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Lumentum Holdings Inc. (NASDAQ: LITE) is a leading manufacturer of innovative optical and photonic products, catering to both optical networking and commercial laser customers globally. Headquartered in Milpitas, California, with R&D, manufacturing, and sales offices worldwide, Lumentum is at the forefront of the technology sector.
Lumentum's business is divided into two key segments: Optical Communications (OpComms) and Commercial Lasers. The OpComms segment is responsible for the majority of the company's revenue, offering a wide array of components, modules, and subsystems that are essential for telecom, enterprise, and data center networks. These products support carrier networks for access, metro, long-haul, and submarine applications.
In the Commercial Lasers segment, Lumentum's innovative lasers are used in advanced manufacturing, inspection processes, and life-science labs. The company's commercial lasers are also pivotal in the development of next-generation 3D sensing capabilities, enhancing consumer electronics and various industrial applications.
Lumentum has recently been expanding into new optical applications, notably with its 3-D sensing laser diodes for consumer electronics. Its commitment to innovation and quality has positioned it as a market leader, providing critical technology that supports the infrastructure of modern communication and advanced manufacturing.
For more detailed information on Lumentum Holdings Inc. and the latest updates, visit their official website at www.lumentum.com.
Lumentum Holdings, a leading designer of optical and photonic products, has announced equity awards granted to its new President and CEO Michael Hurlston on February 7, 2025. The grants include:
- 103,684 restricted stock units (RSUs) vesting over three years
- Performance-based RSUs (PSUs) covering 11,520 shares (at target level) for FY2025-2027
- Performance Stock Units (rTSR PSUs) of 161,287 shares tied to total shareholder return versus the S&P 500 IT Index
The awards were granted under Lumentum's 2025 Inducement Equity Incentive Plan as part of Hurlston's employment agreement. The PSUs can pay out between 0% and 200% based on performance achievement. All grants are subject to continued employment and specific vesting conditions.
Lumentum (LITE) reported fiscal Q2 2025 results with net revenue of $402.2 million, exceeding guidance expectations. The company achieved a GAAP gross margin of 24.8% and non-GAAP gross margin of 32.3%. Despite a GAAP operating loss of 12.8%, the non-GAAP operating margin was positive at 7.9%.
Quarter highlights include a GAAP net loss of $0.88 per diluted share and non-GAAP net income of $0.42 per diluted share. The Cloud & Networking segment generated $339.2 million (84.3% of revenue), while Industrial Tech contributed $63.0 million (15.7%). The company maintains $896.7 million in cash and equivalents.
Looking forward, Lumentum projects Q3 2025 revenue between $410-425 million with non-GAAP operating margin of 9.5-10.5% and earnings per share of $0.47-0.53. The company remains confident in reaching its $500 million quarterly revenue target by end of 2025.
Lumentum Holdings has announced a significant leadership change, appointing Michael Hurlston as President and CEO effective February 7, succeeding Alan Lowe who has served since 2015. Hurlston brings over 30 years of senior leadership experience, joining from Synaptics where he served as President and CEO since 2019. He previously led Finisar and held various roles at Broadcom
The company also released preliminary fiscal second quarter 2025 results, expecting net revenue of approximately $402 million and non-GAAP diluted earnings per share between $0.40 to $0.42, exceeding their previous guidance of $380-400 million in revenue and $0.30-0.40 EPS. Lowe will continue to serve on Lumentum's Board of Directors and as an advisor to ensure a smooth transition.
Lumentum (LITE) has received approval from the Science-Based Targets initiative (SBTi) for its greenhouse gas emissions reduction targets. The company aims for near-term goals by 2030 including a 90% reduction in Scope 1 and 2 emissions and a 52% reduction per data capacity in Scope 3 emissions from cloud and networking products, compared to FY2022 baseline.
The plan also requires 30% of suppliers and 25% of customers to have their own science-based emissions targets by FY2028. For long-term goals by 2050, Lumentum commits to maintaining the 90% reduction in Scope 1 and 2 emissions and achieving a 90% reduction in absolute Scope 3 emissions. These targets align with limiting global warming to 1.5°C and meet the priorities of key customers, particularly cloud and AI infrastructure providers.
