The earnings call revealed strong growth in revenue and several strategic advancements, including new product launches and successful debt reduction. However, challenges in the industrial markets and foreign exchange impacts on gross margin present areas of concern.

Company Guidance

During the call, Coherent Corp provided guidance for the first quarter of fiscal 2026, with expectations for revenue to range between $1.46 billion and $1.6 billion, reflecting the exclusion of approximately $20 million in revenue from the Aerospace and Defense business due to its anticipated sale. The non-GAAP gross margin is expected to be between 37.5% and 39.5%, with total operating expenses projected between $290 million and $310 million. The company anticipates a tax rate of 18% to 22% on a non-GAAP basis, and non-GAAP EPS is expected to be between $0.93 and $1.13. Coherent also shared progress on their new 6-inch indium phosphide production line, which commenced in August 2025, and discussed their expanded partnership with Apple, with revenue expected to begin in the second half of calendar 2026.

Record Revenue and Growth in Fiscal 2025

Full year revenue increased by approximately 23% year-over-year to a record $5.81 billion, driven by strong growth in the data center and communications business.

Significant Growth in Data Center and Communications

Data center revenue grew by 61% for the full year and 38% year-over-year in Q4. Communications revenue increased 23% for fiscal '25, with a 42% year-over-year increase in Q4.

Launch of New Products and Expansions

Initial revenue shipments of new 1.6T Transceivers and Optical Circuit Switch began in fiscal Q4, with further ramp expected. A new multiyear agreement with Apple for VCSEL products was also announced.

Successful Debt Reduction and Financial Health

Paid down $437 million in debt over the fiscal year, reducing the debt leverage ratio to 2x from 2.5x.

Indium Phosphide Production Milestone

Production began on the world's first 6-inch indium phosphide line in Sherman, Texas, expected to provide significant cost and volume advantages.

Coherent Corp (COHR) Earnings, Revenues Date & History

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COHR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2026 (Q1)	1.04 / -	0.74	―	―	―
Aug 13, 2025	2025 (Q4)	0.92 / 1.00	0.61	63.93% (+0.39)
May 07, 2025	2025 (Q3)	0.86 / 0.91	0.53	71.70% (+0.38)
Feb 05, 2025	2025 (Q2)	0.69 / 0.95	0.36	163.89% (+0.59)
Nov 06, 2024	2025 (Q1)	0.61 / 0.74	0.16	362.50% (+0.58)
Aug 15, 2024	2024 (Q4)	0.60 / 0.61	0.41	48.78% (+0.20)
May 06, 2024	2024 (Q3)	0.43 / 0.53	0.58	-8.62% (-0.05)
Feb 05, 2024	2024 (Q2)	0.26 / 0.36	0.95	-62.11% (-0.59)
Nov 06, 2023	2024 (Q1)	0.12 / 0.16	1.04	-84.62% (-0.88)
Aug 15, 2023	2023 (Q4)	0.38 / 0.41	0.98	-58.16% (-0.57)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

COHR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 13, 2025	$114.01	$91.65	-19.61%
May 07, 2025	$69.62	$70.59	+1.39%
Feb 05, 2025	$90.10	$100.46	+11.50%
Nov 06, 2024	$99.43	$109.45	+10.08%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.