Coherent: AI Demand Is Outrunning Its Factories

Coherent's Q4 revenue reached a record $2.05 billion as Data Center revenue surged 66% and gross margin expanded to 40.2%. Fiscal 2027 is effectively sold out, while purchase orders extend into 2028 and LTAs reach through the decade. Six-inch InP delivers roughly four times the output at half the cost, creating simultaneous capacity and margin leverage.