Welcome to our dedicated page for Infinera Corporation news (Ticker: INFN), a resource for investors and traders seeking the latest updates and insights on Infinera Corporation stock.
Infinera Corporation, trading under the symbol INFN, is a leading global supplier of innovative open optical networking solutions. The company was established with the vision of creating an infinite pool of intelligent bandwidth, central to the future of communication infrastructure. Infinera empowers network operators, including service providers, cloud operators, governments, and enterprises, to scale network bandwidth, drive service innovation, and automate optical network operations.
Infinera’s extensive portfolio comprises networking equipment, software, and services. Their offerings include optical transport platforms, converged packet-optical transport platforms, compact modular platforms, optical line systems, coherent optical subsystems, a suite of automation software offerings, and professional and support services. This comprehensive portfolio meets the diverse needs of fixed line and mobile network operators, telecommunications service providers, internet content providers, cable providers, wholesale carriers, research and education institutions, large enterprises, utilities, and government entities globally.
The company’s Intelligent Transport Networks play a crucial role in enabling network operators to respond to the rapid increase in bandwidth demand driven by cloud-based services and data center connectivity. For instance, Infinera’s ICE-X solution leverages digital subcarrier technology to transmit up to 200 Gb/s per wavelength on a single fiber, enhancing the service capacity significantly. This technology has been instrumental in partnerships with operators like Aire Networks to deliver high-quality services efficiently.
Recent achievements include collaborations with major players like APFutura and Aire Networks, where Infinera’s advanced technology, such as ICE-X, has demonstrated substantial improvement in network efficiency and capacity. Furthermore, the deployment of the GX Series and ICE7 technologies in simulated networks like Telstra InfraCo’s intercity network displays Infinera’s capability to increase data transmission rates and overall network capacity by integrating cutting-edge fiber optics.
Financially, Infinera has shown consistent growth. The company reported a GAAP revenue of $453.5 million in the recent quarter, reflecting a continuous upward trend from the previous quarters and years. Despite challenges such as supply chain issues and competitive market pressures, Infinera maintains a robust financial position with substantial developments in their product offerings and market reach. The company also announced positive financial outlooks and continued investor confidence, positioning itself for strong future demand cycles.
Infinera’s commitment to innovation extends to its partnerships, like the recent deployment of advanced networking solutions with Paratus Group, showcasing their ability to enhance connectivity and infrastructure resilience across regions.
For more detailed updates and insights on Infinera Corporation’s performance, projects, and financial health, investors and stakeholders can explore further at www.infinera.com.
Infinera (Nasdaq: INFN) has expanded its partnership with Japan's APRESIA Systems to integrate its innovative ICE-X coherent pluggables into APRESIA’s network solutions portfolio. This development aims to enhance APRESIA's locally manufactured Layer 2/3 switching and optical transmission products. With the ICE-X pluggables, APRESIA targets high-speed point-to-point and 100G bidirectional transport applications, offering significant CapEx and OpEx reductions, and improved network efficiency. APRESIA will leverage these technologies to address increased demand for capacity at network edges, aiming to improve operational value and deliver new revenue-generating services. Both companies will present their solutions at the JANOG 54 industry conference in Nara, Japan, on July 3-4, 2024.
Infinera (Nasdaq: INFN), along with DZS and Calnex, announced a successful multi-vendor demonstration of 5G mobile broadband xHaul with coherent open XR optics point-to-multipoint optical transmission. Conducted at the European Open Test & Integration Center in Torino, hosted by TIM, the testing aimed to simplify and reduce the costs of 5G network rollouts by minimizing the number of optical transceivers required, thus offering significant total cost of ownership savings. The demo included fronthaul, midhaul, and backhaul transport scenarios, showcasing successful xHaul synchronization and timing distribution in a point-to-multipoint architecture. This testing, supported by the EU project ALLEGRO, underscores the potential of XR optics innovation in transforming 5G and paving the way for future 6G networks.
Infinera (Nasdaq: INFN) announced that Digicel has deployed its GX Series, including ICE6 800G and FlexILS solutions, for the Deep Blue One subsea cable system. This subsea cable, spanning 2,100 kilometers, connects French Guiana, Suriname, Guyana, and Trinidad and Tobago, enhancing connectivity in the southern Caribbean. It links to Southern Caribbean Fiber’s existing subsea cable, which covers 3,000 kilometers and connects 16 islands from Trinidad and Tobago to Puerto Rico, with further connections to Miami and New York. The deployment aims to minimize cost per bit, energy cost per megabit, and carbon footprint while maximizing spectral efficiency and fiber capacity. Valery Bijou, CEO of Southern Caribbean Fiber, highlighted the importance of this new connectivity for customers and the oil and gas industry. Nick Walden, Infinera's Senior VP of Worldwide Sales, expressed satisfaction with the partnership and its role in enhancing connectivity in the Latin America and Caribbean region.
