Ciena

Annual Report 2024

Patrick T. Gallagher
Chairperson
Harmonic, Inc.
Devinder Kumar
Former Senior Vice President, 
Chief Financial Officer, Treasurer 
Advanced Micro Devices, Inc
Patrick H. Nettles, Ph.D.
Executive Chairperson
of the Board of Directors
T. Michael Nevens
Senior Adviser
Permira Advisers, LLC
Joanne B. Olsen
Former Executive Vice President 
Global Cloud Services and Support 
Oracle Corporation
Mary Puma
Former President and 
Chief Executive Officer 
Axcelis Technologies, Inc.
Ciena Leadership
Executive Officers
Gary B. Smith
President, Chief Executive Officer 
and Director
James E. Moylan, Jr.
Senior Vice President and 
Chief Financial Officer
Scott A. McFeely
Executive Advisor
Jason M. Phipps
Senior Vice President,
Global Customer Engagement
David M. Rothenstein
Senior Vice President,
Chief Strategy Officer and
Corporate Secretary
Rebecca Smith
Senior Vice President, 
Global Marketing 
and Communications
Joseph R. Cumello
Senior Vice President and 
General Manager of Blue Planet
Dino DiPerna
Senior Vice President, 
Global Research and Development
Brodie Gage
Senior Vice President,
Global Products and Supply Chain
Sheela Kosaraju
Senior Vice President
and General Counsel, 
Interim Chief People Officer
Directors
Lawton W. Fitt
Independent Chairperson 
of the Board of Directors (Ciena)
The Progressive Corporation
Hassan M. Ahmed, Ph.D.
Former Chairman of the Board 
and Chief Executive Officer 
Affirmed Networks
Bruce L. Claflin
Former Chief Executive Officer 
3Com Corporation

Gary B. Smith, President and Chief Executive Officer
1
need the control and visibility it delivers across all 
layers of their networks. Blue Planet, our intelligent 
automation software division, achieved record 
revenue of $78 million, an annual increase of 12%. 
Our balance sheet also remains a significant 
differentiator. We ended the year with $1.3 billion in 
cash and investments and generated nearly $380 
million in free cash flow. We repurchased $250 million 
in shares during the fiscal year, completing a $1 billion 
share repurchase program that began in fiscal 2022. 
Underscoring our confidence in the future, our Board 
of Directors authorized a new program to repurchase 
up to an additional $1 billion in our shares over a three-
year period commencing in fiscal 2025.
Amidst a rapidly evolving industry, we 
delivered a solid performance in fiscal 2024 
and remain a market leader with strong 
momentum. Our focus on helping customers 
address rapidly increasing bandwidth 
demands driven by cloud and Artificial 
Intelligence (AI) with our industry-leading 
portfolio is driving market share gains and 
positions us for accelerated growth in the 
coming years.  
Fiscal 2024 Financial Highlights 
In 2024, we delivered more than $4 billion in  
revenue, and our orders grew more than 20% 
year-over-year, demonstrating the demand for 
our technology and reflecting the strength of our 
customer relationships.
As our Cloud Provider customers invest in their 
networks to support the growth of AI, they are 
comprising an increasing proportion of our revenue. 
In fact, we delivered record revenue to Cloud 
Providers, with this key customer segment directly 
contributing $1.2 billion and 30% of total revenue.  
We also saw continued improvement in the 
purchasing patterns of Service Providers, particularly 
in North America, as they work through inventory 
built up from prior periods and play an increasing 
role in cloud trends through Managed Optical Fiber 
Network (MOFN) opportunities.
As network operators address growing network 
demands, our software and services offerings 
are well-positioned to meet their automation and 
digital transformation needs. Platform Software and 
Services revenue was up 18%, while Global Services 
revenue increased 3% over last year. Our domain 
controller software, Navigator Network Control Suite, 
continues to resonate strongly with customers who 
To our shareholders

2
Technology Market Leadership 
In 2024, we extended our innovation leadership with 
significant product development achievements for our 
Optical Networking solutions, reinforcing our market 
leadership. We delivered WaveLogic 6, the world’s 
first coherent DSP to be built on a 3 nanometer CMOS 
process, setting a new standard in optical networking. 
In doing so, we locked in our position as the only 
provider of 1.6T-capable coherent modems in the 
market today.
At the same time, our WaveLogic 5 Extreme (WL5e) 
technology continues to be widely adopted by our 
customer base. By year-end, we had shipped more 
than 150,000 WL5e modems, providing customers a 
solution that delivers meaningful reductions in power 
and space in their networks. 
We exited the year with solid momentum behind 
our pluggables portfolio, having shipped more than 
43,000 WaveLogic 5 Nano (WL5n) pluggables. In 
2024, we also won the first award from any major 
Cloud Provider for an 800G ZR plug. And, we continue 
to innovate to expand our market opportunity with 
pluggables. We announced our WL6n 1.6T Coherent-
Lite pluggable, which is designed to optimize 
performance and efficiency of data center and 
campus networks as they scale to support cloud and 
AI traffic. 
In Routing and Switching, we gained more than 125 
new customers for our advanced IP Routing solutions, 
demonstrating the strength and innovation in this 
portfolio. Importantly, we announced a Tier 1 Service 
Provider customer for WaveRouter and added two 
new solutions to the WaveRouter family that deliver 
expanded flexibility and scale for customers.
As Service Providers evolve their businesses, they 
seek to accelerate the automation and optimization 
of their network and service lifecycle operations. Blue 
Planet and Navigator fulfill these needs with advanced 
solutions that enable this operational transformation. 
While these elements are not new to our business, 
1 A reconciliation of these non-GAAP measures to our GAAP results is included in the press release for the relative period.
Revenue
(in billions)
Adjusted Gross Profit1
(in billions)
Adjusted Operating Profit1
(in millions)
Adjusted EPS1
‘20
‘21
‘22
‘23
‘24
$3.53
$3.62
$3.63
$4.39
$4.01
‘20
‘21
‘22
‘23
‘24
$1.68
$1.74
$1.58
$1.91
$1.75
‘20
‘21
‘22
‘23
‘24
$2.95
$2.91
$1.90
$2.72
$1.82
‘20
‘21
‘22
‘23
‘24
$620
$607
$407
$573
$388

3
they deliver a strong and differentiated value 
proposition to address the transformation challenges 
our customers face.
Intersecting Opportunity 
Across the broader market landscape, bandwidth 
remains the most consistent driver for our business, 
growing approximately 30% per year. With cloud and 
AI now the leading drivers of demand, we believe 
bandwidth growth will rise above these historical 
levels over the coming years. AI traffic is already 
flowing out of the data center and impacting all parts 
of the network, and we see evidence of this in our 
business today, based on the needs of our Cloud and 
Service Provider customers alike. 
Our strategy to take full advantage of this growth of 
cloud and AI traffic across multiple network segments 
is rooted in our high-speed optical technology 
leadership. More specifically, we aim to grow our core 
business while expanding our addressable market, 
leveraging the significant competitive advantage of 
our leading optical technology. 
This includes driving continued market share gain in 
subsea, long-haul, metro, DCI and MOFN opportunities 
with our optical systems. Additionally, we seek to 
expand our addressable market to include a large    
and growing opportunity to sell coherent technology 
to Cloud Providers around the data center, including 
for metro data center campus opportunities in the 2km 
to 20km range. We are pursuing these applications 
through our Interconnects portfolio, which includes 
key infrastructure technologies like pluggables 
and components, that provide critical connectivity 
between and within data centers. 
Leveraging our optical expertise, we also anticipate 
growing opportunities in metro routing and broadband 
access. In the metro, IP and optical convergence will 
become essential for Service Providers to achieve 
greater scale and cost efficiencies. Our Coherent 
Routing solution is ideally suited to address these needs. 
In broadband access, public funding is being allocated 
to enhance connectivity in unserved and underserved 
communities. As deployments begin to materialize in 
the next few years, solutions like our Passive Optical 
Network (PON) technologies and industry-first 
pluggable Optical Line Terminals (OLT) will provide 
customers more deployment flexibility and scale.
In Software and Services, we are well-positioned 
to help our customers modernize their operational 
environments with Blue Planet, Navigator and our 
advanced services capabilities. Accordingly, we will 
continue to invest in these industry-leading portfolios.
Our Commitment to Stakeholders 
During the last year, we furthered our sustainability 
efforts with approval by the Science Based Targets 
initiative of two new greenhouse gas reduction goals 
that align with the latest climate science and recognize 
our operational footprint and emissions from the 
production, distribution and use of our products in 
networks. Specifically, by 2030, we aim to reduce 
our Scope 1 and 2 emissions by 81% and reduce our 
Scope 3 emissions per unit of capacity shipped in 
Gigabits per second by 71%, all from 2019 levels. 
We firmly believe that Ciena’s success is rooted in our 
people. Our employee engagement scores remain 
above the industry benchmark, and more than 90% of 
our team express satisfaction with the flexible working 
philosophy we have implemented. We are proud of the 
corporate culture we’ve built and the dedication of our 
people to giving back to our communities through our 
Ciena Cares volunteering and giving program. In 2024, 
our employees volunteered more than 37,000 hours 
and donated nearly $4 million through individual giving 
and corporate matching to non-profit organizations 
and charities across the globe.
Into the Future with Optimism 
Ciena’s role in supporting our customers has never 
been more profound. The cloud and AI-driven 
economy is escalating customers’ need for advanced 
networks, and our portfolio delivers innovation that 
powers their businesses. We will work every day to 
maintain a leadership position in our industry and 
deliver profitable growth and improved operating 
leverage over the next few years.
Our team is exceptional, and I thank everyone at Ciena 
for their commitment and dedication. I want to also 
thank our valued stakeholders for your continued trust 
and support. 
Gary B. Smith
President and Chief Executive Officer

 
[THIS PAGE INTENTIONALLY LEFT BLANK] 

UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549 
FORM 10-K 
(Mark One) 
Í ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES 
EXCHANGE ACT OF 1934 
For the fiscal year ended November 2, 2024 
OR 
‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES 
EXCHANGE ACT OF 1934 
For the transition period from 
 to 
 
Commission file number 001-36250 
Ciena Corporation 
(Exact name of registrant as specified in its charter) 
Delaware 
23-2725311 
(State or other jurisdiction of 
incorporation or organization) 
(I.R.S. Employer 
Identification No.) 
7035 Ridge Road, Hanover, MD 
21076 
(Address of principal executive offices) 
(Zip Code) 
Registrant’s telephone number, including area code: (410) 694-5700  
Securities registered pursuant to Section 12(b) of the Act: 
Title of each class 
Trading 
Symbol(s) 
Name of each exchange 
on which registered 
Common Stock, $0.01 par value 
CIEN 
New York Stock Exchange 
Securities registered pursuant to Section 12(g) of the Act: None 
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. 
Yes Í
No ‘ 
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. 
Yes ‘
No Í 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities 
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), 
and (2) has been subject to such filing requirements for the past 90 days. Yes Í
No ‘ 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 
pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that 
the registrant was required to submit such files). Yes Í
No ‘ 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller 
reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller 
reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 
Large accelerated filer 
Í 
Accelerated filer 
‘ 
Non-accelerated filer 
‘ 
Smaller reporting company ‘ 
 
 
 
 
 
 
Emerging growth company ‘ 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for 
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ‘ 
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness 
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered 
public accounting firm that prepared or issued its audit report. ‘ 
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the 
registrant included in the filing reflect the correction of an error to previously issued financial statements. ‘ 
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based 
compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ‘ 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act) Yes ‘
No Í 
The aggregate market value of the registrant’s Common Stock held by non-affiliates of the registrant as of April 26, 2024, the last 
business day of the registrant’s most recently completed second fiscal quarter, was approximately $6.7 billion based on the closing 
price of the Common Stock on the New York Stock Exchange on that date. 
The number of shares of the registrant’s Common Stock outstanding as of December 13, 2024 was 142,115,595. 
DOCUMENTS INCORPORATED BY REFERENCE 
Part III of the Form 10-K incorporates by reference certain portions of the registrant’s definitive proxy statement for its 2025 Annual 
Meeting of Stockholders, which is expected to be filed with the Commission not later than 120 days after the end of the fiscal year 
covered by this annual report. 

CIENA CORPORATION 
ANNUAL REPORT ON FORM 10-K 
FOR FISCAL YEAR ENDED NOVEMBER 2, 2024 
TABLE OF CONTENTS 
 
Page 
PART I 
 
Item 1. Business 
6 
Item 1A. Risk Factors 
26 
Item 1B. Unresolved Staff Comments 
50 
Item 1C. Cybersecurity 
50 
Item 2. Properties 
53 
Item 3. Legal Proceedings 
53 
Item 4. Mine Safety Disclosures 
53 
PART II 
 
Item 5. Market for Registrant’s Common Stock, Related Stockholder Matters and Issuer Purchases of 
Equity Securities 
54 
Item 6. [Reserved] 
55 
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 
55 
Item 7A. Quantitative and Qualitative Disclosures about Market Risk 
73 
Item 8. Financial Statements and Supplementary Data 
75 
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 
128 
Item 9A. Controls and Procedures 
128 
Item 9B. Other Information 
129 
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 
130 
PART III 
 
Item 10. Directors, Executive Officers and Corporate Governance 
130 
Item 11. Executive Compensation 
130 
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder 
Matters 
130 
Item 13. Certain Relationships and Related Transactions, and Director Independence 
131 
Item 14. Principal Accountant Fees and Services 
131 
PART IV 
 
Item 15. Exhibits and Financial Statement Schedules 
131 
Item 16. Form 10-K Summary 
131 
Signatures 
132 
2 

PART I 
Cautionary Note Regarding Forward-Looking Statements 
This annual report contains statements that discuss future events or expectations, projections of results of 
operations or financial condition, changes in the markets for our products and services, trends in our business, 
business prospects and strategies, and other “forward-looking” information. In some cases, you can identify 
“forward-looking statements” by words like “may,” “will,” “would,” “can,” “should,” “could,” “expects,” 
“future,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “potential,” “projects,” 
“targets,” or “continue” or the negative of those words and other comparable words. These statements may 
relate to, among other things: our competitive landscape; market conditions and growth opportunities; factors 
impacting our industry and markets, including macroeconomic conditions and global supply chain constraints; 
factors impacting the businesses of network operators, their network architectures and their adoption of next-
generation network infrastructures; our strategy, including our research and development, supply chain and 
go-to-market initiatives and our efforts to increase the reach of our business into new or growing product, 
customer and geographic markets; our order volumes, backlog and seasonality in our business; expectations for 
our financial results, revenue, gross margin, operating expense and key operating measures in future periods; 
the adequacy of our sources of liquidity to satisfy our working capital needs, capital expenditures and other 
liquidity requirements; cybersecurity events; business initiatives including information technology (“IT”) and 
environmental, social and governance (“ESG”) initiatives; the impact of changes in tax law and our effective tax 
rates; and market risks associated with financial instruments and foreign currency exchange rates. These 
statements are subject to known and unknown risks, uncertainties and other factors, and actual events or results 
may differ materially from any future results, activity, performance, or achievements expressed or implied by 
these forward-looking statements, including due to factors such as those set forth below in “Risk Factors 
Summary.” 
For a discussion of additional important factors that could cause actual results to vary materially from 
those anticipated in the forward-looking statements, see “Management’s Discussion and Analysis of Financial 
Condition and Results of Operations” and “Risk Factors” in this annual report. We operate in a very 
competitive and dynamic environment and new risks and uncertainties emerge, are identified or become 
apparent from time to time, and therefore may not be identified in this annual report. We cannot predict all risks 
and uncertainties that could have an impact on the forward-looking statements contained in this annual report. 
You should be aware that the forward-looking statements contained in this annual report are based on our 
current views and assumptions. We undertake no obligation to revise or update any forward-looking statements 
made in this annual report to reflect events or circumstances after the date hereof or to reflect new information 
or the occurrence of unanticipated events, except as required by law. The forward-looking statements in this 
annual report are intended to be subject to protection afforded by the safe harbor for forward-looking statements 
contained in the Private Securities Litigation Reform Act of 1995. Unless the context requires otherwise, 
references in this annual report to “Ciena,” the “Company,” “we,” “us” and “our” refer to Ciena Corporation. 
Risk Factors Summary 
Investing in our securities involves a high degree of risk. The following is a summary of the principal 
factors that make an investment in our securities speculative or risky, as more fully described below in the 
section titled “Risk Factors.” This summary should be read in conjunction with the “Risk Factors” section and 
should not be relied upon as an exhaustive summary of the material risks facing our business. In addition to this 
summary, you should consider the information set forth in the “Risk Factors” section and the other information 
contained in this annual report before investing in our securities. 
Risks Related to Our Business and Industry 
•
Our revenue, gross margin, and operating results can fluctuate significantly from quarter to quarter and, 
if we are not able to secure order growth, our revenue may not reach the levels we anticipate. 
3 

•
A small number of customers account for a significant portion of our revenue. The loss of one or more 
of these customers, or a significant reduction in their spending, could have a material adverse effect on 
our business and results of operations. 
•
We face intense competition that could impact our sales and results of operations. We expect our 
competitive landscape to continue to broaden as we seek to expand our addressable market and 
solutions portfolio. 
•
Our failure to invest in the right technologies or to get an adequate return on such research and 
development investment could adversely affect our revenue and profitability. 
•
We have no guaranteed purchases and regularly must re-win business with existing customers. 
•
Network equipment sales often involve lengthy sales cycles and protracted contract negotiations that 
may require us to agree to commercial terms or conditions that negatively affect pricing, risk 
allocation, payment and the timing of revenue recognition. 
•
Accurately matching necessary inventory levels to customer demand within the current environment is 
challenging, and we may incur additional costs or be required to write off significant inventory that 
would adversely impact our results of operations. 
•
If we are unable to adapt our business and solutions offerings to the evolving consumption models of 
our customers, our competitive position and results of operations could be adversely affected. 
•
As we introduce technologies that enable us to enter into new markets, we may experience difficulty 
monetizing these new solutions and be exposed to increased or new forms of competition. 
•
Our go-to-market activities and the distribution of our WaveLogic coherent modem technology within 
the market for high-performance transceivers/modems could expose us to increased competition and 
poses other risks that could adversely affect our existing systems business or results of operations. 
•
Supply chain challenges and constraints, including for semiconductor components, could adversely 
impact our growth, gross margins and financial results. 
•
Our exposure to the credit risks of our customers and resellers may make it difficult to collect 
receivables and could adversely affect our revenue and operating results. 
•
We may be required to write down the value of certain significant assets, which would adversely affect 
our operating results. 
•
Problems affecting the performance, interoperability, reliability or security of our products could 
damage our business reputation and negatively affect our results of operations. 
•
Strategic acquisitions and investments could disrupt our operations and may expose us to increased 
costs and unexpected liabilities. 
•
Emerging issues related to the development and use of AI could give rise to legal or regulatory action, 
damage our reputation, or otherwise materially harm of our business. 
Risks Relating to the Macroeconomic Environment and our Global Presence 
•
Our business and operating results could be adversely affected by unfavorable changes in 
macroeconomic and market conditions and any reduction in the level of customer spending in response. 
•
The international scale of our sales and operations exposes us to additional risk and expense that could 
adversely affect our results of operations. 
•
Efforts to increase our sales and capture market share in targeted international markets may be 
unsuccessful. 
•
We may be adversely affected by fluctuations in currency exchange rates. 
4 

Risks Related to Our Operations and Reliance on Third Parties 
•
We may experience delays in the development and production of our products that may negatively 
affect our competitive position and business. 
•
We rely on third-party contract manufacturers, and our business and results of operations may be 
adversely affected by risks associated with their businesses, financial condition, and the geographies in 
which they operate. 
•
Our reliance on third-party component suppliers, including sole and limited source suppliers, exposes 
our business to additional risk, including risk relating to our suppliers’ businesses and financial 
position and risks arising as a result of geopolitical events, and could limit our sales, increase our costs 
and harm our customer relationships. 
•
We rely on third-party resellers, distributors and service partners, and our failure to manage these 
relationships effectively could adversely affect our business, results of operations, and relationships 
with our customers. 
•
We may be exposed to unanticipated risks and additional obligations in connection with our resale of 
complementary products or technology of other companies. 
•
Growth of our business is dependent on the proper functioning and scalability of our internal business 
processes and information systems. Adoption of new systems, modifications or interruptions of 
services may disrupt our business, processes and internal controls. 
•
Restructuring activities could disrupt our business and affect our results of operations. 
•
If we are unable to attract and retain qualified personnel, we may be unable to manage our business 
effectively. 
Risks Related to Intellectual Property, Litigation, Regulation and Government Policy 
•
Our intellectual property rights may be difficult and costly to enforce. 
•
We may incur significant costs in response to claims by others that we infringe upon their intellectual 
property rights. 
•
Our products incorporate software and other technology under license from third parties, and our 
business would be adversely affected if this technology were no longer available to us on commercially 
reasonable terms. 
•
Data security breaches and cyber-attacks targeting our enterprise technology environment and assets 
could compromise our intellectual property, technology or other sensitive information and could cause 
significant damage to our business, reputation and operational capacity. 
•
We are a party to legal proceedings, investigations and other claims or disputes, which are costly to 
defend and, if determined adversely to us, could require us to pay fines or damages, undertake remedial 
measures, or prevent us from taking certain actions, any of which could adversely affect our business. 
•
Changes in trade policy, including the imposition of tariffs and other import measures, increased export 
control, sanctions and investment restrictions, and efforts to withdraw from or materially modify 
international trade agreements, as well as other regulatory efforts impacting the import and sale of 
foreign equipment, may adversely affect our business, operations and financial condition. 
•
Changes in government regulations affecting the communications and technology industries and the 
businesses of our customers could harm our prospects and operating results. 
•
Government regulations related to the environment, climate change and social initiatives could 
adversely affect our business and operating results. 
5 

•
Investor and other stakeholder scrutiny related to our environmental, social and governance practices, 
and our disclosed performance and aspirations for these practices, may increase costs and expose us to 
numerous risks. 
•
Changes in tax law or regulation, effective tax rates and other adverse outcomes with taxing authorities 
could adversely affect our results of operations. 
•
Failure to maintain effective internal controls over financial reporting could have a material adverse 
effect on our business, operating results and stock price. 
Risks Related to Our Common Stock, Indebtedness and Investments 
•
Our stock price is volatile. 
•
Outstanding indebtedness under our senior secured credit facilities and senior unsecured notes may 
adversely affect our liquidity and results of operations and could limit our business. 
•
Significant volatility and uncertainty in the capital markets may limit our access to funding on 
favorable terms or at all. 
Item 1. Business 
Overview 
We are a network technology company, providing hardware, software, and services to a wide range of 
network operators and enabling enhanced network capacity, service delivery, and automation. Our solutions 
support network traffic across a wide range of applications, including cloud, video, data, artificial intelligence 
(“AI”), and voice. Our network solutions are used globally by communications service providers, cable and 
multiservice operators, cloud providers, submarine network operators, governments, and enterprises across 
multiple industry verticals. 
Our portfolio is designed to enable the Adaptive Network™, which is our vision for a network end state that 
leverages a programmable and scalable network infrastructure, driven by software control and automation 
capabilities, that is informed by network analytics and intelligence. By using our network solutions to transform 
network infrastructures into dynamic, programmable environments driven by automation and analytics, we believe 
network operators can realize greater business agility, adapt dynamically to changing end-user service demands, 
rapidly introduce new revenue-generating services, and scale networks to meet increased traffic demands. Our 
solutions are also designed to enable network operators to gain valuable, real-time network insights, allowing them 
to optimize network performance and maximize the return on their network infrastructure investment. 
Our solutions include Networking Platforms, including our Optical Networking portfolio and our Routing 
and Switching portfolio, which can be applied from the network core to end-user access points, and which allow 
network operators to scale capacity, increase transmission speeds, allocate traffic efficiently, and adapt 
dynamically to changing end-user service demands. Our Optical Networking portfolio includes products that 
support long haul and regional networks, submarine and data center interconnect networks, and metro and edge 
networks. Our Routing and Switching portfolio includes products and solutions that enable efficient Internet 
Protocol (“IP”) transport in next-generation metro core, aggregation, and access networks, including converged 
IP, optical, and fiber-based broadband access applications. 
To complement our Networking Platforms, we offer Platform Software, which includes our Navigator 
Network Control Software (“Navigator NCS”) (formerly known as Manage, Control and Plan (“MCP”)) and 
advanced applications that deliver multi-layer domain control and operations for network operators. 
Through our Blue Planet® Automation Software, we also enable complete service lifecycle management 
automation with productized operational support systems (“OSS”), including inventory, orchestration, and 
assurance solutions that help our customers to achieve closed loop automation across multi-vendor and multi-
domain environments. 
6 

In addition to our systems and software, we also offer a broad range of services that help our customers 
build, operate, and improve their networks and associated operational environments. These include network 
transformation, consulting, implementation, systems integration, maintenance, network operations center (NOC) 
management, learning, and optimization services. 
Industry Background 
Network Traffic Growth and Increased Capacity Requirements 
The markets into which we sell are dynamic and characterized by a high rate of change. Optical networks – 
which carry video, data, and voice traffic by encoding digital information on multiple wavelengths of light 
traveling across fiber optic cables – continue to experience strong demand for increased bandwidth due to traffic 
growth. This network traffic growth is being driven by a diverse set of communications services that often 
require on-demand service levels by enterprise and consumer end users, as well as cloud-based and AI services 
and applications: 
•
Cloud-Based Services. Enterprises and consumers continue to replace locally-housed computing and 
storage by adopting a broad array of innovative cloud-based models – including Platform as a Service 
(PaaS), Software as a Service (“SaaS”) and Infrastructure as a Service (IaaS) – and an expanding range 
of cloud-based services that host key applications, store data, enable the viewing and downloading of 
content, and utilize on-demand computing resources. In addition, content is increasingly moving to the 
network edge, creating capacity and traffic demands closer to the user. 
•
Generative AI (“Gen-AI”). In recent periods, Gen-AI platforms have experienced rapid and 
unprecedented user adoption with a notable array of new offerings entering the market across a diverse 
set of use cases. Gen-AI presents significant opportunities for businesses and other users to automate 
tasks, augment creativity, and improve operational efficiency. Given the Gen-AI adoption trajectory to 
date, and its potential to be a significant contributor to innovation and productivity, Gen-AI has been 
and will likely continue in future periods to be a significant stimulant or accelerator of network 
demand, both inside and outside of the data center. 
•
Over-the-Top (“OTT”) Services and Video Streaming. OTT content refers to video, multimedia and 
other applications provided directly from the content source to the viewer or end user across a third-
party network. Traffic from streaming and OTT services, including high definition and ultra-high 
definition video, has expanded with the increased availability of, and end-user demand for, video 
content accessible through a variety of devices and media. 
•
Mobile Traffic and Fifth-Generation Wireless Broadband (“5G”). Traffic from mobile web 
applications, including video, internet, and data services, has expanded with the continued proliferation 
of smartphones and other wireless devices. Because much of wireless traffic ultimately travels across a 
wireline network to reach its destination, growth in mobile communications continues to place higher 
demands upon wireline networks, including the backhaul and fronthaul portions of networks emanating 
from cell sites. 5G technology is further enabling meaningful increases in bandwidth and performance 
and enabling emerging applications and services that 4G/LTE networks cannot support. To fully 
capitalize on these opportunities, network operators will need to consider the demands that 5G 
technology will place on their wireline infrastructures. 
•
Machine Learning (“ML”) and AI. By enhancing network intelligence and automation, ML and AI can 
enable improvements in network planning, operations, user experience and trouble resolution. 
Adoption of these technologies is expected to continue to increase as the IoT expands and additional 
services are created, and ML and AI are expected to continue to serve as drivers of further network 
traffic and solutions innovation, including driving bandwidth demands in various industries, including 
manufacturing, research and development, robotics, security, healthcare, and transportation. 
•
Fiber-Based Access Networks – Residential and Enterprise. In recent years there has been a shift in 
bandwidth demands, traffic patterns, and computing functions to the edge of networks, including due to 
increases in remote and hybrid working and distance learning. With a higher percentage of data flows 
7 

concentrating closer to the network edge, more capacity and higher bandwidth to home and enterprise 
locations are required. Network densification initiatives by cable and multiservice operators seek to 
push more digital fiber closer to the end user in an effort to increase potential bandwidth, computing 
capability and data speeds to homes and enterprises, while decreasing power, space, and operating 
costs. Wireline service providers are responding to similar service and end customer demands by 
extending fiber to the home and deeper into access networks. In addition, a growing number of 
governments around the world are investing in rolling out access networks to underserved communities 
as part of an effort to bridge the digital divide. 
Emerging technologies, services, and applications are further impacting, or are expected to impact, network 
infrastructures, particularly at the edge of networks, where increased computing power and automation are 
required to meet the quality of experience required by end users. Examples of these include: 
•
Internet of Things (“IoT”). As networked connections between devices and servers grow, 
machine-to-machine-related traffic (“M2M”) is expected to represent an increasing portion of traffic. 
These connections allow sharing of data that can be monitored and analyzed, including in smart grid 
applications, health care and safety monitoring, resource and inventory management, home 
entertainment, consumer appliances, connected transportation and other M2M data applications. 
•
Immersive Technologies and Ultra-High Definition Video (“UHD”). Immersive technologies like 
virtual reality (VR), augmented reality (AR), interactive experiences, gaming, and 360° video, as well 
as UHD (4K and 8K) video, are placing or likely to place further capacity demands on networks as 
adoption of these technologies grows. Consumer electronics and other technology companies are 
rapidly advancing these applications, which require high bandwidth and low latency, and are making 
the associated devices more widely available and affordable to consumers. 
•
Edge Computing. To provide end users with the required experience for a growing set of immersive 
cloud services, network operators have increased, and are expected to continue to increase, the number 
and capabilities of edge computing locations to allow these latency-sensitive workloads to be processed 
closer to users. These changes at the edge of networks may affect network topologies, demands, and 
traffic patterns. 
We believe that increased adoption of these technologies, services, and applications and their performance 
requirements will further increase network traffic and place additional service challenges on network 
infrastructures. We also believe that, in turn, network operators will be required to invest in their metro, access, 
and aggregation networks, as well as their core networks. 
Demand for Network Transformation 
In the face of intense competition and disruptive business models, communications service providers 
globally are engaging in large network transformation efforts that aim to simplify and reduce operational costs 
and create agile, software-driven platforms from which to develop new revenue-generating services. As part of 
these efforts, providers are reimagining legacy processes and software in their business support systems (“BSS”) 
and operations support systems (“OSS”) and redefining how they want these software platforms to interact with 
network infrastructure. The goal of these initiatives is to enhance customer loyalty, create a more digital 
experience for their end users, reduce operational complexity and costs, and introduce greater service agility. As 
a result, we expect that network operators will continue to pursue strategies that better leverage AI, automation, 
consulting services, analytics, and software control capabilities in an effort to achieve this transformation. 
We expect that service providers will also pursue closed loop automation between their software operations 
platforms and network infrastructure. Closed loop automation is a continuous cycle of communications between 
the programmable network infrastructure and software control elements to analyze network conditions, traffic 
demands, and resource availability to determine the best placement of traffic or network functions to deliver 
optimal service quality and resource utilization. 
8 

