LITE

EX-99.1

2 lite_ex991xq1fy27.htm

EX-99.1

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NEWS RELEASE

LUMENTUM ANNOUNCES FIRST QUARTER OF FISCAL YEAR 2027 FINANCIAL RESULTS

•Net revenue of $1.26 billion

•GAAP gross margin of 51.0%; Non-GAAP gross margin of 53.2%

•GAAP operating margin of 28.5%; Non-GAAP operating margin of 42.3%

•Forecasting second quarter of fiscal year 2027 revenue of $1.575 billion to $1.625 billion; non-GAAP operating margin of 45.0% to 46.0%; and non-GAAP diluted net income per share of $5.90 to $6.20.

San Jose, Calif., November 2, 2026 – Lumentum Holdings Inc. (“Lumentum” or the “Company”) today reported results for its fiscal first quarter ended September 26, 2026.

“Lumentum built on its strong momentum in the first fiscal quarter of 2027, delivering growth across all our businesses, with pump lasers and optical circuit switches (OCS) being the leading contributors. During the quarter, we secured our second major NPO/CPO win, backed by purchase commitments exceeding $5 billion. Additionally, our OCS demand visibility has expanded significantly in recent months, positioning optical switching to become a multi-billion-dollar annual revenue stream. Finally, we continue to see strength in our cloud modules business which is showing improvement on the gross margin line,” said President and CEO Michael Hurlston.

"Looking ahead, we anticipate adding approximately $350 million in sequential growth in our second quarter, a figure greater than the quarterly revenue of the whole company just two years ago. Furthermore, we project our second quarter operating margin to exceed 45 percent.”

Fiscal First Quarter Highlights:

Net revenue for the first quarter of fiscal year 2027 was $1.26 billion, with GAAP net income of $360.3 million, or $3.54 per diluted share. Net revenue for the fourth quarter of fiscal year 2026 was $1.01 billion, with GAAP net loss of $7.2 billion, or $84.65 per diluted share. Net revenue for the first quarter of fiscal year 2026 was $533.8 million, with GAAP net income of $4.2 million, or $0.05 per diluted share.

Non-GAAP net income for the first quarter of fiscal year 2027 was $461.1 million, or $4.57 per diluted share. Non-GAAP net income for the fourth quarter of fiscal year 2026 was $326.3 million, or $3.23 per diluted share. Non-GAAP net income for the first quarter of fiscal year 2026 was $86.4 million, or $1.10 per diluted share.

The Company held $2.0 billion in total cash, cash equivalents, and short-term investments at the end of the first quarter of fiscal year 2027, a decrease of $758.8 million from the end of the fourth quarter of fiscal year 2026.

Financial Overview – Fiscal First Quarter Ended September 26, 2026

GAAP Results ($ in millions)

Q1Q4Q1Change

FY 2027FY 2026FY 2026Q/QY/Y

Net revenue$1,262.6 $1,006.3 $533.8 25.5%136.5%

GAAP gross margin51.0 %47.4 %34.0 %360 bps1,700 bps

GAAP operating margin28.5 %27.8 %1.3 %70 bps2,720 bps

Non-GAAP Results ($ in millions)

Q1Q4Q1Change

FY 2027FY 2026FY 2026Q/QY/Y

Net revenue$1,262.6 $1,006.3 $533.8 25.5%136.5%

Non-GAAP gross margin53.2 %50.4 %39.4 %280 bps1,380 bps

Non-GAAP operating margin42.3 %36.6 %18.7 %570 bps2,360 bps

Net Revenue by Product Type ($ in millions)

Q1% ofQ4Q1Change

FY 2027Net RevenueFY 2026FY 2026Q/QY/Y

Components$754.2 59.7 %$649.4 $379.2 16.1%98.9%

Systems508.4 40.3 %356.9 154.6 42.4%228.8%

Total$1,262.6 100.0 %$1,006.3 $533.8 25.5%136.5%

The tables above provide comparisons of quarterly results to prior periods, including sequential quarterly and year-over-year changes. A reconciliation between GAAP and non-GAAP measures is contained in this release under the section titled “Use of Non-GAAP Financial Measures.”

Business Outlook

Lumentum expects the following for the second quarter of fiscal year 2027:

•Net revenue in the range of $1.575 billion to $1.625 billion

•Non-GAAP operating margin of 45.0% to 46.0%

•Non-GAAP diluted earnings per share of $5.90 to $6.20

We have not provided reconciliations from GAAP to non-GAAP financial measures or the equivalent GAAP measure for non-GAAP financial measures in our outlook, as they cannot be provided without unreasonable effort. A large portion of non-GAAP adjustments, such as stock-based compensation and related payroll taxes, acquisition related costs, net, integration related costs, restructuring and related charges, foreign exchange losses (gains), net, non-GAAP income tax reconciling adjustments, and other non-GAAP adjustments are by their nature highly volatile and we have low visibility as to the range that may be incurred in the future.

About Lumentum

Lumentum (NASDAQ: LITE) is a global leader in optical and photonic technologies that power the networks and infrastructure behind AI, cloud computing, and next-generation communications. Built on decades of photonics innovation, Lumentum delivers high-performance lasers, modules, and optical subsystems that enable scalable, energy-efficient data center connectivity, advanced telecom networks, industri

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