000093639511/12025Q3FALSE249381xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:purecien:employeecien:segment00009363952024-11-032025-08-0200009363952025-08-290000936395us-gaap:ProductMember2025-05-042025-08-020000936395us-gaap:ProductMember2024-04-282024-07-270000936395us-gaap:ProductMember2024-11-032025-08-020000936395us-gaap:ProductMember2023-10-292024-07-270000936395us-gaap:ServiceMember2025-05-042025-08-020000936395us-gaap:ServiceMember2024-04-282024-07-270000936395us-gaap:ServiceMember2024-11-032025-08-020000936395us-gaap:ServiceMember2023-10-292024-07-2700009363952025-05-042025-08-0200009363952024-04-282024-07-2700009363952023-10-292024-07-270000936395us-gaap:ForeignExchangeForwardMember2025-05-042025-08-020000936395us-gaap:ForeignExchangeForwardMember2024-04-282024-07-270000936395us-gaap:ForeignExchangeForwardMember2024-11-032025-08-020000936395us-gaap:ForeignExchangeForwardMember2023-10-292024-07-270000936395us-gaap:InterestRateSwapMember2025-05-042025-08-020000936395us-gaap:InterestRateSwapMember2024-04-282024-07-270000936395us-gaap:InterestRateSwapMember2024-11-032025-08-020000936395us-gaap:InterestRateSwapMember2023-10-292024-07-2700009363952025-08-0200009363952024-11-0200009363952023-10-2800009363952024-07-270000936395us-gaap:CommonStockMember2024-11-020000936395us-gaap:AdditionalPaidInCapitalMember2024-11-020000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-11-020000936395us-gaap:RetainedEarningsMember2024-11-020000936395us-gaap:RetainedEarningsMember2024-11-032025-08-020000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-11-032025-08-020000936395us-gaap:CommonStockMember2024-11-032025-08-020000936395us-gaap:AdditionalPaidInCapitalMember2024-11-032025-08-020000936395us-gaap:CommonStockMember2025-08-020000936395us-gaap:AdditionalPaidInCapitalMember2025-08-020000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-08-020000936395us-gaap:RetainedEarningsMember2025-08-020000936395us-gaap:CommonStockMember2023-10-280000936395us-gaap:AdditionalPaidInCapitalMember2023-10-280000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-10-280000936395us-gaap:RetainedEarningsMember2023-10-280000936395us-gaap:RetainedEarningsMember2023-10-292024-07-270000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-10-292024-07-270000936395us-gaap:CommonStockMember2023-10-292024-07-270000936395us-gaap:AdditionalPaidInCapitalMember2023-10-292024-07-270000936395us-gaap:CommonStockMember2024-07-270000936395us-gaap:AdditionalPaidInCapitalMember2024-07-270000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-270000936395us-gaap:RetainedEarningsMember2024-07-270000936395cien:OpticalNetworkingMembercien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395cien:OpticalNetworkingMembercien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:OpticalNetworkingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:OpticalNetworkingMembercien:GlobalServicesMember2025-05-042025-08-020000936395cien:OpticalNetworkingMember2025-05-042025-08-020000936395cien:RoutingAndSwitchingMembercien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395cien:RoutingAndSwitchingMembercien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:RoutingAndSwitchingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:RoutingAndSwitchingMembercien:GlobalServicesMember2025-05-042025-08-020000936395cien:RoutingAndSwitchingMember2025-05-042025-08-020000936395cien:PlatformSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395cien:PlatformSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:PlatformSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:PlatformSoftwareandServicesMembercien:GlobalServicesMember2025-05-042025-08-020000936395cien:PlatformSoftwareandServicesMember2025-05-042025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:GlobalServicesMember2025-05-042025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMember2025-05-042025-08-020000936395cien:MaintenanceSupportAndTrainingMembercien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395cien:MaintenanceSupportAndTrainingMembercien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:MaintenanceSupportAndTrainingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:MaintenanceSupportAndTrainingMembercien:GlobalServicesMember2025-05-042025-08-020000936395cien:MaintenanceSupportAndTrainingMember2025-05-042025-08-020000936395cien:InstallationAndDeploymentMembercien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395cien:InstallationAndDeploymentMembercien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:InstallationAndDeploymentMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:InstallationAndDeploymentMembercien:GlobalServicesMember2025-05-042025-08-020000936395cien:InstallationAndDeploymentMember2025-05-042025-08-020000936395cien:ConsultingAndNetworkDesignMembercien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395cien:ConsultingAndNetworkDesignMembercien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:ConsultingAndNetworkDesignMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:ConsultingAndNetworkDesignMembercien:GlobalServicesMember2025-05-042025-08-020000936395cien:ConsultingAndNetworkDesignMember2025-05-042025-08-020000936395cien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395cien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395cien:GlobalServicesMember2025-05-042025-08-020000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredAtPointInTimeMember2025-05-042025-08-020000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2025-05-042025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2025-05-042025-08-020000936395cien:GlobalServicesMemberus-gaap:TransferredAtPointInTimeMember2025-05-042025-08-020000936395us-gaap:TransferredAtPointInTimeMember2025-05-042025-08-020000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredOverTimeMember2025-05-042025-08-020000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2025-05-042025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2025-05-042025-08-020000936395cien:GlobalServicesMemberus-gaap:TransferredOverTimeMember2025-05-042025-08-020000936395us-gaap:TransferredOverTimeMember2025-05-042025-08-020000936395cien:OpticalNetworkingMembercien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395cien:OpticalNetworkingMembercien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:OpticalNetworkingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:OpticalNetworkingMembercien:GlobalServicesMember2024-04-282024-07-270000936395cien:OpticalNetworkingMember2024-04-282024-07-270000936395cien:RoutingAndSwitchingMembercien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395cien:RoutingAndSwitchingMembercien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:RoutingAndSwitchingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:RoutingAndSwitchingMembercien:GlobalServicesMember2024-04-282024-07-270000936395cien:RoutingAndSwitchingMember2024-04-282024-07-270000936395cien:PlatformSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395cien:PlatformSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:PlatformSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:PlatformSoftwareandServicesMembercien:GlobalServicesMember2024-04-282024-07-270000936395cien:PlatformSoftwareandServicesMember2024-04-282024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:GlobalServicesMember2024-04-282024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMember2024-04-282024-07-270000936395cien:MaintenanceSupportAndTrainingMembercien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395cien:MaintenanceSupportAndTrainingMembercien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:MaintenanceSupportAndTrainingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:MaintenanceSupportAndTrainingMembercien:GlobalServicesMember2024-04-282024-07-270000936395cien:MaintenanceSupportAndTrainingMember2024-04-282024-07-270000936395cien:InstallationAndDeploymentMembercien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395cien:InstallationAndDeploymentMembercien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:InstallationAndDeploymentMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:InstallationAndDeploymentMembercien:GlobalServicesMember2024-04-282024-07-270000936395cien:InstallationAndDeploymentMember2024-04-282024-07-270000936395cien:ConsultingAndNetworkDesignMembercien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395cien:ConsultingAndNetworkDesignMembercien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:ConsultingAndNetworkDesignMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:ConsultingAndNetworkDesignMembercien:GlobalServicesMember2024-04-282024-07-270000936395cien:ConsultingAndNetworkDesignMember2024-04-282024-07-270000936395cien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395cien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395cien:GlobalServicesMember2024-04-282024-07-270000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-04-282024-07-270000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-04-282024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-04-282024-07-270000936395cien:GlobalServicesMemberus-gaap:TransferredAtPointInTimeMember2024-04-282024-07-270000936395us-gaap:TransferredAtPointInTimeMember2024-04-282024-07-270000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredOverTimeMember2024-04-282024-07-270000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2024-04-282024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2024-04-282024-07-270000936395cien:GlobalServicesMemberus-gaap:TransferredOverTimeMember2024-04-282024-07-270000936395us-gaap:TransferredOverTimeMember2024-04-282024-07-270000936395cien:OpticalNetworkingMembercien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395cien:OpticalNetworkingMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:OpticalNetworkingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:OpticalNetworkingMembercien:GlobalServicesMember2024-11-032025-08-020000936395cien:OpticalNetworkingMember2024-11-032025-08-020000936395cien:RoutingAndSwitchingMembercien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395cien:RoutingAndSwitchingMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:RoutingAndSwitchingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:RoutingAndSwitchingMembercien:GlobalServicesMember2024-11-032025-08-020000936395cien:RoutingAndSwitchingMember2024-11-032025-08-020000936395cien:PlatformSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395cien:PlatformSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:PlatformSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:PlatformSoftwareandServicesMembercien:GlobalServicesMember2024-11-032025-08-020000936395cien:PlatformSoftwareandServicesMember2024-11-032025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:GlobalServicesMember2024-11-032025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesMember2024-11-032025-08-020000936395cien:MaintenanceSupportAndTrainingMembercien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395cien:MaintenanceSupportAndTrainingMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:MaintenanceSupportAndTrainingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:MaintenanceSupportAndTrainingMembercien:GlobalServicesMember2024-11-032025-08-020000936395cien:MaintenanceSupportAndTrainingMember2024-11-032025-08-020000936395cien:InstallationAndDeploymentMembercien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395cien:InstallationAndDeploymentMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:InstallationAndDeploymentMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:InstallationAndDeploymentMembercien:GlobalServicesMember2024-11-032025-08-020000936395cien:InstallationAndDeploymentMember2024-11-032025-08-020000936395cien:ConsultingAndNetworkDesignMembercien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395cien:ConsultingAndNetworkDesignMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:ConsultingAndNetworkDesignMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:ConsultingAndNetworkDesignMembercien:GlobalServicesMember2024-11-032025-08-020000936395cien:ConsultingAndNetworkDesignMember2024-11-032025-08-020000936395cien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395cien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395cien:GlobalServicesMember2024-11-032025-08-020000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-11-032025-08-020000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-11-032025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-11-032025-08-020000936395cien:GlobalServicesMemberus-gaap:TransferredAtPointInTimeMember2024-11-032025-08-020000936395us-gaap:TransferredAtPointInTimeMember2024-11-032025-08-020000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredOverTimeMember2024-11-032025-08-020000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2024-11-032025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2024-11-032025-08-020000936395cien:GlobalServicesMemberus-gaap:TransferredOverTimeMember2024-11-032025-08-020000936395us-gaap:TransferredOverTimeMember2024-11-032025-08-020000936395cien:OpticalNetworkingMembercien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395cien:OpticalNetworkingMembercien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:OpticalNetworkingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:OpticalNetworkingMembercien:GlobalServicesMember2023-10-292024-07-270000936395cien:OpticalNetworkingMember2023-10-292024-07-270000936395cien:RoutingAndSwitchingMembercien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395cien:RoutingAndSwitchingMembercien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:RoutingAndSwitchingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:RoutingAndSwitchingMembercien:GlobalServicesMember2023-10-292024-07-270000936395cien:RoutingAndSwitchingMember2023-10-292024-07-270000936395cien:PlatformSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395cien:PlatformSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:PlatformSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:PlatformSoftwareandServicesMembercien:GlobalServicesMember2023-10-292024-07-270000936395cien:PlatformSoftwareandServicesMember2023-10-292024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:GlobalServicesMember2023-10-292024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesMember2023-10-292024-07-270000936395cien:MaintenanceSupportAndTrainingMembercien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395cien:MaintenanceSupportAndTrainingMembercien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:MaintenanceSupportAndTrainingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:MaintenanceSupportAndTrainingMembercien:GlobalServicesMember2023-10-292024-07-270000936395cien:MaintenanceSupportAndTrainingMember2023-10-292024-07-270000936395cien:InstallationAndDeploymentMembercien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395cien:InstallationAndDeploymentMembercien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:InstallationAndDeploymentMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:InstallationAndDeploymentMembercien:GlobalServicesMember2023-10-292024-07-270000936395cien:InstallationAndDeploymentMember2023-10-292024-07-270000936395cien:ConsultingAndNetworkDesignMembercien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395cien:ConsultingAndNetworkDesignMembercien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:ConsultingAndNetworkDesignMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:ConsultingAndNetworkDesignMembercien:GlobalServicesMember2023-10-292024-07-270000936395cien:ConsultingAndNetworkDesignMember2023-10-292024-07-270000936395cien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395cien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395cien:GlobalServicesMember2023-10-292024-07-270000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredAtPointInTimeMember2023-10-292024-07-270000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2023-10-292024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2023-10-292024-07-270000936395cien:GlobalServicesMemberus-gaap:TransferredAtPointInTimeMember2023-10-292024-07-270000936395us-gaap:TransferredAtPointInTimeMember2023-10-292024-07-270000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredOverTimeMember2023-10-292024-07-270000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2023-10-292024-07-270000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2023-10-292024-07-270000936395cien:GlobalServicesMemberus-gaap:TransferredOverTimeMember2023-10-292024-07-270000936395us-gaap:TransferredOverTimeMember2023-10-292024-07-270000936395srt:AmericasMember2025-05-042025-08-020000936395srt:AmericasMember2024-04-282024-07-270000936395srt:AmericasMember2024-11-032025-08-020000936395srt:AmericasMember2023-10-292024-07-270000936395us-gaap:EMEAMember2025-05-042025-08-020000936395us-gaap:EMEAMember2024-04-282024-07-270000936395us-gaap:EMEAMember2024-11-032025-08-020000936395us-gaap:EMEAMember2023-10-292024-07-270000936395srt:AsiaPacificMember2025-05-042025-08-020000936395srt:AsiaPacificMember2024-04-282024-07-270000936395srt:AsiaPacificMember2024-11-032025-08-020000936395srt:AsiaPacificMember2023-10-292024-07-270000936395country:US2025-05-042025-08-020000936395country:US2024-04-282024-07-270000936395country:US2024-11-032025-08-020000936395country:US2023-10-292024-07-270000936395cien:CloudProviderAMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2025-05-042025-08-020000936395cien:CloudProviderAMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2024-11-032025-08-020000936395cien:CloudProviderAMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2024-04-282024-07-270000936395cien:CloudProviderAMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-10-292024-07-270000936395cien:AttMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2025-05-042025-08-020000936395cien:AttMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2024-11-032025-08-020000936395cien:AttMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2024-04-282024-07-270000936395cien:AttMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-10-292024-07-270000936395us-gaap:ProductMember2025-08-020000936395us-gaap:ProductMember2024-11-020000936395us-gaap:ServiceMember2025-08-020000936395us-gaap:ServiceMember2024-11-0200009363952025-08-032025-08-020000936395us-gaap:EmployeeSeveranceMember2024-11-020000936395us-gaap:OtherRestructuringMember2024-11-020000936395us-gaap:EmployeeSeveranceMember2024-11-032025-08-020000936395us-gaap:OtherRestructuringMember2024-11-032025-08-020000936395us-gaap:EmployeeSeveranceMember2025-08-020000936395us-gaap:OtherRestructuringMember2025-08-020000936395us-gaap:EmployeeSeveranceMember2023-10-280000936395us-gaap:OtherRestructuringMember2023-10-280000936395us-gaap:EmployeeSeveranceMember2023-10-292024-07-270000936395us-gaap:OtherRestructuringMember2023-10-292024-07-270000936395us-gaap:EmployeeSeveranceMember2024-07-270000936395us-gaap:OtherRestructuringMember2024-07-270000936395us-gaap:USTreasuryAndGovernmentMember2025-08-020000936395us-gaap:CorporateDebtSecuritiesMember2025-08-020000936395us-gaap:BankTimeDepositsMember2025-08-020000936395us-gaap:CashAndCashEquivalentsMember2025-08-020000936395us-gaap:ShortTermInvestmentsMember2025-08-020000936395us-gaap:OtherLongTermInvestmentsMember2025-08-020000936395us-gaap:USTreasuryAndGovernmentMember2024-11-020000936395us-gaap:CorporateDebtSecuritiesMember2024-11-020000936395us-gaap:BankTimeDepositsMember2024-11-020000936395us-gaap:CashAndCashEquivalentsMember2024-11-020000936395us-gaap:ShortTermInvestmentsMember2024-11-020000936395us-gaap:OtherLongTermInvestmentsMember2024-11-020000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-08-020000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-08-020000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-08-020000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-08-020000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-11-020000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-11-020000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-11-020000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2024-11-032025-08-020000936395country:INus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2025-08-020000936395country:INus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2024-11-020000936395country:INus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2024-11-032025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2024-11-032025-08-020000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2022-04-300000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2025-08-020000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2024-11-020000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2023-01-310000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2024-11-020000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2025-08-020000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:NewTermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2023-12-310000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:NewTermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2025-08-020000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:NewTermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2024-11-020000936395cien:TermLoan2030Memberus-gaap:SecuredDebtMember2025-01-170000936395cien:RefinancedTermLoan2030Memberus-gaap:SecuredDebtMember2025-01-170000936395cien:RefinancedTermLoan2030Member2025-01-172025-01-170000936395cien:RefinancedTermLoan2030Membercien:VariableRateComponentOneMember2025-01-170000936395cien:RefinancedTermLoan2030Membercien:VariableRateComponentOneMember2025-01-172025-01-170000936395cien:RefinancedTermLoan2030Membercien:VariableRateComponentTwoMember2025-01-170000936395cien:RefinancedTermLoan2030Membercien:VariableRateComponentTwoMember2025-01-172025-01-170000936395cien:RefinancedTermLoan2030Memberus-gaap:SecuredDebtMember2025-08-020000936395cien:RefinancedTermLoan2030Memberus-gaap:SecuredDebtMember2024-11-020000936395cien:TermLoan2030Memberus-gaap:SecuredDebtMember2025-08-020000936395cien:TermLoan2030Memberus-gaap:SecuredDebtMember2024-11-020000936395us-gaap:SecuredDebtMember2023-10-292024-07-270000936395us-gaap:SecuredDebtMember2024-11-032025-08-020000936395cien:SeniorNotes400Due2030Memberus-gaap:SeniorNotesMember2022-01-180000936395cien:SeniorNotes400Due2030Memberus-gaap:SecuredDebtMember2025-08-020000936395cien:SeniorNotes400Due2030Memberus-gaap:SecuredDebtMember2024-11-020000936395cien:SeniorNotes400Due2030Memberus-gaap:SecuredDebtMember2023-10-292024-07-270000936395cien:SeniorNotes400Due2030Memberus-gaap:SecuredDebtMember2024-11-032025-08-020000936395cien:SeniorNotes400Due2030Member2025-08-020000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-11-020000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-11-020000936395us-gaap:AccumulatedTranslationAdjustmentMember2024-11-020000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-11-032025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-11-032025-08-020000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-11-032025-08-020000936395us-gaap:AccumulatedTranslationAdjustmentMember2024-11-032025-08-020000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-08-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-08-020000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-08-020000936395us-gaap:AccumulatedTranslationAdjustmentMember2025-08-020000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-10-280000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-10-280000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-10-280000936395us-gaap:AccumulatedTranslationAdjustmentMember2023-10-280000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-10-292024-07-270000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-10-292024-07-270000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-10-292024-07-270000936395us-gaap:AccumulatedTranslationAdjustmentMember2023-10-292024-07-270000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-07-270000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-07-270000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-07-270000936395us-gaap:AccumulatedTranslationAdjustmentMember2024-07-2700009363952024-10-022024-10-0200009363952024-10-020000936395cien:ProductCostsMember2025-05-042025-08-020000936395cien:ProductCostsMember2024-04-282024-07-270000936395cien:ProductCostsMember2024-11-032025-08-020000936395cien:ProductCostsMember2023-10-292024-07-270000936395cien:ServiceCostsMember2025-05-042025-08-020000936395cien:ServiceCostsMember2024-04-282024-07-270000936395cien:ServiceCostsMember2024-11-032025-08-020000936395cien:ServiceCostsMember2023-10-292024-07-270000936395us-gaap:CostOfSalesMember2025-05-042025-08-020000936395us-gaap:CostOfSalesMember2024-04-282024-07-270000936395us-gaap:CostOfSalesMember2024-11-032025-08-020000936395us-gaap:CostOfSalesMember2023-10-292024-07-270000936395us-gaap:ResearchAndDevelopmentExpenseMember2025-05-042025-08-020000936395us-gaap:ResearchAndDevelopmentExpenseMember2024-04-282024-07-270000936395us-gaap:ResearchAndDevelopmentExpenseMember2024-11-032025-08-020000936395us-gaap:ResearchAndDevelopmentExpenseMember2023-10-292024-07-270000936395us-gaap:SellingAndMarketingExpenseMember2025-05-042025-08-020000936395us-gaap:SellingAndMarketingExpenseMember2024-04-282024-07-270000936395us-gaap:SellingAndMarketingExpenseMember2024-11-032025-08-020000936395us-gaap:SellingAndMarketingExpenseMember2023-10-292024-07-270000936395us-gaap:GeneralAndAdministrativeExpenseMember2025-05-042025-08-020000936395us-gaap:GeneralAndAdministrativeExpenseMember2024-04-282024-07-270000936395us-gaap:GeneralAndAdministrativeExpenseMember2024-11-032025-08-020000936395us-gaap:GeneralAndAdministrativeExpenseMember2023-10-292024-07-270000936395us-gaap:OperatingExpenseMember2025-05-042025-08-020000936395us-gaap:OperatingExpenseMember2024-04-282024-07-270000936395us-gaap:OperatingExpenseMember2024-11-032025-08-020000936395us-gaap:OperatingExpenseMember2023-10-292024-07-270000936395us-gaap:RestrictedStockUnitsRSUMember2025-08-020000936395us-gaap:RestrictedStockUnitsRSUMember2024-11-032025-08-020000936395us-gaap:OperatingSegmentsMembercien:NetworkingPlatformsSegmentMember2025-05-042025-08-020000936395us-gaap:OperatingSegmentsMembercien:NetworkingPlatformsSegmentMember2024-04-282024-07-270000936395us-gaap:OperatingSegmentsMembercien:NetworkingPlatformsSegmentMember2024-11-032025-08-020000936395us-gaap:OperatingSegmentsMembercien:NetworkingPlatformsSegmentMember2023-10-292024-07-270000936395us-gaap:OperatingSegmentsMembercien:PlatformSoftwareandServicesSegmentMember2025-05-042025-08-020000936395us-gaap:OperatingSegmentsMembercien:PlatformSoftwareandServicesSegmentMember2024-04-282024-07-270000936395us-gaap:OperatingSegmentsMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-08-020000936395us-gaap:OperatingSegmentsMembercien:PlatformSoftwareandServicesSegmentMember2023-10-292024-07-270000936395us-gaap:OperatingSegmentsMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-05-042025-08-020000936395us-gaap:OperatingSegmentsMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-04-282024-07-270000936395us-gaap:OperatingSegmentsMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-08-020000936395us-gaap:OperatingSegmentsMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2023-10-292024-07-270000936395us-gaap:OperatingSegmentsMembercien:GlobalServicesMember2025-05-042025-08-020000936395us-gaap:OperatingSegmentsMembercien:GlobalServicesMember2024-04-282024-07-270000936395us-gaap:OperatingSegmentsMembercien:GlobalServicesMember2024-11-032025-08-020000936395us-gaap:OperatingSegmentsMembercien:GlobalServicesMember2023-10-292024-07-270000936395us-gaap:OperatingSegmentsMember2025-05-042025-08-020000936395us-gaap:OperatingSegmentsMember2024-04-282024-07-270000936395us-gaap:OperatingSegmentsMember2024-11-032025-08-020000936395us-gaap:OperatingSegmentsMember2023-10-292024-07-270000936395cien:NetworkingPlatformsSegmentMember2025-08-020000936395cien:PlatformSoftwareandServicesSegmentMember2025-08-020000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-08-020000936395cien:GlobalServicesMember2025-08-020000936395country:CA2025-08-020000936395country:CA2024-11-020000936395country:US2025-08-020000936395country:US2024-11-020000936395cien:OtherInternationalMember2025-08-020000936395cien:OtherInternationalMember2024-11-020000936395us-gaap:SubsequentEventMember2025-08-032025-08-290000936395us-gaap:SubsequentEventMember2025-08-290000936395srt:MinimumMembersrt:ScenarioForecastMember2025-08-032025-11-010000936395srt:MaximumMembersrt:ScenarioForecastMember2025-08-032025-11-010000936395us-gaap:EmployeeSeveranceMembersrt:ScenarioForecastMember2025-11-010000936395srt:ScenarioForecastMember2025-11-010000936395cien:IntangibleAssetAbandonmentMembersrt:ScenarioForecastMember2025-11-010000936395cien:DinoDipernaMember2025-05-042025-08-020000936395cien:BrodieGageMember2025-05-042025-08-020000936395cien:BrodieGageMember2025-08-020000936395cien:DinoDipernaMember2025-08-02

