Slide 1: Ciena Corporation Fiscal Q3 2026 Earnings Presentation
© Ciena Corporation 2026. All rights reserved. Proprietary Information. Ciena Corporation Fiscal Q3 2026 Earnings Presentation Period ended August 1, 2026 September 3, 2026
Slide 2: Forward-looking statements and non-GAAP measures
© Ciena Corporation 2026. All rights reserved. Proprietary Information.2 Forward-looking statements and non-GAAP measures You are encouraged to review the Investors section of our website, where we routinely post press releases, Securities and Exchange Commission (SEC) filings, recent news, financia
Slide 3: Table of Contents
© Ciena Corporation 2026. All rights reserved. Proprietary Information.3 Table of Contents 1. Introduction to Ciena 2. Fiscal Q3 2026 financial performance 3. Fiscal Q4 2026 outlook and full-year 2027 preliminary outlook 4. Appendix
Slide 4: Executive Summary
© Ciena Corporation 2026. All rights reserved. Proprietary Information.4 Executive Summary Optical technology is the transport engine that is the key enabler for customers to monetize their AI investments Ciena is the only pure-play optical systems provider operating at scale today Q3 2026 results d
Slide 5: Introduction to Ciena
© Ciena Corporation 2026. All rights reserved. Proprietary Information. Introduction to Ciena
Slide 6: Ciena has global network reach and scale
© Ciena Corporation 2026. All rights reserved. Proprietary Information.6 Ciena has global network reach and scale *Based on FYE2025 ** Market share measures as of Q2 2026 exclude China. Market data is derived from third-party industry analysts. Such data is subject to the assumptions, methodologies,
Slide 7: Data generation and bandwidth are continuing to grow
© Ciena Corporation 2026. All rights reserved. Proprietary Information.7 Data generation and bandwidth are continuing to grow The size and scale of AI-driven investments are resulting in sustained high bandwidth growth
Slide 8: Cloud Providers are the drivers of industry change
© Ciena Corporation 2026. All rights reserved. Proprietary Information.8 Cloud Providers are the drivers of industry change Cloud Providers (CP) – and especially the Hyperscalers – are funding an unprecedented scale of investment
Slide 9: Q3 FY 2026 results
© Ciena Corporation 2026. All rights reserved. Proprietary Information. Q3 FY 2026 results
Slide 10: Ciena's differentiated position in AI is driving record Q3 performance
© Ciena Corporation 2026. All rights reserved. Proprietary Information.10 Ciena's differentiated position in AI is driving record Q3 performance ▪ Revenue: $1.7B, up 37% YoY • Cloud provider revenue: 53% of total, up 82% YoY • RLS and Waveserver revenue each grew more than 55% YoY • Pluggables reven
Slide 11: Q3 FY 2026 comparative financial highlights
© Ciena Corporation 2026. All rights reserved. Proprietary Information.11 Q3 FY 2026 comparative financial highlights * Reconciliations of these non-GAAP measures to our GAAP results are included in the Appendix and in the press release for the relative period. ** Denotes % change, or in the case of
Slide 12: Q3 FY 2026 comparative operating metrics
© Ciena Corporation 2026. All rights reserved. Proprietary Information.12 Q3 FY 2026 comparative operating metrics Q3 FY 2025 Q3 FY 2026 YoY Change* Cash and investments $1.4B $2.8B 100% Cash provided by operations $174M $196M 13% Free cash flow $135M $116M (14)% DSO 88 76 (12) Inventory turns 2.7x
Slide 13: Business outlook
© Ciena Corporation 2026. All rights reserved. Proprietary Information. Business outlook
Slide 14: Key assumptions underlying our outlook
© Ciena Corporation 2026. All rights reserved. Proprietary Information.14 Key assumptions underlying our outlook AI infrastructure investment: Cloud providers continue to execute on capital expenditure investment plans on AI infrastructure buildouts at levels consistent with recent public commitment
Slide 15: Business outlook for fiscal Q4 2026
© Ciena Corporation 2026. All rights reserved. Proprietary Information.15 Business outlook for fiscal Q4 20261 1 Projections or outlook with respect to future operating results are only as of September 3, 2026, the date presented on the related earnings call. Actual results may differ materially fro
Slide 16: Early view of outlook for fiscal year 2027
© Ciena Corporation 2026. All rights reserved. Proprietary Information.16 Early view of outlook for fiscal year 20271 1 Projections or outlook with respect to future operating results are only as of September 3, 2026, the date presented on the related earnings call. Actual results may differ materia
Slide 17: Q3 FY 2026 appendix
© Ciena Corporation 2026. All rights reserved. Proprietary Information. Q3 FY 2026 appendix
Slide 18: Glossary of terms
© Ciena Corporation 2026. All rights reserved. Proprietary Information.18 Glossary of terms Term Definition Coherent optics A technology for sending data over fiber optic cables using light waves — faster and more efficient than traditional methods at long distances WaveLogic Ciena’s proprietary fam
Slide 19: Revenue by segment and margins
© Ciena Corporation 2026. All rights reserved. Proprietary Information.19 Revenue by segment and margins * Reconciliations of these non-GAAP measures to GAAP results are included in this presentation. ** Denotes % of total revenue
Slide 20: Revenue by customer type
© Ciena Corporation 2026. All rights reserved. Proprietary Information.20 Revenue by customer type
Slide 21: Revenue by geographic region
© Ciena Corporation 2026. All rights reserved. Proprietary Information.21 Revenue by geographic region 9% 8% 11% 15% 14% 12% 76% 78% 78% 77% 14% 8% 10% 11% 79%
Slide 22: Gross Profit Reconciliation
© Ciena Corporation 2026. All rights reserved. Proprietary Information.22 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 Q4 FY 2025 Q3 FY 2025 GAAP gross profit $759,265 $691,554 $625,520 $577,179 $503,079 Share-based compensation-products 2,175 2,010 1,822 1,964 2,027 Share-based compensation-services 4,666 4,50
Slide 23: Operating expense and income from operations reconciliation
© Ciena Corporation 2026. All rights reserved. Proprietary Information.23 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 Q4 FY 2025 Q3 FY 2025 GAAP operating expense $458,086 $453,683 $436,108 $566,688 $429,544 Share-based compensation-research and development 20,173 18,586 16,594 16,274 16,749 Share-based compen
Slide 24: Net income reconciliation
© Ciena Corporation 2026. All rights reserved. Proprietary Information.24 Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 Q4 FY 2025 Q3 FY 2025 GAAP net income $266,418 $218,220 $150,283 $19,489 $50,308 Exclude GAAP provision (benefit) for income taxes 44,203 12,840 30,832 (16,631) 15,511 Income before income taxe
Slide 25: EBITDA reconciliation
© Ciena Corporation 2026. All rights reserved. Proprietary Information.25 Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) Q3 FY 2026 Q2 FY 2026 Q1 FY 2026 Q4 FY 2025 Q3 FY 2025 Net income (GAAP) $266,418 $218,220 $150,283 $19,489 $50,308 Add: Interest expense 5,803 20,922 21,25