Lumentum FY2026: revenue up 83.2% to $3.01 billion, GAAP loss is one-time
Lumentum ended fiscal 2026 with $3.01 billion of revenue, up 83.2%, and a GAAP loss of $6.94 billion that is almost entirely a one-time, non-cash charge for swapping convertible debt into stock. Strip out that charge and non-GAAP net income was $782.3 million, or $8.67 a share, and fourth-quarter non-GAAP EPS of $3.23 beat the $3.0312 consensus. Read every GAAP line in this report with the debt conversion in mind.
1 · Expected vs. Actual
Free preview belowGAAP shows a full-year loss of $92.96 per share and a fourth-quarter loss of $84.65 per share, but those figures reflect the $7.8 billion non-cash charge rather than the operating business. On the company's non-GAAP basis, full-year net income was $782.3 million, or $8.67 per share, and the fourth quarter produced $326.3 million, or $3.23 per share. That $3.23 landed about 6.6% above the $3.0312 consensus estimate.
Full-year revenue was $3.01 billion, up 83.2% from $1.65 billion a year earlier, and the fourth quarter alone brought in $1.01 billion — up 109.3% year over year and 24.5% quarter over quarter. Both product lines grew at a similar clip: Components reached $2.01 billion for the year (+79.7%) and Systems $1.01 billion (+90.7%). This is broad-based growth, not one large shipment landing in the quarter.
For the first quarter of fiscal 2027, Lumentum guided revenue to $1.225–$1.275 billion (midpoint $1.25 billion), non-GAAP operating margin of 39.5%–40.5%, and non-GAAP EPS of $4.05–$4.35. The revenue midpoint implies roughly 24.2% sequential growth, and the $4.20 EPS midpoint would be about 30.0% above the $3.23 just reported. Last quarter the company guided to a $985 million midpoint and delivered $1,006.3 million, a 2.2% beat.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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