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Tables in the 10-K of Lumentum Holdings Inc.
86 tables with numbers, filed Aug 17, 2026. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| TABLE OF CONTENTS | | | |
| Page | | |
| PART I | | | |
| ITEM 1. | BUSINESS | 2 |
| ITEM 1A. | RISK FACTORS | 9 |
| ITEM 1B. | UNRESOLVED STAFF COMMENTS | 37 |
| ITEM 1C. | CYBERSECURITY | 37 |
| ITEM 2. | PROPERTIES | 39 |
First 8 of 30 rows. The CSV has all of them.
Table 2 after “During fiscal years 2026, 2025, and 2024, net revenue from a single end customer which represented 10% or more of our total net revenue of t”
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| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Customer A | 26.6% | | 15.4% | | 18.9% |
| Customer B | 15.0% | | 16.0% | | 11.4% |
| Contract balances | Balance sheet location | June 27, 2026 | June 28, 2025 | | Change | Percentage Change | |
| Accounts receivable, net | Accounts receivable, net | $520.3 | | $250.0 | | $270.3 | 108.1% |
| Deferred revenue and customer deposits | Other current liabilities | $15.4 | | $0.7 | | $14.7 | n/a |
| Deferred revenue and customer deposits | Other non-current liabilities | $1.4 | | $— | | $1.4 | n/a |
Table 4 after “The following table summarizes selected consolidated statements of operations items as a percentage of net revenue:”
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| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Net revenue by type of products: | | | | | |
| Components | 66.5% | | 67.9% | | 60.5% |
| Systems | 33.5 | | 32.1 | | 39.5 |
| Net revenue | 100.0 | | 100.0 | | 100.0 |
| Cost of sales | 55.7 | | 67.0 | | 75.3 |
| Amortization of acquired developed intangibles | 2.6 | | 5.0 | | 6.2 |
First 8 of 25 rows. The CSV has all of them.
| 2026 | 2025 | | Change | Percentage Change | | 2025 | | 2024 | | Change | | Percentage Change | | | |
| Net revenue by type of products: | | | | | | | | | | | | | | | | |
| Components | $2,005.6 | $1,116.3 | | $889.3 | | 79.7% | | | $1,116.3 | | $822.1 | | $294.2 | | 35.8% | |
| Systems | 1,008.4 | 528.7 | | 479.7 | | 90.7% | | | 528.7 | | 537.1 | | (8.4) | | (1.6)% | |
| Net revenue | $3,014.0 | $1,645.0 | | $1,369.0 | | 83.2% | | | $1,645.0 | | $1,359.2 | | $285.8 | | 21.0% | |
| Gross profit | $1,255.9 | $459.9 | | $796.0 | | 173.1% | | | $459.9 | | $251.5 | | $208.4 | | 82.9% | |
| Gross margin | 41.7% | | 28.0% | | | | | | 28.0% | | | 18.5% | | | | |
| Research and development | $356.5 | $303.9 | | $52.6 | 17.3% | | | $303.9 | | $302.2 | | $1.7 | | 0.6% | | |
First 8 of 15 rows. The CSV has all of them.
Table 6 after “During our fiscal years 2026, 2025 and 2024, net revenue from a single end customer which represented 10% or greater of total net revenue is”
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| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Customer A | 26.6% | | 15.4% | | 18.9% |
| Customer B | 15.0% | | 16.0% | | 11.4% |
Table 7 after “(in millions, except percentage data):”
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| Years Ended | | | | | | | | | | | | |
| | June 27, 2026 | June 28, 2025 | June 29, 2024 | | | | | | | | | |
| Net revenue: | | | | | | | | | | | | | |
| Americas: | | | | | | | | | | | | | |
| United States | | | | $627.9 | 20.8% | | $312.3 | | 19.0% | | $356.1 | | 26.2% |
| Mexico | | | | 443.7 | 14.7 | | 148.5 | | 9.0 | | 91.7 | | 6.7 |
| Other Americas | | | | 13.2 | 0.4 | | 20.1 | | 1.2 | | 3.4 | | 0.3 |
| Total Americas | | | | $1,084.8 | 35.9% | | $480.9 | | 29.2% | | $451.2 | | 33.2% |
First 8 of 17 rows. The CSV has all of them.
