Filing Flows › Ciena (CIEN) › Q2 FY26 › vs Q1 FY26
Ciena (CIEN) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Ciena's revenue rose $144M (+10%) from $1.4B in Q1 FY26 to $1.6B in Q2 FY26. The biggest changes: Products +$81.9M (+7%); Routing and Switching +$48.2M (+38%); Implementation +$11.8M (+17%). Gross margin 44.0% against 43.8% (+0.2 pts).
Ciena, Q2 FY26: revenue $1.6B (+40% year over year), operating margin 15.1%, net earnings $218M, operating cash flow $260M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 44.0% | 43.8% | +0.2 pts |
| Operating margin | 15.1% | 13.3% | +1.9 pts |
| Net margin | 13.9% | 10.5% | +3.4 pts |
| Free cash flow margin | 13.9% | 10.8% | +3.1 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Optical Networking | $1.1B | $1.0B | $76.7M | +7% |
| Platform Software and Services | $93.9M | $93.4M | $494K | +0.5% |
| Maintenance, Support, and Learning | $89.3M | $87.6M | $1.7M | +2% |
| Blue Planet Automation Software and Services | $23.4M | $20.4M | $2.9M | +14% |
| Products | $1.3B | $1.2B | $81.9M | +7% |
| Routing and Switching | $174M | $126M | $48.2M | +38% |
| Implementation | $79.7M | $67.9M | $11.8M | +17% |
| Advisory and Enablement | $10.4M | $8.6M | $1.9M | +22% |
| Revenue | $1.6B | $1.4B | $144M | +10% |
| Gross profit | $692M | $626M | $66.0M | +11% |
| Cost of revenue | $879M | $802M | $77.7M | +10% |
| Operating profit | $238M | $189M | $48.5M | +26% |
| Operating expenses | $454M | $436M | $17.6M | +4% |
| Pre-tax earnings | $231M | $181M | $49.9M | +28% |
| Other expense, net | $6.8M | $8.3M | −$1.5M | -18% |
| Research & development | $238M | $221M | $16.4M | +7% |
| Sales & marketing | $150M | $149M | $1.2M | +0.8% |
| General & admin | $61.2M | $59.2M | $2.0M | +3% |
| Other operating costs | $4.5M | $6.5M | −$2.0M | -31% |
| Net earnings | $218M | $150M | $67.9M | +45% |
| Income tax | $12.8M | $30.8M | −$18.0M | -58% |
| Depreciation & amortization | $38.4M | $37.0M | $1.4M | +4% |
| Share-based compensation | $55.5M | $49.8M | $5.6M | +11% |
| Working capital & other | $52.4M | $9.5M | $42.9M | +451% |
| Operating cash flow | $260M | $228M | $32.1M | +14% |
| Free cash flow (OCF − capex) | $219M | $154M | $64.9M | +42% |
| Capital expenditures | $41.0M | $73.9M | −$32.8M | -44% |
Questions
How much did Ciena's revenue grow quarter over quarter in Q2 FY26?
Ciena's revenue rose $144M (+10%) from $1.4B in Q1 FY26 to $1.6B in Q2 FY26.
What drove Ciena's revenue change in Q2 FY26?
Products +$81.9M (+7%); Routing and Switching +$48.2M (+38%); Implementation +$11.8M (+17%).