SAXONBURG, Pa., Sept. 05, 2025 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE: COHR), a global leader in photonics, announced today its membership in the Diode Technology Working Group within the STARFIRE Hub, a collaborative initiative led by Lawrence Livermore National Laboratory (LLNL) to accelerate the development of inertial fusion energy (IFE). This collaboration reflects Coherent’s commitment to pushing the boundaries of photonics to address the world’s most complex energy challenges. By working alongside ...

Core Insights - Coherent Corp. has launched the EDGE FL30, a 30 kW fiber laser designed for superior performance in metal cutting applications, setting a new standard for high-power, thick sheet cutting [1][4] Product Features - The EDGE FL30 features back reflection resilience, minimizing cut loss and process instability, which enhances uptime and consistency in challenging cutting scenarios [2] - Built with Coherent's active fiber technology and pump diodes, the EDGE FL30 ensures high efficiency, quality, and longevity [2] - The system utilizes FPGA-controlled EDGE FL modules, providing robust performance, redundancy, and field-replaceable options [2] Market Impact - The introduction of the EDGE FL30 is expected to improve manufacturers' throughput, reduce interruptions, and lower total cost of ownership [2] - Coherent's FSC3-Z-HP cutting head is compatible with the EDGE FL30, allowing OEMs to create next-generation cutting machines with enhanced reliability and precision [3] Industry Commitment - The EDGE FL30 will be showcased at FABTECH 2025 in Chicago, highlighting Coherent's dedication to advancing high-power fiber laser cutting technology in both the U.S. and global markets [4]

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Photonics company Coherent (COHR -19.52%) wasn't a bright light on the stock exchange Thursday. Despite delivering a second quarter that (slightly) beat analyst estimates, factors such as growth deceleration in a key business segment raised some concern. Slowing growth in a crucial customer demographic provided reason for the market to be concerned about recent results. With that, more than a few market players assertively sold out of the stock to leave it with a loss of almost 20% on the day. That compared ...

Core Insights - Coherent Corp. reported record revenues of $1.53 billion for Q4 FY25 and $5.81 billion for the full fiscal year, marking a year-over-year growth of 23% [1][2][4] - The company experienced a GAAP gross margin of 35.7% in Q4 FY25 and 35.2% for the full year, with non-GAAP gross margins at 38.1% and 37.9% respectively, indicating significant margin expansion [1][2][4] - Despite a GAAP net loss of $0.83 per diluted share in Q4 FY25, the non-GAAP EPS was $1.00, reflecting a substantial improvement in profitability metrics [1][2][4] Financial Performance - Q4 FY25 revenues reached $1,529 million, up 2.1% quarter-over-quarter and 16.4% year-over-year, while full-year revenues were $5,810 million, a 23.4% increase from FY24 [1][2][5] - GAAP gross margin improved by 284 basis points year-over-year to 35.2% for FY25, while non-GAAP gross margin increased by 358 basis points to 37.9% [4][5] - The company reported a GAAP net loss of $0.52 per diluted share for FY25, an improvement of $1.32 compared to the previous year, while non-GAAP EPS rose by $2.32 to $3.53 [4][5] Operational Highlights - The CEO highlighted strong revenue growth driven by key growth areas such as AI datacenters, and the company is optimizing its portfolio by selling its Aerospace and Defense business [3][4] - Operating cash flow improved, allowing the company to repay approximately $437 million of outstanding debt during FY25 [3] - The company commenced revenue shipments of its 1.6T datacom transceivers and achieved initial revenue from its optical circuit switch platform, expanding its addressable market by over $2 billion by 2030 [7][8] Business Outlook - For Q1 FY26, the company expects revenues between $1.46 billion and $1.60 billion, with gross margins projected between 37.5% and 39.5% on a non-GAAP basis [15] - The sale of the Aerospace and Defense business is anticipated to close in the current quarter, which will exclude approximately $20 million in revenue from future forecasts [9]

