10-K – 2025-08-19 – lite-20250628.htm

2. Financial Statement Schedules
The following additional financial statement schedules should be considered in conjunction with our consolidated financial statements. All other financial statement schedules have been omitted because the required information is not present in amounts sufficient to require submission of the schedule, not applicable, or because the required information is included in the consolidated financial statements or notes thereto.
LUMENTUM HOLDINGS INC.
FINANCIAL STATEMENT SCHEDULES
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

(in millions)
Balance at beginning of period   Increase (decrease) in Consolidated Statements of Operations   Write-offs and other adjustments   Balance at end of period
Allowance for credit losses:
Fiscal year ended June 28, 2025 $ 0.2   $ 3.4   $ ( 0.1 ) $ 3.5  
Fiscal year ended June 29, 2024 $ —   $ 0.2   $ —   $ 0.2  
Fiscal year ended July 1, 2023 $ —   $ —   $ —   $ —  

(in millions)
Balance at beginning of period Additions charged to costs/expenses (1)
Deductions credited to costs/expenses (2)
Balance at end of period
Deferred tax valuation allowance:
Fiscal year ended June 28, 2025 $ 490.4   $ 128.6   $ ( 178.2 ) $ 440.8  
Fiscal year ended June 29, 2024 $ 303.4   $ 205.4   $ ( 18.4 ) $ 490.4  
Fiscal year ended July 1, 2023 $ 263.1   $ 42.7   $ ( 2.4 ) $ 303.4  

(1) Additions include current year additions charged to expenses and current year build due to increases in net deferred tax assets, return to provision true-ups, other adjustments to deferred taxes.
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(2) Net deductions include current year releases credited to expenses and current year reductions due to decreases in net deferred tax assets, return to provision true-ups, other adjustments to deferred taxes.
3. Exhibits
The following exhibits are filed herewith or are incorporated by reference to exhibits previously filed with the Securities and Exchange Commission.

    Incorporated by Reference Filed
Exhibit No. Exhibit Description Form Exhibit Filing Date Herewith
2.1 Contribution Agreement
8-K 2.1 8/6/2015
2.2 Separation and Distribution Agreement
8-K 2.2 8/6/2015
2.3 Agreement and Plan of Merger, dated as of October 29, 2023, by and among Lumentum Holdings Inc., Cloud Light, and Crius Merger Sub, Inc.
8-K 2.1 10/30/2023
3.1 Amended and Restated Certificate of Incorporation
8-K 3.1 8/6/2015
3.2 Amended and Restated Bylaws
8-K 3.2 8/6/2015  

4.1 Description of Capital Stock
10-K 4.4 8/27/2019
4.2 Indenture, dated December 12, 2019, between Lumentum Holdings Inc. and U.S. Bank National Association.
8-K 4.1 12/12/2019
4.3 Form of 0.50% Convertible Senior Note due 2026 (included in Exhibit 4.2).
8-K 4.2 12/12/2019
4.4 First Supplemental Indenture, dated as of September 25, 2024, to the Indenture, dated December 12, 2019, by and between Lumentum Holdings Inc. and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association)
10-Q 4.1 11/8/2024
4.5 Indenture dated March 8, 2022, between Lumentum Holdings Inc. and U.S. Bank Trust Company, National Association
8-K 4.1 3/8/2022
4.6 Form of 0.50% Convertible Senior Note due 2028 (included in Exhibit 4.4)
8-K 4.2 3/8/2022
4.7 Indenture, dated June 16, 2023, between Lumentum Holdings Inc. and U.S. Bank Trust Company, National Association.
8-K 4.1 6/16/2023
4.8 Form of 1.50% Convertible Senior Note due 2029 (included in Exhibit 4.6).
8-K 4.2 6/16/2023
10.1 Tax Matters Agreement
8-K 10.1 8/6/2015
10.2* Employee Matters Agreement
8-K 10.2 8/6/2015
10.3 Intellectual Property Matters Agreement
8-K 10.3 8/6/2015
10.4* 2015 Equity Incentive Plan as amended and Restated N ovember 20, 2024
8-K 10.1 11/22/2024
10.5* 2015 Employee Stock Purchase Plan
S-8 99.2 7/29/2015
10.6* Executive Officer Performance-Based Incentive Plan
8-K 10.3 11/9/2016
10.7* Amended and Restated Change in Control and Severance Benefits Plan, effective August 22, 2023
10-Q 10.1 11/8/2023