We believe that adoption of these network transformation strategies around OSS and BSS, and the related 
evolution of core, metro, aggregation and access network infrastructures, will require network operators and their 
network solutions vendors increasingly to look to utilize an ecosystem of cloud-native software, consulting and 
delivery services, and software-optimized and controlled physical and virtual network resources. We expect that 
these network architectural approaches, in turn, will require an increased degree of cooperation, collaboration 
and interoperability among networking solutions vendors. 
Different Approaches to Design and Procure Network Infrastructure Solutions 
Network operators are pursuing a diverse range of approaches, or “consumption models,” in their design and 
procurement of network infrastructure solutions. In addition to purchasing fully integrated network solutions 
including hardware, software and services from the same vendor, new consumption models include the 
procurement or use of: 
•
a fully integrated infrastructure solution from one vendor with the separate use of a network operator’s 
own software or that of another vendor; 
•
integrated photonic line systems with open interfaces from one vendor and the separate or 
“disaggregated” procurement of modem technology from a different vendor; 
•
open source software in concert with or as an alternative to integrated, proprietary third-party software 
solutions; 
•
open IP network operating systems running on off-the-shelf third-party equipment; and 
•
system integration services or customer self-integration to reconstitute the disaggregated components. 
Driven by the need to add capacity quickly and by restrictions in some jurisdictions on fiber ownership, 
some cloud providers are using managed optical fiber networks (“MOFN”) through which they lease lit fiber 
pairs from advanced optical networks owned by communications service providers in order to expand their reach 
and better serve their end users. In addition, some network operators are pursuing network strategies that 
emphasize the deployment of smaller form factor, pluggable modem technology, that can be housed in a switch 
or router platform or used in place of a modem in a traditional optical system. 
The consumption models that ultimately emerge and their level of adoption will depend in significant part 
on the circumstances and strategies of certain network operators. While the adoption of these approaches has 
been limited to date, we expect that continued customer consideration of a variety of consumption models will 
require network operators and vendors alike to assess, and possibly broaden, their offerings and commercial 
models over time. We expect this dynamic will place a premium on a vendor’s ability to provide a range of 
network solutions with the maximum amount of flexibility and choice. 
Supply Chain and Demand Environment Dynamics 
In the face of demand across a range of industries, global supply for certain raw materials and components, 
including, in particular, semiconductor, integrated circuits, and other electronic components, experienced 
substantial constraint and disruption in recent prior periods. Though supply conditions have stabilized from their 
highest levels of disruption, they have yet to return to conditions experienced in the period prior to the 
COVID-19 pandemic. In response, governments and some of our network operator customers worldwide have 
intensified efforts to enhance supply chain resilience, emphasizing the need for robust risk management 
strategies. 
During the most difficult periods of supply constraint, companies across many industries, including those of 
our end customers, deployed risk mitigation strategies to ensure continued operations. The strategies employed 
by some of our customers included increases in advance orders of networking equipment. With the stabilizing 
supply chain environment experienced in recent periods, customers’ strategies have shifted, resulting in their 
9 

need to digest their excess inventory of networking equipment purchased during that period, which led to a 
period of lower demand for equipment. 
The United States and various foreign governments have established certain trade and tariff requirements, 
and from time to time the U.S. government has indicated a willingness to revise, renegotiate, or terminate various 
existing multilateral trade agreements and to impose new taxes and restrictions on certain goods imported into 
the United States. Current dynamics between the United States and China are playing a pivotal role in shaping 
the global supply chain landscape, and have had an important impact on trade policies, resiliency efforts, and 
various domestic preference and investment initiatives. This changing bilateral relationship, which is marked by 
trade tensions and geopolitical complexities, has prompted both nations to reassess their economic strategies, 
creating a dynamic environment for many industries. This environment, characterized by tariffs and 
technological competition, may introduce reconfiguration of global supply chains and prompt companies to 
diversify sourcing and manufacturing locations. In addition, the incoming U.S. administration has announced an 
intent to impose additional tariffs, including on all imports from China, Mexico, and Canada. Simultaneously, 
there is a growing emphasis on domestic preference initiatives, as countries seek to bolster their own 
manufacturing capabilities in an effort to ensure greater economic autonomy. This evolving landscape presents 
challenges and opportunities for companies navigating the wide range of resulting regulatory, economic and 
supply chain management complexities. 
Product Development and Sustainability 
As network traffic and service expansion continue to grow, we believe network operators are seeking 
technology innovation to help support their business models in preparation for a low carbon future. Network 
operators are also increasingly looking to their technology vendors to help them manage the environmental 
impact of their networks, including energy use, greenhouse gas emissions, and waste. Market transition to a low 
carbon future and greener technology presents meaningful opportunities for enhanced competitive positioning 
and business growth for technology innovation leaders capable of advancing a product development strategy that 
addresses network performance and sustainability outcomes. 
Strategy 
Our strategy is to leverage our optical technology leadership to drive the profitable growth of our business 
and to expand our addressable market into complementary and adjacent network applications, in particular with 
respect to opportunities to apply coherent technologies inside and around the data center. The key pillars of our 
strategy are set forth below: 
Expand Leadership in Optical Networking. We are focused on using our significant research and 
development investment capacity to push the pace of innovation in our traditional markets. We continue to 
innovate, increase the performance of, and enhance the capabilities for our leading WaveLogicTM coherent 
modem technology in multiple form factors. Specifically, we have brought to market the sixth generation of this 
technology in our WaveLogic6 Extreme performance-optimized form factor, and we intend to bring to market 
our WaveLogic6 Nano (“WL6n”) pluggable offering for users that prioritize power and space considerations. In 
addition, to capture opportunities to expand our market inside and around the data center, we intend to invest in 
photonic line systems and coherent pluggables for data center application. 
To address market trends toward disaggregated consumption models, we offer a range of networking 
solutions to enable the evolution of next-generation network infrastructures and promote choice in our markets. 
We have made our coherent optical technology available in integrated systems, pluggable form factors, and 
components that together address a range of technical and economic requirements of network operators. We are 
pursuing sales opportunities that leverage our WaveLogic technology in the form of high-performance 
transceivers/modems – the combination of a Ciena-designed optical chipset and application-specific integrated 
circuit (ASIC) – with other key optical components that are sold independently of integrated systems, including 
10 

to original equipment manufacturers (“OEMs”), original design manufacturers, and value-added resellers. We are 
also pursuing opportunities with different go-to-market models for our passive optical network (“PON”) 
technology, such as our microplug Optical Line Terminal (“OLT”) transceiver, including through sales to 
network equipment manufacturers. By addressing multiple consumption models, including by offering 
component level solutions to the market, we seek to secure a larger portion of the world’s optical network 
wavelengths, expand our addressable market and access new customer verticals and applications. 
Grow Addressable Market in Next Generation Metro and Edge Networking Solutions. To expand our 
addressable markets and capture additional opportunities in metro and edge applications, we are making 
significant investments in our Routing and Switching solutions. We are leveraging our optical expertise to offer 
new architectural approaches to address Metro and Edge network use cases. To enable this strategy, we offer 
solutions designed to integrate IP networking software with optical coherent transmission, including 
WaveRouter™, a purpose-built coherent metro router designed to converge IP and Optical layers in the metro 
network. We also offer our Navigator NCS multi-layer domain controller software, which operationalizes 
converged IP optical platforms. We are investing in broadband solutions, including innovative PON transmission 
technology, to intersect with public funding opportunities to bring broadband connectivity to underserved 
communities. 
Drive Software-Led Transformation. To support our customers’ needs for rapid service introduction and 
optimized network operation, we seek to improve network layer automation and programmability by advancing 
our Navigator NCS software and applications. We are also focused on gaining adoption and expanding 
application for our Adaptive IP software, leveraging our Service-Aware Operating System (“SAOS”) embedded 
in our Routing and Switching products. We also seek to promote broader adoption of our Blue Planet 
Automation Software, highlighting its ability to automate the service management lifecycle. Through this 
automation, we believe that Blue Planet can help customers with their digital transformations by transitioning 
legacy networks into “service ready” networks, accelerating the creation, delivery and management of new 
services. A key part of our strategy is to grow our software business as a portion of our total business through 
expanded customer adoption and broader applications, and to build a strong automation business through the 
delivery of flexible, modular, and targeted automation solutions. 
Deliver Innovative Global Services. Underpinning all aspects of our portfolio is our broad suite of value-
added global services that help our customers to build, operate, and improve their networks. We are focused on 
broadening our advanced services capabilities with offerings to maximize our customers’ network infrastructure 
investment throughout the network lifecycle, including systems integration, multi-vendor migration, and 
transformation. Key to our delivery of strong services offerings is our close collaboration with our customers, 
which allows us to gain insight into the challenges they face and to provide services that meet their desired 
business outcomes. 
Customers and Markets 
We sell our product and service solutions through direct and indirect sales channels to network operators in 
the following customer and market segments: 
•
Communications Service Providers. Our communications service provider customers include regional, 
metro, national and international wireline and wireless carriers, and access network providers. 
•
Cloud Providers. Our cloud provider customers – also referred to in our markets as web-scale or hyper-
scale providers – include internet content providers and providers of internet services and 
infrastructure, including data centers, cloud compute, SaaS, storage, AI, and web hosting services. In 
addition to their direct purchases, these customers are also significant purchasers of capacity on 
submarine and wireline networks globally, and they heavily influence networking solution alternatives 
by other network operators, including communications service providers. 
11 

•
Cable and Multiservice Operators (MSO). Our customers include regional, metro, national, and 
international cable and multiservice operators. 
•
Submarine Network Operators. Our customers include service providers, cloud providers, and 
consortia operators of submarine communications networks across the globe. 
•
Enterprises. Our enterprise customers include large, multi-site commercial organizations, including 
participants in the financial, healthcare, transportation, utilities, energy, and retail industries. 
•
Government and Research & Education. Our government customers include federal, state, and local 
agencies, as well as large, advanced research and education networks. 
Products and Services 
Our portfolio of products and services, which is designed to enable our Adaptive Network vision, includes 
the solutions described below within our Networking Platforms, Platform Software and Services, Blue Planet 
Automation Software and Services, and Global Services operating segments. We also offer solutions that bring 
together multiple products and services from across our operating segments and portfolios to address key 
customer use cases and infrastructure needs with an aim to enable our customers to evolve their existing network 
environments. 
Networking Platforms 
Our Networking Platforms segment consists of our Optical Networking and Routing and Switching 
portfolios. 
Optical Networking. Our Optical Networking portfolio includes a range of products and solutions that use 
our WaveLogic coherent optical technology and our intelligent photonics solutions and are optimized for the 
convergence of coherent optical transport, open optical networking, Optical Transport Network (“OTN”) 
switching and IP routing and switching. 
Our 6500 Packet-Optical Platform provides a flexible and scalable converged multi-layer transport solution 
that adds capacity to core, regional, metro and submarine networks and enables efficient data transport at high 
transmission speeds. This platform provides leading coherent wavelength capacities, from 100 gigabits per 
second (“100G”) to 1.6 terabits per second (“1.6T”), along with a flexible photonic layer and multi-layer control 
plane capabilities for scale and service differentiation. This platform, which includes several chassis sizes and a 
comprehensive set of line cards optimized for individual services or applications, can be used throughout the 
network, from customer premises to access and metropolitan networks, regional and core networks, and 
submarine cable landing sites. 
Our Waveserver® family of products consists of compact, modular interconnect platforms that allow 
network operators to scale bandwidth and support high-bandwidth interconnect applications, such as high-speed 
data transfer from 100G to 1.6T, content delivery, including encrypted data transfer between data centers. 
Waveserver is purpose-built to address disaggregated transponder, data center and general space-constrained 
applications, using a small footprint and low power design. With its modern software architecture, open 
application programming interfaces (“APIs”), and common data models, Waveserver is easy to operate and 
integrate into existing networks and facilitates deployment of on-demand cloud and high-capacity connectivity 
services. 
Our 6500 Reconfigurable Line System (“RLS”) is a compact, disaggregated, open intelligent photonic layer 
line system that improves scalability, reduces footprint, and offers flexibility and programmability. Its 
applications include subsea, long-haul and metro networks and data center interconnection and general network 
modernization and simplification. It offers increased fiber capacity through automated and integrated C- and 
12 

L-band deployments and provides highly dense, remote optical add/drop multiplexing and switching features that 
enable network operators to react to unpredictable traffic requirements by scaling connectivity and capacity. 
Our coherent-optimized edge line system, Coherent ELS, is a high-capacity disaggregated line system that is 
designed to address next-generation access photonic line system requirements, including the transport of coherent 
wavelengths originating from pluggables, through a compact, hardened form factor designed to accommodate 
outside plant deployments. With a focus on reducing operational complexity, our Coherent ELS open line system 
(OLS) uses integrated intelligence and automation to simplify and scale deployments. 
Our O-NID is a purpose-built edge OTN demarcation device that modernizes OTN networks by delivering 
OTN to the edge in a compact, hardened form factor that is designed to flexibly address a range of applications 
while reducing cost, space, and power. The O-NID allows network providers to seamlessly extend the reach of 
their OTN networks closer to the edge and customer premises where space and power are limited and can 
efficiently deliver gigabit ethernet 1GbE/10GbE/100GbE services and 100/200G waves to the customer premises 
with a solution that simplifies deployments, service turn-up, and management. 
We also offer footprint-optimized coherent pluggable transceivers, which utilize our WaveLogic 
technology, to address next-generation access, metro, regional and data center interconnect network applications, 
which are supported across both our systems and third-party equipment. Our opportunities with high-
performance coherent pluggable transceivers are reflected within the Optical Networking product line of our 
Networking Platforms segment. 
We also offer our 5400 family of Packet-Optical Platforms, which provide for optical transport, traffic 
aggregation at the network edge and switching that are optimized for handoff at the network core. 
Routing and Switching. Our Routing and Switching portfolio includes products and solutions that enable 
next-generation metro, access and aggregation, or “edge” networks, including solutions that allow customers to 
simplify their network designs while delivering new, revenue-generating services. These products route, 
aggregate, and switch IP-based traffic to support applications including IP services, Ethernet business services, 
cell site routing, mobile cross-haul, converged haul, 5G, fiber-based access networks, and residential broadband 
access. Our Routing and Switching products are based on our Adaptive IP approach, which delivers end-to-end 
IP-based services in an automated and more simplified manner than traditional IP network designs. Our Routing 
and Switching products enable operators to achieve improved network cost effectiveness, including reduced costs 
associated with power and space, as compared to more complex, traditional IP routing. 
Central to our Routing and Switching platforms is our SAOS next-gen IP network operating system, which 
provides the software-based capabilities to support 5G, IP VPN services, access, PON, converged interconnect 
network (CIN) architectures, and coherent routing applications in our portfolio. SAOS provides automation-
friendly intelligence and operational data to enable network-level programmability supported by open standards. 
Our 3000 family of Service Delivery Platforms and our 5000 family of Service Aggregation Platforms 
support network access and aggregation, respectively, and have been principally deployed to support IP and 
Ethernet business services, wireless front haul, backhaul, and mid-backhaul applications, and residential 
broadband applications. Our 3000 family of platforms are purpose-built to fit small to large customer sites as 
well as multi-tenant offices, residential buildings or homes, and edge office or outside plant applications. Our 
5000 family provides aggregation to fill higher capacity links within both the metro access and aggregation tiers 
of networks, allowing operators to reduce the number of router assets required in the core and to better 
implement edge cloud architectures. 
Our 8100 Coherent Routing platforms combine high-capacity multi-terabit IP routing and switching from 1 
gigabit ethernet (“GbE”) to 400GbE with high capacity WaveLogic 5 Nano coherent optical transport from 
100/200/400GbE for next-generation metro and edge applications. 
13 

Our WaveRouter™ is a purpose-built coherent metro router designed to converge IP and Optical layers in 
the metro network. WaveRouter can flexibly scale Wide Area Network (“WAN”) traffic from 6-192T, with the 
ability to scale up and out, delivering capacity when and where needed. With optional WaveLogic™ capabilities, 
WaveRouter can support dense, high-capacity coherent routing and switching metro applications. 
Our Vyatta virtual routing and switching technology and products include a cloud-grade router and software 
for enterprise and cloud networks that enable hardware-like routing performance for enterprises across multi-
cloud and virtualized edge networks. This scalable and modular software can be deployed as a Virtual Machine 
(VM) application as well as in virtualized and disaggregated network environment. 
Our 6500 Packet Transport System (“PTS”) combines packet switching, control plane operation, and 
integrated optics. Together with our 3900 platforms, PTS enables our service provider customers to migrate their 
legacy TDM (SONET/SDH/PDH) services to a scalable, lower operational cost packet solution. 
Our Routing and Switching portfolio includes our fiber-based broadband access solutions. Our microplug 
OLT transceiver combines PON hardware and software for integration into a router to support broadband and 
other applications. Our Routing and Switching portfolio also includes cloud-native software solutions, including 
a virtual Broadband Network Gateway for access network. Our 3800 family of ONUs support fiber-based PON 
broadband access service delivery to residential or enterprise locations. 
Our Routing and Switching portfolio also includes our 8700 Packetwave® Platform, a multi-terabit packet 
switching platform for high-density metro networks and inter-data center wide area networks. 
Platform Software and Services 
Our software offerings also include our Platform Software, which provides domain control management, 
analytics, data and planning tools and applications to assist customers in managing their networks, including by 
creating more efficient operations and more proactive visibility into their networks. Our Platform Software 
includes: 
•
Navigator NCS. Navigator NCS software provides intelligent, multi-layer network control of our 
routing, switching and optical solutions, enabling simplification, acceleration and automation of multi-
layer network operations. Our Navigator NCS domain controller provides fault, configuration, 
accounting, performance, and security management for multi-layer, multi-vendor networks, in 
combination with services management and online network planning. Navigator NCS simplifies multi-
layer lifecycle operations – including equipment commissioning, service provisioning, service 
assurance and performance monitoring. Navigator NCS uses Generative AI applications and analytics 
to allow customers to adopt AI operations approaches in their management of their networks. 
•
Navigator NCS Apps. Our suite of Navigator NCS applications integrate software control and analytics 
applications in a unified interface that provides network performance data. Through our suite of 
Navigator NCS applications and open APIs, Navigator NCS software can integrate into network 
operators’ OSS and business processes, supporting our customers’ journeys towards automation of 
end-to-end operational workflows. 
•
Platform Software Services. To complement our Platform Software portfolio, we offer a range of 
related services that include software subscription services, consulting, network migration and 
integration, installation and upgrade support services, and technical support relating to our Platform 
Software offerings. These services are focused on enabling our customers to operate their Ciena 
networks most efficiently and to modernize their operations. 
Our Platform Software offering also includes planning tools as well as a number of legacy software 
solutions, including our OneControl unified management system, that support our installed base of network 
14 

solutions. As we achieve further customer adoption of our Navigator NCS software platform, and as we 
transition features, functionality and customers to that platform, we expect revenue to decline for our legacy 
Platform Software solutions. 
Blue Planet Automation Software and Services 
Our Blue Planet Automation Software is a comprehensive, cloud native, standards-based software portfolio 
that enables our service provider customers to accelerate their digital transformation. We believe digital 
transformation is critical for service providers to reduce the cost and complexity of their OSS, to reduce 
customizations, and to help them monetize their networks by automating service delivery across multiple vendors 
and domains. Our Blue Planet product applications are open and modular, and can be deployed either 
individually or in any combination on a single cloud-native platform. These applications include: 
•
Blue Planet Inventory (“BPI”). By integrating or “federating” data from multiple inventory systems 
and presenting it in a single dynamic view, BPI allows real-time visibility into the end-to-end topology 
and status of network, cloud, and service resources. Integrating with legacy OSS, BPI helps network 
providers simplify key operational processes such as service fulfillment, network planning, and service 
assurance. Through its comprehensive inventory of network services, devices, and virtual functions, 
BPI allows for observation of AI, analytics, assurance and other critical technologies in designing, 
planning, and operating a network. 
•
Multi-Domain Service Orchestration (MDSO). Network infrastructures are comprised of multiple 
technology layers and domains – such as the radio access network (“RAN”), data center, cloud, access, 
transport, and mobile core networks. With new 5G network implementations, it is often complex for 
network operators to offer automated, end-to-end services in this environment. Blue Planet provides 
model-driven, intent-based service orchestration across multiple physical and virtual network domains, 
multiple layers (Optical, Ethernet, IP, SD WAN, PON, Mobile Core, RAN, and slicing), across any set 
of hardware and software vendors. 
•
Multi-Cloud Orchestration (“MCO”). Operators are deploying a growing number of cloud-based 
services to meet the needs of their customers. Blue Planet MCO provides orchestration of Cloud-Native 
Functions (CNFs), Virtual Network Functions (VNFs) and other cloud-based resources. MCO uses an 
open, vendor-agnostic approach that allows network operators to manage the lifecycle of cloud-based 
resources within and across multiple clouds and cloud providers. 
•
Route Optimization and Analysis (“ROA”). ROA combines routing, traffic, and performance analytics 
for real-time monitoring of IP services across domains and across the cloud. These capabilities provide 
enhanced network observability capabilities and enable troubleshooting of latent or transient network 
problems, and modeling, to predict the impact of network infrastructure, service, and workload 
changes, to build more resilient networks. 
•
Unified Assurance & Analytics (“UAA”). UAA leverages multi-layer/multi-domain assurance and 
AI-powered analytics to provide insights into the health and performance of network resources and 
services, ensuring an end-customer quality of experience and availability to meet dynamic service 
demands. 
•
Blue Planet Services. To complement our software portfolio, we offer a range of related services that 
include professional services for solution customization and OSS integration, software and solution 
support services, consulting and design, and technical support relating to our software offerings. These 
services are focused on enhancing network automation and network analytics, enabling multi-vendor 
integration and support, and implementing programmable multi-domain next-generation networks. 
The Blue Planet Automation Software portfolio allows operators to fulfill services rapidly and to meet 
end-customer quality-of-experience expectations through an entire services lifecycle approach. It also advances 
network operators towards their vision of self-healing and self-optimizing networks through closed loop 
15 

automation. Our entrance into the market relating to these software automation capabilities remains in the early 
stages and, accordingly, revenue from our Blue Planet Automation Software and Services segment continues to 
represent a relatively small portion of our total revenue. 
Global Services 
We offer a broad suite of value-added services that help our customers to build, operate, and improve their 
networks. We believe that our services offerings, and our close collaboration with our customers, provide us with 
insight into the network and business challenges they face, allowing us to provide services to meet their desired 
business outcomes. We continue to broaden our advanced services capabilities with offerings including systems 
integration, multi-vendor migration, and transformation. 
Our Global Services portfolio includes a range of offerings to meet customer needs and maximize their 
network infrastructure investment throughout the network lifecycle. These include: 
•
Build. Consulting services to enhance network performance or plan migration to next-generation 
infrastructures, implementation services to deliver proper planning, design, and deployment services, 
systems integration services to integrate third-party solutions, and migration services to help customers 
adopt new technologies and retire legacy equipment; 
•
Operate. Maintenance services that provide end-to-end support for network hardware and software, 
and managed services to provide management of network infrastructure operations; and 
•
Improve. Optimization services designed to ensure that networks are running at peak performance, and 
learning services designed to enable customers to understand and operate their networks more 
effectively. 
These services are delivered using a combination of our internal services resources, technical support 
engineers, and qualified and authorized third-party service partners. 
Product Development 
To remain competitive, we must continually invest in and enhance our solutions offerings, addressing new 
market opportunities, adding new features and functionality, and ensuring alignment with market demand. Our 
product development efforts seek to design and bring to market solutions that embrace our Adaptive Network 
vision through further advances in programmable systems and software, analytics, and control and automation. 
Through our development efforts, we seek to support network operators as they pursue new business models and 
sources of revenue from their network infrastructure. We seek to develop products aimed at optimizing price for 
performance, managing power consumption, reducing lifecycle operating costs and space requirements, and 
minimizing the environmental impact of our customers’ network operations. Our approach is also focused on 
designing products that address a range of emerging consumption models for networking solutions. Our current 
development efforts are focused on: 
•
Reinforcing our coherent optical leadership with continued development that advances reach, 
transmission speed, spectral efficiency, power-per-bit, and service automation and assurance; 
•
Executing on parallel innovation paths for our next generation modem technology, including our 
WaveLogic6 Extreme and WaveLogic6 Nano offerings; 
•
Delivering on our Adaptive IP approach and extending the IP/routing capabilities and use cases of our 
Routing and Switching solutions to include converged metro core routing and support for mobile 
network 5G routing and cross-haul, enterprise edge, and fiber-based access networks for enterprise and 
residential access service delivery; 
•
Extending capacity of our fiber-based broadband access technologies and solutions; 
16 

•
Investing in photonic line systems and coherent pluggables for application inside and around the data 
center; 
•
Pursuing development to address different consumption models, including our module, pluggable, and 
component development initiatives; 
•
Enhancing our Adaptive Network vision through advances in hardware programmability and software-
based domain control, automation and analytics through Navigator NCS and purpose-built 
applications; 
•
Advancing our software-led transformation strategy and product development for our Blue Planet 
Automation Software to enable generation OSS transformation and closed loop automation; 
•
Developing products that enhance security and reduce risk to our customers’ networks from cyber 
attacks; and 
•
Delivering products that minimize the lifecycle climate impacts of our customers’ networks and 
support their sustainability goals. 
Our research and development efforts are also geared toward portfolio optimization and engineering 
changes intended to drive product and manufacturing cost reductions across our platforms and enable muti-
vendor sourcing of components. We follow a structured development lifecycle process aiming to supply products 
that are compliant with emerging security standards. Throughout certain phases of the development lifecycle, 
including testing and quality assurance, we leverage AI to increase productivity and to improve development 
efficiencies. 
We regularly review our existing solutions offerings and prospective development of new features, 
components, or products in order to determine their fit within our portfolio and broader corporate strategy. We 
also assess the market demand, technology evolution, prospective return on investment, and growth 
opportunities, as well as the costs and resources necessary to develop and support these products. To ensure that 
our product development investments and solutions offerings are closely aligned with market demand, we 
regularly seek input from customers and promote collaboration among our product development, marketing, and 
sales organizations. In some cases, where we seek to utilize or gain access to complementary or emerging 
technologies or solutions, we may obtain technology through an acquisition or, alternatively, through initiatives 
with third parties pursuant to technology licenses, OEM arrangements, or other strategic technology relationships 
or investments. In addition, we participate in industry and standards organizations and, where appropriate, 
incorporate information from these affiliations throughout the product development process. 
Global Customer Engagement 
Our Global Customer Engagement organization includes a direct and indirect sales, system engineering, and 
services presence that is organized geographically around the following geographies and customer types: (i) the 
United States, Canada, the Caribbean and Latin America (“Americas”); (ii) “International”, which includes 
Europe, Middle East and Africa (“EMEA”) and Asia Pacific, Japan and India (“APAC”); and (iii) global cloud 
and content networking customers, which include cloud provider, content, and data center companies. Within 
each focus area, we maintain specific teams or personnel that focus on a particular region, country, customer, or 
market vertical. These teams include sales management, account salespersons, and sales engineers, as well as 
partner resources, field marketing, services professionals, and commercial management personnel, who are 
focused on maintaining a high-touch, consultative relationship with our customers. 
We also maintain a global partner program that includes distributors, resellers, systems integrators, service 
providers, OEMs, original design manufacturers, and other third-party distributors who market and sell our 
products and services. We utilize these third-party channel partners to market and sell our solutions into specific 
geographies, applications, or customer verticals. We believe there are opportunities to leverage these 
17 

relationships to expand our addressable market, while at the same time reducing the financial and operational risk 
of entering additional markets. 
To support our global customer engagement efforts, we invest in marketing activities to generate demand 
for our products and services. Our marketing strategy is highly focused on building our brand to create customer 
preference for Ciena, engaging in thought leadership programs to illustrate how our innovations solve customer 
business problems, and enabling our sales teams to drive customer adoption of our solutions. Our marketing team 
supports our sales efforts through a variety of activities, including direct customer interaction, account-based 
marketing campaigns, portfolio marketing, industry events, media relations, industry analyst relations, social 
media, trade shows, our website and other marketing vehicles for our customers and channel partners. 
A small number of customers currently account for a significant portion of our revenue. The loss of one or 
more of these customers or a significant reduction in their spending could have a material adverse effect on our 
business and results of operations. For further discussion of this concentration and the related risk, see the related 
discussion in “Risk Factors” under the heading “A small number of customers account for a significant portion of 
our revenue. The loss of one or more of these customers or a significant reduction in their spending could have a 
material adverse effect on our business and results of operations.” 
Operations and Supply Chain Management 
Most of the manufacturing for our products is conducted through third-party contract manufacturers. Our 
supply chain personnel manage the relationships with these third-party manufacturers and the global supply 
chain, addressing component sourcing, manufacturing, product testing and quality, fulfillment, distribution, and 
logistics relating to the support of our customers. 
We utilize a sourcing strategy that focuses on control over supplier selection and commercial terms of 
components and products that ultimately support our customers. Our product manufacturing strategy is designed 
to support early life industrialization capabilities closer to our product engineering team, as well as 
manufacturing in lower labor cost regions for volume. We rely upon third-party contract manufacturers, 
including those with facilities in Canada, Mexico, Thailand, India, and the United States, to manufacture, support 
and ship our products, and therefore are exposed to risks associated with their businesses, financial condition and 
the geographies in which they operate, including political risk, changes in tax and trade policy involving such 
countries, including tariffs, and physical risk, including the impact of climate change. We also rely upon contract 
manufacturers and other third parties to perform design and prototype development, component procurement, full 
production, final assembly, testing, and distribution operations. Our manufacturers and component distribution 
partners procure components necessary for assembly and manufacture of our products based on our 
specifications, approved vendor lists, bills of materials and testing and quality standards. Our manufacturers and 
component distribution partners’ activity is based on rolling forecasts that we provide to them to estimate 
demand for our products. We work closely with these partners and our suppliers to manage material, quality, cost 
and delivery times, inventory levels, and we continually evaluate their services in an effort to ensure performance 
on a reliable and cost-effective basis. Generally, our agreements with our suppliers and contract manufacturers 
are frame agreements against which we place purchase orders and do not commit to long-term volume purchases. 
We currently use partners and, in some cases, the same partners that support our manufacturing, to fulfill 
and deliver our products to customers. We believe that our sourcing, manufacturing, and distribution strategies 
allow us to conserve capital, lower costs of product sales, adjust quickly to changes in market demand, and 
operate without dedicating significant resources to manufacturing-related plant and equipment. 
We continue to focus on a range of initiatives that seek to optimize our operations, improve our resiliency, 
and drive cost reductions and efficiencies. Our efforts include process optimization initiatives, such as vendor-
managed inventory, and other operational models and strategies designed to drive improved efficiencies in our 
sourcing, production, logistics, and fulfillment. To enhance operational efficiency and modernize our supply 
18 

chain operations, while driving long-term sustainability and resilience in the face of dynamic market conditions, 
we are pursuing a number of digital technology transformation efforts, including advanced analytics, automation, 
and other digital supply chain management solutions. We regularly assess and monitor our supply chain risks and 
have implemented various strategies to mitigate these risks and enhance resilience. These measures include dual-
sourcing strategies, inventory management initiatives, multi-geography operational capabilities, and ongoing 
direct relationships with key suppliers to ensure transparency and alignment with our goals. 
We actively work with our third-party vendors and business partners to promote socially responsible 
business practices within our global supply chain. To that end, we have adopted the principles set forth in the 
Responsible Business Alliance (“RBA”) Code of Conduct. The RBA Code of Conduct establishes standards that 
aim to ensure that working conditions in the electronics industry, or industries in which electronics are a key 
component, and in their supply chains are safe, that workers are treated with respect and dignity, and that 
business operations are environmentally responsible and conducted ethically. We promote these principles and 
require our suppliers to agree to adhere to these same standards. We also publish a Sustainability Report and 
maintain a Human Rights Policy applicable to suppliers, each of which includes more detail about our efforts to 
promote responsible business practices. 
Seasonality 
We have historically experienced seasonal quarterly fluctuations in customer activity in both orders and 
revenue, particularly with service provider customers. We have experienced reductions in order volume toward 
the end of the calendar year, as the procurement cycles of these customers slow and network deployment activity 
is curtailed. This period coincides with the first quarter of our fiscal year. This seasonality in our order flows has 
typically caused revenue for the first quarter of our fiscal year to be below that of the preceding quarter. These 
seasonal effects may not apply consistently in future periods and may not be a reliable indicator of our future 
revenue or results of operations. The effects of the dynamic demand environment we have experienced in recent 
periods, together with our backlog, have impacted and may continue to impact the traditional seasonality in our 
business. In addition, the growth as a percentage of our revenue of cloud provider customers, who do not 
necessarily follow the same seasonal ordering pattern, may also change this pattern in the future. For a more 
detailed discussion of the current demand environment and our backlog, see “Management’s Discussion and 
Analysis of Financial Condition and Results of Operations– Overview” in Item 7 of Part II of this annual report. 
Competition 
Competition among networking solution vendors remains intense on a global basis. The market in which we 
compete is characterized by rapidly advancing technology, frequent introduction of new solutions, and aggressive 
selling efforts, including using significant pricing pressure to displace incumbent vendors and capture market 
share. Competition for sales of networking solutions, including our Networking Platforms and Platform Software 
and Services, is dominated by a small number of very large, multi-national companies. Our competitors include 
Nokia, Huawei (as defined below), Cisco, Juniper Networks, and ZTE. As compared to us, many of these 
competitors have substantially greater financial, operational and marketing resources, significantly broader 
product offerings, and more established relationships with customers. Because of their scale and resources, they 
may be perceived to be a better fit for the procurement or network strategies of larger network operators. We also 
continue to compete with several smaller but established companies that offer one or more products that compete 
directly or indirectly with our offerings or whose products address specific niches within the markets and 
customer segments we address. These competitors include Infinera, Ribbon Communications, Marvell 
Technology Group, and Adtran. We also compete with a number of companies that provide significant 
competition for a specific product, application, service, customer segment, or geographic market. 
We also expect the competition in our industry to continue to broaden and to intensify as network operators 
pursue a diverse range of network strategies and consumption models. As these changes occur, we expect that 
our business will overlap more directly with additional networking solution suppliers, including IP router 
19 

vendors, data center switch providers, and other suppliers or integrators of networking technology traditionally 
geared toward different network applications, layers or functions. We may also face competition from system 
and component vendors, including those in our supply chain, who develop pluggable modem technology or other 
networking products based on off-the-shelf or commoditized hardware technology, particularly where a 
customer’s network strategy seeks to emphasize deployment of such product offerings or the adoption of a 
disaggregated approach to the procurement of hardware and software. As we promote our corporate strategy and 
seek increased customer adoption of our Blue Planet Automation Software, we expect to compete more directly 
with software vendors and traditional IT services vendors. Competitors for our Blue Planet Automation Software 
include Cisco, Nokia, Amdocs, ServiceNow, Netcracker, and Ericsson. 
Across our markets and segments, the principal competitive factors can include, among others: 
•
functionality, speed, capacity, scalability and performance of network solutions; 
•
the ability to meet business needs and drive successful outcomes, including meeting customer 
delivery time requirements; 
•
price for performance, cost per bit and total cost of ownership of network solutions; 
•
incumbency and strength of existing business relationships; 
•
technology roadmap, time-to-market in delivering products and features, and forward innovation 
capacity; 
•
company stability and financial health; 
•
ability to offer solutions that accommodate a range of different consumption models; 
•
operating costs and total cost of ownership; 
•
services and support capabilities; 
•
product security capabilities; and 
•
ability to help customers achieve their sustainability goals. 
Our competitive landscape has been and is likely to continue to be impacted by international trade and 
related matters, in particular between the U.S. and China. For example, in 2019, the U.S. Department of 
Commerce amended the U.S. Export Administration Regulations (“EAR”) by adding Huawei Technologies Co., 
Ltd. (“Huawei”) and certain affiliates to the “Entity List” for actions contrary to the national security and foreign 
policy interests of the U.S., resulting in significant new restrictions on the export, reexport and transfer of U.S. 
regulated technologies and products to Huawei. In 2020, the U.S. Department of Commerce added additional 
Huawei affiliates to the Entity List, confirmed the expiration of a temporary general license applicable to 
Huawei, and amended the foreign direct product rule under the EAR in a manner that significantly expanded its 
application to Huawei. Separately, the U.S. government has taken steps to restrict federal agencies from doing 
business with, and U.S. wireless carriers from using federal subsidies to buy equipment from, Huawei and ZTE. 
The U.S. government has also encouraged other governments to consider similar restrictions. These actions, 
among others, have resulted in escalating tensions between the U.S. and China and retaliation by China, 
including a recent prohibition on export of certain rare minerals, and introduce a risk that the Chinese 
government may take further steps to retaliate against U.S. industries or companies. Trade regulations limiting or 
banning sales into, or purchases from, certain countries or companies have also impacted and may in the future 
impact our ability to transact business in certain countries and with certain customers. In addition, the incoming 
U.S. administration has announced an intent to impose additional tariffs, including tariffs on imports from 
Canada, Mexico, and China. 
20 

