Financial Data and Key Metrics Changes - Non-GAAP revenue for Q4 2021 was $401 million, a 13% year-over-year increase, exceeding the high end of the outlook range [9][31] - Gross margin for Q4 was 37.2%, benefiting from higher volumes and the ramp of ICE6, despite being impacted by elevated supply chain costs [32] - Operating profit for Q4 was $17.1 million, resulting in an operating margin of 4.3%, which was at the high end of the outlook range [33] - For the full year 2021, revenue was $1.43 billion, up 5% year-over-year, with gross margin expanding by 380 basis points [36][37] Business Line Data and Key Metrics Changes - Product revenue grew by 19% in Q4, primarily driven by the growth in 800-gig ICE6 solutions [31] - The company exited 2021 with over 30 ICE6 customers and a healthy pipeline, aiming to ramp ICE6 revenue to 20% to 25% of product revenue in 2022 [15][19] - Line system bookings grew by 100% year-over-year, driven by ICE6 deployments [15] Market Data and Key Metrics Changes - 58% of Q4 revenue came from international customers, down from 64% in the previous year [31] - The company reported a record backlog, up 100% year-over-year, providing greater demand visibility for 2022 [11][36] Company Strategy and Development Direction - The company is focused on vertical integration to gain greater control over its supply chain and improve margins [19] - The strategic goal for 2022 is to achieve revenue growth of 8% to 12% and expand gross margins by 300 to 400 basis points [23][44] - The company is investing in R&D and sales to capitalize on market opportunities, particularly in the 800-gig segment [42][88] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing supply chain challenges but expects some relief in the second half of 2022 [19][38] - The demand drivers for 2022 include a healthy global service provider CapEx environment, robust 800-gig cycle, and increased competitive opportunities to displace Huawei infrastructure [20][22] - Management expressed confidence in achieving the target business model in 2023, with expectations for continued growth [23][44] Other Important Information - The company announced the appointment of Roop Lakkaraju to the Board of Directors and thanked departing board members for their service [25][26] - The company plans to make several portfolio announcements at the upcoming OFC event in March 2022 [24] Q&A Session Summary Question: Customer concentration regarding 800-gig - Management indicated that customer concentration is broad, with no single customer contributing more than 10% of revenue [49] Question: Pricing environment and competitive pricing - Management noted that while some competitors are raising prices, the company aims to provide value through innovation and cost efficiency [55][56] Question: Backlog dollar value - Management did not disclose specific backlog numbers but confirmed a book-to-bill ratio significantly above one, indicating strong demand [57] Question: Component supply issues - Management acknowledged ongoing supply chain challenges but noted improvements in commitments for the second half of the year [64] Question: Gross margin outlook - Management expects gross margins to improve due to the ramp of ICE6 and vertical integration, despite ongoing supply chain pressures [87] Question: 800-gig business dynamics - Management confirmed that the growth in the 800-gig segment includes both new customer acquisitions and transitions from older technologies [111]

Infinera Corporation (NASDAQ:INFN) Q3 2021 Earnings Conference Call November 3, 2021 5:00 PM ET Company Participants | --- | |--------------------------------------------| | | | Amitabh Passi - Head of Investor Relations | | David Heard - Chief Executive Officer | | Nancy Erba - Chief Financial Officer | | Conference Call Participants | | Alex Henderson - Needham & Company | | Michael Genovese - WestPark Capital | | Simon Leopold - Raymond James | | Meta Marshall - Morgan Stanley | | George Notter - Jefferi ...

Q3 2021 Financial Performance - Revenue reached $356.8 million, a 4.6% year-over-year increase compared to $341.2 million in Q3 2020[6] - Gross margin was 38%, a 280 bps increase year-over-year from 35.2% in Q3 2020[6] - Operating margin was 2.4%, a 20 bps increase year-over-year from 2.2% in Q3 2020[6] - Cash flow from operations was negative $13 million, impacted by inventory build-up to navigate supply chain challenges[4] Q4 2021 Outlook (Non-GAAP) - Revenue is projected to be $385 million, plus or minus $15 million, representing an 8.6% year-over-year increase[12] - Gross margin is expected to be 37%, plus or minus 150 bps, a 60 bps decrease year-over-year[12] - Operating expenses are forecasted at $131 million, plus or minus $2 million, a 19% year-over-year increase[12] - Operating margin is anticipated to be 3%, plus or minus 200 bps, a 360 bps decrease year-over-year[12] Regional and Vertical Performance (Q3 2021) - Revenue from the United States was $163.6 million, representing 46% of total revenue[7] - Revenue from Europe, Middle East, and Africa (EMEA) was $114.8 million, accounting for 32% of total revenue, a 22% increase compared to Q2 2021[7] - Revenue from Asia Pacific (APAC) was $48.5 million, making up 14% of total revenue, a 24% increase compared to Q2 2021[7] - Revenue from Internet Content Providers (ICPs) was $69.9 million, comprising 20% of total revenue, a 43% increase compared to Q2 2021[7]

Cj Infinera Second Quarter 2021 Financial Results August 3, 2021 Safe Harbor Forward-Looking Statements This presentation contains forward-looking statements, including those related to Infinera's expectations regarding its business model, market opportunities and trends, competition, and customers; expectations regarding industry-wide supply chain challenges and ongoing COVID-19 pandemic impact; and Infinera's financial outlook for the third quarter of 2021. All statements other than statements of historic ...

