Lumentum Holdings (LITE) FY2025 results: revenue $1.6 billion, up 21.0% on the year

Lumentum Holdings Inc. (LITE) reported revenue of $1.6 billion for fiscal 2025, the year ended 28 June 2025, up 21.0% on the year before. Net income was $26 million, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 19 August 2025.

Revenue

$1.6 billion

+21.0% on the year

FY2018FY2025

Operating margin

-10.9%

-31.9% a year earlier

FY2018FY2025

Net income

$26 million

FY2018FY2025

Diluted EPS

$0.37

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	1,645	1,359	1,767	+21.0%
Cost of revenue	1,103	1,024	1,114	+7.7%
Gross profit	460	252	569	+82.9%
Gross margin	28.0%	18.5%	32.2%
Research and development	304	302	308	+0.6%
Selling, general and administrative	348	311	349	+12.1%
Operating income	-180	-434	-116
Operating margin	-10.9%	-31.9%	-6.5%
Interest expense	22.2	33.8	35.5	-34.3%
Income tax	-198	141	29.2
Net income	25.9	-546	-132
Net margin	1.6%	-40.2%	-7.4%
Diluted EPS	$0.37	-$8.12	-$1.93

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2025	FY2024	FY2023	On the year
Operating cash flow	126	24.7	180	+411.3%
Capital expenditure	231	133	128	+73.7%
Free cash flow	-105	-108	51.3
Free cash flow margin	-6.4%	-8.0%	2.9%
Cash from investing	-84.1	-114	-874
Cash from financing	41.8	-333	263
Depreciation and amortisation	254	261	234	-2.8%
Share-based compensation	177	129	148	+37.6%
Buybacks	0.0	0.0	176
Diluted shares, weighted	70m	67m	68m	+3.4%
Shares outstanding at period end	70m	68m	66m	+2.8%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	1,135	957	1,356	+18.5%
Redeemable equity	0.0	0.0	0.0
Debt	2,573	2,503	2,812	+2.8%
Operating lease liabilities	23.6	43.0	47.7	-45.1%
Other liabilities	487	428	417	+13.7%
Total liabilities and equity	4,219	3,932	4,632	+7.3%
Fixed assets	n/a	n/a	490
Goodwill	1,061	1,056	695	+0.5%
Intangible assets	465	618	459	-24.7%
Investments	356	450	1,155	-20.9%
Cash and equivalents	521	437	859	+19.2%
Inventory	470	398	409	+18.0%
Other assets	1,346	973	566	+38.3%
Total assets	4,219	3,932	4,632	+7.3%

10-K for the year ended 28 June 2025, filed 19 August 2025: the filing.