LITELumentum

Technology · Communications Equipment · Nasdaq

Lumentum Holdings Inc. (“we,” “us,” “our”, “Lumentum” or the “Company”) is a global leader in optical and photonic technologies and an industry-leading provider of optical and photonic products based on revenue and market share. 10-K, Item 1

Employees: 13,757
Headquarters: San Jose, CA
CEO: Michael E. Hurlston
Next results: around Feb 2, 2027

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What the 10-K filed 2026-08-17 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-08-19.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

“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 summarized as follows:”
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“During fiscal years 2026, 2025 and 2024, net revenue from customers outside the United States, based on customer shipping location, represented 79.2%, 81.0% and 73.8% of net revenue, respectively.”
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“During fiscal years 2026, 2025, and 2024, a few customers generated more than 10% of total net revenue.”
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“As of June 27, 2026, our accounts receivable from a single customer, which represented 10% or greater of the total accounts receivable, was concentrated with two customers, which represented 30% and 11% of gross accounts receivable, respectively.”
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Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

“our reliance on a limited number of suppliers and customers;”
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“We purchase raw materials, packages and components from a limited number of suppliers, who are often small and specialized.”
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“Additionally, some of our suppliers are our sole sources for certain materials, equipment and components.”
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“Alternative sources to mitigate the risk that the failure of any sole supplier will adversely affect our business are not feasible in all circumstances.”
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Lawsuits and legal claims

Pending cases, settlements and what the company has set aside for them.

“We accrue for loss contingencies when it is both probable that we will incur the loss and when we can reasonably estimate the amount of the loss or range of loss.”
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“As of June 27, 2026, the accrual for expected settlement of litigation matters was not material.”
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Guarantees and indemnities

2 new

Promises to pay someone else's debts or losses if they cannot.

New “In accordance with a definitive merger agreement, dated as of October 29, 2023, between us and Cloud Light, cash consideration included $75.8 million of cash held in an escrow fund to support Cloud Light’s indemnification obligations and customary adjustment for working capital.”
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New “In November 2025, we and the former shareholders of Cloud Light mutually agreed to settle outstanding indemnification claims for $27.5 million and signed a settlement agreement releasing the balance of the escrow fund to the former Cloud Light shareholders and releasing them of their indemnification obligations.”
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“(2) We have reclassified a $21.4 million unrecognized tax position to other non-current liabilities during the year ended June 28, 2025 for an indemnification liability related to the sale of certain assets.”
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“We have reclassified a $21.4 million unrecognized tax position to other non-current liabilities in the consolidated balance sheets as of June 28, 2025 for an indemnification liability related to the sale of certain assets.”
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Debt covenants

2 new

Conditions in loan agreements that, if broken, can make debt due early.

New “The Credit Agreement contains customary representations, warranties, affirmative and negative covenants, and events of default.”
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New “In addition, the Credit Agreement contains financial covenants, tested at the end of each fiscal quarter, requiring us to maintain a secured net leverage ratio of less than or equal to 3.25:1.00, subject to a 0.50:1.00 step-up for four fiscal quarters in connection with a material acquisition, and an interest coverage ratio of no less than 3.00:1.00.”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

“Purchase obligations of $2.4 billion as of June 27, 2026 represent legally-binding commitments to purchase inventory and other commitments made in the normal course of business to meet operational requirements.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

Work on LITE in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/LITE/export.csv") into a cell.