Optical circuit switches (OCS)
Shipping and starting to add revenue; management calls it one of the company's key growth drivers.
What it is
Optical circuit switches route light between fiber paths inside large AI and cloud data centers without converting it to electrical signals. Lumentum says the business is beginning to layer into results, with the company not breaking out OCS revenue in its release.
Why it matters to the stock. OCS is a new revenue line for Lumentum that could diversify it away from transceiver cycles. Traders watch for the first disclosed OCS revenue number and for any sign of backlog conversion.
News
Lumentum fiscal Q3 revenue hits record $808.4M; Q4 guide $960M to $1.01B
Lumentum reported fiscal third-quarter 2026 revenue of $808.4 million, up 90.1% from $425.2 million a year earlier, with non-GAAP EPS of $2.37.
Lumentum fiscal Q2 revenue rises 65% to $665.5M; Q3 guide tops consensus
Lumentum reported fiscal second-quarter 2026 revenue of $665.5 million, up 65.5% from $402.2 million a year earlier, with non-GAAP EPS of $1.67.