Infinera Corp ( (INFN) ) has released its Q4 earnings. Here is a breakdown of the information Infinera Corp presented to its investors.
Infinera Corporation is a global supplier of open optical networking solutions and advanced optical semiconductors, serving carriers, cloud operators, governments, and enterprises with innovative technologies for network bandwidth scaling and service automation.
Infinera Corp has announced its financial results for the fourth quarter and fiscal year 2024, highlighting a year-over-year growth in bookings and backlog, with a book-to-bill ratio of 1.1x for the fiscal year and 1.3x for the fourth quarter. The company also reported record revenue exposure to webscalers, significant design wins, and substantial awards for its ICE-X 400G and 800G pluggables. Additionally, Infinera launched the ICE-D to address opportunities driven by AI workloads and secured funding under the CHIPS & Science Act.
The company’s GAAP revenue for the fourth quarter was $414.4 million, a decrease from $453.5 million in the same quarter of the previous year. The GAAP gross margin stood at 38.0%, while the GAAP net loss for the quarter was $26.3 million, compared to a net income of $12.9 million in the fourth quarter of 2023. For the fiscal year, GAAP revenue was $1,418.4 million, with a GAAP net loss of $150.3 million. Non-GAAP results showed a gross margin of 38.4% for the quarter and a net income of $8.2 million.
Infinera’s strategic positioning is bolstered by its pending acquisition by Nokia, expected to be completed by the end of February 2025. The merger is anticipated to enhance Infinera’s scale and resources, positioning the company to drive innovation in the optical networking sector as AI and increased fiber deployments continue to shape the industry.
Looking ahead, Infinera’s management remains optimistic about the company’s strategic wins and the upcoming merger with Nokia, which is expected to provide greater scale and resources to capitalize on the growing demand for optical networking solutions in the AI era.