Coherent Corp. stock research
FY2024 Q1
Coherent (COHR) Gross Margin — Quarter Ended Sep 30, 2023
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year. Gross margin improved slightly from the prior quarter but weakened significantly from a year ago.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2024 Q1
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year. Gross margin improved slightly from the prior quarter but weakened significantly from a year ago.
- The decline in cost of revenue was proportionally larger than the decline in revenue, leading to a slight gross margin improvement from the prior quarter.
- Compared to the prior quarter, revenue and gross profit were lower, but gross margin was higher. Compared to the same quarter last year, revenue, gross profit, and gross margin were all lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
29.1%
Gross profit
$306.9M
Revenue
$1.1B
Cost of revenue
$746.2M
Quarter-over-quarter change
+0.6 pts
Year-over-year change
-3.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $1.2B | $420.2M | $820.0M | 33.9% |
| Jun 30, 2023 | $1.2B | $343.4M | $861.7M | 28.5% |
| Sep 30, 2023 | $1.1B | $306.9M | $746.2M | 29.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
+0.6 pts
Year-over-year change
Sep 30, 2022
-3.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The decline in cost of revenue was proportionally larger than the decline in revenue, leading to a slight gross margin improvement from the prior quarter.
Compared to the prior quarter, revenue and gross profit were lower, but gross margin was higher. Compared to the same quarter last year, revenue, gross profit, and gross margin were all lower.
Monitor the trajectory of revenue relative to cost of revenue to assess whether gross margin can stabilize or improve further.