Coherent said revenue for September 30, 2024 rose 28% to $1,348 million from $1,053 million a year earlier, and communications market revenue increased $315 million (68%). The company cited AI datacenter demand as the driver of the datacom increase.

10-QQuarterly reportFiled Nov 6, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Coherent said revenue for September 30, 2024 rose 28% to $1,348 million from $1,053 million a year earlier, and communications market revenue increased $315 million (68%). The company cited AI datacenter demand as the driver of the datacom increase.
Coherent said gross margin for the quarter was $460 million, or 34% of revenue, compared with $307 million, or 29%, a year earlier, an increase of 500 basis points. The company attributed the improvement to higher revenue, favorable mix and yield gains.
The company said operating cash flow for the quarter was $153 million, compared with $199 million in the same period last year, and cited higher accounts receivable and inventories tied to higher revenue as the factors. It also repaid $117 million on the Term Facilities, including voluntary payments of $100 million.
Coherent said restructuring plan charges for the quarter were $24 million, mainly consisting of impairment losses related to the sale of its Newton Aycliffe business. The company said that as of September 30, 2024, $757 million of its $763 million in restricted cash was restricted for use only by Silicon Carbide LLC.

Key figures

Quarter ended September 30, 2024

Revenue: $1.3B
Net income: $26M
EPS: −$0.04
Operating cash flow: $153M

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 the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly Revenue Rises 28%, Communications Market Revenue Up $315 million

Coherent said revenue for September 30, 2024 rose 28% to $1,348 million from $1,053 million a year earlier, and communications market revenue increased $315 million (68%). The company cited AI datacenter demand as the driver of the datacom increase.

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

Gross margin up 34%, 500 basis points

Coherent said gross margin for the quarter was $460 million, or 34% of revenue, compared with $307 million, or 29%, a year earlier, an increase of 500 basis points. The company attributed the improvement to higher revenue, favorable mix and yield gains.

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

Operating Cash Flow $153 million, Debt Repayments in Quarter $117 million

The company said operating cash flow for the quarter was $153 million, compared with $199 million in the same period last year, and cited higher accounts receivable and inventories tied to higher revenue as the factors. It also repaid $117 million on the Term Facilities, including voluntary payments of $100 million.

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

Quarterly Restructuring Plan Charges $24 million, Restricted Cash at Joint Venture Subsidiary

Coherent said restructuring plan charges for the quarter were $24 million, mainly consisting of impairment losses related to the sale of its Newton Aycliffe business. The company said that as of September 30, 2024, $757 million of its $763 million in restricted cash was restricted for use only by Silicon Carbide LLC.

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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