Ciena Corp. Files 2024 Annual Report
Ticker: CIEN · Form: 10-K · Filed: Dec 20, 2024 · CIK: 936395
Sentiment: neutral
Topics: 10-K, annual-report, telecommunications-equipment
TL;DR
Ciena's 2024 10-K is in. Full financials and biz details out now.
AI Summary
Ciena Corp. filed its 10-K for the fiscal year ending November 2, 2024, reporting on its financial performance and business operations. The company, headquartered in Hanover, Maryland, operates within the Telephone & Telegraph Apparatus industry. This filing provides a comprehensive overview of Ciena's fiscal year, including financial statements and business disclosures.
Why It Matters
This 10-K filing provides investors and stakeholders with a detailed look into Ciena's financial health and strategic direction for the fiscal year 2024, impacting investment decisions and market perception.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.
Key Players & Entities
- CIENA CORP (company) — Filer
- 2024-11-02 (date) — Fiscal Year End
- 3661 (industry_code) — Standard Industrial Classification
- 232725311 (tax_id) — IRS Number
- MD (state) — State of Incorporation
- 001-36250 (sec_file_number) — SEC File Number
- HANOVER (city) — Business Address City
- 21076 (zip_code) — Business Address Zip
- 4108658500 (phone_number) — Business Phone
FAQ
What is Ciena Corp.'s fiscal year end date?
Ciena Corp.'s fiscal year end date is November 2, 2024.
What is Ciena Corp.'s Standard Industrial Classification code?
Ciena Corp.'s Standard Industrial Classification code is 3661, which corresponds to Telephone & Telegraph Apparatus.
In which state was Ciena Corp. incorporated?
Ciena Corp. was incorporated in Maryland (MD).
What is the SEC file number for Ciena Corp.'s 10-K filing?
The SEC file number for Ciena Corp.'s 10-K filing is 001-36250.
What is the business address of Ciena Corp.?
Ciena Corp.'s business address is 7035 Ridge Road, Hanover, MD 21076.
Filing Stats: 4,326 words · 17 min read · ~14 pages · Grade level 17.1 · Accepted 2024-12-20 15:17:13
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value CIEN New York Stock Exchange
Filing Documents
- cien-20241102.htm (10-K) — 2991KB
- ex105-2017planxrsuagreemen.htm (EX-10.5) — 245KB
- ex191insidertradingpolicyf.htm (EX-19.1) — 35KB
- ex2112024112-subsidiarieso.htm (EX-21.1) — 4KB
- ex231202411210kpwcconsent.htm (EX-23.1) — 2KB
- ex311202411210kceocert302.htm (EX-31.1) — 9KB
- ex312202411210kcfocert302.htm (EX-31.2) — 8KB
- ex321202411210kceocert906.htm (EX-32.1) — 5KB
- ex322202411210kcfocert906.htm (EX-32.2) — 4KB
- cien-20241102_g1.jpg (GRAPHIC) — 51KB
- 0000936395-24-000044.txt ( ) — 16193KB
- cien-20241102.xsd (EX-101.SCH) — 92KB
- cien-20241102_cal.xml (EX-101.CAL) — 174KB
- cien-20241102_def.xml (EX-101.DEF) — 465KB
- cien-20241102_lab.xml (EX-101.LAB) — 1150KB
- cien-20241102_pre.xml (EX-101.PRE) — 821KB
- cien-20241102_htm.xml (XML) — 2856KB
Risk Factors
Item 1A. Risk Factors 23
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 42
Cybersecurity
Item 1C. Cybersecurity 42
Properties
Item 2. Properties 43
Legal Proceedings
Item 3. Legal Proceedings 45
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 45 PART II
Market for Registrant's Common Stock, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Stock, Related Stockholder Matters and Issuer Purchases of Equity Securities 45
[Reserved]
Item 6. [Reserved] 46
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 47
Quantitative and Qualitative Disclosures about Market Risk
Item 7A. Quantitative and Qualitative Disclosures about Market Risk 62
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 63
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 110
Controls and Procedures
Item 9A. Controls and Procedures 110
Other Information
Item 9B. Other Information 110
Disclosure Regarding Foreign Jurisdictions that Prevent Inspection
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 111 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 112
Executive Compensation
Item 11. Executive Compensation 112
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 112
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 112
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 112 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 113
Form 10-K Summary
Item 16. Form 10-K Summary 113
Signatures
Signatures 114 Index to Exhibits 115 3 Table of Contents PART I Cautionary Note Regarding Forward-Looking Statements This annual 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, business prospects and strategies, and other "forward-looking" information. 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," or "continue" or the negative of those words and other comparable words. These statements may relate to, among other things: our competitive landscape; market conditions and growth opportunities; factors impacting our industry and markets, including macroeconomic conditions and global supply chain constraints; factors impacting the businesses of network operators, their network architectures and their adoption of next-generation network infrastructures; our strategy, including our research and development, supply chain and go-to-market initiatives and our efforts to increase the reach of our business into new or growing product, customer and geographic markets; our order volumes, backlog and seasonality in our business; expectations for our financial results, revenue, gross margin, operating expense and key operating measures in future periods; the adequacy of our sources of liquidity to satisfy our working capital needs, capital expenditures and other liquidity requirements; cybersecurity events; business initiatives including information technology ("IT") and environmental, social and governance ("ESG") initiatives; the impact of changes in tax law and our effective tax rates; and market risks associated with financial instruments and foreign currency exchange rates. These statements are subject
Business
Item 1. Business Overview 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. By using our network solutions to transform network infrastructures into dynamic, programmable environments driven by automation and analytics, we believe network operators can realize greater business agility, adapt dynamically to changing end-user service demands, rapidly introduce new revenue-generating services, and scale networks to meet increased traffic demands. Our solutions are also designed to enable network operators to gain valuable, real-time network insights, allowing them to optimize network performance and maximize the return on their network infrastructure investment. 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, increase transmission speeds, allocate traffic efficiently, and adapt dynamically to changing end-user service demands. Our Optical Networking portfolio includes products that support long haul and regional networks, submarine and data center interconnect networks, and metro and edg