Financial Data and Key Metrics Changes - The fourth quarter revenue was $480.7 million, with non-GAAP EPS of $0.88, both exceeding the high end of revised guidance [18] - Fiscal year 2025 net revenue was $1.65 billion, up 21% from fiscal year 2024 [20] - Non-GAAP gross margin for the fourth quarter was 37.8%, up 260 basis points sequentially and up 1,000 basis points year on year [18] - Non-GAAP operating margin for the fourth quarter was 15%, up 420 basis points sequentially and over 2,000 basis points year on year [18] Business Line Data and Key Metrics Changes - Cloud and networking segment revenue for Q4 was $424.1 million, increasing 16% sequentially and 67% year on year [21] - Industrial tech segment revenue was $56.6 million, down 6% sequentially but up 6% year on year [22] - Cloud modules revenue grew by 50% quarter over quarter, contributing significantly to sequential revenue growth [12] Market Data and Key Metrics Changes - The demand for optical hardware and bandwidth is growing dramatically due to the central role of AI in customer business strategies [6][7] - The company expects to surpass $600 million in quarterly revenue by June 2026 or earlier, driven by strong growth in cloud and networking [9] Company Strategy and Development Direction - The company is focused on three significant areas for long-term growth: cloud modules, optical circuit switching (OCS), and co-packaged optics (CPO) [12] - The company is investing in manufacturing capacity to support cloud customers and is expanding its in-house OCS manufacturing capacity to meet high demand [13][14] - The company aims to maintain a competitive advantage through innovation in optical technologies and strategic partnerships with hyperscalers [7][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver continued top-line growth and margin expansion, driven by the rapid adoption of AI [17] - The company anticipates 2026 to be a breakout year for laser chip sales, particularly for 100 and 200 gig lane speeds [11] - Management noted that the tariff situation is fluid but believes their products are exempt from potential semiconductor tariffs [54] Other Important Information - The company is transitioning from three-inch to four-inch wafers to increase capacity and is also looking to expand to six-inch wafers in the future [104][109] - The company has received a significant order for 200 gig line speed EML chips, expected to be filled in December [10] Q&A Session Summary Question: Update on OCS award and revenue trajectory - Management indicated that the revenue ramp for OCS is better than expected, with significant revenues anticipated in early 2026 and a more meaningful inflection point in the second half of 2026 [30] Question: CPO opportunity and competitive landscape - Management feels confident in maintaining a competitive edge in the CPO market due to unique power levels and reliability of their lasers [33] Question: Contributions to the $600 million revenue target - Management expects continued strength in the components business and significant contributions from cloud modules and OCS [39] Question: Impact of semiconductor tariffs - Management believes their products are exempt from tariffs and has not seen material changes in business operations due to tariffs [54] Question: EML wafer fab capacity and pricing dynamics - Management is transitioning to larger wafers to increase capacity and anticipates that pricing discussions will become more significant in the coming quarters due to limited supply [106][109] Question: Profitability arc of OCS product offering - Management stated that OCS will be significantly above corporate margin averages and will be accretive to margins as volume increases [112]