000093639510/312026Q1FALSEhttp://fasb.org/us-gaap/2025#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2025#AccruedLiabilitiesCurrent282xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:purecien:segment00009363952025-11-022026-01-3100009363952026-02-270000936395us-gaap:ProductMember2025-11-022026-01-310000936395us-gaap:ProductMember2024-11-032025-02-010000936395us-gaap:ServiceMember2025-11-022026-01-310000936395us-gaap:ServiceMember2024-11-032025-02-0100009363952024-11-032025-02-010000936395us-gaap:ForeignExchangeForwardMember2025-11-022026-01-310000936395us-gaap:ForeignExchangeForwardMember2024-11-032025-02-010000936395us-gaap:InterestRateSwapMember2025-11-022026-01-310000936395us-gaap:InterestRateSwapMember2024-11-032025-02-0100009363952026-01-3100009363952025-11-0100009363952024-11-0200009363952025-02-010000936395us-gaap:CommonStockMember2025-11-010000936395us-gaap:AdditionalPaidInCapitalMember2025-11-010000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-11-010000936395us-gaap:RetainedEarningsMember2025-11-010000936395us-gaap:RetainedEarningsMember2025-11-022026-01-310000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-11-022026-01-310000936395us-gaap:CommonStockMember2025-11-022026-01-310000936395us-gaap:AdditionalPaidInCapitalMember2025-11-022026-01-310000936395us-gaap:CommonStockMember2026-01-310000936395us-gaap:AdditionalPaidInCapitalMember2026-01-310000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-310000936395us-gaap:RetainedEarningsMember2026-01-310000936395us-gaap:CommonStockMember2024-11-020000936395us-gaap:AdditionalPaidInCapitalMember2024-11-020000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-11-020000936395us-gaap:RetainedEarningsMember2024-11-020000936395us-gaap:RetainedEarningsMember2024-11-032025-02-010000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-11-032025-02-010000936395us-gaap:CommonStockMember2024-11-032025-02-010000936395us-gaap:AdditionalPaidInCapitalMember2024-11-032025-02-010000936395us-gaap:CommonStockMember2025-02-010000936395us-gaap:AdditionalPaidInCapitalMember2025-02-010000936395us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-02-010000936395us-gaap:RetainedEarningsMember2025-02-010000936395cien:OpticalNetworkingMembercien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395cien:OpticalNetworkingMembercien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:OpticalNetworkingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:OpticalNetworkingMembercien:GlobalServicesMember2025-11-022026-01-310000936395cien:OpticalNetworkingMember2025-11-022026-01-310000936395cien:RoutingAndSwitchingMembercien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395cien:RoutingAndSwitchingMembercien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:RoutingAndSwitchingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:RoutingAndSwitchingMembercien:GlobalServicesMember2025-11-022026-01-310000936395cien:RoutingAndSwitchingMember2025-11-022026-01-310000936395cien:PlatformSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395cien:PlatformSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:PlatformSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:PlatformSoftwareandServicesMembercien:GlobalServicesMember2025-11-022026-01-310000936395cien:PlatformSoftwareandServicesMember2025-11-022026-01-310000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:GlobalServicesMember2025-11-022026-01-310000936395cien:BluePlanetAutomationSoftwareandServicesMember2025-11-022026-01-310000936395cien:MaintenanceSupportAndLearningMembercien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395cien:MaintenanceSupportAndLearningMembercien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:MaintenanceSupportAndLearningMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:MaintenanceSupportAndLearningMembercien:GlobalServicesMember2025-11-022026-01-310000936395cien:MaintenanceSupportAndLearningMember2025-11-022026-01-310000936395cien:ImplementationMembercien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395cien:ImplementationMembercien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:ImplementationMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:ImplementationMembercien:GlobalServicesMember2025-11-022026-01-310000936395cien:ImplementationMember2025-11-022026-01-310000936395cien:AdvisoryAndEnablementMembercien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395cien:AdvisoryAndEnablementMembercien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:AdvisoryAndEnablementMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:AdvisoryAndEnablementMembercien:GlobalServicesMember2025-11-022026-01-310000936395cien:AdvisoryAndEnablementMember2025-11-022026-01-310000936395cien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395cien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395cien:GlobalServicesMember2025-11-022026-01-310000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredAtPointInTimeMember2025-11-022026-01-310000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2025-11-022026-01-310000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2025-11-022026-01-310000936395cien:GlobalServicesMemberus-gaap:TransferredAtPointInTimeMember2025-11-022026-01-310000936395us-gaap:TransferredAtPointInTimeMember2025-11-022026-01-310000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredOverTimeMember2025-11-022026-01-310000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2025-11-022026-01-310000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2025-11-022026-01-310000936395cien:GlobalServicesMemberus-gaap:TransferredOverTimeMember2025-11-022026-01-310000936395us-gaap:TransferredOverTimeMember2025-11-022026-01-310000936395cien:OpticalNetworkingMembercien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395cien:OpticalNetworkingMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:OpticalNetworkingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:OpticalNetworkingMembercien:GlobalServicesMember2024-11-032025-02-010000936395cien:OpticalNetworkingMember2024-11-032025-02-010000936395cien:RoutingAndSwitchingMembercien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395cien:RoutingAndSwitchingMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:RoutingAndSwitchingMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:RoutingAndSwitchingMembercien:GlobalServicesMember2024-11-032025-02-010000936395cien:RoutingAndSwitchingMember2024-11-032025-02-010000936395cien:PlatformSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395cien:PlatformSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:PlatformSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:PlatformSoftwareandServicesMembercien:GlobalServicesMember2024-11-032025-02-010000936395cien:PlatformSoftwareandServicesMember2024-11-032025-02-010000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:BluePlanetAutomationSoftwareandServicesMembercien:GlobalServicesMember2024-11-032025-02-010000936395cien:BluePlanetAutomationSoftwareandServicesMember2024-11-032025-02-010000936395cien:MaintenanceSupportAndLearningMembercien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395cien:MaintenanceSupportAndLearningMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:MaintenanceSupportAndLearningMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:MaintenanceSupportAndLearningMembercien:GlobalServicesMember2024-11-032025-02-010000936395cien:MaintenanceSupportAndLearningMember2024-11-032025-02-010000936395cien:ImplementationMembercien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395cien:ImplementationMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:ImplementationMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:ImplementationMembercien:GlobalServicesMember2024-11-032025-02-010000936395cien:ImplementationMember2024-11-032025-02-010000936395cien:AdvisoryAndEnablementMembercien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395cien:AdvisoryAndEnablementMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:AdvisoryAndEnablementMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:AdvisoryAndEnablementMembercien:GlobalServicesMember2024-11-032025-02-010000936395cien:AdvisoryAndEnablementMember2024-11-032025-02-010000936395cien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395cien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395cien:GlobalServicesMember2024-11-032025-02-010000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-11-032025-02-010000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-11-032025-02-010000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredAtPointInTimeMember2024-11-032025-02-010000936395cien:GlobalServicesMemberus-gaap:TransferredAtPointInTimeMember2024-11-032025-02-010000936395us-gaap:TransferredAtPointInTimeMember2024-11-032025-02-010000936395cien:NetworkingPlatformsSegmentMemberus-gaap:TransferredOverTimeMember2024-11-032025-02-010000936395cien:PlatformSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2024-11-032025-02-010000936395cien:BluePlanetAutomationSoftwareandServicesSegmentMemberus-gaap:TransferredOverTimeMember2024-11-032025-02-010000936395cien:GlobalServicesMemberus-gaap:TransferredOverTimeMember2024-11-032025-02-010000936395us-gaap:TransferredOverTimeMember2024-11-032025-02-010000936395srt:AmericasMember2025-11-022026-01-310000936395srt:AmericasMember2024-11-032025-02-010000936395us-gaap:EMEAMember2025-11-022026-01-310000936395us-gaap:EMEAMember2024-11-032025-02-010000936395srt:AsiaPacificMember2025-11-022026-01-310000936395srt:AsiaPacificMember2024-11-032025-02-010000936395country:US2025-11-022026-01-310000936395country:US2024-11-032025-02-010000936395cien:CloudProviderAMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2025-11-022026-01-310000936395cien:CloudProviderAMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2024-11-032025-02-010000936395cien:CloudProviderBMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2025-11-022026-01-310000936395cien:ServiceProviderMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2025-11-022026-01-310000936395cien:AttMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2024-11-032025-02-010000936395us-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2025-11-022026-01-310000936395us-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2024-11-032025-02-010000936395us-gaap:ProductMember2026-01-310000936395us-gaap:ProductMember2025-11-010000936395us-gaap:ServiceMember2026-01-310000936395us-gaap:ServiceMember2025-11-0100009363952026-02-012026-01-310000936395us-gaap:EmployeeSeveranceMember2025-11-010000936395us-gaap:OtherRestructuringMember2025-11-010000936395us-gaap:EmployeeSeveranceMember2025-11-022026-01-310000936395us-gaap:OtherRestructuringMember2025-11-022026-01-310000936395us-gaap:EmployeeSeveranceMember2026-01-310000936395us-gaap:OtherRestructuringMember2026-01-310000936395us-gaap:EmployeeSeveranceMember2024-11-020000936395us-gaap:OtherRestructuringMember2024-11-020000936395us-gaap:EmployeeSeveranceMember2024-11-032025-02-010000936395us-gaap:OtherRestructuringMember2024-11-032025-02-010000936395us-gaap:EmployeeSeveranceMember2025-02-010000936395us-gaap:OtherRestructuringMember2025-02-010000936395us-gaap:USTreasuryAndGovernmentMember2026-01-310000936395us-gaap:CorporateDebtSecuritiesMember2026-01-310000936395us-gaap:BankTimeDepositsMember2026-01-310000936395us-gaap:CashAndCashEquivalentsMember2026-01-310000936395us-gaap:ShortTermInvestmentsMember2026-01-310000936395us-gaap:OtherLongTermInvestmentsMember2026-01-310000936395us-gaap:USTreasuryAndGovernmentMember2025-11-010000936395us-gaap:CorporateDebtSecuritiesMember2025-11-010000936395us-gaap:BankTimeDepositsMember2025-11-010000936395us-gaap:CashAndCashEquivalentsMember2025-11-010000936395us-gaap:ShortTermInvestmentsMember2025-11-010000936395us-gaap:OtherLongTermInvestmentsMember2025-11-010000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:MoneyMarketFundsMember2026-01-310000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:FixedIncomeFundsMember2026-01-310000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:BankTimeDepositsMember2026-01-310000936395us-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMember2026-01-310000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:ForeignExchangeForwardMember2026-01-310000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:InterestRateSwapMember2026-01-310000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:MoneyMarketFundsMember2025-11-010000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:FixedIncomeFundsMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:FixedIncomeFundsMember2025-11-010000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:BankTimeDepositsMember2025-11-010000936395us-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:USGovernmentAgenciesDebtSecuritiesMember2025-11-010000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:ForeignExchangeForwardMember2025-11-010000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:InterestRateSwapMember2025-11-010000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2026-01-310000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395cien:MarketableSecuritiesNoncurrentMember2026-01-310000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:OtherNoncurrentAssetsMember2026-01-310000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395us-gaap:AccruedLiabilitiesMember2026-01-310000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueInputsLevel1Member2026-01-310000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueInputsLevel2Member2026-01-310000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueInputsLevel3Member2026-01-310000936395cien:OtherLongTermLiabilitiesMember2026-01-310000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2025-11-010000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395cien:MarketableSecuritiesNoncurrentMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395cien:MarketableSecuritiesNoncurrentMember2025-11-010000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:OtherNoncurrentAssetsMember2025-11-010000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395us-gaap:AccruedLiabilitiesMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395us-gaap:AccruedLiabilitiesMember2025-11-010000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueInputsLevel1Member2025-11-010000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueInputsLevel2Member2025-11-010000936395cien:OtherLongTermLiabilitiesMemberus-gaap:FairValueInputsLevel3Member2025-11-010000936395cien:OtherLongTermLiabilitiesMember2025-11-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2026-01-310000936395us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2025-11-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2025-11-022026-01-310000936395country:INus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2026-01-310000936395country:INus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2025-11-010000936395country:INus-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2025-11-022026-01-310000936395us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2026-01-310000936395us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2025-11-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2025-11-022026-01-310000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2023-01-310000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2026-01-310000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:TermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2025-11-010000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:NewTermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2023-12-310000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:NewTermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2025-11-010000936395us-gaap:DesignatedAsHedgingInstrumentMembercien:NewTermLoan2030Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:SecuredDebtMember2026-01-310000936395cien:RefinancedTermLoan2030Memberus-gaap:SecuredDebtMember2025-01-170000936395cien:RefinancedTermLoan2030Memberus-gaap:SecuredDebtMember2025-01-172025-01-170000936395cien:RefinancedTermLoan2030Memberus-gaap:SecuredDebtMember2026-01-310000936395cien:RefinancedTermLoan2030Memberus-gaap:SecuredDebtMember2025-11-010000936395cien:SeniorNotes400Due2030Memberus-gaap:SeniorNotesMember2022-01-180000936395cien:SeniorNotes400Due2030Memberus-gaap:SecuredDebtMember2026-01-310000936395cien:SeniorNotes400Due2030Memberus-gaap:SecuredDebtMember2025-11-010000936395cien:SeniorNotes400Due2030Member2026-01-310000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-11-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-11-010000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-11-010000936395us-gaap:AccumulatedTranslationAdjustmentMember2025-11-010000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-11-022026-01-310000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-11-022026-01-310000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-11-022026-01-310000936395us-gaap:AccumulatedTranslationAdjustmentMember2025-11-022026-01-310000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-01-310000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-01-310000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-01-310000936395us-gaap:AccumulatedTranslationAdjustmentMember2026-01-310000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-11-020000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-11-020000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-11-020000936395us-gaap:AccumulatedTranslationAdjustmentMember2024-11-020000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-11-032025-02-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-11-032025-02-010000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-11-032025-02-010000936395us-gaap:AccumulatedTranslationAdjustmentMember2024-11-032025-02-010000936395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-02-010000936395us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-02-010000936395us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-02-010000936395us-gaap:AccumulatedTranslationAdjustmentMember2025-02-0100009363952024-10-022024-10-0200009363952024-10-0200009363952026-01-312026-01-310000936395cien:ProductCostsMember2025-11-022026-01-310000936395cien:ProductCostsMember2024-11-032025-02-010000936395cien:ServiceCostsMember2025-11-022026-01-310000936395cien:ServiceCostsMember2024-11-032025-02-010000936395us-gaap:CostOfSalesMember2025-11-022026-01-310000936395us-gaap:CostOfSalesMember2024-11-032025-02-010000936395us-gaap:ResearchAndDevelopmentExpenseMember2025-11-022026-01-310000936395us-gaap:ResearchAndDevelopmentExpenseMember2024-11-032025-02-010000936395us-gaap:SellingAndMarketingExpenseMember2025-11-022026-01-310000936395us-gaap:SellingAndMarketingExpenseMember2024-11-032025-02-010000936395us-gaap:GeneralAndAdministrativeExpenseMember2025-11-022026-01-310000936395us-gaap:GeneralAndAdministrativeExpenseMember2024-11-032025-02-010000936395us-gaap:OperatingExpenseMember2025-11-022026-01-310000936395us-gaap:OperatingExpenseMember2024-11-032025-02-010000936395us-gaap:RestrictedStockUnitsRSUMember2026-01-310000936395us-gaap:RestrictedStockUnitsRSUMember2025-11-022026-01-310000936395us-gaap:OperatingSegmentsMembercien:NetworkingPlatformsSegmentMember2025-11-022026-01-310000936395us-gaap:OperatingSegmentsMembercien:NetworkingPlatformsSegmentMember2024-11-032025-02-010000936395us-gaap:OperatingSegmentsMembercien:PlatformSoftwareandServicesSegmentMember2025-11-022026-01-310000936395us-gaap:OperatingSegmentsMembercien:PlatformSoftwareandServicesSegmentMember2024-11-032025-02-010000936395us-gaap:OperatingSegmentsMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-022026-01-310000936395us-gaap:OperatingSegmentsMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2024-11-032025-02-010000936395us-gaap:OperatingSegmentsMembercien:GlobalServicesMember2025-11-022026-01-310000936395us-gaap:OperatingSegmentsMembercien:GlobalServicesMember2024-11-032025-02-010000936395us-gaap:OperatingSegmentsMember2025-11-022026-01-310000936395us-gaap:OperatingSegmentsMember2024-11-032025-02-010000936395us-gaap:MaterialReconcilingItemsMember2025-11-022026-01-310000936395us-gaap:MaterialReconcilingItemsMember2024-11-032025-02-010000936395us-gaap:OperatingSegmentsMembercien:NetworkingPlatformsSegmentMember2026-01-310000936395us-gaap:OperatingSegmentsMembercien:PlatformSoftwareandServicesSegmentMember2026-01-310000936395us-gaap:OperatingSegmentsMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2026-01-310000936395us-gaap:OperatingSegmentsMembercien:GlobalServicesMember2026-01-310000936395us-gaap:OperatingSegmentsMember2026-01-310000936395us-gaap:MaterialReconcilingItemsMember2026-01-310000936395us-gaap:OperatingSegmentsMembercien:NetworkingPlatformsSegmentMember2025-11-010000936395us-gaap:OperatingSegmentsMembercien:PlatformSoftwareandServicesSegmentMember2025-11-010000936395us-gaap:OperatingSegmentsMembercien:BluePlanetAutomationSoftwareandServicesSegmentMember2025-11-010000936395us-gaap:OperatingSegmentsMembercien:GlobalServicesMember2025-11-010000936395us-gaap:OperatingSegmentsMember2025-11-010000936395us-gaap:MaterialReconcilingItemsMember2025-11-010000936395country:CA2026-01-310000936395country:CA2025-11-010000936395country:US2026-01-310000936395country:US2025-11-010000936395cien:OtherInternationalMember2026-01-310000936395cien:OtherInternationalMember2025-11-010000936395us-gaap:SubsequentEventMember2026-02-012026-02-270000936395us-gaap:SubsequentEventMember2026-02-270000936395cien:BrodieGageMembercien:BrodieGageDecember2025PlanMember2025-11-022026-01-310000936395cien:BrodieGageMembercien:BrodieGageJuly2025PlanMember2025-11-022026-01-310000936395cien:BrodieGageMembercien:BrodieGageDecember2025PlanMember2026-01-310000936395cien:BrodieGageMembercien:BrodieGageJuly2025PlanMember2026-01-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DCD.C. 20549

FORM 10-Q

(Mark one)


☑			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~August~~January 231, ~~2025~~2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-36250

Ciena Corporation

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation or organization)

7035 Ridge Road, Hanover, MD

(Address of principal executive offices)

23-2725311

(I.R.S. Employer Identification No.)

21076

(Zip Code)

(410) 694-5700

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	CIEN	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☑

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:

Class						Outstanding as of ~~August~~February 2927, ~~2025~~2026
Common Stock, par value $0.01 per share						141,~~055~~398,~~908~~427

CIENA CORPORATION

INDEX

FORM 10-Q

			PAGENUMBER
PART I — FINANCIAL INFORMATION
Item 1. Financial Statements (unaudited)			3
Condensed Consolidated Statements of Operations for the Quarters and Nine Months Ended August 2, 2025 and July 27, 2024			3
Condensed Consolidated Statements of Operations for the Quarter Ended January 31, 2026 and February 1, 2025			3
Condensed Consolidated Statements of Comprehensive Income for the Quarters and Nine Months Ended August 2, 2025 and July 27, 2024			4
Condensed Consolidated Statements of Comprehensive Income for the Quarter Ended January 31, 2026 and February 1, 2025			4
Condensed Consolidated Balance Sheets at August 2, 2025 and November 2, 2024			5
Condensed Consolidated Balance Sheets at January 31, 2026 and November 1, 2025			5
Condensed Consolidated Statements of Cash Flows for the Nine Months Ended August 2, 2025 and July 27, 2024			6
Condensed Consolidated Statements of Cash Flows for the Three Months Ended January 31, 2026 and February 1, 2025			6
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Nine Months Ended August 2, 2025 and July 27, 2024			7
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three Months Ended January 31, 2026 and February 1, 2025			7
Notes to Condensed Consolidated Financial Statements			8
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			2524
Item 3. Quantitative and Qualitative Disclosures About Market Risk			3633
Item 4. Controls and Procedures			3733
PART II — OTHER INFORMATION
Item 1. Legal Proceedings			3734
Item 1A. Risk Factors			3734
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			3834
Item 3. Defaults Upon Senior Securities			3834
Item 4. Mine Safety Disclosures			3834
Item 5. Other Information			3834
Item 6. Exhibits			4036
Signatures			4137

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

CIENA CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

	Quarter Ended				~~Nine Months Ended~~
	August 2,		July 27,		August 2,		July 27,
	January 31,		February 1,
	2025		2024		2025		2024
	2026		2025
Revenue:
Products	$	~~976~~1,~~801~~179,870	$	~~729~~854,~~503~~785	$	~~2,730,167~~	$	~~2,266,596~~
Services	~~242~~247,~~584~~172		~~212~~217,~~805~~475		~~687,356~~		~~624,247~~
Total revenue	1,~~219~~427,~~385~~042		~~942~~1,~~308~~072,260		~~3,417,523~~		~~2,890,843~~
Cost of goods sold:
Products	~~580~~666,~~028~~574		~~433~~490,~~533~~804		~~1,620,816~~		~~1,315,737~~
Services	~~136~~134,~~278~~948		~~104~~109,~~830~~635		~~368,969~~		~~315,538~~
Total cost of goods sold	~~716~~801,~~306~~522		~~538~~600,~~363~~439		~~1,989,785~~		~~1,631,275~~
Gross profit	~~503~~625,~~079~~520		~~403~~471,~~945~~821		~~1,427,738~~		~~1,259,568~~
Operating expenses:
Research and development	~~211~~221,~~898~~458		~~188~~192,~~888~~663		~~619,429~~		~~571,537~~
Selling and marketing	148,~~724~~867		~~121~~136,~~520~~504		~~424,911~~		~~373,749~~
General and administrative	6059,~~596~~243		5853,~~248~~902		~~171,450~~		~~162,504~~
Significant asset impairments and restructuring costs	1,~~770~~498		1,~~361~~544		~~5,262~~		~~21,987~~
Amortization of intangible assets	64,~~556~~736		76,~~185~~545		~~19,646~~		~~22,384~~
Total operating expenses	429,544		377,202		1,240,698		1,152,161
Acquisition and integration costs	306		—
Income from operations	73,535		26,743		187,040		107,407
Total operating expenses	436,108		391,158
Interest and other income, net	15,090		14,013		34,539		36,460
Income from operations	189,412		80,663
Interest expense	(22,806)		(24,401)		(67,421)		(72,038)
Interest and other income, net	12,957		11,578
Loss on extinguishment and modification of debt	—		—		(729)		—
Interest expense	(21,254)		(22,918)
Income before income taxes	65,819		16,355		153,429		71,829
Loss on extinguishment and modification of debt	—		(729)
Provision for income taxes	15,511		2,125		49,580		24,901
Income before income taxes	181,115		68,594
Net income	$	50,308	$	14,230	$	103,849	$	46,928
Provision for income taxes	30,832		24,022
Basic net income per common share	$	0.35	$	0.10	$	0.73	$	0.32
Net income	$	150,283	$	44,572
Diluted net income per potential common share	$	0.35	$	0.10	$	0.72	$	0.32
Basic net income per common share	$	1.06	$	0.31
Weighted average basic common shares outstanding	141,846		144,394		142,437		144,876
Diluted net income per potential common share	$	1.03	$	0.31
Weighted average dilutive potential common shares outstanding	144,499		145,361		145,158		145,795
Weighted average basic common shares outstanding	141,676		142,880
Weighted average dilutive potential common shares outstanding	145,799		145,944

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

CIENA CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

(unaudited)

