Income Statement
Quarterly Data
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:
- Cash Flow Statement
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2015
- Return on Equity (ROE) since 2015
- Price to Earnings (P/E) since 2015
- Price to Book Value (P/BV) since 2015
- Analysis of Revenues
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Lumentum Holdings Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2026-03-28), 10-Q (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-K (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28).
The financial performance exhibits a distinct cyclical pattern, characterized by a period of stability, a significant operational downturn, and a subsequent aggressive recovery in revenue and profitability.
- Revenue Trends
- Net revenue remained relatively consistent between late 2019 and 2022, generally fluctuating between 368 million and 506 million. A contraction phase occurred throughout 2023, with revenue reaching a low of 317.6 million in September 2023. This was followed by a sustained growth trajectory starting in late 2023, culminating in a peak of 808.4 million by March 2026.
- Gross Profitability
- Gross profit followed the revenue trend but showed higher volatility. While gross profits were strong through 2021, they compressed severely during the 2023-2024 period, hitting a minimum of 51.3 million in June 2024. A sharp recovery is evident in the final quarters of the period, with gross profit expanding to 357 million by March 2026, suggesting improved pricing power or reduced cost of sales relative to revenue.
- Operating Expenses and Efficiency
- Research and development expenses showed a steady long-term increase, rising from approximately 50 million in 2019 to 90.6 million by March 2026, indicating continued investment in innovation. Selling, general, and administrative expenses peaked in late 2022 and early 2023 before stabilizing. Operating income entered negative territory in late 2022, with losses deepening to a trough of 133.4 million in June 2024. Operational profitability was restored by September 2025, with operating income reaching 174.5 million by the end of the period.
- Net Income and Non-Recurring Items
- Net income is marked by extreme volatility due to significant non-operating events. A notable spike occurred in April 2021, driven by a merger termination fee of 207.5 million. Similarly, a substantial net income gain in June 2025 was primarily the result of a 224.7 million income tax benefit. Other impactful one-time items include a 34.9 million gain on the sale of a facility in March 2025 and a 27.5 million escrow settlement in December 2025.
- Tax and Interest Impact
- Interest expenses decreased significantly from their 2022 peaks, trending downward to approximately 6.2 million by March 2026, which reduced the drag on net income. Income tax provisions were highly inconsistent, shifting from significant benefits in 2025 to provisions in the final quarter of the analyzed period.