$CIEN (+1.23%) | Ciena Q4 Earnings Highlights

🔹 Revenue: $1.12B (Est. $1.1)😐; Flat YoY

🔹 Non-GAAP EPS: $0.54 (Est. $0.65) 🔴

🔹 Gross Margin: 40.9% (down 2.2% YoY)

Revenue by Segment:

🔹 Networking Platforms: $859M; 76.4% of revenue

   ◦ Optical Networking: $779.6M (+4.2% YoY)

   ◦ Routing & Switching: $79.4M (-38% YoY)

🔹 Platform Software & Services: $99.6M (+21% YoY)

🔹 Global Services: $142.0M (-5.7% YoY)

Revenue by Region:

🔹 Americas: $852.2M (76% of total revenue)

🔹 EMEA: $150.7M (-8% YoY)

🔹 Asia Pacific: $121.2M (-26% YoY)

Key Operational Metrics:

🔹 Cash Flow: $349.3M (Q4); $514.5M for FY2024

🔹 Cash & Investments: $1.33B at year-end

🔹 Headcount: 8,657

🔹 Inventory: $820.4M, with product turns of 2.7

Full-Year FY24:

🔹 Revenue: $4.01B (vs. $4.39B in FY23)

🔹 GAAP EPS: $0.58 (vs. $1.71 in FY2023)

🔹 Non-GAAP EPS: $1.82 (vs. $2.72 in FY2023)

🔹 Operating Margin: 4.1% (vs. 8.2% FY23)

Key Highlights:

🔸 Ciena repurchased 2.1M shares for $132M in Q4.

🔸 Optical Networking growth of 4.2% YoY reflects strength in Cloud and AI-driven demand.

🔸 CEO Gary Smith cited "positive industry dynamics" and increasing technology leadership as drivers for future growth.

Challenges:

🔸 Routing & Switching and Asia-Pacific revenue experienced significant declines, impacting overall results.

🔸 Margins compressed due to higher operating expenses and softer global demand.