Ciena said fiscal 2025 revenue increased 19% to $4.8 billion, compared with $4.0 billion in fiscal 2024, and backlog including both products and services grew to $5.0 billion from $2.1 billion at the end of fiscal 2024.

10-KAnnual reportFiled Dec 12, 2025Period of report Nov 1, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Ciena said fiscal 2025 revenue increased 19% to $4.8 billion, compared with $4.0 billion in fiscal 2024, and backlog including both products and services grew to $5.0 billion from $2.1 billion at the end of fiscal 2024.
The company said gross margin in fiscal 2025 decreased to 42.0% from 42.8%, services gross margin fell 350 basis points to 45.8% from 49.3%, and product gross margin was unchanged.
Ciena said cash provided by operating activities in fiscal 2025 was $806.1 million, compared with $514.5 million in fiscal 2024, and it invested $140.8 million in capital expenditures, $231.1 million for the acquisition of Nubis, and $334.5 million on its share buyback program.
The company said it acquired Nubis, a provider of high-performance optical interconnects for AI workloads, during the fourth quarter of fiscal 2025, and in the same quarter began implementing a plan to reduce its global workforce by 4% to 5% and cease forward investment in certain broadband development initiatives, including 25G PON.

Key figures

Fiscal year ended November 1, 2025

Revenue: $4.8B
Operating income: $198M
Net income: $123M
EPS: $0.85
Gross profit: $2.0B
Operating cash flow: $806M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Annual revenue $4.8 billion, backlog $5.0 billion

Ciena said fiscal 2025 revenue increased 19% to $4.8 billion, compared with $4.0 billion in fiscal 2024, and backlog including both products and services grew to $5.0 billion from $2.1 billion at the end of fiscal 2024.

Source · Based on the MD&A text of the filing

Gross margin 42.0%, services gross margin 45.8%

The company said gross margin in fiscal 2025 decreased to 42.0% from 42.8%, services gross margin fell 350 basis points to 45.8% from 49.3%, and product gross margin was unchanged.

Source · Based on the MD&A text of the filing

Operating cash flow $806.1 million and major uses of cash

Ciena said cash provided by operating activities in fiscal 2025 was $806.1 million, compared with $514.5 million in fiscal 2024, and it invested $140.8 million in capital expenditures, $231.1 million for the acquisition of Nubis, and $334.5 million on its share buyback program.

Source · Based on the MD&A text of the filing

Nubis acquisition and workforce reduction plan

The company said it acquired Nubis, a provider of high-performance optical interconnects for AI workloads, during the fourth quarter of fiscal 2025, and in the same quarter began implementing a plan to reduce its global workforce by 4% to 5% and cease forward investment in certain broadband development initiatives, including 25G PON.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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