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Interest expense | $21.8 | | $22.2 | | $33.8 |
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Foreign exchange (losses) gains, net | $(0.5) | | $(4.2) | | $0.8 |
| Interest and investment income | 60.2 | | 34.4 | | 61.3 |
| Inducement expense and others | (6.4) | | — | | — |
| Total other income, net | $53.3 | | $30.2 | | $62.1 |
| Years Ended | | | | |
| (in millions) | June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Income tax (benefit) provision | $(237.7) | | $(198.0) | | $140.8 |
| June 27, 2026 | June 28, 2025 | | | | |
| Carrying Amount | Estimated Fair Value | | Carrying Amount | Estimated Fair Value | |
| 2032 Notes | $1,256.1 | | $5,411.1 | | $— | $— |
| 2029 Notes | 54.7 | | 640.2 | | 600.2 | 925.5 |
| 2028 Notes | 179.1 | | 1,108.7 | | 857.7 | 890.2 |
| 2026 Notes | 54.7 | | 447.2 | | 1,048.3 | 1,233.3 |
| $1,544.6 | | $7,607.2 | | $2,506.2 | $3,049.0 |
| Conversion Price (1) | 130% of Conversion Price (1) | |
| 2032 Notes | $187.77 | | $244.10 |
| 2029 Notes | 69.54 | | 90.40 |
| 2028 Notes | 131.03 | | 170.34 |
| 2026 Notes | 99.29 | | 129.08 |
Table 13 after “The principal amount outstanding of our SMBC Term Loans and the Mizuho Term Loan, collectively referred to as Japan Term Loans, are as follo”
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| June 27, 2026 | June 28, 2025 | | | | | | | | |
| Short-term | Long-term | | Total | Short-term | Long-term | | Total | | |
| SMBC Term Loans | $46.8 | | $28.0 | | $74.8 | | $4.4 | | $36.2 | $40.6 |
| Mizuho Term Loan | 5.5 | | 12.5 | | 18.0 | | 6.2 | | 20.2 | 26.4 |
| Total | $52.3 | | $40.5 | | $92.8 | | $10.6 | | $56.4 | $67.0 |
| Payments due | | | | | |
| Total | Less than 1 year | | More than 1 year | | |
| Contractual Obligations | | | | | | |
| Asset retirement obligations | $9.0 | | $— | | | $9.0 |
| Operating lease liabilities, including imputed interest (1) | 36.0 | | 14.6 | | | 21.4 |
| Pension plan contributions (2) | 1.8 | | $1.8 | | | — |
| Purchase obligations (3) | 2,354.4 | | 2,112.5 | | | 241.9 |
| Term loans - principal (4) | 92.8 | | 52.3 | | 40.5 | |
First 8 of 13 rows. The CSV has all of them.
Table 15 after “(in millions, except per share data)”
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| Years Ended | | | | | |
| | June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Net revenue | | $3,014.0 | | $1,645.0 | | $1,359.2 |
| Cost of sales | | 1,680.5 | | 1,102.9 | | 1,023.8 |
| Amortization of acquired developed intangibles | | 77.6 | | 82.2 | | 83.9 |
| Gross profit | | 1,255.9 | | 459.9 | | 251.5 |
| Operating expenses: | | | | | | |
| Research and development | | 356.5 | | 303.9 | | 302.2 |
First 8 of 27 rows. The CSV has all of them.
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Net (loss) income | $(6,935.1) | | $25.9 | | $(546.5) |
| Other comprehensive (loss) income, net of tax: | | | | | |
| Net change in cumulative translation adjustment | (0.3) | | 0.1 | | (0.6) |
| Net change in unrealized gain on available-for-sale securities | (1.7) | | 1.9 | | 4.7 |
| Net change in defined benefit obligations | 3.0 | | (2.3) | | 1.1 |
| Other comprehensive income (loss), net of tax | 1.0 | | (0.3) | | 5.2 |
First 8 of 9 rows. The CSV has all of them.
Table 17 after “(in millions, except per share data)”
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| June 27, 2026 | June 28, 2025 | |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash equivalents | $2,043.5 | | $520.7 |
| Short-term investments | 694.9 | | 356.4 |
| Accounts receivable, net | 520.3 | | 250.0 |
| Inventories | 691.6 | | 470.1 |
| Prepayments and other current assets | 211.6 | | 120.1 |
First 8 of 39 rows. The CSV has all of them.
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| OPERATING ACTIVITIES: | | | | | |
| Net (loss) income | $(6,935.1) | | $25.9 | | $(546.5) |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | | | | | |
| Depreciation expense | 128.8 | | 104.3 | | 110.6 |
| Stock-based compensation | 170.2 | | 177.2 | | 128.8 |
| Bad debt expense | 0.1 | | 3.4 | | — |
First 8 of 46 rows. The CSV has all of them.
| Payment for 2032 capped call options | (102.0) | — | — |
| Principal payments on term loans | (14.0) | (8.1) | — |
| Payment of withholding taxes related to net share settlement of restricted stock units | (281.0) | (41.7) | (24.0) |
| Payment of acquisition related holdback | — | (1.0) | — |
| Payment for financing costs related to revolving credit facility | (2.4) | — | — |
| Net cash provided by (used in) financing activities | 1,556.9 | 41.8 | (332.7) |
| Increase (decrease) in cash and cash equivalents | 1,522.8 | 84.0 | (422.3) |
| Cash and cash equivalents at beginning of period | 520.7 | 436.7 | 859.0 |
First 8 of 20 rows. The CSV has all of them.
| Series A Convertible Preferred Stock | Common Stock | | Additional Paid-In Capital | | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Income | | | Total Stockholders’ Equity | | | | | | |
| Shares | Amount | | Shares | | Amount | | | | | | | | | | |
| Balance as of July 1, 2023 | — | | $— | | | 66.4 | | $0.1 | | $1,692.2 | | $(340.6) | | $4.1 | | $1,355.8 |
| Net loss | — | | — | | | — | | — | | — | | (546.5) | | — | | (546.5) |
| Other comprehensive income | — | | — | | | — | | — | | — | | — | | 5.2 | | 5.2 |
| Issuance of shares in connection with vesting of restricted stock units and performance stock units | — | | — | | | 1.5 | | — | | — | | — | | — | | — |
| Withholding taxes related to net share settlement of restricted stock units | — | | — | | | (0.4) | | — | | (24.0) | | — | | — | | (24.0) |
| ESPP shares issued | — | | — | | | 0.4 | | — | | 14.4 | | — | | — | | 14.4 |
First 8 of 29 rows. The CSV has all of them.
