Infinera had strong financial results, record revenue with webscalers, and pending merger with Nokia

From GlobeNewswire: 2025-02-27 19:30:44

Infinera Corporation reported strong financial results for the fourth quarter and fiscal year ended December 28, 2024. The company achieved year-over-year growth in bookings and backlog, with a book-to-bill ratio of approximately 1.1x for FY’24 and 1.3x for Q4’24. In addition, Infinera announced a definitive agreement to be acquired by Nokia, with the acquisition anticipated to be completed on or about February 28, 2025. The company’s GAAP revenue for the quarter was $414.4 million, with a GAAP net loss of $(26.3) million. Non-GAAP net income for the quarter was $8.2 million.

In terms of revenue, Infinera saw record revenue with webscalers, with total revenue exposure greater than 50% of FY’24 revenue. The company also secured significant design wins across the GX systems portfolio with webscalers and Tier 1 Communications Service Providers (CSPs). In addition, Infinera launched ICE-D to address the projected multi-billion dollar intra-data center opportunity driven by AI workloads. The company also secured CHIPS & Science Act funding with the potential for greater than $200 million in total federal incentives.

Looking ahead, Infinera CEO, David Heard, expressed excitement about the pending merger with Nokia, stating that the company is well-positioned for the next wave of optical spend fueled by bandwidth growth and AI-driven data-center builds. The merger is expected to bring greater scale and deeper resources to drive innovation in the optics industry. Infinera’s financial results and strategic wins in 2024 set the company up for success in 2025 and beyond.



Read more at GlobeNewswire: Infinera Corporation Fourth Quarter and Fiscal 2024