Patents, Trademarks and Other Intellectual Property Rights 
The success of our business and technology leadership depends significantly on our proprietary and 
internally developed technology. We rely upon the intellectual property protections afforded by patents, 
copyrights, trademarks, and trade secret laws to establish, maintain, and enforce rights in our proprietary 
technologies and product branding. We regularly file applications for patents, and we have a significant number 
of patents in the United States and other countries in which we do business. As of December 2, 2024, we had 
approximately 2,300 issued patents and more than 700 pending patent applications worldwide. 
Enforcing proprietary rights, especially patents, can be costly, and we cannot be certain that the steps that 
we are taking will detect, prevent, or minimize the risks of all unauthorized use. The industry in which we 
compete is characterized by rapidly changing technology, a large number of patents, and frequent claims and 
related litigation regarding patent and other intellectual property rights. We have been subject to several claims 
related to patent infringement, and we have been requested to indemnify customers pursuant to contractual 
indemnity obligations relating to infringement claims made by third parties. Intellectual property infringement 
assertions could cause us to incur substantial costs, including settlement costs and legal fees in the defense of 
related actions. If we are not successful in defending these claims, our business could be adversely affected. 
Our operating system software, Platform Software, Blue Planet Automation Software, and other solutions 
incorporate software and components under licenses from third parties, including software subject to various 
open source software licenses. Failure to obtain or maintain such licenses or other third-party intellectual 
property rights could affect our development efforts and market opportunities or could require us to re-engineer 
our products or to obtain alternate technologies. Moreover, there is a risk that open source and other technology 
licenses could be construed in a manner that could impose unanticipated conditions or restrictions on our ability 
to commercialize our products. 
Environment and Sustainability 
Our environmental goals have been approved by the Science Based Target initiative and that align our 
decarbonization efforts with the Paris Climate Agreement goal to limit global warming to 1.5 degrees Celsius 
above pre-industrial levels. Our environmental strategy centers on continuing to innovate our products and 
services to help reduce the power, space, and materials required to operate them, engaging our suppliers and 
driving operational efficiencies to reduce our environmental impact, and promoting an employee experience that 
engages our workforce on sustainability. 
Our products and product development efforts pursue power and space improvements aimed to create more 
efficient and sustainable networks for our customers and enabling their climate ambitions. We promote 
environmental sustainability through our efforts to improve the energy efficiency per gigabit of throughput in our 
networking solutions, as well as our initiatives to reduce the total number of network elements required to 
operate a network. We pursue opportunities to minimize the resource impacts in our product design, and to 
manage the life cycle impact of our products, including packaging and distribution, support, and end-of-life 
reuse, refurbishment, and recycling. We voluntarily submit CDP climate change and water disclosures and 
Ecovadis sustainability disclosures annually, and we are a member of the RBA. We seek to ensure that our key 
direct suppliers adopt the standards and principles set forth in the RBA Code of Conduct. 
People and Culture 
Our technology solutions are developed, marketed, sold and supported by our global workforce of 8,657 
employees as of November 2, 2024, over 99% of whom were full-time employees. We have a broad base of 
talent in 39 countries, with approximately 56% in the Americas, 36% in APAC, and 8% in EMEA, the majority 
of whom are in engineering, operations, or sales roles. 
21 

We believe that our industry and innovation leadership is ultimately rooted in people. Competition for 
qualified personnel in the technology space is intense, and our success depends in large part on our ability to 
recruit, develop and retain a productive and engaged workforce. Accordingly, investing in our employees and 
their well-being, offering competitive compensation and benefits, and adopting progressive human capital 
management practices constitute a core element of our corporate strategy. 
Our Board of Directors oversees our corporate strategy, which includes management’s design and execution 
of our “people strategy.” This strategy seeks to ensure that we continue to attract and retain the talent necessary 
to execute on our business plans, and that we have programs, initiatives, rewards and recognition that are well 
aligned and support these goals. Through our “People Promise,” we promote a workplace environment where our 
employees are empowered, feel included, and have an opportunity to make a difference through their work at 
Ciena. In doing so, we seek to cultivate for employees a culture of belonging and happiness, enabling us to be an 
attractive employer of choice within our markets. Our executive team is actively involved in and sponsors key 
initiatives and employee resource groups intended to promote this corporate culture. To that end, our people 
strategy is focused on the following: 
•
Promote a Diverse, Inclusive, and Equitable Culture. We believe inclusivity and diversity contribute to 
business success. We promote an inclusive and diverse workplace, where all individuals are respected 
and feel they belong regardless of their age, race, national origin, gender, religion, disability, sexual 
orientation or gender identity. We do this through recruiting outreach, internal networking and resource 
groups, inclusivity networks, and mentoring programs. We regularly monitor our recruitment process 
in consideration of the diversity of our workforce and candidate pool and continue to offer Conscious 
Inclusion workshops to deepen understanding within our diverse groups. In addition, we support 
multiple active internal networking and resource groups, including our Women at Ciena group, 
Black & African Heritage at Ciena group, LatinX at Ciena group, Asian at Ciena group, Pride at Ciena 
group, Vets at Ciena group, and Next at Ciena early in career group. In fiscal 2023, we continued to run 
a targeted development program aimed at strengthening underrepresented individuals’ sense of 
belonging and enhancing communication, confidence, self-awareness and financial acumen. 
•
Support Employee Wellbeing and Engagement. We prioritize supporting the overall wellbeing of our 
employees and their eligible dependents. We provide a broad and diverse suite of programs that focus 
on physical, mental and emotional, financial and social wellbeing, and have expanded our offerings to 
include a focus on key life events such as aging and retirement readiness. Our wellbeing programs are 
deployed through a variety of means, including expense reimbursement benefits, wellbeing challenges 
and rewards, 24x7 crisis support, employee assistance resources, mental health coaching, and a library 
of resources accessible to participants digitally and through hosted webinars. We regularly seek input 
from employees through employee engagement and pulse surveys on specific issues that are intended 
to assess our degree of success in promoting an environment that supports our People Promise and 
measures our culture of compliance. Our fiscal 2024 employee engagement survey had a participation 
rate of approximately 84% and resulted in an engagement score that exceeded industry benchmarks. 
Our global wellbeing program also includes a long-standing practice of remote and flexible working 
arrangements and flexible paid time off in many of our geographies, which allows us to broaden our 
potential talent pool for employees. 
•
Offer Competitive Compensation and Ensure Pay Equity. We strive to ensure that our employees 
receive competitive, fair and transparent compensation, and progressive benefits offerings. We conduct 
an annual pay equity assessment of gender globally and of ethnicity in the U.S. and take action to 
ensure that we are paying individuals performing similar work equitably. We deploy Syndio’s 
workplace equity platform to fine-tune our methodology and enable regular global pay equity 
assessments. To align performance and stockholder interest, we base our annual incentive 
compensation on both business and individual performance. We maintain an employee stock purchase 
plan, and in recent years we have broadly expanded employee participation in equity compensation, 
particularly within technology roles in engineering and sales, and have increased the percentage of 
22 

employees receiving equity awards from approximately 21% in fiscal 2020 to approximately 50% in 
fiscal 2024. We also offer comprehensive family leave, including global family leave to support 
employees throughout various life stages, carer’s leave, bereavement leave, parental leave that includes 
a minimum of 18 weeks paid time off for new mothers (including eight weeks recovery and ten weeks 
bonding) and ten weeks paid time off for new fathers and adoptive parents, and financial assistance for 
adoptive parents, and offer flexible paid time-off to more than 98% of our workforce globally. We 
offer meaningful retirement benefits, including a recently introduced post-retirement equity vesting 
benefit for long-tenured employees, and programs to promote retirement readiness among our 
employees. In recent years, we have enhanced employer contributions to our North America retirement 
plans, added our first ESG fund option for employees and, as of November 2, 2024, achieved greater 
than 99% participation of eligible employees in the U.S. and Canada in our defined contribution 
retirement plans. 
•
Provide Programs for Employee Recognition. We also offer rewards and recognition programs to our 
employees, including peer and management-initiated awards to recognize employees who achieve 
noteworthy accomplishments and who best exemplify our core values, as well as patent incentive and 
distinguished engineer awards. We believe that providing these recognition programs helps drive 
strong employee performance. 
•
Create Opportunities for Growth and Development. We focus on creating opportunities for employee 
growth, development, training, and education at all career stages. We provide opportunities to cultivate 
talent and identify candidates for new roles from within the Company and deliver early in career and 
new graduate networking and development programs, management and leadership development 
programs, coaching and mentoring programs, and support for continuing education through tuition 
reimbursement. We operate a leadership succession planning process that aims to develop and retain 
key talent and ensure business continuity for key roles. We also recently launched a program to identify 
individuals throughout the organization who have been identified as having high potential for future 
growth and development, so that this earlier in career talent can be nurtured for future leadership roles. 
•
Promote Community Outreach and Support. We believe it is important to give back and promote 
community outreach and support through corporate giving, charitable matching, and employee 
volunteerism in the communities in which we live and work. Through our “Ciena Cares” community 
program, we provide corporate matching of employee charitable donations, flexible volunteering 
during work time, and corporate rewards for service hours that can be donated by employees to their 
charity of choice. Our Digital Inclusion initiative aims to mobilize our global workforce, leverage our 
innovation leadership, and collaborate with customers, suppliers and other partners to help bridge the 
digital divide. Through this initiative, we have funded programs to support underserved students in 
communities across the globe by providing greater connectivity, access to enabling technologies and 
digital skills development. 
•
Promote a Strong Ethical Business Culture. We believe that commitments to good corporate 
governance and the highest ethical standards are essential to our long-term success, and we are 
dedicated to instilling in our employees a commitment to integrity and business ethics. We maintain a 
Code of Business Conduct and Ethics that sets standards of conduct for Ciena’s directors, officers and 
employees. All employees are required to complete training on our Code of Business Conduct and 
Ethics, and we conduct recurring employee affirmations with respect to our Code of Business Conduct 
and Ethics and periodic training and communication related to specific topics contained therein. In 
addition, we maintain a Corporate Compliance Committee that promotes integrity and compliance 
leadership throughout Ciena, and a dedicated function focused exclusively on Compliance and Ethics. 
We also maintain several easily accessible internal and external methods by which our employees, 
business partners, and investors can report concerns relating to the ethical operation of our business, 
including anonymously where permitted. We conduct surveys of all employees on our compliance 
program and culture of integrity in order to assess and strengthen our culture and practices, and 
received feedback from approximately 68% of our employees on these surveys in fiscal 2024. 
23 

Governmental Regulations 
Environmental Matters 
Environmental regulation is increasing across various jurisdictions, and we expect that our domestic and 
international operations may be subject to additional environmental compliance requirements, which could 
require us to incur additional costs. To date, our compliance actions and costs relating to environmental 
regulations have not resulted in a material cost or effect on our capital expenditures, earnings, or competitive 
position. Our business and operations are currently subject to environmental laws in various jurisdictions around 
the world, including the Waste Electrical and Electronic Equipment (“WEEE”) and Restriction of the Use of 
Certain Hazardous Substances in Electrical and Electronic Equipment (“RoHS”) regulations adopted by the EU. 
We are also subject to disclosure and related requirements that apply to the presence of “conflict minerals” in our 
products or supply chain. We seek to operate our business in compliance with applicable laws relating to the 
materials and content of our products and product takeback and recycling, and have programs, policies, and 
customer offerings that help us to address these laws. 
Other Regulations 
As a company with global operations, we are subject to complex foreign and U.S. laws and regulations, 
including trade regulations, tariffs, import and export regulations, anti-bribery and corruption laws, antitrust or 
competition laws, data privacy laws and regulations, such as the European Union (“EU”) General Data Protection 
Regulation (the “GDPR”), cybersecurity laws and regulations, and environmental regulations, among others. We 
have policies and procedures in place to promote compliance with these laws and regulations. To date, our 
compliance actions and costs relating to these laws, rules and regulations have not resulted in a material cost or 
effect on our capital expenditures, earnings or competitive position. Government regulations are subject to 
change and, accordingly, we are unable to assess the possible effect of compliance with future requirements or 
whether our compliance with such regulations will materially impact our business in the future. For further 
discussion of how government regulations may affect our business, see the related discussion in “Risk Factors – 
Risks Related to Intellectual Property, Litigation, Regulation and Government Policy.” 
Access to SEC Reports 
Our website address is www.ciena.com. We make our annual reports on Form 10-K, quarterly reports on 
Form 10-Q, current reports on Form 8-K, and amendments to those reports, available free of charge in the 
“Investors” section of our website as soon as reasonably practicable after we file these reports with the Securities 
and Exchange Commission (the “SEC”). We routinely post these reports, recent news and announcements, 
financial results and other important information about our business on our website at www.ciena.com. 
Information contained on our website is not a part of this annual report. 
Information About Our Executive Officers 
The table below sets forth certain information concerning our executive officers serving as of the filing of 
this annual report: 
Name 
Age 
Position 
Gary B. Smith 
64 
President and Chief Executive Officer 
Joe Cumello 
53 
Senior Vice President and General Manager of Blue Planet 
Dino DiPerna 
63 
Senior Vice President, Global Research & Development 
Brodie Gage 
49 
Senior Vice President, Global Products & Supply Chain 
Sheela Kosaraju 
52 
Senior Vice President and General Counsel, and acting Chief 
People Officer 
James E. Moylan, Jr. 
73 
Senior Vice President and Chief Financial Officer 
Andrew C. Petrik 
61 
Vice President and Controller 
Jason M. Phipps 
52 
Senior Vice President, Global Customer Engagement 
David M. Rothenstein 
56 
Senior Vice President, Chief Strategy Officer and Secretary 
24 

Gary B. Smith joined Ciena in 1997 and has served as President and Chief Executive Officer since 
May 2001. Mr. Smith has served on Ciena’s Board of Directors since October 2000. Prior to his current role, his 
positions with Ciena included Chief Operating Officer and Senior Vice President, Worldwide Sales. Mr. Smith 
previously served as Vice President of Sales and Marketing for INTELSAT and Cray Communications, Inc. 
Mr. Smith previously served on the boards of directors of CommVault Systems, Inc. and Avaya Inc. Mr. Smith 
serves on the Wake Forest University Entrepreneurship Advisory Council, and participates in initiatives with the 
Center for Corporate Innovation. 
Joe Cumello has served as Senior Vice President and General Manager of Blue Planet, a division of Ciena, 
since January 2023. Mr. Cumello is responsible for managing Ciena’s Blue Planet Automation Software and 
Services portfolio. From November 2020 to January 2023, Mr. Cumello served as Ciena’s Senior Vice President, 
Global Marketing & Communications, from February 2017 to November 2020 served as Vice President, Global 
Marketing and Partners, and from August 2015 to February 2017 served as Vice President, Portfolio Marketing. 
Mr. Cumello initially joined Ciena in 2004 through our acquisition of Internet Photonics. Following that, he held 
executive roles at Sidera Networks and SafeNet. He then joined Cyan, Inc. in 2013, where he served as Chief 
Marketing Officer, before rejoining Ciena in 2015 through our acquisition of Cyan, Inc. 
Dino DiPerna joined Ciena in 2010 through our acquisition of Nortel’s optical business and has served as 
Senior Vice President of Global Research and Development since October 2023, in which capacity he is 
responsible for directing the development of Ciena’s portfolio of Optical Networking, Network Control and 
Planning, and Routing and Switching products and solutions. From August 2013 to October 2023, Mr. DiPerna 
served as Ciena’s Vice President, Converged Packet Optical Research & Development, and from March 2010 to 
July 2013, served as Vice President, Optical Networks Research & Development. Prior to joining Ciena, 
Mr. DiPerna held senior engineering roles at Nortel for more than two decades. 
Brodie Gage joined Ciena in 2010 through our acquisition of Nortel’s optical business and has served as 
Senior Vice President of Global Products and Supply Chain since October 2023, in which capacity he oversees 
functions including Product Line Management, Global Supply Chain, and Solutions, Engineering, and 
Introduction. From November 2017 to October 2023, Mr. Gage served as Ciena’s Vice President of Product Line 
Management and Solutions. Prior to joining Ciena, Mr. Gage held global leadership roles across engineering, 
marketing, business development, and product line management at Nortel. 
Sheela Kosaraju joined Ciena in 2010 and has served as Senior Vice President and General Counsel since 
January 2023, and as acting Chief People Officer since August 2023. From August 2020 to January 2023, 
Ms. Kosaraju served as Vice President, Deputy General Counsel and Head of International Legal, from May 
2017 to August 2020 served as Vice President, International General Counsel. Prior to joining Ciena, 
Ms. Kosaraju served as general counsel for two early-stage companies, HomeCom Communications and 
Closedloop Solutions. 
James E. Moylan, Jr. joined Ciena in 2007 and has served as Senior Vice President and Chief Financial 
Officer since December 2007. 
Andrew C. Petrik joined Ciena in 1996 and has served as Vice President, Controller since August 1997. He 
also served as Treasurer from August 1997 to October 2008. Effective immediately following the filing of this 
annual report, Mr. Petrik will cease to be an executive officer, but he will remain an employee of Ciena pending 
his previously announced April 2025 retirement. 
Jason M. Phipps joined Ciena in 2002 and has served as Senior Vice President, Global Customer 
Engagement (formerly titled Senior Vice President, Global Sales and Marketing) since February 2017, in which 
capacity he is responsible for Ciena’s global sales, systems engineering, services, and partner organization. From 
January 2014 to February 2017, Mr. Phipps served as Vice President and General Manager, North America 
Sales, during which time he also oversaw the Global Partners & Channels practice, and from March 2011 to 
25 

December 2013 he served as Vice President, Global Sales Operations. Mr. Phipps has also previously held a 
number of sales and marketing leadership positions with Ciena. 
David M. Rothenstein joined Ciena in January 2001 and, after serving as acting Chief Strategy Officer since 
March 2022, has served as Senior Vice President and Chief Strategy Officer since January 2023. From 
November 2008 to January 2023, he served as Senior Vice President, General Counsel and Secretary. Prior to 
that, he served as Vice President and Associate General Counsel from July 2004 to October 2008 and previously 
as Assistant General Counsel. 
Item 1A. Risk Factors 
Investing in our securities involves a high degree of risk. In addition to the other information contained in 
this annual report, you should consider the following risk factors before investing in our securities. 
Risks Related to Our Business and Industry 
Our revenue, gross margin, and operating results can fluctuate significantly from quarter to quarter and, 
if we are not able to secure order growth, our revenue may not reach the levels we anticipate. 
Our revenue, gross margin, and results of operations can fluctuate significantly from quarter to quarter. Our 
budgeted expense levels are based on our intent to invest to maintain or increase our technology advantage, our 
visibility into customer spending plans, and our projections of future revenue and gross margin. Visibility into 
customer spending levels can be uncertain, spending patterns are subject to change, and reductions in our 
expense levels can take significant time to implement. Historically, a significant portion of our quarterly revenue 
was generated from customer orders received during that same quarter (which we refer to as “book to revenue”) 
and was therefore less predictable and subject to fluctuation due to a quarterly shortfall in orders from 
expectations. During fiscal 2022, however, we generated a significant backlog of customer orders as a result of 
supply chain constraints and, during fiscal 2023, our revenue grew as we consumed a significant portion of this 
backlog. Customer order volumes began to moderate in the fourth quarter of fiscal 2022, and we experienced 
order levels below revenue during fiscal 2023 and the first half of fiscal 2024 and, as a result, our backlog 
decreased. We expect our backlog to continue to reduce in fiscal 2025. As that happens, we expect our reliance 
upon securing quarterly book to revenue orders to grow and those orders to represent a more typical composition 
of our quarterly revenue over time. Our future revenue growth will depend, in part, on securing increased orders, 
particularly book to revenue orders. 
Within these dynamics, our results for a particular period can be difficult to predict and a range of factors, 
including those set forth below, can materially adversely affect quarterly revenue, gross margin, and operating 
results: 
•
changes in spending levels or network deployment plans by customers, particularly with respect to our 
service provider and cloud provider customers; 
•
order timing and volume, including book to revenue orders; 
•
the timing of revenue recognition on sales, particularly relating to large orders; 
•
availability of components and manufacturing capacity; 
•
shipment and delivery timing, including any deferral of delivery; 
•
backlog levels; 
•
the level of competition and pricing pressure in our industry; 
•
the pace and impact of price erosion that we regularly encounter in our markets; 
•
the impact of commercial concessions or unfavorable commercial terms required to maintain 
incumbency or secure new opportunities with key customers; 
26 

•
the mix of revenue by product segment, geography, and customer in any particular quarter; 
•
our level of success in achieving targeted cost reductions and improved efficiencies in our supply 
chain; 
•
our incurrence of start-up costs, including lower margin phases of projects required to support initial 
deployments, to gain new customers, or to enter new markets; 
•
our level of success in accessing new markets and obtaining new customers; 
•
long- and short-term changing behaviors or customer needs that impact demand for our products and 
services, or the products and services of our customers; 
•
technology-based price compression and our introduction of new platforms with improved price for 
performance; 
•
changing market, economic, and political conditions, including the impact of tariffs and other trade 
restrictions or efforts to withdraw from or materially modify international trade agreements; 
•
factors beyond our control such as natural disasters, climate change, acts of war or terrorism, and 
public health emergencies, such as epidemics and pandemics like the COVID-19 pandemic; 
•
the financial stability of our customers and suppliers; 
•
consolidation activity among our customers, suppliers, and competitors; 
•
installation service availability and readiness of customer sites; 
•
adverse impact of foreign exchange; and 
•
any potential seasonal effects in our business. 
As a result of these factors and other conditions affecting our business and operating results, we believe that 
quarterly comparisons of our operating results are not necessarily a good indication of future performance. 
Quarterly fluctuations from the above and other factors may cause our revenue, gross margin, and results of 
operations to underperform in relation to our guidance, long-term financial targets or the expectations of financial 
analysts or investors, which may cause volatility or decreases in our stock price. 
A small number of customers account for a significant portion of our revenue. The loss of one or more of 
these customers, or a significant reduction in their spending, could have a material adverse effect on our 
business and results of operations. 
A significant portion of our revenue is concentrated among a small number of communications service 
provider and cloud provider customers. For example, our ten largest customers contributed 57.9% of our revenue 
for fiscal 2024 and 53.7% of our revenue for fiscal 2023. A cloud provider customer accounted for 
approximately 13.3% of our total revenue for fiscal 2024 and 12.8% of our total revenue for fiscal 2023, and 
AT&T accounted for approximately 11.8% of our total revenue for fiscal 2024 and 10.6% of our total revenue 
for fiscal 2023. As a result of efforts in recent years to diversify our business, the customer segments and 
geographies that comprise our customer base and top customers by revenue have changed. During fiscal 2024, 
four cloud providers were among our top ten customers. Cloud provider customers have been important 
contributors to our revenue through both our direct sales to them, including for data center interconnection, and 
their indirect impact on purchases by other network operators. 
Because of our concentration of revenue with communications service providers and cloud providers, our 
business and results of operations can be significantly affected by market, industry, regulatory, consolidation or 
competitive dynamics adversely affecting these customer segments. These dynamics have in the past had an 
adverse effect on network spending levels by certain of our largest customers and they could materially adversely 
affect our business and results of operations. Consequently, our financial results and our ability to grow our 
27 

business are closely correlated with the spending of a relatively small number of customers. Our business and 
results of operations could be materially adversely impacted by the loss of a large customer within or outside of 
these customer segments as well as by reductions in spending or capital expenditure budgets, changes in network 
deployment plans, or changes in consumption models for acquiring networking solutions by our largest 
customers. 
We face intense competition that could impact our sales and results of operations. We expect our 
competitive landscape to continue to broaden as we seek to expand our addressable market and solutions 
portfolio. 
We face intense global competition on a global basis, as we and our competitors aggressively seek to 
capture market share and displace incumbent equipment vendors. Our industry has historically been dominated 
by a small number of very large vendors, some of which have substantially greater financial, marketing and 
research and development resources, broader product offerings and more established relationships with service 
providers and other customer segments than we do. Moreover, acquisition activity among our competitors and 
peers has increased. For example, in 2024 Nokia announced its proposed acquisition of Infinera. Consolidation in 
our industry may result in competitors with greater resources, pricing flexibility, or other competitive benefits. 
We also compete with a number of smaller companies that provide significant competition for specific products, 
applications, customer segments or geographic markets. Due to the narrower focus of their efforts, these 
competitors may be more attractive to customers in a particular product niche or commercial opportunity. 
Generally, competition in our markets is based on any one or a combination of the following factors: 
•
functionality, speed, capacity, scalability and performance of network solutions; 
•
the ability to meet business needs and drive successful outcomes, including meeting customer delivery 
time requirements; 
•
price for performance, cost per bit and total cost of ownership of network solutions; 
•
incumbency and strength of existing business relationships; 
•
technology roadmap and forward innovation capacity, including the ability to invest significant sums in 
research and development; 
•
time-to-market in delivering products and features; 
•
company stability and financial health; 
•
ability to offer comprehensive networking solutions, consisting of hardware, software and services; 
•
flexibility and openness of platforms, including ease of integration, interoperability and integrated 
management; 
•
ability to offer solutions that accommodate a range of different consumption models; 
•
operating costs and total cost of ownership; 
•
software and network automation capabilities; 
•
ability to manage challenging supply chain environments, including manufacturing and lead-time 
capability; 
•
services and support capabilities; 
•
security of enterprise, product development, support processes, and products; 
•
space requirements and power consumption of network solutions; and 
•
ability to offer solutions that help customers manage the lifecycle impacts of their networks and 
achieve their sustainability goals. 
28 

