Coherent (COHR) 10-K Summary — Year Ended Jun 30, 2024
Coherent Corp. is a vertically integrated manufacturer of materials, networking, and lasers for industrial, communications, electronics, and instrumentation markets. For the latest annual period, the company reported lower revenue compared to the prior year, a positive operating income, a net loss, and positive cash flow from operations.
Key takeaway
Year ended Jun 30, 2024 · FY2025 10-K
Coherent Corp. is a vertically integrated manufacturer of materials, networking, and lasers for industrial, communications, electronics, and instrumentation markets. For the latest annual period, the company reported lower revenue compared to the prior year, a positive operating income, a net loss, and positive cash flow from operations.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$4.7B
Revenue reported for the fiscal year.
Operating income
$96.1M
Income from operations reported for the year.
Net income
-$156.2M
Net income reported for the year.
Operating cash flow
$545.7M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2021 | $3.1B | n/a |
| Jun 30, 2022 | $3.3B | +6.8% |
| Jun 30, 2023 | $5.2B | +55.6% |
| Jun 30, 2024 | $4.7B | -8.8% |
Business overview
Coherent is a global leader in materials, networking, and lasers, operating as a vertically integrated manufacturing company. The company develops, manufactures, and markets engineered materials, optoelectronic components and devices, and lasers. Its products serve the industrial, communications, electronics, and instrumentation markets.
Financial performance
Revenue for the year decreased compared to the prior year, following a period of strong growth. Operating income remained positive, while net income was negative. Cash flow from operations was positive, indicating underlying cash generation despite the net loss.
Material risks
The company operates in a highly competitive and rapidly changing environment, and many risk factors are beyond its control. New risk factors can arise without timely awareness, and the company cannot predict or fully mitigate all potential impacts. Forward-looking statements may differ materially from actual results due to these uncertainties.
Liquidity and capital
Operating cash flow was positive, supporting liquidity. The company's management discussion includes a section on liquidity and capital resources, but no specific capital allocation decisions are detailed in the provided context.
What to watch
Monitor the next filing for revenue trends, as the most recent year showed a decline following prior growth, and for any further updates on restructuring or site consolidation efforts.