LITE

MKT CAP:$63B

Lumentum Holdings Inc.

Market Cap

$63B

Technology·Communication Equipment·🇺🇸 United States·NASDAQ

Technology·Communication·🇺🇸·NASDAQ

Stock Price

$852.73+$466.62 (+120.85%)

Apr 24, 2026

Company Details

Lumentum Holdings Inc. manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates in two segments, Optical Communications (OpComms) and Commercial Lasers...

CEO

Michael E. Hurlston

IPO Date

Jul 23, 2015

Website

www.lumentum.com

Key Metrics TTM

Revenue

$2.1B

+54.2% YoY

Net Income

$252M

EPS (Diluted)

$3.26

Free Cash Flow

$130M

Revenue / Share

$23.98

Gross Margin

33.4%

Operating Margin

1.2%

Net Margin

12.0%

FCF Margin

6.2%

P/S

30.0x

P/E

251.2x

Earnings Reports

Q3 2026

May 5, 2026

PENDING

Q2 2026

Feb 3, 2026

$666M+65.5%EPS $0.89

Q1 2026

Nov 4, 2025

$534M+58.4%EPS $0.05

FY 2025

Aug 19, 2025

$1.6B+21.0%EPS $0.37

Q4 2025

Aug 19, 2025

$481M+55.9%EPS $2.96

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$448M	$227M	$115M
Q2 22	$447M	$208M	$85M
Q3 22	$395M	$167M	$47M
Q4 22	$422M	$182M	$55M
Q1 23	$507M	$192M	$24M
Q2 23	$506M	$143M	-$18M
Q3 23	$383M	$112M	-$51M
Q4 23	$371M	$90M	-$56M
Q1 24	$318M	$77M	-$81M
Q4 24	$308M	$51M	-$133M
Q1 25	$337M	$78M	-$82M
Q2 25	$402M	$100M	-$52M
Q3 25	$425M	$123M	-$38M
Q4 25	$481M	$160M	-$8M
Q1 26	$534M	$182M	$7M
Q2 26	$666M	$240M	$64M

Valuation

Quarter	P/S	P/E
Q1 22	3.4x	14.4x
Q2 22	4.5x	19.7x
Q3 22	3.9x	35.4x
Q4 22	3.3x	28.5x
Q1 23	2.7x	41.4x
Q2 23	2.1x	135.5x
Q3 23	2.0x	—
Q4 23	2.2x	—
Q1 24	1.9x	—
Q4 24	2.5x	—
Q1 25	3.3x	—
Q2 25	4.3x	—
Q3 25	2.9x	—
Q4 25	4.0x	255.5x
Q1 26	6.1x	100.6x
Q2 26	12.4x	104.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$62M	$44M
Q2 22	$207M	$180M
Q3 22	$77M	$58M
Q4 22	$114M	$86M
Q1 23	$21M	-$2M
Q2 23	$95M	$55M
Q3 23	$15M	-$15M
Q4 23	$49M	$13M
Q1 24	-$2M	-$63M
Q4 24	$36M	$11M
Q1 25	$40M	-$35M
Q2 25	$24M	-$16M
Q3 25	-$2M	-$64M
Q4 25	$64M	$10M
Q1 26	$58M	-$18M
Q2 26	$127M	$203M

