Lumentum Holdings (LITE) Gross Margin — Quarter Ended Jun 29, 2024

For the current quarter, revenue and gross profit decreased compared to both the prior quarter and the same quarter last year. Gross margin improved slightly from the prior quarter but was lower than the year-ago period.

Gross margin takeaway

Quarter ended Jun 29, 2024 · FY2024 Q4

The sequential improvement in gross margin was accompanied by a larger decrease in cost of revenue relative to the decline in revenue.
Compared to the prior quarter, gross margin improved slightly, while compared to the same quarter one year earlier, gross margin was lower.

Gross margin snapshot

The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.

Gross margin

16.6%

Gross profit

$51.3M

Revenue

$308.3M

Cost of revenue

$257.0M

Quarter-over-quarter change

+0.4 pts

Year-over-year change

-7.5 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
Sep 30, 2023	$317.6M	$76.7M	$240.9M	24.1%
Dec 30, 2023	$366.8M	$64.0M	$302.8M	17.4%
Mar 30, 2024	$366.5M	$59.5M	$307.0M	16.2%
Jun 29, 2024	$308.3M	$51.3M	$257.0M	16.6%

Quarterly comparisons

Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.

Previous-quarter change

Mar 30, 2024

+0.4 pts

Year-over-year change

Jul 1, 2023

-7.5 pts

What the margin says

Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.

The sequential improvement in gross margin was accompanied by a larger decrease in cost of revenue relative to the decline in revenue.

Compared to the prior quarter, gross margin improved slightly, while compared to the same quarter one year earlier, gross margin was lower.

Monitor the company's cash and investment balances, which decreased from the prior year as noted in the filing.