LITE 10-Q report for 2026-03-28

Lumentum Holdings Inc. (LITE) filed its Form 10‑Q for the quarter ended March 28, 2026. The filing includes unaudited condensed consolidated financial statements showing substantial revenue and cash increases year-over-year, a strengthened balance sheet with higher cash and short-term investments, issuance of Series A Convertible Preferred Stock and 2032 notes, and detailed cash flow and equity activity.

LITE 10-Q report for 2026-03-28 lite-20260328 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 28, 2026 Commission File Number 001-36861 Lumentum Holdings Inc. (Exact name of Registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 47-3108385 (I.R.S. Employer Identification Number) 1001 Ridder Park Drive, San Jose, California 95131 (Address of principal executive offices including Zip code) (408) 546-5483 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class: Common Stock, par value of $0.001 per share Trading Symbol(s): LITE Name of each exchange on which registered: Nasdaq Global Select Market Filing confirmations: - Registrant reported it has filed all required reports under Section 13 or 15(d) during the preceding 12 months and was subject to such filing requirements for the past 90 days. - Registrant indicated it submitted required Interactive Data Files under Rule 405 of Regulation S-T. - Registrant classified as a large accelerated filer. As of April 30, 2026, the Registrant had 77.8 million shares of common stock outstanding. Table of Contents highlights (selected): PART I - FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited): - Condensed Consolidated Statements of Operations for the Three and Nine Months Ended March 28, 2026 and March 29, 2025 - Condensed Consolidated Statements of Comprehensive Income (Loss) - Condensed Consolidated Balance Sheets as of March 28, 2026 and June 28, 2025 - Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 28, 2026 and March 29, 2025 - Condensed Consolidated Statements of Stockholders’ Equity - Notes to Condensed Consolidated Financial Statements Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations Item 3. Quantitative and Qualitative Disclosures About Market Risk Item 4. Controls and Procedures PART II - OTHER INFORMATION Item 1. Legal Proceedings Item 1A. Risk Factors Item 5. Other Information Item 6. Exhibits Selected financials (unaudited, in millions, except per share data): Three months ended March 28, 2026 vs. March 29, 2025 - Net revenue: $808.4 vs. $425.2 - Gross profit: $357.0 vs. $122.5 - Income (loss) from operations: $174.5 vs. ($37.7) - Net income (loss): $144.2 vs. ($44.1) - Net income available to common shareholders: $142.5 vs. ($44.1) - Basic net income (loss) per common share: $1.99 vs. ($0.64) - Diluted net income (loss) per common share: $1.50 vs. ($0.64) Nine months ended March 28, 2026 vs. March 29, 2025 - Net revenue: $2,007.7 vs. $1,164.3 - Gross profit: $778.6 vs. $300.0 - Income (loss) from operations: $245.5 vs. ($171.7) - Net income (loss): $226.6 vs. ($187.4) - Net income available to common shareholders: $225.7 vs. ($187.4) - Basic net income (loss) per common share: $3.18 vs. ($2.72) - Diluted net income (loss) per common share: $2.59 vs. ($2.72) Balance sheet highlights (March 28, 2026 vs. June 28, 2025): - Cash and cash equivalents: $2,617.8 vs. $520.7 - Short-term investments: $554.5 vs. $356.4 - Accounts receivable, net: $441.6 vs. $250.0 - Inventories: $632.8 vs. $470.1 - Total assets: $7,027.9 vs. $4,218.7 - Total current liabilities: $3,865.3 vs. $392.8 (includes current portion of long-term debt of $3,238.6) - Total liabilities: $4,054.5 vs. $3,084.0 - Total stockholders’ equity: $2,973.4 vs. $1,134.7 Cash flow highlights (Nine Months Ended): - Net cash provided by operating activities: $388.4 vs. $62.3 - Net cash used in investing activities: ($481.1) vs. ($24.7) - Net cash provided by financing activities: $2,189.8 vs. $42.1 - Increase in cash and cash equivalents: $2,097.1 vs. $79.7 Notable non-operating and capital transactions disclosed: - Proceeds from issuance of Series A Convertible Preferred Stock: $1,999.7 (net) - Proceeds from issuance of 2032 Notes, net of issuance costs: $1,254.7 - Payment for partial repurchase of 2026 Notes: ($843.1) - Payments for capped call options related to 2032 Notes: ($102.0) Additional notes and disclosures: - The filing includes detailed notes, stock-based compensation, intangible amortization, depreciation, restructuring charges, gains/losses on asset sales, and tax provisions. - The MD&A, risk factors, legal proceedings and exhibits are listed in the table of contents and should be reviewed for context, forward-looking considerations and potential liabilities. Actionability / trading relevance: - The filing presents materially improved revenue, profitability and cash position versus the prior year periods and significant financing transactions that reshaped the company’s capital structure (Series A preferred issuance and 2032 notes issuance with capped-call related activity). - However, the 10‑Q must be read in full — including notes and MD&A — to understand the drivers of the performance, one-time items (escrow settlement, gain/loss on asset sales, debt repurchases), and ongoing risks. Use the full filing to validate assumptions before taking directional trading positions.

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