Ciena Corporation (CIEN) SEC Filings & Earnings Calls
EquiReason read 12 Ciena Corporation SEC filings in the last 12 months. Latest: 8-K on 2026-09-03 — FQ3 2026 revenue $1.67B (+37% YoY), adj. EPS $2.11 (+215% YoY); raised FY26 revenue guidance to $6.42B (+35% YoY); strong AI-driven demand for optical networking..
Source: SEC EDGAR filings · figures as of 2026-08-01 · read by EquiReason
- Market cap
- 45.4B
- P/E TTM
- 71.5
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 9 Dec, in 46 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
3 Sep 20268-K · 2.02FQ3 2026 revenue $1.67B (+37% YoY), adj. EPS $2.11 (+215% YoY); raised FY26 revenue guidance to $6.42B (+35% YoY); strong AI-driven demand for optical networking.earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q3-2026 | $1.67B | +37% y/y |
| GAAP gross margin · Q3-2026 | 45.4% | |
| Adjusted gross margin · Q3-2026 | 46.4% | |
| GAAP operating margin · Q3-2026 | 18.0% | |
| Adjusted operating margin · Q3-2026 | 22.5% | |
| GAAP net income per diluted share · Q3-2026 | $1.83 | +423% y/y |
| Adjusted EPS · Q3-2026 | $2.11 | +215% y/y |
| EBITDA · Q3-2026 | $350M | +220% y/y |
| Adjusted EBITDA · Q3-2026 | $411M | +160% y/y |
| Optical Networking revenue · Networking Platforms · Q3-2026 | $1.19B | +46% y/y |
Guidance
FY26 revenue raised to $6.42B ± $50M from prior guidance; Q4 FY26 revenue guidance $1.75B ± $50M; Q4 FY26 adj. gross margin 45% ± 50bps; Q4 FY26 adj. operating expense $415M ± $10M; Q4 FY26 adj. operating margin 20% ± 50bps
Strong demand and margin expansion driven by AI-related network investment; FY26 revenue guidance raised to $6.42B (+35% YoY at midpoint).
Risks flagged
Customer concentration: two customers represent 41.7% of revenue.
“Two customers represented 10%-plus of revenue for a total of 41.7% of revenue.” · word for word
3 Sep 202610-QCiena reported strong Q3 2026 results with revenue up 37% YoY and net income up 429% YoY, driven by optical networking and cloud provider demand.earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q3-2026 | $1.67B | +37% y/y |
| Net Income · Q3-2026 | $266M | +429% y/y |
| Gross Margin · Q3-2026 | 45.4% | |
| Operating Cash Flow · 9M-2026 | $684M | +57% y/y |
| Free Cash Flow · 9M-2026 | $489M | |
| Revenue - Optical Networking · Networking Platforms · Q3-2026 | $1.19B | +46% y/y |
| Revenue - Routing and Switching · Networking Platforms · Q3-2026 | $164M | +31% y/y |
| Remaining Performance Obligations · 2026-08-01 | $2.50B |
Risks flagged
Inventory obsolescence risk
“Provision for inventory excess and obsolescence of $72.4 million, primarily driven by reductions in forecasted demand for certain products.” · word for word
Customer concentration risk
“Cloud provider A accounted for 29% of revenue in Q3 2026.”
11 Jun 20268-K · 1.01, 2.03, 3.02, 8.01Ciena issued $2.875B convertible senior notes due 2031, used proceeds to repurchase shares, repay term loan, and for general corporate purposes including supply chain investments.open
Figures in the filing · each found in the filing text
| aggregate principal amount of notes · point_in_time | $2.88B | |
| net proceeds · point_in_time | $2.72B | |
| shares repurchased · point_in_time | 300,000 | |
| repurchase price per share · point_in_time | $466.67 |
Risks flagged
Convertible notes increase debt; potential dilution if converted; conversion price ~$746.66 vs current ~$466.67.
“initial conversion price of approximately $746.66 per share” · word for word
4 Jun 20268-K · 2.02Guidance: FY26 revenue guidance raised to $6.3B ± $100Mearningsopen
Guidance
FY26 revenue guidance raised to $6.3B ± $100M
Raised FY26 revenue guidance; Q3 guidance provided.
4 Jun 202610-QTotal revenue $1.57B (+40% y/y); Net income $218M (+2333% y/y); Operating cash flow $487M (+87% y/y)open
Figures in the filing · each found in the filing text
| Total revenue · Q2-2026 | $1.57B | +40% y/y |
| Net income · Q2-2026 | $218M | +2333% y/y |
| Operating cash flow · H1-2026 | $487M | +87% y/y |
| Free cash flow · H1-2026 | $372M | +75% y/y |
| Optical Networking revenue · Networking Platforms · Q2-2026 | $1.10B | +42% y/y |
| Routing and Switching revenue · Networking Platforms · Q2-2026 | $174M | +88% y/y |
| Remaining performance obligations · 2026-05-02 | $2.50B | |
| Gross margin · Q2-2026 | 44.0% | |
| Operating margin · Q2-2026 | 15.1% | |
| Diluted EPS · Q2-2026 | $1.49 | +2383% y/y |
Risks flagged
Inventory obsolescence risk
“During the first six months of fiscal 2026, Ciena recorded a provision for inventory excess and obsolescence of $42.5 million, primarily driven by reductions in forecasted demand for certain products.” · word for word
Customer concentration risk
“Cloud provider A and Cloud provider B together accounted for $533,512k or 34% of Q2 2026 revenue.”
