenue up 56% year over year and non-GAAP EPS up 80%,” said Jim Anderson, CEO. “Our established businesses delivered strong growth, while new growth areas are beginning to ramp. As AI datacenters transition from copper to optical connectivity, Coherent’s broad photonics platform and manufacturing scale position us to help customers meet rising needs for bandwidth and energy efficiency. We expect fiscal 2027 pro forma revenue growth to exceed 60%.”

Sherri Luther, CFO, said, “Our Q1 results delivered substantial operating leverage and durable gross margin expansion, driven by pricing optimization and cost improvements. This margin strength gives us the confidence to raise our longer-term target. We expect to achieve our first quarter with non-GAAP gross margin above 45% before the end of calendar 2028.”

1

Selected First Quarter Financial Results and Comparisons (in millions, except percentages and per share data)

Table 1

GAAP Financial Results (unaudited)

Q1 FY27

Q4 FY26

Q1 FY26

Q/Q

Y/Y

Revenues

$ 2,370

$ 2,046

$ 1,581

15.9 %

49.9 %

Gross Margin %

39.1 %

38.5 %

36.6 %

66 bps

254 bps

R&D Expense %

10.0 %

10.6 %

9.8 %

(60 ) bps

18 bps

SG&A Expense %

12.9 %

13.0 %

15.9 %

(17 ) bps

(304 ) bps

Operating Expenses

$ 550

$ 533

$ 320

3.2 %

71.8 %

Operating Income(1)

$ 378

$ 254

$ 259

48.8 %

45.9 %

Operating Margin

15.9 %

12.4 %

16.4 %

353 bps

(46) bps

Net Earnings Attributable to Coherent Corp.

$ 385

$ 241

$ 226

59.9 %

70.2 %

Diluted Earnings Per Share

$ 1.90

$ 1.19

$ 1.19

$ 0.71

$ 0.71

(1)

Operating Income is defined as earnings before income taxes, interest expense, and other expense or income, net.

Selected First Quarter Financial Results and Comparisons (in millions, except percentages and per share data)

Table 1, continued

Non-GAAP Financial Results (unaudited)(1)

Q1 FY27

Q4 FY26

Q1 FY26

Q/Q

Y/Y

Revenues

$ 2,370

$ 2,046

$ 1,581

15.9 %

49.9 %

Gross Margin %

40.6 %

40.2 %

38.7 %

37 bps

184 bps

R&D Expense %

9.6 %

10.2 %

9.4 %

(62 ) bps

21 bps

SG&A Expense %

7.8 %

8.2 %

9.8 %

(44 ) bps

(205 ) bps

Operating Expenses

$ 412

$ 377

$ 304

9.2 %

35.5 %

Operating Income

$ 550

$ 446

$ 309

23.4 %

78.1 %

Operating Margin

23.2 %

21.8 %

19.5 %

142 bps

368 bps

Net Earnings Attributable to Coherent Corp.

$ 422

$ 351

$ 221

20.1 %

91.0 %

Diluted Earnings Per Share

$ 2.09

$ 1.74

$ 1.16

$ 0.35

$ 0.93

(1)

The Company has disclosed financial measurements in this earnings release that present financial information that are considered to be non-GAAP financial measures. These measurements are not a substitute for GAAP measurements, although the Company’s management uses these measurements as an aid in monitoring the Company’s on-going financial performance. The non-GAAP net earnings attributable to Coherent Corp., the non-GAAP diluted earnings per share, the non-GAAP operating income, the non-GAAP gross margin, the non-GAAP research and development, the non-GAAP selling, general and administration, the non-GAAP operating expenses, the non-GAAP interest and other (income) expense, and the non-GAAP income taxes, measure earnings and operating income (loss), respectively, excluding non-recurring or unusual items that are considered by management to be outside the Company’s standard operation and excluding certain non-cash items. There are limitations associated with the use of non-GAAP financial measures, including that such measures may not be entirely comparable to similarly titled measures used by other companies, due to potential differences among calculation methodologies. Thus, there can be no assurance whether (i) items excluded from the non-GAAP financial measures will occur in the future or (ii) there will be cash costs associated with items excluded from the non-GAAP financial measures. The Company compensates for these limitations by using these non-GAAP financial measures as supplements to GAAP finan

EX-99.1

2 d128030dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

Coherent Corp.

375 Saxonburg Blvd.

Saxonburg, PA 16056-9499

PRESS RELEASE

COHERENT CORP. REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2026 RESULTS

•

Q4 REVENUE OF $2.05B, INCREASED 34% Y/Y AND 42% Y/Y ON A PRO FORMA BASIS

•

Q4 GAAP GROSS MARGIN OF 38.5%, INCREASED 277 bps Y/Y; Q4 NON-GAAP GROSS MARGIN OF 40.2%, INCREASED 215 bps Y/Y

•

Q4 GAAP EPS OF $1.19, INCREASED $2.02 Y/Y; Q4 NON-GAAP EPS OF $1.74,

INCREASED $0.74 Y/Y

SAXONBURG, Pa., August 12, 2026 – Coherent Corp. (NYSE: COHR) (“Coherent,” “We,” or the “Company”), a global leader in photonics, announced financial results today for its fiscal fourth quarter and full year fiscal 2026 ended June 30, 2026.

