Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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Lumentum Holdings Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2015
- Return on Equity (ROE) since 2015
- Debt to Equity since 2015
- Total Asset Turnover since 2015
- Aggregate Accruals
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Lumentum Holdings Inc., consolidated income statement
US$ in thousands
Based on: 10-K (reporting date: 2026-06-27), 10-K (reporting date: 2025-06-28), 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03).
The financial performance from 2021 to 2026 is characterized by a period of significant operational volatility, followed by a substantial revenue surge and a massive non-operational loss in the final period.
- Revenue Trends and Growth
- Net revenue remained relatively stable between 2021 and 2023, hovering around 1.7 billion US$. A notable contraction occurred in 2024, with revenue dropping to 1.36 billion US$. However, a strong recovery followed, culminating in a sharp increase to 3.01 billion US$ by 2026, representing a significant expansion of the top line compared to previous years.
- Gross Profitability and Margin Analysis
- Gross profit experienced a severe decline between 2021 and 2024, falling from 783 million US$ to a low of 252 million US$. This decline indicates significant margin compression, as cost of sales did not decrease proportionally with the revenue dip in 2024. Profitability improved in 2025 and saw a substantial rebound in 2026, with gross profit reaching 1.26 billion US$, suggesting a restoration of pricing power or improved production efficiencies.
- Operating Expense Management
- Research and development (R&D) and selling, general and administrative (SG&A) expenses showed a consistent upward trajectory over the six-year period. R&D spending rose from 214.5 million US$ in 2021 to 356.5 million US$ in 2026, while SG&A grew from 241.4 million US$ to 363.2 million US$. Restructuring charges peaked in 2024 at 72.6 million US$, coinciding with the period of lowest revenue and gross profit.
- Operational Profitability
- The company transitioned from operational profitability in 2021 and 2022 to operational losses between 2023 and 2025. The deepest operational deficit occurred in 2024 with a loss of 434 million US$. A reversal of this trend is evident in 2026, where income from operations returned to a positive 524.8 million US$, mirroring the levels seen in 2021.
- Non-Operating Items and Net Income
- Net income was heavily influenced by extraordinary items. In 2021, a merger termination fee of 207.5 million US$ provided a significant boost to the bottom line. Conversely, the 2026 fiscal year was marked by a massive net loss of 6.94 billion US$, driven almost entirely by a loss on debt extinguishment totaling 7.76 billion US$. This indicates that while operational performance recovered strongly in 2026, a major balance sheet restructuring event resulted in a substantial accounting loss.