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. Components brought in $443.7 million and Systems $221.8 million. For fiscal Q3 the company guided to revenue of $780 million to $830 million, a 30% to 31% non-GAAP operating margin and non-GAAP EPS of $2.15 to $2.35. Management said optical circuit switch backlog was well beyond $400 million and that it had won an incremental multi-hundred-million-dollar CPO laser order.

• Revenue $665.5M, up 65.5% year over year; non-GAAP gross margin 42.5%, GAAP 36.1%.
• Non-GAAP EPS $1.67; GAAP EPS $0.89; non-GAAP operating margin 25.2%.
• Components $443.7M (66.7%); Systems $221.8M (33.3%).
• Q3 guidance: revenue $780M to $830M, non-GAAP operating margin 30% to 31%, non-GAAP EPS $2.15 to $2.35.
• OCS backlog well beyond $400M; incremental CPO laser order deliverable in first half of calendar 2027.