Infinera Corporation (NASDAQ:INFN) Q2 2021 Results Conference Call August 3, 2021 5:00 PM ET Company Participants Amitabh Passi - Head of Investor Relations David Heard - Chief Executive Officer Nancy Erba - Chief Financial Officer Conference Call Participants John Marchetti - Stifel Simon Leopold - Raymond James Alex Henderson - Needham Michael Genovese - WestPark Capital Bala Reddy - Goldman Sachs Fahad Najam - MKM Partners Samik Chatterjee - JPMorgan George Notter - Jefferies Jim Suva - Citi Dave Nwokonk ...

Cj Infinera® First Quarter 2021 Financial Results May 4, 2021 Safe Harbor Forward-Looking Statements This presentation contains forward-looking statements, including those related to Infinera's expectations regarding its business model, market opportunities, competition and customers, including as it continues to manage industry-wide supply chain challenges and ongoing pandemic impact; and its financial outlook for the second quarter of 2021. All statements other than statements of historical fact could be ...

Financial Data and Key Metrics Changes - Q1 revenue was $332 million, exceeding the midpoint of the outlook of $320 million to $340 million, with a year-on-year improvement of $19 million in operating cash flow [20][10][21] - Gross margin was 37.6%, above the high end of the outlook of 34% to 37%, reflecting a year-on-year expansion of over 900 basis points [21][10] - Operating profit was $1.3 billion, resulting in a 1.4% operating margin, which is also at the high end of the outlook [22][10] - The EPS in Q1 was a loss of $0.03 per share, representing a $0.17 per share improvement year-on-year [23] Business Line Data and Key Metrics Changes - Revenue from the open optic portfolio grew in the double-digit percentage range year-on-year, driven by network expansions and new customer wins [11] - Bookings in the subsidies segment were up almost 150% year-on-year, indicating strong demand for subsea routes [12] - Record bookings were achieved for open optical compact modular platforms and near-record bookings for open optical line systems [11] Market Data and Key Metrics Changes - 48% of revenue came from the United States, with spending recovering from a weak Q4, while international revenue was down sequentially due to seasonality [20] - The optical systems market is expected to grow 2% to 3% year-on-year, with the company projecting its revenue growth rate to slightly exceed market growth [15][29] Company Strategy and Development Direction - The company aims to leverage its core competence and vertical integration in high-performance optical engines, focusing on the shift to open optical and next-generation pluggable products [16] - Strategic priorities include enhancing the Metro portfolio with 400 gig optical interfaces and ramping up 800 gig solutions [15][16] - The company is positioned to gain market share and expand its addressable market while driving margins towards long-term targets [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term market opportunities, despite ongoing supply chain challenges due to semiconductor shortages [14][15] - The company anticipates a meaningful revenue ramp in the second half of 2021, driven by strong demand and backlog conversion [13][29] - Management acknowledged the impact of COVID-19 and industry-wide supply chain challenges on business plans and results [4][5] Other Important Information - The company ended the quarter with $250 million in cash and restricted cash, benefiting from $90 million of cash flow from operations [24] - The company plans to invest in R&D to enhance its market position and capitalize on the transition to higher speeds in the metro [28] Q&A Session Summary Question: Can you talk about different verticals or order trends in the quarter? - Management noted strong order demand in Q1, with purchase orders received for products, and emphasized the strong demand for both metro and long-haul infrastructure products [34] Question: How much of an impact did component shortages have in Q1 and what is expected in Q2? - The impact in Q1 was estimated at $15 million to $20 million, with a similar expectation of $20 million to $25 million for Q2 [49][50] Question: Can you discuss the strengths in the tier one service provider market in North America? - Management indicated that the ICT sector remains volatile, with bookings to revenue being a key focus, and noted a recovery in Asia [44] Question: What is the nature of the orders received, particularly for 800 gig products? - The backlog includes both 800 gig products and existing product sets, with strong demand expected to convert into revenue in the back half of the year [63] Question: How is the company addressing supply chain constraints? - Management is working closely with supply chain partners to mitigate risks and is focused on fulfilling backlog orders despite longer lead times [56][92] Question: What is the company's strategy regarding inventory and chip procurement? - The company is considering maintaining higher inventory levels to combat supply chain shocks and is actively working with suppliers to secure components [92] Question: How does the company view the Huawei backlash opportunity? - Management sees this as a long-term opportunity, with potential revenue growth expected to pick up in 2022 and beyond [83][85]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 26, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33486 Infinera Corporation (Exact name of registrant as specified in its charter) Delaware 77-0560433 (State or other jurisdiction of incorpora ...

| --- | --- | --- | --- | --- | --- | |---------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fourth Quarter 2020 Financial Results | | | | | | | February 23, 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | Safe Harbor Forward-Looking Statements This presentation contains forward-looking statements, including those related to Infinera's expectations regarding its business model, market ...

Infinera Corporation (NASDAQ:INFN) Q4 2020 Earnings Conference Call February 23, 2021 5:00 PM ET Company Participants Amitabh Passi - Investor Relations David Heard - Chief Executive Officer Nancy Erba - Chief Financial Officer Conference Call Participants Joe Cardoso - JPMorgan Rod Hall - Goldman Sachs John Marchetti - Stifel Alex Henderson - Needham & Company Simon Leopold - Raymond James Meta Marshall - Morgan Stanley Jeff Kvaal - Wolfe Research Jim Suva - Citigroup George Notter - Jefferies Ryan Koontz ...