	Quarter Ended				~~Nine Months Ended~~
	August 2,		July 27,		August 2,		July 27,
	January 31,		February 1,
	2025		2024		2025		2024
	2026		2025
Net income	$	50150,~~308~~283	$	1444,~~230~~572	$	~~103,849~~	$	~~46,928~~
Unrealized gain (loss) on available-for-sale securities, net of tax	(31)		775		(430)		493
Unrealized loss on available-for-sale securities, net of tax	(37)		(345)
Unrealized gain (loss) on foreign currency forward contracts, net of tax	~~(882)~~5,628		(~~872~~4,484)		~~5,803~~		~~3,736~~
Unrealized loss on interest rate swaps, net of tax	(2,229)		(13,680)		(9,110)		(9,615)
Unrealized gain on interest rate swaps, net of tax	556		1,953
Change in cumulative translation adjustments	(210,~~092)~~165		(417,~~686~~702)		~~5,619~~		~~2,961~~
Other comprehensive income (loss)	(516,~~234)~~312		(1820,~~463~~578)		~~1,882~~		~~(2,425)~~
Total comprehensive income (loss)	$	45,074	$	(4,233)	$	105,731	$	44,503
Total comprehensive income	$	166,595	$	23,994

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

CIENA CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

(unaudited)

	August 2,2025		November 2,2024
	January 31,2026		November 1,2025
ASSETS
Current assets:
Cash and cash equivalents	$	1,~~055~~123,~~976~~413	$	~~934~~1,~~863~~091,952
Short-term investments	~~270~~176,~~380~~315		~~316~~216,~~343~~148
Accounts receivable, net of allowance for credit losses of $9.5 million and $9.9 million as of August 2, 2025 and November 2, 2024, respectively.	1,025,563		908,597
Accounts receivable, net of allowance for credit losses of $11.2 million as of both January 31, 2026 and November 1, 2025	967,408		975,856
Inventories, net	~~860~~845,~~403~~823		~~820~~826,~~430~~235
Prepaid expenses and other	~~473~~427,~~901~~918		~~564~~455,~~183~~316
Total current assets	3,~~686~~540,~~223~~877		3,~~544~~565,~~416~~507
Long-term investments	6469,~~397~~876		8057,~~920~~142
Equipment, building, furniture and fixtures, net	~~368~~437,~~348~~838		~~337~~386,~~722~~779
Operating right-of-use assets	40,~~347~~484		2738,~~417~~613
Goodwill	~~444~~521,~~828~~712		~~444~~521,~~707~~204
Other intangible assets, net	~~138~~212,~~673~~689		~~165~~224,~~020~~210
Deferred tax asset, net	~~851~~877,~~903~~995		~~886~~884,~~441~~889
Other long-term assets	~~154~~190,~~059~~888		~~154~~186,~~694~~323
Total assets	$	5,~~748~~892,~~778~~359	$	5,~~641~~864,~~337~~667
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	~~464~~547,~~684~~221	$	~~423~~542,~~401~~841
Accrued liabilities and other short-term obligations	~~436~~395,~~312~~881		~~393~~531,~~905~~081
Deferred revenue	~~196~~290,~~209~~418		~~156~~208,~~379~~936
Operating lease liabilities	1413,~~694~~273		1413,~~455~~956
Current portion of long-term debt	11,580		11,~~700~~580
Total current liabilities	1,~~123~~258,~~479~~373		~~999~~1,~~840~~308,394
Long-term deferred revenue	81100,~~057~~455		8194,~~240~~850
Other long-term obligations	~~195~~182,~~976~~329		~~185~~175,~~938~~426
Long-term operating lease liabilities	34,~~498~~100		2532,~~107~~516
Long-term debt, net	1,~~526~~524,~~467~~744		1,~~533~~524,~~074~~158
Total liabilities	23,~~961~~100,~~477~~001		23,~~825~~135,~~199~~344
Commitments and contingencies (Note 18)
Stockholders’ equity:
Preferred stock – par value $0.01; 20,000,000 shares authorized; zero shares issued and outstanding	—		—
Common stock – par value $0.01; 290,000,000 shares authorized; 141,342,527 and 142,656,116 shares issued and outstanding	1,413		1,427
Common stock – par value $0.01; 290,000,000 shares authorized; 141,452,656 and 141,016,300 shares issued and outstanding	1,415		1,410
Additional paid-in capital	65,~~020~~849,~~315~~492		65,~~154~~953,~~869~~057
Accumulated other comprehensive loss	(4438,~~829~~723)		(4655,~~711~~035)
Accumulated deficit	(3,~~189~~019,~~598~~826)		(3,~~293~~170,~~447~~109)
Total stockholders’ equity	2,~~787~~792,~~301~~358		2,~~816~~729,~~138~~323
Total liabilities and stockholders’ equity	$	5,~~748~~892,~~778~~359	$	5,~~641~~864,~~337~~667

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

CIENA CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands) (unaudited)

	Nine Months Ended
	Three Months Ended
	August 2,		July 27,
	January 31,		February 1,
	2025		2024
	2026		2025
Cash flows provided by operating activities:
Net income	$	~~103~~150,~~849~~283	$	4644,~~928~~572
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements	7632,~~637~~309		6824,~~997~~679
Share-based compensation expense	~~135~~49,~~696~~827		~~115~~40,~~433~~806
Amortization of intangible assets	2611,~~343~~521		308,~~675~~778
Deferred taxes	(217,~~709~~043)		(1917,~~909~~085)
Provision for inventory excess and obsolescence	3421,~~185~~832		3510,~~400~~918
Provision for warranty	168,~~302~~185		145,~~708~~697
Other	(1,~~838~~545)		11(6,~~968~~655)
Changes in assets and liabilities:
Accounts receivable	~~(116~~9,~~887)~~406		92(33,~~421~~454)
Inventories	(7341,~~493~~228)		78(35,~~220~~844)
Prepaid expenses and other	~~137~~40,~~440~~024		~~(221~~92,~~823)~~036
Operating lease right-of-use assets	82,~~759~~879		82,~~963~~902
Accounts payable, accruals and other obligations	83(130,~~354~~907)		(~~112~~49,~~352~~577)
Deferred revenue	3886,~~246~~013		2820,~~833~~311
Short- and long-term operating lease liabilities	(113,~~868~~911)		(134,~~290~~361)
Net cash provided by operating activities	~~435~~227,~~016~~645		~~165~~103,~~172~~723
Cash flows used in investing activities:
Payments for equipment, furniture and fixtures	(9573,~~373~~885)		(5326,~~098~~884)
Purchases of investments	(~~191~~39,~~335~~919)		(~~197~~97,~~303~~024)
Proceeds from sales and maturities of investments	~~261~~68,~~611~~882		~~114~~55,~~899~~061
Settlement of foreign currency forward contracts, net	(21,~~635)~~036		~~(362)~~1,757
Purchase of equity investment	—		(21,682)
Net cash used in investing activities	(43,886)		(67,090)
Net cash used in investing activities	(27,732)		(157,546)
Cash flows used in financing activities:
Proceeds from modification of debt, net	~~19,175~~—		—19,175
Cash paid for extinguishment of debt	~~(19,175)~~—		—(19,175)
Payment of long-term debt	~~(8,685)~~—		(52,~~850~~895)
Payment of debt issuance costs	~~(12)~~—		(~~2,554~~10)
Payment of finance lease obligations	(31,~~244~~158)		(31,~~004~~020)
Shares repurchased for tax withholdings on vesting of stock unit awards	(6090,~~043~~100)		(3325,~~450~~489)
Repurchases of common stock - repurchase program, net	(~~250~~80,~~035~~513)		(~~125~~81,~~816~~176)
Proceeds from issuance of common stock	3517,~~874~~226		3417,~~292~~133
Net cash used in financing activities	(~~286~~154,~~145~~545)		(~~136~~93,~~382~~457)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	602,247		1(3,~~499~~289)
Net increase (decrease) in cash, cash equivalents and restricted cash	~~121~~31,~~199~~461		(~~127~~60,~~257~~113)
Cash, cash equivalents and restricted cash at beginning of period	~~935~~1,~~026~~092,197		1935,~~010,786~~026
Cash, cash equivalents and restricted cash at end of period	$	1,~~056~~123,~~225~~658	$	~~883~~874,~~529~~913
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net	$	6816,~~243~~879	$	6425,~~999~~559
Cash paid during the period for income taxes, net	$	8410,~~898~~718	$	4110,~~736~~426
Operating lease payments	$	134,~~246~~516	$	144,~~672~~762
Non-cash investing and financing activities
Purchase of equipment in accounts payable	$	14,~~819~~910	$	354,~~316~~735
Repurchase of common stock in accrued liabilities from repurchase program, net	$	2,~~231~~579	$	14,~~762~~198
Operating right-of-use assets subject to lease liability	$	214,~~850~~894	$	51,~~326~~056

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

CIENA CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(in thousands, except share data)

(unaudited)

	Common StockShares	Par Value		AdditionalPaid-in-Capital		Accumulated OtherComprehensive Loss		AccumulatedDeficit		TotalStockholders’Equity
Balance at November 2, 2024	142,656,116	$	1,427	$	6,154,869	$	(46,711)	$	(3,293,447)	$	2,816,138
Balance at November 1, 2025	141,016,300	$	1,410	$	5,953,057	$	(55,035)	$	(3,170,109)	$	2,729,323
Net income	—	—		—		—		~~103~~150,~~849~~283		~~103~~150,~~849~~283
Other comprehensive income	—	—		—		116,~~882~~312		—		116,~~882~~312
Repurchase of common stock - repurchase program, net	(3371,~~268,252~~997)	(334)		(~~246~~80,~~062~~509)		—		—		(~~246~~80,~~095~~513)
Issuance of shares from employee equity plans	21,~~754~~206,~~659~~781	2713		3517,~~847~~213		—		—		3517,~~874~~226
Share-based compensation expense	—	—		~~135~~49,~~696~~827		—		—		~~135~~49,~~696~~827
Shares repurchased for tax withholdings on vesting of stock unit awards	(~~799~~398,~~996~~428)	(84)		(6090,~~035~~096)		—		—		(6090,~~043~~100)
Balance at August 2, 2025	141,342,527	$	1,413	$	6,020,315	$	(44,829)	$	(3,189,598)	$	2,787,301
Balance at January 31, 2026	141,452,656	$	1,415	$	5,849,492	$	(38,723)	$	(3,019,826)	$	2,792,358

	Common StockShares	Par Value		AdditionalPaid-in-Capital		Accumulated OtherComprehensive Loss		AccumulatedDeficit		TotalStockholders’Equity
Balance at October 28, 2023	144,829,938	$	1,448	$	6,262,083	$	(37,767)	$	(3,377,403)	$	2,848,361
Balance at November 2, 2024	142,656,116	$	1,427	$	6,154,869	$	(46,711)	$	(3,293,447)	$	2,816,138
Net income	—	—		—		—		4644,~~928~~572		4644,~~928~~572
Other comprehensive loss	—	—		—		(220,~~425~~578)		—		(220,~~425~~578)
Repurchase of common stock - repurchase program, net	(21,~~415~~016,~~438~~970)	(2410)		(~~118~~79,~~243~~193)		—		—		(~~118~~79,~~267~~203)
Issuance of shares from employee equity plans	21,~~730~~186,~~328~~963	2711		3417,~~265~~122		—		—		3417,~~292~~133
Share-based compensation expense	—	—		~~115~~40,~~433~~806		—		—		~~115~~40,~~433~~806
Shares repurchased for tax withholdings on vesting of stock unit awards	(~~717~~297,~~955~~599)	(73)		(3325,~~443~~486)		—		—		(3325,~~450~~489)
Balance at July 27, 2024	144,426,873	$	1,444	$	6,260,095	$	(40,192)	$	(3,330,475)	$	2,890,872
Balance at February 1, 2025	142,528,510	$	1,425	$	6,108,118	$	(67,289)	$	(3,248,875)	$	2,793,379

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

CIENA CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

(1) INTERIM FINANCIAL STATEMENTS

The interim financial statements for Ciena Corporation and its wholly owned subsidiaries (“Ciena”) included herein have been prepared by Ciena, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”).

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States (“GAAP”) requires Ciena to make judgments, assumptions, and estimates that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Among other things, these estimates form the basis for judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from these estimates under different assumptions or conditions. To the extent that there are material differences between Ciena’s estimates and actual results, Ciena’s consolidated financial statements will be affected.

In the opinion of management, the financial statements included in this report reflect all normal recurring adjustments that Ciena considers necessary for the fair statement of the results of operations of Ciena for the interim periods covered and of the financial position of Ciena at the date of the interim balance sheets. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to SEC rules and regulations. The Condensed Consolidated Balance Sheet as of November 21, ~~2024~~2025 was derived from audited financial statements but does not include all disclosures required by GAAP. However, Ciena believes that the disclosures are adequate to understand the information presented herein. The operating results for interim periods are not necessarily indicative of the operating results for the entire year. These financial statements should be read in conjunction with Ciena’s audited consolidated financial statements and the notes thereto included in Ciena’s Annual Report on Form 10-K for the fiscal year ended November 21, ~~2024~~2025 (the “~~2024~~2025 Annual Report”).

Ciena has a 52 or 53-week fiscal year, with quarters ending on the Saturday nearest to the last day of January, April, July, and October, respectively, of each year. Fiscal ~~2025~~2026 isand ~~a 52-week fiscal year.~~ Fiscal ~~2024~~2025 ~~was~~are aeach 5352-week fiscal ~~year with the additional week occurring in the fourth quarter~~years.

(2) SIGNIFICANT ACCOUNTING POLICIES

There have been no material changes to Ciena’s significant accounting policies, compared to the accounting policies described in Note 1, Ciena Corporation and Significant Accounting Policies and Estimates, in “Notes to Consolidated Financial Statements” in Item 8 of Part II of the ~~2024~~2025 Annual Report.

Accounting Standards - Not Yet Effective

In ~~November~~December 2023, the FASB issued ASU No. 2023-0709 (“ASU 2023-0709”), ~~Segment~~Income ~~Reporting~~Taxes (Topic ~~280~~740): ~~Improvements~~Improvement to ~~Reportable~~Income ~~Segment~~Tax Disclosures, to ~~improve~~enhance ~~reportable~~the ~~segment~~transparency ~~disclosure~~and ~~requirements,~~decision ~~primarily~~usefulness ~~through~~of ~~enhanced~~income tax disclosures ~~about~~to ~~significant~~decision ~~segment expenses~~makers. ASU 2023-0709 is effective for ~~Ciena’s~~annual ~~fiscal~~periods ~~2025~~beginning ~~Annual~~after ~~Report~~December on15, ~~Form~~2024, ~~10-K~~and will result in changes to certain income tax disclosures including substantially more information on a ~~retrospective~~disaggregated basis., ~~Ciena~~but isit ~~currently~~does ~~evaluating~~not ~~the~~affect ~~impact~~recognition or measurement of ~~this~~income ~~ASU~~taxes and therefore is not expected to have a material effect on ~~its~~our ~~segment~~consolidated ~~disclosures~~financial statements. The amendments are applied on a prospective basis; however, retrospective application is permitted.

In December 2023, the FASB issued ASU No. 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. ASU 2023-09 allows for adoption using either a prospective or retrospective method. Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU No. 2024-03 (“ASU 2024-03”), Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027; however, early adoption is permitted. ASU 2024-03 allows for adoption using either a prospective or retrospective method. Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

In July 2025, the FASB issued ASU No. 2025-05 (“ASU 2025-05”), Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, to introduce a practical expedient for all entities, which simplifies the calculation required for estimating credit losses and assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods; however, early adoption is permitted. ASU 2025-25 allows for adoption using a prospective method. Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU No. 2025-06 (“ASU 2025-06”), Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40) to modernize the accounting for software costs that are accounted for under Subtopic 350-40 by shifting away from prescriptive and sequential software development stages to an incremental and iterative method when capitalizing software costs. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

In December 2025, the FASB issued ASU No. 2025-11 (“ASU 2025-11”), Interim Reporting (Topic 270): Narrow-Scope Improvements, to improve the navigability of required interim disclosures, clarify when that guidance applies, and provide additional guidance on what disclosures should be provided in interim reporting periods. ASU 2025-11 is effective for interim reporting periods with annual reporting periods beginning after December 15, 2027, early adoption is permitted. ASU 2025-11 allows for adoption using the prospective or retrospective method. Ciena is currently evaluating the impact of this ASU on its interim financial statements and related disclosures.

(3) REVENUE

Segment and Product Line Disaggregation of Revenue

Ciena’s disaggregated segment and product line revenue as presented below depicts the nature, amount, and timing of revenue and cash flows for similar groupings of Ciena’s various offerings. The sales cycle, contractual obligations, customer requirements, and go-to-market strategies may differ for each of its product categories, resulting in different economic risk profiles for each category. Ciena has the following operating segments for reporting purposes: (i) Networking Platforms; (ii) Platform Software and Services; (iii) Blue Planet Automation Software and Services; and (iv) Global Services. See Note 17 below.

The tables below set forth Ciena’s disaggregated revenue for the respective periods ~~indicated~~ (in thousands):

	Quarter Ended August 2, 2025
	Quarter Ended January 31, 2026
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
	Segment								Total
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services
Product lines:
Optical Networking	$	~~815~~1,~~497~~023,162	$	—	$	—	$	—	$	~~815~~1,~~497~~023,162
Routing and Switching	~~125~~126,~~857~~006		—		—		—		~~125~~126,~~857~~006
Platform Software and Services	—		8993,~~961~~384		—		—		8993,~~961~~384
Blue Planet Automation Software and Services	—		—		2720,~~805~~420		—		2720,~~805~~420
Maintenance Support and Training	—		—		—		80,743		80,743
Maintenance, Support, and Learning	—		—		—		87,551		87,551
Installation and Deployment	—		—		—		65,878		65,878
Implementation	—		—		—		67,949		67,949
Consulting and Network Design	—		—		—		13,644		13,644
Advisory and Enablement	—		—		—		8,570		8,570
Total revenue by product line	$	~~941~~1,~~354~~149,168	$	8993,~~961~~384	$	2720,~~805~~420	$	~~160~~164,~~265~~070	$	1,~~219~~427,~~385~~042
Timing of revenue recognition:
Products and services at a point in time	$	~~941~~1,~~354~~149,168	$	2429,~~281~~183	$	111,~~909~~894	$	916,~~806~~887	$	~~987~~1,~~350~~197,132
Services transferred over time	—		65,680		15,896		150,459		232,035
Products and services transferred over time	—		64,201		18,526		147,183		229,910
Total revenue by timing of revenue recognition	$	~~941~~1,~~354~~149,168	$	8993,~~961~~384	$	2720,~~805~~420	$	~~160~~164,~~265~~070	$	1,~~219~~427,~~385~~042

	Quarter Ended July 27, 2024
	Quarter Ended February 1, 2025
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
	Segment								Total
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services
Product lines:
Optical Networking	$	~~606~~727,~~845~~973	$	—	$	—	$	—	$	~~606~~727,~~845~~973
Routing and Switching	9293,~~692~~169		—		—		—		9293,~~692~~169
Platform Software and Services	—		8395,~~212~~067		—		—		8395,~~212~~067
Blue Planet Automation Software and Services	—		—		2526,~~791~~032		—		2526,~~791~~032
Maintenance Support and Training	—		—		—		74,344		74,344
Maintenance, Support, and Learning	—		—		—		74,573		74,573
Installation and Deployment	—		—		—		46,484		46,484
Implementation	—		—		—		47,682		47,682
Consulting and Network Design	—		—		—		12,940		12,940
Advisory and Enablement	—		—		—		7,764		7,764
Total revenue by product line	$	~~699~~821,~~537~~142	$	8395,~~212~~067	$	2526,~~791~~032	$	~~133~~130,~~768~~019	$	~~942~~1,~~308~~072,260
Timing of revenue recognition:
Products and services at a point in time	$	~~699~~821,~~537~~142	$	1828,~~766~~931	$	1110,~~614~~427	$	96,~~833~~133	$	~~739~~866,~~750~~633
Services transferred over time	—		64,446		14,177		123,935		202,558
Products and services transferred over time	—		66,136		15,605		123,886		205,627
Total revenue by timing of revenue recognition	$	~~699~~821,~~537~~142	$	8395,~~212~~067	$	2526,~~791~~032	$	~~133~~130,~~768~~019	$	~~942~~1,~~308~~072,260

	Nine Months Ended August 2, 2025
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,317,062	$	—	$	—	$	—	$	2,317,062
Routing and Switching	311,749		—		—		—		311,749
Platform Software and Services	—		270,469		—		—		270,469
Blue Planet Automation Software and Services	—		—		81,787		—		81,787
Maintenance Support and Training	—		—		—		234,758		234,758
Installation and Deployment	—		—		—		171,735		171,735
Consulting and Network Design	—		—		—		29,963		29,963
Total revenue by product line	$	2,628,811	$	270,469	$	81,787	$	436,456	$	3,417,523
Timing of revenue recognition:
Products and services at a point in time	$	2,628,811	$	75,260	$	32,846	$	23,783	$	2,760,700
Services transferred over time	—		195,209		48,941		412,673		656,823
Total revenue by timing of revenue recognition	$	2,628,811	$	270,469	$	81,787	$	436,456	$	3,417,523

	Nine Months Ended July 27, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	1,862,917	$	—	$	—	$	—	$	1,862,917
Routing and Switching	320,113		—		—		—		320,113
Platform Software and Services	—		258,402		—		—		258,402
Blue Planet Automation Software and Services	—		—		54,167		—		54,167
Maintenance Support and Training	—		—		—		225,869		225,869
Installation and Deployment	—		—		—		132,993		132,993
Consulting and Network Design	—		—		—		36,382		36,382
Total revenue by product line	$	2,183,030	$	258,402	$	54,167	$	395,244	$	2,890,843
Timing of revenue recognition:
Products and services at a point in time	$	2,183,030	$	69,149	$	15,530	$	29,904	$	2,297,613
Services transferred over time	—		189,253		38,637		365,340		593,230
Total revenue by timing of revenue recognition	$	2,183,030	$	258,402	$	54,167	$	395,244	$	2,890,843

•Networking Platforms revenue reflects sales of Ciena’s Optical Networking and Routing and Switching product lines.

•Optical Networking - includes the 6500 Packet-Optical Platform, the Waveserver® system, the 6500 Reconfigurable Line System (RLS), coherent pluggable transceivers, and other optical networking products. These products are often combined and sold as solutions that address network applications including cloud and AI networking, datacenter interconnect, long haul, metro, submarine connectivity, and managed optical fiber networks (MOFN).

•Routing and Switching - includes the 3000 ~~and~~family ~~5000 series~~ of service delivery platforms and 5000 family of service aggregation platforms, the 8100 Coherent IP networking platforms, virtualization software, and ~~passive optical network and~~ other routing and switching portfolio products. Ciena also uses certain of these products to create its out-of-band data center management (DCOM) solutions.

Revenue from this segment is included in product revenue on the Condensed Consolidated Statements of Operations.

•Platform Software and Services revenue reflects sales of Ciena’s Platform Software and Platform Services.

•Platform Software - includes Ciena’s Navigator Network Control SuiteTM domain controller solution and its applications, and legacy software solutions.

•Platform Services - includes ~~sales of~~ subscription, support, and consulting services related to Ciena’s software platforms, operating system software and enhanced software features embedded in each of the Networking Platforms product lines above.

Revenue from the software portion of this segment is included in product revenue on the Condensed Consolidated Statements of Operations. Revenue from services ~~portions~~portion of this segment is included in services revenue on the Condensed Consolidated Statements of Operations.

•Blue Planet Automation Software and Services revenue reflects sales of Blue Planet Automation Software and Blue Planet Services.

•Blue Planet Automation Software - includes inventory management, orchestration, route optimization and analysis, and unified assurance and analytics software.

~~•Blue~~10 ~~Planet Services - includes sales of subscription, installation, support, consulting and design services related to the Blue Planet Automation Platform.~~

11•Blue Planet Services - includes subscription, installation, support, consulting and design services related to the Blue Planet Automation Platform.

Revenue from the software portion of this segment is included in product revenue on the Condensed Consolidated Statements of Operations. Revenue from the services ~~portions~~portion of this segment is included in services revenue on the Condensed Consolidated Statements of Operations.

•Global Services revenue reflects sales of a broad range of Ciena’s services for ~~maintenance~~advisory ~~support~~ and ~~training~~enablement, ~~installation~~implementation, and ~~deployment~~maintenance, ~~and~~support, ~~consulting~~ and ~~network~~learning ~~design~~ activities.