| 2032 capped call options, net of tax | — | — | — | — | (77.0) | — | — | (77.0) |
| Conversion of convertible notes for conversion value in excess of principal amount | — | — | 6.0 | — | (0.7) | — | — | (0.7) |
| Balance as of June 27, 2026 | 2.9 | $0.0 | 88.6 | $0.1 | $12,430.1 | $(7,796.3) | $10.0 | $4,643.9 |
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Basic (loss) income per share: | | | | | |
| Net (loss) income | $(6,935.1) | | $25.9 | | $(546.5) |
| Weighted average shares outstanding - basic: | | | | | |
| Common stock | 73.7 | | 69.0 | | 67.3 |
| Preferred stock | 0.9 | | — | | — |
| Weighted average shares outstanding - basic | 74.6 | | 69.0 | | 67.3 |
First 8 of 14 rows. The CSV has all of them.
| Years Ended | | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | | |
| Effect of dilutive securities from ESPP | 0.0 | 0.1 | | | 0.2 | |
| Effect of dilutive securities from stock options | 0.3 | | 0.8 | | | 1.1 |
| Effect of dilutive securities from RSUs and PSUs | 2.5 | | 4.4 | | | 4.1 |
| Shares issuable assuming conversion of the convertible notes | 13.6 | | 0.5 | | | 29.6 |
| Weighted average common shares outstanding - diluted | 16.4 | | 5.8 | | | 35.0 |
| Fair Value |
| Total purchase price consideration | $38.0 |
| Assets acquired | |
| Property, plant and equipment, net | 39.5 |
| Liabilities assumed | |
| Other liabilities (1) | 9.9 |
| Goodwill | $8.4 |
| Amortized Cost | Gross Unrealized Gains | | Gross Unrealized Losses | Fair Value | |
| June 27, 2026: | | | | | | |
| Cash | $635.9 | | $— | | $— | $635.9 |
| Cash equivalents: | | | | | | |
| Certificate of deposit | 131.8 | | — | | — | 131.8 |
| Commercial paper | 14.5 | | — | | — | 14.5 |
| Money market funds | 1,261.3 | | — | | — | 1,261.3 |
| Total cash and cash equivalents | $2,043.5 | | $— | | $— | $2,043.5 |
First 8 of 27 rows. The CSV has all of them.
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Foreign exchange (losses) gains, net | $(0.5) | | $(4.2) | | $0.8 |
| Interest and investment income | 60.2 | | 34.4 | | 61.3 |
| Other losses, net | (6.4) | | — | | — |
| Other income, net | $53.3 | | $30.2 | | $62.1 |
| Continuous Loss Position For Less Than 12 Months | Gross Unrealized Losses | | | |
| | Fair Value | Unrealized Losses | | |
| June 27, 2026: | | | | | |
| U.S. Agency securities | | $130.5 | | $(0.4) | $(0.4) |
| Commercial paper | | 69.0 | | (0.1) | (0.1) |
| Corporate debt securities | | 275.8 | | (1.2) | (1.2) |
| U.S. government bonds | | 106.9 | | (0.3) | (0.3) |
| Total | | $582.2 | | $(2.0) | $(2.0) |
First 8 of 14 rows. The CSV has all of them.
| June 27, 2026 | June 28, 2025 | | | | |
| Amortized Cost | Fair Value | | Amortized Cost | Fair Value | |
| Due within 1 year | $247.9 | | $247.8 | | $139.9 | $140.0 |
| Due between 1 year to 5 years | 448.9 | | 447.1 | | 216.1 | 216.4 |
| $696.8 | | $694.9 | | $356.0 | $356.4 |
| Level 1 | Level 2 | | Level 3 | Total | |
| June 27, 2026 (1) | | | | | | |
| Assets: | | | | | | |
| Cash equivalents: | | | | | | |
| Certificate of deposit | $131.8 | | $— | | $— | $131.8 |
| Commercial paper | — | | 14.5 | | — | 14.5 |
| Money market funds | 1,261.3 | | — | | — | 1,261.3 |
| Short-term investments: | | | | | | |
First 8 of 14 rows. The CSV has all of them.
Table 30 after “million in cash held in our bank accounts as of June 27, 2026.”
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| Level 1 | Level 2 | | Level 3 | Total | |
| June 28, 2025 (1) | | | | | | |
| Assets: | | | | | | |
| Cash equivalents: | | | | | | |
| Commercial paper | $— | | $2.5 | | $— | $2.5 |
| Money market funds | 161.7 | | $— | | $— | 161.7 |
| U.S. Treasury securities | 7.0 | | — | | — | 7.0 |
| Short-term investments: | | | | | | |
First 8 of 13 rows. The CSV has all of them.
| June 27, 2026 | June 28, 2025 | | | | |
| Carrying Amount | Estimated Fair Value | | Carrying Amount | Estimated Fair Value | |
| 2032 Notes | $1,256.1 | | $5,411.1 | | $— | $— |
| 2029 Notes | 54.7 | | 640.2 | | 600.2 | 925.5 |
| 2028 Notes | 179.1 | | 1,108.7 | | 857.7 | 890.2 |
| 2026 Notes | 54.7 | | 447.2 | | 1,048.3 | 1,233.3 |
| $1,544.6 | | $7,607.2 | | $2,506.2 | $3,049.0 |
| June 27, 2026 | June 28, 2025 | |
| Raw materials and purchased parts | $370.2 | | $253.2 |
| Work in process | 232.4 | | 159.1 |
| Finished goods | 89.0 | | 57.8 |
| Inventories | $691.6 | | $470.1 |
| June 27, 2026 | June 28, 2025 | |
| Land | $92.1 | | $108.6 |
| Buildings and improvement | 295.3 | | 270.4 |
| Machinery and equipment | 1,141.6 | | 848.8 |
| Computer equipment and software | 42.1 | | 39.1 |
| Furniture and fixtures | 13.1 | | 14.7 |
| Leasehold improvements | 53.1 | | 45.9 |
| Construction in progress | 377.4 | | 152.3 |
First 8 of 11 rows. The CSV has all of them.
