Filing Flows › Ciena (CIEN) › Q3 FY26 › vs Q2 FY26
Ciena (CIEN) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Ciena's revenue rose $100M (+6%) from $1.6B in Q2 FY26 to $1.7B in Q3 FY26. The biggest changes: Products +$100M (+8%); Routing and Switching −$9.9M (-6%); Advisory and Enablement +$5.4M (+52%). Gross margin 45.4% against 44.0% (+1.4 pts).
Ciena, Q3 FY26: revenue $1.7B (+37% year over year), operating margin 18.0%, net earnings $266M, operating cash flow $196M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 45.4% | 44.0% | +1.4 pts |
| Operating margin | 18.0% | 15.1% | +2.9 pts |
| Net margin | 15.9% | 13.9% | +2.0 pts |
| Free cash flow margin | 7.0% | 13.9% | -7.0 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Optical Networking | $1.2B | $1.1B | $91.5M | +8% |
| Maintenance, Support, and Learning | $89.9M | $89.3M | $565K | +0.6% |
| Implementation | $87.9M | $79.7M | $8.2M | +10% |
| Blue Planet Automation Software and Services | $23.2M | $23.4M | −$156K | -0.7% |
| Products | $1.4B | $1.3B | $100M | +8% |
| Routing and Switching | $164M | $174M | −$9.9M | -6% |
| Platform Software and Services | $98.7M | $93.9M | $4.8M | +5% |
| Advisory and Enablement | $15.9M | $10.4M | $5.4M | +52% |
| Revenue | $1.7B | $1.6B | $100M | +6% |
| Gross profit | $759M | $692M | $67.7M | +10% |
| Cost of revenue | $912M | $879M | $32.7M | +4% |
| Other income, net | $9.4M | −$6.8M | $16.3M | — |
| Operating profit | $301M | $238M | $63.3M | +27% |
| Operating expenses | $458M | $454M | $4.4M | +1% |
| Pre-tax earnings | $311M | $231M | $79.6M | +34% |
| Research & development | $237M | $238M | −$1.2M | -0.5% |
| Sales & marketing | $154M | $150M | $3.9M | +3% |
| General & admin | $62.8M | $61.2M | $1.6M | +3% |
| Other operating costs | $4.6M | $4.5M | $82K | +2% |
| Net earnings | $266M | $218M | $48.2M | +22% |
| Income tax | $44.2M | $12.8M | $31.4M | +244% |
| Depreciation & amortization | $39.0M | $38.4M | $614K | +2% |
| Share-based compensation | $57.9M | $55.5M | $2.4M | +4% |
| Working capital & other | $167M | $52.4M | $115M | +219% |
| Operating cash flow | $196M | $260M | −$63.4M | -24% |
| Free cash flow (OCF − capex) | $116M | $219M | −$102M | -47% |
| Capital expenditures | $80.0M | $41.0M | $38.9M | +95% |
Questions
How much did Ciena's revenue grow quarter over quarter in Q3 FY26?
Ciena's revenue rose $100M (+6%) from $1.6B in Q2 FY26 to $1.7B in Q3 FY26.
What drove Ciena's revenue change in Q3 FY26?
Products +$100M (+8%); Routing and Switching −$9.9M (-6%); Advisory and Enablement +$5.4M (+52%).