Ciena(CIEN) - 2025 Q2 - Quarterly Results

Revenue Performance - Ciena reported revenue of $1.13 billion for fiscal Q2 2025, a 23.6$910.8 million in fiscal Q2 2024[2][6]. - Total revenue for the quarter ended May 3, 2025, was $1,125,878,000, representing a 23.5$910,826,000 in the same quarter of 2024[15]. - Americas region generated $833.8 million in revenue, representing 74.1$662.9 million in the prior year[7]. - Two customers accounted for 23.9% of total revenue in fiscal Q2 2025[10]. Profitability - GAAP net income for fiscal Q2 2025 was $9.0 million, or$0.06 per diluted share, compared to a net loss of $(16.8) million, or$(0.12) per diluted share, in the same quarter last year[3][4]. - Adjusted (non-GAAP) net income for fiscal Q2 2025 was $60.7 million, or$0.42 per diluted share, up from $39.4 million, or$0.27 per diluted share, in fiscal Q2 2024[3][4]. - Net income for the quarter was $8,969,000, compared to a net loss of$16,849,000 in the same quarter of the previous year, marking a significant turnaround[15]. - GAAP diluted net income per potential common share for Q2 2025 was $0.06, compared to a loss of$0.12 in Q2 2024[21]. Expenses and Margins - The gross margin decreased to 40.2% in fiscal Q2 2025 from 42.7% in fiscal Q2 2024[6]. - Operating expenses increased by 7.0% to $420.0 million in fiscal Q2 2025, compared to$392.6 million in the prior year[6]. - Research and development expenses for the quarter were $214,868,000, an increase of 10$195,380,000 in the prior year[15]. - Share-based compensation expense increased to $48,024 in Q2 2025 from$40,211 in Q2 2024[23]. Cash Flow and Investments - Cash and investments totaled $1.35 billion, with cash flow from operations amounting to$156.9 million[10]. - Cash and cash equivalents at the end of the period were $949,771,000, slightly up from$934,863,000 at the end of the previous reporting period[17]. - The company reported a net cash provided by operating activities of $260,669,000 for the six months ended May 3, 2025, down from$324,549,000 in the same period of 2024[19]. Balance Sheet - Total assets increased to $5,659,366,000 from$5,641,337,000, reflecting a growth of 0.3%[17]. - Total liabilities increased to $2,882,987,000 from$2,825,199,000, representing a rise of 2%[17]. - Average days' sales outstanding (DSOs) were 87, with accounts receivable net balance at $929.8 million[10]. Stock Repurchase - Ciena repurchased approximately 1.2 million shares of common stock for an aggregate price of$84.3 million during the quarter[4]. - The company repurchased $168,197,000 of common stock under its repurchase program during the six months ended May 3, 2025[19]. Adjusted Metrics - Adjusted EBITDA for Q2 2025 reached$116,683, compared to $85,819 in Q2 2024, reflecting a 36.0$461,083, with a gross profit percentage of 41.0%, down from 43.5% in Q2 2024[21]. - Adjusted (non-GAAP) income from operations was $91,591 for Q2 2025, up from$62,611 in Q2 2024, indicating a 46.3% increase[21].