Lumentum Holdings Inc. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $1.6B |
| Gross margin | 28.0% |
| Operating income | −$180.1M |
| Net income | $25.9M |
| Diluted EPS | $0.37 |
| Cash & equivalents | $520.7M |
| Total assets | $4.2B |
| Long-term debt | $2.6B |
Key takeaway
Lumentum reported $1.645B in fiscal 2025 revenue but swung to a $180.1M operating loss, showing a disconnect between top-line and operating performance.
🔒 4 more takeaways in the full analysis
Beneath the surface
The company's $25.9M net income was almost entirely driven by a $198M tax benefit rather than operating performance, masking a $180.1M operating loss and signaling the reported profitability is largely non-operational.
🔒 3 more insights a headline reader would miss
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