Lumentum Holdings announced it will release its fiscal second quarter 2025 financial results on February 6, 2025, after the market closes. A conference call will be held the same day at 2:00 p.m. PT/5:00 p.m. ET to discuss the results. The call will be available via a live webcast and replay in the Investors section of the Lumentum website.
To participate via telephone, dial (833) 470-1428 or (404) 975-4839 with Conference ID: 360050. Lumentum recommends dialing in 10 minutes before the scheduled start to avoid delays. Pre-registration is encouraged, and participants will receive a unique dial-in number and PIN via email for immediate access.
The earnings press release and additional materials supporting the conference call and earnings release will be posted on the Lumentum website under the 'Financial News Releases' and 'Events and Presentations' sections, respectively.
Lumentum's TrueFlex® Contentionless Twin 16x24 Wavelength Selective Switch (WSS) has won the 2024 Pipeline Innovation Award for Innovation in Network Technology, with additional runner-up honors in Network Transformation and Network Management categories. The innovative WSS is designed for modern CDC ROADM networks, offering enhanced scalability, superior signal quality, and cost-effective structure by eliminating the need for expensive erbium-doped fiber amplifier arrays.
Available in both 16x24 and 8x26 configurations, the solution optimizes performance for high-degree nodes and multi-rail applications. The award selection process involved evaluation by industry experts from major service providers including AT&T, Bell Canada, Colt, Deutsche Telekom, Lumen, and T-Mobile, alongside analysts from ACG Research, Analysys Mason, and Telecom Innovation Council.
Lumentum Holdings has announced its participation in four upcoming investor events in November and December 2024. The company will attend the Needham & Company Virtual Tech Week on November 19, the UBS Global Technology and AI Conference in Scottsdale on December 3, the Raymond James TMT & Consumer Conference in New York on December 9, and the Barclays Global Technology Conference in San Francisco on December 11. Each event includes management presentations at specified times, with webcast links provided for most events.
Lumentum (LITE) reported fiscal Q1 2025 results with net revenue of $336.9 million, up 9.3% quarter-over-quarter and 6.1% year-over-year. The company posted a GAAP net loss of $1.21 per share, while non-GAAP earnings were $0.18 per share. Cloud & Networking segment revenue grew 22.9% year-over-year to $282.3 million. The company set a new record for datacom laser chip orders and secured an additional hyperscale transceiver customer. For Q2 2025, Lumentum expects revenue between $380-400 million with non-GAAP earnings per share of $0.30-0.40.
Lumentum has released its Fiscal 2024 Corporate Sustainability Report, highlighting significant environmental and operational achievements. The company achieved a 38% reduction in Scope 1 and 2 greenhouse gas emissions compared to Fiscal 2023, while increasing renewable electricity procurement to 79%. Notable accomplishments include transitioning three additional sites to 100% renewable electricity, implementing solar power generation in Thailand and California, and expanding ISO 14001 and 45001 certifications to more manufacturing sites.
The report also showcases improvements in product innovation, including a 45% reduction in power consumption for their TrueFlex Twin WSS product and a 77% reduction in power consumption for 200G PAM4 externally modulated lasers. The company filed over 280 new patent applications and enhanced its employee development programs, engaging nearly 250 participants in mentorship initiatives.
Lumentum Holdings Inc. (LITE) has announced that it will release its fiscal first quarter 2025 financial results on Thursday, November 7, 2024, after the market closes. The company will hold a conference call the same day at 2:00 p.m. PT/5:00 p.m. ET. A live webcast and replay of the call will be available in the Investors section of Lumentum's website.
To participate via telephone, investors can dial (833) 470-1428 or (404) 975-4839 with the Conference ID: 013162. Lumentum recommends participants dial in at least 10 minutes before the scheduled start. Pre-registration is also available for immediate access to the call. The earnings press release and additional supporting materials will be posted on the company's investor relations website.
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