Capital Expenditures

Quarter	CapEx
Q1 22	$18M
Q2 22	$26M
Q3 22	$19M
Q4 22	$29M
Q1 23	$23M
Q2 23	$40M
Q3 23	$29M
Q4 23	$36M
Q1 24	$61M
Q4 24	$25M
Q1 25	$74M
Q2 25	$40M
Q3 25	$63M
Q4 25	$54M
Q1 26	$76M
Q2 26	$76M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-0.9%	-5.6%
Q2 22	-6.7%	-0.6%
Q3 22	-5.7%	-2.3%
Q4 22	+7.7%	+4.8%
Q1 23	+13.0%	+44.7%
Q2 23	+13.3%	+45.1%
Q3 23	-3.0%	+24.7%
Q4 23	-12.2%	+16.4%
Q1 24	-37.3%	-17.4%
Q4 24	-39.1%	-15.8%
Q1 25	-12.1%	-3.6%
Q2 25	+8.5%	+6.4%
Q3 25	+33.9%	+16.2%
Q4 25	+55.9%	+10.7%
Q1 26	+58.4%	+25.7%
Q2 26	+65.5%	+32.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$25M	5.5%
Q2 22	$27M	6.1%
Q3 22	$23M	5.9%
Q4 22	$28M	6.6%
Q1 23	$47M	9.2%
Q2 23	$37M	7.2%
Q3 23	$33M	8.6%
Q4 23	$32M	8.7%
Q1 24	$32M	10.1%
Q4 24	$31M	9.9%
Q1 25	$36M	10.6%
Q2 25	$39M	9.6%
Q3 25	$63M	14.8%
Q4 25	$40M	8.3%
Q1 26	$42M	7.9%
Q2 26	$45M	6.8%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$54M	$58M
Q2 22	$53M	$69M
Q3 22	$57M	$64M
Q4 22	$57M	$70M
Q1 23	$73M	$95M
Q2 23	$76M	$86M
Q3 23	$85M	$76M
Q4 23	$74M	$68M
Q1 24	$74M	$73M
Q4 24	$73M	$75M
Q1 25	$74M	$76M
Q2 25	$74M	$76M
Q3 25	$76M	$112M
Q4 25	$80M	$84M
Q1 26	$81M	$85M
Q2 26	$80M	$96M

Revenue Segments

Quarter	Components	Systems
Q1 26	$379M	$155M
Q2 26	$444M	$222M

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea
Q1 25	$102M	$204M	$31M
Q2 25	$119M	$242M	$41M
Q3 25	$116M	$267M	$42M
Q4 25	$144M	$287M	$50M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$1.1B	$1.4B	$2.6B
Q4 22	$1.3B	$1.3B	$2.5B
Q1 23	$605M	$1.0B	$1.6B
Q2 23	$592M	$1.1B	$1.7B
Q3 23	$549M	$1.1B	$1.7B
Q4 23	$859M	$1.2B	$2.0B
Q1 24	$862M	$1.1B	$1.9B
Q2 24	$469M	$755M	$1.2B
Q3 24	$425M	$446M	$871M
Q4 24	$437M	$450M	$887M
Q1 25	$489M	$427M	$916M
Q2 25	$480M	$417M	$897M
Q3 25	$516M	$350M	$867M
Q4 25	$521M	$356M	$877M
Q1 26	$773M	$349M	$1.1B
Q2 26	$658M	$498M	$1.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	75M	-2.7%	-3.6%
Q2 22	75M	-0.1%	-4.0%
Q3 22	75M	-1.1%	-5.9%
Q4 22	72M	-4.0%	-7.7%
Q1 23	68M	-4.8%	-9.7%
Q2 23	68M	+0.3%	-9.3%
Q3 23	69M	+0.4%	-7.9%
Q4 23	68M	-0.4%	-4.5%
Q1 24	67M	-2.3%	-2.1%
Q4 24	68M	+1.6%	-0.7%
Q1 25	68M	+0.7%	-0.4%
Q2 25	69M	+0.9%	+0.9%
Q3 25	69M	+0.6%	+3.9%
Q4 25	72M	+3.9%	+6.2%
Q1 26	78M	+8.8%	+14.6%
Q2 26	88M	+12.1%	+27.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$79.8K	6K
Q2 22	$79.5K	6K
Q3 22	$70.4K	6K
Q4 22	$75.1K	6K
Q1 23	$74.4K	7K
Q2 23	$74.2K	7K
Q3 23	$56.3K	7K
Q4 23	$54.4K	7K
Q1 24	$42.3K	8K
Q4 24	$42.5K	7K
Q1 25	$46.4K	7K
Q2 25	$55.4K	7K
Q3 25	$58.6K	7K
Q4 25	$45.5K	11K
Q1 26	$50.5K	11K
Q2 26	$63.0K	11K

Revenue / Employee