Lumentum (LITE)

Lumentum (LITE) designs and manufactures the externally-modulated lasers and transceivers that go into cloud and AI data-center networking. In ETFpedia it represents the Optical Networking & Photonics concept, because AI demand drove its revenue up about 90% in the March 2026 quarter, and management says it is undershipping that demand by more than 30%.

TickerLITE
ExchangeNASDAQ
SectorTechnology · Optical Components
CountryUnited States
Held by ETFKODEX US AI Optical Communication Network ETF (0173Y0)
Last updated2026-06-04
Financial snapshotas of2026-06-03

Next event:Next earnings · fiscal Q4 & full-year FY2026, estimated · Date is analyst-estimated and sources differ (≈ Aug 11–18); confirm on Lumentum IR. Last report: fiscal Q3 2026 on 2026-05-05. (source)

Latest reported quarter:Fiscal Q3 2026 (ended Mar 28, 2026) (reported2026-05-05)

Lumentum posted record revenue of $808.4 million, up 90% year over year, with non-GAAP EPS of $2.37 and non-GAAP gross margin of 47.9%, as cloud and AI laser demand drove both Components and Systems sharply higher.

Revenue$808.4M+90%YoY · record
Non-GAAP EPS$2.37
GAAP EPS$1.50
Non-GAAP gross margin47.9%
Non-GAAP operating margin32.2%

Primary source

Revenue by segment

Components$533.3M · 66%of revenue+77% YoY
Systems$275.1M · 34%of revenue+121% YoY

Guidance:Fiscal Q4 2026 (ending ~late Jun 2026)

Revenue$960M–$1.01B · record at midpoint
Non-GAAP operating margin35%–36%
Non-GAAP EPS$2.85–$3.05

Guidance source

Recent & upcoming events

  • · NVIDIA invests $2 billion in Lumentum.Strategic partnership funds R&D and new U.S. laser-manufacturing capacity, with a multibillion-dollar NVIDIA purchase commitment and capacity-access rights. (source)
  • · Record fiscal Q3 2026 results.Revenue $808.4M (+90% YoY), return to GAAP profitability, and fiscal Q4 guidance to roughly $1B; management said it is undershipping demand by more than 30%. (source)

Beginning FY2026 Lumentum reports a single segment, disclosing revenue by product type (Components, Systems) rather than the former Cloud & Networking vs Industrial Tech split.

Figures are as of 2026-06-03 and reflect the most recent public filings/IR releases; they are updated after each earnings report.

What does Lumentum do?

Lumentum makes optical and photonic products, lasers, optical components, and transceivers, sold into cloud and AI data centers alongside an industrial-and-consumer business. Its crown jewel is a leading share in high-end externally-modulated lasers (EMLs), the chips that set the data rate inside an optical transceiver and are essential to the 800G-to-1.6T upgrade cycle. Beginning in fiscal 2026 Lumentum reports a single segment, disclosing revenue by product type (Components and Systems) rather than its former Cloud & Networking split (SEC 8-K, May 5, 2026).

How is AI driving Lumentum’s business?

AI clusters need vast numbers of high-speed optical links, and each one consumes EMLs and transceivers that Lumentum supplies. Demand has outrun capacity: on its fiscal Q3 2026 call, management said it shipped twice the laser chips of a year earlier and still could not keep up, with a supply-demand gap of more than 30% even after roughly 40% capacity expansion (earnings call, May 2026).

We are significantly undershipping demand. And we’re having to make choices as to who we support.

— Michael Hurlston, President & CEO, Lumentum (fiscal Q3 2026 earnings call)

The next legs of growth are still ramping: 1.6T transceivers begin shipping in fiscal Q4 2026, co-packaged-optics lasers are targeted to produce meaningful revenue exiting 2026, and optical circuit switching runs under a multi-year, multi-billion-dollar purchase agreement (Q3 FY26 slides).

What did Lumentum report most recently?

In fiscal Q3 2026 (the quarter ended March 28, 2026), Lumentum posted record revenue of $808.4 million, up 90% year over year, with non-GAAP EPS of $2.37 and non-GAAP gross margin of 47.9% (SEC 8-K). Systems revenue rose 121% and Components 77%, both driven by hyperscaler optical demand. It was also a return to GAAP profitability, at $1.50 per share.

