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Red Flags Detected

  • All Convertible Notes Now Convertible At Holders' Option (new) — Stock price exceeded 130% of conversion price for 20 of last 30 trading days; all notes reclassified to current liabilities and $757.8M of early conversion requests received post-period.
  • Huawei Revenue Loss May Be Permanent (worsened) — Filing now states company 'may never recover this demand' even if restrictions ease, as Huawei has shifted to competitors; language hardened from 'negatively impacted' to 'unable to earn revenue.'
  • New U.S. Trade Investigations (Section 232 Semiconductors, Critical Minerals, Robotics) (new) — Multiple investigations initiated in 2025 could result in additional tariffs or trade restrictions affecting supply chain, manufacturing inputs, and customer markets.
NASDAQ: LITE Lumentum Holdings Inc. 10-K

Lumentum swings to $524.8M operating income but posts $6.94B net loss on debt restructuring

Filed August 17, 2026 · Period ending June 27, 2026 · Compared to 10-K Aug 19, 2025 · ~2 min read

Key Changes

  • high

    Operating income swung to $524.8M from a $180.1M loss, but net loss widened to $6.94B (from $25.9M net income) driven by a $7.76B non-cash debt-extinguishment charge from exchanging ~$1.1B of convertible notes for 10.6M shares.

    MD&A: Debt Extinguishment verify on EDGAR →
  • high

    Revenue rose 83.2% to $3.01B (52-week vs 53-week fiscal year), driven by AI/cloud demand now outpacing supply and requiring allocation decisions; company investing in manufacturing capacity internally and with contract manufacturers.

    MD&A: Industry Conditions verify on EDGAR →
  • high

    Raised $2.0B net from Series A Convertible Preferred Stock issuance and $1.3B from 2032 Notes; cash balance rose to $2.04B from $520.7M, providing liquidity for debt conversions and capacity expansion.

    MD&A: Financing Activities verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Aug 20, 2026 · How we verify