Coherent Corp.
COHRQ3 2025(COHR Q4 FY2025)Derived24% AI
AI Revenue %
24%
AI Fair Value
$9.0B
AI Revenue (Q)
$404.6M
Total Revenue (Q)
$1.7B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q4 FY2025 (Jun 30, 2025). Full-year FY2025 revenue ~$5,778M (from 10-K). Full-year Networking revenue ~$3,172M (implied from 9-month $2,476M + Q4 implied ~$696M). Actually, FY2025 annual data shows total revenue was strong. From the FY2026 Q1 filing, Datacenter & Communications for Q1 FY2026 was $1,090M (vs $864M recast Q1 FY2025), showing continued AI-driven growth. For Q4 FY2025: Networking was approximately $696M (implied from annual minus 9-month). Pre-AI baseline ~$475M. Incremental ~$221M from AI. However, Q4 may have had some seasonal moderation. Total FY2025 implied Q4 revenue ~$1,497M (annual ~$5,778M minus 9-month $4,281M). Conservative AI estimate: ~$360M / ~$1,497M = ~24%. The FY2025 10-K explicitly credits AI datacenter buildout for the Networking surge.
Analyzed by claude-opus-4-6
Quoted Figures
Throughout fiscal 2025, we experienced stronger demand in our Communications market. The increase in the number of hyperscale and other cloud customers building AI datacenters and in the number and size of their AI datacenter buildouts drove demand for our datacenter transceivers.
10-K FY2025, Item 7 MD&A
Effective July 1, 2025 for our fiscal year 2026, the Company realigned its organizational structure into two reporting segments: (i) Datacenter and Communications, and (ii) Industrial.
10-K FY2025, Item 1
AI Products Identified (Ring 1)
800G/1.6T datacenter optical transceiversInP laser chips for AI interconnectsZR/ZR+ coherent transceiversAI GPU cluster optical interconnects
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
SiC substrates for AI data center powerEUV laser components for AI chip manufacturing
Confidence Tier
DerivedCalculated from reported segments primarily serving AI