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.

Lumentum Holdings Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Mar 28, 2026	Dec 27, 2025	Sep 27, 2025	Jun 28, 2025	Mar 29, 2025	Dec 28, 2024	Sep 28, 2024	Jun 29, 2024	Mar 30, 2024	Dec 30, 2023	Sep 30, 2023	Jul 1, 2023	Apr 1, 2023	Dec 31, 2022	Oct 1, 2022	Jul 2, 2022	Apr 2, 2022	Jan 1, 2022	Oct 2, 2021	Jul 3, 2021	Apr 3, 2021	Dec 26, 2020	Sep 26, 2020	Jun 27, 2020	Mar 28, 2020	Dec 28, 2019	Sep 28, 2019
Net revenue	808,400)	665,500)	533,800)	480,700)	425,200)	402,200)	336,900)	308,300)	366,500)	366,800)	317,600)	370,800)	383,400)	506,000)	506,800)	422,100)	395,400)	446,700)	448,400)	392,100)	419,500)	478,800)	452,400)	368,100)	402,800)	457,800)	449,900)
Cost of sales	(432,100)	(405,800)	(332,800)	(301,500)	(283,700)	(281,200)	(236,500)	(234,900)	(284,700)	(281,300)	(222,900)	(263,200)	(252,700)	(315,100)	(282,600)	(224,800)	(212,600)	(223,300)	(200,400)	(213,400)	(218,700)	(234,200)	(231,700)	(217,400)	(231,200)	(256,300)	(269,700)
Amortization of acquired developed intangibles	(19,300)	(19,600)	(19,500)	(19,300)	(19,000)	(21,400)	(22,500)	(22,100)	(22,300)	(21,500)	(18,000)	(18,000)	(18,700)	(24,700)	(23,000)	(15,600)	(15,600)	(15,900)	(15,800)	(15,900)	(15,800)	(15,000)	(15,000)	(15,000)	(13,900)	(12,400)	(12,500)
Gross profit	357,000)	240,100)	181,500)	159,900)	122,500)	99,600)	77,900)	51,300)	59,500)	64,000)	76,700)	89,600)	112,000)	166,200)	201,200)	181,700)	167,200)	207,500)	232,200)	162,800)	185,000)	229,600)	205,700)	135,700)	157,700)	189,100)	167,700)
Research and development	(90,600)	(80,100)	(81,400)	(79,500)	(75,900)	(74,200)	(74,300)	(73,200)	(77,200)	(78,300)	(73,500)	(73,900)	(85,400)	(75,800)	(72,700)	(56,700)	(56,700)	(53,200)	(54,100)	(54,100)	(57,200)	(52,800)	(50,400)	(49,000)	(48,700)	(51,000)	(49,900)
Selling, general and administrative	(90,800)	(96,100)	(85,100)	(83,600)	(112,000)	(76,300)	(76,300)	(74,900)	(77,700)	(85,100)	(73,000)	(68,300)	(76,400)	(98,400)	(105,700)	(69,600)	(63,800)	(69,000)	(63,300)	(58,300)	(65,500)	(61,300)	(56,300)	(54,800)	(61,300)	(62,400)	(56,700)
Restructuring and related charges (reversals)	(1,100)	400)	(8,300)	(5,200)	(7,200)	(700)	(9,700)	(36,600)	(19,200)	(5,800)	(11,000)	(3,300)	(1,600)	(13,900)	(9,300)	—)	100)	(100)	1,100)	(4,600)	(2,900)	(200)	—)	(3,100)	(2,700)	(900)	(1,300)
Gain on sale of facility	—)	—)	—)	—)	34,900)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Merger termination fee and related costs, net	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	207,500)	—)	—)	—)	—)	—)	—)
Impairment charges	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,800)	(2,500)	—)	—)
Operating expenses	(182,500)	(175,800)	(174,800)	(168,300)	(160,200)	(151,200)	(160,300)	(184,700)	(174,100)	(169,200)	(157,500)	(145,500)	(163,400)	(188,100)	(187,700)	(126,300)	(120,400)	(122,300)	(116,300)	(117,000)	81,900)	(114,300)	(106,700)	(108,700)	(115,200)	(114,300)	(107,900)
Income (loss) from operations	174,500)	64,300)	6,700)	(8,400)	(37,700)	(51,600)	(82,400)	(133,400)	(114,600)	(105,200)	(80,800)	(55,900)	(51,400)	(21,900)	13,500)	55,400)	46,800)	85,200)	115,900)	45,800)	266,900)	115,300)	99,000)	27,000)	42,500)	74,800)	59,800)
Escrow settlement	—)	27,500)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Interest expense	(6,200)	(6,300)	(5,700)	(5,400)	(5,700)	(5,600)	(5,500)	(5,400)	(9,000)	(9,700)	(9,700)	(9,400)	(8,700)	(8,900)	(8,500)	(26,500)	(19,700)	(17,100)	(16,900)	(18,000)	(16,400)	(16,300)	(16,000)	(15,900)	(15,600)	(18,300)	(11,400)
Other income (expense), net	15,500)	11,000)	4,200)	2,400)	4,200)	14,900)	8,700)	11,300)	16,200)	13,400)	21,200)	19,900)	11,400)	3,700)	13,800)	8,200)	2,200)	1,000)	600)	700)	2,400)	(900)	600)	3,500)	21,700)	1,200)	5,000)
Income (loss) before income taxes	183,800)	96,500)	5,200)	(11,400)	(39,200)	(42,300)	(79,200)	(127,500)	(107,400)	(101,500)	(69,300)	(45,400)	(48,700)	(27,100)	18,800)	37,100)	29,300)	69,100)	99,600)	28,500)	252,900)	98,100)	83,600)	14,600)	48,600)	57,700)	53,400)
Income tax (provision) benefit	(39,600)	(18,300)	(1,000)	224,700)	(4,900)	(18,600)	(3,200)	(125,000)	(19,600)	2,400)	1,400)	(14,800)	9,400)	(4,600)	(19,200)	(2,400)	(3,300)	(12,400)	(18,100)	(7,000)	(27,400)	(14,900)	(16,500)	(19,200)	(5,200)	(8,600)	(5,800)
Net income (loss)	144,200)	78,200)	4,200)	213,300)	(44,100)	(60,900)	(82,400)	(252,500)	(127,000)	(99,100)	(67,900)	(60,200)	(39,300)	(31,700)	(400)	34,700)	26,000)	56,700)	81,500)	21,500)	225,500)	83,200)	67,100)	(4,600)	43,400)	49,100)	47,600)

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.

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Lumentum Holdings Inc. (NASDAQ:LITE)

Income StatementQuarterly Data

Income Statement
Quarterly Data