Financials overview
Coherent is a US-domestic filer — Form 10-K annually + 10-Q quarterly + 8-K event-driven + Form 4 insider real-time. Fiscal year ends Saturday closest to June 30 (52/53-week fiscal). All amounts in USD.
Status: All sub-pages are populated.
Filing regime
| Filing | Frequency | Use |
|---|---|---|
| Form 10-K | Annual (Aug for FY ending late June) | Full audited financials, MD&A, risk factors, capital structure |
| Form 10-Q | Quarterly | Unaudited interim financials |
| Form 8-K | Event-driven | Material agreements (NVDA $2B investment), earnings, capital actions |
| Schedule 13G/13D | Per holder ≥5% | Institutional ownership |
| Form 4 | Per insider transaction | Real-time insider activity (10b5-1 plans common) |
Segment structure
Through FY2025 Coherent reported Networking / Materials / Lasers; from FY2026 the structure was simplified to Datacenter & Communications / Industrial. Translation:
| FY2026 segment | Maps from (FY2025) | Drivers |
|---|---|---|
| Datacenter & Communications | Networking | InP EML/laser sources (AI-datacenter pull-through), datacom transceivers, ROADM/wave-shaper (telecom carrier capex), silicon photonics — dominant and growing |
| Industrial | Materials + Lasers | SiC substrates (EV power-electronics) + industrial fiber lasers, life-sciences instrumentation, additive manufacturing — slower-growing, more cyclical |
FY2025 segment trajectory (legacy reporting): Networking +49%, Lasers +3%, Materials −6%.
Capital structure (post-Coherent-Inc.-2022 deleveraging cycle)
The July 2022 Coherent Inc. acquisition was financed with substantial debt + up to $2.0B Series B Convertible Preferred (Bain Capital alone via the BCPE Watson SPV; optional conversion at $85.00; 5.00% PIK through year four — dividends fully waived November 2025) + a $575M public Series A Mandatory Convertible Preferred that converted on July 1, 2023. Post-acquisition deleveraging has been a multi-year focus. The March 2026 NVDA $2B common-stock injection (7,788,161 shares at $256.80, Section 4(a)(2) private placement, immediate voting and dilution) materially de-risks the balance sheet and provides capacity for the AI-photonics capex envelope.
Sub-pages
- Quarterly trend — last 8 quarters revenue, GM, opex, EPS (GAAP + non-GAAP)
- Segment revenue mix — Networking vs Materials vs Lasers; AI/non-AI splits
- Balance sheet — cash, debt, working capital; Series B Convertible Preferred (Bain Capital alone via BCPE Watson, $85 optional conversion, 5% PIK through year four, dividends waived); NVDA $2B common-stock stake
- Capex cycle — InP fab Sherman TX expansion, SiC substrate capacity, NVDA-driven 200G EML ramp
- Margins and pricing — InP EML ASPs, transceiver gross-margin profile, mix-shift to AI
- Coherent Inc. integration — acquisition financials ($7.01B); deleveraging trajectory
- Finisar integration — 2019 acquisition financials and integration learnings
- Comparable transactions — Lumentum comp; NVDA-direct strategic-investment comps
- DCF assumptions — capacity utilization, ASP trajectory, NVDA-customer concentration scenarios
- Earnings calls — most recent transcripts and management commitments