Lumentum Holdings Inc.
Lumentum Reports Q2 FY24 Financial Results with Net Loss and Revenue Decline
Summary
Lumentum Holdings Inc. reported its fiscal second-quarter 2024 financial results on February 8, 2024, showing a net loss of $99.1 million, a decrease from the previous quarter and year-over-year. The company reported net revenue of $366.8 million, a slight increase from the previous quarter but a significant decline from the year-over-year figure of $506.0 million. GAAP gross margin was 17.4%, and non-GAAP gross margin was 32.6%. GAAP operating loss was 28.7%, while non-GAAP operating margin was 3.5%. The company provided a business outlook for the third quarter, expecting net revenue between $350 million and $380 million and non-GAAP diluted earnings per share between $0.20 and $0.35.
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About Lumentum Holdings Inc.
Lumentum Holdings Inc. is a leading designer and manufacturer of optical and photonic products serving diverse sectors such as telecommunications, data communications, and industrial applications. The company's core offerings include cutting-edge components and modules like optical transceivers, amplifiers, and active components which facilitate the transmission of data over fiber optic networks. Additionally, Lumentum develops industrial lasers that are critical in material processing and precision manufacturing industries. Their advanced laser products are employed in various applications from semiconductor fabrication to automotive manufacturing. Established as a spin-off from JDS Uniphase Corporation in 2015, Lumentum has been instrumental in propelling the transition to high-speed data networks and supporting the backbone of modern communication infrastructures. Its innovations play a critical role in enhancing network efficiency, bandwidth, and overall optical performance, positioning the company as a vital player in the ongoing evolution of global telecommunications and industrial technologies.
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