Filing Flows › Ciena (CIEN) › Q3 FY26 › vs Q3 FY25
Ciena (CIEN) Q3 FY26 vs Q3 FY25 (year over year)
Ciena's revenue rose $452M (+37%) from $1.2B in Q3 FY25 to $1.7B in Q3 FY26. The biggest changes: Products +$402M (+41%); Routing and Switching +$38.5M (+31%); Platform Software and Services +$8.7M (+10%). Gross margin 45.4% against 41.3% (+4.2 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 Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 45.4% | 41.3% | +4.2 pts |
| Operating margin | 18.0% | 6.0% | +12.0 pts |
| Net margin | 15.9% | 4.1% | +11.8 pts |
| Free cash flow margin | 7.0% | 11.0% | -4.1 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Optical Networking | $1.2B | $815M | $376M | +46% |
| Maintenance, Support, and Learning | $89.9M | $80.7M | $9.1M | +11% |
| Implementation | $87.9M | $65.9M | $22.0M | +33% |
| Blue Planet Automation Software and Services | $23.2M | $27.8M | −$4.6M | -17% |
| Products | $1.4B | $990M | $402M | +41% |
| Routing and Switching | $164M | $126M | $38.5M | +31% |
| Platform Software and Services | $98.7M | $90.0M | $8.7M | +10% |
| Advisory and Enablement | $15.9M | $13.6M | $2.2M | +16% |
| Revenue | $1.7B | $1.2B | $452M | +37% |
| Gross profit | $759M | $503M | $256M | +51% |
| Cost of revenue | $912M | $716M | $196M | +27% |
| Other income, net | $9.4M | −$7.7M | $17.2M | — |
| Operating profit | $301M | $73.5M | $228M | +310% |
| Operating expenses | $458M | $430M | $28.5M | +7% |
| Pre-tax earnings | $311M | $65.8M | $245M | +372% |
| Research & development | $237M | $212M | $24.8M | +12% |
| Sales & marketing | $154M | $149M | $5.2M | +4% |
| General & admin | $62.8M | $60.6M | $2.2M | +4% |
| Other operating costs | $4.6M | $8.3M | −$3.7M | -45% |
| Net earnings | $266M | $50.3M | $216M | +430% |
| Income tax | $44.2M | $15.5M | $28.7M | +185% |
| Depreciation & amortization | $39.0M | $33.4M | $5.6M | +17% |
| Share-based compensation | $57.9M | $46.9M | $10.9M | +23% |
| Working capital & other | $167M | −$43.7M | $211M | — |
| Operating cash flow | $196M | $174M | $21.9M | +13% |
| Free cash flow (OCF − capex) | $116M | $135M | −$18.3M | -14% |
| Capital expenditures | $80.0M | $39.8M | $40.2M | +101% |
Questions
How much did Ciena's revenue grow year over year in Q3 FY26?
Ciena's revenue rose $452M (+37%) from $1.2B in Q3 FY25 to $1.7B in Q3 FY26.
What drove Ciena's revenue change in Q3 FY26?
Products +$402M (+41%); Routing and Switching +$38.5M (+31%); Platform Software and Services +$8.7M (+10%).