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CIENA CORPCIEN

Sector
Other
Industry
Telephone & Telegraph Apparatus
Exchange
NYSE

Stock Price $CIEN

Latest filings

You are here#48 of 67 in Technology by market cap

Filing record · 2016–202610-K1010-Q338-K105

CIEN filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 105 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’16Apr ’16
  2. FY2018 annual report10-K · Dec ’18Dec ’18
  3. Leadership change8-K · Apr ’21Apr ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $4.77B
YoY changeLargest recent move+20.8%in FY23Latest +18.8%

3 older moves run past ±25% (largest +89.5%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All CIEN Financial Metrics61 metrics

Income Statement16

Balance Sheet27

Cash Flow14

Per Share4

02—Overview

CIENA CORP Financial Overview 2021–2025

Updated Jul 10, 2026

Ciena's order backlog nearly tripled to $5.0 billiona in FY2025, signaling an insatiable appetite for the optical networking hardware powering AI workloads. This surge in future demand cements a clear investment thesis: the company has successfully evolved from a cyclical telecom vendor into a critical infrastructure provider for cloud and data center interconnects. This operational pivot is reflected in the top line, as total revenue grew from $3.62 billion in FY2021 to $4.8 billion in FY2025.

The financial trajectory underscores a sharp turnaround. After an 8.5% revenue contraction in FY2024 driven by customer inventory digestion, Ciena rebounded with 18.8% growth in FY2025. This momentum accelerated further into the first half of FY2026, with Q2 2026 revenue surging 39.5% year-over-year to $1.57 billionb alongside gross margins expanding to 44.0%. The company also bolstered its AI networking capabilities by acquiring Nubis Communications in late FY2025. However, the market has aggressively priced in this hardware hyper-growth narrative. At the close of FY2025, Ciena traded at a premium 223.4x P/E ratio, commanding a $26.8 billion market cap at a stock price of $189.92.

Recent Developments (Q1 and Q2 2026)

Ciena accelerated its momentum through the first half of FY2026, highlighted by a profitability inflection. First-quarter revenue jumped 33.1% year-over-year to $1.43 billion, driving net income to $150.3 millionc. By Q2 2026, Routing and Switching revenue grew 87.9%, and net income climbed to $218.2 million from $9.0 million a year prior. Six-month operating cash flow reached $487.3 million.

In June 2026, management executed a $2.875 billiond offering of 0.00% convertible senior notes due 2031. Proceeds eliminated a $1.14 billion term loan, extended a revolving credit facility to October 2030, and funded share repurchases. Bulls contend this restructuring secures the balance sheet to actively scale supply chain capacity. Bears warn the equity is richly valued, trading at 630.2x earnings and a $75.5 billion market capitalization as of the Q2 2026 reporting date.

What to watch: returns on supply chain capacity investments; execution of convertible note hedges to prevent shareholder dilution.

03—Filings

Recent SEC Filings

  1. 8-KCIENA CORP 8-K Report, Financial Results (Sep 3, 2026)Ciena Corporation (CIEN) has filed an 8-K to report its financial results for the fiscal third quarter ended August 1, 2026. The filing primarily directs investors to the press release (Exhibit 99.1) and an accompanying investor presentation (Exhibit 99.2) for detailed financial information. These documents, released on September 3, 2026, will be discussed during an upcoming investor call. Investors should note that while this 8-K provides notification of the results, the detailed financial performance and forward-looking statements are contained within the furnished exhibits. The company emphasizes that information posted on its investor relations website may also be considered material, underscoring the importance of regularly monitoring that channel for updates.
  2. 8-KCIENA CORP 8-K Report, Material Agreement (Jun 11, 2026)CIENA CORP (CIEN) has announced the successful closing of its private offering of $2.875 billion in aggregate principal amount of 0.00% Convertible Senior Notes due 2031. The offering, which included an option exercise for additional notes, provides the company with significant capital. Net proceeds, after accounting for discounts, hedging costs, and warrant proceeds, are approximately $2.72 billion. The company has strategically deployed a portion of these proceeds to repurchase approximately $140 million of its common stock and repay $1.14 billion of its existing senior secured term loan, thereby reducing debt and potentially supporting the stock price. The remaining net proceeds are earmarked for general corporate purposes, including investments to enhance supply chain capacity, which is a key area for growth and operational efficiency in the current market. The convertible nature of the notes, with an initial conversion price of approximately $746.66 per share, presents potential future dilution but also flexibility for the company. The concurrent convertible note hedge and warrant transactions are designed to mitigate this dilution. Additionally, CIEN has amended its Credit Agreement, extending the maturity of its revolving credit facility to October 2030 and enhancing its flexibility.
  3. 8-KCIENA CORP 8-K Report, Corporate Update (Jun 8, 2026)Ciena Corporation (CIEN) announced on June 8, 2026, its intention to offer $2.0 billion in convertible senior notes due 2031, with an option to increase the offering by $300 million. These notes will be guaranteed by certain wholly-owned domestic subsidiaries. The company plans to use a portion of the proceeds to fund convertible note hedge transactions and repurchase up to $140 million of its common stock, while approximately $1.14 billion will be used to repay outstanding amounts under its senior secured term loan. The remainder will support general corporate purposes and supply chain capacity enhancements. In parallel, Ciena is amending its credit agreement to extend the maturity of its $300 million senior secured revolving credit facility to October 24, 2030. Key amendments include removing the credit spread adjustment, adding daily SOFR as an interest rate option, and adjusting the interest rate margins and commitment fees based on the company's total net leverage ratio. The effectiveness of both the note offering and the credit agreement amendment are cross-conditional, with the latter contingent upon the full repayment of the existing term loan.
  4. 8-KCIENA CORP 8-K Report, Financial Results (Jun 4, 2026)Ciena Corporation (CIEN) has filed an 8-K report on June 4, 2026, announcing its financial results for the fiscal second quarter ended May 2, 2026. The filing includes a press release (Exhibit 99.1) and an accompanying investor presentation (Exhibit 99.2), both of which contain the detailed financial performance and operational insights for the quarter. Investors are encouraged to review these furnished documents for a comprehensive understanding of Ciena's performance. The company will also host an investor call to further discuss these results. It's important to note that the information provided in the press release, investor presentation, and this 8-K item 2.02 will not be considered "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, nor will it be incorporated by reference into future registration statements. Ciena emphasizes that material information may be exclusively posted on the investor relations section of its website, www.ciena.com, as a disclosure channel.
  5. 8-KCIENA CORP 8-K Report, Shareholder Vote Results (Mar 31, 2026)Ciena Corporation (CIEN) held its 2026 annual meeting of stockholders on March 26, 2026, with key outcomes reported in this Form 8-K filing. The primary focus was on the election of directors, the ratification of its independent auditors, and a shareholder advisory vote on executive compensation. All presented proposals received overwhelming support from the company's shareholders, indicating strong alignment between management and the investing public on these critical corporate governance matters. Specifically, all director nominees were elected by a majority of the votes cast, demonstrating continued confidence in the board's leadership and strategy. Furthermore, the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2026 was ratified, and shareholders provided advisory approval for the named executive officer compensation. These results suggest a stable governance environment and shareholder approval of Ciena's current operational and compensation strategies.
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04—See also

Related Companies

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