Lumentum Holdings Inc. (NASDAQ:LITE) Q3 2023 Results Conference Call May 9, 2023 8:30 AM ET Company Participants Kathy Ta - VP, IR Alan Lowe - President and CEO Wajid Ali - CFO Chris Coldren - SVP and Chief Strategy and Corporate Development Officer Conference Call Participants Simon Leopold - Raymond James Samik Chatterjee - JP Morgan Alex Henderson - Needham Meta Marshall - Morgan Stanley Tom O’Malley - Barclays Christopher Rolland - SIG Ruben Roy - Stifel Blake Friedman - Bank of America George Notter - ...

Mergers and Acquisitions - The merger with NeoPhotonics was completed on August 3, 2022, with a total transaction consideration of $934.4 million, including $867.3 million in cash paid to NeoPhotonics shareholders [191][194]. - The acquisition of IPG Photonics' telecom transmission product lines was finalized on August 15, 2022, for a total cash purchase price of $55.9 million, enhancing the OpComms segment [196]. - The company recorded $24.2 million in merger-related costs associated with the NeoPhotonics merger, impacting selling, general, and administrative expenses [194]. - Restructuring and related charges for the nine months ended April 1, 2023 totaled $24.8 million, primarily due to integration efforts from the NeoPhotonics merger [238]. Financial Performance - Net revenue decreased by $12.0 million, or 3.0%, during the three months ended April 1, 2023, compared to the same period in 2022, primarily due to a $9.1 million decrease in OpComms revenue and a $2.9 million decrease in Lasers revenue [209]. - Net revenue increased by $105.7 million, or 8.2%, during the nine months ended April 1, 2023, compared to the same period in 2022, driven by a $89.7 million increase in OpComms revenue and a $16.0 million increase in Lasers revenue [211]. - For the three months ended April 1, 2023, net revenue from customers outside the United States represented 82.2% of total net revenue, a decrease from 90.8% in the same period in 2022 [216]. Operating Expenses - Total operating expenses increased to 42.6% of net revenue during the three months ended April 1, 2023, compared to 30.5% in the same period in 2022 [208]. - Research and development expenses increased by 50.6% to $85.4 million during the three months ended April 1, 2023, representing 22.3% of net revenue [208]. - SG&A expense increased by $12.6 million, or 19.7%, during the three months ended April 1, 2023 compared to the same period in 2022, driven by increased payroll and employee compensation expenses [233]. - SG&A expense increased by $84.4 million, or 43.0%, during the nine months ended April 1, 2023 compared to the same period in 2022, primarily due to additional headcount from the NeoPhotonics merger [234]. Gross Margin and Profitability - Gross profit decreased by $55.2 million, or 33.0%, during the three months ended April 1, 2023, resulting in a gross margin of 29.2% compared to 42.3% in the same period in 2022 [208]. - Gross margin for the three months ended April 1, 2023 decreased to 29.2% from 42.3% for the same period in 2022, primarily due to lower gross margin from the OpComms segment [221]. - OpComms gross margin for the three months ended April 1, 2023 decreased to 40.8% from 49.0% for the same period in 2022, driven by a less profitable mix of products [225]. Supply Chain and Market Demand - As of April 1, 2023, the company incurred $10.8 million in incremental supply and procurement costs due to global supply chain constraints, which may impact gross margins [202]. - The company expects ongoing challenges with component supply in the remaining fiscal 2023, affecting its ability to meet customer demand [202]. - The company anticipates continued strong demand for optical devices driven by the shift to digital and virtual environments, emphasizing the importance of communications systems and cloud services [200]. - The impact of COVID-19 has led to a global slowdown in economic activity, affecting demand and supply chains, with ongoing monitoring of the situation [199]. Cash Flow and Liquidity - As of April 1, 2023, the company's cash and cash equivalents decreased to $549.2 million from $1,290.2 million as of July 2, 2022 [248]. - Cash provided by operating activities was $130.6 million during the nine months ended April 1, 2023, reflecting a net loss of $71.4 million [264]. - Cash used in investing activities totaled $803.1 million during the nine months ended April 1, 2023, primarily due to the acquisition of NeoPhotonics and IPG product lines for $861.6 million [266]. - The company has a total of $2,868.2 million in contractual obligations as of April 1, 2023, with $828.8 million due within the next year [253]. - The company’s liquidity position may be impacted by global economic conditions, demand fluctuations, and changes in accounts receivable and inventory [252]. Tax and Interest - The company recorded a tax benefit of $9.4 million for the three months ended April 1, 2023, and a tax provision of $14.4 million for the nine months ended April 1, 2023 [244]. - The company’s estimated effective tax rate for fiscal 2023 differs from the 21% U.S. statutory rate primarily due to the income tax expense from GILTI [246]. - Interest expense for the three months ended April 1, 2023 was $8.7 million, a decrease from $19.7 million for the same period in 2022, primarily due to the adoption of ASU 2020-06 [241]. Investments and Risks - The company is exposed to equity price risk related to the conversion options embedded in its 2028, 2026, and 2024 Notes, with an aggregate principal amount of $2,361.0 million [275]. - A hypothetical 1% increase or decrease in interest rates would result in a fair value change of approximately $7.1 million in the investment portfolio as of April 1, 2023 [278]. - The company has significant net operating losses (NOLs) in the U.S. which could impact the recoverability of deferred tax assets in the future [271]. - As of April 1, 2023, the company had approximately $257.5 million of unrestricted cash in operating accounts, which could be impacted by the failure of financial institutions [279].