Revenue from this segment is included in services revenue on the Condensed Consolidated Statements of Operations.

Revenue Recognition

•Revenue from the Networking Platforms segment includes, in addition to the products described above, sales of operating system software and enhanced software features embedded therein, which are each considered distinct performance obligations for which the revenue is generally recognized upfront at a point in time upon transfer of control.

•Revenue from software platforms typically reflects either perpetual or term-based software licenses, and these sales are considered distinct performance obligations where revenue is generally recognized upfront at a point in time upon transfer of control.

•Revenue from software subscription and support is recognized ratably over the period during which the services are performed.

•Revenue from professional services for ~~solution~~ customization, ~~software and solution support services~~consulting, ~~consulting~~ and design, ~~and build-operate-transfer~~ services relating to Ciena’s software offerings is recognized over time with Ciena applying the input method to determine the amount of revenue to be recognized in a given period. ~~Global Services are considered a distinct performance obligation where revenue is generally recognized over time.~~

•Revenue from maintenance and support is recognized ratably over the period during which the services are performed.

•Revenue from ~~installation~~implementation ~~and deployment~~ services and ~~consulting~~advisory and ~~network~~enablement ~~design~~ services is generally recognized over time with Ciena applying the input method to determine the amount of revenue to be recognized in a given period.

•Revenue from ~~training~~learning services is generally recognized at a point in time upon completion of the service.

For additional information on Ciena’s revenue recognition policy, see “Notes to Consolidated Financial Statements” in Item 8 of Part II of the ~~2024~~2025 Annual Report.

Geographic Disaggregation of Revenue

Ciena reports its sales geographically ~~using~~in the following markets: (i) the United States, Canada, the Caribbean and Latin America (“Americas”); (ii) Europe, Middle East and Africa (“EMEA”); and (iii) Asia Pacific, Japan and India (“APAC”). Within each geographic area, Ciena maintains specific teams or personnel that focus on a particular region, country, customer, or market vertical. These teams include sales management, account salespersons, and sales engineers, as well as services professionals and commercial management personnel. The following table reflects Ciena’s geographic distribution of revenue ~~based~~ principally based on the relevant location for Ciena’s delivery of products and performance of services.

For the periods indicated, Ciena’s geographic distribution of revenue was as follows (in thousands):

Quarter Ended

~~Nine Months Ended~~

August 2,

July 27,

August 2,

July 27,

January 31,

February 1,

2025

2024

2025

2024

2026

2025

Geographic distribution:

Americas

~~923~~1,~~627~~118,223

~~718~~795,~~605~~632

~~2,553,081~~

~~2,099,680~~

EMEA

~~186~~200,~~018~~587

~~135~~157,~~009~~916

~~535,519~~

~~498,212~~

APAC

~~109~~108,~~740~~232

88118,~~694~~712

~~328,923~~

~~292,951~~

Total revenue by geographic distribution

1,~~219~~427,~~385~~042

~~942~~1,~~308~~072,260

~~3,417,523~~

~~2,890,843~~

1211

Ciena’s revenue includes $~~882~~1.808 ~~million~~billion and $~~676~~752.05 million offrom ~~U.S.~~the ~~revenue~~United States for the ~~third~~first quarter of fiscal ~~2025~~2026 and ~~2024, respectively. For the nine months ended August 2,~~ 2025 ~~and July 27~~, ~~2024, U.S. revenue was $2.4 billion and $2.0 billion,~~ respectively. No other country accounted for 10% or more of total revenue for the periods indicated in the above table.

~~Ciena’s~~For ~~revenue from a cloud provider includes $218.0 million and $538.2 million for~~ the ~~third~~periods ~~quarter and nine months ended August 2~~indicated, ~~2025, respectively, and $137.2 million and $331.6 million for~~ the ~~third~~only quarter and nine months ended July 27, 2024, respectively. Revenue also includes $133.0 million and $361.4 million from AT&T for the third quarter and nine months ended August 2, 2025, respectively, and $113.1 million and $324.8 million for the third quarter and nine months ended July 27, 2024, respectively. These customers ~~purchased~~that ~~products from the Networking Platforms, Platform Software and Services, and Global Services operating segments for the periods presented. No other customer~~ accounted for 10% or more of total revenue ~~for~~were ~~the~~as ~~periods~~follows ~~presented.~~(in thousands):


	Quarter Ended
	January 31,		February 1,
	2026		2025
Cloud provider A	$	330,981	$	168,896
Cloud provider B	160,206		n/a*
Service provider A	185,804		n/a*
Service provider B	n/a*		111,024
Total	$	676,991	$	279,920

*Denotes revenue representing less than 10% of total revenue for the indicated period

Service provider A purchased products from each of Ciena’s operating segments for the periods presented. The other 10% customers included in the table above purchased products from Ciena’s Networking Platforms, Platform Software and Services, and Global Services operating segments for each of the periods presented.

Contract Balances

	Balance at August 2, 2025		Balance at November 2, 2024
Accounts receivable, net	$	1,025,563	$	908,597
Contract assets for unbilled accounts receivable, net	$	164,326	$	127,919
Deferred revenue	$	277,266	$	237,619

The following table provides information about receivables, contract assets, and contract liabilities (deferred revenue) from contracts with customers (in thousands):

Ciena’s contract assets represent unbilled accounts receivable, net where transfer of a product or service has occurred but invoicing is conditional upon completion of future performance obligations. These amounts are primarily related to installation and deployment and professional services arrangements where transfer of control has occurred, but Ciena has not yet invoiced the customer. Contract assets are included in prepaid expenses and other in the Condensed Consolidated Balance Sheets.


	Balance at		Balance at
	January 31, 2026		November 01, 2025
Accounts receivable, net	$	967,408	$	975,856
Long-term accounts receivable	$	27,359	$	28,610
Deferred revenue	$	390,873	$	303,786
Contract assets for unbilled accounts receivable, net	$	146,208	$	157,868

~~Contract~~Ciena’s ~~liabilities~~contract ~~consist~~assets ofrepresent ~~deferred~~unbilled ~~revenue~~accounts ~~and~~receivable, ~~represent~~net ~~advanced~~where ~~payments~~transfer ~~against~~of ~~non-cancelable~~a ~~customer~~product ~~orders~~or ~~received~~service ~~prior~~has tooccurred ~~revenue~~but ~~recognition.~~invoicing ~~Ciena~~is ~~recognized~~conditional ~~approximately~~upon ~~$134.6 million~~completion ~~and $130.5 million~~ of ~~revenue~~future ~~during~~performance ~~the~~obligations. ~~first~~These ~~nine~~amounts ~~months~~are ofprimarily ~~fiscal~~related ~~2025~~to implementation and ~~2024,~~professional ~~respectively,~~services ~~that~~arrangements ~~was~~where ~~included~~transfer ~~in the deferred revenue balance as~~ of ~~November 2,~~control ~~2024~~has ~~and October 28~~occurred, ~~2023,~~but ~~respectively.~~Ciena ~~Revenue~~has ~~recognized~~not ~~due~~yet toinvoiced ~~changes~~the incustomer. ~~transaction~~Contract ~~price~~assets ~~from~~are ~~performance~~included ~~obligations satisfied or partially satisfied~~ in ~~previous~~prepaid ~~periods~~expenses ~~was~~and ~~immaterial~~other ~~during~~on the ~~nine~~Condensed ~~months~~Consolidated ~~ended~~Balance ~~August 2, 2025 and July 27, 2024~~Sheets.

Contract liabilities consist of deferred revenue and represent advanced payments against non-cancelable customer orders received prior to revenue recognition. Ciena recognized approximately $88.2 million and $74.5 million of revenue during the first three months of fiscal 2026 and 2025, respectively, that was included in the deferred revenue balance at November 1, 2025 and November 2, 2024, respectively. Revenue recognized due to changes in transaction price from performance obligations satisfied or partially satisfied in previous periods was immaterial during the three months ended January 31, 2026 and February 1, 2025.

As of the dates indicated, deferred revenue is comprised of the following (in thousands):

	August 2,2025		November 2,2024
Products	$	33,476	$	19,017
Services	243,790		218,602
Total deferred revenue	277,266		237,619
Less current portion	(196,209)		(156,379)
Long-term deferred revenue	$	81,057	$	81,240


	January 31, 2026		November 1, 2025
Products	$	97,509	$	65,382
Services	293,364		238,404
Total deferred revenue	390,873		303,786
Less current portion	(290,418)		(208,936)
Long-term deferred revenue	$	100,455	$	94,850

Capitalized Contract Acquisition Costs

Capitalized contract acquisition costs consist of deferred sales commissions, and were $3332.4 9 million and $2837.4 million as of ~~August~~January 231, ~~2025~~2026 and November 21, ~~2024~~2025, respectively. Capitalized contract acquisition costs were included in (i) prepaid expenses and other, and (ii) other long-term assets on the Condensed Consolidated Balance Sheets. The amortization expense associated with these costs was $2610.0 8 million and $228.9 5 million during the first ~~nine~~three months of fiscal ~~2025~~2026 and ~~2024~~2025, respectively, and was included in selling and marketing expense on the Condensed Consolidated Statements of Operations.

Remaining Performance Obligations

Remaining ~~Performance~~performance ~~Obligations~~obligations (“RPO”) are comprised of non-cancelable customer purchase orders for products and services that are awaiting transfer of control for revenue recognition under the applicable contract terms. As of ~~August~~January 231, ~~2025~~2026, the aggregate amount of RPO was $2.03 billion. As of ~~August~~January 231, ~~2025~~2026, Ciena expects approximately 8285% of the RPO ~~balance~~ to be recognized as revenue within the next 12 months.

(4)SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS

Restructuring Costs

Ciena ~~has~~regularly ~~undertaken~~monitors aits ~~number~~spending ~~of restructuring activities intended~~ to ~~reduce~~optimize ~~expense~~operating expenses and to ~~align~~ensure that its ~~workforce~~strategic ~~and~~investments ~~costs~~are aligned with ~~market~~its ~~opportunities,~~highest-growth ~~product~~demand ~~development, and business strategies~~opportunities. The following table sets forth the restructuring activity and balance of the restructuring liability accounts, which are included in accrued liabilities and other short-term obligations on the Condensed Consolidated Balance Sheets for the ~~nine~~three months ended ~~August~~January 231, ~~2025~~2026 (in thousands):

	Workforcereduction		Other restructuring activities			Total
	Workforce restructuring		Other restructuring activities			Total
Balance at November 2, 2024	$	1,927	$	—		$	1,927
Balance at November 1, 2025	$	8,436	$	—		$	8,436
Charges	1,~~996~~010		~~3,266~~488		(1)	51,~~262~~498
Cash payments	(37,~~389~~840)		(~~3,266~~488)			(68,~~655~~328)
Balance at August 2, 2025	$	534	$	—		$	534
Balance at January 31, 2026	$	1,606	$	—		$	1,606
Current restructuring liabilities	$	~~534~~1,606	$	—		$	~~534~~1,606

(1) Primarily represents costs related to restructured real estate facilities.

The following table sets forth the restructuring activity and balance of the restructuring liability accounts, which are included in accrued liabilities and other short-term obligations on the Condensed Consolidated Balance Sheets for the ~~nine~~three months ended ~~July~~February 271, ~~2024~~2025 (in thousands):

	Workforcereduction			Other restructuring activities			Total
	Workforce restructuring			Other restructuring activities			Total
Balance at October 28, 2023	$	1,913		$	—		$	1,913
Balance at November 2, 2024	$	1,927		$	—		$	1,927
Charges	~~13,708~~278		~~(1)~~	81,~~279~~266		(21)	211,~~987~~544
Cash payments	(141,~~379~~762)			(81,~~279~~266)			(223,~~658~~028)
Balance at July 27, 2024	$	1,242		$	—		$	1,242
Balance at February 1, 2025	$	443		$	—		$	443
Current restructuring liabilities	$	~~1,242~~443		$	—		$	~~1,242~~443

~~(1)~~13 Reflects a global workforce reduction of approximately 390 employees during the nine months ended July 27, 2024 as part of a business optimization strategy to improve gross margin, constrain operating expense and redesign certain business processes.

(21) Primarily represents costs related to restructured real estate facilities ~~and the redesign of certain business processes associated with Ciena’s supply chain and distribution structure reorganization~~.

(5)INTEREST AND OTHER INCOME, NET

The components of interest and other income, net, are as follows for the periods indicated (in thousands):


	Quarter Ended
	January 31,		February 1,
	2026		2025
Interest income	$	14,391	$	13,710

Gains (losses) on non-hedge designated foreign currency forward contracts (1)	942		(2,873)
Foreign currency exchange gains (losses) (2)	(4,644)		1,240


Other	2,268		(499)
Interest and other income, net	$	12,957	$	11,578

	Quarter Ended				Nine Months Ended
	August 2,		July 27,		August 2,		July 27,
	2025		2024		2025		2024
Interest income	$	16,173	$	15,876	$	43,318	$	46,309
Gains (losses) on non-hedge designated foreign currency forward contracts(1)	744		519		(1,593)		2,517
Foreign currency exchange losses(2)	(1,796)		(1,611)		(4,799)		(11,215)
Other	(31)		(771)		(2,387)		(1,151)
Interest and other income, net	$	15,090	$	14,013	$	34,539	$	36,460

(1) Ciena has forward contracts in place to hedge its foreign exchange exposure in order to reduce the variability in various currencies of certain balance sheet items. These forwards are not designated as hedges for accounting purposes, and any net gain or loss associated with these derivatives is reported in interest and other income, net, on the Condensed Consolidated Statements of Operations.

(2) Ciena Corporation, as the U.S. parent entity, uses the U.S. Dollar as its functional currency; however, some of its foreign branch offices and subsidiaries use local currencies as their functional currencies. The related remeasurement adjustments were recorded in interest and other income, net, on the Condensed Consolidated Statements of Operations.

(6) INCOME TAXES

The effective tax rate for the ~~third~~first quarter of fiscal ~~2025~~2026 was ~~higher~~lower than the effective tax rate for the ~~third~~first quarter of fiscal ~~2024,~~2025. The decrease was primarily due to ~~the~~an ~~settlement~~income oftax ~~uncertain~~benefit ~~tax~~for ~~positions~~share-based compensation expense and change in ~~the~~mix ~~prior~~of ~~year~~earnings in jurisdictions with lower tax rates.

The ~~effective~~Organization for Economic Co-operation and Development (OECD) has introduced a framework to implement a global minimum tax ~~rate~~of 15% for certain highly profitable multinational companies, referred to as Pillar Two or the ~~first~~minimum ~~nine~~tax ~~months~~directive. While the Unites States has not enacted legislation to adopt Pillar Two, certain countries in which Ciena operates have enacted legislation and many aspects of Pillar Two were effective for Ciena beginning in fiscal 2025. ~~was~~Pillar ~~lower~~Two ~~than~~taxes are considered an alternative minimum tax accounted for as a period cost that could impact the effective tax rate ~~for~~in the ~~first~~year ~~nine~~the ~~months~~Pillar ofTwo ~~fiscal~~tax ~~2024~~obligation arises. Therefore, ~~primarily~~deferred ~~due~~taxes towill annot ~~income~~be recognized for the estimated effects of future minimum taxes. Pillar Two does not have a material effect on Ciena’s effective tax ~~benefit~~rate, ~~for~~financial ~~share-based~~results ~~compensation~~or ~~expense~~cash flows for fiscal 2026.

~~For~~On July 4, 2025, the ~~nine~~One ~~months~~Big ~~ended~~Beautiful ~~August 2,~~Bill ~~2025~~Act (the “OBBBA”) was enacted into law in the United States. The OBBBA includes provisions, such as the ~~impact~~permanent extension of certain expiring provisions of the ~~15%~~Tax ~~global~~Cuts ~~minimum~~and ~~tax~~Jobs Act, ~~referred~~modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions such as ~~Pillar~~bonus ~~Two~~depreciation and expensing of domestic research and experimental expenditures. The legislation has multiple effective dates, ~~was~~with certain provisions taking effect in fiscal 2025 and fiscal 2026 and others to be implemented through fiscal 2027. Ciena expects future cash tax savings, but does not expect a material toimpact on its future effective tax rate. The legislation will not have a material impact on Ciena’s consolidated financial statements in fiscal 2026.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted into law in the United States. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions taking effect in fiscal 2025 and others to be implemented through fiscal 2027. The legislation will not have a material impact on Ciena’s consolidated financial statements in fiscal 2025.

(7)CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS

As of the dates indicated, investments classified as available-for-sale are comprised of the following (in thousands):

	August 2, 2025
	Amortized Cost		Gross UnrealizedGains		Gross UnrealizedLosses		Estimated FairValue
U.S. government obligations	$	208,174	$	297	$	(3)	$	208,468
Corporate debt securities	120,919		207		—		121,126
Time deposits	92,547		2		—		92,549
	$	421,640	$	506	$	(3)	$	422,143
Included in cash equivalents	$	87,366	$	—	$	—	$	87,366
Included in short-term investments	270,085		298		(3)		270,380
Included in long-term investments	64,189		208		—		64,397
	$	421,640	$	506	$	(3)	$	422,143


	January 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government obligations	$	119,105	$	244	$	—	$	119,349
Corporate debt securities	123,152		273		—		123,425
Time deposits	81,920		5		—		81,925
	$	324,177	$	522	$	—	$	324,699

Included in cash equivalents	$	78,508	$	—	$	—	$	78,508
Included in short-term investments	175,988		327		—		176,315
Included in long-term investments	69,681		195		—		69,876
	$	324,177	$	522	$	—	$	324,699

November 2, 2024

November 1, 2025

Amortized Cost

Gross UnrealizedGains

Gross UnrealizedLosses

Estimated FairValue

U.S. government obligations

~~285~~147,~~492~~466

~~751~~304

~~(62)~~—

~~286~~147,~~181~~770

Corporate debt securities

~~111~~119,~~103~~808

~~137~~260

~~(97)~~—

~~111~~120,~~143~~068

Time deposits

9274,~~803~~984

~~(3)~~—

9274,~~804~~990

~~489~~342,~~398~~258

~~892~~570

~~(162)~~—

~~490~~342,~~128~~828

Included in cash equivalents

9269,~~865~~538

—

9269,~~865~~538

Included in short-term investments

~~315~~215,~~654~~786

~~734~~362

~~(45)~~—

~~316~~216,~~343~~148

Included in long-term investments

8056,~~879~~934

~~158~~208

~~(117)~~—

8057,~~920~~142

~~489~~342,~~398~~258

~~892~~570

~~(162)~~—

~~490~~342,~~128~~828

The following table summarizes the legal maturities of debt investments as of January 31, 2026 (in thousands):

	AmortizedCost		EstimatedFair Value
Less than one year	$	~~357~~254,~~451~~496	$	~~357~~254,~~746~~823
Due in 1-2 years	6469,~~189~~681		6469,~~397~~876
	$	~~421~~324,~~640~~177	$	~~422~~324,~~143~~699

(8)FAIR VALUE MEASUREMENTS

As15 ~~of the dates indicated, the following tables summarize the assets and liabilities that are recorded at fair value on a recurring basis (in thousands):~~

As of the dates indicated, the following tables summarize the assets and liabilities that were recorded at fair value on a recurring basis (in thousands):

	August 2, 2025
	January 31, 2026
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	~~658~~665,~~774~~777	$	—	$	—	$	~~658~~665,~~774~~777
Bond mutual fund	~~116~~119,~~537~~119		—		—		~~116~~119,~~537~~119
Time deposits	9281,~~549~~925		—		—		9281,~~549~~925
Deferred compensation plan assets	1924,~~359~~823		—		—		1924,~~359~~823
U.S. government obligations	—		~~208~~119,~~468~~349		—		~~208~~119,~~468~~349
Corporate debt securities	—		~~121~~123,~~126~~425		—		~~121~~123,~~126~~425
Foreign currency forward contracts	—		59,~~685~~888		—		59,~~685~~888
Interest rate swaps	—		~~671~~435		—		~~671~~435
Total assets measured at fair value	$	~~887~~891,~~219~~644	$	~~335~~253,~~950~~097	$	—	$	1,~~223~~144,~~169~~741
Liabilities:
Foreign currency forward contracts	$	—	$	35,~~228~~060	$	—	$	35,~~228~~060
Interest rate swaps	—		1,~~220~~054		—		1,~~220~~054
Total liabilities measured at fair value	$	—	$	4,448	$	—	$	4,448
Deferred compensation plan liabilities	24,812		—		—		24,812
Total liabilities measured at fair value	$	24,812	$	6,114	$	—	$	30,926


	November 1, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	713,707	$	—	$	—	$	713,707
Bond mutual fund	117,931		—		—		117,931
Time deposits	74,990		—		—		74,990
Deferred compensation plan assets	21,179		—		—		21,179
U.S. government obligations	—		147,770		—		147,770
Corporate debt securities	—		120,068		—		120,068
Foreign currency forward contracts	—		3,236		—		3,236


Total assets measured at fair value	$	927,807	$	271,074	$	—	$	1,198,881

Liabilities:
Foreign currency forward contracts	$	—	$	6,314	$	—	$	6,314
Forward starting interest rate swaps	—		1,345		—		1,345

Total liabilities measured at fair value	$	—	$	7,659	$	—	$	7,659

As of the dates indicated, the assets and liabilities above were presented on Ciena’s Condensed Consolidated Balance Sheets as follows (in thousands):

	November 2, 2024
	January 31, 2026
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	636,097	$	—	$	—	$	636,097
Cash equivalents	$	862,052	$	1,352	$	—	$	863,404
Bond mutual fund	112,703		—		—		112,703
Short-term investments	4,769		171,546		—		176,315
Time deposits	92,804		—		—		92,804
Prepaid expenses and other	—		9,888		—		9,888
Deferred compensation plan assets	16,519		—		—		16,519
Long-term investments	—		69,876		—		69,876
U.S. government obligations	—		286,181		—		286,181
Other long-term assets	24,823		435		—		25,258
Corporate debt securities	—		111,143		—		111,143
Total assets measured at fair value	$	891,644	$	253,097	$	—	$	1,144,741
Foreign currency forward contracts	—		2,149		—		2,149
Interest rate swaps	—		11,777		—		11,777
Total assets measured at fair value	$	858,123	$	411,250	$	—	$	1,269,373
Liabilities:
Foreign currency forward contracts	$	—	$	9,155	$	—	$	9,155
Accrued liabilities and other short-term obligations	$	—	$	5,060	$	—	$	5,060
Total liabilities measured at fair value	$	—	$	9,155	$	—	$	9,155
Other long-term obligations	24,812		1,054		—		25,866
Total liabilities measured at fair value	$	24,812	$	6,114	$	—	$	30,926

August 2, 2025

November 1, 2025

Level 1

Level 2

Level 3

Total

Assets:

Cash equivalents

~~862~~901,~~021~~077

~~656~~99

—

~~862~~901,~~677~~176

Short-term investments

5,~~839~~551

~~264~~210,~~541~~597

—

~~270~~216,~~380~~148

Prepaid expenses and other

—

53,~~685~~236

—

53,~~685~~236

Long-term investments

—

6457,~~397~~142

—

6457,~~397~~142

Other long-term assets

1921,~~359~~179

~~671~~—

—

2021,~~030~~179

Total assets measured at fair value

~~887~~927,~~219~~807

~~335~~271,~~950~~074

—

1,~~223~~198,~~169~~881

Liabilities:

Accrued liabilities and other short-term obligations

—

36,~~228~~314

—

36,~~228~~314

Other long-term obligations

—

1,~~220~~345

—

1,~~220~~345

Total liabilities measured at fair value

—

47,~~448~~659

—

47,~~448~~659

	November 2, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	832,239	$	9,426	$	—	$	841,665
Short-term investments	9,365		306,978		—		316,343
Prepaid expenses and other	—		2,149		—		2,149
Long-term investments	—		80,920		—		80,920
Other long-term assets	16,519		11,777		—		28,296
Total assets measured at fair value	$	858,123	$	411,250	$	—	$	1,269,373
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	9,155	$	—	$	9,155
Total liabilities measured at fair value	$	—	$	9,155	$	—	$	9,155

Ciena did not have any transfers between Level 1 and Level 2 fair value measurements during the periods presented.

