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21:00
Aug 11 ◎

LITE FY2026 Q4 Watch

Lumentum Holdings Inc. (LITE) FY2026 Q4 Earnings Call

LITE AXTI ▾

Michael Hurlston

Management's guidance is extremely bullish, with revenue hitting its $1.25B target a quarter early, driven by accelerating AI demand and a favorable product mix, indicating continued strong growth and margin expansion.

"Driven by sharp acceleration in AI revenue, the midpoint of our Q1 revenue guidance reaches our $1.25 billion target, more than one quarter ahead of schedule."

LITE WATCH

Michael Hurlston

Demand for high-power lasers for CPO/NPO has accelerated significantly, leaving Lumentum 'further behind' supply despite execution being on plan, and has driven them to secure additional substrate supply from AXTI. — This indicates that the industry's shift to CPO/NPO architectures is happening faster than expected, creating a supply bottleneck on critical laser chips and benefiting the upstream substrate suppliers like AXTI.

"we went out and we found additional substrate help from AXTI. They've been a great partner. Wupen's worked with them for a good number of years."

AXTI WATCH

HIGH

21:00
May 05 ◎

LITE FY2026 Q3 Watch

Lumentum Holdings Inc. (LITE) FY2026 Q3 Earnings Call

NVDA LITE COHR IIVI FLEX ▾

Wajid Ali

Nvidia made a direct equity investment in Lumentum, a strong endorsement of Lumentum's technology and a source of capital to fund expansion.

"During the third quarter, our cash and short-term investments increased by 2.02 billion to 3.17 billion dollars with the increase primarily driven by nvidia's direct investment in momentum"

NVDA WATCH

Michael Harlston

Management is highly bullish, guiding to another record quarter and reiterating its long-term $2B quarterly revenue target, driven by broad-based demand across all growth vectors.

"This gives us confidence that we are very much on track to reach our $2 billion quarterly revenue goal, as we articulated at our OFC event."

LITE WATCH

Michael Harlston

Even with massive internal expansion, Lumentum is undershipping demand for pump lasers, narrow linewidth lasers, and EMLs by more than 30% and having to allocate supply to customers. — Persistent industry-wide laser and component shortages signal pricing power and potential revenue upside for Lumentum's laser competitors and indicate the AI supply chain remains heavily constrained.

"The supply demand imbalance is probably even higher than we reported in our last call, somewhere greater than 30%."

COHR WATCH IIVI WATCH

Michael Harlston

Lumentum is shifting to contract manufacturing to improve margins, a strategic change from its historical insourcing approach. — Outsourcing production to EMS providers like Flex could signal a new source of demand for those companies and a margin tailwind for Lumentum.

"As we have started to shift, and we're early in those innings, back to a contract manufacturing base, we would actually expect to see improvement in our margins."

FLEX WATCH

Michael Harlston

Lumentum is experiencing a supply-demand imbalance in its own transceiver business that is 'appreciable' and likely over 30%, limiting its ability to meet customer demand despite a strong ramp in 1.6T shipments. — The significant shortage of transceivers, a critical AI infrastructure component, indicates the AI buildout demand is far outpacing supply, benefiting the broader ecosystem but keeping a lid on Lumentum's top-line growth.

"The supply-demand imbalance on our own transceivers was somewhere in that zip code, but it was definitely appreciable, although I don't know that we've calculated that."

MRVL WATCH

HIGH

22:00
Feb 03 ◎

LITE FY2026 Q2 Watch

Lumentum Holdings Inc. (LITE) FY2026 Q2 Earnings Call

LITE ▾

Michael Hurlston

Lumentum's management is extremely bullish, with demand far exceeding supply and a significant upside to revenue and margin expectations.

"We now expect to comfortably surpass that milestone next quarter. Our March revenue guidance, with an $805 million midpoint, represents an impressive 85 plus percent year-over-year increase."

LITE WATCH

HIGH

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