Ciena Corporation

CIEN Technology Communication Equipment

Ciena Corporation’s revenue for fiscal 2025 (year ended October 2025) was $4.8 billion, up 18.8% from fiscal 2024.

Revenue
+37.1%
EPS
+437.1%
Free cash flow
−13.6%
Total debt
+110.0%

Quarter to July 2026, against a year earlier

320.72 28.73 −8.22%
Market cap
$49.6B
P/E
69.3×
Fwd P/E
55.3×
Dividend yield
—
F-score
7/9
Altman Z
5.80
Beneish M
−2.92
Dividend safety
n/a

Ciena Corporation 10-Q filed Sep 3, 2026

Fiscal Q3 2026 · Period ended Aug 1, 2026 · Filed · accepted 3:57 PM ET · Document on sec.gov · Filing index

What changed

Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Jun 4, 2026: 24 added · 13 removed · 43 modified; 18 with only figures updated

  1. Modified · Business Momentum

    Our industry has been experiencing unprecedented increases in demand, in particular due to capital expenditures related to AI and other cloud-based applications. As a result, we experienced strong momentum and growth in fiscal 2025 that continued in the first half three quarters of fiscal 2026. As our sales to cloud providers grow, we are seeing a small number of those customers become a larger portion of our business across multiple revenue segments. Our revenue increased by 4037% to $1.61.7 billion in the secondthird quarter of fiscal 2026 as compared to $1.11.2 billion in the secondthird quarter of fiscal 2025, with orders for our products and services significantly exceeding our revenue. This dynamic, together with an industry-wide constrained supply environment, has resulted in historically high backlog. As part of our efforts to secure both long-term supply and demand, we have, and are seeking to continue to, enter into multi-year supply agreements with certain of our suppliers, some of which involve firm purchase commitments and prepayment arrangements, and long-term purchase arrangements with customers.