Infinera(US:INFN) Newsfilter·2025-02-28 00:30Core Insights - Infinera Corporation reported a GAAP revenue of $414.4 million for Q4 2024, a sequential increase from $354.4 million in Q3 2024 but a decrease from $453.5 million in Q4 2023 [2] - The company experienced a GAAP net loss of $(26.3) million for Q4 2024, compared to a net loss of $(14.3) million in Q3 2024 and a net income of $12.9 million in Q4 2023 [4] - Infinera's CEO highlighted significant momentum in bookings, with a sequential growth of over 50% in Q4 2024 and a year-over-year increase of approximately 20% [10] Financial Performance - GAAP revenue for the fiscal year 2024 was $1,418.4 million, down from $1,614.1 million in 2023 [7] - The GAAP gross margin for the year was 38.4%, slightly down from 38.6% in 2023 [7] - The GAAP operating margin for the year was (5.9)%, compared to (0.3)% in 2023 [7] - Non-GAAP net income for Q4 2024 was $8.2 million, or $0.03 per diluted share, compared to $0.3 million in Q3 2024 and $28.6 million in Q4 2023 [6] Strategic Developments - Infinera announced a pending merger with Nokia, expected to be completed around February 28, 2025 [11] - The merger is anticipated to enhance Infinera's scale and resources, positioning the company for innovation in optical networking, particularly in the context of AI-driven data center builds [10] - The company secured funding under the CHIPS & Science Act, with potential federal incentives exceeding $200 million [13] Market Position - Infinera reported a book-to-bill ratio of approximately 1.1x for FY 2024 and 1.3x for Q4 2024, indicating a healthy order intake relative to revenue [13] - The company achieved record revenue exposure from webscalers, with over 50% of FY 2024 revenue coming from this segment [13] - Significant design wins were noted across the GX systems portfolio with webscalers and Tier 1 Communications Service Providers [13]