We expect the competition in our industry to continue to broaden and to intensify, particularly as we seek to 
expand our addressable market opportunities, and as network operators pursue a diverse range of network 
strategies, sourcing practices and consumption models. An increase in the breadth or intensity of competition we 
face may adversely impact our business and results of operations. 
Our failure to invest in the right technologies or to get an adequate return on such research and 
development investment could adversely affect our revenue and profitability. 
The market for communications networking hardware and software solutions is characterized by rapidly 
evolving technologies, changes in market demand and increasing adoption of software-based networking 
solutions. We continually invest in research and development to sustain or enhance our solutions and to develop 
or acquire new technologies. There is often a lengthy period between commencing these development initiatives 
and bringing solutions to market. Accordingly, there is no guarantee that our new products or product 
enhancements will achieve market acceptance or that the timing of market adoption will be as predicted. As a 
general matter, there is a significant possibility that some of our development decisions, including significant 
expenditures on acquisitions, research and development, or investments in technologies, will not meet our 
expectations, and that our investment in some projects will be unprofitable. There is also a possibility that we 
may miss a market opportunity because we failed to invest or invested too late in a technology, product or 
enhancement sought by our customers or the markets into which we sell. Changes in market demand or 
investment priorities may also cause us to discontinue development for new products or features, which can have 
a disruptive effect on our relationships with customers. In addition, failure to develop new, innovative solutions 
that are attractive to customers and profitable to us could have a material adverse effect on our business, results 
of operations, financial condition and cash flows. 
We have no guaranteed purchases and regularly must re-win business with existing customers. 
Generally, our customer contracts do not require customers to purchase any minimum or guaranteed 
volumes, and we conduct sales through framework contracts under which customers place purchase orders for 
which they often have the right to modify or cancel. We must regularly compete for and win business with 
existing customers across all of our customer segments. In addition, cloud providers tend to operate on shorter 
procurement cycles than some of our traditional customers, which can require us to compete to re-win business 
with these customers more frequently than required with other customers segments. Accordingly, there is no 
assurance that we will maintain our incumbency with any given customer or that our revenue levels from a 
customer in a particular period can be achieved in future periods. Customer spending levels can be unpredictable, 
and our sales to any customer could significantly decrease or cease at any time. 
Network equipment sales often involve lengthy sales cycles and protracted contract negotiations that may 
require us to agree to commercial terms or conditions that negatively affect pricing, risk allocation, 
payment and the timing of revenue recognition. 
Our sales efforts, particularly with communications service providers, cloud providers and other large 
customers, often involve lengthy sales cycles. These selling efforts often involve a significant commitment of 
time and resources that may include extensive product testing, laboratory or network certification, network or 
region-specific product certification and homologation requirements for deployment in networks. Even after a 
customer awards its business to us or decides to purchase our solutions, the length of time before deployment can 
vary depending on the customer’s schedule, site readiness, the size of the network deployment, the degree of 
custom configuration required and other factors. Additionally, these sales also often involve protracted and 
sometimes difficult contract negotiations in which we may deem it necessary to agree to unfavorable contractual 
or commercial terms that adversely affect pricing, expose us to penalties for delays or non-performance, and 
require us to assume a disproportionate amount of risk. To maintain incumbency with key customers, we have in 
the past and may in the future be required to offer discounted pricing, make commercial concessions or offer less 
favorable terms as compared to our historical business arrangements with these customers. We may also be 
29 

requested to provide deferred payment terms, vendor or third-party financing or other alternative purchase 
structures that extend the timing of payment. Alternatively, customers may insist on terms and conditions that we 
deem too onerous or not in our best interest, and we may be unable to reach a commercial agreement. As a result, 
we may incur substantial expense and devote time and resources to potential sales opportunities that never 
materialize or result in lower than anticipated sales and gross margin. 
Accurately matching necessary inventory levels to customer demand within the current environment is 
challenging, and we may incur additional costs or be required to write off significant inventory that would 
adversely impact our results of operations. 
From the second quarter of fiscal 2021 through the third quarter of fiscal 2022, we received unprecedented 
orders for our products and services, during a period when the supply environment was constrained. We took a 
number of steps to mitigate these challenges, including extending our purchase commitments and placing 
non-cancellable, advanced orders with or through suppliers, particularly for long lead-time components. As of 
November 2, 2024, we had $1.7 billion in outstanding purchase order commitments to our contract 
manufacturers and component suppliers for inventory. We also expanded our manufacturing capacity and 
accumulated available raw materials inventory to prepare us to be able to produce finished goods more quickly as 
supply constraints eased for those components in shorter supply. As a result of this strategy, our inventory 
increased from $374.3 million at the end of fiscal 2021 to $1.1 billion at the end of fiscal 2023. While our 
inventory reduced to $820.4 million at the end of fiscal 2024, these inventory practices and their associated costs 
have had, and could in the future continue to have, an adverse impact on our cash from operations. 
These inventory practices, particularly when considered in the context of our backlog, further introduce 
obsolescence risk that can impact our results of operations and financial condition. In addition, during fiscal 2023 
and fiscal 2024, certain customers, including communications service providers and cable and multiservice 
operators in North America, that had earlier placed significant advanced orders, rescheduled deliveries for or 
cancelled a portion of such orders. Accordingly, our inventory needs for a particular period can fluctuate and be 
difficult to predict. If our customers were to cancel or delay orders for extended periods, inventory could become 
obsolete, and we could be required to write off or write down the inventory associated with those orders. In 
addition, if customers were to cancel or delay existing or forecasted orders for which we have significant 
outstanding commitments to our contract manufacturers or suppliers, we may be required to purchase inventory 
under these commitments that we are unable to sell. If we are required to write off or write down a significant 
amount of inventory, our results of operations for the applicable period would be materially adversely affected. 
For example, we recorded charges for excess and obsolete inventory of $77.3 million, $29.5 million and 
$16.2 million in fiscal 2024, 2023 and 2022, respectively, primarily related to a decrease in the forecasted 
demand for certain Networking Platforms products primarily sold to communications service providers. Our 
inability to effectively manage the matching of inventory with customer demand, particularly within any supply 
constrained environment, could adversely impact our results of operations and financial condition, and could 
result in loss of revenue, increased costs, or delays that could adversely impact customer satisfaction. 
If we are unable to adapt our business and solutions offerings to the evolving consumption models of our 
customers, our competitive position and results of operations could be adversely affected. 
Growing bandwidth demands and network operator efforts to reduce costs are resulting in a diverse range of 
approaches to the design and procurement of network infrastructure. We refer to these different approaches as 
“consumption models.” These consumption models can include: the traditional systems procurement of fully 
integrated solutions including acquiring hardware, software and services from the same vendor; the procurement 
of a fully integrated hardware solution from one vendor with the separate use of a network operator’s own 
software-denied network-based controller; the procurement of an integrated photonic line system with open 
interfaces from one vendor and the separate or “disaggregated” procurement of modem technology from a 
different vendor; or the development and use of published reference designs and open source specifications for 
the procurement of “white box” hardware to be used with open source software. In parallel, network operators 
30 

are also exploring procurement alternatives for software solutions, ranging from integrated and proprietary 
software platforms to fully open source software. Some network operators are pursuing the deployment of 
smaller form factor, pluggable modem technology, particularly within switching and routing solutions, as an 
alternative to integrated optical networking platforms. Other network operators, including certain of our cloud 
provider customers, are playing a leading role in the transition to software-defined networking, the 
standardization of communications network solutions and the assembly of their own hardware platforms based 
on enabling third-party components. We believe that the potential for different approaches to the procurement of 
networking infrastructure will require network operators and vendors to evolve and broaden their existing 
solutions and commercial models over time. If we are unable to adapt our business to these new consumption 
models and offer attractive solutions and commercial models that meet our customers’ needs, our competitive 
position and results of operations could be adversely affected. 
As we introduce technologies that enable us to enter into new markets, we may experience difficulty 
monetizing these new solutions and be exposed to increased or new forms of competition. 
A key part of our strategy is to expand our addressable market into complementary and adjacent network 
applications by investing in new technologies, including solutions related to data center, PON, routing and 
switching, and automation software and services. As we do so, we expect to compete more directly with a 
broader range of suppliers, including IP router vendors, component vendors, software vendors, and integrators of 
networking technology. We have a limited history in commercializing and selling these solutions and the market 
and competitive landscape for them is dynamic, and it is difficult to predict important trends, including the 
potential growth, if any, of certain of these markets. If the markets relating to these solutions do not develop as 
we anticipate, or if we are unable to commercialize, increase market awareness of, or gain adoption of our 
solutions within those markets, revenue from these products may not grow, a key part of our strategy for growth 
would be adversely affected and our financial results may suffer. 
Our go-to-market activities and the distribution of our WaveLogic coherent modem technology within the 
market for high-performance transceivers/modems could expose us to increased competition and poses 
other risks that could adversely affect our existing systems business or results of operations. 
To expand our addressable market and address a range of customer consumption models, we recently 
entered the market for high-performance transceivers/modems. Making our critical coherent optical technology 
available in this manner could adversely impact the sale of products in our existing systems business. For 
example, our customers may choose to adopt disaggregated consumption models or third-party solutions that 
embed Ciena-designed optical modules instead of purchasing systems-based solutions directly from us. 
Accordingly, we may encounter situations where we are competing for opportunities in the market directly 
against a system from one of our competitors that incorporates Ciena-designed modules or other component 
technologies. Making this key technology available and enabling third-party sales of Ciena-designed modules 
may adversely affect our competitive position and increase the risk that third parties misappropriate or attempt to 
use our technology or related intellectual property without our authorization. These and other risks, unanticipated 
liabilities, or costs associated with the sales of our WaveLogic coherent technology could harm our reputation 
and adversely affect our business and our results of operations. 
Supply chain challenges and constraints, including for semiconductor components, could adversely impact 
our growth, gross margins and financial results. 
In the face of demand across a range of industries, global supply for certain raw materials and components, 
including, in particular, semiconductor, integrated circuits, and other electronic components used in most of our 
products, experienced substantial constraint and disruption in recent prior periods. As a result, we experienced 
significant component shortages, extended lead times, increased costs, and unexpected cancellation or delay of 
previously committed supply of key components across our supplier base. While reliability of supply has 
improved, extended lead times and elevated component costs could continue to adversely impact our revenue, 
31 

our cost of goods sold, and our ability to reduce the cost to produce our products in a manner consistent with 
prior periods. It is unclear when the supply environment will fully stabilize, and there can be no assurance that 
we will not experience similar supply challenges or constraints in future periods. These challenges have affected, 
and could adversely affect, component availability, lead times and cost, which can adversely impact our revenue 
and have an impact on customer purchasing decisions. Supply chain challenges could also impact customer 
satisfaction or future business opportunities with customers, and result in increased use of cash, engineering 
design changes, and delays in new product introductions, each of which could adversely impact our business and 
financial results. 
Our exposure to the credit risks of our customers and resellers may make it difficult to collect receivables 
and could adversely affect our revenue and operating results. 
In the course of our sales to customers and resale channel partners, we may have difficulty collecting 
receivables, and our business and results of operations could be exposed to risks associated with uncollectible 
accounts. Lack of liquidity in the capital markets, macroeconomic weakness and market volatility may increase 
our exposure to these credit risks. Our attempts to monitor customer payment capability and to take appropriate 
measures to protect ourselves may not be sufficient, and it is possible that we may have to write down or write 
off accounts receivable. Such write-downs or write-offs could negatively affect our operating results for the 
period in which they occur, and, if large, could have a material adverse effect on our revenue and operating 
results. 
We may be required to write down the value of certain significant assets, which would adversely affect our 
operating results. 
We have a number of significant assets on our balance sheet as of November 2, 2024, the value of which 
can be adversely impacted by factors related to our business and operating performance, as well as factors 
outside of our control. As of November 2, 2024, our balance sheet includes a net deferred tax asset 
of $885.9 million. The value of our net deferred tax assets can be significantly impacted by changes in tax policy, 
changes in future tax rates, or by our tax planning strategy. If any write-downs are required, our operating results 
may be materially adversely affected. 
As of November 2, 2024, our balance sheet also includes $444.7 million of goodwill. We test each reporting 
unit for impairment of goodwill on an annual basis and between annual tests, if an event occurs or circumstances 
change that would, more likely than not, reduce the fair value of the reporting unit below its carrying value. As of 
November 2, 2024, our balance sheet also includes $608.1 million in long-lived assets, which includes 
$165.0 million of intangible assets. Valuation of our long-lived assets requires us to make assumptions about 
future sales prices and sales volumes for our products. These assumptions are used to forecast future, 
undiscounted cash flows on which our estimates are based. If market conditions or our forecasts for our business 
or any particular operating segment change, we may be required to reassess the value of these assets. We could 
be required to record an impairment charge against our goodwill and long-lived assets or a valuation allowance 
against our deferred tax assets. Any write-down of the value of these significant assets would have the effect of 
decreasing our earnings or increasing our losses in such period. If we are required to take a substantial write-
down or charge, our operating results would be materially adversely affected in such period. 
Problems affecting the performance, interoperability, reliability or security of our products could damage 
our business reputation and negatively affect our results of operations. 
The development and production of sophisticated hardware and software for communications network 
equipment is highly complex. Some of our products can be fully tested only when deployed in communications 
networks or when carrying traffic, and software products may contain bugs that can interfere with expected 
performance. As a result, undetected defects or problems affecting quality, interoperability, reliability, security 
and performance are often more acute for initial deployments of new products or enhancements. We have 
32 

recently launched, or are in the process of launching, a number of new hardware and software offerings, 
including new evolutions of our WaveLogic coherent optical modem technology and new Routing and Switching 
platforms. Unanticipated product performance problems can relate to the design, manufacturing, installation, 
operation and interoperability of our products. Undetected errors can also arise as a result of defects in third-party 
technologies, components or software, including open source software, or manufacturing, installation or 
maintenance services supplied by third parties. The introduction of new and complex technologies, such as AI, 
can also increase security risks and the risk of defects. From time to time, we have had to replace certain 
components, provide software remedies or other remediation in response to defects or bugs, and we may have to 
do so again in the future. Such remediation costs could materially adversely impact our business and results of 
operations. In addition, we have encountered and may continue to encounter unanticipated security 
vulnerabilities relating to our technology, including as a result of the activities of our supply chain and our use of 
third-party software. Communications technologies, given their capability to transmit sensitive information, have 
frequently been the target of attacks from a range of threat actors including nation states and other malicious 
parties. Any actual or perceived exposure of our solutions to vulnerabilities, malicious software or cyber-attacks, 
as well as any product performance, reliability, security and quality problems, may result in some or all of the 
following effects: 
•
damage to our reputation, reduced demand, declining sales and order cancellations; 
•
increased costs to remediate defects or replace products; 
•
payment of liquidated damages, contractual or similar penalties, or other claims for performance 
failures or delays; 
•
write-offs of inventory or property; 
•
increased warranty expense or estimates resulting from higher failure rates, additional field service 
obligations or other rework costs related to defects; 
•
regulatory enforcement penalties or settlements; 
•
higher charges for increased inventory obsolescence; 
•
disruption to the operation of our network operator customers; 
•
reporting and other publication to customers or regulatory bodies; 
•
costs, liabilities and claims that may not be covered by insurance coverage or recoverable from third 
parties; and 
•
delays in introducing new products and services, recognizing revenue, or collecting accounts 
receivable. 
These and other consequences could negatively affect our business and results of operations. 
Strategic acquisitions and investments could disrupt our operations and may expose us to increased costs 
and unexpected liabilities. 
From time to time, we acquire or make investments in other technology companies, or enter into other 
strategic relationships, to expand the markets we address, diversify our customer base or acquire, or accelerate 
the development of, technology or products. To do so, we may use cash, issue equity that could dilute our current 
stockholders, or incur debt or assume indebtedness. Strategic transactions can involve numerous additional risks, 
including: 
•
failure to consummate or delay in consummating such transactions; 
•
failure to achieve the anticipated transaction benefits or the projected financial results and operational 
synergies; 
33 

•
greater than expected acquisition and integration costs; 
•
disruption due to the integration and rationalization of operations, products, technologies and 
personnel; 
•
diversion of management attention; 
•
difficulty completing projects of the acquired company and costs related to in-process projects; 
•
difficulty managing customer transitions or entering into new markets; 
•
the loss of key employees; 
•
disruption or termination of business relationships with customers, suppliers, vendors, landlords, 
licensors and other business partners; 
•
ineffective internal controls over financial reporting; 
•
dependence on unfamiliar suppliers or manufacturers; 
•
assumption of or exposure to unanticipated liabilities, including intellectual property infringement or 
other legal claims; and 
•
adverse tax or accounting impact. 
As a result of these and other risks, our acquisitions, investments or strategic transactions may not realize the 
intended benefits and may ultimately have a negative impact on our business, results of operation and financial 
condition. 
Emerging issues related to the development and use of AI could give rise to legal or regulatory action, 
damage our reputation, or otherwise materially harm of our business. 
Our development and use of AI technology in our products and operations remains in the early phases. 
While we aim to develop and use AI responsibly and attempt to mitigate ethical and legal issues presented by its 
use, we may ultimately be unsuccessful in identifying or resolving issues before they arise. AI technologies are 
complex and rapidly evolving, and the technologies that we develop or use may ultimately be flawed. Moreover, 
AI technology is subject to rapidly evolving domestic and international laws and regulations, which could impose 
significant costs and obligations on the Company. For example, in 2023 the U.S. government issued an executive 
order on safe, secure and trustworthy AI, and the EU’s Artificial Intelligence Act, which establishes EU-wide 
rules on data quality, transparency, human oversight and accountability with respect to the use of AI, was enacted 
in August 2024. Emerging regulations may also pertain to data privacy, data protection, and the ethical use of AI, 
as well as clarifying intellectual property considerations. Our use of AI could give rise to legal or regulatory 
action or increased scrutiny or liability, and may damage our reputation or otherwise materially harm our 
business. 
Risks Relating to the Macroeconomic Environment and our Global Presence 
Our business and operating results could be adversely affected by unfavorable changes in macroeconomic 
and market conditions and any reduction in the level of customer spending in response. 
Our business and operating results depend significantly on general market and economic conditions. Market 
volatility and weakness in the regions in which we operate have previously resulted in sustained periods of 
decreased demand that have adversely affected our operating results. The current global macroeconomic 
environment is volatile and continues to be significantly and adversely impacted by inflation, geopolitical trends 
impacting global supply chains, and a dynamic environment for customer spending. Market conditions could also 
be adversely affected by a variety of political, economic or other factors in the United States and international 
markets that could in turn adversely affect spending levels of our customers and their end users, and could create 
volatility or deteriorating conditions in the markets in which we operate. Due to our concentration of revenue in 
34 

the United States, we would expect to incur a more significant impact from any adverse change in the capital 
spending environment or market weakness in the United States. Macroeconomic uncertainty or weakness could 
result in: 
•
reductions in customer spending and delay, deferral or cancellation of network infrastructure 
initiatives; 
•
increased competition for fewer network projects and sales opportunities; 
•
increased pricing pressure that may adversely affect revenue, gross margin and profitability; 
•
decreased ability to forecast operating results and make decisions about budgeting, planning and future 
investments; 
•
increased overhead and production costs as a percentage of revenue; 
•
tightening of credit markets needed to fund capital expenditures by us or our customers; 
•
customer financial difficulty, including order cancellations, delivery deferrals, longer collection cycles 
and difficulties collecting accounts receivable or write-offs of receivables; 
•
business and financial difficulties faced by our suppliers or other partners, including impacts to 
material costs, sales, liquidity levels, ability to continue investing in their businesses, ability to import 
or export goods, ability to meet development commitments and manufacturing capability; and 
•
increased risk of charges relating to excess and obsolete inventories and the write-off of other 
intangible assets. 
Reductions in customer spending in response to unfavorable or uncertain macroeconomic and market conditions, 
globally or in a particular region where we operate, would adversely affect our business, results of operations and 
financial condition. 
The international scale of our sales and operations exposes us to additional risk and expense that could 
adversely affect our results of operations. 
We market, sell and service our products globally, maintain personnel in numerous countries, and rely on a 
global supply chain for sourcing important components and manufacturing our products. Our international sales 
and operations are subject to inherent risks, including: 
•
adverse social, political and economic conditions, such as continued inflation and rising interest rates; 
•
effects of adverse changes in currency exchange rates; 
•
greater difficulty in collecting accounts receivable and longer collection periods; 
•
difficulty and cost of staffing and managing foreign operations; 
•
higher incidence and risk of corruption or unethical business practices; 
•
less protection for intellectual property rights in some countries; 
•
tax and customs changes that adversely impact our global sourcing strategy, manufacturing practices, 
transfer-pricing, or competitiveness of our products for global sales; 
•
compliance with certain testing, homologation or customization of products to conform to local 
standards; 
•
significant changes to free trade agreements, trade protection measures, tariffs and other import 
measures, such as those proposed by the incoming U.S. administration, export compliance, economic 
sanctions measures, domestic preference procurement requirements, qualification to transact business 
and additional regulatory requirements; 
•
natural disasters and severe weather events (including related to climate change), acts of war or 
terrorism, and public health emergencies or pandemics; and 
35 

•
uncertain economic, legal and geopolitical conditions in Europe, Asia and other regions where we do 
business, including, for example, as a result of continued impacts of Brexit on the relationship between 
the United Kingdom and Europe, the ongoing military conflicts between both Russia and Ukraine and 
Israel and groups based in surrounding regions, including related maritime impacts in the Red Sea, and 
changes in China-Taiwan and U.S.-China relations. 
We utilize a sourcing strategy that emphasizes global procurement of materials, and that has direct or 
indirect dependencies upon a number of vendors with operations in the Asia-Pacific region. Our international 
operations are subject to complex foreign and U.S. laws and regulations, including trade regulations, anti-bribery 
and corruption laws, antitrust or competition laws, and data privacy laws, such as the GDPR, among others. In 
particular, recent years have seen a substantial increase in anti-bribery law enforcement activity by U.S. 
regulators, and we currently operate and seek to operate in many parts of the world that are recognized or 
perceived as having greater potential for corruption. Violations of any of these laws and regulations could result 
in fines and penalties, criminal sanctions against us or our employees, prohibitions on the conduct of our business 
and on our ability to offer our products and services in certain geographies, and significant harm to our business 
reputation. Our policies and procedures to promote compliance with these laws and regulations and, to mitigate 
these risks, may not protect us from all acts committed by our employees or third-party vendors, including 
contractors, agents and services partners or from the misinterpretation or changing application of such laws. 
Additionally, the costs of complying with these laws (including the costs of investigations, auditing and 
monitoring) could adversely affect our current or future business. 
Our business, operations and financial results could also be adversely impacted by instability, disruption or 
destruction in a significant geographic region, including as a result of war, terrorism, riot, civil insurrection or 
social unrest; natural or man-made disasters; severe weather events; public health emergencies; or economic 
instability or weakness. For example, in February 2022, armed conflict escalated between Russia and Ukraine. 
The United States and certain other countries have imposed sanctions on Russia (and Belarus for its support of 
Russia) and could impose further sanctions, which could damage or disrupt international commerce and the 
global economy. We are complying with a broad range of U.S. and international sanctions and export control 
requirements imposed on Russia and, in March 2022, we announced our decision to suspend our business 
operations in Russia. Although this decision did not materially impact our results of operations for fiscal 2022 or 
2023 due to the limited amount of business that we conducted in Russia historically, it is not possible to predict 
the broader or longer-term consequences of this conflict, which could include further sanctions, export control 
and import restrictions, embargoes, regional instability, geopolitical shifts and adverse effects on macroeconomic 
conditions, security conditions, currency exchange rates and financial markets. In addition, the conflict between 
Israel and groups based in surrounding regions, and related regional impacts have resulted in damage to 
submarine cables in the Red Sea and disruption of networks using those cables, which could impact future 
projects by our customers in this region. Such geopolitical instability and uncertainty could have a negative 
impact on our ability to sell to, ship products to, collect payments from, and support customers in certain 
countries and regions based on trade restrictions, sanctions, embargoes and export control law restrictions, and 
logistics restrictions including closures of air space, and could increase the costs, risks and adverse impacts from 
supply chain and logistics challenges. 
The success of our International sales and operations will depend, in large part, on our ability to anticipate 
and manage these risks effectively. Our failure to manage any of these risks could harm our international 
operations, reduce our international sales, and could give rise to liabilities, costs or other business difficulties that 
could adversely affect our operations and financial results. 
Efforts to increase our sales and capture market share in targeted international markets may be 
unsuccessful. 
Part of our business and growth strategy is to expand our geographic reach and increase market share in 
international markets through a combination of direct and indirect sales resources. We are also aggressively 
36 

pursuing opportunities with service provider customers in additional geographies, including in Africa, the Middle 
East, and South Asia. This diversification of our markets and customer base has been a significant component of 
the growth of our business in recent years. Our efforts to continue to increase our sales and capture market share 
in international markets may ultimately be unsuccessful or may adversely impact our financial results, including 
our gross margin. Our failure to continue to increase our sales and market share in international markets could 
limit our growth and could harm our results of operations. 
We may be adversely affected by fluctuations in currency exchange rates. 
As a company with global operations, we face exposure to movements in foreign currency exchange rates. 
Due to our global presence, a portion of our revenue, operating expense and assets and liabilities are non-U.S. 
Dollar denominated and therefore subject to foreign currency fluctuation. We face exposure to currency 
exchange rates as a result of the growth in our non-U.S. Dollar denominated operating expense in Canada, 
Europe, Asia and Latin America. An increase in the value of the U.S. Dollar could increase the real cost to our 
customers of our products in those markets outside the United States where we sell in U.S. Dollars, and a 
weakened U.S. Dollar could increase the cost of local operating expenses and procurement of materials or service 
that we purchase in foreign currencies. From time to time, we hedge against currency exposure associated with 
anticipated foreign currency cash flows or assets and liabilities denominated in foreign currency. Such attempts 
to offset the impact of currency fluctuations are costly, and we cannot hedge against all foreign exchange rate 
volatility. Losses associated with these hedging instruments and the adverse effect of foreign currency exchange 
rate fluctuation may negatively affect our results of operations. 
Risks Related to Our Operations and Reliance on Third Parties 
We may experience delays in the development and production of our products that may negatively affect 
our competitive position and business. 
Our hardware and software networking solutions, including our WaveLogic modem technology and the 
components thereof, are based on complex technology, and we can experience unanticipated delays in 
developing, manufacturing and introducing these solutions to market. Delays in product development efforts by 
us or our third-party partners may affect our reputation with customers, affect our ability to capture market 
opportunities and impact the timing and level of demand for our products. We are regularly introducing new 
products and enhancements and each step in their development cycle presents serious risks of failure, rework or 
delay, any one of which could adversely affect the cost-effectiveness and timely development of our products. 
Reworks, in particular, if required, can be a very expensive and time-consuming effort. We may encounter delays 
relating to engineering development activities and software, design, sourcing and manufacture of critical 
components, and the development of prototypes. The development of new technologies may increase the 
complexity of supply chain management or require the acquisition, licensing or interworking with the technology 
of third parties. In addition, intellectual property disputes, failure of critical design elements and other execution 
risks may delay or even prevent the release of these products. If we do not successfully develop or produce 
products in a timely manner, our competitive position may suffer, and our business, financial condition and 
results of operations could be harmed. 
We rely on third-party contract manufacturers, and our business and results of operations may be 
adversely affected by risks associated with their businesses, financial condition, and the geographies in 
which they operate. 
We rely on third-party contract manufacturers, including those with facilities in Canada, Mexico, Thailand, 
and the United States, to perform a substantial portion of our supply chain activities, including component 
sourcing, manufacturing, product testing and quality, and fulfillment and logistics relating to the distribution and 
support of our products. There are a number of risks associated with our dependence on contract manufacturers, 
including: 
•
reduced control over delivery schedules and planning; 
37 

•
reliance on the quality assurance procedures of third parties; 
•
potential uncertainty regarding manufacturing yields and costs; 
•
availability of manufacturing capability and capacity, particularly during periods of high demand; 
•
the impact of wage inflation and labor shortages on cost; 
•
the impact of supply chain constraints on our contract manufacturers’ costs and business models; 
•
risks associated with the ability of our contract manufacturers to perform to our manufacturing needs; 
•
the impact of commercial or contractual disputes on our relationships with or the performance of our 
manufacturing partners; 
•
risks and uncertainties associated with the locations or countries where our products are manufactured, 
including disruption of manufacturing, logistics, or transit to final destinations caused by factors such 
as natural and man-made disasters, severe weather events, information technology system failures, 
commercial disputes, economic, business, labor, political, social, geopolitical, environmental, trade, or 
public health; 
•
risks associated with data security incidents, including disruptions, interdiction, or cyber-attacks 
targeting or affecting our third-party manufacturers, including manufacturing disruptions or 
unauthorized access to or acquisition of information; 
•
changes in law or policy governing tax, trade, manufacturing, development, and investment in the 
countries where we currently manufacture our products, including the World Trade Organization 
Information Technology Agreement or other free trade agreements; 
•
inventory liability for excess and obsolete supply; 
•
limited warranties provided to us; and 
•
potential misappropriation of our intellectual property. 
In addition, a range of physical and transitional risks related to climate change in the regions in which our 
contract manufacturers operate could have short-term or long-term adverse impacts on our business. Physical 
impacts could include severe weather events occurring more frequently or with more intensity, or changing 
weather patterns. This could impact the cost and availability of raw materials and other product inputs, disrupt 
our supply chain operations, manufacturing and distribution of our products, result in facilities closures, repairs 
or retrofitting, that could have an adverse impact on our business, operating results, and financial condition. 
If our contract manufacturers are unable or unwilling to manufacture our products or components of our 
products to our expected level of performance, or if we experience a disruption in manufacturing, we may be 
required to identify and qualify alternative manufacturers. The process of qualifying a new contract manufacturer 
and commencing volume production is complex and time-consuming, and such transitions can be disruptive and 
costly. There can be no assurance that such transitions would not result in significant business disruption, 
including shipment delays or inability to meet our customer requirements that impact our revenue. These and 
other risks associated with our contract manufacturers’ businesses, financial condition, and the geographies in 
which they operate could impair our ability to fulfill orders, harm our sales and impact our reputation with 
customers in ways that adversely impact our business and results of operations. 
Our reliance on third-party component suppliers, including sole and limited source suppliers, exposes our 
business to additional risk, including risk relating to our suppliers’ businesses and financial position and 
risks arising as a result of geopolitical events, and could limit our sales, increase our costs and harm our 
customer relationships. 
We maintain a global sourcing strategy and depend on a diverse set of third-party suppliers in international 
markets that comprise our supply chain. We rely on these third parties for activities relating to product design, 
38 

development and support, and in the sourcing of products, components, subcomponents and related raw materials. 
Our products include optical and electronic components for which reliable, high-volume supply is often available 
only from sole or limited sources. We do not have any guarantees of supply from our third-party suppliers, and in 
certain cases we have limited contractual arrangements or are relying on standard purchase orders. In recent periods, 
delays and lower-than-expected deliveries from a small group of our suppliers of integrated circuit components that 
are essential for delivering finished products had a disproportionate, adverse impact on our results of operations. 
There is no assurance that we will be able to secure the components or subsystems that we require, in sufficient 
quantity and quality, within our preferred timelines and on reasonable terms. 
The loss of a source of supply, or lack of sufficient availability of key components, could require that we locate 
an alternate source or redesign our products, either of which could result in business interruption and increased 
costs. Increases in market demand or scarcity of raw materials or components have resulted, and may in the future 
result, in shortages in availability of important components for our solutions, supply allocation challenges, 
deployment delays and increased cost, lead times and delivery cycle timelines. There are a number of significant 
technology trends or developments underway or emerging – including AI, the IoT, autonomous vehicles, and 
advances in mobile communications such as 5G technologies – that have previously resulted in, and we believe will 
continue to result in, increased market demand for key raw materials or components upon which we rely. 
A number of our key technology vendors rely upon sales to customers, including our competitors, in China 
for a material portion of their revenue. There have been a number of significant geopolitical events, including 
trade tensions and regulatory actions, involving the governments of the United States and China. In May 2019, 
the U.S. Department of Commerce amended the EAR by adding Huawei and certain affiliates to the “Entity List” 
for actions contrary to the national security and foreign policy interests of the United States, imposing significant 
new restrictions on export, reexport and transfer of U.S. regulated technologies and products to Huawei. In 
August 2020, the U.S. Department of Commerce added additional Huawei affiliates to the Entity List, confirmed 
the expiration of a temporary general license applicable to Huawei and amended the foreign direct product rule in 
a manner that represents a significant expansion of its application to Huawei. More recently, the U.S. Department 
of Commerce has expanded the scope of the EAR by amending the foreign direct product rule, resulting in more 
products made outside the United States becoming subject to the EAR for purposes of exports or transfers to 
certain countries and/or parties, which increases compliance risks and licensing obligations for companies 
dealing with such products. Several of our third-party component suppliers, including certain sole and limited 
source suppliers, sell products to Huawei and, in some cases, Huawei is a significant customer for such suppliers. 
At this time, there can be no assurance regarding the scope or duration of these restrictions, including the foreign 
direct product rule, or further actions imposed on Huawei and other companies located and operating in China, 
and any future impact on our suppliers. Any continued restriction on our suppliers’ ability to make sales to 
Huawei and other companies may adversely impact their businesses and financial position. In addition, China is 
in the midst of executing a five-year plan to improve China’s capabilities in the optoelectronics industry. There 
can be no assurance that this initiative, or similar efforts in China such as the Made in China 2025 initiatives (and 
actions taken by the U.S. government in response to such efforts), will not have an adverse impact on the 
business of our suppliers or our access to necessary components. These and similar industry, market and 
regulatory disruptions affecting our suppliers could, in turn, expose our business to loss or lack of supply or 
discontinuation of components that could result in lost revenue, additional product costs, increased lead times 
and deployment delays that could harm our business and customer relationships. Our business and results of 
operations would be negatively affected if we were to experience any significant disruption or difficulties with 
key suppliers affecting the price, quality, availability or timely delivery of required components. 
We rely on third-party resellers, distributors and service partners, and our failure to manage these 
relationships effectively could adversely affect our business, results of operations, and relationships with 
our customers. 
To complement our global field resources, we rely on a number of third-party resellers, distributors and 
sales agents, both domestic and international, and we believe that these relationships are an important part of our 
39 

