COHRBig quarter, bigger numbers
Coherent Corp. kicked out its fiscal fourth-quarter and full-year 2026 results on August 12th, 2026, and the headline was simple: business got a lot healthier. Revenue climbed to $2.05 billion, up 34% year over year and 42% on a pro forma basis, which is not exactly the kind of growth you bury in the footnotes.
Margins did the heavy lifting
The more interesting part for investors may be the profitability boost. GAAP gross margin reached 38.5%, while non-GAAP gross margin landed at 40.2%. That’s a meaningful step up from last year, which usually tells you the company is getting more efficient, mixing in better products, or both. In other words: less running on a treadmill, more actually going somewhere.
Earnings got a serious glow-up
EPS also moved in the right direction in a big way. GAAP EPS came in at $1.19, up $2.02 from a year ago, while non-GAAP EPS hit $1.74, up $0.74 year over year. That kind of jump tends to make investors look past the “photonic components” label and focus on the more important question: can this momentum stick?
Why you should care
Coherent sits in the kind of tech pocket where demand can swing with data centers, industrial spending, and broader optics/adoption trends. A clean beat with stronger margins can help reset expectations, especially if the market had been treating the stock like a sleepy manufacturing story instead of a growth-and-profitability one.
Big picture: this was the sort of earnings print that makes a company look less like a cyclical side quest and more like a real operator.