| June 27, 2026 | June 28, 2025 | |
| Operating lease right-of-use assets | $59.3 | | $54.4 |
| Less: accumulated amortization | (30.1) | | (26.5) |
| Operating lease right-of-use assets, net | $29.2 | | $27.9 |
| June 27, 2026 | June 28, 2025 | |
| Restructuring and related accrual (1) | $2.4 | | $2.5 |
| Warranty reserve (2) | 24.7 | | 14.4 |
| Deferred revenue and customer deposits (4) | 15.4 | | 0.7 |
| Income tax payable (3) | 38.3 | | 29.1 |
| Other current liabilities | 10.7 | | 6.4 |
| Other current liabilities | $91.5 | | $53.1 |
| June 27, 2026 | June 28, 2025 | |
| Asset retirement obligation | $9.0 | | $7.1 |
| Pension and related accrual (1) | 7.2 | | 9.7 |
| Unrecognized tax benefit (2) | 67.2 | | 55.6 |
| Other non-current liabilities (2) | 31.8 | | 25.4 |
| Other non-current liabilities | $115.2 | | $97.8 |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Operating lease cost | $13.4 | | $13.3 | | $16.8 |
| Short-term and variable lease cost | 3.7 | | 3.5 | | 4.6 |
| Sublease income | (0.8) | | (0.8) | | (2.0) |
| Total lease cost | $16.3 | | $16.0 | | $19.4 |
| Weighted average remaining lease term (in years): | | | | | |
| Operating leases | 2.9 | 3.3 | | 5.2 | |
| Weighted average discount rate (in percentages): | | | | | |
First 8 of 9 rows. The CSV has all of them.
| Fiscal Years | Operating Leases (1) |
| 2027 | $14.6 |
| 2028 | 11.1 |
| 2029 | 7.6 |
| 2030 | 1.5 |
| 2031 | 0.7 |
| Thereafter | 0.5 |
| Total minimum lease payments | 36.0 |
First 8 of 10 rows. The CSV has all of them.
| Amount |
| Balances as of June 29, 2024 | $1,055.8 |
| Acquisition of Cloud Light (1) | 5.1 |
| Balances as of June 28, 2025 | $1,060.9 |
| Acquisition of a business (2) | $8.4 |
| Balances as of June 27, 2026 | $1,069.3 |
| June 27, 2026 | Gross Carrying Amounts | Accumulated Amortization | | Net Carrying Amounts | Weighted average remaining amortization period (years) | |
| Acquired developed technologies | $828.4 | | $(638.7) | | $189.7 | 3.5 |
| Customer relationships | 419.5 | | (282.3) | | 137.2 | 3.4 |
| Order backlog | 14.0 | | (14.0) | | — | — |
| Trade name and trademarks | 3.0 | | (3.0) | | — | — |
| Total intangible assets | $1,264.9 | | $(938.0) | | $326.9 | |
Table 41 after “of operations during the year ended June 27, 2026.”
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| June 28, 2025 | Gross Carrying Amounts | Accumulated Amortization | | Net Carrying Amounts | Weighted average remaining amortization period (years) | |
| Acquired developed technologies | $822.4 | | $(559.0) | | $263.4 | 4.1 |
| Customer relationships | 419.8 | | (226.6) | | 193.2 | 4.1 |
| In-process research and development | 8.5 | | — | | 8.5 | n/a |
| Order backlog | 14.0 | | (14.0) | | — | — |
| Trade name and trademarks | 3.0 | | (3.0) | | — | — |
| Total intangible assets | $1,267.7 | | $(802.6) | | $465.1 | |
| Years ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Cost of sales | $77.6 | | $82.2 | | $83.9 |
| Selling, general and administrative | 56.4 | | 65.9 | | 65.2 |
| Research and development | 1.7 | | 1.6 | | 1.5 |
| Total amortization of intangibles | $135.7 | | $149.7 | | $150.6 |
| Fiscal Years | |
| 2027 | $123.5 |
| 2028 | 83.0 |
| 2029 | 52.6 |
| 2030 | 46.5 |
| 2031 | 20.0 |
| Thereafter | 1.3 |
| Total | $326.9 |
Table 44 after “Our debt consists of the following:”
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| June 27, 2026 | June 28, 2025 | | | | | | | | |
| Short-term | Long-term | | Total | Short-term | Long-term | | Total | | |
| Convertible notes (1) | $1,544.6 | | $— | | $1,544.6 | | $— | | $2,506.2 | $2,506.2 |
| Term loans | 52.3 | | 40.5 | | 92.8 | | 10.6 | | 56.4 | 67.0 |
| Total | $1,596.9 | | $40.5 | | $1,637.4 | | $10.6 | | $2,562.6 | $2,573.2 |
| Conversion Price | 130% of Conversion Price | |
| 2032 Notes | $187.77 | | $244.10 |
| 2029 Notes | 69.54 | | 90.40 |
| 2028 Notes | 131.03 | | 170.34 |
| 2026 Notes | 99.29 | | 129.08 |
| June 28, 2025 | Debt Issuance (1) | | Debt Conversions (2) | Debt Equitizations (3) | Debt Inducement (4) | | June 27, 2026 | | |
