CIEN FY 2023 Earnings Report — Ciena Corporation Revenue & Financial Results | Market Cap Arena

Ciena CorporationCIEN

FY 2023 Earnings

Reported December 15, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$4.4B	—	$3.6B	—	20.8%
Op. Income	$385M	—	$257M	—	49.6%
Gross Margin	39.9%	—	39.4%	—	0.5pp
Net Margin	5.8%	—	4.2%	—	1.6pp
EPS (Diluted)	$1.71	—	$1.00	—	71.0%
Free Cash Flow	$62M	—	-$259M	—	124.0%

Revenue Flow

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.7B
R&D Expenses	$658M
Selling & Marketing	$491M
General & Administrative	$215M
SG&A Expenses	$706M
Other Expenses	$0
Operating Expenses	$1.4B
Cost & Expenses	$4.0B
OPERATING INCOME	$385M
Interest Income	$45M
Interest Expense	$88M
Other Income/Expenses	-$61M
INCOME BEFORE TAX	$324M
Income Tax Expense	$69M
Net Income from Continuing Ops	$255M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$255M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$255M
D&A	$142M
EBIT	$412M
EBITDA	$554M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.7B
R&D Expenses	$658M
Selling & Marketing	$491M
General & Administrative	$215M
SG&A Expenses	$706M
Other Expenses	$0
Operating Expenses	$1.4B
Cost & Expenses	$4.0B
OPERATING INCOME	$385M
Interest Income	$45M
Interest Expense	$88M
Other Income/Expenses	-$61M
INCOME BEFORE TAX	$324M
Income Tax Expense	$69M
Net Income from Continuing Ops	$255M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$255M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$255M
D&A	$142M
EBIT	$412M
EBITDA	$554M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$255M
Depreciation & Amortization	$142M
Stock-Based Compensation	$130M
Deferred Income Tax	-$15M
Other Non-Cash Items	$52M
Change in Working Capital	-$397M
OPERATING CASH FLOW	$168M
Capital Expenditure	-$106M
Acquisitions (Net)	-$230M
Purchases of Investments	-$252M
Sales/Maturities of Investments	$208M
Other Investing Activities	-$3M
NET CASH FROM INVESTING	-$383M
Net Debt Issuance	$485M
Common Stock Repurchased	-$281M
Common Dividends Paid	$0
Other Financing Activities	-$6M
NET CASH FROM FINANCING	$229M
FREE CASH FLOW	$62M
Net Change in Cash	$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$105M
Net Receivables	$1.2B
Inventory	$1.1B
Other Current Assets	$42M
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$315M
Goodwill	$445M
Intangible Assets	$206M
Long-Term Investments	$134M
Tax Assets	$809M
Other Non-Current Assets	$116M
TOTAL NON-CURRENT ASSETS	$2.0B
TOTAL ASSETS	$5.6B
Account Payables	$318M
Short-Term Debt	$12M
Deferred Revenue	$154M
Other Current Liabilities	$222M
TOTAL CURRENT LIABILITIES	$932M
Long-Term Debt	$1.5B
Deferred Revenue NC	$74M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$122M
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$2.8B
Common Stock	$1M
Additional Paid-In Capital	$6.3B
Retained Earnings	-$3.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$38M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.8B
Minority Interest	$0
TOTAL EQUITY	$2.8B
TOTAL LIABILITIES & EQUITY	$5.6B
Total Debt	$1.7B
Net Debt	$647M