CIEN FY 2025 Earnings Report — Ciena Corporation Revenue & Financial Results | Market Cap Arena

Ciena CorporationCIEN

FY 2025 Earnings

Reported December 12, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$4.8B	—	$4.0B	—	18.8%
Op. Income	$311M	—	$191M	—	62.5%
Gross Margin	41.5%	—	39.8%	—	1.7pp
Net Margin	2.6%	—	2.1%	—	0.5pp
EPS (Diluted)	$0.85	—	$0.58	—	46.6%
Free Cash Flow	$665M	—	$378M	—	76.1%

Revenue Flow

Item	Amount
REVENUE	$4.8B
Cost of Revenue	$2.8B
GROSS PROFIT	$2.0B
R&D Expenses	$848M
Selling & Marketing	$581M
General & Administrative	$239M
SG&A Expenses	$820M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$4.5B
OPERATING INCOME	$311M
Interest Income	$55M
Interest Expense	$89M
Other Income/Expenses	-$155M
INCOME BEFORE TAX	$156M
Income Tax Expense	$33M
Net Income from Continuing Ops	$123M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$123M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$123M
D&A	$140M
EBIT	$247M
EBITDA	$387M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.8B
Cost of Revenue	$2.8B
GROSS PROFIT	$2.0B
R&D Expenses	$848M
Selling & Marketing	$581M
General & Administrative	$239M
SG&A Expenses	$820M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$4.5B
OPERATING INCOME	$311M
Interest Income	$55M
Interest Expense	$89M
Other Income/Expenses	-$155M
INCOME BEFORE TAX	$156M
Income Tax Expense	$33M
Net Income from Continuing Ops	$123M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$123M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$123M
D&A	$140M
EBIT	$247M
EBITDA	$387M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$123M
Depreciation & Amortization	$140M
Stock-Based Compensation	$185M
Deferred Income Tax	-$23M
Other Non-Cash Items	$161M
Change in Working Capital	$220M
OPERATING CASH FLOW	$806M
Capital Expenditure	-$141M
Acquisitions (Net)	-$231M
Purchases of Investments	-$214M
Sales/Maturities of Investments	$349M
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$241M
Net Debt Issuance	-$16M
Common Stock Repurchased	-$335M
Common Dividends Paid	$0
Other Financing Activities	-$91M
NET CASH FROM FINANCING	-$406M
FREE CASH FLOW	$665M
Net Change in Cash	$157M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$216M
Net Receivables	$976M
Inventory	$826M
Other Current Assets	$455M
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$39M
Goodwill	$521M
Intangible Assets	$224M
Long-Term Investments	$57M
Tax Assets	$885M
Other Non-Current Assets	$573M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$5.9B
Account Payables	$543M
Short-Term Debt	$12M
Deferred Revenue	$209M
Other Current Liabilities	$228M
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$1.5B
Deferred Revenue NC	$95M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$175M
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$3.1B
Common Stock	$1M
Additional Paid-In Capital	$6.0B
Retained Earnings	-$3.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$55M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.7B
Minority Interest	$0
TOTAL EQUITY	$2.7B
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$1.6B
Net Debt	$490M