| 2026 Notes | $1,050.0 | | $— | | $(149.3) | | $(264.8) | | $(581.1) | $54.8 |
| 2028 Notes | 861.0 | | — | | (31.0) | | (650.4) | | — | 179.6 |
| 2029 Notes | 603.7 | | — | | (339.1) | | (209.7) | | — | 54.9 |
| 2032 Notes | — | | 1,265.0 | | — | | — | | — | 1,265.0 |
| $2,514.7 | | $1,265.0 | | $(519.4) | | $(1,124.9) | | $(581.1) | $1,554.3 |
| June 27, 2026 | 2026 Notes | 2028 Notes | | 2029 Notes | 2032 Notes | Total | | |
| Principal | $54.8 | | $179.6 | | $54.9 | | $1,265.0 | $1,554.3 |
| Unamortized debt discount and debt issuance costs | (0.1) | | (0.5) | | (0.2) | | (8.9) | (9.7) |
| Net carrying amount of the liability component | $54.7 | | $179.1 | | $54.7 | | $1,256.1 | $1,544.6 |
| June 28, 2025 | 2026 Notes | 2028 Notes | | 2029 Notes | 2032 Notes | Total | | |
| Principal | $1,050.0 | | $861.0 | | $603.7 | | $— | $2,514.7 |
| Unamortized debt discount and debt issuance costs | (1.7) | | (3.3) | | (3.5) | | — | $(8.5) |
| Net carrying amount of the liability component | $1,048.3 | | $857.7 | | $600.2 | | $— | $2,506.2 |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Contractual interest expense | $16.9 | | $18.6 | | $19.2 |
| Amortization of the debt discount and debt issuance costs | 3.5 | | 3.0 | | 14.6 |
| Total interest expense | $20.4 | | $21.6 | | $33.8 |
| Fiscal Years | 2026 Notes | 2028 Notes | | 2029 Notes | | 2032 Notes | Total | | | |
| 2027 | $54.8 | | $0.3 | | | $0.4 | | $4.7 | | $60.2 |
| 2028 | — | | 179.9 | | 0.4 | | 4.8 | | 185.1 | |
| 2029 | — | | — | | | 0.5 | | 4.7 | | 5.2 |
| 2030 | — | | — | | | 55.1 | | 4.8 | | 59.9 |
| 2031 | — | | — | | | — | | 4.7 | | 4.7 |
| Thereafter | — | | — | | | — | | 1,269.8 | | 1,269.8 |
| Total payments | $54.8 | | $180.2 | | | $56.4 | | $1,293.5 | | $1,584.9 |
| Foreign currency translation adjustments, net of tax (1) | Defined benefit obligations, net of tax (2) | | Unrealized gain (loss) on available-for-sale securities, net of tax (3) | Total | |
| Balances as of July 1, 2023 | $10.4 | | $(0.4) | | $(5.9) | $4.1 |
| Other comprehensive income (loss) | (0.6) | | 1.1 | | 4.7 | 5.2 |
| Balances as of June 29, 2024 | $9.8 | | $0.7 | | $(1.2) | $9.3 |
| Other comprehensive income (loss) | 0.1 | | (2.3) | | 1.9 | (0.3) |
| Balances as of June 28, 2025 | $9.9 | | $(1.6) | | $0.7 | $9.0 |
| Other comprehensive income (loss) | (0.3) | | 3.0 | | (1.7) | 1.0 |
| Balances as of June 27, 2026 | $9.6 | | $1.4 | | $(1.0) | $10.0 |
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Balance as of beginning of period | $2.5 | | $11.1 | | $5.0 |
| Charges | 11.4 | | 22.8 | | 72.6 |
| Payments and other adjustments | (11.5) | | (31.4) | | (66.5) |
| Balance as of end of period | $2.4 | | $2.5 | | $11.1 |
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Domestic | $(8,018.7) | | $(174.4) | | $(219.6) |
| Foreign | 845.9 | | 2.3 | | (186.1) |
| Loss before income taxes | $(7,172.8) | | $(172.1) | | $(405.7) |
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Federal: | | | | | |
| Current | $0.2 | | $(8.4) | | $(10.6) |
| Deferred | (226.9) | | — | | 124.0 |
| (226.7) | | (8.4) | | 113.4 |
| State: | | | | | |
| Current | 1.4 | | 1.8 | | 1.3 |
First 8 of 15 rows. The CSV has all of them.
| Year Ended June 27, 2026 | | |
| Amount | Percentage | |
| Income tax benefit computed at U.S. federal statutory rate | $(1,506.3) | | 21.0% |
| State and local income tax, net of federal income tax effect (1) | (70.3) | | 1.0 |
| Foreign tax effects | | | |
| Switzerland | | | |
| Income not subject to local corporate income tax | (138.1) | | 1.9 |
| Other | (2.2) | | 0.0 |
First 8 of 20 rows. The CSV has all of them.
| Years Ended | | |
| June 28, 2025 | June 29, 2024 | |
| Income tax provision computed at federal statutory rate | $(36.1) | | $(85.2) |
| Foreign rate differential | (49.9) | | 58.9 |
| Change in valuation allowance | (161.5) | | 150.1 |
| Tax credits | (2.2) | | (1.8) |
| Stock-based compensation | 22.3 | | 17.8 |
| Permanent items | 0.3 | | (3.2) |
First 8 of 18 rows. The CSV has all of them.
