Management remarks
Call period: 2026 Q4 · 2026-08-11
Guidance: Michael E. Hurlston: Driven by sharp acceleration in AI revenue, the midpoint of our Q1 revenue guidance reaches our $1.25 billion target more than 1 quarter ahead of schedule.Demand and orders: Michael E. Hurlston: The demand signal for 2027 continues to be incredibly strong, and we have started the initial work to add capacity with contract manufacturers as well as continuing to increase output in our internal factories.Margins: Michael E. Hurlston: Additionally, our Q1 non-GAAP operating margin guidance exceeds the high end of our target model that we associated with this revenue level.Analyst Q&A
Analyst Vijay Rakesh asked: A good quarter and guide here. Just a quick question on the 200 gig per lane EML and CW, it looks like that's ramping very nicely. Is it fair to assume both the 200 gig EML and CW laser should be accretive to your margins? Management Michael E. Hurlston answered: Mr. Rakesh. Good to hear from you, my friend. Look, no change really in the forecast on the crossover. What we said is -- and I think you're referring to 200 gig per lane lasers. We have said that for us, we'd expect 200 gig EMLs to be the majority volume shipments by the middle of 2027. We just said in the prepared remarks that now 200 gig per lane EMLs are 25% of our mix. We'd expect it to be 50% or more of volume by midyear of 2027.管理层陈述
电话会期间：2026 Q4 · 2026-08-11
指引：迈克尔·E·赫尔斯顿：受AI收入大幅增长推动，我们第一季度收入指引的中点比原定计划提前一个多季度达到12.5亿美元的目标。需求与订单：迈克尔·E·赫尔斯顿：2027年的需求信号依然极强，我们已启动与合同制造商扩充产能的初步工作，并持续提升内部工厂的产出。利润率：迈克尔·E·赫尔斯顿：此外，我们第一季度非GAAP营业利润率指引高于我们针对该收入水平设定的目标模型的上限。分析师问答
分析师维杰·拉凯什询问200吉比特每通道的电吸收调制激光器（EML）和连续波（CW）激光器是否会增厚利润率。管理层成员迈克尔·E·赫尔斯顿回应称，目前200吉比特每通道的EML占公司产品组合的25%，预计到2027年中期，其出货量占比将达到50%或更高。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