(9) INVENTORIES

As of the dates indicated, inventories are comprised of the following (in thousands):

	August 2,2025		November 2,2024
	January 31,2026		November 1,2025
Raw materials	$	~~642~~596,~~706~~008	$	~~542~~593,~~785~~783
Work-in-process	3533,~~611~~998		3235,~~219~~051
Finished goods	~~261~~318,~~732~~547		~~324~~286,~~697~~050
Deferred cost of goods sold	4143,~~831~~213		2740,~~902~~759
Gross inventories	~~981~~991,~~880~~766		~~927~~955,~~603~~643
Reserve for inventory excess and obsolescence	(~~121~~145,~~477~~943)		(~~107~~129,~~173~~408)
Inventories, net	$	~~860~~845,~~403~~823	$	~~820~~826,~~430~~235

~~During~~17 the first nine months of fiscal 2025, Ciena recorded a provision for inventory excess and obsolescence of $34.2 million, primarily related to a decrease in the forecasted demand for certain Networking Platforms products. Deductions from the reserve for excess and obsolete inventory relate primarily to sales and disposal activities.

~~(10) DERIVATIVE~~During ~~INSTRUMENTS~~the first three months of fiscal 2026, Ciena recorded a provision for inventory excess and obsolescence of $21.8 million, primarily related to a decrease in the forecasted demand for certain products. Deductions from the reserve for excess and obsolete inventory relate primarily to sales and disposal activities.

(10) OTHER BALANCE SHEET DETAILS

As of the dates indicated, accrued liabilities and other short-term obligations are comprised of the following (in thousands):


	January 31, 2026		November 1, 2025
Compensation, payroll related tax and benefits (1)	$	152,223	$	281,542
Warranty	58,084		55,533
Vacation	33,176		33,708
Interest payable	9,833		6,101
Income taxes payable	8,529		10,729
Foreign currency forward contracts	5,059		6,314
Finance lease liabilities	4,968		4,741

Other	124,009		132,413
	$	395,881	$	531,081

(1) Reduction is primarily due to the timing of payments related to incentive compensation.

The following table summarizes the activity in Ciena’s accrued warranty for the periods indicated (in thousands):


	Beginning Balance		Current Period Provisions	Settlements	Ending Balance
Three Months Ended February 1, 2025	$	55,267	5,697	(5,495)	$	55,469
Three Months Ended January 31, 2026	$	55,533	8,185	(5,634)	$	58,084

(11) DERIVATIVE INSTRUMENTS

Foreign Currency Derivatives

Ciena conducts business globally ~~in many currencies,~~ and ~~thus~~ is exposed to foreign currency exchange rate changes. To limit this exposure, Ciena enters into foreign currency contracts. Ciena does not enter into such contracts for speculative purposes.

As of ~~August~~January 231, ~~2025~~2026 and November 21, ~~2024~~2025, Ciena had forward contracts to hedge its foreign exchange exposure in order to reduce variability in certain currencies for expenses principally related to research and development activities. The notional amount of these contracts was approximately $~~325~~455.32 million and $~~257~~431.04 million as of ~~August~~January 231, ~~2025~~2026 and November 21, ~~2024~~2025, respectively. These foreign exchange contracts have maturities of 24 months or less and have been designated as cash flow hedges.

As of ~~August~~January 231, ~~2025~~2026 and November 21, ~~2024~~2025, Ciena had forward contracts designated as net investment hedges to minimize the effect of foreign exchange rate movements on its net investments in foreign operations. The notional amount of these contracts was approximately $6360.0 million and $6562.40 million as of ~~August~~January 231, ~~2025~~2026 and November 21, ~~2024~~2025, respectively. These foreign exchange contracts have maturities of 36 months or less and have been designated as net investment hedges.

18As of January 31, 2026 and November 1, 2025, Ciena had forward contracts in place to hedge its foreign exchange exposure in order to reduce the variability in various currencies of certain balance sheet items. The notional amount of these contracts was approximately $48.0 million and $175.7 million as of January 31, 2026 and November 1, 2025, respectively. These foreign exchange contracts have maturities of 12 months or less and have not been designated as hedges for accounting purposes.

As of August 2, 2025 and November 2, 2024, Ciena had forward contracts in place to hedge its foreign exchange exposure in order to reduce the variability in various currencies of certain balance sheet items. The notional amount of these contracts was approximately $138.5 million and $201.2 million as of August 2, 2025 and November 2, 2024, respectively. These foreign exchange contracts have maturities of 12 months or less and have not been designated as hedges for accounting purposes.

Interest Rate Derivatives

Ciena is exposed to floating rates of interest on its term loan borrowings (see Note 12 below) and has hedged such risk by entering into floating-to-fixed interest rate swap arrangements (“interest rate swaps”).

In ~~April~~January ~~2022~~2023, Ciena entered into ~~forward starting~~ interest rate swaps to fix the Secured Overnight Financing Rate (“SOFR”) for ~~the first~~ $350.0 million of its floating rate debt at 23.~~968~~47% ~~from September 2023~~ through ~~September~~January ~~2025 (“2025 interest rate swaps”)~~2028. The total notional amount of ~~the~~such ~~2025~~swaps ~~interest~~in ~~rate~~effect ~~swaps~~ was $350.0 million as of ~~August~~January 231, ~~2025~~2026 and November 21, ~~2024~~2025.

In ~~January~~December 2023, Ciena entered into forward starting interest rate swaps to fix SOFR for an additional $350.0 million of its floating rate debt at 3.47287% from September 2025 through ~~January~~December 2028. The total notional amount of ~~these~~such ~~interest~~swaps ~~rate~~in ~~swaps~~effect was $350.0 million as of ~~August~~January 231, ~~2025~~2026 and November 21, ~~2024~~2025.

In December 2023, Ciena entered into forward starting interest rate swaps to fix SOFR for an additional $350.0 million of its floating rate debt at 3.287% from September 2025 through December 2028 (“2028 forward starting interest rate swaps”). The total notional amount of the 2028 forward starting interest rate swaps effective September 2025 was $350.0 million as of August 2, 2025 and November 2, 2024.

Ciena expects the variable rate payments to be received under the terms of these interest rate swaps to offset exactly the forecasted variable rate payments on the equivalent notional amount of the Refinanced 2030 Term Loan (as defined in Note 12 below). These derivative contracts have been designated as cash flow hedges.

Other information regarding Ciena’s derivatives is immaterial for separate financial statement presentation. See Note 5 and Note 8 above.

(11) LEASES

Operating leases included on the Condensed Consolidated Balance Sheets for the fiscal periods indicated were as follows (in thousands):

	Classification	Balance at August 2, 2025		Balance at November 2, 2024
Operating leases:
Operating ROU Assets	Operating right-of-use assets	$	40,347	$	27,417
Operating lease liabilities	Operating lease liabilities and Long-term operating lease liabilities	$	49,192	$	39,562

Ciena added two new 10-year operating leases to its portfolio in the second quarter of fiscal 2025. The addition of these operating leases increased both operating right-of-use (“ROU”) assets and lease liabilities for fiscal 2025.

(12) SHORT-TERM AND LONG-TERM DEBT

Outstanding Term Loan Payable

Refinanced 2030 Term Loan

~~Pursuant~~On toJanuary a17, ~~Credit Agreement~~2025, ~~dated~~Ciena ~~July~~entered ~~15,~~into ~~2014,~~a asRefinancing ~~amended~~Amendment ~~(the~~to “its Credit Agreement~~”),~~ byunder ~~and~~which ~~among~~ Ciena ~~Corporation,~~incurred ~~the~~a ~~lenders~~new ~~party~~single ~~thereto~~tranche ~~and~~of ~~Bank~~senior ofsecured ~~America,~~term ~~N.A.,~~loans asin ~~administrative~~an ~~agent~~aggregate ~~(the~~principal ~~“Administrative~~amount ~~Agent”),~~of ~~Ciena~~approximately ~~maintained~~$1.16 billion a(the ~~senior~~“Refinanced ~~secured~~2030 ~~term~~Term ~~loan~~Loan”). ~~with~~The anRefinanced ~~outstanding~~2030 ~~aggregate~~Term ~~principal~~Loan ~~amount,~~requires asCiena ofto ~~January~~make ~~17,~~installment ~~2025,~~payments of ~~approximately~~ $12.169 ~~billion~~million ~~and~~quarterly, ~~maturing~~or on$11.6 million ~~October 24~~annually, ~~2030~~with (the ~~“2030~~remaining ~~Term~~balance ~~Loan”)~~payable at maturity.

OnThe ~~January~~net ~~17,~~carrying ~~2025,~~value ~~Ciena~~of ~~Corporation, as borrower, and~~ Ciena’s ~~Communications,~~term ~~Inc.,~~loan ~~Ciena~~was ~~Government~~comprised ~~Solutions,~~of ~~Inc.,~~the ~~Ciena~~following ~~Communications International, LLC and Blue Planet Software, Inc.,~~ as ~~guarantors,~~of ~~entered~~the ~~into~~date aindicated ~~Refinancing~~(in thousands):


	January 31, 2026								November 1, 2025
	Principal Balance		Unamortized Discount		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
Refinanced 2030 Term Loan	$	1,146,720	$	(3,375)	$	(4,313)	$	1,139,032	$	1,138,619

~~Amendment~~Deferred todebt ~~Credit~~issuance ~~Agreement~~costs ~~with~~are ~~the~~amortized ~~lenders~~using ~~party thereto and~~ the ~~Administrative~~straight-line ~~Agent (the “Amendment”)~~method, ~~pursuant to~~ which ~~Ciena~~approximates ~~incurred~~the aeffect ~~new single tranche~~ of ~~senior~~the ~~secured~~effective ~~term~~interest ~~loans~~rate, inthrough anthe ~~aggregate~~maturity ~~principal amount~~ of ~~approximately $1.16 billion (~~the ~~“Refinanced~~term ~~2030 Term Loan”)~~loans. The ~~proceeds~~amortization of ~~the~~deferred ~~Refinanced~~debt ~~2030~~issuance ~~Term~~costs ~~Loan,~~for ~~together~~the ~~with~~term ~~cash~~loans onis ~~hand,~~included ~~were used to refinance~~ in ~~full the 2030 Term Loan, including accrued~~ interest, ~~and~~expense ~~pay transaction fees~~ and ~~expenses.~~was ~~The~~minimal ~~Amendment~~during ~~amends~~both the ~~Credit~~first ~~Agreement~~three ~~and~~months ~~provides~~of ~~that~~fiscal ~~the~~2026 ~~Refinanced~~and ~~2030~~fiscal ~~Term Loan will, among other things:~~2025.

~~•mature~~As onof ~~October~~January 31, 242026, the estimated fair value of the Refinanced 2030; Term Loan was $1.15 billion. Ciena’s term loan is categorized as Level 2 in the fair value hierarchy. Ciena estimated the fair value of its term loan using a market approach based on observable inputs, such as current market transactions involving comparable securities.

•amortize in equal quarterly installments in aggregate amounts equal to approximately 0.25% of the principal amount of the Refinanced 2030 Term Loan as of the Closing Date, with the balance payable at maturity;

•be subject to mandatory prepayment upon the occurrence of certain specified events substantially similar to the 2030 Term Loan, including upon the occurrence of certain specified events such as asset sales, debt issuances, and receipt of annual Excess Cash Flow (as defined in the Credit Agreement);

•bear interest, at Ciena’s election, at a per annum rate equal to (a) SOFR (subject to a floor of 0.00%) plus an applicable margin of 1.75%, or (b) a base rate (subject to a floor of 1.00%) plus an applicable margin of 0.75%;

•be repayable at any time at Ciena’s election; and

•except as described above or otherwise set forth in the Amendment, have substantially identical terms as the 2030 Term Loan.

Except as amended by the Amendment, the remaining terms of the Credit Agreement remain in full force and effect.

The net carrying value of the Ciena’s term loans were comprised of the following as of the date indicated (in thousands):

	August 2, 2025								November 2, 2024
	Principal Balance		Unamortized Discount		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
Refinanced 2030 Term Loan	$	1,149,615	$	(3,738)	$	(4,776)	$	1,141,101	$	—
2030 Term Loan	$	—	$	—	$	—	$	—	$	1,148,347

Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of the effective interest rate, through the maturity of the term loans. The amortization of deferred debt issuance costs for the term loans is included in interest expense and was approximately $0.7 million during both the first nine months of fiscal 2025 and fiscal 2024.

As of August 2, 2025, the estimated fair value of the Refinanced 2030 Term Loan was $1.15 billion. Ciena’s term loan is categorized as Level 2 in the fair value hierarchy. Ciena estimated the fair value of its term loan using a market approach based on observable inputs, such as current market transactions involving comparable securities.

Outstanding Senior Notes Payable

2030 Notes

On January 18, 2022, Ciena entered into an ~~indenture~~Indenture among Ciena, as issuer, certain domestic subsidiaries of Ciena, as guarantors, and U.S. Bank National Association, as trustee, pursuant to which Ciena issued $400.0 million in aggregate principal amount of 4.00% fixed-rate senior notes due 2030 (the “2030 Notes”).

The net carrying value of the 2030 Notes was comprised of the following as of the dates indicated (in thousands):

August 2, 2025

November 2, 2024

January 31, 2026

November 1, 2025

Principal Balance

Deferred Debt Issuance Costs

Net Carrying Value

2030 Notes

400,000

(32,~~054~~708)

~~396~~397,~~946~~292

~~396~~397,~~427~~119

2019

Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of the effective interest rate, through the maturity of the 2030 Notes. The amortization of deferred debt issuance costs for the 2030 Notes is included in interest expense and was ~~approximately~~minimal ~~$0.5 million~~ during both the first ~~nine~~three months of fiscal ~~2025~~2026 and fiscal ~~2024~~2025.

As of ~~August~~January 231, ~~2025~~2026, the estimated fair value of the 2030 Notes was $~~376~~384.50 million. The 2030 Notes are categorized as Level 2 in the fair value hierarchy. Ciena estimated the fair value of its 2030 Notes using a market approach based on observable inputs, such as current market transactions involving comparable securities.

(13) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in accumulated balances of other comprehensive income (“AOCI”), net of tax, for the ~~nine~~three months ended ~~August~~January 231, ~~2025~~2026 (in thousands):

	Unrealized Gain (Loss) on
	Available-for-sale Securities		Foreign Currency Forward Contracts		Interest Rate Swaps		Cumulative Translation Adjustment		Total
Balance at November 2, 2024	$	798	$	(4,880)	$	8,668	$	(51,297)	$	(46,711)
Balance at November 1, 2025	$	422	$	(3,803)	$	(1,054)	$	(50,600)	$	(55,035)
Other comprehensive gain (loss) before reclassifications	(~~430~~37)		25,~~871~~733		(21,~~826)~~511		510,~~619~~165		517,~~234~~372
Amounts reclassified from AOCI	—		~~2,932~~(105)		(~~6,284~~955)		—		(31,~~352~~060)
Balance at August 2, 2025	$	368	$	923	$	(442)	$	(45,678)	$	(44,829)
Balance at January 31, 2026	$	385	$	1,825	$	(498)	$	(40,435)	$	(38,723)

The following table summarizes the changes in AOCI, net of tax, for the ~~nine~~three months ended ~~July~~February 271, ~~2024~~2025 (in thousands):

	Unrealized Gain (Loss) on
	Available-for-sale Securities		Foreign Currency Forward Contracts		Interest Rate Swaps		Cumulative Translation Adjustment		Total
Balance at October 28, 2023	$	(372)	$	(8,156)	$	18,962	$	(48,201)	$	(37,767)
Balance at November 2, 2024	$	798	$	(4,880)	$	8,668	$	(51,297)	$	(46,711)
Other comprehensive gain (loss) before reclassifications	~~493~~(345)		(~~112~~6,841)		14,~~728~~377		2(17,~~961~~702)		5(20,~~070~~511)
Amounts reclassified from AOCI	—		32,~~848~~357		(112,~~343~~424)		—		(~~7,495~~67)
Balance at July 27, 2024	$	121	$	(4,420)	$	9,347	$	(45,240)	$	(40,192)
Balance at February 1, 2025	$	453	$	(9,364)	$	10,621	$	(68,999)	$	(67,289)

All amounts reclassified from AOCI related to settlements on foreign currency forward contracts designated as cash flow hedges, impacted research and development expense on the Condensed Consolidated Statements of Operations. All amounts reclassified from AOCI related to settlements on interest rate swaps designated as cash flow hedges, impacted interest and other income, net, on the Condensed Consolidated Statements of Operations.

(14) EARNINGS PER SHARE CALCULATION

Basic net income per common share (“Basic EPS”) is computed using the weighted average number of common shares outstanding. Diluted net income per potential common share (“Diluted EPS”) is computed using the weighted average number of the following, inunless ~~each case, to~~ the ~~extent~~impact ~~that~~of the ~~effect~~item is ~~not~~ anti-dilutive: (i) common shares outstanding;, (ii) shares issuable upon vesting of stock unit awards; and (iii) shares issuable under Ciena’s employee stock purchase plan and upon exercise of outstanding stock options, using the treasury stock method.

The following table presents the calculation of Basic ~~EPS~~ and Diluted EPS for the periods indicated (in thousands, except per share amounts):

2120

	Quarter Ended				~~Nine Months Ended~~
	August 2,		July 27,		August 2,		July 27,
	January 31,		February 1,
	2025		2024		2025		2024
	2026		2025
Net income	$	50150,~~308~~283	$	1444,~~230~~572	$	~~103,849~~	$	~~46,928~~
Basic weighted average shares outstanding	141,~~846~~676		~~144~~142,~~394~~880		~~142,437~~		~~144,876~~
Effect of dilutive potential common shares	24,~~653~~123		~~967~~3,064		~~2,721~~		~~919~~
Diluted weighted average shares	144,499		145,361		145,158		145,795
Diluted weighted average shares outstanding	145,799		145,944
Basic EPS	$	01.3506	$	0.1031	$	~~0.73~~	$	~~0.32~~
Diluted EPS	$	01.3503	$	0.1031	$	~~0.72~~	$	~~0.32~~
Antidilutive employee share-based awards, excluded	1,371		690		1,330		1,286
Anti-dilutive stock unit awards, excluded	22		989

(15) STOCKHOLDERS’ EQUITY

Stock Repurchase Program

On October 2, 2024, Ciena announced that its Board of Directors authorized a three-year program to repurchase up to $1.0 billion of its common stock, commencing in fiscal 2025 and continuing through the end of fiscal 2027.

During the first ~~nine~~three months of fiscal ~~2025~~2026, Ciena repurchased approximately 30.34 million shares of its common stock for an aggregate purchase price of approximately $~~245~~80.25 million, which equates to an average price of $75216.0243 per share. As of ~~August~~January 231, ~~2025~~2026, Ciena has (i) repurchased 4.3 million shares for an aggregate purchase price of $~~754~~410.2 million at an average price of $94.83 per share and (ii) has an aggregate of $589.8 million authorized and remaining under its stock repurchase program. Ciena is required to allocate the purchase price for the shares of Ciena’s stock repurchased as a reduction of common stock and additional paid-in capital.

Stock Repurchases Related to Stock Unit ~~Award~~ Tax Withholdings

Ciena repurchases shares of its common stock to satisfy employee tax withholding obligations due onupon vesting of stock unit awards. The related purchase price of $6090.01 million for the shares of Ciena’s stock repurchased during the first ~~nine~~three months of fiscal ~~2025~~2026 is reflected as a reduction to stockholders’ equity. Ciena is required to allocate the purchase price of the repurchased shares as a reduction of common stock and additional paid-in capital.

(16) SHARE-BASED COMPENSATION EXPENSE

The following table summarizes share-based compensation expense for the periods indicated (in thousands):

Quarter Ended

~~Nine Months Ended~~

August 2,

July 27,

August 2,

July 27,

January 31,

February 1,

2025

2024

2025

2024

2026

2025

Products

21,~~027~~822

1,~~660~~750

~~5,810~~

~~4,738~~

Services

34,~~941~~025

3,~~122~~405

~~11,327~~

~~9,486~~

Share-based compensation expense included in cost of goods sold

5,~~968~~847

45,~~782~~155

~~17,137~~

~~14,224~~

Research and development

16,~~749~~594

1314,~~118~~237

~~48,007~~

~~40,064~~

Selling and marketing

1314,~~277~~754

1011,~~315~~597

~~38,523~~

~~31,786~~

General and administrative

1112,~~008~~632

9,~~257~~827

~~32,176~~

~~29,211~~

Share-based compensation expense included in operating expense

4143,~~034~~980

3235,~~690~~661

~~118,706~~

~~101,061~~

Share-based compensation expense capitalized in inventory, net

(74)

(114)

(147)

148

Share-based compensation expense capitalized in inventory, net (1)

—

(10)

Total share-based compensation expense

4649,~~928~~827

3740,~~358~~806

~~135,696~~

~~115,433~~

As(1) ofEffective ~~August 2,~~the ~~2025,~~beginning ~~total~~of ~~unrecognized~~fiscal ~~share-based~~2026, ~~compensation~~Ciena ~~expense~~will ~~was~~no ~~approximately~~longer ~~$284.0 million,~~be ~~which~~calculating ~~relates~~share-based tocompensation ~~unvested~~capitalized ~~stock~~in ~~unit~~inventory ~~awards~~due ~~and is expected~~ to ~~be recognized over a weighted-average period of 1~~immateriality.4 ~~years.~~

22As of January 31, 2026, total unrecognized share-based compensation expense was $443.7 million, which relates to unvested stock unit awards and is expected to be recognized over a weighted-average period of 1.6 years.

(17) SEGMENTS AND ENTITY-WIDE DISCLOSURES

~~Segment~~Operating ~~Reporting~~segments are defined as components of an enterprise that engage in business activities that earn revenue and incur expense for which discrete financial information is available, and for which such information is evaluated regularly by the chief operating decision maker (“CODM”) for purposes of allocating resources and assessing performance. Ciena has the following operating segments for reporting purposes: (i) Networking Platforms; (ii) Platform Software and Services; (iii) Blue Planet Automation Software and Services; and (iv) Global Services. Ciena’s CODM is its Chief Executive Officer, Gary Smith, who evaluates Ciena’s performance and allocates resources based on segment profit (loss) as compared to annual targets for these four operating segments.

Ciena has the following operating segments for reporting purposes: (i) Networking Platforms; (ii) Platform Software and Services; (iii) Blue Planet Automation Software and Services; and (iv) Global Services.

Segment Profit (Loss)

~~Segment~~The ~~profit (loss)~~table isbelow ~~determined~~sets ~~based~~forth onCiena’s ~~internal~~segment ~~performance~~profit ~~measures~~(loss) ~~used~~and bythe ~~Ciena’s~~reconciliations ~~chief~~to ~~executive~~consolidated ~~officer~~net toincome ~~assess~~for the ~~performance~~respective ofperiods ~~each~~indicated ~~operating~~(in ~~segment~~thousands). inThe aCODM ~~given~~excludes ~~period.~~the Infollowing ~~connection~~items ~~with~~in ~~that~~his assessment, ~~the~~of ~~chief~~performance ~~executive~~of ~~officer excludes~~ the ~~following~~operating ~~items~~segments: selling and marketing costs; general and administrative costs;, significant asset impairments and restructuring costs; share-based compensations expense, amortization of intangible assets; acquisition and integration costs; interest and other income, net; interest expense; loss on extinguishment and modification of debt; and provision for income taxes.