What is Lumentum’s guidance?

For fiscal Q4 2026, Lumentum guided revenue to $960 million–$1.01 billion, a record at the midpoint, with non-GAAP operating margin of 35–36% and non-GAAP EPS of $2.85–3.05 (Lumentum IR). The guide implies revenue passing the $1 billion quarterly mark at the high end, a level the company had not reached before this AI cycle.

Why did NVIDIA invest in Lumentum?

On March 2, 2026, NVIDIA agreed to invest $2 billion in Lumentum to fund R&D and new U.S. laser-manufacturing capacity, alongside a multibillion-dollar purchase commitment and future capacity-access rights (NVIDIA IR).

Optical interconnect technology and package integration are critical for the continued scaling of AI factories, improving the energy efficiency and resiliency of large-scale AI networks.

— NVIDIA–Lumentum strategic partnership announcement, March 2, 2026 (NVIDIA IR)

What are the risks for Lumentum?

  • Customer concentration. NVIDIA and a few hyperscalers anchor demand, so a spending pause would bite hard.
  • Capacity execution. With demand already exceeding supply, the thesis hinges on ramping the new U.S. fab and EML capacity on schedule.
  • Reduced disclosure. The shift to single-segment reporting lowers visibility into the cloud-versus-industrial mix.
  • Valuation. The stock has re-rated sharply, so any slip on the capacity ramp could be punished.

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Frequently asked questions about Lumentum

What does Lumentum do?

Lumentum designs and manufactures optical and photonic products, including the externally-modulated lasers (EMLs) and transceivers used in cloud and AI data-center networking, plus an industrial-and-consumer photonics business. Beginning in fiscal 2026 it reports a single segment, splitting revenue into Components ($533.3 million, 66%) and Systems ($275.1 million, 34%) rather than its former Cloud & Networking breakdown.

When does Lumentum report its next earnings?

Lumentum is expected to report fiscal Q4 and full-year 2026 results in mid-August 2026 (estimates range from about August 11 to 18). The date is analyst-estimated, so confirm it on Lumentum's investor-relations site. It last reported fiscal Q3 2026 on May 5, 2026.

What was Lumentum's latest quarterly revenue?

Lumentum reported record revenue of $808.4 million in fiscal Q3 2026 (ended March 28, 2026), up about 90% year over year, with non-GAAP EPS of $2.37 and non-GAAP gross margin of 47.9%. Systems revenue rose 121% and Components 77% on hyperscaler optical demand, and the quarter marked a return to GAAP profitability at $1.50 per share.

What is Lumentum's guidance?

For fiscal Q4 2026, Lumentum guided revenue to $960 million–$1.01 billion, non-GAAP operating margin to 35–36%, and non-GAAP EPS to $2.85–$3.05, a record at the midpoint.

How is Lumentum connected to NVIDIA?

On March 2, 2026, NVIDIA agreed to invest $2 billion in Lumentum to fund research and new U.S. manufacturing capacity, alongside a multibillion-dollar purchase commitment and future capacity-access rights for advanced laser components.

Why is Lumentum an AI optical networking play?

Lumentum holds a leading share in the high-end EML lasers required for the 800G-to-1.6T transceiver transition. Its cloud and AI demand is so strong that management says it is undershipping by more than 30%, even after expanding laser capacity.

Sources & references

  1. Lumentum announces third quarter of fiscal 2026 financial results · Lumentum Holdings Inc., 2026-05-05
  2. Lumentum fiscal Q3 2026 results (SEC 8-K, Exhibit 99.1) · Lumentum Holdings Inc. / SEC EDGAR, 2026-05-05
  3. Lumentum (LITE) Q3 2026 earnings call transcript · The Motley Fool, 2026-05-06
  4. NVIDIA announces strategic partnership with Lumentum and $2 billion investment · NVIDIA Corporation, 2026-03-02
  5. Lumentum Holdings · investor relations and events · Lumentum Holdings Inc., 2026-06-02
  6. Nasdaq listed company information · LITE · Nasdaq, 2026-06-02