Ciena announced three-year financial targets at its Investor Forum in Ottawa, Ontario, Canada, projecting a revenue CAGR of approximately 30% from 2026 through 2029, adjusted non-GAAP gross margin of approximately 50%, adjusted non-GAAP operating margin of 32% to 35%, and free cash flow margins of approximately 20%. Chief Financial Officer Marc Graff said the targets reflect both the opportunities ahead and the company's confidence in its ability to execute, citing a differentiated portfolio, growing customer demand, expanding supply capacity, and new addressable market opportunities. Ciena also announced a change to its financial reporting segments beginning with fiscal 2027, to be reflected in Q1 fiscal 2027 results, with the new segments being Optical Systems, Interconnects, Global Services, and Routing and Other. The company is hosting its investor forum on Wednesday, September 16 and Thursday, September 17, 2026, with presentation content available in the Events & Presentations section of Ciena's Investor Relations website.
Ciena CorpCiena set three-year targets including ~30% revenue CAGR, ~50% gross margin, 32-35% operating margin, and ~20% FCF margin, plus new reporting segments.