The table below sets forth Ciena’s segment profit (loss) and the reconciliation to net income for the periods presented (in thousands):


	Quarter Ended
	January 31,		February 1,
	2026		2025
Revenue:
Networking Platforms	$	1,149,168	$	821,142
Platform Software and Services	93,384		95,067
Blue Planet Automation Software and Services	20,420		26,032
Global Services	164,070		130,019
Total revenue	$	1,427,042	$	1,072,260
Segment gross profit:
Networking Platforms	$	491,681	$	334,982
Platform Software and Services	80,979		81,753
Blue Planet Automation Software and Services	5,577		14,789
Global Services	59,916		47,682
Total segment gross profit	$	638,153	$	479,206
Research and development expense:
Networking Platforms	$	175,050	$	152,820
Platform Software and Services	19,261		16,330
Blue Planet Automation Software and Services	9,391		8,289
Global Services	1,162		985
Total segment research and development expense	$	204,864	$	178,424
Segment profit (loss):
Networking Platforms	$	316,631	$	182,162
Platform Software and Services	61,718		65,423
Blue Planet Automation Software and Services	(3,814)		6,500
Global Services	58,754		46,697
Total segment profit	$	433,289	$	300,782

Less: Unallocated cost of goods sold	$	12,633	$	7,385
Less: Unallocated operating and non-operating expenses	270,373		248,825
Consolidated net income	$	150,283	$	44,572

	Quarter Ended				Nine Months Ended
	August 2,		July 27,		August 2,		July 27,
	2025		2024		2025		2024
Segment profit (loss):
Networking Platforms	$	181,993	$	106,870	$	482,784	$	387,211
Platform Software and Services	54,529		53,131		168,077		165,171
Blue Planet Automation Software and Services	4,192		4,705		13,059		(10,127)
Global Services	50,467		50,351		144,389		145,776
Total segment profit	291,181		215,057		808,309		688,031
Less: Non-performance operating expenses
Selling and marketing	148,724		121,520		424,911		373,749
General and administrative	60,596		58,248		171,450		162,504
Significant asset impairments and restructuring costs	1,770		1,361		5,262		21,987
Amortization of intangible assets	6,556		7,185		19,646		22,384
Add: Other non-performance financial items
Interest and other income, net	15,090		14,013		34,539		36,460
Interest expense	(22,806)		(24,401)		(67,421)		(72,038)
Loss on extinguishment and modification of debt	—		—		(729)		—
Less: Provision for income taxes	15,511		2,125		49,580		24,901
Net income	$	50,308	$	14,230	$	103,849	$	46,928

Entity-Wide Reporting

Ciena's long-lived assets, including equipment, building, furniture and fixtures, operating right-of-use (“ROU”) assets, finite-lived intangible assets, goodwill, and maintenance spares, are not reviewed by Ciena's ~~chief~~CODM ~~operating decision maker~~ for purposes of evaluating performance and allocating resources. As of ~~August~~January 231, ~~2025~~2026, equipment, building, furniture and fixtures, net, totaled $~~368~~437.38 million, and operating ROU assets totaled $40.35 million, both of which support asset groups within Ciena’s four operating segments and unallocated selling and general and administrative activities. AsThe offollowing ~~August 2,~~table ~~2025,~~shows Ciena’s finite-lived intangible assets, goodwill, and maintenance spares ~~are~~allocated ~~assigned~~by tosegment ~~asset~~and ~~groups~~reconciled ~~within~~to ~~the~~total ~~following~~assets ~~segments~~ (in thousands):

	August 2, 2025
	January 31, 2026
	Networking Platforms		Platform Software and Services	Blue Planet Automation Software and Services	Global Services	Total
Other intangible assets, net	$	~~137~~212,~~558~~689	—	~~1,115~~—	—	$	~~138~~212,~~673~~689
Goodwill	$	~~199~~276,~~588~~472	156,191	89,049	—	$	~~444~~521,~~828~~712
Maintenance spares, net	$	—	—	—	8696,~~431~~973	$	8696,~~431~~973
Total assets assigned to segments						$	831,374
Other unallocated assets						5,060,985
Total assets						$	5,892,359


	November 1, 2025
	Networking Platforms		Platform Software and Services	Blue Planet Automation Software and Services	Global Services	Total
Other intangible assets, net	$	224,210	—	—	—	$	224,210
Goodwill	$	275,964	156,191	89,049	—	$	521,204
Maintenance spares, net	$	—	—	—	92,392	$	92,392
Total assets assigned to segments						$	837,806
Other unallocated assets						5,026,861
Total assets						$	5,864,667

The following table ~~represents~~shows Ciena’s geographic distribution of equipment, building, furniture and fixtures, net and operating ROU assets, specifically identifying any country that accounts for at least 10% of the total of these assets. Assets attributable to geographic regions not identified are reflected as “Other International.” For the periods indicated, Ciena’s geographic distribution of equipment, building, furniture and fixtures, net, and operating ROU assets was as follows (in thousands):

	August 2,2025		November 2,2024
	January 31,2026		November 1,2025
Canada	$	~~311~~379,~~313~~882	$	~~283~~325,~~760~~584
United States	4441,~~432~~042		4944,~~195~~634
Other International	52,950		32,184
Other International (1)	57,398		55,174
Total	$	~~408~~478,~~695~~322	$	~~365~~425,~~139~~392

(1) Any country representing less than 10% of total is reflected in aggregate as “Other International.”

(18) COMMITMENTS AND CONTINGENCIES

Tax Contingencies

Ciena is subject to various tax contingencies arising in the ordinary course of business. Ciena does not expect that the ultimate settlement of these contingencies will have a material effect on its financial position or cash flows.

Litigation

Ciena is subject to various legal proceedings, claims, and other matters arising in the ordinary course of business, including those that relate to employment, commercial, tax, and other regulatory matters. Ciena is also subject to intellectual property related claims, including claims against third parties that may involve contractual indemnification obligations on the part of Ciena. Ciena does not expect that the ultimate costs to resolve such matters will have a material effect on its results of operations, financial position, or cash flows.

~~Purchase~~23 ~~Obligations~~

~~Ciena~~related ~~has~~claims, ~~certain~~including ~~advanced~~claims ~~commitments~~against ~~for~~third ~~supply~~parties ofthat ~~certain~~may ~~long~~involve ~~lead~~contractual ~~time~~indemnification ~~components.~~obligations Ason ofthe ~~August 2,~~part ~~2025,~~of Ciena ~~had $1~~.~~8 billion~~ inCiena ~~outstanding~~does ~~purchase~~not ~~commitments~~expect tothat ~~contract~~the ~~manufacturers~~ultimate ~~and~~costs ~~component suppliers for inventory. In certain instances, Ciena is permitted~~ to ~~cancel,~~resolve ~~reschedule~~such ormatters ~~adjust~~will ~~these~~have ~~commitments. Consequently, only~~ a ~~portion~~material ofeffect ~~this~~on ~~amount~~its ~~relates~~results toof ~~firm~~operations, ~~non-cancelable~~financial ~~and~~position, ~~unconditional~~or ~~obligations~~cash flows.

Purchase Order Obligations

Ciena has certain advanced orders for supply of certain long lead time components. As of January 31, 2026, Ciena had $1.9 billion in outstanding purchase order commitments to contract manufacturers and component suppliers for inventory. In certain instances, Ciena is permitted to cancel, reschedule or adjust a portion of these orders.

(19) SUBSEQUENT EVENTS

Stock Repurchase Program

From the end of the ~~third~~first quarter of fiscal ~~2025~~2026 through ~~August~~February 2927, ~~2025~~2026, Ciena repurchased ~~286~~83,~~619~~510 shares of its common stock for an aggregate purchase price of $2625.41 million at an average price of $92300.1029 per share, inclusive of repurchases pending settlement under its current stock repurchase program. As of ~~August~~February 2927, ~~2025~~2026, Ciena has an aggregate of $~~728~~564.47 million of authorized funds remaining under this repurchase program.

~~Reallocation~~U.S. ofSupreme ~~Innovation~~Court ~~Investment~~Ruling ~~and~~on ~~Fiscal~~Tariffs ~~2025 Restructuring Plan~~

On ~~August~~February 2620, ~~2025~~2026, inthe ~~order~~U.S. toSupreme ~~align~~Court ruled that a portion of the tariffs that Ciena’s ~~strategic~~has ~~investments~~been ~~with~~subject ~~our~~to ~~highest-growth~~were ~~demand~~invalid. ~~opportunities~~Following this ruling, ~~its~~the U.S. Administration issued an executive ~~team~~order ~~determined~~imposing toa ~~cease~~new ~~forward~~global ~~investment~~tariff. inThe ~~certain~~ruling ~~broadband~~and ~~development~~the ~~initiatives,~~subsequent ~~primarily~~response ~~25G~~by ~~PON,~~the ~~within~~U.S. Administration leave open a number of complex questions regarding the ~~routing~~timing, mechanics and ~~switching~~administration ~~product~~of ~~line~~tariff ofrefunds by the ~~Network~~U.S. ~~Platforms~~government, ~~operating~~if ~~segment~~any. Ciena ~~intends~~is toevaluating ~~continue~~the ~~support~~impact ~~and~~these ~~development~~events ofmay have, if any, on its ~~10G~~consolidated ~~PON-based~~financial ~~products.~~statements and related disclosures.

Ciena’s executive team also approved a restructuring plan intended to deliver increased operating efficiencies and, as a result, commencing during the fourth quarter of fiscal 2025, Ciena is implementing a workforce reduction of approximately 4%

to 5% of its global headcount, which includes employees associated with the broadband development initiatives discussed above.

The estimated cash cost related to these actions is approximately $20.0 million and represents employee severance and related costs. As such, we expect an expense of approximately $20.0 million to be incurred in the fourth quarter of fiscal 2025. In addition, Ciena anticipates that its decision to cease future investment in 25G PON will result in a non-cash charge in the fourth quarter of fiscal 2025 related to the abandonment of its in-process R&D intangible asset, which has a carrying value of $89.1 million as of August 2, 2025. During the fourth quarter of fiscal 2025, Ciena will also evaluate the impact of these actions on other assets including, but not limited to, inventory and fixed assets.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Cautionary Note Regarding Forward-Looking Statements

This report contains statements that discuss future events or expectations, projections of results of operations or financial condition, changes in the markets for our products and services, trends in our business, operational matters including the expansion of manufacturing capacity and accumulation of inventory, business prospects and strategies and other “forward-looking” information. Forward-looking statements may appear throughout this report, including in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors.” In some cases, you can identify “forward-looking statements” by words like “may,” “will,” “would,” “can,” “should,” “could,” “expects,” “future,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “potential,” “projects,” “targets,” “prepare,” or “continue” or the negative of those words and other comparable words. You should be aware that the forward-looking statements contained in this report are based on our current views and assumptions, and are subject to known and unknown risks, uncertainties, and other factors that may cause actual events or results to differ materially.

For a discussion identifying some of the important factors that could cause actual results to vary materially from those anticipated in the forward-looking statements, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in this report. For a more complete understanding of the risks associated with an investment in our securities, you should review these factors and the rest of this report in combination with the more detailed description of our business and management’s discussion and analysis of financial condition and risk factors described in our Annual Report on Form 10-K for the fiscal year ended November 21, ~~2024~~2025, which we filed with the Securities and Exchange Commission (the “SEC”) on December 2012, ~~2024~~2025 (our “~~2024~~2025 Annual Report”). However, we operate in a very competitive and dynamic environment and new risks and uncertainties emerge, are identified, or become apparent from time to time, and therefore may not be identified in this report. We cannot predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this report. You should be aware that the forward-looking statements contained in this report are based on our current views and assumptions. We undertake no obligation to revise or to update any forward-looking statements made in this report to reflect events or circumstances after the date hereof or to reflect new information or the occurrence of unanticipated events, except as required by law. The forward-looking statements in this report are intended to be subject to protection afforded by the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Unless the context requires otherwise, references in this report to “Ciena,” the “Company,” “we,” “us,” and “our” refer to Ciena Corporation and its consolidated subsidiaries.

Reform Act of 1995. Unless the context requires otherwise, references in this report to “Ciena,” the “Company,” “we,” “us,” and “our” refer to Ciena Corporation and its consolidated subsidiaries.

Overview

~~This~~We ~~Management’s~~are ~~Discussion~~a ~~and~~network ~~Analysis~~technology ofcompany, ~~Financial~~providing ~~Condition~~hardware, software, and ~~Results~~services ~~of Operations is designed~~ to ~~provide~~a anwide ~~understanding~~range of ~~our~~network ~~financial~~operators ~~condition,~~and ~~results~~enabling ofenhanced ~~operations~~network capacity, ~~and~~service ~~cash flows~~delivery, and itautomation. ~~should~~Our besolutions ~~read~~support innetwork ~~conjunction~~traffic ~~with~~across ~~our~~a ~~Condensed~~wide ~~Consolidated~~range ~~Financial~~of ~~Statements~~applications, ~~and~~including ~~the~~cloud, ~~accompanying~~voice, ~~notes~~video, ~~thereto~~data, ~~included~~and inartificial ~~Item~~intelligence 1(“AI”). ofOur ~~Part~~network Isolutions ofare ~~this~~used ~~report~~globally ~~and~~by incloud ~~Item~~providers, 8service ofproviders, ~~Part~~and IIother ofnetwork ~~our~~operators ~~2024~~across ~~Annual~~multiple ~~Report~~industry verticals.

25The markets into which we sell are dynamic and characterized by a high rate of change. Networks continue to experience strong demand for increased bandwidth due to traffic growth, which is being driven by a diverse set of services, technologies, and customer needs.

We are a network technology company, providing hardware, software, and services to a wide range of network operators and enabling enhanced network capacity, service delivery, and automation. Our solutions support network traffic across a wide range of applications, including cloud, video, data, artificial intelligence (“AI”), and voice. Our network solutions are used globally by communications service providers, cable and multiservice operators, cloud providers, submarine network operators, governments, and enterprises across multiple industry verticals. Our portfolio is designed to enable the Adaptive Network™, which is our vision for a network end state that leverages a programmable and scalable network infrastructure, driven by software control and automation capabilities, that is informed by network analytics and intelligence. Our solutions include Networking Platforms, including our Optical Networking portfolio and our Routing and Switching portfolio, which can be applied from the network core to end-user access points, and which allow network operators to scale capacity, to increase transmission speeds, to allocate traffic efficiently, and to adapt dynamically to changing end-user service demands. To complement our Networking Platforms, we offer Platform Software, which includes our Navigator Network Control Software (NCS) and advanced applications that deliver multi-layer domain control and operations for network operators. Through our Blue Planet Automation Software, we also enable complete service lifecycle management automation with productized operational support systems, including inventory, orchestration and assurance solutions that help our customers to achieve closed loop automation across multi-vendor and multi-domain environments. In addition to our systems and software, we also offer a broad range of services that help our customers build, operate, and improve their networks and associated operational environments. These include network transformation, consulting, implementation, systems integration, maintenance, network operations center (NOC) management, learning, and optimization services.

Market Opportunity and Investment in Technology Innovation

The market into which we sell our communications networking solutions is dynamic and is characterized by a high rate of change, including rapid growth in bandwidth demand and network traffic, the proliferation of cloud-based services, and new approaches, or “consumption models,” for designing and procuring networking solutions. Drivers of increased bandwidth demand include enterprise and consumer cloud network adoption, AI, 5G, high-definition video, and network operator focus on resilience and automation. To address these growing service demands and manage network cost, many network operators are looking to adopt next-generation infrastructures that are more programmable and better capable of leveraging data for network insight, analytics and automation.

We believe that our investment capacity and our efforts to push the pace of innovation are important competitive differentiators in our markets. Keeping pace with the market’s demand for technology innovation requires considerable research and development investment capacity and expenditures, and research and development spending represented 18.1% of our revenue in the first nine months of fiscal 2025. During the first nine months of fiscal 2025, we invested $619.4 million in research and development activities, an increase of 8.4% compared to the first nine months of fiscal 2024. In particular, in an effort to capture certain market opportunities created by the impact of AI on networks, we have continued to innovate, increase the performance of, and enhance the capabilities for our leading WaveLogicTM coherent modem technology in multiple form factors. Through this innovation, we seek to extend our leadership in our core business and leverage this to expand our addressable market into complementary and adjacent network applications, including inside and around the data center.

Business Momentum

~~The~~Our ~~optical component~~ industry has been experiencing ~~increased~~unprecedented increases in demand, in particular asdue ato ~~result~~capital ~~of cloud provider~~ expenditures related to AI and other cloud-based applications. ~~This~~As a result, we experienced strong momentum and growth in fiscal 2025 that continued in the first quarter of fiscal 2026. As we grow disproportionately with cloud providers, we are seeing a small number of those customers become a larger portion of our business across multiple revenue segments. Our revenue increased ~~demand~~by ~~has~~33.1% ~~led~~to $1.4 billion in the first quarter of fiscal 2026 as compared to $1.1 billion in the first quarter of fiscal 2025, with orders for our products and services significantly exceeding our revenue. This dynamic, together with an industry-wide constrained supply environment ~~with extended lead times~~, ~~resulting~~has resulted in ~~some~~historically ~~customers~~high ~~accelerating future orders~~backlog.

~~During~~Gross ~~the~~Margin third quarter of fiscal 2025, we continued to experience broad-based business momentum, with orders for our products and services significantly exceeding our revenue, resulting in increased backlog. We believe some portion of this order growth was impacted by the industry dynamics described above. We experienced year-over-year order growth in our major customer segments, particularly with cloud provider customers and large communications service provider customers, with a single cloud provider customer continuing to provide a significant volume of orders. As a result, our revenue increased by 29.4% to $1.2 billion in the third quarter of fiscal 2025 as compared to $942.3 million in the third quarter of fiscal 2024. Two of our top five customers by revenue for the third quarter of fiscal 2025 were cloud providers. Although our business remains subject to quarterly fluctuations due to customer purchasing patterns and supply chain dynamics, we continue to believe that certain trends and shifts in business and consumer behaviors and the drivers of bandwidth demand described above under the heading “Overview - Market Opportunity and Investment in Technology Innovation” in this Item 2 represent long-term opportunities for our business.Dynamics

26Our gross margin decreased to 43.8% in the first quarter of fiscal 2026, compared to 44.0% in the first quarter of fiscal 2025, primarily due to lower services gross margin.

~~Reallocation~~Operating ofExpense ~~Innovation~~and Investment ~~and~~in ~~Fiscal~~Technology ~~2025 Restructuring Plan~~ Innovation

~~During~~Our operating expense grew from $391.2 million in the ~~fourth~~first quarter of fiscal 2025 to $436.1 million in the first quarter of fiscal 2026. During the first quarter of fiscal 2026, we invested $221.5 million in ~~order~~research and development activities, an increase of 15% compared to ~~align~~the ~~our~~first ~~strategic~~quarter ~~investments~~of ~~with~~fiscal ~~our~~2025. ~~highest-growth~~We ~~demand~~believe ~~opportunities,~~that our ~~executive~~investment ~~team~~capacity ~~determined~~and our efforts to ~~cease~~push ~~forward~~the pace of innovation are important competitive differentiators in our markets, which requires considerable investment capacity and expenditures. In particular, in an effort to capture certain ~~broadband~~market ~~development~~opportunities ~~initiatives,~~created ~~primarily~~by ~~25G~~the ~~PON~~impact of AI on networks, ~~within~~we continued to increase the ~~routing~~performance of, and ~~switching~~enhance ~~product~~the ~~line~~capabilities offor ~~the~~our ~~Network~~leading ~~Platforms~~WaveLogicTM ~~operating~~coherent ~~segment.~~modem Wetechnology, ~~intend~~through which we seek to ~~continue~~extend ~~support~~our leadership in optical networking, and ~~development~~leverage ofit to expand our ~~10G~~addressable ~~PON-based~~market, ~~products.~~including inside and around the data center.

~~Our~~Capital ~~executive~~Allocation team also approved a restructuring plan intended to deliver increased operating efficiencies and, as a result, commencing during the fourth quarter of fiscal 2025, we are implementing a workforce reduction of approximately 4% to 5% of our global headcount, which includes employees associated with the broadband development initiatives discussed above.Strategy

~~For~~Our ~~additional~~capital ~~information~~allocation strategy is focused on ~~the~~maintaining ~~expected~~our ~~impact~~significant ofinnovation ~~these~~investment, ~~decisions~~investing onin ~~our~~select ~~financial~~transactions, ~~results~~and returning value to stockholders, ~~see~~while ~~Note~~preserving 19our strategic and operational flexibility. We continuously work to improve our ~~Condensed~~cash ~~Consolidated~~cycle ~~Financial~~and ~~Statements~~evaluate ~~included~~alternatives to manage our capital structure in ~~Item~~order to enhance our liquidity. We ended the first quarter of fiscal 2026 with $1.4 billion of ~~Part~~cash, Icash equivalents, and investments. As of ~~this~~the ~~report~~end of the first quarter of fiscal 2026, cash generated from operations increased to $227.6 million as compared to $103.7 million as of the end of the first quarter of fiscal 2025. Consistent with our capital allocation priorities, during the first quarter of fiscal 2026, we invested $73.9 million in capital purchases, primarily for supply chain equipment and research and development , and $170.6 million to repurchase shares through our share buyback program and for tax withholding purposes associated with employee stock awards.

For additional information regarding our business, industry, market opportunity, competitive landscape, and strategy, see our ~~2024~~2025 Annual Report.

Consolidated Results of Operations

Operating Segments

~~Our~~25 results of operations are presented based on the following operating segments: (i) Networking Platforms; (ii) Platform Software and Services; (iii) Blue Planet Automation Software and Services; and (iv) Global Services. See Note 3 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report.

Our results of operations are presented based on our operating segments: (i) Networking Platforms; (ii) Platform Software and Services; (iii) Blue Planet Automation Software and Services; and (iv) Global Services. See Note 3 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report.

Revenue

~~Our~~As ~~revenue~~a ~~increased~~result byof ~~29.4%, or $277.1 million in~~ the ~~third~~increased ~~quarter~~demand ofdescribed ~~fiscal~~above, ~~2025~~our asrevenue ~~compared~~increased toby ~~the third quarter of fiscal 2024, and 18~~33.21%, or $~~526~~354.78 million, in the first ~~nine~~quarter ~~months~~ of fiscal ~~2025~~2026 as compared to the first ~~nine~~quarter ~~months~~ of fiscal ~~2024~~2025.

Operating Segment Revenue

The table below sets forth the changes in our operating segment revenue for the periods indicated (in thousands, except percentage data):


	Quarter Ended
	January 31, 2026			February 1, 2025			%*
Revenue:
Networking Platforms
Optical Networking	$	1,023,162		$	727,973		40.5	%
%**	71.7		%	67.9		%
Routing and Switching	126,006			93,169			35.2	%
%**	8.8		%	8.7		%
Total Networking Platforms	1,149,168			821,142			39.9	%
%**	80.5		%	76.6		%

Platform Software and Services	93,384			95,067			(1.8)	%
%**	6.5		%	8.9		%

Blue Planet Automation Software and Services	20,420			26,032			(21.6)	%
%**	1.5		%	2.4		%

Global Services
Maintenance, Support, and Learning	87,551			74,573			17.4	%
%**	6.1		%	7.0		%
Implementation	67,949			47,682			42.5	%
%**	4.8		%	4.4		%
Advisory and Enablement	8,570			7,764			10.4	%
%**	0.6		%	0.7		%
Total Global Services	164,070			130,019			26.2	%
%**	11.5		%	12.1		%

Total revenue	$	1,427,042		$	1,072,260		33.1	%

	Quarter Ended								Nine Months Ended
	August 2, 2025			July 27, 2024			%*		August 2, 2025			July 27, 2024			%*
Revenue:
Networking Platforms
Optical Networking	$	815,497		$	606,845		34.4	%	$	2,317,062		$	1,862,917		24.4	%
%**	66.9		%	64.4		%			67.8		%	64.4		%
Routing and Switching	125,857			92,692			35.8	%	311,749			320,113			(2.6)	%
%**	10.3		%	9.8		%			9.1		%	11.1		%
Total Networking Platforms	941,354			699,537			34.6	%	2,628,811			2,183,030			20.4	%
%**	77.2		%	74.2		%			76.9		%	75.5		%
Platform Software and Services	89,961			83,212			8.1	%	270,469			258,402			4.7	%
%**	7.4		%	8.9		%			7.9		%	8.9		%
Blue Planet Automation Software and Services	27,805			25,791			7.8	%	81,787			54,167			51.0	%
%**	2.3		%	2.7		%			2.4		%	1.9		%
Global Services
Maintenance Support and Training	80,743			74,344			8.6	%	234,758			225,869			3.9	%
%**	6.6		%	7.9		%			6.9		%	7.8		%
Installation and Deployment	65,878			46,484			41.7	%	171,735			132,993			29.1	%
%**	5.4		%	4.9		%			5.0		%	4.6		%
Consulting and Network Design	13,644			12,940			5.4	%	29,963			36,382			(17.6)	%
%**	1.1		%	1.4		%			0.9		%	1.3		%
Total Global Services	160,265			133,768			19.8	%	436,456			395,244			10.4	%
%**	13.1		%	14.2		%			12.8		%	13.7		%
Total revenue	$	1,219,385		$	942,308		29.4	%	$	3,417,523		$	2,890,843		18.2	%

_____________________________

* Denotes % change from fiscal ~~2024~~2025 to fiscal ~~2025~~2026

** Denotes % of total revenue

Quarter ended ~~August~~January 231, ~~2025~~2026 as compared to the quarter ended ~~July~~February 271, ~~2024~~2025

•Networking Platforms segment revenue increased by $~~241~~328.90 million.