Lumentum Holdings Inc. (NASDAQ:LITE) Q2 2023 Earnings Conference Call February 9, 2023 8:30 AM ET Company Participants Kathy Ta - Vice President of Investor Relations Alan Lowe - President and Chief Executive Officer Wajid Ali - Chief Financial Officer Chris Coldren - Senior Vice President and Chief Strategy and Corporate Development Officer Conference Call Participants Simon Leopold - Raymond James Tom O'Malley - Barclays Christopher Rolland - SIG Samik Chatterjee - J.P. Morgan Alex Henderson - Needham Met ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 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 001-36861 Lumentum Holdings Inc. (Exact name of Registrant as specified in its charter) Delaware 47-3108385 (Address of principa ...

Forward Looking Statements and Financial Presentation © 2022 Lumentum Operations LLC | LUMENTUM CONFIDENTIAL AND PROPRIETARY INFORMATION 2 Telecom & Datacom Datacom revenue declined Q/Q due to inventory digestion by cloud customers, as expected – Expect ~$60M gap between supply and demand in Q3 due to IC shortages, modestly improved from Q2 Industrial & Consumer Revenue down Q/Q, more than expected due to weaker demand from our largest 3DS customer – Ultrafast laser revenue more than doubled Y/Y due to expa ...

Q1 FY23 Results - Revenue reached $506.8 million[6,9,12,15], a 67% year-over-year increase[3] - GAAP gross margin was 39.7%[6], while non-GAAP gross margin was 48.2%[9] - GAAP operating expenses were $187.7 million[6], representing 37.0% of revenue[6] - Non-GAAP operating expenses were $107.6 million[9], representing 21.1% of revenue[9] - GAAP operating income was $13.5 million[6], a 2.7% of revenue[6] - Non-GAAP operating income was $137.6 million[9], a 27.1% of revenue[9] - Cash and short-term investments totaled $1,624.9 million[14] Segment Performance - Telecom revenue grew 79% year-over-year, contributing $136 million of incremental revenue[3] - Telecom growth excluding acquisitions was 38% year-over-year[3] - ROADM revenue increased 23% quarter-over-quarter and 34% year-over-year[3] Q2 FY23 Guidance - Revenue is projected to be between $490 million and $520 million[15] - Operating margin is expected to be between 20% and 22%[15] - IC shortages are expected to impact revenue by approximately $80 million[3,15]

Lumentum Holdings Inc. (NASDAQ:LITE) Q1 2023 Results Conference Call November 8, 2022 8:30 AM ET Company Participants Kathy Ta - VP, IR Alan Lowe - President and CEO Wajid Ali - CFO Chris Coldren - SVP and Chief Strategy and Corporate Development Officer Conference Call Participants Samik Chatterjee - JP Morgan Simon Leopold - Raymond James Meta Marshall - Morgan Stanley George Notter - Jefferies Vivek Arya - Bank of America Alex Henderson - Needham Tom O'Malley - Barclays Ananda Baruah - Loop Capital Micha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2022 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 001-36861 Lumentum Holdings Inc. (Exact name of Registrant as specified in its charter) Delaware 47-3108385 (State or other jurisd ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended July 2, 2022 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 001-36861 Lumentum Holdings Inc. (Exact name of Registrant as specified in its charter) Delaware 47-3108385 (I.R.S. Employe ...

Lumentum Holdings Inc. (NASDAQ:LITE) Q4 2022 Results Conference Call August 16, 2022 8:30 AM ET Company Participants Kathy Ta - VP, IR Alan Lowe - President and CEO Wajid Ali - EVP and CFO Chris Coldren - SVP, Chief Strategy and Corporate Development Officer Conference Call Participants Alex Henderson - Needham George Notter - Jefferies Simon Leopold - Raymond James Tom O’Malley - Barclays Meta Marshall - Morgan Stanley Christopher Rolland - Susquehanna Samik Chatterjee - JP Morgan Ananda Baruah - Loop Capi ...