5 Mar 202610-QCiena reported strong Q1 FY2026 results with revenue up 33% YoY, net income up 237% YoY, and RPO of $2.3 billion.earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $1.43B | +33% y/y |
| Net Income · Q1-2026 | $150M | +237% y/y |
| Free Cash Flow · Q1-2026 | $154M | |
| Operating Cash Flow · Q1-2026 | $228M | +120% y/y |
| Remaining Performance Obligations · 2026-01-31 | $2.30B | |
| Optical Networking Revenue · Networking Platforms · Q1-2026 | $1.02B | +41% y/y |
| Routing and Switching Revenue · Networking Platforms · Q1-2026 | $126M | +35% y/y |
| Platform Software and Services Revenue · Platform Software and Services · Q1-2026 | $93M | -2% y/y |
| Blue Planet Automation Software and Services Revenue · Blue Planet Automation Software and Services · Q1-2026 | $20M | -22% y/y |
| Global Services Revenue · Global Services · Q1-2026 | $164M | +26% y/y |
Risks flagged
Inventory obsolescence risk
“Provision for inventory excess and obsolescence $21.8 million, primarily related to a decrease in the forecasted demand for certain products.”
Customer concentration risk
“Cloud provider A and B and Service provider A accounted for 47% of total revenue.”
5 Mar 20268-K · 2.02Revenue $1.43B (+33% y/y); Adjusted EPS $1.35 (+111% y/y); GAAP EPS $1.03 (+232% y/y); Guidance: FY2026 revenue guidance raised to $5.9-6.3B (midpoint $6.1B, +28% YoY)earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $1.43B | +33% y/y |
| Adjusted EPS · Q1-2026 | $1.35 | +111% y/y |
| GAAP EPS · Q1-2026 | $1.03 | +232% y/y |
| Adjusted gross margin · Q1-2026 | 44.7% | |
| Adjusted operating margin · Q1-2026 | 17.9% | |
| Revenue guidance Q2 2026 · Q2-2026 | $1.50B | |
| Optical Networking revenue · Networking Platforms · Q1-2026 | $1.02B | +41% y/y |
| Routing and Switching revenue · Networking Platforms · Q1-2026 | $126M | +35% y/y |
| Adjusted EBITDA · Q1-2026 | $287M | +84% y/y |
Guidance
FY2026 revenue guidance raised to $5.9-6.3B (midpoint $6.1B, +28% YoY)
Strong Q1 beat and raised FY guidance driven by AI-related demand; record backlog supports multi-year growth.
12 Dec 202510-KRevenue $4.80B (+19% y/y); Backlog $5.00B (+138% y/y); Gross Margin 42open
Figures in the filing · each found in the filing text
| Revenue · FY2025 | $4.80B | +19% y/y |
| Backlog · FY2025 | $5.00B | +138% y/y |
| Gross Margin · FY2025 | 42.0% | |
| R&D Investment · FY2025 | $848M | +11% y/y |
Risks flagged
Tariff exposure on manufacturing and supply chain
“Tariffs recently implemented that have impacted or could materially impact our business include tariffs on U.S. imports: from Canada and Mexico, as products making up a significant portion of our revenue are manufactured in or distributed from Mexico, and we generally introduce new products and conduct related early volume manufacturing in Canada; of steel, ” · word for word
Customer concentration in cloud providers
“Within this environment, we have experienced increased customer concentration in both orders and revenue, particularly with cloud providers, with a single cloud provider customer continuing to provide a significant volume of orders and two cloud providers in our top five customers by revenue for fiscal 2025.” · word for word
Supply chain constraints may persist
“While we believe much of this backlog growth reflects the increased demand for connectivity to address AI workloads, a portion is related to an industry-wide constrained supply environment.” · word for word
11 Dec 20258-K · 2.02Revenue $1.35B (+20% y/y); Revenue $4.77B (+19% y/y); Adjusted gross margin 43.4; Guidance: FY26 revenue $5.7B-$6.1B vs FY25 $4.77Bearningsopen
Figures in the filing · each found in the filing text
| Revenue · Q4-2025 | $1.35B | +20% y/y |
| Revenue · FY2025 | $4.77B | +19% y/y |
| Adjusted gross margin · Q4-2025 | 43.4% | |
| Adjusted operating margin · Q4-2025 | 13.2% | |
| Adjusted net income per diluted share · Q4-2025 | $0.91 | +69% y/y |
| Adjusted net income per diluted share · FY2025 | $2.64 | +45% y/y |
| Optical Networking revenue · Networking Platforms · Q4-2025 | $929M | +19% y/y |
| Routing and Switching revenue · Networking Platforms · Q4-2025 | $118M | +49% y/y |
| Share repurchases · Q4-2025 | $85M |
Guidance
FY26 revenue $5.7B-$6.1B vs FY25 $4.77B
FY26 revenue guidance significantly above FY25 actual; operating margin expansion to ~17% from 11.2%; strong demand from cloud and AI.
Risks flagged
Customer concentration: three customers >10% of Q4 revenue (43.6% total).
“Three customers represented 10%-plus of revenue for a total of 43.6% of revenue for the fiscal fourth quarter 2025.” · word for word
Ciena Corporation — questions
- What did Ciena Corporation file recently?
- 12 SEC filings in the last 12 months. Latest: 8-K on 2026-09-03 — FQ3 2026 revenue $1.67B (+37% YoY), adj. EPS $2.11 (+215% YoY); raised FY26 revenue guidance to $6.42B (+35% YoY); strong AI-driven demand for optical networking.
Every figure on this page comes from Ciena Corporation's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.