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SUBSEQUENT EVENTS | 9 Months Ended
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Aug. 02, 2025
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Stock Repurchase Program From the end of the third quarter of fiscal 2025 through August 29, 2025, Ciena repurchased 286,619 shares of its common stock for an aggregate purchase price of $26.4 million at an average price of $92.10 per share, inclusive of repurchases pending settlement under its current stock repurchase program. As of August 29, 2025, Ciena has an aggregate of $728.4 million of authorized funds remaining under this repurchase program. Reallocation of Innovation Investment and Fiscal 2025 Restructuring Plan On August 26, 2025, in order to align Ciena’s strategic investments with our highest-growth demand opportunities, its executive team determined to cease forward investment in certain broadband development initiatives, primarily 25G PON, within the routing and switching product line of the Network Platforms operating segment. Ciena intends to continue support and development of its 10G PON-based products. Ciena’s executive team also approved a restructuring plan intended to deliver increased operating efficiencies and, as a result, commencing during the fourth quarter of fiscal 2025, Ciena is implementing a workforce reduction of approximately 4% to 5% of its global headcount, which includes employees associated with the broadband development initiatives discussed above. The estimated cash cost related to these actions is approximately $20.0 million and represents employee severance and related costs. As such, we expect an expense of approximately $20.0 million to be incurred in the fourth quarter of fiscal 2025. In addition, Ciena anticipates that its decision to cease future investment in 25G PON will result in a non-cash charge in the fourth quarter of fiscal 2025 related to the abandonment of its in-process R&D intangible asset, which has a carrying value of $89.1 million as of August 2, 2025. During the fourth quarter of fiscal 2025, Ciena will also evaluate the impact of these actions on other assets including, but not limited to, inventory and fixed assets.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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