business. There can be no assurance that we will successfully identify and qualify these resources or that we will 
realize the expected benefits of these sales relationships. We also rely on a number of third-party service 
partners, both domestic and international, to complement our global service and support resources. We rely on 
these partners for certain installation, maintenance and support functions and may increasingly use them for an 
expanding range of design, construction, integration and operation of networks, to address customer 
requirements. Certain service partners may provide similar services for other companies, including our 
competitors. We may not be able to manage our relationships with our service partners effectively, and we 
cannot be certain that they will be able to perform necessary services in the manner or time required, that we will 
be able to maintain the continuity of their services, or that they will adhere to ethical business practices. We may 
also be exposed to a number of risks or challenges relating to the performance of our service partners, including: 
•
delays in recognizing revenue; 
•
liability for injuries to persons, damage to property or other claims relating to the actions or omissions 
of our service partners; 
•
our services revenue and gross margin may be adversely affected; and 
•
our relationships with customers could suffer. 
We must assess and qualify distribution partners, third-party resellers, sales agents and service partners in 
order to ensure their understanding of, and willingness and ability to adhere to, our standards of conduct and 
business ethics. Certain third-party business partners may not have the same operational history, financial 
resources and scale that we have. We may be held responsible or liable for the actions or omissions of these third 
parties or their violations of law. If we do not effectively manage our relationships with these third-party business 
partners, our business, financial results and relationships with customers could be adversely affected. 
We may be exposed to unanticipated risks and additional obligations in connection with our resale of 
complementary products or technology of other companies. 
We have entered into agreements with strategic supply partners that permit us to distribute their products or 
technology. We may rely on these relationships to add complementary products or technologies, to diversify our 
product portfolio, or to address a particular customer or geographic market. We may enter into additional OEM, 
resale or similar strategic arrangements in the future. We may incur unanticipated costs or difficulties relating to 
our resale of third-party products. Our third-party relationships could expose us to risks associated with the 
business, financial condition, intellectual property rights and supply chain continuity of such partners, as well as 
delays in their development, manufacturing or delivery of products or technology. We may also be required by 
customers to assume warranty, indemnity, service and other commercial obligations, including potential liability 
to customers. These liabilities could exceed the commitments, if any, made to us by our technology partners. 
Some of our strategic supply partners are relatively small companies with limited financial resources. If they are 
unable to satisfy their obligations to us or our customers, we may have to expend our own resources to satisfy 
these obligations. Exposure to these risks could harm our reputation with key customers and could negatively 
affect our business and our results of operations. 
Growth of our business is dependent on the proper functioning and scalability of our internal business 
processes and information systems. Adoption of new systems, modifications or interruptions of services 
may disrupt our business, processes and internal controls. 
We rely on internal business processes and information systems to support key business functions, and the 
efficient operation of these processes and systems is critical to managing our business. Our business processes 
and information systems must be sufficiently scalable to support the growth of our business and may require 
modifications or upgrades that expose us to operational risks. We regularly pursue initiatives to transform and 
optimize our business operations through the reengineering of certain processes, investment in automation, and 
engagement of strategic partners or resources to assist with certain business functions. For example, to enhance 
40 

operational efficiency and modernize our supply chain operations, we are pursuing a number of digital 
technology transformation efforts, including advanced analytics, automation, and other digital solutions. In 
addition, our business may begin to operate in new markets and through new supply chain models that may 
require different internal processes to manage. These changes require a significant investment of capital and 
human resources and may be costly and disruptive to our operations, and they could impose substantial demands 
on management time. These changes may also require changes in our information systems, modification of 
internal control procedures and significant training of employees or third-party resources. Our IT systems, and 
those of third-party IT providers or business partners, may also be vulnerable to damage or disruption caused by 
circumstances beyond our control, including catastrophic events, power anomalies or outages, natural disasters, 
severe weather events, or impacts of climate change, data security related incidents, and computer system or 
network failures. There can be no assurance that our business systems or those of our third-party business 
partners will not be subject to similar incidents, exposing us to significant cost, reputational harm and disruption 
or damage to our business. 
Restructuring activities could disrupt our business and affect our results of operations. 
We have taken steps, including reductions in force, office closures, and internal reorganizations to reduce 
the cost of our operations, improve efficiencies, or realign our organization and staffing to better match our 
market opportunities and our technology development initiatives. We may take similar steps in the future as we 
seek to realize operating synergies, to achieve our target operating model and profitability objectives, or to reflect 
more closely changes in the strategic direction of our business or the evolution of our site strategy and 
workplace. These changes could be disruptive to our business, including our research and development efforts, 
and could result in significant expense, including accounting charges for inventory and technology-related write-
offs, workforce reduction costs and charges relating to consolidation of excess facilities. Substantial expense or 
charges resulting from restructuring activities could adversely affect our results of operations and use of cash in 
those periods in which we undertake such actions. 
If we are unable to attract and retain qualified personnel, we may be unable to manage our business 
effectively. 
Our future success and ability to maintain a technology leadership position depend upon our ability to 
recruit and retain the services of executive, engineering, sales and marketing, and support personnel. Competition 
to attract and retain highly skilled technical, engineering and other personnel with experience in our industry is 
intense, and our employees have been the subject of targeted hiring by our competitors. Competition is 
particularly intense in certain jurisdictions where we have research and development centers, including the 
Silicon Valley area of northern California, and for engineering talent generally. The lasting impact of the 
COVID-19 pandemic has resulted in higher employee costs, increased attrition, and significant shifts in the labor 
market and employee expectations. We may experience difficulty retaining and motivating existing employees 
and attracting qualified personnel to fill key positions. In addition, labor shortages and employee mobility may 
make it more difficult to hire and retain employees. None of our executive officers is bound by an employment 
agreement for any specific term. Because we rely on equity awards as a significant component of compensation, 
particularly for our executive team, a lack of positive performance in our stock price, reduced grant levels, or 
changes to our compensation program may adversely affect our ability to attract and retain key employees. If we 
are unable to attract and retain qualified personnel, we may be unable to manage our business effectively, and our 
operations and financial results could suffer. 
In addition, a number of our team members are foreign nationals who rely on visas or work-entry permits in 
order to legally work in the United States and other countries. Changes in government policy and global events, 
such as pandemics, may interfere with our ability to hire or retain personnel who require these visas or entry 
permits. Our business may be materially adversely affected if legislative or administrative changes to 
immigration or visa laws and regulations impair our hiring processes or projects involving personnel who are not 
citizens of the country where the work is to be performed. For example, potential changes in U.S. immigration 
41 

policy and regulations, including potential changes following the recent U.S. federal elections, such as the 
implementation of restrictive interpretations by the U.S. Citizenship and Immigration Services of regulatory 
requirements for H-1B, L-1 and other U.S. work visa categories, may also adversely affect our ability to hire or 
retain key talent, which could have an impact on our business operations. 
Risks Related to Intellectual Property, Litigation, Regulation and Government Policy 
Our intellectual property rights may be difficult and costly to enforce. 
We generally rely on a combination of patents, copyrights, trademarks and trade secret laws to establish and 
maintain proprietary rights in our products and technology. Although we own numerous patents, and other patent 
applications are currently pending, there can be no assurance that any of these patents or other proprietary rights 
will not be challenged, invalidated or circumvented, or that our rights will provide us with any competitive 
advantage. In addition, there can be no assurance that patents will be issued for our pending applications or that 
claims allowed on any patents will be sufficiently broad to protect our technology. Further, the laws of some 
foreign countries may not protect our proprietary rights to the same extent as do the laws of the United States. 
We are subject to the risk that third parties may attempt to access, divert or use our intellectual property 
without authorization. We are also vulnerable to third parties who illegally distribute or sell counterfeit, stolen, or 
unfit versions of our products, which could have a negative impact on our reputation and business. Protecting 
against the unauthorized use of our products, technology and other proprietary rights is difficult, time-consuming 
and expensive, and we cannot be certain that the steps that we are taking will detect, prevent or minimize the 
risks of such unauthorized use. In addition, our intellectual property strategy must continually evolve to protect 
our proprietary rights in new solutions, including our software solutions. Litigation may be necessary to enforce 
or defend our intellectual property rights or to determine the validity or scope of the proprietary rights of others. 
Such litigation could result in substantial cost and diversion of management time and resources, and there can be 
no assurance that we will obtain a successful result. Any inability to protect and enforce our intellectual property 
rights could harm our ability to compete effectively. 
We may incur significant costs in response to claims by others that we infringe upon their intellectual 
property rights. 
From time to time third parties may assert claims or initiate litigation or other proceedings related to patent, 
copyright, trademark and other intellectual property rights to technologies and related standards that are relevant 
to our business. We have been subject to several claims related to patent infringement, and we have been 
requested to indemnify customers pursuant to contractual indemnity obligations relating to infringement claims 
made by third parties. The rate of infringement assertions by patent assertion entities remains high, particularly in 
the United States. Generally, these patent owners neither manufacture nor use the patented invention directly, and 
they seek to derive value from their ownership solely through royalties from patent licensing programs. 
We could be adversely affected by litigation, other proceedings or claims against us, as well as claims 
against our manufacturers, suppliers or customers, alleging infringement of third-party proprietary rights by our 
products and technology, or components thereof. Regardless of the merit of these claims, they can be time-
consuming, divert the time and attention of our technical and management personnel, and result in costly 
litigation or otherwise require us to incur substantial costs, including legal fees. These claims, if successful, could 
require us to: 
•
pay substantial damages or royalties; 
•
comply with an injunction or other court order that could prevent us from offering certain of our 
products; 
•
seek a license for the use of certain intellectual property, which may not be available on commercially 
reasonable terms or at all; 
42 

•
develop non-infringing technology or modify certain products, services, or features, which could 
require significant effort and expense and ultimately may not be successful; and 
•
indemnify our customers or other third parties pursuant to contractual obligations to hold them 
harmless or pay expenses or damages on their behalf. 
Any of these events could adversely affect our business, results of operations and financial condition. Our 
exposure to risks associated with the use of intellectual property may increase as a result of acquisitions, as we 
would have a lower level of visibility into the development process with respect to the acquired technology and 
the steps taken to safeguard against the risks of infringing the rights of third parties. 
Our products incorporate software and other technology under license from third parties, and our 
business would be adversely affected if this technology were no longer available to us on commercially 
reasonable terms. 
We integrate third-party software and other technology into our operating system, network management, 
and intelligent automation software and other products. As a result, we may be required to license certain 
software or technology from third parties, including competitors. Licenses for software or other technology may 
not be available or may not continue to be available to us on commercially reasonable terms. Failure to obtain or 
maintain such licenses or other third-party intellectual property rights could affect our development efforts and 
market opportunities, or could require us to re-engineer our products or to obtain alternate technologies. Third-
party licensors may insist on unreasonable financial or other terms in connection with our use of such 
technology. Our failure to comply with the terms of any license may result in our inability to continue to use such 
license, which may result in significant costs, harm our market opportunities and require us to obtain or develop a 
substitute technology. 
Some of our solutions, including our operating system software, Platform Software, and Blue Planet 
Automation Software, utilize elements of open source or publicly available software. As network operators seek 
to enhance programmability and automation of networks, we expect that we and other communications 
networking solutions vendors will increasingly contribute to and use technology or open source software 
developed by standards setting bodies or other industry forums that seek to promote the integration of network 
layers and functions. The terms of such licenses could be construed in a manner that could impose unanticipated 
conditions or restrictions on our ability to commercialize our products. This increases our risks associated with 
our use of such software and may require us to seek licenses from third parties, to re-engineer our products, or to 
discontinue the sale of such solutions. Difficulty obtaining and maintaining technology licenses with third parties 
may disrupt development of our products, increase our costs and adversely affect our business. 
Data security breaches and cyber-attacks targeting our enterprise technology environment and assets 
could compromise our intellectual property, technology or other sensitive information and could cause 
significant damage to our business, reputation and operational capacity. 
In the ordinary course of our business, our network environment and assets, and the networks and assets of 
our third-party business partners, including our supply chain and other vendors, maintain certain information that 
is confidential, regulated, proprietary or otherwise sensitive in nature to our business. This information may 
include intellectual property and product information, personal data, financial information and other confidential 
business information relating to us and our employees, customers, suppliers and other business partners. The 
frequency, sophistication and unpredictability of cybersecurity events globally have increased, and can be more 
acute during times of geopolitical tension or instability between countries. In addition, companies in the 
technology industry, and in particular, manufacturers of networking and communications products, have been 
increasingly subjected to a wide variety of data security incidents, including cyber-attacks, attacks against 
products, and other attempts to gain unauthorized access to network assets, infrastructure or sensitive 
information. Our network systems, devices, storage and other business applications, and those that we rely on, 
and that are maintained by our third-party providers, have been in the past, and may be in the future, subjected to 
43 

security incidents including attack, exploitation, intrusion, disruption and other malfeasance or attempts to gain 
unauthorized access or conduct other unauthorized activities. Further, our network systems, devices, storage and 
other business applications may be targeted for data security incidents as a vicarious method to target our 
customers. Such data security incidents may be caused by malice or negligence from either third-party or internal 
actors. These threats arise from actions by nation states, independent hackers, hacktivist groups, organized 
cybercrime entities, and other third parties, as well as from malicious actors from within or supporting our 
organization. Further, evolving technologies, including AI, pose new threats. In some cases, it is difficult to 
anticipate, detect or identify indicators of such incidents and assess the damage caused thereby. If an actual or 
perceived data security incident affects our network or any of our third-party providers’ networks, we could incur 
significant costs, our technology and operations could be impacted, our customers and other stakeholders and/or 
their network environments could be impacted, our reputation could be harmed, and we may become involved in 
litigation, including with respect to allegations of breach of contract. We may also be subject to increased 
regulatory oversight, including governmental investigations, enforcement actions, and regulatory fines. We could 
also experience delays in reporting our financial results, and we may lose revenue and profits as a result of our 
inability to timely produce, distribute, invoice, and collect payments for our products and services. Additionally, 
a data security incident may result in significant remediation expenses and increased cybersecurity protection and 
insurance costs. 
While we work to safeguard our enterprise network systems and products and to diligence the security of 
our third-party providers to mitigate these potential risks, including through information security policies, 
employee awareness and training, and other technical, procedural and administrative controls, there is no 
assurance that such actions will be sufficient to prevent future data security incidents or insider threats. We have 
been subjected in the past, and expect to be subjected in the future, to a range of incidents including phishing, 
emails purporting to come from a company executive or vendor seeking payment requests, malware, and 
communications from look-alike corporate domains, as well as security-related risks created by malicious 
internal actors internally and our use of third-party software and services. We have also been subject to 
unauthorized access and exfiltration of confidential data as a result of the exploitation of vulnerabilities involving 
our use of third-party applications. While these types of incidents to which we have been subjected have not had 
a material effect on our business, technology, operations or our network security to date, future data security 
incidents could compromise material confidential or otherwise protected information, seize, destroy or corrupt 
data, impact our customers’ data or systems through attacks on our products in our customers’ environments, or 
otherwise disrupt our operations or impact our customers or other stakeholders. We and our network environment 
may also be subject in the future to ransomware attacks, nation-state cyber attacks or other types of cyber attacks. 
A failure to promptly disclose such material incidents as required by law may result in additional financial or 
regulatory consequences. We have incurred, and will continue to incur, expenses to comply with cybersecurity, 
privacy, and data protection standards and protocols imposed by law, regulation, industry standards and 
contractual obligations. Increased regulation of data collection, use and retention practices, and product security 
regulations, including self-regulation and industry standards, changes in existing laws and regulations, enactment 
of new laws and regulations, increased enforcement activity, and changes in interpretation of laws, could increase 
our cost of compliance and operation. And while we may be entitled to damages if our third-party providers fail 
to satisfy their security-related obligations to us, any award may be insufficient to cover our damages, or we may 
be unable to recover such award. While we have purchased cybersecurity insurance, there are no assurances that 
the coverage would be adequate in relation to any incurred losses or not subject to any exclusions. Moreover, as 
cyber-attacks increase in frequency and magnitude, we may be unable to obtain cybersecurity insurance in 
amounts and on terms we view as adequate for our operations. 
We are a party to legal proceedings, investigations and other claims or disputes, which are costly to defend 
and, if determined adversely to us, could require us to pay fines or damages, undertake remedial 
measures, or prevent us from taking certain actions, any of which could adversely affect our business. 
In the course of our business, we are, and in the future may be, a party to legal proceedings, investigations 
and other claims or disputes, which have related and may relate to subjects including commercial transactions, 
44 

intellectual property, securities, employee relations, or compliance with applicable laws and regulations. Legal 
proceedings and investigations are inherently uncertain, and we cannot predict their duration, scope, outcome or 
consequences. There can be no assurance that these or any such matters that have been or may in the future be 
brought against us will be resolved favorably. In connection with any government investigations, in the event the 
government takes action against us or the parties resolve or settle the matter, we may be required to pay 
substantial fines or civil and criminal penalties and/or be subject to equitable remedies, including disgorgement 
or injunctive relief. Other legal or regulatory proceedings, including lawsuits filed by private litigants, may also 
follow as a consequence. These matters are likely to be expensive and time-consuming to defend, settle and/or 
resolve, and may require us to implement certain remedial measures that could prove costly or disruptive to our 
business and operations. They may also cause damage to our business reputation. The unfavorable resolution of 
one or more of these matters could have a material adverse effect on our business, results of operations, financial 
condition or cash flows. 
Changes in trade policy, including the imposition of tariffs and other import measures, increased export 
control, sanctions and investment restrictions, and efforts to withdraw from or materially modify 
international trade agreements, as well as other regulatory efforts impacting the import and sale of foreign 
equipment, may adversely affect our business, operations and financial condition. 
The United States and various foreign governments have established certain trade and tariff requirements 
under which we have implemented a global approach to the sourcing and manufacture of our products, as well as 
distribution and fulfillment to customers around the world. From time to time, the U.S. government has indicated 
a willingness to revise, renegotiate, or terminate various existing multilateral trade agreements and to impose 
new taxes and restrictions on certain goods imported into the U.S. Because we rely on a global sourcing strategy 
and third-party contract manufacturers in markets outside of the U.S. to perform substantially all of the 
manufacturing of our products, such steps, if adopted, could adversely impact our business and operations, 
increase our costs, and make our products less competitive in the U.S. and other markets. 
For example, our supply chain includes certain direct and indirect suppliers based in China who supply 
goods to us, our manufacturers, or our third-party suppliers. Recently, there have been a number of significant 
geopolitical events, including trade tensions and regulatory actions, involving the governments of the United 
States and China. The U.S. government has raised tariffs, and imposed new tariffs, on a wide range of imports of 
Chinese products, including component elements of our solutions and certain finished goods products that we 
sell. For example, U.S. tariff policy involving imports from China was subject to a lengthy, now-completed 
review by the U.S. government in 2023 and the first three quarters of 2024, and the incoming U.S. administration 
has announced an intent to impose an additional 10% tariff on all imports from China. The U.S. government has 
also introduced broad new restrictions on imports from China allegedly manufactured with forced labor, and the 
EU and the UK have recently adopted similar restrictions. China has retaliated by raising tariffs, and imposing 
new tariffs, on certain exports of U.S. goods to China, introducing blocking measures to restrict the ability of 
domestic companies to comply with U.S. trade restrictions, and recently prohibiting the export of certain rare 
minerals from China to the United States, and could take further steps to retaliate against U.S. industries or 
companies. In May 2020, the U.S. introduced significant further restrictions limiting access to controlled U.S. 
technology to additional Chinese government and commercial entities, including certain of our competitors based 
in China. More recently, in October 2022, the U.S. Department of Commerce imposed additional export control 
restrictions targeting the provision of certain semiconductors and related technology to China that could further 
disrupt supply chains that could adversely impact our business. In addition, the U.S. Federal Communications 
Commission (the “FCC”) in November 2022 prohibited communications equipment deemed to pose an 
unacceptable risk to national security from obtaining the equipment authorization that allows the products to be 
imported, marketed, or sold in the U.S. This prohibition currently includes telecommunications equipment 
produced by Huawei, its affiliates and subsidiaries, and four other Chinese companies, and additional entities 
may be subsequently added to this list. In addition, U.S. Department of Treasury’s Office of Foreign Assets 
Control has increasingly designated as Specially Designated Nationals and Blocked Persons (“SDNs”) 
companies in China for their alleged activities involving Russia, Iran, North Korea or forced labor practices in 
45 

the Xinjiang province of China, and such SDN designation includes not only an asset freeze but also broad 
prohibitions on any direct or indirect dealings with designated SDNs, or non-designated entities owned by one or 
more SDNs at 50% or greater level. The situation involving U.S.-China trade relations remains volatile and 
uncertain, and there can be no assurance that further actions by either country will not have an adverse impact on 
our business, operations and access to technology, or components thereof, sourced from China. See also the risk 
factor with the caption beginning “Our reliance on third-party component suppliers…” above. 
At this time, it remains unclear what additional actions, if any, will be taken by the U.S. or other 
governments with respect to international trade agreements, the imposition of tariffs on goods imported into the 
U.S., tax policy related to international commerce, increased export control, sanctions and investment 
restrictions, import or use of foreign communications equipment, or other trade matters. However, the incoming 
U.S. administration announced an intent to impose tariffs on imports from Canada, Mexico, and China. We 
estimate that products or components that make up a significant portion of our revenue are either manufactured 
in or distributed from Mexico. Although the ultimate scope and timing of any such tariffs is indeterminable, if 
implemented, they could have a significant impact on our financial condition and results of operations. Based on 
our manufacturing practices and locations, there can be no assurance that any future executive or legislative 
action in the United States or other countries relating to tax policy and trade regulation would not adversely 
affect our business, operations and financial results. 
Government regulation of usage, import or export of our products, or our technology within our products, 
changes in that regulation, or our failure to obtain required approvals for our products, could harm our 
international and domestic sales and adversely affect our revenue and costs of sales. Failure to comply with such 
regulations could result in enforcement actions, fines, penalties or restrictions on export privileges. In addition, 
costly tariffs on our equipment, restrictions on importation, trade protection measures and domestic preference 
requirements of certain countries could limit our access to these markets and harm our sales. These regulations 
could adversely affect the sale or use of our products, substantially increase our cost of sales and adversely affect 
our business and revenue. 
Changes in government regulations affecting the communications and technology industries and the 
businesses of our customers could harm our prospects and operating results. 
The FCC has jurisdiction over many companies in the U.S. telecommunications industry, and similar 
agencies have jurisdiction over the communications industries in other countries. Many of our largest customers, 
including service providers and cable and multiservice network operators, are subject to the rules and regulations 
of these agencies, while others participate in and benefit from government-funded programs that encourage the 
deployment of network infrastructures. These regulatory requirements and funding programs and related laws are 
subject to changes that may adversely impact our customers, with resulting adverse impacts on our business. 
In April 2024, the FCC reclassified broadband internet access service (“BIAS”) as a telecommunications 
service under Title II of the Communications Act and reinstated net neutrality obligations on BIAS providers. 
States and localities are also increasingly proposing new regulations impacting communications services. Any of 
these regulations could affect our customers and their legal and compliance costs, with resulting adverse impacts 
on our business. 
Changes in regulatory requirements or uncertainty associated with the regulatory environment could delay 
or serve as a disincentive to investment in network infrastructures by network operators, which could adversely 
affect the sale of our products and services. Similarly, changes in regulatory tariff requirements or other 
regulations relating to pricing or terms of carriage on communications networks could slow the development or 
expansion of network infrastructures and adversely affect our business, operating results, and financial condition. 
Legislators and regulators have also enacted and may in the future enact laws and rules that impose significant 
fines or other liability on communications companies that experience cyber attacks, information or security 
breaches, or technology disruptions or failures. Such events may therefore have an adverse effect on our 
company or our customers’ businesses. 
46 

Separately, certain of our cloud provider customers have been the subject of regulatory and other 
government actions, including inquiries and investigations, formal or informal, by competition authorities in the 
United States, Europe and other jurisdictions. For example, in July 2019, the U.S. Department of Justice 
announced that it would commence an antitrust review into significant online technology platforms, and in 
September 2019, various state attorneys general announced antitrust investigations involving certain technology 
companies. In addition, certain committees of the U.S. Congress have held hearings and pursued investigations to 
consider the businesses associated with these platforms, their impact on competition, and their conduct. Further, 
in November 2024, reports emerged that the Federal Trade Commission opened an investigation into potentially 
anticompetitive practices by at least one large company in the cloud computing market. There can be no 
assurance that these government actions will not adversely impact the network spending, procurement strategies, 
or business practices of our cloud provider customers in a manner adverse to us. 
Government regulations related to the environment, climate change and social initiatives could adversely 
affect our business and operating results. 
Our operations are regulated under various federal, state, local and international laws and regulations 
relating to the environment and climate change and in many of the jurisdictions in which we operate, 
governmental authorities are increasingly enacting new legislation and regulations relating to the environment 
and climate change. These laws and regulations directly impact us and may indirectly impact our operations as a 
result of required compliance by our customers or supply chain. Inconsistency across laws and regulations may 
affect the costs of compliance with such laws and regulations. Assessments of the potential impact of future 
climate change legislation, regulation, and international treaties and accords are uncertain, given the wide scope 
of potential regulatory change in countries in which we operate. Increased public awareness and worldwide focus 
on environmental and climate changes may lead to new or strengthened regulations, legislation or other 
governmental requirements or industry standards, such as increased demand to meet voluntary criteria related to 
reduction of greenhouse gas emissions and increasing energy efficiency. These requirements will, and other 
increased regulation of climate change concerns could, subject us to additional costs and restrictions, and could 
require us to make certain changes to our manufacturing practices and product designs, which could negatively 
impact our business, results of operations, financial condition and competitive position. If we were to violate or 
become liable under these laws or regulations, we could incur fines, costs related to damage to property or 
personal injury and costs related to investigation or remediation activities. 
Our product design efforts and the manufacturing of our products are also subject to evolving requirements 
relating to the presence of certain materials or substances in our equipment, including regulations that make 
producers for such products financially responsible for the collection, treatment and recycling of certain products. 
For example, our operations and financial results may be negatively affected by environmental regulations, such 
as the WEEE and RoHS regulations that have been adopted by the EU. Compliance with these and similar 
environmental regulations may increase our cost of designing, manufacturing, selling and removing our products. 
The SEC requires disclosure regarding the use of “conflict minerals” mined from the Democratic Republic of the 
Congo and adjoining countries (the “DRC”) and disclosure with respect to procedures regarding a manufacturer’s 
efforts to prevent the sourcing of such minerals from the DRC. Certain of these minerals are present in our 
products. SEC rules implementing these requirements may have the effect of reducing the pool of suppliers that 
can supply “conflict free” components and parts, and we may not be able to obtain conflict free products or 
supplies in sufficient quantities for our operations. Because our supply chain is complex, we may face 
reputational challenges with our customers, stockholders and other stakeholders if we are unable to verify 
sufficiently the origins for the “conflict minerals” used in our products and cannot assert that our products are 
“conflict free.” Environmental or similar social initiatives may also make it difficult to obtain supply of 
compliant components or may require us to write off non-compliant inventory, which could have an adverse 
effect on our business and operating results. 
47 

