$COHR

COHERENT CORP.

CIK:0000820318|SEC Filings

Consolidated Statements of Earnings (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Income Statement [Abstract]
Revenues	$ 7,118,181	$ 5,810,115	$ 4,707,688
Costs, Expenses, and Other Expense (Income)
Cost of goods sold	4,449,141	3,766,793	3,251,724
Research and development	722,952	581,924	478,788
Selling, general and administrative	1,044,566	926,451	854,001
Restructuring charges (recoveries)	63,390	160,081	27,054
Impairment of assets held-for-sale	64,404	84,988	0
Gain on sale of business	(124,133)	0	0
Interest expense	190,267	243,251	288,475
Other expense (income), net	(140,139)	(47,554)	(44,707)
Total Costs, Expenses, & Other Expense	6,270,448	5,715,934	4,855,335
Earnings (Loss) Before Income Taxes	847,733	94,181	(147,647)
Income Tax Expense	60,849	64,124	11,117
Net Earnings (Loss)	786,884	30,057	(158,764)
Net Loss Attributable to Noncontrolling Interests	(18,114)	(19,307)	(2,610)
Net Earnings (Loss) Attributable to Coherent Corp.	804,998	49,364	(156,154)
Less: Dividends on Preferred Stock	35,102	129,926	123,357
Basic earnings (loss) available to common shareholders	$ 769,896	$ (80,562)	$ (279,511)
Basic Earnings (Loss) Per Share (in usd per share)	$ 4.34	$ (0.52)	$ (1.84)
Diluted Earnings (Loss) Per Share (in usd per share)	$ 4.12	$ (0.52)	$ (1.84)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Cash Flows from Operating Activities
Net earnings (loss)	$ 786,884	$ 30,057	$ (158,764)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation	241,561	250,810	271,601
Amortization	280,334	302,788	288,160
Share-based compensation expense	186,468	160,239	126,049
Non-cash restructuring and impairment charges	87,563	140,912	16,557
Amortization of debt issuance costs	17,560	19,774	17,652
Loss on disposals of property, plant & equipment	599	782	758
Unrealized losses (gains) on foreign currency remeasurements and transactions	(24,792)	33,122	(10,556)
Loss (earnings) from equity investments	(690)	(1,316)	51
Deferred income taxes	(198,732)	(95,434)	(112,096)
Gain on sale of business	(124,133)	0	0
Gain on sale of equity investment	(73,998)	0	0
Loss on debt extinguishment	3,056	0	1,978
Increase (decrease) in cash from changes in:
Accounts receivable	(367,631)	(170,444)	60,581
Inventories	(1,183,000)	(202,728)	(23,196)
Accounts payable	748,533	217,357	205,044
Contract liabilities	(9,307)	3,182	(72,818)
Income taxes	18,175	(22,118)	12,251
Accrued compensation and benefits	99,397	62,960	36,894
Other operating net assets (liabilities)	(408,333)	(96,343)	(114,415)
Net cash provided by operating activities	79,514	633,600	545,731
Cash Flows from Investing Activities
Additions to property, plant & equipment	(1,102,909)	(440,836)	(346,816)
Purchases of intangible assets	(7,174)	0	0
Proceeds from sale of equity investment	89,384	0	0
Proceeds from the sale of business, net of fees	436,992	27,000	0
Purchases of short-term investments	(1,025,000)	0	0
Proceeds from sales/maturities of short-term investments	200,000	0	0
Other investing activities	(5,017)	(379)	(3,897)
Net cash used in investing activities	(1,413,724)	(414,215)	(350,713)
Cash Flows from Financing Activities
Sale of shares to noncontrolling interests	0	0	1,000,000
Proceeds from borrowings of revolving credit facilities	640,075	53,729	18,966
Proceeds from borrowings of other credit facilities	28,004	0	0
Proceeds from issuance of common shares	1,998,552	0	0
Payments on existing debt	(1,723,437)	(436,986)	(228,802)
Payments on borrowings under revolving credit facilities	(676,211)	(51,661)	(19,027)
