He highlighted the company’s manufacturing ramp, stating that since fiscal 2023 Lumentum has increased EML (electro-absorption modulated laser) output by 8x. Looking forward, he said the company plans to raise indium phosphide output by another 50% from the last quarter of calendar 2025 through the last quarter of calendar 2026. Even with these increases, he said demand is outpacing supply and that Lumentum is currently “under shipping the market” by about 25% to 30%, with the gap expected to grow due to de ...