Revenue for the fourth quarter of fiscal 2026 was $2.05 billion, with GAAP gross margin of 38.5% and GAAP net income of $1.19 per diluted share. On a non-GAAP basis, gross margin was 40.2% with net income per diluted share of $1.74.

“Fiscal 2026 was an outstanding year for Coherent, with record revenue, significant margin expansion, and non-GAAP EPS growth that was more than twice the rate of revenue growth,” said Jim Anderson, CEO. “We enter fiscal 2027 with exceptional customer demand, expanding production capacity, and multiple new growth platforms beginning to ramp. As AI datacenter architectures increasingly transition from copper to optical connectivity, we believe Coherent’s broad photonic technology portfolio and manufacturing scale uniquely position us to deliver accelerating growth and capitalize on this multi-year opportunity.”

Sherri Luther, CFO, said, “Strong operational execution across our business drove meaningful gross margin expansion and converted our top-line revenue growth into robust GAAP and non-GAAP EPS growth. As we enter fiscal 2027, we remain disciplined in our capital allocation, prioritizing investments to expand manufacturing capacity so we can efficiently fulfill the ongoing acceleration in customer demand.”

1

Selected Fourth Quarter and Full Year 2026 Financial Results and Comparisons (in millions, except percentages and per share data)

Table 1

GAAP Financial Results (unaudited)

Q4 FY26

Q3 FY26

Q4 FY25

Q/Q

Y/Y

FY 2026

FY 2025

FY/FY

Revenues

$ 2,046

$ 1,806

$ 1,529

13.3 %

33.8 %

$ 7,118

$ 5,810

22.5 %

Gross Margin %

38.5 %

37.7 %

35.7 %

82 bps

277 bps

37.5 %

35.2 %

233 bps

R&D Expense %

10.6 %

10.3 %

10.2 %

28 bps

40 bps

10.2 %

10.0 %

14 bps

SG&A Expense %

13.0 %

14.8 %

16.0 %

(180 ) bps

(302 ) bps

14.7 %

15.9 %

(127 ) bps

Operating Expenses

$ 533

$ 479

$ 540

11.2 %

(1.3 )%

$ 1,771

$ 1,753

1.0 %

Operating Income(1)

$ 254

$ 201

$ 6

26.5 %

4063.9 %

$ 898

$ 290

209.7 %

Operating Margin

12.4 %

11.1 %

0.4 %

130 bps

1,202 bps

12.6 %

5.0 %

762 bps

Net Earnings Attributable to Coherent Corp.

$ 241

$ 191

$ (96 )

25.8 %

(351.6 )%

$ 805

$ 49

1530.8 %

Diluted Earnings (Loss) Per Share

$ 1.19

$ 0.97

$ (0.83 )

$ 0.22

$ 2.02

$ 4.12

$ (0.52 )

$ 4.64

(1)

Operating Income is defined as earnings (loss) before income taxes, interest expense, and other expense or income, net.

Selected Fourth Quarter and Full Year 2026 Financial Results and Comparisons (in millions, except percentages and per share data)

Table 1, continued

Non-GAAP Financial Results (unaudited)(1)(2)

Q4 FY26

Q3 FY26

Q4 FY25

Q/Q

Y/Y

FY 2026

FY 2025

FY/FY

Revenues

$ 2,046

$ 1,806

$ 1,529

13.3 %

33.8 %

$ 7,118

$ 5,810

22.5 %

Gross Margin %

40.2 %

39.6 %

38.1 %

66 bps

215 bps

39.4 %

37.9 %

152 bps

R&D Expense %

10.2 %

9.9 %

9.8 %

30 bps

39 bps

9.7 %

9.5 %

20 bps

SG&A Expense %

8.2 %

9.4 %

10.3 %

(116 ) bps

(205 ) bps

9.2 %

10.5 %

(130 ) bps

Operating Expenses

$ 377

$ 348

$ 307

8.2 %

22.7 %

$ 1,350

$ 1,165

15.8 %

Operating Income

$ 446

$ 366

$ 275

21.8 %

62.1 %

$ 1,457

$ 1,037

40.5 %

Operating Margin

21.8 %

20.3 %

18.0 %

152 bps

381 bps

20.5 %

17.8 %

262 bps

Net Earnings Attributable to Coherent Corp.

$ 351

$ 276

$ 192

27.2 %

82.7 %

$ 1,097

$ 693

58.3 %

Diluted Earnings Per Share

$ 1.74

$ 1.41

$ 1.00

$ 0.33

$ 0.74

$ 5.61

$ 3.53

$ 2.08

(1)

During the second fiscal quarter of 2025, the Company refined its methodology to report non-GAAP measures. The change does not impact the Company’s financial position, cash flows, or GAAP consolidated results of operations. Prior period non-GAAP financial measures presented in this press release have been recast to conform to the current presentation.

(2)

The Company has disclosed financial measurements in this earnings release that present financial information that are considered to be non-GAAP financial measures. These measurements are not a substitute for GAAP measurements, although the Company’s management uses these measurements as an aid in monitoring the Company’s on-going financial performance. The non-GAAP net earnings attributable to Coherent Corp., the non-GAAP diluted earnings

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