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Infinera
Infinera (INFN) investor relations material
Infinera has been acquired by Nokia Oyj
Infinera Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2024 earnings summary27 Feb, 2025
Executive summary
FY'24 bookings and backlog grew year-over-year, with a book-to-bill ratio of 1.1x for FY'24 and 1.3x for Q4'24.
Record revenue exposure to webscalers, exceeding 50% of FY'24 revenue.
Major design wins for GX systems and ICE-X pluggables with webscalers and Tier 1 CSPs.
Launched ICE-D to address intra-data center demand driven by AI workloads.
Announced definitive agreement to be acquired by Nokia, expected to close by February 28, 2025.
Financial highlights
Q4'24 GAAP revenue: $414.4M (up from $354.4M in Q3'24, down from $453.5M in Q4'23).
Q4'24 GAAP net loss: $(26.3)M, or $(0.11) per share (vs. $(14.3)M in Q3'24, $12.9M in Q4'23).
Q4'24 non-GAAP net income: $8.2M, or $0.03 per share (vs. $0.3M in Q3'24, $28.6M in Q4'23).
FY'24 GAAP revenue: $1,418.4M (down from $1,614.1M in FY'23).
FY'24 GAAP net loss: $(150.3)M, or $(0.64) per share (vs. $(25.2)M in FY'23).
FY'24 non-GAAP net loss: $(43.8)M, or $(0.19) per share (vs. $53.4M, or $0.23 per share in FY'23).
Q4'24 free cash flow: $43.8M; FY'24 free cash flow: $5.7M (vs. $(12.8)M in FY'23).
Outlook and guidance
No financial guidance provided due to pending Nokia acquisition.
Nokia merger's impact on AI optics?
Significance of CHIPS Act funding?
Why the FY24 non-GAAP net loss?
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Infinera Corporation designs and manufactures optical networking equipment and solutions for telecommunications service providers, cloud operators, and enterprises. The company offers products that enable high-capacity data transmission across long-haul, metro, and subsea networks. The company is headquartered in San Jose, California, and its shares are listed on the NASDAQ.
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