•Optical Networking products revenue increased by $~~208~~295.72 million, primarily driven by increases in sales of our ~~6500 Reconfigurable Line Systems (“RLS”), as well as increases in sales of our~~ Waveserver® system ~~and~~to ~~our~~service ~~coherent~~provider ~~pluggables,~~and ~~in each case primarily to~~ cloud provider customers., ~~These~~and ~~sales were partially offset by a sales decrease of~~ our 6500 ~~Packet-Optical~~Reconfigurable ~~Platform,~~Line ~~primarily~~Systems (RLS) to ~~enterprise~~cloud provider customers.

~~•Routing~~26 and Switching products revenue increased by $33.2 million, primarily driven by an increase in sales of our 3000 and 5000 series of service delivery and aggregation platforms to communications service providers and cloud provider customers, partially offset by a decrease in sales of our virtualization software to communications service providers.

•~~Platform~~Routing ~~Software~~ and ~~Services~~Switching ~~segment~~products revenue increased by $632.78 million, primarily ~~reflecting~~driven ~~sales~~by ~~increases~~an increase in sales of our ~~Navigator~~3000 ~~Network~~and ~~Control~~5000 ~~SuiteTM~~series ~~domain~~of ~~controller~~service delivery and aggregation platforms, including our out-of-band data center management (DCOM) solution, to cloud provider and service provider customers.

•~~Blue~~Platform ~~Planet Automation~~ Software and Services segment revenue ~~increased~~decreased by $21.07 million, primarily reflecting a sales ~~increases~~decrease inof our ~~orchestration~~ software ~~and~~consulting ~~inventory management software~~ services, partially offset by ~~sales~~an ~~decreases~~increase in sales of our ~~inventory~~Navigator ~~management~~NCS software. solution.

•~~Global~~Blue Planet Automation Software and Services segment revenue ~~increased~~decreased by $~~26.~~5.6 million, primarily reflecting a sales ~~increase~~decrease in our ~~installation~~unified assurance and ~~deployment~~analytics ~~and~~software, ~~maintenance~~partially ~~support~~offset ~~and~~by ~~training~~a sales increase in our inventory management software services.

28•Global Services segment revenue increased by $34.1 million, primarily reflecting sales increases in our implementation services and maintenance, support, and learning services.

Nine months ended August 2, 2025 as compared to the nine months ended July 27, 2024

•Networking Platforms segment revenue increased by $445.8 million.

•Optical Networking sales increased by $454.1 million, primarily driven by increases in sales of our RLS as well as increases in sales of our coherent pluggables, both primarily to cloud provider customers, and our 6500 Packet-Optical Platforms, primarily to communications service provider customers.

•Routing and Switching sales decreased by $8.3 million, primarily driven by decreases in sales of other software.

•Platform Software and Services segment revenue increased by $12.1 million, primarily reflecting sales increases of our software consulting services and our software maintenance services.

•Blue Planet Automation Software and Services segment revenue increased by $27.6 million, primarily reflecting sales increases in our unified assurance and analytics software, orchestration software, and our inventory management software services.

•Global Services segment revenue increased by $41.2 million, primarily reflecting sales increases in our installation and deployment and maintenance support and training services, partially offset by a sales decrease in our consulting and network design services.

Revenue by Geographic Region

Our operating segments engage in business and operations across three geographic regions: the United States, Canada, the Caribbean and Latin America (“Americas”); Europe, Middle East and Africa (“EMEA”); and Asia Pacific, Japan and India (“APAC”). The geographic distribution of our revenue can fluctuate significantly from period to period, and the timing of revenue recognition for large network projects, particularly outside of the United States, can result in variations in geographic revenue results in any particular period.

The following table reflects our geographic distribution of revenue, principally based on the relevant location for our delivery of products and performance of services. The table sets forth the changes in geographic distribution of revenue for the periods indicated (in thousands, except percentage data):

	Quarter Ended								~~Nine Months Ended~~
	August 2, 2025			July 27, 2024			%*		August 2, 2025			July 27, 2024			%*
	January 31, 2026			February 1, 2025			%*
Americas	$	~~923~~1,~~627~~118,223		$	~~718~~795,~~605~~632		2840.5	%	$	~~2,553,081~~		$	~~2,099,680~~		~~21.6~~	%
%**	7578.74		%	7674.32		%			~~74.7~~		%	~~72.6~~		%
EMEA	~~186~~200,~~018~~587			~~135~~157,~~009~~916			3727.80	%	~~535,519~~			~~498,212~~			~~7.5~~	%
%**	1514.30		%	14.37		%			~~15.7~~		%	~~17.3~~		%
APAC	~~109~~108,~~740~~232			88118,~~694~~712			23(8.78)	%	~~328,923~~			~~292,951~~			~~12.3~~	%
%**	97.06		%	911.41		%			~~9.6~~		%	~~10.1~~		%
Total	$	1,~~219~~427,~~385~~042		$	~~942~~1,~~308~~072,260		2933.41	%	$	~~3,417,523~~		$	~~2,890,843~~		~~18.2~~	%

_____________________________________

* Denotes % change from fiscal ~~2024~~2025 to fiscal ~~2025~~2026

** Denotes % of total revenue

Quarter ended ~~August~~January 231, ~~2025~~2026 as compared to the quarter ended ~~July~~February 271, ~~2024~~2025

•Americas revenue increased by $~~205~~322.06 million, primarily driven by increased sales to cloud providers and service providers in the United States.

•EMEA revenue increased by $5142.07 million, primarily driven by increased sales to cloud providers in the Netherlands.

•APAC revenue ~~increased~~decreased by $2110.15 million, primarily driven by ~~increased~~decreased sales toin ~~communications~~India, ~~service~~primarily ~~providers~~to ~~and~~service ~~cloud~~ providers, partially offset by ~~decreased~~increased sales in Singapore, primarily to ~~enterprise~~cloud ~~customers~~providers.

Nine months ended August 2, 2025 as compared to the nine months ended July 27, 2024

•Americas revenue increased by $453.4 million, primarily driven by increased sales to cloud providers as well as increased sales to communications service providers, each primarily in the United States.

•EMEA revenue increased by $37.3 million, primarily driven by increased sales to cloud providers and communications service providers partially offset by decreased sales to submarine network operators.

•APAC revenue increased by $36.0 million, primarily driven by increased sales to communications service providers in India and Japan, partially offset by decreased sales to enterprise customers in Australia and Vietnam.

Currency Fluctuations

During the ~~third~~first quarter ~~and first nine months~~ of fiscal ~~2025~~2026, approximately 138.3% ~~and 13.8%~~ of our revenue was non-U.S. Dollar-denominated~~, respectively~~. During the ~~third~~first quarter of fiscal ~~2025~~2026 as compared to the ~~third~~first quarter of fiscal ~~2024~~2025, the U.S. Dollar generally weakened against other currencies~~, and during the first nine months of fiscal 2025 as compared to the first nine months of fiscal 2024, the U~~.S. ~~Dollar generally strengthened against other currencies.~~ These currency fluctuations had a positive effect on our revenue reported in U.S. Dollars of approximately $~~3.6 million, or 0.3%, as compared to the third quarter of fiscal 2024, and had an adverse effect on our revenue reported in U.S Dollars of approximately $~~5.60 million, or 0.24%, as compared to the first ~~nine~~quarter ~~months~~ of fiscal ~~2024~~2025.

~~Cost of Goods Sold and~~ Gross ~~Profit~~Margin

~~There~~27 are a number of important factors or conditions that can adversely affect or cause our gross profit as a percentage of product or service revenue, or “gross margin,” to fluctuate on a quarterly basis. For example, early stages of new network builds also often include an increased concentration of lower margin “common” equipment, photonic line systems, and installation services, with the intent to improve margin as we sell channel cards, advanced software, and maintenance services to customers as they add capacity. In addition, products that are in early or introductory phases may carry lower margins. The component elements that comprise our product cost of goods sold and services cost of goods sold, and certain factors that can cause gross margin to fluctuate, are described in detail in the “Consolidated Results of Operations - Cost of Goods Sold and Gross Profit” in Item 7 of Part II and “Risk Factors” in Item 1A of Part I of our 2024 Annual Report.

~~The~~Gross ~~tables~~margin ~~below~~is ~~set~~calculated ~~forth~~as ~~the changes in~~ revenue, less cost of goods sold ~~and gross profit for the periods indicated (in thousands~~, ~~except~~divided ~~percentage~~by ~~data):~~revenue.

	Quarter Ended								Nine Months Ended
	August 2, 2025			July 27, 2024			%*		August 2, 2025			July 27, 2024			%*
Total revenue	$	1,219,385		$	942,308		29.4	%	$	3,417,523		$	2,890,843		18.2	%
Total cost of goods sold	716,306			538,363			33.1	%	1,989,785			1,631,275			22.0	%
Gross profit	$	503,079		$	403,945		24.5	%	$	1,427,738		$	1,259,568		13.4	%
%**	41.3		%	42.9		%			41.8		%	43.6		%

•Product cost of goods sold consists primarily of amounts paid to third-party contract manufacturers, component costs, employee-related costs, shipping, logistics, and tariff costs associated with manufacturing-related operations, warranty and other contractual obligations, royalties, license fees, amortization of intangible assets, cost of excess and obsolete inventory and, any estimated losses on committed customer contracts.

•Service cost of goods sold consists primarily of direct and third-party costs associated with our provision of services, including implementation, maintenance, support, learning, advisory and enablement activities, and any estimated losses on committed customer contracts. The majority of these costs relate to personnel, including employee and third-party contractor-related costs.

Gross margin can fluctuate due to a number of factors, including technology-based price compression, product and service mix, the lifecycle stage of our products and cost reductions.

The tables below set forth the changes in revenue and gross margin for the periods indicated (in thousands, except percentage data):


	Quarter Ended
	January 31, 2026				February 1, 2025
	Revenue		Gross Margin (%)		Revenue		Gross Margin (%)		Revenue Change (%)		Gross Margin Change
Total	$	1,427,042	43.8	%	$	1,072,260	44.0	%	33.1	%	(0.2)	%
Products	$	1,179,870	43.5	%	$	854,785	42.6	%	38.0	%	0.9	%
Services	$	247,172	45.4	%	$	217,475	49.6	%	13.7	%	(4.2)	%

_____________________________________

* DenotesQuarter %ended ~~change~~January 31, ~~from~~2026 ~~fiscal~~as ~~2024~~compared to ~~fiscal~~the ~~2025~~quarter ended February 1, 2025

** Denotes•Gross %margin decreased by 20 basis points from the first quarter of ~~total~~fiscal ~~revenue~~2025 to the first quarter of fiscal 2026, primarily reflecting decreased services margin.

~~Quarter~~•Product ~~ended~~gross ~~August 2,~~margin increased by 90 basis points from the first quarter of fiscal 2025 asto ~~compared~~the first quarter of fiscal 2026. The increase was primarily due to product cost reductions and a more favorable product mix, partially offset by a one-time manufacturing efficiency benefit recognized in the first quarter ~~ended~~of ~~July 27~~fiscal 2025, ~~2024~~and increased inventory writedowns.

•~~Gross~~Services ~~profit~~gross ~~increased~~margin decreased by ~~$99.1~~420 ~~million.~~basis ~~Gross~~points ~~margin~~from ~~decreased~~the byfirst ~~160~~quarter ~~basis~~of ~~points~~fiscal 2025 to the first quarter of fiscal 2026, primarily ~~reflecting~~due ~~decreased~~to a less favorable services mix, partially offset by improved margins on deployment services.

•Gross profit on products increased by $100.8 million from $296.0 million for the third quarter of fiscal 2024 to $396.8 million for the third quarter of fiscal 2025. Product gross margin of 40.6% did not change for the third quarter of fiscal 2025 as compared to the third quarter of fiscal 2024. However, in the third quarter of fiscal 2025, we experienced unfavorable product mix partially offset by improved manufacturing efficiencies and product cost reductions, as compared to the third quarter of fiscal 2024.

•Gross profit on services decreased by $1.7 million from $108.0 million for the third quarter of fiscal 2024 to $106.3 million for the third quarter of fiscal 2025. Services gross margin decreased by 690 basis points, from 50.7% for the third quarter of fiscal 2024 to 43.8% for the third quarter of fiscal 2025, primarily due to increased costs related to delivering maintenance arrangements.

Nine months ended August 2, 2025 as compared to the nine months ended July 27, 2024

•Gross profit increased by $168.2 million. Gross margin decreased by 180 basis points, reflecting decreased products and services margin.

•Gross profit on products increased by $158.5 million from $950.9 million for the first nine months of fiscal 2024 to $1.11 billion for the first nine months of fiscal 2025. Product gross margin decreased by 140 basis points, from 42.0% for the first nine months of fiscal 2024 to 40.6% for the first nine months of fiscal 2025, primarily due to unfavorable product mix, partially offset by manufacturing efficiencies.

•Gross profit on services increased by $9.7 million from $308.7 million for the first nine months of fiscal 2024 to $318.4 million for the first nine months of fiscal 2025. Services gross margin decreased by 320 basis points, from 49.5% for the first nine months of fiscal 2024 to 46.3% for the first nine months of fiscal 2025, primarily due to increased costs related to delivering maintenance arrangements.

Operating Expense

The component elements that comprise each of our operating expense categories in the table below are set forth in the “Consolidated Results of Operations - Operating Expense” in Item 7 of Part II of our ~~2024~~2025 Annual Report. The table below sets forth the changes in operating expense for the periods indicated (in thousands, except percentage data):

	Quarter Ended								Nine Months Ended
	August 2, 2025			July 27, 2024			%*		August 2, 2025			July 27, 2024			%*
Research and development	$	211,898		$	188,888		12.2	%	$	619,429		$	571,537		8.4	%
%**	17.4		%	20.0		%			18.1		%	19.8		%
Selling and marketing	148,724			121,520			22.4	%	424,911			373,749			13.7	%
%**	12.2		%	12.9		%			12.4		%	12.9		%
General and administrative	60,596			58,248			4.0	%	171,450			162,504			5.5	%
%**	5.0		%	6.2		%			5.0		%	5.6		%
Significant asset impairments and restructuring costs	1,770			1,361			30.1	%	5,262			21,987			(76.1)	%
%**	0.1		%	0.1		%			0.2		%	0.8		%
Amortization of intangible assets	6,556			7,185			(8.8)	%	19,646			22,384			(12.2)	%
%**	0.5		%	0.8		%			0.6		%	0.8		%
Total operating expenses	$	429,544		$	377,202		13.9	%	$	1,240,698		$	1,152,161		7.7	%
%**	35.2		%	40.0		%			36.3		%	39.9		%


	Quarter Ended
	January 31, 2026			February 1, 2025			%*
Research and development	$	221,458		$	192,663		14.9	%
%**	15.5		%	18.0		%
Selling and marketing	148,867			136,504			9.1	%
%**	10.4		%	12.7		%
General and administrative	59,243			53,902			9.9	%
%**	4.2		%	5.0		%
Significant asset impairments and restructuring costs	1,498			1,544			(3.0)	%
%**	0.1		%	0.1		%
Amortization of intangible assets	4,736			6,545			(27.6)	%
%**	0.3		%	0.6		%
Acquisition and integration costs	306			—			100.0	%
%**	—		%	—		%
Total operating expenses	$	436,108		$	391,158		11.5	%
%**	30.6		%	36.5		%

_____________________________________

* Denotes % change from fiscal ~~2024~~2025 to fiscal ~~2025~~2026

** Denotes % of total revenue

Quarter ended ~~August~~January 231, ~~2025~~2026 as compared to the quarter ended ~~July~~February 271, ~~2024~~2025

•Research and development expense increased by $2328.08 million. Net of hedging, this ~~increase~~ primarily reflects ~~increases~~higher in employee- headcount and related compensation costs, ~~primarily~~including ~~due~~our toacquisition ~~increases~~of inNubis ~~incentive compensation~~Communications, ~~partially~~and ~~offset~~professional byservices ~~lower prototype~~ expense.

•Selling and marketing expense increased by $2712.24 million., ~~This~~which ~~increase~~ primarily reflects increases in employee-related compensation costs ~~primarily due to increases in incentive compensation~~.

•General and administrative expense increased by $25.3 million., ~~This~~which ~~increase~~ primarily reflects increases in employee-related compensation costs ~~primarily due to increases in incentive compensation, partially offset by lower legal fees~~.

•Significant asset impairments and restructuring costs remained relatively unchanged.

•Amortization of intangible assets ~~remained~~decreased ~~relatively~~by ~~unchanged~~$1.8 million, primarily reflecting certain intangible assets having reached the end of their economic lives.

~~Nine~~•Acquisition ~~months~~and ~~ended~~integration ~~August 2~~costs reflect financial, ~~2025~~legal, asand ~~compared~~accounting toadvisory ~~the~~costs ~~nine~~and ~~months~~certain ~~ended~~employee-related ~~July 27,~~costs ~~2024~~related to our acquisition of Nubis Communications.

•Research and development expense increased by $47.9 million. Net of hedging, this increase primarily reflects increases in employee-related compensation costs primarily due to increases in incentive compensation, and professional services related to design engineering, fabrication and production of ASIC chips, partially offset by lower prototype expense.

•Selling and marketing expense increased by $51.2 million. This increase primarily reflects increases in employee-related compensation costs primarily due to increases in incentive compensation, and increases in travel and entertainment costs.

•General and administrative expense increased by $8.9 million. This increase primarily reflects increases in employee-related compensation costs primarily due to increases in incentive compensation, partially offset by lower legal fees and bad debt expense.

•Significant asset impairments and restructuring costs decreased by $16.7 million primarily due to a reduction in restructuring activities. For more information on our restructuring costs, see Note 4 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report.

•Amortization of intangible assets decreased by $2.7 million, primarily reflecting certain intangible assets having reached the end of their economic lives.

Currency Fluctuations

During the ~~third~~first quarter ~~and first nine months~~ of fiscal ~~2025~~2026, approximately 4750.76% ~~and 48.2%~~ of our operating expense was non-U.S. Dollar-denominated~~, respectively~~. During the ~~third~~first quarter ~~and first nine months~~ of fiscal ~~2025~~2026, as compared to the ~~third~~first quarter ~~and first nine months~~ of fiscal ~~2024~~2025, the U.S. Dollar ~~fluctuated~~generally weakened against other currencies. These currency fluctuations, net of hedging, had the effect of ~~reducing~~increasing our operating expense by aapproximately ~~negligible amount as compared to the third quarter of fiscal 2024, and~~ $124.3 8 million, or 1.01%, as compared to the first ~~nine~~quarter ~~months~~ of fiscal ~~2024~~2025.

Segment Profit (Loss)

Segment profit (loss) is determined based on internal performance measures used by our chief executive officer to assess the performance of each operating segment in a given period. In connection with that assessment, the chief executive officer excludes the following items: selling and marketing costs; general and administrative costs; significant asset impairments and restructuring costs; amortization of intangible assets; interest and other income, net; interest expense; loss on extinguishment and modification of debt; and provision for income taxes.

The table below sets forth the changes in our segment profit (loss) for the periods indicated (in thousands, except percentage data):

	Quarter Ended						Nine Months Ended
	August 2, 2025		July 27, 2024		%*		August 2, 2025		July 27, 2024		%*
Segment profit (loss):
Networking Platforms	$	181,993	$	106,870	70.3	%	$	482,784	$	387,211	24.7	%
Platform Software and Services	$	54,529	$	53,131	2.6	%	$	168,077	$	165,171	1.8	%
Blue Planet Automation Software and Services	$	4,192	$	4,705	(10.9)	%	$	13,059	$	(10,127)	229.0	%
Global Services	$	50,467	$	50,351	0.2	%	$	144,389	$	145,776	(1.0)	%


	Quarter Ended
	January 31, 2026		February 1, 2025		%*
Segment profit (loss):
Networking Platforms	$	316,631	$	182,162	73.8	%
Platform Software and Services	$	61,718	$	65,423	(5.7)	%
Blue Planet Automation Software and Services	$	(3,814)	$	6,500	(158.7)	%
Global Services	$	58,754	$	46,697	25.8	%

_____________________________________

* Denotes % change from fiscal ~~2024~~2025 to fiscal ~~2025~~2026

Quarter ended ~~August~~January 231, ~~2025~~2026 as compared to the quarter ended ~~July~~February 271, ~~2024~~2025

•Networking Platforms segment profit increased by $75134.15 million, primarily due to higher sales volume and improved gross margin as described above, partially offset by higher research and development costs.

•Platform Software and Services segment profit ~~increased~~decreased by $13.47 million, primarily due to ~~higher~~lower services sales volume as described above, ~~partially offset by reduced services margin as described above,~~ and increased research and development costs.

•Blue Planet Automation Software and Services segment ~~profit~~primarily ~~slightly~~reflects ~~decreased,~~lower ~~primarily~~software ~~due~~sales tovolume ~~reduced~~as ~~services~~described ~~margin~~above, ~~partially~~reduced ~~offset~~gross bymargins ~~higher~~and ~~sales~~increased ~~volume~~research asand ~~described~~development ~~above~~costs.

•Global Services segment profit ~~slightly~~ increased by $12.1 million, primarily due to increased sales volume as described above~~, partially offset by reduced services margin also described above~~.

Nine months ended August 2, 2025 as compared to the nine months ended July 27, 2024

•Networking Platforms segment profit increased by $95.6 million, primarily due to higher sales volume, partially offset by reduced product margin as described above, and higher research and development costs.

•Platform Software and Services segment profit increased by $2.9 million, primarily due to higher services sales volume, partially offset by increased research and development costs and reduced margins as described above.

•Blue Planet Automation Software and Services segment profit increased by $23.2 million, primarily due to higher sales volume as described above, improved margins, and lower research and development costs.

•Global Services segment profit slightly decreased by $1.4 million, primarily due to reduced services margins as described above, partially offset by increased sales volume also described above.

Other Items

The table below sets forth the changes in other items for the periods indicated (in thousands, except percentage data):

	Quarter Ended								~~Nine Months Ended~~
	August 2, 2025			July 27, 2024			%*		August 2, 2025			July 27, 2024			%*
	January 31, 2026			February 1, 2025			%*
Interest and other income, net	$	1512,~~090~~957		$	1411,~~013~~578		711.79	%	$	~~34,539~~		$	~~36,460~~		~~(5.3)~~	%
%**	10.29		%	1.51		%			~~1.0~~		%	~~1.3~~		%
Interest expense	$	2221,~~806~~254		$	2422,~~401~~918		(67.53)	%	$	~~67,421~~		$	~~72,038~~		~~(6.4)~~	%
%**	1.95		%	2.61		%			~~2.0~~		%	~~2.5~~		%
Loss on extinguishment and modification of debt	$	—		$	—729		—(100.0)	%	$	~~729~~		$	—		~~100.0~~	%
%**	—		%	—0.1		%			—		%	—		%
Provision for income taxes	$	1530,~~511~~832		$	224,~~125~~022		~~629~~28.93	%	$	~~49,580~~		$	~~24,901~~		~~99.1~~	%
%**	12.32		%	02.2		%			~~1.5~~		%	~~0.9~~		%

_____________________________________

* Denotes % change from fiscal ~~2024~~2025 to fiscal ~~2025~~2026

** Denotes % of total revenue

Quarter ended ~~August~~January 231, ~~2025~~2026 as compared to the quarter ended ~~July~~February 271, ~~2024~~2025

•Interest and other income, net ~~remained~~increased ~~relatively~~by ~~unchanged~~$1.4 million, primarily reflecting the impact of foreign exchange rates on assets and liabilities denominated in a currency other than the relevant functional currency, net of hedging activity.

•Interest expense decreased by $1.67 million, primarily due to lower interest rates on our floating rate debt, net of hedging activity. ~~For more information on our short-term and long-term debt, see Note 12 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report.~~

•~~Provision~~Loss ~~for~~on ~~income~~extinguishment ~~taxes~~and ~~increased~~modification byof ~~$13.4~~debt ~~million,~~reflects ~~primarily~~the ~~due~~refinancing toof ~~the~~our ~~increase~~2030 Term Loan in ~~income~~the ~~before~~first ~~income~~quarter ~~taxes~~of fiscal 2025.

