Lumentum Q1 revenue reaches $1.26bn as AI demand grows
Key points
- Lumentum reported fiscal Q1 2027 revenue of $1.26 billion, compared with $533.8 million a year earlier, while GAAP net income reached $360.3 million.
- Non-GAAP net income increased to $461.1 million, or $4.57 per diluted share, with non-GAAP operating margin reaching 42.3%.
- Lumentum forecasts second-quarter revenue of $1.575 billion–$1.625 billion, supported by demand for optical circuit switches, laser technology and AI data centre connectivity.
Lumentum Holdings (NASDAQ:LITE) reported fiscal first-quarter 2027 revenue of $1.26 billion, with GAAP net income of $360.3 million, as demand for optical technologies used in AI data centres supported business growth.
Revenue more than doubled from $533.8 million in the same quarter last year, while GAAP diluted earnings per share increased to $3.54 from $0.05, compared with a $7.2 billion net loss in the previous quarter.
GAAP gross margin reached 51%, while non-GAAP gross margin was 53.2%; GAAP operating margin stood at 28.5%, compared with a non-GAAP operating margin of 42.3%, and non-GAAP net income totalled $461.1 million.
Lumentum expects second-quarter fiscal 2027 revenue of $1.575 billion–$1.625 billion, non-GAAP operating margin of 45%–46% and non-GAAP diluted EPS of $5.90–$6.2.
The company reported more than $5 billion in purchase commitments associated with its second major near-packaged optics and co-packaged optics customer win, while its optical circuit switching demand visibility has increased.
Lumentum ended the quarter with $2 billion in cash, cash equivalents and short-term investments, while continuing to develop optical components, laser systems and switching technologies for cloud computing, telecommunications and AI infrastructure.
