Lumentum Holdings filed an 8-K with the SEC after the close reporting its fiscal fourth-quarter and full-year 2026 results (year ended June 27, 2026). The short version: revenue more than doubled from a year ago and both margins and profit came in ahead of the company's own guidance, powered by demand for the optical parts that move data inside AI data centers.

The numbers

• Revenue: $1.006 billion, up 109% year-over-year (from $480.7M) and up ~25% from last quarter. That edged past the ~$988M analysts expected.
• Adjusted (non-GAAP) EPS: $3.23 vs about $2.97 expected — a beat, and up from $2.37 the prior quarter.
• Margins: non-GAAP gross margin 50.4% and non-GAAP operating margin 36.6%, both sharply higher than a year ago.
• The scary-looking GAAP number: a reported net loss of $7.2 billion, or $(84.65) per share. This is not an operating collapse — it is a one-time, non-cash $7.8 billion charge from converting (equitizing) some of its convertible notes into stock. Strip that out and the business was solidly profitable.
• Guidance (next quarter, Q1 FY27): revenue of $1.225B–$1.275B and non-GAAP EPS of $4.05–$4.35 — above where the Street sat. Management said this reaches its target profit model more than a quarter early.
• Full year FY26: revenue $3.01B (vs $1.6B a year ago); $2.7B of cash on the balance sheet.

What an 8-K "Item 2.02" actually is

An 8-K is the form US-listed companies use to tell investors about a material event between their bigger quarterly and annual reports. Item 2.02, "Results of Operations and Financial Condition," is the specific box a company ticks when it is releasing earnings. The actual press release with the numbers is attached as an exhibit (EX-99.1). So when you see an 8-K with Item 2.02 hit the wire after the closing bell, that is a company officially publishing its quarterly results.

Why it matters

Lumentum makes lasers and optical components — the parts that turn electrical signals into light and back so information can travel through fiber at very high speed. As AI models get bigger, the bottleneck shifts from raw chips to how fast data can move between them, and inside data centers that increasingly means optics. Lumentum's results show that shift landing on its income statement: revenue doubling, margins widening, and guidance stepping up as cloud customers adopt higher-speed (1.6T) modules and newer switching technologies.

The one caveat worth understanding is that GAAP net loss. Debt "equitization" means the company let holders of its convertible bonds swap them for shares; accounting rules force a large non-cash charge through the income statement when that happens. It hits reported profit but does not drain cash from operations — which is exactly why the company also reports a "non-GAAP" figure that removes such one-offs. Reading past a headline loss to what actually happened is a core filing-literacy skill.

Beginner takeaway

Headline profit and "real" operating performance can point in opposite directions when a one-time, non-cash charge is involved. Here, a $7.2B GAAP loss sat right next to record revenue and a profit beat — because the loss was an accounting event, not a business one. Always check whether a big loss (or gain) came from operations or from a single item buried in the notes.

FAQ

Did Lumentum actually lose money this quarter? On an operating basis, no — it was profitable and beat estimates. The $7.2B GAAP loss came from a one-time, non-cash charge tied to converting bonds into stock, not from running the business.

What's the difference between GAAP and non-GAAP EPS? GAAP follows strict accounting rules and includes every charge, including one-offs. Non-GAAP strips out items management considers unusual (like that debt charge) to show underlying trend. Both are useful; neither is "the truth" on its own.

Why is AI driving an optics company? Training and running AI needs enormous data movement between chips and servers. Beyond a short distance, that data travels as light through fiber, and Lumentum supplies the lasers and modules that make that possible.

What is "guidance" and why did the stock story hinge on it? Guidance is the company's own forecast for the next quarter. Investors often react as much to guidance as to the reported quarter, because it signals where things are heading — and here it was raised above expectations.

As of August 11, 2026. Source: official SEC filing — read it directly here. We summarise filings for education and may make errors, so always verify against the official document. Educational content only — not investment advice, not a buy/sell recommendation.