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Remaining Performance Obligations
Indicates the value of contracted revenue yet to be recognized, providing a view of future revenue streams and business stability.Remaining performance obligations dropped after a 2022 peak but have rebounded strongly into 2026, signaling renewed order momentum and greater revenue visibility; this aligns with management’s $7.7B backlog and ~80% expected hardware conversion that underpin the raised FY26 guide. That said, persistent component shortages and customer concentration mean recognition could be lumpy — the recovery supports upside to revenue and margins if supply investments work, but watch FCF conversion and component supply (pump lasers/modems) as the gating factors for sustained delivery.
Date | Remaining Performance Obligations |
|---|---|
Mar 31, 2026 | $2.50B |
Dec 31, 2025 | $2.30B |
Sep 30, 2025 | $2.10B |
Jun 30, 2025 | $2.00B |
Mar 31, 2025 | $1.70B |
Dec 31, 2024 | $1.70B |
Sep 30, 2024 | $1.60B |
Jun 30, 2024 | $1.60B |
Mar 31, 2024 | $1.50B |
Dec 31, 2023 | $1.70B |