~~Nine~~•Provision ~~months~~for ~~ended~~income ~~August 2,~~taxes ~~2025~~increased asby ~~compared~~$6.8 million, primarily due to the ~~nine~~increase ~~months~~in ~~ended~~pre-tax ~~July 27,~~book ~~2024~~ income.

•Interest and other income, net decreased by $1.9 million, primarily resulting from lower interest income on our investments, partially offset by the impact of foreign exchange rates on assets and liabilities denominated in a currency other than the relevant functional currency, net of hedging activity.

•Interest expense decreased by $4.6 million, primarily due to lower interest rates on our floating rate debt, net of hedging activity. For more information on our short-term and long-term debt, see Note 12 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report.

•Loss on extinguishment and modification of debt reflects the refinance of our 2030 Term Loan in the first quarter of fiscal 2025. See Note 12 to our Condensed Consolidated Financial Statements included in Item 1 of Part 1 of this report for more details.

•Provision for income taxes increased by $24.7 million, primarily due to the increase in income before income taxes.

Liquidity and Capital Resources

3330

Based on past performance and current expectations, we believe that cash from operations, cash, cash equivalents, investments, and other sources of liquidity, including our Revolving Credit Facility (as defined below), will satisfy our currently anticipated working capital needs, capital expenditures, and other liquidity requirements associated with our operations through the next 12 months and the reasonably foreseeable future. We regularly evaluate our capital structure, liquidity position, debt obligations, and anticipated cash needs to fund our operating or investment plans ~~or increase our strategic flexibility~~, and we will continue to consider capital raising and other market opportunities. that may be available to us.

Principal Sources of Liquidity. Our principal sources of liquidity on hand include our cash, cash equivalents, and investments, which, as of ~~August~~January 231, ~~2025~~2026, totaled $1.4 billion, as well as ~~the unused portion of~~ our ~~senior secured revolving~~ credit facility (the “Revolving Credit Facility”), to which we and certain of our subsidiaries are parties. The Revolving Credit Facility provides for a total commitment of $300.0 million with a maturity date of October 24, 2028. We principally use the Revolving Credit Facility to support the issuance of letters of credit that arise in the ordinary course of our business and for general corporate purposes. As of ~~August~~January 231, ~~2025~~2026, letters of credit totaling $5241.1 million were issued under the Revolving Credit Facility. There were no borrowings outstanding under the Revolving Credit Facility as of ~~August~~January 231, ~~2025~~2026.

Foreign Liquidity. The amount of cash, cash equivalents and short-term investments held by our foreign subsidiaries was $~~539~~351.57 million as of ~~August~~January 231, ~~2025~~2026. Approximately $92.13 million of ~~future~~undistributed ~~cash~~earnings ~~generated~~ from these foreign subsidiaries is expected to be repatriated, with any remaining amount continuing to be indefinitely reinvested. A deferred tax liability related to the expected repatriation amount was accrued in fiscal 2023. There are no other significant temporary differences related to our investment in the foreign subsidiaries for which a deferred tax liability has not been recognized.

Stock ~~Repurchase Authorization~~Repurchases. On October 2, 2024, we announced that our Board of Directors authorized a program to repurchase up to $1.0 billion of our common stock, which replaced in its entirety the previous stock repurchase program authorized in fiscal 2022. During the first ~~nine~~three months of fiscal ~~2025~~2026, we repurchased $~~245~~80.25 million of our common stock under the stock repurchase program, and $~~754~~589.8 million remained under the current repurchase authorization as of ~~August~~January 231, ~~2025~~2026. The amount and timing of any further repurchases under our stock repurchase program are subject to a variety of factors including liquidity, cash flow, stock price, and general business and market conditions. The program may be modified, suspended, or discontinued at any time. During the first quarter of fiscal 2026, we also repurchased $90.1 million of our common stock in settlement of employee tax withholding obligations due upon the vesting of stock unit awards. See Note 15 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report as well as “Issuer Purchases of Equity Securities” in Item 2 of Part II of this report.

Cash Flows

The following table sets forth changes in our cash, cash equivalents, and investments in marketable debt securities for the periods indicated (in thousands):

August 2,2025

November 2,2024

Increase (Decrease)

January 31,2026

November 1,2025

Increase (Decrease)

Cash and cash equivalents

1,~~055~~123,~~976~~413

~~934~~1,~~863~~091,952

~~121~~31,~~113~~461

Short-term investments in marketable debt securities

~~270~~176,~~380~~315

~~316~~216,~~343~~148

(4539,~~963~~833)

Long-term investments in marketable debt securities

6469,~~397~~876

8057,~~920~~142

~~(16~~12,~~523)~~734

Total cash, cash equivalents, and investments in marketable debt securities

1,~~390~~369,~~753~~604

1,~~332~~365,~~126~~242

584,~~627~~362

Cash, cash equivalents and investments increased by $584.64 million during the first ~~nine~~three months of fiscal ~~2025~~2026. Cash from operating activities generated $~~435~~227.06 million, which was partially offset by the following: (i) ~~cash used for~~ stock repurchases ~~under~~on ~~our~~vesting ~~stock repurchase program~~ of ~~$250.0~~our ~~million;~~stock ~~(ii)~~unit ~~cash~~awards ~~used~~ to ~~fund~~employees ~~our~~relating ~~investing~~to ~~activities~~tax ~~for~~withholding ~~capital~~of ~~expenditures totaling~~ $9590.41 million; (~~iii~~ii) ~~stock~~cash ~~repurchases~~used onfor ~~vesting~~stock ofrepurchases under our stock ~~unit~~repurchase ~~awards~~program ~~to employees relating to tax withholding~~ of $6080.05 million; and (iviii) cash used ~~for~~to ~~payments~~fund on our ~~term~~investing ~~loan~~activities ~~due~~for ~~October~~capital ~~28,~~expenditures ~~2030~~totaling of $873.79 million. In addition to cash provided by operating activities, proceeds from the issuance of equity under our employee stock purchase plan provided $3517.92 million in cash during the ~~nine~~three months ended ~~August~~January 231, ~~2025~~2026.

Cash Provided By Operating Activities

The following sections set forth the components of our $~~435~~227.06 million of cash provided by operating activities during the first ~~nine~~three months of fiscal ~~2025~~2026. Net income (adjusted for non-cash charges) provided cash of ~~approximately~~ $~~369~~265.53 million, ~~and~~offset by cash ~~provided~~used byin operating assets and liabilities ~~was~~of ~~approximately~~ $6537.57 million.

Net income (adjusted for non-cash charges)

The following table sets forth our net income (adjusted for non-cash charges) during the period (in thousands):

	Nine Months Ended
	August 2, 2025
Net income	$	103,849
Adjustments for non-cash charges:
Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements	76,637
Share-based compensation expense	135,696
Amortization of intangible assets	26,343
Deferred taxes	(21,709)
Provision for inventory excess and obsolescence	34,185
Provision for warranty	16,302
Other	(1,838)
Net income (adjusted for non-cash charges)	$	369,465


	Three Months Ended
	January 31, 2026
Net income	$	150,283
Adjustments for non-cash charges:


Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements	32,309
Share-based compensation expense	49,827
Amortization of intangible assets	11,521
Deferred taxes	(7,043)
Provision for inventory excess and obsolescence	21,832
Provision for warranty	8,185

Other	(1,545)
Net income (adjusted for non-cash charges)	$	265,369

Operating Assets and Liabilities

Operating asset and liability requirements ~~decreased~~increased by $6537.57 million during the period. The following table sets forth the major components of the cash changes in operating assets and liabilities (in thousands):

	Nine Months Ended
	Three Months Ended
	August 2, 2025
	January 31, 2026
Accounts receivable	$	~~(116~~9,~~887)~~406
Inventories	(7341,~~493~~228)
Prepaid expenses and other	~~137~~40,~~440~~024
Accounts payable, accruals, and other obligations	83(130,~~354~~907)
Deferred revenue	3886,~~246~~013
Operating lease assets and liabilities, net	(31,~~109~~032)
Total cash provided by operating assets and liabilities	$	65,551
Total cash consumed by operating assets and liabilities	$	(37,724)

As compared to the end of fiscal ~~2024~~2025, for the first ~~nine~~three months of fiscal ~~2025~~2026:

•The change in accounts receivable primarily reflects ~~the~~improved ~~timing of~~ cash collections ~~from~~partially ~~customers~~offset ~~and~~by increased sales volume;

•The change in inventories primarily reflects ~~increases~~our instrategy ~~raw~~to ~~materials~~mitigate supply chain volatility and ensure uninterrupted fulfillment of orders;

•The change in prepaid expenses and other primarily reflects lower prepaid value-added tax (VAT), lower contract assets for unbilled accounts receivable, and reduced refundable cash advances to a third-party contract manufacturer ~~partially offset by increased contract assets for unbilled accounts receivable~~;

•The change in accounts payable, accruals, and other obligations primarily reflects athe ~~higher~~timing ~~accrual~~of payments associated with our annual incentive compensation plan, ~~the~~partially ~~timing~~offset ofby ~~payments to suppliers and~~ the timing of payments for payroll, ~~partially~~and ~~offset~~higher bypayroll ~~timing~~related ~~of payments for income taxes~~costs;

•The change in deferred revenue primarily represents an increase in advanced payments received on multi-year maintenance contracts from customers prior to revenue recognition; and

•The change in operating lease assets and liabilities, net, represents cash paid for operating lease payments in excess of operating lease costs.

Our days sales outstanding (“DSOs”) decreased from 97 for the first nine months of fiscal 2024 to 94 for the first nine months of fiscal 2025. The calculation of DSOs includes accounts receivables, net, and contract assets for unbilled receivables, net included in prepaid expenses and other. Our inventory turns increased from 1.9 for the first nine months of fiscal 2024 to 2.5 for the first nine months of fiscal 2025.

Cash Paid for Interest, Net

The following table sets forth the cash paid for interest, net, during the period (in thousands):

	Nine Months Ended
	August 2, 2025
2030 Term Loan terminated January 17, 2025(1)	$	18,639
Refinanced 2030 Term Loan due October 28, 2030(2)	35,991
2030 Senior Notes due January 31, 2030(3)	16,000
Interest rate swaps(4)	(6,284)
Revolving Credit Facility(5)	1,364
Finance leases	2,533
Cash paid during period	$	68,243

(1) The 2030 Term Loan bore interest at SOFR for the chosen borrowing period plus a spread of 2.00% subject to a minimum SOFR rate of 0.00%.


	Three Months Ended
	January 31, 2026

Refinanced 2030 Term Loan due October 28, 2030(1)	16,600
2030 Senior Notes due January 31, 2030(2)	—
Interest rate swaps(3)	(955)
Revolving Credit Facility(4)	428
Finance leases	806
Cash paid during period	$	16,879

(21) Interest on the Refinanced 2030 Term Loan is payable periodically based on the interest period selected for borrowing. The Refinanced 2030 Term Loan bears interest at SOFR for the chosen borrowing period plus a spread of 1.75% subject to a minimum SOFR rate of 0.00%. At the end of the ~~third~~first quarter of fiscal ~~2025~~2026, the interest rate on the Refinanced 2030 Term Loan was 65.1043%.

(32) The 2030 Notes bear interest at a rate of 4.00% per annum. Interest is payable on the 2030 Notes in arrears on January 31 and July 31 of each year.

(43) Our interest rate swaps fix the SOFR rate for $350.0 million of our Term Loan at 3.47% through January 2028 and another $350.0 million of our Term Loan at 23.~~968~~287% through ~~September~~December ~~2025~~2028.

(54) During the first ~~nine~~three months of fiscal ~~2025~~2026, we utilized the Revolving Credit Facility to issue certain standby letters of credit and paid nominal commitment fees, interest expense and other administrative charges primarily relating to the Revolving Credit Facility.

For additional information about our debt and interest rate swaps, see Notes 1011 and 12 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report.

Contractual Obligations

Our contractual obligations have not changed materially since November 21, ~~2024~~2025. For a summary of our contractual obligations, see “Liquidity and Capital Resources – Contractual Obligations” in Item 7 of Part II of our ~~2024~~2025 Annual Report.

Critical Accounting Policies and Estimates

Our critical accounting policies and estimates have not changed materially since November 21, ~~2024~~2025. For a discussion of our critical accounting policies and estimates, see “Critical Accounting Policies and Estimates” in Item 7 of Part II of our ~~2024~~2025 Annual Report.

Effects of Recent Accounting Pronouncements

See Note 2 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report for information relating to our discussion of the effects of recent accounting pronouncements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

36We are exposed to market risk related to changes in interest rates and foreign currency exchange rates. For a discussion of quantitative and qualitative disclosures about market risk, see Item 7A of Part II of our 2025 Annual Report.

We are exposed to market risk related to changes in interest rates and foreign currency exchange rates. For a discussion of quantitative and qualitative disclosures about market risk, see Item 7A of Part II of our 2024 Annual Report.

Item 4. Controls and Procedures

Disclosure Controls and Procedures

As of the end of the period covered by this report, we carried out an evaluation under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer, of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). Based upon this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report.

Changes in Internal Control over Financial Reporting

There was no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings

The information set forth under the heading “Commitments and Contingencies - Litigation” in Note 18 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report, is incorporated herein by reference.

Item 1A. Risk Factors

There has been no material change to our Risk Factors from those presented in our 2025 Annual Report. Investing in our securities involves a high degree of risk. Before investing in our securities, you should consider carefully the information contained in this report and in our ~~2024~~2025 Annual Report, including the information under ~~“Risk Factors” in~~ Item 1A of Part I thereof. This report contains forward-looking statements that involve risks and uncertainties. See “Management’s Discussion and Analysis of Financial Conditions and Results of Operations – Cautionary Note Regarding Forward-Looking Statements” in ~~Item 2 of Part I of~~ this report. Our actual results could differ materially from those contained in the forward-looking statements. Any of the risks discussed in our ~~2024~~2025 Annual Report, in this report, in other reports we file with the SEC, and other risks we have not anticipated or discussed, could have a material adverse impact on our business, financial condition, or results of operations. ~~Except as set forth below, there has been no material change to the material factors that make an investment in our securities speculative or risky from those presented in our 2024 Annual Report.~~

Tariffs and other import measures imposed by the United States or other countries may adversely affect our business, operations, and financial results.

In January 2025, the U.S. government commenced a broad review of U.S. trade relations and began imposing, or threatening to impose, tariffs on certain countries, materials, and industries. In response, certain impacted countries have imposed or threatened various retaliatory tariffs or other trade restrictions. We rely on a global sourcing strategy and third-party contract manufacturers outside of the United States to perform substantially all of our manufacturing. Moreover, revenue in the United States represented approximately 70% of our revenue in fiscal 2024. Significant changes to trade policy, the imposition of tariffs, or retaliatory responses thereto, have adversely impacted and could materially adversely impact our business, operations, and financial results, including by increasing our costs, by decreasing our profit margins, and/or by making our products less competitive. The tariff policy environment has been and can be expected to continue to be dynamic. Tariffs recently implemented that have impacted or could materially impact our business include tariffs on imports:

•from Canada and Mexico, as products making up a significant portion of our revenue are manufactured in or distributed from Mexico, and we generally introduce new products and conduct related early volume manufacturing in Canada;

•of steel, aluminum, and copper, including derivative goods that include certain of our products;

•from China, as our supply chain includes certain China-based suppliers; and

•from a wide range of countries globally, including Thailand and Vietnam, where we also rely on third-party manufacturing operations for a significant portion of our revenue.

Additionally, we currently rely upon certain trade agreements and product or technology based exemptions that reduce our tariff exposure. The U.S. government is currently investigating imports of a range of different products, including semiconductors and critical raw minerals, and derivative products relevant to our business and products, which could result in material additional tariffs. There can be no guarantee as to which of our products will be impacted by new or changing tariffs, or that they will remain eligible for exceptions under existing or future trade agreements or executive orders.

We have taken steps, and may take additional steps, to attempt to mitigate the impact of tariffs on our business, including: by availing ourselves of certain exemptions to tariffs; by making changes to our supply chain practices, sources of supply, or manufacturing locations; and by passing the cost of tariffs to customers. These changes could take considerable time to implement, result in significant costs, and cause supply chain delays or disruption. Moreover, there can be no assurance as to customer reaction to the current trade environment, the imposition of new tariffs, or any tariff mitigation steps we elect to take. Among other things, customers may elect to reduce spending, renegotiate contracts, defer orders or delivery of existing orders, or shift purchases to other vendors, each of which would adversely impact our financial results and competitive position with customers.

Certain tariffs that have been implemented or proposed are subject to legal challenges, but there can be no assurance that such challenges will be successful or that, if successful, additional or alternative tariffs will not be imposed. The results of such legal challenges, including any potential resulting retroactive changes to tariffs, could adversely impact our financial results.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Issuer Purchases of Equity Securities

The following table provides a summary of repurchases of our common stock during the ~~third~~first quarter of fiscal ~~2025~~2026:

Period	Total Number of Shares Purchased (1)	Average Price Paid per Share(1)		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in thousands)(1)
May 4, 2025 to May 31, 2025	318,958	$	78.63	318,958	$	811,575
November 2, 2025 to November 29, 2025	128,961	$	194.46	128,961	$	645,266
June 1, 2025 to June 28, 2025	329,467	$	76.12	329,467	$	786,495
November 30, 2025 to December 27, 2025	116,215	$	215.78	116,215	$	620,188
June 29, 2025 to August 2, 2025	377,372	$	83.95	377,372	$	754,816
December 28, 2025 to January 31, 2026	126,821	$	239.37	126,821	$	589,831
	1,025,797	$	79.78	1,025,797
	371,997	$	216.43	371,997

(1) On October 2, 2024, we announced that our Board of Directors authorized a program to repurchase up to $1.0 billion of our common stock, which replaced in its entirety the previous stock repurchase program. The program may be modified, suspended, or discontinued at any time. During the ~~third~~first quarter of fiscal ~~2025~~2026, we repurchased $8180.85 million of our common stock under the stock repurchase program, and we had $~~754~~589.8 million remaining under the current repurchase authorization as of ~~August~~January 231, ~~2025~~2026. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Stock Repurchase Authorization” in Item 2 of Part I of this report and Note 15 to our Condensed Consolidated Financial Statements included in Item 1 of Part I of this report for information regarding the stock repurchase program authorized by our Board of Directors.

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Rule 10b5-1 Trading Arrangements

~~The~~34 following table describes, for the third quarter of fiscal 2025, each trading arrangement for the sale or purchase of our securities adopted, terminated or for which the amount, pricing or timing provisions were modified by our directors and officers (as defined in Rule 16a-1(f) of the Exchange Act) that is either (1) a contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “Rule 10b5-1 trading arrangement”) or (2) a “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) of Regulation S-K):

38The following table describes, for the first quarter of fiscal 2026, each trading arrangement for the sale or purchase of our securities adopted, terminated or for which the amount, pricing or timing provisions were modified by our directors and officers (as defined in Rule 16a-1(f) of the Exchange Act) that is either (1) a contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “Rule 10b5-1 trading arrangement”) or (2) a “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) of Regulation S-K):

Name(Title)

Action Taken (Date of Action)

Type of Trading Arrangement

Nature of Trading Arrangement

Duration of Trading Arrangement

Aggregate Number of Securities to be Purchased or Sold

Dino DiPerna(Senior Vice President, Global Research & Development)

Adoption (July 11, 2025)

Rule 10b5-1 trading arrangement

Sales

Until July 24, 2026, or such earlier date upon which all transactions are completed or expire without execution (1)

(2)

Brodie Gage(Senior Vice President, Global Products & Supply Chain)

Modification (December 23, 2025) (1)

Rule 10b5-1 trading arrangement

Sales

Until December 31, 2026, or such earlier date upon which all transactions are completed or expire without execution (2)

Up to 15,800 shares of common stock (3)

Brodie Gage(Senior Vice President, Global Products & Supply Chain)

Adoption (July 1, 2025)

Rule 10b5-1 trading arrangement

Sales

Until December 31, 2026, or such earlier date upon which all transactions are completed or expire without execution (3)

Up to 7,150 shares of common stock

(1) ~~Sales~~ On ~~under~~December ~~this~~23, ~~arrangement~~2025, ~~will~~Mr. ~~not~~Gage ~~begin~~modified ~~until~~the ~~November~~Rule ~~17,~~10b5-1 ~~2025~~trading arrangement (as modified, ~~following~~the ~~expiration~~“Gage ofModified ~~Mr.~~Arrangement”) ~~DiPerna’s~~that ~~existing~~he ~~Rule~~adopted ~~10b5-~~on July 1, ~~trading~~2025 ~~arrangement~~(the “Gage Original Arrangement”).

(2) The ~~aggregate~~Gage ~~number~~Modified ofArrangement ~~shares~~changed ofthe ~~common~~trading ~~stock~~schedule toand beawards sold ~~pursuant~~but to Mr. DiPerna’s arrangement is up to (i) 6,391 shares of common stock, plus (ii) up to 50% of the net after-tax shares of common stock to be received as a result of the vesting on December 20, 2025 of an aggregate of (a) 2,616 earned performance stock units, (b) performance stock units that have not ~~yet been earned,~~ the ~~actual~~duration ~~number~~ of ~~which depends on performance and ranges from 0% to 200% of~~ the ~~3,829~~arrangement. ~~shares~~Sales ~~subject~~under to the ~~award~~Gage atModified ~~the~~Arrangement ~~target~~will ~~level~~not ofbegin ~~performance,~~until ~~and (c) 3,965 restricted stock units, plus (iii) up to 50% of the net after-tax shares of common stock to be received as a result of the vesting on~~ March 2024, 2026 of an aggregate of up to 3,368 restricted stock units, plus (iv) up to 50% of the net after-tax shares of common stock to be received as a result of the vesting on June 20, 2026 of an aggregate of 3,370 restricted stock units. ~~The actual number of net after-tax shares to be received will vary based on the market price of our common stock at the time of settlement.~~

(3) ~~Sales~~The ~~under~~aggregate ~~this~~number ~~arrangement~~of ~~will~~shares ~~not~~of ~~begin~~common ~~until~~stock ~~December~~to ~~15,~~be ~~2025,~~sold ~~following~~pursuant ~~expiration~~to ofthe ~~Mr.~~ Gage’s ~~existing~~Original ~~Rule~~Arrangement ~~10b5-1~~was ~~trading~~up ~~arrangement~~to 7,150 shares of common stock.

3935

Item 6. Exhibits

10.1			~~Employment~~Form ~~Offer~~of ~~Letter~~Employee ~~between~~Restricted ~~Ciena~~Stock ~~Corporation~~Unit ~~and~~Agreement ~~Marc~~for D.Ciena ~~Graff,~~Corporation ~~dated~~2017 ~~June~~Omnibus ~~13,~~Incentive Plan (revised 2025) (incorporated by reference to Exhibit 10.15 to the Company’s ~~Current~~Annual Report on Form 810-K (Commission File No. 001-36250) filed with the Securities and Exchange Commission on ~~June~~December 1812, 2025).*
10.2			Change in Control Severance Agreement dated November 30, 2025, between Ciena Corporation and Gary B. Smith (incorporated by reference to Exhibit 10.31 to the Company’s Annual Report on Form 10-K (Commission File No. 001-36250) filed with the Securities and Exchange Commission on December 12, 2025).*
10.3			Form of Change in Control Severance Agreement dated November 30, 2025, between Ciena Corporation and Executive Officers (incorporated by reference to Exhibit 10.32 to the Company’s Annual Report on Form 10-K (Commission File No. 001-36250) filed with the Securities and Exchange Commission on December 12, 2025).*
31.1			Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2			Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1			Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2			Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS			Inline XBRL Instance Document - The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH			Inline XBRL Taxonomy Extension Schema Document
101.CAL			Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF			Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB			Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE			Inline XBRL Taxonomy Extension Presentation Linkbase Document
104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
*			Represents management contract or compensatory plan or arrangement

4036

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Ciena Corporation

Date:

~~September~~March 45, ~~2025~~2026

By:

/s/ Gary B. Smith

Gary B. Smith

President, Chief Executive Officerand Director(Duly Authorized Officer)

Date:

~~September~~March 45, ~~2025~~2026

By:

/s/ Marc D. Graff

Marc D. Graff

Senior Vice President, Finance andChief Financial Officer(Principal Financial Officer)

4137

Filing Compare · CIENA CORP