Lumentum Holdings Inc. · NASDAQ:LITE
Lumentum — Q1 2024 Earnings Presentation
12 slides from Lumentum's earnings presentation, Nov 8, 2023
Slide 1: Q1 FY24 Conference Call
Q1 FY24 Conference Call November 8, 2023
Slide 2: Forward Looking Statements and Financial Presentation
Forward Looking Statements and Financial Presentation This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding our belief and expectations with resp
Slide 3: Q1 FY24 Key Points
Q1 FY24 Key Points Total Company – Revenue and non-GAAP EPS above the midpoint of our guidance – Closed Cloud Light acquisition, positioning Lumentum as a leading photonics supplier to cloud customers – Continuing tight cost controls and achieving synergy targets – Networking customer inventory co
Slide 4: Financial Segment Reporting Change
Financial Segment Reporting Change Previous Categories New Categories Key Products in New Categories • Pump Lasers & Passive Components • Coherent Components & Tunable Lasers Optical Communications • ZR/ZR+ & DWDM Transceivers • ROADMs & Optical Amplifiers Telecom & Datacom Cloud & Networking • EML/
Slide 5: Compelling Strategic and Financial Benefits of Cloud Light
Compelling Strategic and Financial Benefits of Cloud Light Capture AI inflection Better equipped to Better partner to cloud Amplifies edge and with expanded address future and AI infrastructure metro networking intra-data center customer roadmaps customers opportunity opportunity >5x expansion in
Slide 6: Q1 FY24 Results (GAAP)
Q1 FY24 Results (GAAP) $ in millions Q1 FY24 Q4 FY23 Q1 FY23 except for EPS, % of revenue Revenue $317.6 $370.8 $506.8 Gross Margin 76.7 24.1% 89.6 24.2% 201.2 39.7% Operating Expenses 157.5 49.6% 145.5 39.2% 187.7 37.0% Operating Income (Loss) (80.8) (25.4)% (55.9) (15.1)% 13.5 2.7% Diluted EPS $(1
Slide 7: Q1 FY24 Results (Non-GAAP)
Q1 FY24 Results (Non-GAAP) $ in millions Q1 FY24 Q4 FY23 Q1 FY23 except for EPS, % of revenue Revenue $317.6 $370.8 $506.8 Gross Margin 110.7 34.9% 136.1 36.7% 244.1 48.2% Operating Expenses 100.1 31.5% 102.4 27.6% 106.7 21.1% Operating Income 10.6 3.3% 33.7 9.1% 137.4 27.1% Diluted EPS $0.35 $0.59
Slide 8: Segment Results
Q1 FY24 Segment Results Q1 FY24 Q4 FY23 * Q1 FY23 * $ in millions Revenue $317.6 $370.8 $506.8 Cloud & Networking 229.7 286.5 360.1 Industrial Tech 87.9 84.3 146.7 Segment Profit 12.3 % 16.9 % 33.6 % Cloud & Networking 10.4 % 17.7 % 28.2 % Industrial Tech 17.4 % 14.4 % 46.9 % * Prior period amounts
Slide 9: Balance Sheet
Balance Sheet Selected Items Q1 FY24 Q4 FY23 $ in millions Cash and Short-term Investments $1,944.3 $2,013.6 Working Capital (1) 469.4 442.1 Property, Plant & Equipment, net 511.6 489.5 Total Assets 4,545.0 4,632.1 Total Liabilities 3,234.2 3,276.3 Shareholder’s Equity 1,310.8 1,355.8 (1) Working ca
Slide 10: Q2 FY24 Guidance (Non-GAAP)
Q2 FY24 Guidance (Non-GAAP) Guidance is based on our expectations as of today and will not be updated or confirmed as of any other date Q1 FY24 Q2 FY24 $ in millions Actual Guidance except for EPS, % of revenue Revenue $317.6 $350 - $380 Operating Margin 3.3% 2.0% - 4.0% Diluted EPS $0.35 $0.25 - $0
Slide 11: Recast and Reconciliation of Historical Segment Measures
Recast and Reconciliation of Historical Segment Measures © 2023 Lumentum Operations LLC | 11
Slide 12: Thank You
Thank You ZLUMENTUM