Ciena® Corporation announced unaudited financial results for its fiscal fourth quarter ended November 2, 2024.

Q4 Revenue: $1.12 billion
Q4 Net Income per Share: $0.25 GAAP; $0.54 adjusted (non-GAAP)
Share Repurchases: Repurchased approximately 2.1 million shares of common stock for an aggregate price of $132.0 million during the quarter

“Our Q4 revenue and strong order flow reflect our significant and increasing technology leadership and positive industry dynamics,” said Gary Smith, president and CEO, Ciena. “As Cloud and AI drive bandwidth demand across the network, we are positioned for accelerated revenue growth and market share expansion moving forward.”

For fiscal fourth quarter 2024, Ciena reported revenue of $1.12 billion as compared to $1.13 billion for the fiscal fourth quarter 2023. For fiscal year 2024, Ciena reported revenue of $4.01 billion, as compared to $4.39 billion for fiscal year 2023.

Ciena’s GAAP net income for the fiscal fourth quarter 2024 was $37.0 million, or $0.25 per diluted common share, which compares to a GAAP net income of $91.2 million, or $0.62 per diluted common share, for the fiscal fourth quarter 2023. For fiscal year 2024, Ciena’s GAAP net income was $84.0 million, or $0.58 per diluted common share, as compared to GAAP net income of $254.8 million, or $1.71 per diluted common share, for fiscal year 2023.

Ciena’s adjusted (non-GAAP) net income for the fiscal fourth quarter 2024 was $79.3 million, or $0.54 per diluted common share, which compares to an adjusted (non-GAAP) net income of $111.2 million, or $0.75 per diluted common share, for the fiscal fourth quarter 2023. For fiscal year 2024, Ciena’s adjusted (non-GAAP) net income was $266.3 million, or $1.82 per diluted common share, as compared to adjusted (non-GAAP) net income of $406.3 million, or $2.72 per diluted common share, for fiscal year 2023.

Performance Summary For Fiscal Fourth Quarter and Year Ended November 2, 2024
The tables below (in millions, except percentage data) provide comparisons of certain quarterly and annual results to the prior year. Appendices A and B set forth reconciliations between the GAAP and adjusted (non-GAAP) measures contained in this release.

	GAAP Results (unaudited)
		Quarter Ended						Period		Year Ended						Period
		November 2,			October 28,			Change		November 2,			October 28,			Change
			2024			2023		Y-T-Y*			2024			2023		Y-T-Y*
Revenue		$	1,124.1		$	1,129.5		(0.5	)%	$	4,014.9		$	4,386.5		(8.5	)%
Gross margin			40.9	%		43.1	%	(2.2	)%		42.8	%		42.8	%	—	%
Operating expense		$	400.8		$	395.0		1.5	%	$	1,553.0		$	1,521.3		2.1	%
Operating margin			5.3	%		8.1	%	(2.8	)%		4.1	%		8.2	%	(4.1	)%

	Non-GAAP Results (unaudited)
	Quarter Ended						Period		Year Ended						Period
	November 2,			October 28,			Change		November 2,			October 28,			Change
		2024			2023		Y-T-Y*			2024			2023		Y-T-Y*
Revenue	$	1,124.1		$	1,129.5		(0.5	)%	$	4,014.9		$	4,386.5		(8.5	)%
Adj. gross margin		41.6	%		43.7	%	(2.1	)%		43.6	%		43.5	%	0.1	%
Adj. operating expense	$	354.9		$	337.6		5.1	%	$	1,361.7		$	1,332.8		2.2	%
Adj. operating margin		10.0	%		13.8	%	(3.8	)%		9.7	%		13.1	%	(3.4	)%
Adj. EBITDA	$	136.7		$	178.8		(23.5	)%	$	481.0		$	665.8		(27.8	)%

	Revenue by Segment (unaudited)
	Quarter Ended
	November 2, 2024			October 28, 2023
	Revenue		%**	Revenue		%**
Networking Platforms
Optical Networking	$	779.6	69.4	$	748.0	66.2
Routing and Switching		79.4	7.0		128.9	11.4
Total Networking Platforms		859.0	76.4		876.9	77.6

Platform Software and Services		99.6	8.9		82.1	7.3

Blue Planet Automation Software and Services		23.5	2.1		20.0	1.8

Global Services
Maintenance Support and Training		77.2	6.9		74.4	6.6
Installation and Deployment		51.4	4.5		60.1	5.3
Consulting and Network Design		13.4	1.2		16.0	1.4
Total Global Services		142.0	12.6		150.5	13.3

Total	$	1,124.1	100.0	$	1,129.5	100.0

	Revenue by Segment (unaudited)
	Year Ended
	November 2, 2024			October 28, 2023
	Revenue		%**	Revenue		%**
Networking Platforms
Optical Networking	$	2,642.6	65.8	$	2,987.3	68.1
Routing and Switching		399.5	10.0		506.2	11.5
Total Networking Platforms		3,042.1	75.8		3,493.5	79.6

Platform Software and Services		358.0	8.9		303.9	6.9

Blue Planet Automation Software and Services		77.6	2.0		69.1	1.6

Global Services
Maintenance Support and Training		303.1	7.5		288.3	6.6
Installation and Deployment		184.3	4.6		181.0	4.1
Consulting and Network Design		49.8	1.2		50.7	1.2
Total Global Services		537.2	13.3		520.0	11.9

Total	$	4,014.9	100.0	$	4,386.5	100.0

Additional Performance Metrics for Fiscal Fourth Quarter and Year Ended November 2, 2024

	Revenue by Geographic Region (unaudited)
	Quarter Ended
	November 2, 2024			October 28, 2023
	Revenue		% **	Revenue		% **
Americas	$	852.2	75.8	$	801.4	71.0
Europe, Middle East and Africa		150.7	13.4		164.1	14.5
Asia Pacific		121.2	10.8		164.0	14.5
Total	$	1,124.1	100.0	$	1,129.5	100.0

	Revenue by Geographic Region (unaudited)
	Year Ended
	November 2, 2024			October 28, 2023
	Revenue		% **	Revenue		% **
Americas	$	2,951.9	73.5	$	3,110.3	70.9
Europe, Middle East and Africa		648.9	16.2		643.1	14.7
Asia Pacific		414.1	10.3		633.1	14.4
Total	$	4,014.9	100.0	$	4,386.5	100.0

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Ciena reports fiscal fourth quarter 2024 financial results

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