Investor and other stakeholder scrutiny related to our environmental, social and governance practices, 
and our disclosed performance and aspirations for these practices, may increase costs and expose us to 
numerous risks. 
Investors, media, business partners, employees, legislators, regulators, and other stakeholders are 
increasingly focused on ESG matters, including climate change and greenhouse gas emissions, human and civil 
rights, and diversity, equity and inclusion. As expectations have changed, we have established and communicated 
various initiatives, goals and aspirations related to ESG matters. Any disclosed goals and aspirations reflect our 
current initiatives and plans and assumptions as of the date of their disclosure, involve risks and uncertainties, 
may require investments, may depend in part on third-party performance or data that is outside our control, are 
subject to assumptions that could change over time, and may not be achieved. In addition, the standards and laws 
by which ESG efforts are tracked and measured are in many cases new, have not been harmonized, and continue 
to evolve. Our efforts to abide by these standards and laws and to accomplish and accurately report on our 
initiatives, goals and aspirations present numerous operational, reputational, financial, legal, and other risks. Our 
processes and controls may not always align with evolving standards, our interpretation of standards may differ 
from others, and standards may continue to change over time, any of which could result in significant revisions to 
our goals, our reported progress toward those goals, or other ESG information we disclose. In addition, any 
failure or perceived failure to pursue, further or fulfill our previously stated goals, targets and objectives, satisfy 
various reporting standards within the timelines we announce, or at all, adhere to our public statements, comply 
with environmental, social and governance laws and regulations, and meet evolving and varied stakeholder 
expectations and standards, could result in legal and regulatory proceedings against us and materially adversely 
affect our business, reputation, results of operations, financial condition and stock price. 
Changes in tax law or regulation, effective tax rates and other adverse outcomes with taxing authorities 
could adversely affect our results of operations. 
Our future effective tax rates could be subject to volatility or adversely affected by changes in tax laws, 
regulations, accounting principles, or interpretations thereof. The impact of income taxes on our business can 
also be affected by a number of items relating to our business. These may include estimates for, and the actual, 
geographic mix of our earnings; changes in the valuation of our deferred tax assets; the use or expiration of net 
operating losses or research and development credit arrangements applicable to us in certain geographies; and 
changes in our methodology for transfer pricing, valuing developed technology or conducting intercompany 
arrangements. 
The Organization for Economic Co-operation and Development (the “OECD”) has introduced a framework 
to implement a global minimum tax of 15% for certain highly profitable multinational companies, referred to as 
Pillar Two or the minimum tax directive. While it is uncertain whether the United States will enact legislation to 
adopt Pillar Two, certain countries in which we operate have enacted legislation, and other countries are in the 
process of introducing draft legislation to implement the minimum tax directive. Many aspects of Pillar Two will 
be effective for Ciena beginning in fiscal 2025 with additional components becoming effective beginning in 
fiscal 2026. Pillar Two taxes are considered an alternative minimum tax accounted for as a period cost that will 
impact the effective tax rate in the year the Pillar Two tax obligation arises. Therefore, deferred taxes will not be 
recognized or adjusted for the estimated effects of future minimum taxes. We have assessed the impact of Pillar 
Two and do not currently anticipate any material effect on our effective tax rate, financial results or cash flows 
for fiscal 2025 based on currently enacted laws; however, our analysis is ongoing as the OECD continues to 
release additional guidance and countries enact legislation. To the extent additional legislative changes take place 
in the countries in which we operate, it is possible that these changes may yield an adverse impact on our 
effective tax rate, financial results and cash flows. 
We are subject to the continuous examination of our income and other tax returns by the Internal Revenue 
Service and other tax authorities globally, and we have a number of such reviews underway at any time. It is 
possible that tax authorities may disagree with certain positions we have taken, and an adverse outcome of such a 
48 

review or audit could have a negative effect on our financial position and operating results. There can be no 
assurance that the outcomes from such examinations, or changes in tax law or regulation impacting our effective 
tax rates, will not have an adverse effect on our business, financial condition and results of operations. 
Failure to maintain effective internal controls over financial reporting could have a material adverse effect 
on our business, operating results and stock price. 
Section 404 of the Sarbanes-Oxley Act of 2002 requires that we include in our annual report a report 
containing management’s assessment of the effectiveness of our internal controls over financial reporting as of 
the end of our fiscal year and a statement as to whether or not such internal controls are effective. Compliance 
with these requirements has resulted in, and is likely to continue to result in, significant costs and the 
commitment of time and operational resources. Certain ongoing initiatives, including efforts to transform 
business processes or to transition certain functions to third-party resources or providers, will necessitate 
modifications to our internal control systems, processes and related information systems as we optimize our 
business and operations. Our expansion into new regions could pose further challenges to our internal control 
systems. We cannot be certain that our current design for internal control over financial reporting, or any 
additional changes to be made, will be sufficient to enable management to determine that our internal controls are 
effective for any period, or on an ongoing basis. If we are unable to assert that our internal controls over financial 
reporting are effective, market perception of our financial condition and the trading price of our stock may be 
adversely affected, and customer perception of our business may suffer. 
Risks Related to Our Common Stock, Indebtedness and Investments 
Our stock price is volatile. 
Our common stock price has experienced substantial volatility in the past and may remain volatile in the 
future. Volatility in our stock price can arise as a result of a number of the factors discussed in this “Risk 
Factors” section. From fiscal 2020 through fiscal 2024, our closing stock price ranged from a high of $77.60 per 
share to a low of $34.50 per share. The stock market has experienced significant price and volume fluctuation 
that has affected the market price of many technology companies, with such volatility often unrelated to the 
operating performance of these companies. Divergence between our actual results and our forward-looking 
guidance for such results, the published expectations of investment analysts, or the expectations of the market 
generally, can cause significant swings in our stock price. Our stock price can also be affected by market 
conditions in our industry as well as announcements that we, our competitors, vendors or our customers may 
make. These may include announcements by us or our competitors of financial results or changes in estimated 
financial results, technological innovations, the gain or loss of customers, or other strategic initiatives. Our 
common stock is also included in certain market indices, and any change in the composition of these indices to 
exclude our company could adversely affect our stock price. In addition, if the market for technology stocks or 
the broader stock market experiences a loss of investor confidence, the trading price of our common stock could 
decline for reasons unrelated to our business, financial condition or results of operations. These and other factors 
affecting macroeconomic conditions or financial markets may materially adversely affect the market price of our 
common stock in the future. 
Outstanding indebtedness under our senior secured credit facilities and senior unsecured notes may 
adversely affect our liquidity and results of operations and could limit our business. 
We are a party to credit agreements relating to a $300 million senior secured revolving credit facility, an 
outstanding senior secured term loan with approximately $1.2 billion due 2030, and an outstanding senior 
unsecured indenture pursuant to which we issued $400 million in aggregate principal amount of 4.00% senior 
notes due 2030. The agreements governing these credit facilities contain certain covenants that limit our ability, 
among other things, to incur additional debt, create liens and encumbrances, pay cash dividends, redeem or 
repurchase stock, enter into certain acquisition transactions or transactions with affiliates, repay certain 
indebtedness, make investments, or dispose of assets. The agreements also include customary remedies, 
49 

including the right of the lenders to take action with respect to the collateral securing the loans, that would apply 
should we default or otherwise be unable to satisfy our debt obligations. 
Our indebtedness could have important negative consequences, including: 
•
increasing our vulnerability to adverse economic and industry conditions; 
•
limiting our ability to obtain additional financing, particularly in unfavorable capital and credit market 
conditions; 
•
debt service and repayment obligations that may adversely impact our results of operations and reduce 
the availability of cash resources for other business purposes; 
•
limiting our flexibility in planning for, or reacting to, changes in our business and the markets; and 
•
placing us at a possible competitive disadvantage to competitors that have better access to capital 
resources. 
We may also enter into additional debt transactions or credit facilities, including equipment loans, working 
capital lines of credit, senior notes, and other long-term debt, which may increase our indebtedness and result in 
additional restrictions on our business. In addition, major debt rating agencies regularly evaluate our debt based 
on a number of factors. There can be no assurance that we will be able to maintain our existing debt ratings, and 
failure to do so could adversely affect our cost of funds, liquidity and access to capital markets. 
Significant volatility and uncertainty in the capital markets may limit our access to funding on favorable 
terms or at all. 
The operation of our business requires significant capital. We have accessed the capital markets in the past 
and have successfully raised funds, including through the issuance of equity, convertible notes and other 
indebtedness, to increase our cash position, support our operations and undertake strategic growth initiatives. We 
regularly evaluate our liquidity position, debt obligations and anticipated cash needs to fund our long-term 
operating plans, and we may consider it necessary or advisable to raise additional capital or incur additional 
indebtedness in the future. If we raise additional funds through further issuance of equity or securities convertible 
into equity, or undertake certain transactions intended to address our existing indebtedness, our existing 
stockholders could suffer dilution in their percentage ownership of our company, or our leverage and outstanding 
indebtedness could increase. At times, capital market conditions, including the impact of inflation, have 
increased borrowing rates and could significantly increase our cost of capital should we seek additional funding. 
Moreover, global capital markets have undergone periods of significant volatility and uncertainty in the past, and 
there can be no assurance that such financing alternatives will be available to us on favorable terms or at all, 
should we determine it necessary or advisable to seek additional capital. 
Item 1B. Unresolved Staff Comments 
Not applicable. 
Item 1C. Cybersecurity 
Oversight and Governance 
Our Board of Directors and the Audit Committee of our Board of Directors (the “Audit Committee”) are 
responsible for overseeing and assessing management’s execution of and approach to cybersecurity risk 
management. Our Chief Information Security Officer (“CISO”), who reports directly to our Chief Financial 
Officer, is primarily responsible for assessing cybersecurity risks and managing our cybersecurity program on a 
day-to-day basis, with support from other members of senior management. 
50 

Our CISO is an accomplished security professional with 20 years of experience in cybersecurity and risk 
management across numerous industries and holds degrees in computer science and information assurance, and 
additional executive education in building and leading cybersecurity programs. The CISO and his team (the 
“Security Team”), which includes trained cybersecurity professionals, are responsible for implementing and 
maintaining our cybersecurity strategy and program and its related processes. We also maintain a Security 
Advisory Committee (“SAC”), which is chaired by our Chief Financial Officer and composed of members of 
executive leadership and other functional leaders, including our General Counsel, CISO, Chief Digital 
Information Officer, and Vice President of Internal Audit. The SAC meets regularly to, among other things, 
review cybersecurity program developments and serves as a path of escalation and decision-making in certain 
situations, including incident response. 
We, and our managed security partners, regularly monitor our environment for indicators of malicious or 
suspicious activity and security relevant events. The potential risk and impact of any such event is evaluated by a 
cross-functional team that includes members of our Security Team, legal department and other business functions 
as necessary and appropriate. Materiality determinations related to escalated events are made by the SAC without 
unreasonable delay. The CISO, on a quarterly basis, generally provides the Audit Committee a summary of 
relevant cybersecurity events, with certain events escalated to the Audit Committee outside of these quarterly 
meetings depending upon their nature. 
As part of our Board of Directors’ oversight of risk management, they devote time and attention to 
cybersecurity related risks. The Audit Committee is responsible for overseeing cybersecurity, data privacy and 
information technology-related programs, policies and other efforts to manage or mitigate cybersecurity risks. As 
part of its standing agenda, the Audit Committee receives quarterly updates on cybersecurity risks and initiatives 
from our CISO. These updates have included reviews of our cybersecurity risk management efforts, including the 
development of relevant processes and policies, the implementation of technologies and systems, or use of third-
party partners to safeguard our information systems, the conduct of education and training initiatives with 
employees and business partners, and incident response preparedness, including simulations and tabletop 
exercises. The Audit Committee regularly updates the Board of Directors on such matters. Separately, and in 
addition to such quarterly reporting, our Board of Directors also receives an annual update from our CISO on 
information and cybersecurity risks and related initiatives. These Board updates have included briefings from our 
CISO, as well as external counsel and third-party security advisors, which have included continuing education 
sessions as our Board of Directors seeks to enhance its understanding of cybersecurity risk, leading practices and 
an evolving cyber threat landscape. 
Risk Management and Strategy 
The safeguarding of information systems, that house employee and customer data, and proprietary 
information, are of paramount importance to us, our business and our reputation. We maintain a robust and 
proactive enterprise cybersecurity program designed to identify, assess and manage cybersecurity risks that may 
impact our business or assets. 
Cybersecurity Strategy 
Our cybersecurity strategy focuses on (i) maintaining a cybersecurity framework and set of controls to 
assess and manage security risks and (ii) protecting against threats by deploying and monitoring security controls 
and mitigating exposures and potential threats. We maintain a security program designed to align with industry 
standards, principles, and frameworks, such as those set by the National Institute of Standards and Technology 
(NIST) and the International Organization for Standardization (ISO). Our program is also informed by various 
legal requirements including contractual requirements from our customers. In addition, we maintain internal 
policies and procedures that govern the measures we take to secure our information technology environment. 
These include a wide variety of capabilities designed to prevent, detect, or address risks to systems and data. We 
also employ a range of tools and services, including regular network and endpoint monitoring, penetration 
testing, and vulnerability assessments, to inform our risk identification and management strategy. 
51 

Security Risk Management 
Our Security Team regularly assesses cybersecurity risks, including their likelihood and potential impact, to 
develop mitigation strategies. The team utilizes enterprise governance, risk, and compliance solutions and tools 
licensed from third-party vendors to conduct various analytic assessments, including cloud and container 
security, detection and response, threat intelligence, and application security assessments. We also routinely 
evaluate and update our understanding of our cybersecurity threat landscape and evolve our related assessments 
and mitigation strategies accordingly. 
We regularly review our cybersecurity program for compliance with evolving regulations and to protect 
against emerging cyber threats. Because we operate in a dynamic threat landscape, we conduct regular reviews of 
our program and procedures, and we periodically engage third parties to supplement and review our 
cybersecurity practices. We also maintain a cybersecurity risk insurance policy as part of our risk management 
efforts, and regularly engage and collaborate with peers, industry groups, and U.S. government partners relating 
to cybersecurity risk management and the evolving threat environment. 
We seek to identify and address cybersecurity threats and risks that can arise from our use of third parties, 
including those that comprise our information systems, supply chain operations or who have access to certain 
data. We utilize supplier risk management practices, including enhanced due diligence assessments, that seek to 
identify cybersecurity risks associated with our use of third-party providers and the scope and nature of their 
work with us. These risks are assessed and prioritized based on, among other things, supplier assessments, threat 
intelligence, and industry practices. We consider these risks at the time of supplier onboarding and endeavor to 
assess changes in risk throughout the lifecycle of our relationship with suppliers. 
Promoting an engaged and aware workforce is a key part of our cybersecurity defense program. We carry 
out regular security awareness training for our personnel to help them better identify and address potential 
cybersecurity issues. This includes regular exercises to simulate and detect phishing attempts, various awareness 
and communication initiatives and required online security awareness training at the time of hire and generally 
on an annual basis thereafter. 
Incident Response Readiness 
We utilize a combination of internal and third-party resources to monitor for threats to our network, systems 
and data. To promote cybersecurity readiness and advance the preparedness of our teams, our cross-functional 
incident response teams maintain an incident response plan, in addition to more technical response playbooks, 
and meet regularly to assess these resources. Among other things, they perform “tabletop” simulation exercises, 
internally and with third-party experts, to outline their roles and responsibilities during a cybersecurity event and 
to refine risk identification and management practices. 
We have in the past, and may in the future, utilize third-party cyber security assessors or consultants to 
review our program, to share their findings with our Board of Directors or leadership, and to help identify 
opportunities for continuous improvement. 
Additional information about cybersecurity risks we face is discussed in Item 1A of Part I of this annual 
report, “Risk Factors,” including under the heading “Data security breaches and cyber-attacks targeting our 
enterprise technology environment and assets could compromise our intellectual property, technology or other 
sensitive information and could cause significant damage to our business, reputation and operational capacity,” 
which should be read in conjunction with the information above. While we continue to monitor, identify, 
investigate, respond to, and manage cybersecurity threats, risks and incidents, to date we have not experienced 
cybersecurity risks, including as a result of previous cybersecurity incidents, that have had a material effect. 
There can be no assurance that we will not experience such risks in the future. 
52 

Item 2. Properties 
Overview. As of November 2, 2024, all of our properties are leased, and we do not own any real property. 
We lease facilities globally related to the ongoing operations of our business segments and related functions. Our 
corporate headquarters are located in one building in Hanover, Maryland. 
Our largest facilities are our research and development centers located in Ottawa, Canada and Gurgaon, 
India. We also lease smaller engineering facilities in the United States, Canada, and Europe. In addition, we lease 
various smaller offices in regions throughout the world to support our sales and services operations. We believe 
the facilities we are now using are adequate and suitable for our business requirements. 
Hanover, Maryland Headquarters Lease. We entered into an agreement dated November 3, 2011, with 
W2007 RDG Realty, L.L.C. relating to a 15-year lease of office space for our corporate headquarters in Hanover, 
Maryland, consisting of an agreed-upon rentable area of approximately 88,000 square feet. 
Ottawa Leases. On October 23, 2014, Ciena Canada, Inc. entered into an 18-year lease agreement for the 
office building located at 5050 Innovation Drive, Ottawa, Canada, consisting of a rentable area of approximately 
170,000 square feet. In addition, on April 15, 2015, Ciena Canada, Inc. entered into a 15-year lease agreement for 
two new office buildings adjacent to the building at 5050 Innovation Drive, located at 383 and 385 Terry Fox 
Drive, Ottawa, Canada, consisting of a rentable area of approximately 255,000 square feet. 
Gurgaon Leases. On August 13, 2020, Ciena India Pvt. Ltd. extended our rental agreement for five years for 
an office building located at Plot No. 13, Echelon Institutional Sector 32, Gurgaon, which is adjacent to another 
building rented by Ciena India Pvt. Ltd., located at Plot No. 14, Echelon Institutional Sector 32, Gurgaon. The 
Gurgaon offices consist of a rentable area of approximately 282,000 square feet. 
For additional information regarding our lease obligations, see Note 17 to our Consolidated Financial 
Statements included in Item 8 of Part II of this annual report. 
Item 3. Legal Proceedings 
The information set forth under the heading “Litigation” in Note 26 to our Consolidated Financial 
Statements included in Item 8 of Part II of this annual report, is incorporated herein by reference. 
Item 4. Mine Safety Disclosures 
Not applicable. 
53 

PART II 
Item 5. Market for Registrant’s Common Stock, Related Stockholder Matters and Issuer Purchases of Equity 
Securities 
(a) Our common stock is traded on the New York Stock Exchange under the stock symbol “CIEN.” 
As of December 13, 2024, there were approximately 652 holders of record of our common stock and 
142,115,595 shares of common stock outstanding. We have never paid cash dividends on our capital stock. We 
currently intend to retain earnings for use in our business, and we do not anticipate paying any cash dividends in 
the foreseeable future. 
Issuer Purchases of Equity Securities 
The following table provides a summary of repurchases of our common stock during the fourth quarter of fiscal 
2024: 
Period 
Total Number of 
Shares Purchased 
(1) 
Average Price 
Paid Per Share 
Total Number of 
Shares Purchased as 
Part of Publicly 
Announced Plans or 
Programs (1) 
Approximate Dollar 
Value of Shares that May 
Yet Be Purchased Under 
the Plans or Programs 
(in Thousands) 
July 28, 2024 to 
August 24, 2024 . . . .
—  
$ —  
—  
$131,985 
August 25, 2024 to 
September 28, 
2024 . . . . . . . . . . . . .
865,189 
$57.21 
865,189 
$ 82,489 
September 29, 2024 to 
November 2, 2024 . .
1,259,201 
$65.51 
1,259,201 
$
—  
Total . . . . . . . . . . .
2,124,390 
$62.13 
2,124,390 
 
(1) On December 9, 2021, we announced that our Board of Directors had authorized a program to repurchase up 
to $1.0 billion of our common stock. During the fourth quarter of fiscal 2024, we repurchased 
$132.0 million of our common stock under such stock repurchase program which completed the authorized 
repurchases contemplated thereunder. See “Management’s Discussion and Analysis of Financial Condition 
and Results of Operations – Liquidity and Capital Resources – Stock Repurchase Authorization” in Item 7 
of Part II of this annual report and Note 21 to our Consolidated Financial Statements included in Item 8 of 
Part II of this annual report for information regarding the stock repurchase programs authorized by our 
Board of Directors. 
Stock Performance Graph 
The following graph shows a comparison of cumulative total returns for an investment in our common 
stock, the S&P North American Technology-Multimedia Networking Index and the Russell 1000 Index from 
November 1, 2019 to November 1, 2024. The Russell 1000 Index comprises the stocks representing the 1,000 
largest publicly traded American companies as measured by market capitalization. The S&P North American 
Technology-Multimedia Networking Index includes stocks in the S&P Total Market Index that are classified 
under the Global Industry Classification Standard communications equipment sub-industry. This graph is not 
deemed to be “soliciting material” or “filed” with the SEC or subject to the liabilities of Section 18 of the 
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the graph shall not be deemed to be 
incorporated by reference into any prior or subsequent filing by us under the Securities Act of 1933, as amended, 
or the Exchange Act. 
54 

Comparison of 5-Year Cumulative Total Return Among Ciena Corporation, 
the S&P North American Technology-Multimedia Networking Index and the Russell 1000 Index 
Nov-01-2019
Nov-02-2024
May-01-2020
Oct-30-2020
Oct-29-2021
Oct-27-2023
Oct-28-2022
Apr-30-2021
Apr-29-2022
Apr-28-2023
Apr-27-2024
Ciena
Russell 1000 Index
S&P North American Technology Mulmedia Networking Index
200
180
160
140
120
100
80
 
The graph tracks the performance of a $100 investment in our common stock and in each of the indices on 
November 1, 2019 (with the subsequent reinvestment of all dividends at month end). This graph assumes $100 
invested in Ciena Corporation, the Russell 1000 and the S&P North American Technology-Multimedia 
Networking Index, respectively, on November 1, 2019 with all dividends reinvested at month-end. Stockholder 
returns over the indicated period are based on historical data and should not be considered indicative of future 
stockholder returns. 
(b) Not applicable. 
(c) Not applicable. 
Item 6. [Reserved] 
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 
The following discussion and analysis should be read in conjunction with our consolidated financial 
statements and notes thereto included elsewhere in this annual report. 
Overview 
We are a network technology company, providing hardware, software, and services to a wide range of 
network operators and enabling enhanced network capacity, service delivery, and automation. Our solutions 
support network traffic across a wide range of applications, including cloud, video, data, AI, and voice. Our 
network solutions are used globally by communications service providers, cable and multiservice operators, 
cloud providers, submarine network operators, governments, and enterprises across multiple industry verticals. 
Our portfolio is designed to enable the Adaptive Network™, which is our vision for a network end state that 
leverages a programmable and scalable network infrastructure, driven by software control and automation 
capabilities, that is informed by network analytics and intelligence. Our solutions include Networking Platforms, 
55 

including our Optical Networking portfolio and our Routing and Switching portfolio, which can be applied from 
the network core to end-user access points, and which allow network operators to scale capacity, increase 
transmission speeds, allocate traffic efficiently, and adapt dynamically to changing end-user service demands. To 
complement our Networking Platforms, we offer Platform Software, which includes our Navigator NCS and 
advanced applications that deliver multi-layer domain control and operations for network operators. Through our 
Blue Planet Automation Software, we also enable complete service lifecycle management automation with 
productized OSS, including inventory, orchestration and assurance solutions that help our customers to achieve 
closed loop automation across multi-vendor and multi-domain environments. 
Market Opportunity and Investment in Technology Innovation 
The market into which we sell our communications networking solutions is dynamic and characterized by a 
high rate of change, including rapid growth in bandwidth demand and network traffic, the proliferation of cloud-
based services and new approaches, or “consumption models,” for designing and procuring networking solutions. 
Drivers of increased bandwidth demand include enterprise and consumer cloud network adoption, generative AI, 
5G, high-definition video, and network operator focus on resilience and automation. To address these growing 
service demands and manage network cost, many network operators are looking to adopt next-generation 
infrastructures that are more programmable and better capable of leveraging data for network insight, analytics 
and automation. 
We believe that our investment capacity and our efforts to push the pace of innovation are important 
competitive differentiators in our markets. Keeping pace with the market’s demand for technology innovation 
requires considerable research and development investment capacity and expenditures, and research and 
development spending represented 19.1% of our operating expenses in fiscal 2024. During fiscal 2024, we 
invested $767.5 million in research and development activities, an increase of 2.3% compared to fiscal 2023. In 
particular, in an effort to capture certain market opportunities created by the impact of AI on networks, in fiscal 
2024 we continued to innovate, increase the performance of, and enhance the capabilities for our leading 
WaveLogic coherent modem technology in multiple form factors. Through this innovation we seek to extend our 
leadership in our core business and leverage this to expand our addressable market into complementary and 
adjacent network applications, including inside and around the data center. 
Our business strategy to capitalize on these market dynamics and investment opportunities also include the 
initiatives set forth in the “Strategy” section of the description of our business in Item 1 of Part I of this annual 
report. 
Fluctuation in Order Volumes and Impact on Fiscal 2024 Revenue 
During fiscal 2021 and fiscal 2022, we received an unprecedented volume of orders for our products and 
services. We believe some portion of these orders reflected customer acceleration of future orders due to long 
lead times during the constrained supply environment of that period, as well as orders that were delayed due to 
the dynamics of the COVID-19 pandemic. These order volumes resulted in significant revenue growth in fiscal 
2023. Our order volumes began to moderate in the fourth quarter of fiscal 2022, and we experienced order levels 
below revenue during fiscal 2023 and the first half of fiscal 2024, particularly from our communications service 
provider customers. We believe this was, in part, due to communications service providers in North America 
working through relatively high levels of inventory previously acquired, which was made more difficult due to 
challenges installing and deploying equipment. In addition, in certain international geographies, we believe that 
caution driven by macroeconomic concerns and market-specific issues contributed to lower-than-expected order 
volumes from communications service providers during fiscal 2024. As a result of these dynamics, our revenue 
for fiscal 2024 was lower than our revenue in fiscal 2023. Notwithstanding these recent dynamics and their 
impact on fiscal 2024 revenue, we continue to believe that certain trends and shifts in business and consumer 
behaviors and the drivers of bandwidth demand described above under “Market Opportunity and Investment in 
Technology Innovation” represent long-term opportunities for our business. 
56 

Fiscal Year-End Backlog 
Generally, we make sales pursuant to purchase orders placed by customers under framework agreements 
that govern the general commercial terms and conditions of the sale of our products and services. These 
agreements do not obligate customers to purchase any minimum or guaranteed order quantities. In calculating 
backlog, we only include (i) customer purchase orders for products that have not been shipped and for services 
that have not yet been performed; and (ii) customer orders relating to products that have been delivered and 
services that have been performed, but are awaiting customer acceptance under the applicable contract terms. 
Backlog may be fulfilled several quarters following receipt of a purchase order, or in the case of certain service 
obligations, may relate to multi-year support periods. 
Our backlog was $2.1 billion as of November 2, 2024, as compared to $2.6 billion as of October 28, 2023. 
Backlog includes product and service orders from commercial and government customers combined. Backlog at 
November 2, 2024 includes approximately $352.5 million primarily related to orders for products and services 
that are not expected to be filled or performed within fiscal 2025. Because backlog can be defined in different 
ways by different companies, our presentation of backlog may not be comparable with figures presented by other 
companies in our industry. In addition, our customers may cancel, delay or change their orders with limited 
advance notice, or they may decide not to accept our products and services. The timing of our fulfillment of 
backlog could cause some volatility in our results of operations. 
Stock Repurchase Program 
On October 2, 2024, we announced that our Board of Directors authorized a program to repurchase up to 
$1.0 billion of our common stock, commencing in fiscal 2025 and continuing through the end of fiscal 2027. 
Authorized purchases contemplated under our prior stock repurchase program, which was authorized in fiscal 
2022, were completed in fiscal 2024. The amount and timing of any further repurchases under our stock 
repurchase program are subject to a variety of factors including liquidity, cash flow, stock price and general 
business and market conditions. The program may be modified, suspended, or discontinued at any time. See 
Notes 21 and 27 to our Consolidated Financial Statements included in Item 8 of Part II of this annual report. 
Consolidated Results of Operations 
A discussion regarding our financial condition and results of operations for fiscal 2024 compared to fiscal 
2023 is presented below. A discussion of fiscal 2023 compared to fiscal 2022 can be found under Item 7 of Part 
II of our Annual Report on Form 10-K for the fiscal year ended October 28, 2023, filed with the SEC on 
December 15, 2023, which is available free of charge on the SEC’s website at www.sec.gov and our Investor 
Relations website at investor.ciena.com. 
Operating Segments 
Our results of operations are presented based on the following operating segments: (i) Networking 
Platforms; (ii) Platform Software and Services; (iii) Blue Planet Automation Software and Services; and 
(iv) Global Services. See Notes 2 and 24 to our Consolidated Financial Statements included in Item 8 of Part II of 
this annual report for more information on our segment reporting. 
57 

Fiscal 2024 Compared to Fiscal 2023 
Revenue 
Revenue and Currency Fluctuations 
As a result of the factors impacting order volumes described under “Overview” above, our revenue declined 
by 8.5% in fiscal 2024 as compared to fiscal 2023. In addition, during fiscal 2024, approximately 14.3% of our 
revenue was non-U.S. Dollar denominated, primarily including sales in Euros, Indian Rupees and Canadian 
Dollars. During fiscal 2024, as compared to fiscal 2023, the U.S. Dollar fluctuated against these and other 
currencies with minimal impact as compared to fiscal 2023. 
Operating Segment Revenue 
See Notes 2 and 24 to our Consolidated Financial Statements included in Item 8 of Part II of this annual 
report for more information on our segment reporting. The table below sets forth the changes in our operating 
segment revenue for the periods indicated (in thousands, except percentage data): 
 
Fiscal Year 
 
 
 
2024 
%* 
2023 
%* 
Increase 
(decrease) 
%** 
Revenue: 
 
 
 
 
 
 
Networking Platforms 
 
 
 
 
 
 
Optical Networking . . . . . . . . . . . . . . . . . . .
$2,642,563 
65.8 $2,987,245 
68.1 $(344,682) (11.5) 
Routing and Switching . . . . . . . . . . . . . . . . .
399,492 
10.0 
506,247 
11.5 
(106,755) (21.1) 
Total Networking Platforms . . . . . . . . .
3,042,055 
75.8 
3,493,492 
79.6 
(451,437) (12.9) 
Platform Software and Services . . . . . . . . . . . .
358,062 
8.9 
303,873 
6.9 
54,189 
17.8 
Blue Planet Automation Software and 
Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
77,619 
2.0 
69,170 
1.6 
8,449 
12.2 
Global Services 
 
 
 
 
 
 
Maintenance Support and Training . . . . . . .
303,086 
7.5 
288,334 
6.6 
14,752 
5.1 
Installation and Deployment . . . . . . . . . . . . .
184,358 
4.6 
180,951 
4.1 
3,407 
1.9 
Consulting and Network Design . . . . . . . . . .
49,775 
1.2 
50,729 
1.2 
(954) 
(1.9) 
Total Global Services . . . . . . . . . . . . . . . .
537,219 
13.3 
520,014 
11.9 
17,205 
3.3 
Consolidated revenue . . . . . . . . . . . . . . . . . . . . . .
$4,014,955 100.0 $4,386,549 100.0 $(371,594) 
(8.5) 
* 
Denotes % of total revenue 
** Denotes % change from 2023 to 2024 
•
Networking Platforms segment revenue decreased by $451.4 million, reflecting product line sales 
decreases of $344.7 million of our Optical Networking products and $106.7 million of our Routing and 
Switching products. 
•
Optical Networking sales decreased, primarily reflecting sales decreases of $470.3 million of our 
6500 Packet-Optical Platform primarily to communications service providers, enterprise 
customers, cable and multiservice operators, and cloud providers, and $17.2 million of our 5400 
family of Packet-Optical Platforms primarily to communications service providers. These sales 
decreases were partially offset by sales increases of $63.1 million primarily of our coherent 
pluggable transceivers, primarily to cloud providers, $45.2 million of our 6500 RLS products 
primarily to communications service providers, cable and multiservice operators and cloud 
providers, and $35.8 million of our Waveserver® products primarily to communications service 
providers, partially offset by sales decreases to enterprise customers and cloud providers. 
•
Routing and Switching sales decreased, primarily reflecting sales decreases of $103.8 million of 
our 3000 and 5000 families of service delivery and aggregation switches primarily to 
58 

communications service providers, cable and multiservice operators, and enterprise customers, 
$8.9 million of our 8700 Packetwave Platform, primarily to communications service providers and 
enterprise customers, $5.4 million of our virtualization software, primarily to communications 
service providers partially offset by increased sales to enterprise customers, and $4.3 million of 
our passive optical network (PON) products, primarily to communications service providers. 
These sales decreases were partially offset by sales increases of $8.7 million of our platform 
independent software, primarily to communications service providers and cloud providers, 
$4.8 million of our WaveRouter products, primarily to communications service providers, and 
$3.6 million of our 8100 Coherent IP networking platforms, primarily to enterprise customers and 
cloud providers. 
•
Platform Software and Services segment revenue increased by $54.2 million, reflecting sales 
increases of $32.3 million in sales of software platforms and $21.9 million in sales of our software 
maintenance services, both primarily for our Navigator NCS software platform. 
•
Blue Planet Automation Software and Services segment revenue increased by $8.4 million, 
primarily reflecting a sales increase of $11.4 million in professional software services primarily for our 
BPI and ROA platforms partially offset by a sales decrease of $2.9 million in software platforms. 
•
Global Services segment revenue increased by $17.2 million, primarily reflecting sales increases of 
$14.8 million of our maintenance support and training and $3.4 million of our installation and 
deployment services. 
Revenue by Geographic Region 
Our operating segments engage in business and operations across three geographic regions: Americas, 
EMEA, and APAC. The geographic distribution of our revenue can fluctuate significantly from period to period, 
and the timing of revenue recognition for large network projects, particularly outside of the United States, can 
result in large variations in geographic revenue results in any particular period. The decrease in our Americas 
region revenue for fiscal 2024 was primarily driven by decreased sales in Canada and the United States. The 
decrease in our APAC region revenue for fiscal 2024 was primarily driven by decreased sales in Australia, India, 
Singapore and South Korea. The increase in our EMEA region revenue for fiscal 2024 was partially offset by 
sales decreases in Great Britain and the Netherlands. The following table reflects our geographic distribution of 
revenue, which is principally based on the relevant location for the delivery of our products and performance of 
services. The table below sets forth the changes in geographic distribution of revenue for the periods indicated (in 
thousands, except percentage data): 
 
Fiscal Year 
 
 
 