| Years Ended | | |
| June 27, 2026 | June 28, 2025 | |
| Gross deferred tax assets: | | | |
| Intangibles | $22.8 | | $20.3 |
| Tax credit carryforwards | 149.1 | | 143.2 |
| Net operating loss carryforwards | 187.4 | | 232.1 |
| Inventories | 9.8 | | 14.9 |
| Accruals and reserves | 42.7 | | 28.1 |
First 8 of 25 rows. The CSV has all of them.
| Balance as of July 1, 2023 | $113.9 |
| Increases based on tax positions related to prior year | 19.6 |
| Decreases based on tax positions related to prior year | (9.4) |
| Decreases related to Statute of Limitations | (24.8) |
| Additions based on tax positions related to current year | 7.3 |
| Increases due to acquisition | 9.1 |
| Balance as of June 29, 2024 | $115.7 |
| Increases based on tax positions related to prior year | 10.4 |
First 8 of 21 rows. The CSV has all of them.
Table 59 after “The amounts of cash income taxes paid by us were as follows (in millions):”
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| Year Ended |
| June 27, 2026 |
| Federal | $12.3 |
| State and Local | 1.2 |
| Foreign | |
| Thailand | 12.2 |
| Switzerland | 11.0 |
| Japan | 4.6 |
First 8 of 11 rows. The CSV has all of them.
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Cost of sales | $39.5 | | $36.9 | | $31.7 |
| Research and development | 38.8 | | 43.3 | | 38.1 |
| Selling, general and administrative | 91.9 | | 97.0 | | 59.0 |
| Total stock-based compensation | $170.2 | | $177.2 | | $128.8 |
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| RSUs | $106.5 | | $101.8 | | $114.3 |
| AIP PSUs | 4.8 | | 29.8 | | 0.8 |
| TSR PSUs | 17.1 | | 3.2 | | — |
| Other PSUs | 26.1 | | 31.6 | | 5.8 |
| Total PSUs | 48.0 | | 64.6 | | 6.6 |
| Options | 4.6 | | 6.1 | | 3.3 |
First 8 of 12 rows. The CSV has all of them.
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Income tax benefit associated with stock-based compensation | $72.1 | | $2.5 | | $7.5 |
Table 63 after “The table below summarizes the unrecognized stock-based compensation cost related to unvested shares and the weighted-average period over wh”
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| Unrecognized stock-based compensation (in millions) | Weighted-average period(in years) | |
| RSUs | $167.7 | | 1.7 |
| PSUs | 72.8 | | 2.0 |
| Stock options | 1.4 | | 0.4 |
| ESPP | 4.0 | | 0.4 |
| Stock Options | Restricted Stock Units | | | Performance Stock Units | | | | | |
| Number of Shares | Weighted-Average Exercise Price per Share | | Number of Shares | Weighted-Average Grant Date Fair Value per Share | | Number of Shares | Weighted-Average Grant Date Fair Value per Share | | |
| Balance as of July 1, 2023 | — | | $— | | 2.6 | $85.0 | | | 0.6 | $89.1 |
| Replacement Awards Issued | 1.1 | | $8.0 | | — | — | | | — | — |
| Granted | — | | — | | 2.0 | 52.2 | | | 0.7 | 52.8 |
| Vested/Exercised | — | | 8.2 | | (1.3) | 85.7 | | | (0.1) | 87.7 |
| Canceled/Forfeited | — | | — | | (0.6) | 68.7 | | | (0.3) | 78.7 |
| Balance as of June 29, 2024 | 1.1 | | $8.0 | | 2.7 | $62.5 | | | 0.9 | $65.5 |
First 8 of 16 rows. The CSV has all of them.
| Awards Available for Grant |
| Balance as of July 1, 2023 | 2.7 |
| Authorized in connection with Cloud Light acquisition | 1.5 |
| Replacement options in connection with Cloud Light acquisition | (1.1) |
| Authorized | 3.0 |
| Granted | (2.7) |
| Canceled/Forfeited | 0.9 |
| Balance as of June 29, 2024 | 4.3 |
First 8 of 17 rows. The CSV has all of them.
Table 66 after “The assumptions used to estimate the fair value of the ESPP shares during the periods presented were as follows:”
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| June 27, 2026 | June 28, 2025 | |
| Expected term (years) | 0.5 | 0.5 | |
| Expected volatility | 69.4% | | 69.8% |
| Risk-free interest rate | 3.67% | | 4.22% |
| Dividend yield | —% | | —% |
| June 27, 2026 | June 28, 2025 | |
| Change in projected benefit obligation: | | | |
| Benefit obligation at beginning of year | $29.6 | | $24.5 |
| Service cost | 2.3 | | 1.7 |
| Interest cost | 0.4 | | 0.5 |
| Plan participants’ contributions | 0.1 | | 0.8 |
| Actuarial (gains) losses (1) | (0.9) | | 3.0 |
| Curtailments | (1.0) | | — |
First 8 of 31 rows. The CSV has all of them.
| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Service cost | $2.3 | | $1.7 | | $1.9 |
| Interest cost | 0.4 | | 0.5 | | 0.4 |
| Amortization of prior service cost | (0.1) | | (0.1) | | (0.1) |
| Expected return on plan assets | (0.5) | | (0.5) | | (0.4) |
| Curtailment gain | (0.1) | | — | | — |
| Amortization of net loss | 0.1 | | — | | — |
First 8 of 10 rows. The CSV has all of them.