On May 21, 2024, Infinera (NASDAQ: INFN) announced it received a delinquency notification from Nasdaq on May 15, 2024, for failing to timely file its Quarterly Report on Form 10-Q for Q1 2024. This follows an earlier notice regarding its late Annual Report on Form 10-K for FY 2023, which has since been filed. Nasdaq requires Infinera to update its compliance plan by May 31, 2024, to regain compliance by September 11, 2024. Infinera is working to complete the Form 10-Q and submit its updated compliance plan promptly.
Infinera (NASDAQ: INFN) announced that it will participate in the J.P. Morgan 2024 Global Technology, Media and Communications Conference on May 22, 2024.
The presentation will be delivered by Nancy Erba, CFO, at 8:40am EDT / 5:40am PDT.
The event will be webcast live, and interested parties can access it through the Infinera investor relations website under the 'Events' section.
Contact information for media and investors is provided for further inquiries.
Infinera (Nasdaq: INFN) has appointed Regan MacPherson as Chief Legal Officer and Corporate Secretary, effective May 18. MacPherson will oversee the company's global legal strategy and corporate governance, reporting to CEO David Heard. She succeeds David Teichmann, who will remain in an advisory role for a smooth transition. MacPherson brings over 20 years of corporate legal experience from SunPower , Quantum , Marvell Semiconductor, and Seagate Technology. CEO David Heard highlighted her extensive legal expertise as Infinera looks to accelerate growth and innovation in optical networking.
Infinera announced the successful completion of desktop simulated network evaluations using Telstra InfraCo’s optical fibre. The evaluations were performed on two simulated intercity links: 1,240 km between Melbourne and Sydney, and 3,937 km between Perth and Sydney. The trials achieved new benchmarks in fibre capacity with 83.6 Tbps and 57.6 Tbps, respectively.
The tests utilized Infinera’s GX Series Compact Modular Platform featuring their latest ICE7 coherent optical technology, and Super C- + Super L-enabled optical line system, alongside Corning’s SMF-28® ULL fibre.
The results showcased a 53% increase in capacity over existing systems, indicating a significant improvement in network efficiency. These advancements aim to enhance Telstra InfraCo’s national fibre network, benefiting hyper scalers, service providers, and government entities by improving speed and capacity.
Infinera (Nasdaq: INFN) announced that Super Sistem Group has selected its GX Series and ICE6 800G coherent solution for the Super Sistem Batam Singapore (SSBS) Cable System. This subsea fiber optic cable aims to enhance connectivity between Batam and Singapore and is part of a broader initiative to expand broadband access to underserved communities in Indonesia. The deployment will connect Batam, Jakarta, and Manado with seven landing stations across 4,700 kilometers. Infinera's ICE6 solution is expected to maximize spectral efficiency, fiber capacity, and reliability. The initiative supports Indonesia's economic development by improving affordable connectivity, particularly in remote regions.
Infinera released its preliminary financial results for Q1 2024, reporting GAAP revenue of $306.9 million, down from $453.5 million in Q4 2023 and $392.1 million in Q1 2023. GAAP gross margin was 36.0%, and the GAAP operating margin was (14.0)%. The company reported a GAAP net loss of $(61.4) million or $(0.27) per diluted share. Non-GAAP net loss was $(38.3) million or $(0.17) per diluted share. Operating cash flow was $24.0 million and free cash flow was $16.0 million. The financial outlook for Q2 2024 includes expected revenue of $330 million +/- $20 million and a GAAP net loss per share of $(0.21) +/- $0.04. Despite the challenging quarter, Infinera saw positive momentum with significant customer wins and the launch of new products.
Infinera (NASDAQ: INFN) will announce its preliminary financial results for Q1 of fiscal 2024, which ended on March 30, 2024, on May 14, 2024, after market close. The announcement will be followed by a conference call at 5:00 p.m. ET to discuss the results and the company's outlook for Q2. The call will be accessible live and on an archived basis. Investors and interested parties can join the call by registering online or dialing in. The replay will be available approximately two hours after the live call on Infinera's investor relations website.
FAQ
What is the current stock price of Infinera Corporation (INFN)?
What is the market cap of Infinera Corporation (INFN)?
What does Infinera Corporation do?
Who are Infinera's primary customers?
What is the significance of Infinera's ICE-X technology?
How has Infinera performed financially recently?
What recent projects has Infinera been involved in?
What are Infinera’s core products?
How does Infinera support cloud-based services?
What are Infinera’s future financial expectations?
How does Infinera ensure network reliability?
Where can I find more information about Infinera Corporation?