2024 
%* 
2023 
%* 
Increase 
(decrease) 
%** 
Americas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$2,951,915 
73.5 $3,110,347 
70.9 $(158,432) 
(5.1) 
EMEA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
648,870 
16.2 
643,142 
14.7 
5,728 
0.9 
APAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
414,170 
10.3 
633,060 
14.4 
(218,890) (34.6) 
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$4,014,955 100.0 $4,386,549 100.0 $(371,594) 
(8.5) 
* 
Denotes % of total revenue 
** Denotes % change from 2023 to 2024 
•
Americas revenue decreased by $158.4 million, reflecting a sales decrease of $207.3 million within 
our Networking Platforms segment. This sales decrease was offset by sales increases of $40.4 million 
within our Platform Software and Services segment, $5.4 million within our Global Services segment, 
and $3.1 million within our Blue Planet Automation Software and Services segment. Our Networking 
Platforms segment revenue decrease reflects product line sales decreases of $126.9 million of Optical 
Networking products and $80.4 million of Routing and Switching products. Our Optical Networking 
59 

revenue primarily reflects a sales decrease of $248.7 million of our 6500 Packet-Optical Platform, 
primarily to communications service providers, enterprise customers, cable and multiservice operators, 
and cloud providers. This sales decrease was partially offset by sales increases of $57.1 million 
primarily of our coherent pluggable transceivers primarily to cloud providers, $55.4 million of our 
6500 RLS products primarily to cloud providers and cable and multiservice operators, and 
$19.5 million of our Waveserver® modular interconnect system, primarily to communications service 
providers partially offset by decreased sales to cloud providers. Routing and Switching product line 
sales primarily reflect a sales decrease of $83.9 million of our 3000 and 5000 families of service 
delivery and aggregation switches to communications service providers, cable and multiservice 
operators, and enterprise customers. 
•
EMEA revenue increased by $5.7 million, primarily reflecting sales increases of $12.2 million within 
our Global Services segment and $5.5 million within our Platform Software and Services segment. 
These sales increases were partially offset by a sales decrease of $10.9 million within our Networking 
Platforms segment. 
•
APAC revenue decreased by $218.9 million, primarily reflecting a sales decrease of $233.2 million 
within our Networking Platforms segment. This sales decrease was partially offset by sales increases of 
$8.3 million within our Platform Software and Services segment and $6.4 million within our Blue 
Planet Automation Software and Services segment. Our Networking Platforms segment revenue 
decrease primarily reflects a product line sales decrease of $237.0 million of Optical Networking 
products, including a sales decrease of $198.3 million of our 6500 Packet-Optical Platform, primarily 
to communications service providers and enterprise customers. 
In fiscal 2024 and fiscal 2023, our top ten customers contributed 57.9% and 53.7% of our revenue, 
respectively. Consequently, our financial results are closely correlated with the spending of a relatively small 
number of customers and can be significantly affected by market, industry or competitive dynamics affecting the 
businesses of those customers. Our reliance on a relatively small number of customers increases our exposure to 
changes in their spending levels, network priorities and purchasing strategies. The loss of a significant customer 
could have a material adverse effect on our business and results of operations, and our results of operations can 
fluctuate quarterly depending on sales volumes and purchasing priorities with these large customers. Sales to one 
of our cloud provider customers were $532.3 million, or 13.3% of total revenue, in fiscal 2024 and 
$561.4 million or 12.8% of total revenue, in fiscal 2023. Sales to AT&T were $475.3 million, or 11.8% of total 
revenue, in fiscal 2024, and $464.7 million, or 10.6% of total revenue, in fiscal 2023. No other customer 
accounted for greater than 10% of our revenue in fiscal 2024 or fiscal 2023. 
While drivers of bandwidth growth and network evolution remain strong, many of our service provider 
customers are under pressure to constrain their capital expenditure budgets, and their businesses cannot grow 
their network spending at the rate of bandwidth growth. As a result, as we innovate and introduce new and more 
robust solutions that increase capacity or add features, there is a market expectation for solutions that are more 
cost-effective than existing or competing solutions and that new products consistently deliver lower price per bit 
performance. The combination of this regular technology-driven price compression, price competition in our 
markets, and ongoing customer efforts to manage network costs can impact our growth rates and requires that we 
increase our volume of product shipments to maintain and grow revenue. 
Cost of Goods Sold and Gross Profit 
Product cost of goods sold consists primarily of amounts paid to third-party contract manufacturers, 
component costs, employee-related costs and overhead, shipping and logistics costs associated with 
manufacturing-related operations, warranty and other contractual obligations, royalties, license fees, amortization 
of intangible assets, cost of excess and obsolete inventory and, when applicable, estimated losses on committed 
customer contracts. 
60 

Services cost of goods sold consists primarily of direct and third-party costs associated with our provision of 
services including installation, deployment, maintenance support, consulting and training activities, and, when 
applicable, estimated losses on committed customer contracts. The majority of these costs relate to personnel, 
including employee and third-party contractor-related costs. 
Our gross profit as a percentage of revenue, or “gross margin,” can fluctuate due to a number of factors, 
particularly when viewed on a quarterly basis. Our gross margin can fluctuate and be adversely impacted 
depending on our revenue concentration within a particular segment, product line, geography, or customer, as 
well as our success in selling software in a particular period. Our gross margin remains highly dependent on our 
continued ability to drive annual product cost reductions relative to the price erosion that we regularly encounter 
in our markets. Moreover, we are often required to compete with aggressive pricing and commercial terms, and, 
to secure business with new and existing customers, we may agree to pricing or other unfavorable commercial 
terms that adversely affect our gross margin. Success in gaining market share and winning new business can 
result in additional pressure on gross margin from these pricing dynamics and the early stages of these network 
deployments. Early stages of new network builds also often include an increased concentration of lower margin 
“common” equipment, photonics sales and installation services, with the intent to improve margin as we sell 
channel cards and maintenance services to customers as they add capacity and need to monitor their networks. 
Gross margin can be impacted by technology-based price compression and the introduction or substitution of 
new platforms with improved price for performance as compared to existing solutions that carry higher margins. 
Gross margin can also be impacted by changes in expense for excess and obsolete inventory and warranty 
obligations. 
Service gross margin can be affected by the mix of customers and services, particularly the mix between 
deployment and maintenance services, geographic mix and the timing and extent of any investments in internal 
resources to support this business. 
The tables below set forth the changes in revenue, cost of goods sold and gross profit for the periods 
indicated (in thousands, except percentage data): 
 
Fiscal Year 
 
 
 
2024 
%* 
2023 
%* 
Increase 
(decrease) 
%** 
Total revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$4,014,955 100.0 $4,386,549 100.0 $(371,594) (8.5) 
Total cost of goods sold . . . . . . . . . . . . . . . . . . . . .
2,295,365 
57.2 
2,507,698 
57.2 
(212,333) (8.5) 
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$1,719,590 
42.8 $1,878,851 
42.8 $(159,261) (8.5) 
* 
Denotes % of total revenue 
** Denotes % change from 2023 to 2024 
 
Fiscal Year 
 
 
 
2024 
%* 
2023 
%* 
Increase 
(decrease) 
%** 
Product revenue . . . . . . . . . . . . . . . . . . . . . . . . . .
$3,159,021 100.0 $3,581,039 100.0 $(422,018) (11.8) 
Product cost of goods sold . . . . . . . . . . . . . . . . . .
1,861,317 
58.9 
2,088,440 
58.3 
(227,123) (10.9) 
Product gross profit . . . . . . . . . . . . . . . . . . . . . . .
$1,297,704 
41.1 $1,492,599 
41.7 $(194,895) (13.1) 
* 
Denotes % of product revenue 
** Denotes % change from 2023 to 2024 
61 

 
Fiscal Year 
 
 
 
2024 
%* 
2023 
%* 
Increase 
(decrease) 
%** 
Services revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$855,934 100.0 $805,510 100.0 $50,424 
6.3 
Services cost of goods sold . . . . . . . . . . . . . . . . . . . . . . .
434,048 
50.7 
419,258 
52.0 
14,790 
3.5 
Services gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$421,886 
49.3 $386,252 
48.0 $35,634 
9.2 
* 
Denotes % of service revenue 
** Denotes % change from 2023 to 2024 
•
Gross profit decreased by $159.3 million. Gross margin for fiscal 2024 compared to fiscal 2023 
remained consistent, primarily reflecting slightly decreased product margin offset by increased services 
margin. 
•
Gross profit on products decreased by $194.9 million. Product gross margin slightly decreased by 60 
basis points, primarily due to a higher concentration of lower margin product mix and higher inventory 
excess and obsolescence costs partially offset by product cost reductions and improved manufacturing 
efficiencies. 
•
Gross profit on services increased by $35.6 million. Service gross margin increased by 130 basis 
points, primarily due to improved margins on Blue Planet software services due to improved 
efficiencies on delivery, partially offset by lower margins on maintenance support and training. 
Operating Expense 
Currency Fluctuations 
During fiscal 2024, approximately 48.7% of our operating expense was non-U.S. Dollar denominated, 
including Canadian Dollars, Indian Rupees, and Euros. During fiscal 2024 as compared to fiscal 2023, the 
U.S. Dollar primarily strengthened against these and other currencies with minimal impact as compared to fiscal 
2023. 
Operating expense increased in fiscal 2024 from the level reported for fiscal 2023, primarily due to 
increases in employee headcount. We have also experienced, and are continuing to experience, increases in the 
cost of labor and other costs of doing business due to inflation, and continued inflationary pressures could have 
an adverse impact on our profitability. We expect operating expense to continue to increase from the level 
reported in fiscal 2024 primarily due to planned investment in research and development to advance our strategy 
and higher employee compensation costs. 
Operating expense consists of the component elements described below. 
•
Research and development expense primarily consists of salaries and related employee expense 
(including share-based compensation expense), prototype costs relating to design, development, 
product testing, depreciation expense, and third-party consulting costs. 
•
Selling and marketing expense primarily consists of salaries, commissions and related employee 
expense (including share-based compensation expense) and sales and marketing support expense, 
including travel, demonstration units, trade show expense, and third-party consulting costs. 
•
General and administrative expense primarily consists of salaries and related employee expense 
(including share-based compensation expense) and costs for third-party consulting and other services. 
•
Significant asset impairments and restructuring costs primarily reflect actions we have taken to 
improve the alignment of our workforce, facilities and operating costs with perceived market 
opportunities, business strategies, changes in market and business conditions, the redesign of certain 
business processes and significant impairments of assets. 
62 

•
Amortization of intangible assets primarily reflects the amortization of both purchased technology and 
the value of customer relationships derived from our acquisitions. 
•
Acquisition and integration costs primarily consist of expenses for financial, legal and accounting 
advisors and severance and other employee-related costs, associated with our acquisition activity. For 
more information on our acquisitions, see Note 3 to our Consolidated Financial Statements included in 
Item 8 of Part II of this annual report. 
The table below sets forth the changes in operating expense for the periods indicated (in thousands, except 
percentage data): 
 
Fiscal Year 
 
 
 
2024 
%* 
2023 
%* 
Increase 
(decrease) 
%** 
Research and development . . . . . . . . . . . . . . . . . . . .
$ 767,497 19.1 $ 750,559 17.1 $16,938 
2.3 
Selling and marketing . . . . . . . . . . . . . . . . . . . . . . . .
510,668 12.7 
490,804 11.2 
19,864 
4.0 
General and administrative . . . . . . . . . . . . . . . . . . . .
220,647 
5.5 
215,284 
4.9 
5,363 
2.5 
Significant asset impairments and restructuring 
costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24,592 
0.6 
23,834 
0.5 
758 
3.2 
Amortization of intangible assets . . . . . . . . . . . . . . .
29,569 
0.7 
37,351 
0.9 
(7,782) 
(20.8) 
Acquisition and integration costs . . . . . . . . . . . . . . . .
—  
—  
3,474 
0.1 
(3,474) (100.0) 
Total operating expenses . . . . . . . . . . . . . . . . . . . . . .
$1,552,973 38.6 $1,521,306 34.7 $31,667 
2.1 
* 
Denotes % of total revenue 
** Denotes % change from 2023 to 2024 
•
Research and development expense increased by $16.9 million, net of hedging. This increase 
primarily reflects increases in employee-related compensation costs, partially due to higher headcount 
and increases in salary and share-based compensation costs. In addition, facility, information 
technology costs and other technology related costs increased, partially offset by decreased 
professional services and a lower provision associated with our annual cash incentive compensation 
plan. 
•
Selling and marketing expense increased by $19.9 million. This increase primarily reflects increases 
in employee-related compensation costs due to higher variable compensation and share-based 
compensation, and increases in travel and entertainment costs. 
•
General and administrative expense expense increased by $5.4 million. This increase primarily 
reflects increases in employee-related compensation costs, primarily due to increases in salary and 
share-based compensation costs. In addition, facility and information technology costs increased, 
partially offset by a lower provision associated with our annual cash incentive compensation plan. 
•
Significant asset impairments and restructuring costs slightly increased, primarily reflecting an 
increase in workforce reduction costs of $8.5 million, partially offset by a decline of $7.7 million in 
costs associated with actions to redesign certain business processes associated with our supply chain 
and distribution structure reorganization and costs related to restructured real estate facilities. For more 
information on our restructuring costs, see Note 4 to our Consolidated Financial Statements included in 
Item 8 of Part II of this annual report. 
•
Amortization of intangible assets decreased by $7.8 million primarily reflecting certain intangible 
assets having reached the end of their economic lives. 
•
Acquisition and integration costs in fiscal 2023 reflect financial, legal, and accounting advisors and 
employee-related costs related to our acquisitions of Benu Networks (“Benu”) and Tibit 
Communications, Inc. (“Tibit”) during the first quarter of fiscal 2023. 
63 

Other Items 
The table below sets forth the changes in other items for the periods indicated (in thousands, except 
percentage data): 
 
Fiscal Year 
 
 
 
2024 
%* 
2023 
%* 
Increase 
(decrease) 
%** 
Interest and other income, net . . . . . . . . . . . . . . . . . . . . . .
$ 50,261 
1.3 $ 62,008 
1.4 $(11,747) 
(18.9) 
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$(97,028) (2.4) $(88,026) (2.0) $
9,002 
10.2 
Loss on extinguishment and modification of debt . . . . . .
$
—  
—  $ (7,874) (0.2) $ (7,874) (100.0) 
Provision for income taxes . . . . . . . . . . . . . . . . . . . . . . . .
$ 35,894 
0.9 $ 68,826 
1.6 $(32,932) 
(47.8) 
* 
Denotes % of total revenue 
** Denotes % change from 2023 to 2024 
•
Interest and other income, net decreased by $11.7 million, primarily resulting from the 
remeasurement of our previously held investment in Tibit to fair value, in fiscal 2023, which resulted in 
a gain on our equity investment of $26.5 million and the impact of foreign exchange rates on assets and 
liabilities denominated in a currency other than the relevant functional currency, net of hedging 
activity. These decreases were partially offset by higher interest income on our investments. For more 
information on our acquisition of Tibit, see Note 3 to our Consolidated Financial Statements included 
in Item 8 of Part II of this annual report. 
•
Interest expense increased, primarily due to higher interest rates on our floating rate debt, net of 
hedging activity, and additional outstanding indebtedness, including the 2030 Term Loan incurred in 
the first quarter of fiscal 2023. For more information on our short-term and long-term debt, see Note 18 
to our Consolidated Financial Statements included in Item 8 of Part II of this annual report. 
•
Loss on extinguishment and modification of debt primarily reflects $1.9 million of extinguishment 
of debt costs and $6.0 million in debt modification costs, both related to our term loan refinancing 
which occurred in the fourth quarter of fiscal 2023. For more information, see Note 18 to our 
Consolidated Financial Statements included in Item 8 of Part II of this annual report. 
•
Provision for income taxes decreased by $32.9 million, primarily due to the decrease in pre-tax 
income in fiscal 2024. Similarly, the effective tax rate for fiscal 2024 was higher than the effective tax 
rate for fiscal 2023, primarily due to the decrease in pre-tax income. 
Segment Profit (Loss) 
The table below sets forth the changes in our segment profit (loss) for the respective periods (in thousands, 
except percentage data): 
 
Fiscal Year 
 
 
2024 
2023 
Increase 
(decrease) 
%* 
Segment profit (loss): 
 
 
 
 
Networking Platforms . . . . . . . . . . . . . . . . . . . . . . . .
$536,510 
$778,641 
$(242,131) 
(31.1) 
Platform Software and Services . . . . . . . . . . . . . . . .
$231,900 
$186,945 
$
44,955 
24.0 
Blue Planet Automation Software and Services . . . .
$ (11,892) 
$ (33,669) 
$
21,777 
64.7 
Global Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$195,575 
$196,375 
$
(800) 
(0.4) 
* Denotes % change from 2023 to 2024 
•
Networking Platforms segment profit decreased by $242.1 million, primarily due to lower product 
sales volume and lower product margin, as described above and increased research and development 
costs. 
64 

•
Platform Software and Services segment profit increased by $45.0 million, primarily due to higher 
sales volume as described above, partially offset by increased research and development costs. 
•
Blue Planet Automation Software and Services segment loss decreased by $21.8 million, primarily 
due to higher gross margin on software-related services, increased sales volume, as described above, 
and decreased research and development costs. 
•
Global Services segment profit decreased slightly by $0.8 million, primarily due to lower gross 
margin on maintenance support and training partially offset by higher sales volume, as described 
above. 
Liquidity and Capital Resources 
Overview. For the fiscal year ended November 2, 2024, we generated $514.5 million of cash from 
operations. Net income (adjusted for non-cash charges) provided cash of $411.8 million and our working capital 
provided cash of $102.7 million. For additional details on our cash provided by operating activities, see the 
discussion below under the caption “Cash Provided by Operating Activities.” 
Cash, cash equivalents and investments increased by $82.5 million during fiscal 2024. Cash from operations 
was partially offset by the following: (i) cash used for stock repurchases under our stock repurchase program of 
$254.5 million; (ii) cash used to fund our investing activities for capital expenditures totaling $136.6 million; 
(iii) stock repurchased upon vesting of our stock unit awards to employees relating to tax withholding of 
$46.6 million; (iv) cash used for our purchase of an equity investment in a privately held technology company of 
$21.7 million; and (v) cash used for payments on our term loan due October 28, 2030 (the “2030 New Term 
Loan”) of $11.7 million. In addition to cash provided by operations, the issuance of equity under our employee 
stock purchase plans provided $34.3 million in cash during fiscal 2024. 
See Notes 18 and 21 to our Consolidated Financial Statements included in Item 8 of Part II of this annual 
report for information relating to these transactions. 
The following table sets forth changes in our cash and cash equivalents and investments in marketable debt 
securities (in thousands): 
 
November 2, 2024 
October 28, 2023 
Increase (decrease) 
Cash and cash equivalents . . . . . . . . .
$ 934,863 
$1,010,618 
$ (75,755) 
Short-term investments in marketable 
debt securities . . . . . . . . . . . . . . . . .
316,343 
104,753 
211,590 
Long-term investments in marketable 
debt securities . . . . . . . . . . . . . . . . .
80,920 
134,278 
(53,358) 
Total cash and cash equivalents and 
investments in marketable debt 
securities . . . . . . . . . . . . . . . . . . . . .
$1,332,126 
$1,249,649 
$ 82,477 
Principal Sources of Liquidity. Our principal sources of liquidity include our cash, cash equivalents and 
investments, which as of November 2, 2024 totaled $1.3 billion, as well as the unused portion of the Revolving 
Credit Facility (as defined in Note 19 to our Consolidated Financial Statements included in Item 8 of Part II of this 
annual report). The Revolving Credit Facility, which we and certain of our subsidiaries entered into on October 24, 
2023, replaced the ABL Credit Facility (as defined in Note 19 to our Consolidated Financial Statements included in 
Item 8 of Part II of this annual report) and provides for a total commitment of $300.0 million with a maturity date of 
October 24, 2028. We principally use the Revolving Credit Facility to support the issuance of letters of credit that 
arise in the ordinary course of our business and for general corporate purposes. As of November 2, 2024, letters of 
credit totaling $59.1 million were outstanding under our Revolving Credit Facility. There were no borrowings 
outstanding under the Revolving Credit Facility as of November 2, 2024. 
65 

Foreign Liquidity. The amount of cash, cash equivalents and short-term investments held by our foreign 
subsidiaries was $161.7 million as of November 2, 2024. Approximately $93.0 million of future cash generated 
from these foreign subsidiaries is expected to be repatriated, with any remaining amount continuing to be 
indefinitely reinvested. A deferred tax liability related to the expected repatriation amount was accrued in fiscal 
2023. There are no other significant temporary differences related to our investment in the foreign subsidiaries 
for which a deferred tax liability has not been recognized. See Note 22 to our Consolidated Financial Statements 
included in Item 8 of Part II of this annual report. 
Stock Repurchase Authorization. On December 9, 2021, we announced that our Board of Directors authorized 
a program to repurchase up to $1.0 billion of our common stock. During fiscal 2024, we repurchased an additional 
$250.0 million of our common stock under the stock repurchase program, which completed the authorized 
repurchases contemplated under the current program. On October 2, 2024, we announced that our Board of 
Directors authorized a program to repurchase up to $1.0 billion of our common stock, commencing in fiscal 2025 
and continuing through the end of fiscal 2027. The amount and timing of any further repurchases under our stock 
repurchase program are subject to a variety of factors including liquidity, cash flow, stock price and general 
business and market conditions. The program may be modified, suspended, or discontinued at any time. See Notes 
21 and 27 to our Consolidated Financial Statements included in Item 8 of Part II of this annual report. 
Liquidity Position. Based on past performance and current expectations, we believe that cash from 
operations, cash, cash equivalents, investments, and other sources of liquidity, including our Revolving Credit 
Facility, will satisfy our currently anticipated working capital needs, capital expenditures, and other liquidity 
requirements associated with our operations through the next 12 months and the reasonably foreseeable future. 
We regularly evaluate our liquidity position, debt obligations, and anticipated cash needs to fund our operating or 
investment plans, and we will continue to consider capital raising and other market opportunities that may be 
available to us. We regularly evaluate alternatives to manage our capital structure and market opportunities to 
enhance our liquidity and provide further operational and strategic flexibility. 
Cash Provided by Operating Activities 
The following sections set forth the components of our $514.5 million of cash provided by operating 
activities for fiscal 2024: 
Net Income (adjusted for non-cash charges) 
The following table sets forth our net income (adjusted for non-cash charges) during fiscal 2024 (in 
thousands): 
 
Year Ended 
November 2, 2024 
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 83,956 
Adjustments for non-cash charges: 
 
Depreciation of equipment, building, furniture 
and fixtures, and amortization of leasehold 
improvements . . . . . . . . . . . . . . . . . . . . . . . . . .
92,846 
Share-based compensation costs . . . . . . . . . . . . . .
156,404 
Amortization of intangible assets . . . . . . . . . . . . .
40,624 
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(76,810) 
Provision for inventory excess and 
obsolescence . . . . . . . . . . . . . . . . . . . . . . . . . . .
77,341 
Provision for warranty . . . . . . . . . . . . . . . . . . . . . .
25,643 
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11,768 
Net income (adjusted for non-cash charges) . . . . . . . . .
$411,772 
66 

Working Capital 
The following table sets forth the major components of the cash provided by working capital (in thousands): 
 
Year Ended 
November 2, 2024 
Cash provided by accounts receivable . . . . . . . . . . . . .
$
80,313 
Cash provided by inventories . . . . . . . . . . . . . . . . . . . .
153,021 
Cash used in prepaid expenses and other . . . . . . . . . . .
(198,910) 
Cash provided by accounts payable, accruals and other 
obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
64,255 
Cash provided by deferred revenue . . . . . . . . . . . . . . . .
9,884 
Cash used in operating lease assets and liabilities, 
net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5,803) 
Total cash provided by working capital . . . . . . . . . . . .
$ 102,760 
As compared to the end of fiscal 2023: 
•
The $80.3 million of cash provided by accounts receivable during fiscal 2024 primarily reflects lower 
sales volume and favorable cash collections during fiscal 2024; 
•
The $153.0 million of cash provided by inventory during fiscal 2024 primarily reflects the consumption 
of raw materials in excess of purchases. See Note 9 to our Consolidated Financial Statements included 
in Item 8 of Part II of this annual report; 
•
The $198.9 million of cash used in prepaid expenses and other during fiscal 2024 primarily reflects 
refundable cash advances to a third-party contract manufacturer and higher maintenance spares. See 
Note 10 to our Consolidated Financial Statements included in Item 8 of Part II of this annual report for 
information relating to the refundable cash advances to a third-party contract manufacturer; 
•
The $64.3 million of cash provided by accounts payable, accruals and other obligations during fiscal 
2024 reflects the timing of payments to suppliers and income taxes; 
•
The $9.9 million of cash provided by deferred revenue during fiscal 2024 represents an increase in 
advanced payments received on multi-year maintenance contracts from customers prior to revenue 
recognition; and 
•
The $5.8 million of cash used in operating lease assets and liabilities, net, during fiscal 2024 represents 
cash paid for operating lease payments in excess of operating lease costs. For more details, see Note 17 
to our Consolidated Financial Statements included in Item 8 of Part II of this annual report. 
Our days sales outstanding (“DSOs”) were 96 for fiscal 2024, as compared to 95 for fiscal 2023. The 
calculation of DSOs includes accounts receivable, net and contract assets for unbilled receivables, net included in 
prepaid expenses and other. Our inventory turns increased from 2.0 during fiscal 2023 to 2.3 during fiscal 2024. 
Cash Paid for Interest, Net 
The following table sets forth the cash paid for interest, net during fiscal 2024 (in thousands): 
 
Year Ended 
November 2, 2024 
2030 New Term Loan due October 28, 2030(1) . . . . . . .
$ 85,835 
2030 Senior Notes due January 31, 2030(2) . . . . . . . . . .
16,000 
Interest rate swaps(3) . . . . . . . . . . . . . . . . . . . . . . . . . . .
(14,868) 
Revolving Credit Facility(4) . . . . . . . . . . . . . . . . . . . . . .
1,781 
Finance leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3,767 
Cash paid during period . . . . . . . . . . . . . . . . . . . . . . . .
$ 92,515 
67 

(1) 
Interest on the 2030 New Term Loan is payable periodically based on the interest period selected for 
borrowing. The 2030 New Term Loan bears interest at SOFR for the chosen borrowing period plus a spread 
of 2.00% subject to a minimum SOFR rate of 0.00%. At the end of fiscal 2024, the interest rate on the 2030 
New Term Loan was 6.76%. 
(2) 
The 2030 Senior Notes bear interest at a rate of 4.00% per annum and mature on January 31, 2030. Interest 
on the 2030 Notes is payable semiannually on January 31 and July 31 of each year. 
(3) 
Our interest rate swaps fix the SOFR rate for $350.0 million of our Term Loans at 3.47% through January 
2028 and another $350.0 million of our Term Loans at 2.968% through September 2025. 
(4) 
During fiscal 2024, we utilized the Revolving Credit Facility to issue certain standby letters of credit and 
paid nominal commitment fees, interest expense and other administrative charges primarily relating to the 
Revolving Credit Facility. 
For additional information about our debt, revolving credit facilities and interest rate swaps, see Notes 15, 
18 and 19 to our Consolidated Financial Statements included in Item 8 of Part II of this annual report and 
Item 7A of Part II of this annual report. 
Contractual Obligations 
Debt. As of November 2, 2024, we had $1.2 billion outstanding principal associated with our 2030 New 
Term Loan, with $11.7 million maturing within 12 months. Interest payments on the 2030 New Term Loan and 
payments to be received under the interest rate swaps are variable and are calculated using the interest rate in 
effect as of November 2, 2024. Future interest payments associated with the 2030 New Term Loan totaled 
$462.8 million, with $78.9 million payable within 12 months. As of November 2, 2024, we had $400.0 million 
outstanding principal associated with the 2030 Notes payable January 31, 2030. Future interest payments 
associated with the 2030 Notes totaled $88.0 million, with $16.0 million payable within 12 months. Future 
interest payments to be received net of payments under the interest rate swaps totaled $37.7 million, with 
$10.8 million to be received within 12 months. For additional information about our short-term and long-term 
debt and interest rate swaps, see Notes 15 and 18 to our Consolidated Financial Statements included in Item 8 of 
Part II of this annual report and Item 7A of Part II of this annual report. 
Purchase Order Obligations. As of November 2, 2024, we had $1.7 billion in outstanding purchase order 
commitments to our contract manufacturers and component suppliers for inventory. In certain instances, we are 
permitted to cancel, reschedule or adjust these orders. Consequently, only a portion of this amount relates to firm, 
non-cancelable and unconditional obligations. 
Leases. We have lease arrangements for facilities including research and development centers, engineering 
facilities and smaller offices in regions throughout the world to support sales and services operations. Office 
facilities are leased under various non-cancelable operating or finance leases. As of November 2, 2024, we had 
fixed lease payment obligations of $106.7 million, with $23.4 million payable within 12 months. See Note 17 to 
our Consolidated Financial Statements included in Item 8 of Part II of this annual report. 
Off-Balance Sheet Arrangements 
We do not engage in any off-balance sheet financing arrangements. In particular, we do not have any equity 
interests in so-called limited purpose entities, which include special purpose entities (SPEs) and structured 
finance entities. 
Critical Accounting Policies and Estimates 
The preparation of our consolidated financial statements requires that we make estimates and judgments that 
affect the reported amounts of assets, liabilities, revenue and expense, and related disclosure of contingent assets 
and liabilities. Note 1 to our Consolidated Financial Statements included in Item 8 of Part II of this annual report 
68 

describes the significant accounting policies and methods used in the preparation of the Consolidated Financial 
Statements. By their nature, these estimates and judgments are subject to an inherent degree of uncertainty. On an 
ongoing basis, we reevaluate our estimates, including those related to revenue recognition, share-based 
compensation, bad debts, inventories, intangible and other long-lived assets, goodwill, income taxes, warranty 
obligations, restructuring, derivatives and hedging, and contingencies and litigation. We base our estimates on 
historical experience and on various other assumptions that we believe to be reasonable. Among other things, 
these estimates form the basis for judgments about the carrying values of assets and liabilities that are not readily 
apparent from other sources. Actual results may differ materially from these estimates under different 
assumptions or conditions. To the extent that there are material differences between our estimates and actual 
results, our consolidated financial statements will be affected. 
We believe that the following critical accounting policies reflect those areas where significant judgments 
and estimates are used in the preparation of our consolidated financial statements. 
Revenue Recognition 
Revenue is allocated among performance obligations based on standalone selling price (“SSP”). SSP 
reflects the price at which we would expect to sell that product or service on a stand-alone basis at contract 
inception and that we would expect to be entitled to receive for the promised products or services. SSP is 
estimated for each distinct performance obligation and judgment may be required in its determination. The best 
evidence of SSP is the observable price of a product or service when we sell the products separately in similar 
circumstances and to similar customers. In instances where SSP is not directly observable, we determine SSP 
using information that may include market conditions and other observable inputs. 
We apply judgment in determining the transaction price, as we may be required to estimate variable 
consideration when determining the amount of revenue to recognize. Variable consideration can include various 
rebate, cooperative marketing, and other incentive programs that we offer to our distributors, partners and 
customers. When determining the amount of revenue to recognize, we estimate the expected usage of these 
programs, applying the expected value or most likely estimate and updates the estimate at each reporting period 
as actual utilization data becomes available. We also consider any customer right of return and any actual or 
potential payment of liquidated damages, contractual or similar penalties, or other claims for performance 
failures or delays in determining the transaction price, where applicable. 
When transfer of control is judged to be over time for installation and professional service arrangements, we 
apply the input method to determine the amount of revenue to be recognized in a given period. Utilizing the input 
method, we recognize revenue based on the ratio of actual costs incurred to date to the total estimated costs 
expected to be incurred. Revenue for software subscription and maintenance is recognized ratably over the period 
during which the services are performed. 
Our total deferred revenue for products was $19.0 million and $28.4 million as of November 2, 2024 and 
October 28, 2023, respectively. Our services revenue is deferred and recognized ratably over the period during 
which the services are to be performed. Our total deferred revenue for services was $218.6 million and 
$200.1 million as of November 2, 2024 and October 28, 2023, respectively. 
Business Combinations 
We record acquisitions using the purchase method of accounting. The assets acquired, liabilities assumed, 
contractual contingencies and contingent consideration are recognized at their fair value as of the acquisition 
date. The excess of the purchase price over the estimated fair values of the net tangible and net intangible assets 
acquired is recorded as goodwill. The application of the purchase method of accounting for business 
combinations requires management to make significant estimates and assumptions in the determination of the fair 
value of assets acquired and liabilities assumed in order to allocate purchase price consideration properly 
69 

between assets that are depreciated and amortized from goodwill. These assumptions and estimates include a 
market participant’s use of the asset and the appropriate discount rates for a market participant. Our estimates are 
based on historical experience, information obtained from the management of the acquired companies and, when 
appropriate, include assistance from independent third-party appraisal firms. Our significant assumptions and 
estimates can include, but are not limited to, the cash flows that an asset is expected to generate in the future, the 
appropriate weighted-average cost of capital, and the cost savings expected to be derived from acquiring an asset. 
These estimates are inherently uncertain and unpredictable. In addition, unanticipated events and circumstances 
may occur that may affect the accuracy or validity of such estimates. During fiscal 2022, we completed the 
acquisitions of AT&T’s Vyatta Software Technology (“Vyatta”) and Xelic, Inc. (“Xelic”) for an aggregate 
purchase price of $64.1 million. During fiscal 2023, we completed the acquisitions of Benu and Tibit for an 
aggregate purchase price of $291.7 million. See Note 3 to our Consolidated Financial Statements included in 
Item 8 of Part II of this annual report for more information regarding these transactions. 
Share-Based Compensation 
We estimate the fair value of our restricted stock unit (“RSU”) awards based on the fair value of our 
common stock on the date of grant. Our outstanding RSU awards are subject to service-based vesting conditions 
and/or performance-based vesting conditions. We recognize the estimated fair value of service-based awards as 
share-based expense ratably over the vesting period on a straight-line basis. Awards with performance-based 
vesting conditions require the achievement of certain financial or other performance criteria or targets as a 
condition to the vesting, or acceleration of vesting. We recognize the estimated fair value of performance-based 
awards as share-based expense over the performance period, using graded vesting, which considers each 
performance period or tranche separately. At the end of each reporting period, for performance based awards not 
subject to total stockholder return, we reassess the probability of achieving the performance targets and the 
performance period required to meet those targets, and the expense is adjusted accordingly. Determining whether 
the performance targets will be achieved involves judgment, and the estimate of expense may be revised 
periodically based on changes in the probability of achieving the performance targets. Revisions are reflected in 
the period in which the estimate is changed. If any performance goals are not met, no compensation cost is 
ultimately recognized against that goal and, to the extent previously recognized, compensation cost is reversed. 
Share-based compensation expense is taken into account based on awards granted. In the event of a 
forfeiture of an award, the expense related to the unvested portion of that award is reversed. Reversal of share-
based compensation expense based on forfeitures can materially affect the measurement of estimated fair value 
of our share-based compensation. See Note 23 to our Consolidated Financial Statements included in Item 8 of 
Part II of this annual report for information regarding our assumptions related to share-based compensation and 
the amount of share-based compensation expense we incurred for the periods covered in this annual report. As of 
November 2, 2024, total unrecognized compensation expense was $212.9 million, which relates to unvested 
RSUs and is expected to be recognized over a weighted-average period of 1.33 years. 
We are required to record excess tax benefits or tax deficiencies related to stock-based compensation as 
income tax benefit or expense when share-based awards vest or are settled. 
Reserve for Inventory Obsolescence 
We make estimates about future customer demand for our products when establishing the appropriate 
reserve for excess and obsolete inventory. For fiscal 2024 and fiscal 2023, future demand was calculated using 
both customer backlog and future forecasted sales. Generally, our customers may cancel or change their orders 
with limited advance notice, or they may decide not to accept our products and services. We write down 
inventory that has become obsolete or unmarketable by an amount equal to the difference between the cost of 
inventory and the estimated net realizable value based on assumptions about future demand, which are affected 
by changes in our strategic direction, discontinuance of a product or introduction of newer versions of our 
products, declines in the sales of or forecasted demand for certain products, and general market conditions. 
70 

