The company said net revenue for the 3 months ended September 28, 2024 rose $19.3 million (6.1%) from a year earlier. Cloud & Networking revenue increased by $52.6 million, while Industrial Tech revenue decreased by $33.3 million.

10-QQuarterly reportFiled Nov 8, 2024Period of report Sep 28, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said net revenue for the 3 months ended September 28, 2024 rose $19.3 million (6.1%) from a year earlier. Cloud & Networking revenue increased by $52.6 million, while Industrial Tech revenue decreased by $33.3 million.
Lumentum said gross margin for the 3 months ended September 28, 2024 fell to 23.1% from 24.1% a year earlier. The company attributed about 2% of the negative impact to a less profitable product mix and about 4% to lower factory utilization.
The company said operating cash flow for the 3 months ended September 28, 2024 was $39.6 million. The net loss of $82.4 million was adjusted by non-cash items of $112.1 million and changes in operating assets and liabilities of $9.9 million.
The company said cash and cash equivalents increased by $52.5 million, from $436.7 million as of June 29, 2024 to $489.2 million as of September 28, 2024. Financing cash flow for the 3 months included $60.0 million, which includes $76.5 million of loans from SMBC and Mizuho.

Key figures

Quarter ended September 28, 2024

Revenue: $337M
Operating income: −$82M
Net income: −$82M
EPS: −$1.21
Gross profit: $78M
Operating cash flow: $40M

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.

Net Revenue Rises; Segment Performance Mixed

The company said net revenue for the 3 months ended September 28, 2024 rose $19.3 million (6.1%) from a year earlier. Cloud & Networking revenue increased by $52.6 million, while Industrial Tech revenue decreased by $33.3 million.

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

Gross Margin Declines; Company Cites Mix and Utilization

Lumentum said gross margin for the 3 months ended September 28, 2024 fell to 23.1% from 24.1% a year earlier. The company attributed about 2% of the negative impact to a less profitable product mix and about 4% to lower factory utilization.

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

Components of Operating Cash Flow for 3 Months

The company said operating cash flow for the 3 months ended September 28, 2024 was $39.6 million. The net loss of $82.4 million was adjusted by non-cash items of $112.1 million and changes in operating assets and liabilities of $9.9 million.

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

Ending Cash Balance and Borrowings

The company said cash and cash equivalents increased by $52.5 million, from $436.7 million as of June 29, 2024 to $489.2 million as of September 28, 2024. Financing cash flow for the 3 months included $60.0 million, which includes $76.5 million of loans from SMBC and Mizuho.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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