Debt issuance costs	(9,101)	0	0
Equity issuance costs	0	0	(31,840)
Proceeds from exercises of stock options and purchases of stock under employee stock purchase plan	53,814	49,570	42,297
Payments in satisfaction of employees’ minimum tax obligations	(77,419)	(53,992)	(22,315)
Cash dividends paid	(11,438)	(11,438)	0
Other financing activities	970	(948)	(1,007)
Net cash provided by (used in) financing activities	1,477,076	(451,726)	758,272
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(7,383)	75,568	(1,170)
Net increase (decrease) in cash, cash equivalents, and restricted cash	135,483	(156,773)	952,120
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	1,632,913	1,789,686	837,566
Cash, Cash Equivalents, and Restricted Cash at End of Period	1,768,396	1,632,913	1,789,686
Supplemental Information
Cash paid for interest	189,256	256,704	312,879
Cash paid for income taxes	208,129	166,849	97,295
Non-Cash Investing and Financing Activities:
Additions to property, plant & equipment included in accounts payable	371,779	67,146	63,286
Conversion of Series A and B preferred stock to common stock	2,506,885	0	445,319
Reconciliation of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
Cash and cash equivalents	1,162,018	909,200
Restricted cash, current	35,156	8,897
Restricted cash, non-current	571,222	714,816
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	1,768,396	1,632,913	1,789,686
Term A Loan
Cash Flows from Financing Activities
Proceeds from borrowing of credit facility	1,250,000	0	0
Term B Loan
Cash Flows from Financing Activities
Proceeds from borrowing of credit facility	$ 3,267	$ 0	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current Assets
Cash and cash equivalents	$ 1,162,018	$ 909,200
Restricted cash, current	35,156	8,897
Short-term investments	825,000	0
Accounts receivable - less allowance for doubtful accounts	1,343,278	964,051
Inventories	2,581,043	1,437,636
Prepaid and refundable income taxes	78,892	55,773
Prepaid and other current assets	900,112	551,597
Total Current Assets	6,925,499	3,927,154
Property, plant & equipment, net	2,999,343	1,877,507
Goodwill	4,375,597	4,471,084
Other intangible assets, net	2,884,474	3,204,747
Deferred income taxes	69,434	53,407
Restricted cash, non-current	571,222	714,816
Other assets	474,283	662,221
Total Assets	18,299,852	14,910,936
Current Liabilities
Current portion of long-term debt	7,916	188,306
Accounts payable	1,905,357	846,984
Accrued compensation and benefits	358,047	258,650
Operating lease current liabilities	61,371	41,575
Accrued income taxes payable	173,248	123,762
Other accrued liabilities	347,990	335,564
Total Current Liabilities	2,853,929	1,794,841
Long-term debt	3,214,308	3,498,615
Deferred income taxes	540,610	711,717
Operating lease liabilities	254,839	165,162
Other liabilities	197,966	259,318
Total Liabilities	7,061,652	6,429,653
Mezzanine Equity
Series B redeemable convertible preferred stock, no par value, 5% cumulative; authorized -	0	2,483,261
Shareholders' Equity
Common stock, no par value; authorized - 300,000,000 shares;	9,790,596	5,056,168
Accumulated other comprehensive income (AOCI)	204,112	372,037
Retained earnings	1,354,270	584,374
Total Shareholders' Equity	11,348,978	6,012,579
Treasury stock, at cost;	(445,483)	(368,065)
Total Coherent Corp. Shareholders' Equity	10,903,495	5,644,514
Noncontrolling interests (NCI)	334,705	353,508
Total Equity	11,238,200	5,998,022
Total Liabilities, Mezzanine Equity and Shareholders' Equity	$ 18,299,852	$ 14,910,936