Global Finance News
12 Dec 2025, 06:18
Ciena said fiscal Q4 2025 and full-year 2025 results reflected strong demand for high-speed connectivity, positioning the company to benefit from expanding opportunities tied to cloud, service provider, and data-center/A I-related networking spend.
For fiscal Q4 (ended November 1, 2025), revenue rose 20% year over year to $1.35 billion. Gross margin improved to 42.7% on a GAAP basis (43.4% non-GAAP), while GAAP operating margin fell to 0.8% due to a sharp increase in operating expenses that included significant asset impairments and restructuring costs. GAAP diluted EPS was $0.13, while adjusted diluted EPS was $0.91. Adjusted EBITDA increased to $205.5 million, up from $136.7 million a year earlier.
For fiscal year 2025, revenue increased 19% to $4.77 billion. GAAP diluted EPS was $0.85 and adjusted diluted EPS was $2.64. Adjusted EBITDA rose to $636.7 million, versus $481.0 million in fiscal 2024, reflecting operating leverage despite higher expense levels.
By segment, Networking Platforms remained the core driver, representing about 77% of revenue in both the quarter and the year. Optical Networking was the largest component (about 69% of Q4 revenue; 68% of full-year revenue). Global Services contributed about 13% of revenue in Q4 and the full year, while Platform Software and Services and Blue Planet contributed smaller but meaningful shares.
Ciena guided to fiscal Q1 2026 revenue of $1.35 billion to $1.43 billion, with adjusted gross margin of 43% to 44%, adjusted operating expense of about $380 million, and adjusted operating margin of 15.5% to 16.5%. For fiscal year 2026, the company guided to revenue of $5.7 billion to $6.1 billion, adjusted gross margin of 43% plus or minus 1%, adjusted operating expense of about $1.52 billion, and adjusted operating margin of 17% plus or minus 1%.
For fiscal Q4 (ended November 1, 2025), revenue rose 20% year over year to $1.35 billion. Gross margin improved to 42.7% on a GAAP basis (43.4% non-GAAP), while GAAP operating margin fell to 0.8% due to a sharp increase in operating expenses that included significant asset impairments and restructuring costs. GAAP diluted EPS was $0.13, while adjusted diluted EPS was $0.91. Adjusted EBITDA increased to $205.5 million, up from $136.7 million a year earlier.
For fiscal year 2025, revenue increased 19% to $4.77 billion. GAAP diluted EPS was $0.85 and adjusted diluted EPS was $2.64. Adjusted EBITDA rose to $636.7 million, versus $481.0 million in fiscal 2024, reflecting operating leverage despite higher expense levels.
By segment, Networking Platforms remained the core driver, representing about 77% of revenue in both the quarter and the year. Optical Networking was the largest component (about 69% of Q4 revenue; 68% of full-year revenue). Global Services contributed about 13% of revenue in Q4 and the full year, while Platform Software and Services and Blue Planet contributed smaller but meaningful shares.
Ciena guided to fiscal Q1 2026 revenue of $1.35 billion to $1.43 billion, with adjusted gross margin of 43% to 44%, adjusted operating expense of about $380 million, and adjusted operating margin of 15.5% to 16.5%. For fiscal year 2026, the company guided to revenue of $5.7 billion to $6.1 billion, adjusted gross margin of 43% plus or minus 1%, adjusted operating expense of about $1.52 billion, and adjusted operating margin of 17% plus or minus 1%.