Table 69 after “The following table summarizes the weighted-average assumptions used to determine net periodic cost and benefit obligation for our defined b”
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| Years Ended | | |
| June 27, 2026 | June 28, 2025 | |
| Assumptions used to determine net periodic cost: | | | |
| Discount rate | 1.6% | | 2.0% |
| Expected long-term return on plan assets | 3.0% | | 3.0% |
| Salary increase rate | 3.9% | | 3.9% |
| Assumptions used to determine benefit obligation at end of year: | | | |
| Discount rate | 1.7% | | 1.3% |
First 8 of 9 rows. The CSV has all of them.
| | | | Fair value measurement as of June 27, 2026 | | | | |
| Target allocation | Total | Percentage of plan asset | Quoted prices in active markets for identical assets (Level 1) | | Significant other observable inputs (Level 2) | | |
| Assets: | | | | | | | | |
| Global equity | 37% | | $6.5 | | 37% | | $— | $6.5 |
| Fixed income | 25% | | 4.2 | | 24% | | — | 4.2 |
| Alternative investment | 14% | | 2.3 | | 13% | | — | 2.3 |
| Cash | 1% | | 0.3 | | 2% | | 0.3 | — |
| Other assets | 23% | | 4.2 | | 24% | | — | 4.2 |
First 8 of 9 rows. The CSV has all of them.
| | | | | Fair value measurement as of June 28, 2025 | | | | |
| Target allocation | Total | | Percentage of plan asset | | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | | |
| Assets: | | | | | | | | | |
| Global equity | 35% | | $6.5 | | | 34% | | $— | $6.5 |
| Fixed income | 27% | | 5.1 | | | 27% | | — | 5.1 |
| Alternative investment | 14% | | 2.7 | | | 14% | | — | 2.7 |
| Cash | 1% | | 0.2 | | | 1% | | 0.2 | — |
| Other assets | 23% | | 4.6 | | | 24% | | — | 4.6 |
First 8 of 9 rows. The CSV has all of them.
| Fiscal Years | Total |
| 2027 | $2.1 |
| 2028 | 1.7 |
| 2029 | 1.6 |
| 2030 | 1.8 |
| 2031 | 2.5 |
| Next five years | 14.5 |
| Total expected benefit payments | $24.2 |
| Years Ended | | |
| June 27, 2026 | June 28, 2025 | |
| Balance as of beginning of period | $14.4 | | $13.2 |
| Warranties assumed in Cloud Light acquisition | — | | 0.8 |
| Provision for warranty | 25.9 | | 10.2 |
| Utilization of reserve | (15.6) | | (9.8) |
| Balance as of end of period | $24.7 | | $14.4 |
Table 74 after “(in millions, except percentage data):”
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| Years Ended | | | | | | | | | | | | |
| | June 27, 2026 | June 28, 2025 | June 29, 2024 | | | | | | | | | |
| | | | Amount | % to Total | | Amount | % to Total | Amount | | % to Total | | |
| Net revenue: | | | | | | | | | | | | | |
| Americas: | | | | | | | | | | | | | |
| United States | | | | $627.9 | | 20.8% | | $312.3 | | 19.0% | | $356.1 | 26.2% |
| Mexico | | | | 443.7 | | 14.7 | | 148.5 | | 9.0 | | 91.7 | 6.7 |
| Other Americas | | | | 13.2 | | 0.4 | | 20.1 | | 1.2 | | 3.4 | 0.3 |
First 8 of 18 rows. The CSV has all of them.
Table 75 after “During the years ended June 27, 2026, June 28, 2025, and June 29, 2024, net revenue from a single end customer which represented 10% or grea”
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| Years Ended | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | |
| Customer A | 26.6% | | 15.4% | | 18.9% |
| Customer B | 15.0% | | 16.0% | | 11.4% |
Table 76 after “The following table sets forth accounts receivable from a single customer that represented 10% or greater of the total accounts receivable f”
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| June 27, 2026 | June 28, 2025 | |
| Customer 1 | 30.4% | | 13.2% |
| Customer 2 | 10.7% | | 11.0% |
| June 27, 2026 | June 28, 2025 | |
| Property, plant and equipment, net | | | |
| United States | $153.0 | | $123.0 |
| Thailand | 450.6 | | 218.6 |
| Japan | 232.1 | | 144.3 |
| United Kingdom | 139.1 | | 109.4 |
| China | 129.9 | | 76.8 |
| Other countries | 54.4 | | 54.3 |
First 8 of 9 rows. The CSV has all of them.
