Key Highlights

  • Sales in fiscal first quarter 2027 totaled $1,262.6 million, a 136.5% annual gain and a 25.5% sequential increase.
  • Profit on a GAAP basis reached $360.3 million, equal to $3.54 for each diluted share, after $4.2 million the year before.
  • Adjusted Net Income hit $461.1 million ($4.57 a diluted share), and the non-GAAP Operating Margin stood at 42.3%.
  • Systems sales climbed 228.8%, landing at $508.4 million, while components rose by 98.9%, arriving at $754.2 million.
  • The company anticipates second-quarter sales of $1.575 billion through $1.625 billion, with per-share non-GAAP profit between $5.90 and $6.20.

Laser Pumps and OCS Products Push Sales More Than Double the Prior Level

Lumentum (NASDAQ:LITE) published fiscal first quarter results on Nov 2, 2026, for the period ended Sep 26, 2026. Sales came to $1,262.6 million, a 136.5% gain on the $533.8 million of a year earlier, and a 25.5% increase over the $1,006.3 million of the previous quarter.

The firm builds lasers, modules and optical subsystems for Data Center links, telecom infrastructure, industrial Manufacturing and sensing. Leadership described broad expansion, led by pump lasers and OCS products, with cloud modules helping gross margin.

Systems made up $508.4 million, or 40.3% of the total, after a 228.8% rise; components reached $754.2 million.

Net Result Turns Positive as Margins Widen Sharply From the Prior Period

Profit under GAAP came to $360.3 million, which works out to $3.54 a diluted share, versus $4.2 million ($0.05 a share) one year prior. The quarter that closed Jun 27, 2026 recorded a $7.2 billion net loss, equal to $84.65 per share; the reconciliation traces it to $7,756.6 million of debt-extinguishment loss.

On a GAAP basis, gross margin improved to 51.0%, up from 34.0% in the earlier year, and the GAAP operating margin reached 28.5%, compared with 1.3%. The non-GAAP gross figure was 53.2% while non-GAAP operating margin was 42.3%, versus 39.4% and 18.7% previously. Adjusted net income of $461.1 million ($4.57 per diluted share) compared with $86.4 million ($1.10).

Adjusted EBITDA reached $578.0 million, up from $127.6 million. GAAP Operating Income was $359.8 million after $146.7 million of share-based pay and payroll taxes, with $89.4 million tied to modified Equity awards linked to executive retirements announced in the quarter.

A Second Major Near-Packaged Optics Win and a Clearer OCS Demand Outlook

Leadership stated that the company landed a second large contract tied to near-packaged and co-packaged optics, with purchase commitments above $5 billion behind it. Visibility into OCS orders has broadened considerably lately, which could make optical switching a Revenue line worth several billion dollars annually.

Research spending climbed to $191.8 million, up from $81.4 million; the filing ties a portion to ramping up the Greensboro, North Carolina plant. A $6.9 million gain came from selling a product line, with $12.3 million collected.

Liquid assets, namely cash, equivalents and near-term investments, reached $2.0 billion after a $758.8 million drop from the preceding quarter-end. Debt classified as current amounted to $1,360.3 million, while long-term debt was $39.3 million.

Second-Quarter Outlook Points to Around $350 Million in Added Sales

For the second quarter, the company projects sales between $1.575 billion and $1.625 billion, with the operating margin on a non-GAAP basis in a 45.0% to 46.0% range, and non-GAAP diluted EPS between $5.90 and $6.20. Leadership said the implied sequential rise is near $350 million, more than the full quarterly sales figure of two years earlier.

Listed risks include shifting product mix, lower typical selling prices, capacity build-outs, and changed customer orders. The Form 10-Q for the period ending Sep 26, 2026 had yet to be submitted, and second-quarter figures are the next milestone.