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Ciena Announces Fiscal Year 2029 Financial Targets
FULTON, Md., September 16, 2026–(BUSINESS WIRE)–Ciena® Corporation (NYSE: CIEN), the global leader in high-speed connectivity, held its Investor Forum today at its R&D facility in Ottawa, Ontario, Canada and announced its three-year financial targets. These targets are set forth below.
Ciena’s three-year financial targets for fiscal year 2029 include:
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Revenue CAGR of approximately 30% from 2026 through 2029;
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Adjusted (non-GAAP) gross margin of approximately 50%;
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Adjusted (non-GAAP) operating margin in the range of 32% to 35%; and
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Free cash flow margins of approximately 20%.
“The three-year financial targets announced today reflect both the opportunities we see ahead and our confidence in our ability to execute,” said Marc Graff, Ciena’s Chief Financial Officer. “Backed by a differentiated portfolio, growing customer demand, expanding supply capacity, and new addressable market opportunities, we are well-positioned to deliver sustained revenue growth, significant profitability expansion, and attractive returns for our owners over the coming years.”
Ciena also announced a change to financial reporting segments beginning with fiscal 2027 to be reflected in Q1 fiscal 2027 results. Graff continued, “Our new reporting segments – Optical Systems, Interconnects, Global Services, and Routing and Other – will align well with our growth markets and allow our owners improved insight into our financial performance.”
Ciena is hosting an investor forum Wednesday, September 16 and Thursday, September 17, 2026, during which executives will discuss Ciena’s strategic priorities and portfolio roadmap that underwrite its financial objectives. The content of Mr. Graff’s and Mr. Rothenstein’s presentations, which include information about Ciena’s recent financial performance, one-and three-year financial targets, addressable market sizing, and future financial reporting segments to align with these opportunities has been made available in the Events & Presentations section of the Investor Relations section of Ciena’s website. Information related to other presentations from the Investor Forum 2026 will be posted on or about Thursday, September 17, 2026.
Ciena is the global leader in high-speed connectivity. We build the world’s most advanced networks to support exponential growth in bandwidth demand. By harnessing the power of our networking systems, interconnects, automation software, and services, Ciena revolutionizes data transmission and network management. With unparalleled expertise and innovation, we empower our customers, partners, and communities to thrive in the AI era. For updates on Ciena, follow us on LinkedIn or visit the Ciena website.
