Coherent Targets $250M-Plus Quarterly PhotonLink Revenue Before 2027 Calendar Year-End

Coherent Corp. expects its PhotonLink platform to generate more than $250 million in quarterly revenue before calendar 2027 ends, as it targets a $3 billion revenue quarter by the end of fiscal 2027.

The company expects PhotonLink revenue to exceed $100 million in the March 2027 quarter. The $250 million target is for a quarter of platform revenue, not a full year.

Coherent also sees a path to a $4 billion quarterly revenue level in fiscal 2028. Those companywide revenue milestones are separate from the PhotonLink target, which applies to the platform’s own sales.

Coherent’s revenue increased 16% from the previous quarter and 56% from a year earlier in its first quarter of fiscal 2027, with the year-over-year comparison on a pro forma basis.

The company’s earlier plan called for PhotonLink revenue to begin ramping in the fourth quarter of calendar 2026. Coherent had also disclosed more than 10 customer engagements each for co-packaged optics and near-packaged optics in an earlier update on the platform and its customer pipeline.

Coherent expects gross margin above 45% before the end of calendar 2028.

The outlook uses both calendar-year and fiscal-year deadlines. PhotonLink’s March-quarter and $250 million targets, along with the gross-margin goal, use calendar timing; the $3 billion and $4 billion company revenue targets use fiscal years.