Financial Data and Key Metrics Changes - Fourth quarter revenue was $480.7 million, exceeding the high end of revised guidance, with non-GAAP EPS of $0.88 [16] - Fiscal year 2025 net revenue was $1.65 billion, up 21% from fiscal year 2024 [19] - Non-GAAP gross margin for the fourth quarter was 37.8%, up 260 basis points sequentially and 1,000 basis points year over year [17] - Non-GAAP operating margin for the fourth quarter was 15%, up 420 basis points sequentially and over 2,000 basis points year on year [17] Business Line Data and Key Metrics Changes - Cloud and networking segment revenue for Q4 was $424.1 million, increasing 16% sequentially and 67% year over year [20] - Industrial tech segment revenue was $56.6 million, down 6% sequentially but up 6% year over year [21] - Cloud and networking segment profit was 23.6%, up 360 basis points sequentially and 1,350 basis points year over year [21] Market Data and Key Metrics Changes - The company expects to surpass $600 million in quarterly revenue by June 2026 or earlier, driven by strong demand in cloud and AI applications [6][7] - Cloud revenue is growing over 20% annually, with expectations for continued strength in components and cloud modules [6][37] Company Strategy and Development Direction - The company is focusing on three significant growth areas: cloud modules, optical circuit switching (OCS), and co-packaged optics (CPO) [10] - The company is positioned to capture significant value from the AI infrastructure market, with technologies projected to become multibillion-dollar markets within five years [6] - The company is expanding its manufacturing capacity to meet high demand, particularly in the cloud and networking segment [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained growth driven by the rapid adoption of AI, highlighting the effectiveness of their strategy and operational resilience [14] - The company anticipates a breakout year for laser chip sales in 2026, with demand expected to outpace supply [9] - Management noted that the tariff situation is fluid but does not expect material changes to business operations due to tariffs [53][56] Other Important Information - The company invested $59 million in CapEx during Q4, primarily focused on manufacturing capacity to support cloud customers [20] - The company is transitioning from three-inch to four-inch wafers to increase capacity [102] Q&A Session Summary Question: Update on OCS award and revenue trajectory - Management indicated that the OCS revenue is ramping better than expected, with significant revenue anticipated in early 2026 and a more meaningful inflection point in the second half of 2026 [29][30] Question: CPO opportunity and competitive landscape - Management feels confident in maintaining a competitive edge in the CPO market due to unique power levels and reliability of their lasers [32] Question: Contributions to the $600 million revenue target - Management expects continued strength in components, significant contributions from cloud modules, and revenue from OCS to help achieve the target [37] Question: Semiconductor tariffs impact - Management believes their products are exempt from new tariffs and does not expect material impacts on operations [53][56] Question: EML wafer fab capacity and pricing dynamics - Management confirmed they are transitioning to larger wafers to increase capacity and anticipate pricing discussions to become more significant due to limited supply and high demand [102][104] Question: Profitability of OCS product offering - Management stated that OCS will be significantly above corporate margin averages and will be accretive to margins as volume ramps up [110]

Q4 FY25 Conference Call August 12, 2025 Forward Looking Statements and Financial Presentation This presentation and our earnings call contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding: our belief and expectations with respect to our markets, including the cloud end market and the broader networking market, customers and industry, cloud and AI investments and buildout an ...

Core Insights - LightPath Technologies has appointed Dr. Stephen L. Mielke as Vice President of Engineering to lead the company's transition from a component supplier to a system supplier in optics and imaging systems [1][4]. Company Overview - LightPath Technologies, Inc. is a leading provider of next-generation optics and imaging systems for defense and commercial applications, with a vertically integrated approach that includes in-house engineering design support [5]. - The company specializes in custom solutions, including proprietary BlackDiamond™ chalcogenide-based glass materials and complete infrared optical systems [5]. Leadership and Experience - Dr. Mielke brings over 20 years of experience in the photonics industry, with expertise in electro-optical systems and technologies across various applications, including automotive LiDAR and optical metrology [2][3]. - His previous roles include Optical System Architect at Luminar Technologies and Director of Engineering at Zygo Corporation, where he led teams in developing advanced optical tools [3]. Strategic Direction - The appointment of Dr. Mielke is seen as pivotal for accelerating the development and deployment of new products, particularly in cameras and optics, as the company aims to enhance its product offerings [4]. - The company is focused on leveraging its in-house capabilities to become a leading provider of integrated optical systems, targeting a diverse market including defense and government sectors [4].

Core Insights - Coherent Corp. has entered a new multiyear strategic supply agreement with Apple, enhancing their long-term partnership [1][2] - The agreement focuses on the production of vertical-cavity surface-emitting lasers (VCSELs) essential for features like Face ID on Apple devices [1] - Coherent's manufacturing facility in Sherman, Texas, plays a crucial role in this production [1][2] Company Overview - Coherent is recognized as a global leader in photonics, providing technology that drives innovation across various industries [3] - The company operates in over 20 countries and offers a comprehensive technology stack and resilient supply chain [4] - Coherent's technology is utilized by industry leaders in data centers, communications, and industrial markets [3][4] Strategic Importance - The partnership with Apple is seen as a testament to the strength of their collaboration and commitment to advancing technology [2] - Apple's commitment to invest $600 billion in the U.S. over the next four years highlights the significance of American manufacturing and innovation [2] - Coherent's Sherman facility features advanced manufacturing platforms for next-generation optoelectronic applications [2]