Coherent Corp. Files Q2 FY25 10-Q
Ticker: COHR · Form: 10-Q · Filed: Feb 5, 2025 · CIK: 820318
Sentiment: neutral
Topics: 10-Q, financials, reporting
Related Tickers: COHR
TL;DR
COHR 10-Q filed for Q2 FY25. Financials updated.
AI Summary
Coherent Corp. filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of their fiscal year 2025. Key financial data and business operations for the period are detailed, with the company previously known as II-VI Inc. before a name change on July 3, 1992.
Why It Matters
This filing provides investors with an update on Coherent Corp.'s financial performance and operational status for the second quarter of fiscal year 2025, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Players & Entities
- COHERENT CORP. (company) — Filer
- II-VI INC. (company) — Former company name
- 2024-12-31 (date) — Period of report
- 2025-02-05 (date) — Filed as of date
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20241231, indicating the period ending December 31, 2024.
When was this 10-Q filed?
The filing was made on 20250205.
What was Coherent Corp.'s former name?
The company was formerly known as II-VI INC.
What is Coherent Corp.'s fiscal year end?
Coherent Corp.'s fiscal year ends on 0630.
What is the Standard Industrial Classification for Coherent Corp.?
The SIC code is 3827, for Optical Instruments & Lenses.
Filing Stats: 4,762 words · 19 min read · ~16 pages · Grade level 18 · Accepted 2025-02-05 16:18:14
Key Financial Figures
- $000 — nsolidated Balance Sheets (Unaudited) ($000) December 31, 2024 June 30, 2024 Ass
Filing Documents
- iivi-20241231.htm (10-Q) — 1492KB
- ex1001-transitionacknowled.htm (EX-10.01) — 13KB
- ex3101-ceocertificationxfy.htm (EX-31.01) — 9KB
- ex3102-cfocertificationxfy.htm (EX-31.02) — 9KB
- ex3201-ceosoxxfy25q2.htm (EX-32.01) — 5KB
- ex3202-cfosoxxfy25q2.htm (EX-32.02) — 5KB
- image_1a.jpg (GRAPHIC) — 45KB
- 0000820318-25-000004.txt ( ) — 8526KB
- iivi-20241231.xsd (EX-101.SCH) — 48KB
- iivi-20241231_cal.xml (EX-101.CAL) — 76KB
- iivi-20241231_def.xml (EX-101.DEF) — 258KB
- iivi-20241231_lab.xml (EX-101.LAB) — 647KB
- iivi-20241231_pre.xml (EX-101.PRE) — 490KB
- iivi-20241231_htm.xml (XML) — 1362KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements: Condensed Consolidated Balance Sheets – December 31, 2024 and June 30, 2024 (Unaudited) 3 Condensed Consolidated Statements of Earnings (Loss) – Three and Six Months Ended December 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Comprehensive Income (Loss) – Three and Six Months Ended December 31, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows – Six Months Ended December 31, 2024 and 2023 (Unaudited) 7 Condensed Consolidated Statements of Equity and Mezzanine Equity – Three and Six Months Ended December 31, 2024 and 2023 (Unaudited) 9 Notes to Condensed Consolidated Financial Statements (Unaudited) 10 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.
Controls and Procedures
Controls and Procedures 34
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 35 Item 1A.
Risk Factors
Risk Factors 35 Item 5. Other Information 35 Item 6. Exhibits 36 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
Item 1. FINANCIAL STATEMENTS Coherent Corp. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) ($000) December 31, 2024 June 30, 2024 Assets Current Assets Cash and cash equivalents $ 917,815 $ 926,033 Restricted cash, current 11,826 174,008 Accounts receivable - less allowance for doubtful accounts of $ 8,226 at December 31, 2024 and $ 9,511 at June 30, 2024 891,789 848,542 Inventories 1,344,563 1,286,404 Prepaid and refundable income taxes 24,180 26,909 Prepaid and other current assets 307,269 398,203 Total Current Assets 3,497,442 3,660,099 Property, plant & equipment, net 1,889,578 1,817,259 Goodwill 4,391,055 4,464,329 Other intangible assets, net 3,313,680 3,503,247 Deferred income taxes 53,550 40,966 Restricted cash, non-current 739,001 689,645 Other assets 313,028 313,089 Total Assets $ 14,197,334 $ 14,488,634 Liabilities, Mezzanine Equity and Equity Current Liabilities Current portion of long-term debt $ 27,208 $ 73,770 Accounts payable 689,892 631,548 Accrued compensation and benefits 213,534 212,458 Operating lease current liabilities 41,008 40,580 Accrued income taxes payable 99,029 90,705 Other accrued liabilities 238,617 294,706 Total Current Liabilities 1,309,288 1,343,767 Long-term debt 3,832,694 4,026,448 Deferred income taxes 712,798 784,374 Operating lease liabilities 163,309 162,355 Other liabilities 214,031 225,411 Total Liabilities 6,232,120 6,542,355 Mezzanine Equity Series B redeemable convertible preferred stock, no par value, 5 % cumulative; issued - 215,000 shares at December 31, 2024 and June 30, 2024; redemption value - $ 2,488,935 and $ 2,427,860 , respectively 2,428,867 2,364,772 Shareholders' Equity Common stock, no par value; authorized - 300,000,000 shares; issued - 171,115,185 shares at December 31, 2024; 168,406,323 shares at June 30, 2024 4,957,079 4,857,657 Accumulated other comprehensive income (loss) (AOCI) ( 159,716 ) 2,640 Retained earnings 730,117 664,940 5,527