Table 78 after “We purchase a portion of our inventory from contract manufacturers and vendors located primarily in Thailand, Taiwan and Malaysia. The follo”
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| June 27, 2026 | June 28, 2025 | |
| Contract Manufacturer A | 18.2% | | 25.1% |
| Years Ended | | | | | | | | | |
| June 27, 2026 | June 28, 2025 | | June 29, 2024 | | | | | | |
| Amount | % to Total | | Amount | % to Total | Amount | | % to Total | | |
| Components | $2,005.6 | | 66.5% | | $1,116.3 | | 67.9% | | $822.1 | 60.5% |
| Systems | 1,008.4 | | 33.5% | | 528.7 | | 32.1% | | 537.1 | 39.5% |
| Net revenue | $3,014.0 | | 100.0% | | $1,645.0 | | 100.0% | | $1,359.2 | 100.0% |
| Contract balances | Balance sheet location | June 27, 2026 | June 28, 2025 | | Change | Percentage Change | |
| Accounts receivable, net | Accounts receivable, net | $520.3 | | $250.0 | | $270.3 | 108.1% |
| Deferred revenue and customer deposits (1) | Other current liabilities | $15.4 | | $0.7 | | $14.7 | n/a |
| Deferred revenue and customer deposits | Other non-current liabilities | $1.4 | | $— | | $1.4 | n/a |
Table 81 after “The financial statements filed as part of this Annual Report are listed in the section titled “Financial Statements and Supplementary Data” ”
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| Page |
| Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34) | 61 |
| Consolidated Statements of Operations—Years Ended June 27, 2026, June 28, 2025 and June 29, 2024 | 63 |
| Consolidated Statements of Comprehensive Income (Loss)—Years Ended June 27, 2026, June 28, 2025 and June 29, 2024 | 64 |
| Consolidated Balance Sheets—June 27, 2026 and June 28, 2025 | 65 |
| Consolidated Statements of Cash Flows—Years Ended June 27, 2026, June 28, 2025 and June 29, 2024 | 66 |
| Consolidated Statements of Stockholders’ Equity—Years Ended June 27, 2026, June 28, 2025 and June 29, 2024 | 68 |
| Notes to Consolidated Financial Statements | 70 |
Table 82 after “SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS”
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| (in millions) | | | | | | |
| Balance at beginning of period | Increase (decrease) in Consolidated Statements of Operations | | Write-offs and other adjustments | | Balance at end of period | |
| Allowance for credit losses: | | | | | | | |
| Fiscal year ended June 27, 2026 | $3.5 | | $0.1 | | $(0.1) | | $3.5 |
| Fiscal year ended June 28, 2025 | $0.2 | | $3.4 | | $(0.1) | | $3.5 |
| Fiscal year ended June 29, 2024 | $— | | $0.2 | | $— | | $0.2 |
Table 83 after “SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS”
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| (in millions) | | | | | |
| Balance at beginning of period | Additions charged to costs/expenses (1) | | Deductions credited to costs/expenses (2) | Balance at end of period | |
| Deferred tax valuation allowance: | | | | | | |
| Fiscal year ended June 27, 2026 | $440.8 | | $21.9 | | $(273.7) | $189.0 |
| Fiscal year ended June 28, 2025 | $490.4 | | $128.6 | | $(178.2) | $440.8 |
| Fiscal year ended June 29, 2024 | $303.4 | | $205.4 | | $(18.4) | $490.4 |
Table 84 after “The following exhibits are filed herewith or are incorporated by reference to exhibits previously filed with the Securities and Exchange Com”
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| | Incorporated by Reference | | | Filed |
| Exhibit No. | Exhibit Description | Form | Exhibit | Filing Date | Herewith |
| 2.1 | Contribution Agreement | 8-K | 2.1 | 8/6/2015 | |
| 2.2 | Separation and Distribution Agreement | 8-K | 2.2 | 8/6/2015 | |
| 2.3 | Agreement and Plan of Merger, dated as of October 29, 2023, by and among Lumentum Holdings Inc., Cloud Light, and Crius Merger Sub, Inc. | 8-K | 2.1 | 10/30/2023 | |
| 3.1 | Amended and Restated Certificate of Incorporation | 8-K | 3.1 | 8/6/2015 | |
| 3.2 | Amended and Restated Bylaws | 8-K | 3.2 | 8/6/2015 | |
| 3.3 | Certificate of Designation | 8-K | 3.1 | 3/2/2026 | |
First 8 of 28 rows. The CSV has all of them.
| 10.11* | Transition Agreement entered into by Lumentum Holdings Inc. with Alan Lowe, dated February 2, 2025 | 8-K | 10.2 | 2/3/2025 | |
| 10.12* | Global Performance Unit Award Agreement | 10-Q | 10.1 | 5/9/2023 | |
| 10.13* | Global Restricted Stock Unit Award Agreement | 10-Q | 10.2 | 5/9/2023 | |
| 10.14* | 2025 Inducement Equity Incentive Plan | S-8 | 4.3 | 2/6/2025 | |
| 10.15* | Form of Restricted Stock Unit Agreement under 2025 Inducement Equity Incentive Plan | S-8 | 4.4 | 2/6/2025 | |
| 10.16* | Form of Performance Stock Unit Agreement under 2025 Inducement Equity Incentive Plan | S-8 | 4.5 | 2/6/2025 | |
| 10.17 | Form of Capped Call Confirmation | 8-K | 10.1 | 9/8/2025 | |
| 10.18* | Lumentum Holdings Inc. 2025 Equity Incentive Plan | S-8 | 4.3 | 11/19/2025 | |
First 8 of 20 rows. The CSV has all of them.
| Signature | Title | Date |
| /s/ MICHAEL HURLSTON | President, Chief Executive Officer and Director (principal executive officer) | August 17, 2026 |
| Michael Hurlston | | |
| /s/ WAJID ALI | Executive Vice President, Chief Financial Officer (principal financial officer) | August 17, 2026 |
| Wajid Ali | | |
| /s/ ERIC CHANG | Chief Accounting Officer (principal accounting officer) | August 17, 2026 |
| Eric Chang | | |
| /s/ PAUL LUNDSTROM | Director | August 17, 2026 |
First 8 of 23 rows. The CSV has all of them.