10.8* Form of Indemnification Agreement
10-K 10.8 9/25/2015

10.09* Offer Letter, by and between the Registrant and Wajid Ali, dated as of January 11, 2019
10-Q 10.1 5/7/2019

10.10* Offer Letter entered into by Lumentum Holdings Inc. with Michael Hurlston, dated January 28, 2025
8-K 10.1 2/3/2025
10.11* Transition Agreement entered into by Lumentum Holdings Inc. with Alan Lowe, dated February 2, 2025
8-K 10.2 2/3/2025
10.12* Global Performance Unit Award Agreement
10-Q 10.1 5/9/2023
10.13* Global Restricted Stock Unit Award Agreement
10-Q 10.2 5/9/2023

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10.14* 2025 Inducement Equity Incentive Plan
S-8 4.3 2/6/2025
10.15* Form of Restricted Stock Unit Agreement under 2025 Inducement Equity Incentive Plan
S-8 4.4 2/6/2025
10.16* Form of Performance Stock Unit Agreement under 2025 Inducement Equity Incentive Plan
S-8 4.5 2/6/2025
19.1 Lumentum Holdings Inc. Insider Trading Policy
10-K 19.1 8/21/2024
21.1 Subsidiaries of Lumentum Holdings Inc.
X
23.1 Consent of Independent Registered Public Accounting Firm (Deloitte & Touche LLP)
X
31.1 Certification of the Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
    X
31.2 Certification of the Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
      X
32.1† Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
      X
32.2† Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
      X
97.1 Compensation Recovery Policy
X
101 The following financial information from Lumentum Holdings Inc.’s Annual Report on Form 10-K for the fiscal year ended June 28, 2025 formatted in Inline XBRL (eXtensible Business Reporting Language): (i) Consolidated Statements of Operations for the fiscal years ended June 28, 2025, June 29, 2024 and July 1, 2023; (ii) Consolidated Statements of Comprehensive Income for the fiscal years ended June 28, 2025, June 29, 2024 and July 1, 2023; (iii) Consolidated Balance Sheets as of June 28, 2025 and June 29, 2024; (iv) Consolidated Statements of Cash Flows for the fiscal years ended June 28, 2025, June 29, 2024 and July 1, 2023 ; (v) Consolidated Statements of Stockholders’ Equity for the fiscal years ended June 28, 2025, June 29, 2024 and July 1, 2023; and (vi) Notes to the Consolidated Financial Statements       X
104 The cover page from Lumentum Holdings Inc.’s Annual Report on Form 10-K for the fiscal year ended June 28, 2025, formatted in Inline XBRL (included as Exhibit 101).       X

* Indicates management contract or compensatory plan or arrangement.
† The certifications furnished in Exhibits 32.1 and 32.2 that accompany this Annual Report on Form 10-K, are not deemed filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Annual Report on Form 10-K, irrespective of any general incorporation language contained in such filing.
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ITEM 16.    FORM 10-K SUMMARY.
None.
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SIGNATURES
 Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 19, 2025 LUMENTUM HOLDINGS INC.
   
By: /s/ WAJID ALI
By: Wajid Ali
  Executive Vice President and Chief Financial Officer
(Principal Financial Officer)

POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Wajid Ali and Jae Kim, and each of them individually, as his or her attorney-in-fact, each with full power of substitution, for him or her in any and all capacities to sign any and all amendments to this Annual Report on Form 10-K, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorney-in-fact, or his or her substitute, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Exchange Act of 1934, this Annual Report on Form 10-K has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
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 Signature Title Date

/s/ MICHAEL HURLSTON President, Chief Executive Officer and Director (principal executive officer) August 19, 2025
Michael Hurlston

/s/ WAJID ALI Executive Vice President, Chief Financial Officer (principal financial officer) August 19, 2025
Wajid Ali

/s/ MATTHEW SEPE Chief Accounting Officer (principal accounting officer) August 19, 2025
Matthew Sepe

/s/ PAUL LUNDSTROM Director August 19, 2025
Paul Lundstrom

/s/ JULIE JOHNSON Director August 19, 2025
Julie Johnson

/s/ PENELOPE HERSCHER Director August 19, 2025
Penelope Herscher

/s/ HAROLD COVERT Director August 19, 2025
Harold Covert

/s/ BRIAN LILLIE Director August 19, 2025
Brian Lillie

/s/ IAN SMALL Director August 19, 2025
Ian Small

/s/ ISAAC HARRIS Director August 19, 2025
Isaac Harris

/s/ PAMELA FLETCHER Director August 19, 2025
Pamela Fletcher

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