Lumentum Holdings Inc. · NASDAQ:LITE
Lumentum — Q4 2023 Earnings Presentation
12 slides from Lumentum's earnings presentation, Aug 17, 2023
Slide 1: Q4 FY23 Conference Call
Q4 FY23 Conference Call August 17, 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 beliefs and expectations with res
Slide 3: FY23 Key Points
FY23 Key Points Total Company Results – FY23 revenue up 3% from FY22 – On track to $80M annualized synergy savings to be fully realized over the next 18 months; over half achieved during FY23 – Executed upon coherent module vertical integration strategy with NeoPhotonics and IPG product line acqui
Slide 4: Financial Trends FY16 to FY23 (GAAP)
Financial Trends FY16 to FY23 (GAAP) Net Revenue (M) GAAP Gross Margin (% of revenue) $1,767 $1,679 $1,743 $1,713 46.0% $1,565 44.9% $1,248 38.7% $1,002 34.6% $903 30.7% 31.8% 32.2% 27.2% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 GAAP Earnings Per Share GAAP Ope
Slide 5: Financial Trends FY16 to FY23 (Non-GAAP)
Financial Trends FY16 to FY23 (Non-GAAP) Net Revenue (M) Non-GAAP Gross Margin (% of revenue) 50.9% 51.6% $1,767 $1,679 $1,743 $1,713 46.5% $1,565 43.2% $1,248 38.9% 39.5% $1,002 $903 34.7% 33.0% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Non-GAAP Earnings Per Sh
Slide 6: Q4 FY23 Key Points
Q4 FY23 Key Points Telecom & Datacom – Revenue up 2% Y/Y – Demonstrated the industry’s first 800G ZR module technology – AI applications driving increased demand for EML and CW lasers for 800G transceivers – 200G-per-lane EML internal qualification completed – ROADM revenue grew 30% Q/Q and 21% Y/
Slide 7: Q4 FY23 Results (GAAP)
Q4 FY23 Results (GAAP) $ in millions Q4 FY23 Q3 FY23 Q4 FY22 except for EPS, % of revenue Revenue $370.8 $383.4 $422.1 Gross Margin 89.6 24.2% 112.0 29.2% 181.7 43.0% Operating Expenses 145.5 39.2% 163.4 42.6% 126.3 29.9% Operating Income (Loss) (55.9) (15.1)% (51.4) (13.4)% 55.4 13.1% Diluted EPS $
Slide 8: Q4 FY23 Results (Non-GAAP)
Q4 FY23 Results (Non-GAAP) $ in millions Q4 FY23 Q3 FY23 Q4 FY22 except for EPS, % of revenue Revenue $370.8 $383.4 $422.1 Gross Margin 136.1 36.7% 156.3 40.8% 212.7 50.4% Operating Expenses 102.4 27.6% 104.9 27.4% 91.1 21.6% Operating Income 33.7 9.1% 51.4 13.4% 121.6 28.8% Diluted EPS $0.59 $0.75
Slide 9: Q4 FY23 Segment Results
Q4 FY23 Segment Results Q4 FY23 Q3 FY23 Q4 FY22 $ in millions Revenue $370.8 $383.4 $422.1 Optical Communications 320.5 335.1 370.9 Telecom & Datacom 286.9 293.3 282.1 Industrial & Consumer (1) 33.6 41.8 88.8 Commercial Lasers 50.3 48.3 51.2 Gross Margin (Non-GAAP) 36.7 % 40.8 % 50.4 % Optical Commu
Slide 10: Balance Sheet
Balance Sheet Selected Items Q4 FY23 Q3 FY23 $ in millions Cash and Short-term Investments $2,013.6 $1,667.2 Working Capital(1) 442.1 453.7 Property, Plant & Equipment, net 489.5 482.9 Total Assets 4,632.1 4,354.0 Total Liabilities 3,276.3 2,816.0 Shareholder’s Equity 1,355.8 1,538.0 (1) Working cap
Slide 11: Q1 FY24 Guidance (Non-GAAP)
Q1 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 Q4 FY23 Q1 FY24 $ in millions except for EPS, % of revenue Actual Guidance Revenue $370.8 $300 - $325 Operating Margin 9.1% 1.0% - 4.0% Diluted EPS $0.59 $0.20 - $0
Slide 12: Thank you
Thank you ZLUMENTUM