Inventory write downs are a component of our product cost of goods sold. Upon recognition of the write down, a 
new lower cost basis for that inventory is established, and subsequent changes in facts and circumstances do not 
result in the restoration or increase in that newly established cost basis. In an effort to limit our exposure to 
delivery delays and to satisfy customer needs, we purchase inventory based on forecasted sales across our 
product lines. Beginning in the second half of fiscal 2021, we started placing significant, advanced orders for 
supply of certain long lead time components to address our expected customer demand for fiscal 2022 and the 
then-emerging supply chain challenges. During the second half of fiscal 2023, supply for certain long lead time 
components began to stabilize, and the need to place advance orders decreased for these components. As of 
November 2, 2024 and October 28, 2023, we had $1.7 billion, for both fiscal periods in outstanding purchase 
order commitments to our contract manufacturers and component suppliers for inventory. In addition, part of our 
research and development strategy is to promote the convergence of similar features and functionalities across 
our product lines. Each of these practices exposes us to the risk that our customers will not order products for 
which we have forecasted sales or will purchase less than we have forecasted. 
We recorded charges for excess and obsolete inventory of $77.3 million, $29.5 million and $16.2 million in 
fiscal 2024, 2023 and 2022, respectively, primarily related to a decrease in the forecasted demand for certain 
Networking Platforms products primarily sold to communications service providers. Our inventory, net of 
allowance for excess and obsolescence, was $820.4 million and $1.1 billion as of November 2, 2024 and 
October 28, 2023, respectively. 
Allowance for Credit Losses for Accounts Receivable and Contract Assets 
We estimate our allowances for credit losses using relevant available information from internal and external 
sources. This information is related to past events, current conditions and reasonable and supportable forecasts. 
Historical credit loss experience provides the basis for the estimation of expected credit losses. When assessing 
for credit losses, we determine collectability by pooling assets with similar characteristics. The allowances for 
credit losses are each measured on a collective basis when similar risk characteristics exist. The allowances for 
credit losses are each measured by multiplying the exposure probability of default (the probability that the asset 
will default within a given time frame) by the loss given default rate (the percentage of the asset not expected to 
be collected due to default) based on the pool of assets. 
Probability of default rates is published by third-party credit rating agencies. Adjustments to our exposure 
probability may take into account a number of factors, including, but not limited to, various customer-specific 
factors, the potential sovereign risk of the geographic locations in which the customer is operating and 
macroeconomic conditions. These factors are updated regularly or when facts and circumstances indicate that an 
update is deemed necessary. 
Our accounts receivable, net of allowance for credit losses, was $908.6 million and $1.0 billion as of 
November 2, 2024 and October 28, 2023, respectively. Our allowance for credit losses was $9.9 million and 
$11.7 million as of November 2, 2024 and October 28, 2023, respectively. 
Our contract assets for unbilled accounts receivable, net of allowance for credit losses, was $127.9 million 
and $150.3 million as of November 2, 2024 and October 28, 2023, respectively. Our allowance for credit losses 
was $0.4 million and $0.1 million as of November 2, 2024 and October 28, 2023, respectively. 
Goodwill 
Our goodwill was generated from the acquisitions of (i) Cyan, Inc. during fiscal 2015, (ii) the high-speed 
photonics components assets of TeraXion, Inc. during fiscal 2016, (iii) Packet Design, LLC and DonRiver 
Holdings, LLC during fiscal 2019, (iv) Centina Systems, Inc. during fiscal 2020, (v) Vyatta and Xelic during 
fiscal 2022 and (vi) Benu and Tibit during fiscal 2023. The goodwill from these acquisitions is primarily related 
to expected economic synergies. Goodwill is the excess of the purchase price over the fair values assigned to the 
71 

net assets acquired in a business combination. We test goodwill for impairment on an annual basis, which we 
have determined to be as of the last business day of fiscal September each year. We also test goodwill for 
impairment between annual tests if an event occurs or circumstances change that would, more likely than not, 
reduce the fair value of the reporting unit below its carrying value. 
We test goodwill impairment by comparing the fair value of the reporting unit with the unit’s carrying 
amount, including goodwill. Goodwill is allocated to reporting units based on relative fair value using a 
discounted cash flow model. If this test indicates that the fair value is less than the carrying value, an impairment 
loss is recognized limited to the total amount of goodwill allocated to that reporting unit. A non-cash goodwill 
impairment charge would have the effect of decreasing earnings or increasing losses in such period. If we are 
required to take a substantial impairment charge, our operating results would be materially adversely affected in 
such period. As of both November 2, 2024 and October 28, 2023, the goodwill balance was approximately 
$445.0 million. There were no goodwill impairments resulting from our fiscal 2024 and 2023 impairment tests, 
and no reporting unit was determined to be at risk of failing the goodwill impairment test. See Note 13 to our 
Consolidated Financial Statements included in Item 8 of Part II of this annual report. 
Long-lived Assets 
Our long-lived assets include equipment, building, furniture and fixtures, operating right-of-use assets, 
finite-lived intangible assets and maintenance spares. As of November 2, 2024 and October 28, 2023, these assets 
totaled $608.1 million and $575.0 million, net, respectively. We test long-lived assets for impairment whenever 
triggering events or changes in circumstances indicate that the assets’ carrying amount is not recoverable from its 
undiscounted cash flows. Our long-lived assets are assigned to asset groups which represent the lowest level for 
which we identify cash flows. We measure impairment loss as the amount by which the carrying amount of the 
asset or asset group exceeds its fair value. 
Deferred Tax Assets 
Pursuant to Accounting Standards Codification (“ASC”) Topic 740, Income Taxes, we maintain a valuation 
allowance for a deferred tax asset when it is deemed to be more likely than not that some or all of the deferred 
tax asset will not be realized. The ultimate realization of deferred tax assets is dependent on the generation of 
future taxable income (including the reversals of deferred tax liabilities) during the periods in which those 
deferred tax assets will become deductible. In evaluating whether a valuation allowance is required under such 
rules, we consider all available positive and negative evidence, including prior operating results, the nature and 
reason for any losses, our forecast of future taxable income, utilization of tax planning strategies, and the dates 
on which any deferred tax assets are expected to expire. These assumptions and estimates require a significant 
amount of judgment and are made based on current and projected circumstances and conditions. 
Quarterly, we perform an analysis to determine the likelihood of realizing our deferred tax assets and 
whether sufficient evidence exists to support reversal of all or a portion of the valuation allowance. The net 
deferred tax assets as of November 2, 2024 and October 28, 2023 were $885.9 million and $809.3 million, 
respectively, including valuation allowances of $192.4 million and $189.9 million, respectively. We will 
continue to evaluate future financial performance to determine whether such performance is both sustained and 
significant enough to provide sufficient evidence to support reversal of all or a portion of the remaining valuation 
allowance. The value of our net deferred tax asset may be subject to change in the future, depending on our 
generation or projections of future taxable income, as well as changes in tax policy or our tax planning strategy. 
For further discussion, see Note 22 to our Consolidated Financial Statements included in Item 8 of Part II of 
this annual report. 
72 

Warranty 
Our liability for product warranties, included in accrued liabilities and other short-term obligations, was 
$55.3 million and $57.1 million as of November 2, 2024 and October 28, 2023, respectively. Our products are 
generally covered by a warranty for periods ranging from one to five years. We accrue for warranty costs as part 
of our cost of goods sold based on associated material costs, technical support labor costs and associated 
overhead. Material cost is estimated based primarily on historical trends in the volume of product returns within 
the warranty period and the cost to repair or replace the equipment. Technical support labor cost is estimated 
based primarily on historical trends and the cost to support customer repairs within the warranty period. The 
provision for product warranties, net of adjustments for previous years’ provisions, was $25.6 million, 
$31.7 million and $17.4 million for fiscal 2024, 2023 and 2022, respectively. The provision for warranty claims 
may fluctuate on a quarterly basis depending on the mix of products and customers in that period. If actual 
product failure rates, material replacement costs, service or labor costs differ from our estimates, revisions to the 
estimated warranty provision would be required. See Note 14 to our Consolidated Financial Statements included 
in Item 8 of Part II of this annual report. 
Effects of Recent Accounting Pronouncements 
See Note 1 to our Consolidated Financial Statements included in Item 8 of Part II of this annual report for 
information relating to our discussion of the effects of recent accounting pronouncements. 
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 
We are exposed to market risk related to changes in interest rates and foreign currency exchange rates. The 
following discussion about these market risks includes forward-looking statements. Actual results could differ 
materially from those projected in these forward-looking statements. 
Interest Rate Sensitivity. We maintain an investment portfolio of various holdings, types, and maturities. See 
Notes 6 and 7 to our Consolidated Financial Statements included in Item 8 of Part II of this annual report for 
information relating to investments and fair value. These investments are sensitive to interest rate movements, 
and their fair value will decline as interest rates rise and increase as interest rates decline. The estimated impact 
on these investments of a 100 basis point (1.0%) increase in interest rates across the yield curve from rates in 
effect as of the balance sheet date would be a $2.7 million decline in value. 
Our earnings and cash flows from operations would be exposed to changes in interest rates because of the 
floating rate of interest on our 2030 New Term Loan, if such loan were not hedged using floating-to-fixed rate 
interest rate swaps. See Note 15 to our Consolidated Financial Statements included in Item 8 of Part II of this 
annual report. We have entered into interest rate swaps that fix the floating rate for $350.0 million of our floating 
rate debt at 2.968% from September 2023 through September 2025, and another $350.0 million of our floating 
rate debt at 3.47% from January 2023 through January 2028. As such, a 100 basis point (1.0%) increase in the 
Secured Overnight Financing Rate (“SOFR”) rate as of our most recent SOFR rate setting would increase our 
annualized interest expense by approximately $4.6 million on the unhedged portion of our 2030 New Term Loan 
as recognized in our Consolidated Financial Statements. See Notes 15 and 18 to our Consolidated Financial 
Statements included in Item 8 of Part II of this annual report for information relating to our 2030 New Term 
Loan. 
Foreign Currency Exchange Risk. As a global concern, our business and results of operations are exposed to 
and can be impacted by movements in foreign currency exchange rates. Because we sell globally, some of our 
sales transactions and revenue are non-U.S. Dollar denominated, with the Euro, Indian Rupee, and Canadian 
Dollar being our most significant foreign currency revenue exposures. If the U.S. Dollar strengthens against these 
currencies, our revenue for these transactions reported in U.S. Dollars would decline. For our U.S. Dollar 
denominated sales, an increase in the value of the U.S. Dollar would increase the real costs of our products to 
customers in markets outside the United States, which could impact our competitive position. During fiscal 2024, 
73 

approximately 14.3% of revenue was non-U.S. Dollar denominated. During fiscal 2024 as compared to fiscal 
2023, the U.S. Dollar fluctuated against a number of foreign currencies with minimal impact as compared to 
fiscal 2023. 
With regard to operating expense, our primary exposure to foreign currency exchange risk relates to the 
Canadian Dollar, Indian Rupee and Euro. If these foreign currencies strengthen against the U.S. Dollar, costs 
reported in U.S. Dollars will increase. During fiscal 2024, approximately 48.7% of our operating expense was 
non-U.S. Dollar denominated. During fiscal 2024 as compared to fiscal 2023, the U.S. Dollar primarily 
strengthened against a number of foreign currencies with minimal impact as compared to fiscal 2023. 
From time to time, we use foreign currency forward contracts to reduce variability in certain forecasted 
non-U.S. Dollar denominated cash flows. Generally, these derivatives have maturities of 24 months or less and 
are designated as cash flow hedges. At the inception of the cash flow hedge, and on an ongoing basis, we assess 
whether the forward contract has been effective in offsetting changes in cash flows attributable to the hedged risk 
during the hedging period. The derivative’s net gain or loss is initially reported as a component of accumulated 
other comprehensive loss and, upon the occurrence of the forecasted transaction, it is subsequently reclassified to 
the line item in the Consolidated Statements of Operations to which the hedged transaction relates. 
During fiscal 2024, we recorded $11.7 million in foreign currency exchange losses, as a result of monetary 
assets and liabilities that were transacted in a currency other than the entity’s functional currency, and the 
re-measurement adjustments were recorded in interest and other income, net on our Consolidated Statements of 
Operations. From time to time, we use foreign currency forwards to hedge these balance sheet exposures. These 
forwards are not designated as hedges for accounting purposes, and any net gain or loss associated with these 
derivatives is reported in interest and other income, net. During fiscal 2024, we recorded gains on non-hedge 
designated foreign currency forward contracts of $1.4 million. See Notes 1, 5 and 15 to our Consolidated 
Financial Statements included in Item 8 of Part II of this annual report. 
74 

Item 8. Financial Statements and Supplementary Data 
The following is an index to the consolidated financial statements: 
 
Page 
Number 
Report of Independent Registered Public Accounting Firm (PCAOB ID 238) 
76 
Consolidated Balance Sheets 
79 
Consolidated Statements of Operations 
80 
Consolidated Statements of Comprehensive Income 
81 
Consolidated Statements of Changes in Stockholders’ Equity 
82 
Consolidated Statements of Cash Flows 
83 
Notes to Consolidated Financial Statements 
84 
Note 1: Ciena Corporation and Significant Accounting Policies and Estimates 
84 
Note 2: Revenue 
95 
Note 3: Business Combinations 
99 
Note 4: Significant Asset Impairment and Restructuring Costs 
102 
Note 5: Interest and Other Income, Net 
102 
Note 6: Cash Equivalent, Short-Term and Long-Term Investments 
103 
Note 7: Fair Value Measurements 
104 
Note 8: Accounts Receivable 
105 
Note 9: Inventories 
106 
Note 10: Prepaid Expenses and Other 
107 
Note 11: Equipment, Building, Furniture and Fixtures 
107 
Note 12: Intangible Assets 
108 
Note 13: Goodwill 
108 
Note 14: Other Balance Sheet Details 
109 
Note 15: Derivative Instruments 
110 
Note 16: Accumulated Other Comprehensive Income 
111 
Note 17: Leases 
112 
Note 18: Short-Term and Long-Term Debt 
113 
Note 19: Revolving Credit Facility 
116 
Note 20: Earnings per Share Calculation 
117 
Note 21: Stockholders’ Equity 
118 
Note 22: Income Taxes 
119 
Note 23: Share-Based Compensation Expense 
122 
Note 24: Segment and Entity Wide Disclosures 
125 
Note 25: Other Employee Benefit Plans 
127 
Note 26: Commitments and Contingencies 
127 
Note 27: Subsequent Events 
128 
75 

Report of Independent Registered Public Accounting Firm 
To the Board of Directors and Stockholders of Ciena Corporation 
Opinions on the Financial Statements and Internal Control over Financial Reporting 
We have audited the accompanying consolidated balance sheets of Ciena Corporation and its subsidiaries 
(the “Company”) as of November 2, 2024 and October 28, 2023, and the related consolidated statements of 
operations, of comprehensive income, of changes in stockholders’ equity and of cash flows for each of the three 
years in the period ended November 2, 2024, including the related notes (collectively referred to as the 
“consolidated financial statements”). We also have audited the Company’s internal control over financial 
reporting as of November 2, 2024, based on criteria established in Internal Control—Integrated Framework 
(2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). 
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, 
the financial position of the Company as of November 2, 2024 and October 28, 2023, and the results of its 
operations and its cash flows for each of the three years in the period ended November 2, 2024 in conformity 
with accounting principles generally accepted in the United States of America. Also in our opinion, the Company 
maintained, in all material respects, effective internal control over financial reporting as of November 2, 2024, 
based on criteria established in Internal Control—Integrated Framework (2013) issued by the COSO. 
Basis for Opinions 
The Company’s management is responsible for these consolidated financial statements, for maintaining 
effective internal control over financial reporting, and for its assessment of the effectiveness of internal control 
over financial reporting, included in the Report of Management on Internal Control Over Financial Reporting 
appearing under Item 9A. Our responsibility is to express opinions on the Company’s consolidated financial 
statements and on the Company’s internal control over financial reporting based on our audits. We are a public 
accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and 
are required to be independent with respect to the Company in accordance with the U.S. federal securities laws 
and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. 
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we 
plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements 
are free of material misstatement, whether due to error or fraud, and whether effective internal control over 
financial reporting was maintained in all material respects. 
Our audits of the consolidated financial statements included performing procedures to assess the risks of 
material misstatement of the consolidated financial statements, whether due to error or fraud, and performing 
procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding 
the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the 
accounting principles used and significant estimates made by management, as well as evaluating the overall 
presentation of the consolidated financial statements. Our audit of internal control over financial reporting 
included obtaining an understanding of internal control over financial reporting, assessing the risk that a material 
weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on 
the assessed risk. Our audits also included performing such other procedures as we considered necessary in the 
circumstances. We believe that our audits provide a reasonable basis for our opinions. 
76 

Definition and Limitations of Internal Control over Financial Reporting 
A company’s internal control over financial reporting is a process designed to provide reasonable assurance 
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in 
accordance with generally accepted accounting principles. A company’s internal control over financial reporting 
includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, 
accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable 
assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance 
with generally accepted accounting principles, and that receipts and expenditures of the company are being made 
only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable 
assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the 
company’s assets that could have a material effect on the financial statements. 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect 
misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that 
controls may become inadequate because of changes in conditions, or that the degree of compliance with the 
policies or procedures may deteriorate. 
Critical Audit Matters 
The critical audit matter communicated below is a matter arising from the current period audit of the 
consolidated financial statements that was communicated or required to be communicated to the audit committee 
and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and 
(ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit 
matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we 
are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit 
matter or on the accounts or disclosures to which it relates. 
Reserve for Excess and Obsolete Inventory 
As described in Notes 1 and 9 to the consolidated financial statements, the Company’s consolidated 
inventory balance, net of the allowance for excess and obsolescence, was $820.4 million as of November 2, 
2024. Management records a provision for excess and obsolete inventory when an impairment has been 
identified and has a reserve for excess and obsolete inventory of $107.2 million as of November 2, 2024. 
Management writes down its inventory for estimated obsolescence or unmarketable inventory by an amount 
equal to the difference between the cost of inventory and the estimated net realizable value based on assumptions 
about future demand, which are affected by changes in the Company’s strategic direction, discontinuance of a 
product or introduction of newer versions of products, declines in the sales of or forecasted demand for certain 
products, and general market conditions. 
The principal considerations for our determination that performing procedures relating to the reserve for 
excess and obsolete inventory is a critical audit matter are the significant judgment by management when 
developing their estimate, which in turn led to a high degree of auditor judgment, subjectivity, and effort to 
perform procedures and evaluate the audit evidence obtained relating to the assumptions regarding future 
demand. 
Addressing the matter involved performing procedures and evaluating audit evidence in connection with 
forming our overall opinion on the consolidated financial statements. These procedures included testing the 
effectiveness of controls relating to the Company’s evaluation of the reserve for excess and obsolete inventory, 
including controls over the assumptions used within the model. These procedures also included, among others, 
testing management’s process for determining the reserve for excess and obsolete inventory. This included 
evaluating the appropriateness of the inventory reserve model and the reasonableness of the significant 
77 

assumptions relating to the future demand. Evaluating the assumptions related to future demand involved 
evaluating whether the assumptions used were reasonable considering historical demand and expectations 
regarding future demand. Testing management’s process for determining future demand included procedures to 
evaluate the reliability, completeness and relevance of management’s data used in the future demand assumption. 
Testing the relevance and reliability of the data included evaluating the reasonableness of the long-term demand 
forecasts and historical activity. 
/s/ PricewaterhouseCoopers LLP 
Baltimore, Maryland 
December 20, 2024 
We have served as the Company’s auditor since 1992. 
78 

CIENA CORPORATION 
CONSOLIDATED BALANCE SHEETS 
(in thousands, except share data) 
 
November 2, 2024 
October 28, 2023 
ASSETS 
 
 
Current assets: 
 
 
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
934,863 
$ 1,010,618 
Short-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
316,343 
104,753 
Accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
908,597 
1,003,876 
Inventories, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
820,430 
1,050,838 
Prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
564,183 
405,694 
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3,544,416 
3,575,779 
Long-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
80,920 
134,278 
Equipment, building, furniture and fixtures, net . . . . . . . . . . . . . . . . . . . . . . . . . .
337,722 
280,147 
Operating right-of-use assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27,417 
35,140 
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
444,707 
444,765 
Other intangible assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
165,020 
205,627 
Deferred tax asset, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
886,441 
809,306 
Other long-term assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
154,694 
116,453 
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 5,641,337 
$ 5,601,495 
LIABILITIES AND STOCKHOLDERS’ EQUITY 
 
 
Current liabilities: 
 
 
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
423,401 
$
317,828 
Accrued liabilities and other short-term obligations . . . . . . . . . . . . . . . . . . .
393,905 
431,419 
Deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
156,379 
154,419 
Operating lease liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14,455 
16,655 
Current portion of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11,700 
11,700 
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
999,840 
932,021 
Long-term deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
81,240 
74,041 
Other long-term obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
185,938 
170,407 
Long-term operating lease liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25,107 
33,259 
Long-term debt, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,533,074 
1,543,406 
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,825,199 
2,753,134 
Commitments and contingencies (Note 26) 
 
 
Stockholders’ equity: 
 
 
Preferred stock — par value $0.01; 20,000,000 shares authorized; zero 
shares issued and outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
—  
Common stock — par value $0.01; 290,000,000 shares authorized; 
142,656,116 and 144,829,938 shares issued and outstanding . . . . . . . . .
1,427 
1,448 
Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,154,869 
6,262,083 
Accumulated other comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(46,711) 
(37,767) 
Accumulated deficit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3,293,447) 
(3,377,403) 
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,816,138 
2,848,361 
Total liabilities and stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 5,641,337 
$ 5,601,495 
The accompanying notes are an integral part of these consolidated financial statements. 
79 

CIENA CORPORATION 
CONSOLIDATED STATEMENTS OF OPERATIONS 
(in thousands, except per share data) 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Revenue: 
 
 
 
Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$3,159,021 
$3,581,039 
$2,888,848 
Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
855,934 
805,510 
743,813 
Total revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4,014,955 
4,386,549 
3,632,661 
Cost of goods sold: 
 
 
 
Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,861,317 
2,088,440 
1,699,631 
Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
434,048 
419,258 
372,686 
Total cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,295,365 
2,507,698 
2,072,317 
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,719,590 
1,878,851 
1,560,344 
Operating expenses: 
 
 
 
Research and development . . . . . . . . . . . . . . . . . . . . . . . . .
767,497 
750,559 
624,656 
Selling and marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
510,668 
490,804 
466,565 
General and administrative . . . . . . . . . . . . . . . . . . . . . . . . .
220,647 
215,284 
179,382 
Significant asset impairments and restructuring costs . . . .
24,592 
23,834 
33,824 
Amortization of intangible assets . . . . . . . . . . . . . . . . . . . .
29,569 
37,351 
32,511 
Acquisition and integration costs . . . . . . . . . . . . . . . . . . . .
—  
3,474 
598 
Total operating expenses . . . . . . . . . . . . . . . . . . . . . .
1,552,973 
1,521,306 
1,337,536 
Income from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
166,617 
357,545 
222,808 
Interest and other income, net . . . . . . . . . . . . . . . . . . . . . . . . . . .
50,261 
62,008 
6,747 
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(97,028) 
(88,026) 
(47,050) 
Loss on extinguishment and modification of debt . . . . . . . . . . .
—  
(7,874) 
—  
Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . .
119,850 
323,653 
182,505 
Provision for income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
35,894 
68,826 
29,603 
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
83,956 
$ 254,827 
$ 152,902 
Basic net income per common share . . . . . . . . . . . . . . . . . . . . .
$
0.58 
$
1.71 
$
1.01 
Diluted net income per potential common share . . . . . . . . . . . .
$
0.58 
$
1.71 
$
1.00 
Weighted average basic common shares outstanding . . . . . . . .
144,715 
148,971 
151,208 
Weighted average diluted potential common shares 
outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
145,964 
149,380 
152,193 
The accompanying notes are an integral part of these consolidated financial statements. 
80 

CIENA CORPORATION 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
(in thousands) 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 83,956 
$254,827 
$152,902 
Change in unrealized gain (loss) on available-for-sale 
securities, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,170 
2,593 
(2,801) 
Change in unrealized gain (loss) on foreign currency forward 
contracts, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3,276 
2,041 
(16,413) 
Change in unrealized gain (loss) on interest rate swaps, net of 
tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(10,294) 
9,565 
21,576 
Change in cumulative translation adjustments . . . . . . . . . . . . . .
(3,096) 
(5,321) 
(49,446) 
Other comprehensive income gain (loss) . . . . . . . . . . . . . . . . . .
(8,944) 
8,878 
(47,084) 
Total comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 75,012 
$263,705 
$105,818 
The accompanying notes are an integral part of these consolidated financial statements. 
81 

CIENA CORPORATION 
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY 
(in thousands, except share data) 
 
Common Stock 
Shares 
Par Value 
Additional 
Paid-in-Capital 
Accumulated 
Other 
Comprehensive 
Income (Loss) 
Accumulated 
Deficit 
Total 
Stockholders’ 
Equity 
Balance at October 30, 2021 . . . . . . . . . 154,858,981 $1,549 $6,803,162 
$
439 $(3,785,132) $3,020,018 
Net income . . . . . . . . . . . . . . . . . . . . . .
—  
—  
—  
—  
152,902 
152,902 
Other comprehensive loss . . . . . . . . . . .
—  
—  
—  
(47,084) 
—  
(47,084) 
Repurchases of common stock - 
repurchase program, net . . . . . . . . . .
(8,433,957) 
(84) 
(499,916) 
—  
—  
(500,000) 
Issuance of shares from employee 
equity plans . . . . . . . . . . . . . . . . . . . .
2,807,123 
27 
30,321 
—  
—  
30,348 
Share-based compensation expense . . .
—  
—  
105,131 
—  
—  
105,131 
Shares repurchased for tax 
withholdings on vesting of stock unit 
awards . . . . . . . . . . . . . . . . . . . . . . . .
(819,204) 
(8) 
(48,446) 
—  
—  
(48,454) 
Balance at October 29, 2022 . . . . . . . . . 148,412,943 1,484 
6,390,252 
(46,645) 
(3,632,230) 2,712,861 
Net income . . . . . . . . . . . . . . . . . . . . . .
—  
—  
—  
—  
254,827 
254,827 
Other comprehensive income . . . . . . . .
—  
—  
—  
8,878 
—  
8,878 
Repurchases of common stock - 
repurchase program, net . . . . . . . . . .
(5,672,123) 
(57) 
(251,454) 
—  
—  
(251,511) 
Issuance of shares from employee 
equity plans . . . . . . . . . . . . . . . . . . . .
2,900,038 
29 
31,328 
—  
—  
31,357 
Share-based compensation expense . . .
—  
—  
130,455 
—  
—  
130,455 
Shares repurchased for tax 
withholdings on vesting of stock unit 
awards . . . . . . . . . . . . . . . . . . . . . . . .
(810,920) 
(8) 
(38,498) 
—  
—  
(38,506) 
Balance at October 28, 2023 . . . . . . . . . 144,829,938 1,448 
6,262,083 
(37,767) 
(3,377,403) 2,848,361 
Net income . . . . . . . . . . . . . . . . . . . . . .
—  
—  
—  
—  
83,956 
83,956 
Other comprehensive loss . . . . . . . . . . .
—  
—  
—  
(8,944) 
—  
(8,944) 
Repurchases of common stock - 
repurchase program, net . . . . . . . . . .
(4,539,828) 
(45) 
(251,318) 
—  
—  
(251,363) 
Issuance of shares from employee 
equity plans . . . . . . . . . . . . . . . . . . . .
3,312,473 
33 
34,258 
—  
—  
34,291 
Share-based compensation expense . . .
—  
—  
156,404 
—  
—  
156,404 
Shares repurchased for tax 
withholdings on vesting of stock unit 
awards . . . . . . . . . . . . . . . . . . . . . . . .
(946,467) 
(9) 
(46,558) 
—  
—  
(46,567) 
Balance at November 2, 2024 . . . . . . . . 142,656,116 $1,427 $6,154,869 
$(46,711) $(3,293,447) $2,816,138 
The accompanying notes are an integral part of these consolidated financial statements. 
82 

CIENA CORPORATION 
CONSOLIDATED STATEMENTS OF CASH FLOWS 
(in thousands) 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Cash flows provided by (used in) operating activities: 
 
 
 
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
83,956 
$ 254,827 
$ 152,902 
Adjustments to reconcile net income to net cash provided by (used in) 
operating activities: 
 
 
 
Loss on extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
1,864 
—  
Depreciation of equipment, building, furniture and fixtures, and 
amortization of leasehold improvements . . . . . . . . . . . . . . . . . . . . .
92,846 
92,564 
95,922 
Share-based compensation costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
156,404 
130,455 
105,131 
Amortization of intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
40,624 
49,616 
44,281 
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(76,810) 
(14,852) 
(27,502) 
Provision for inventory excess and obsolescence . . . . . . . . . . . . . . . .
77,341 
29,464 
16,184 
Provision for warranty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25,643 
31,742 
17,440 
Gain on equity investments, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
(26,368) 
(4,120) 
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11,768 
15,771 
4,120 
Changes in assets and liabilities: 
 
 
 
Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
80,313 
(94,565) 
(47,069) 
Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
153,021 
(132,497) 
(589,113) 
Prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(198,910) 
(51,965) 
(58,996) 
Operating lease right-of-use assets . . . . . . . . . . . . . . . . . . . . . . . .
11,837 
14,190 
16,453 
Accounts payable, accruals and other obligations . . . . . . . . . . . .
64,255 
(138,469) 
100,327 
Deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9,884 
27,412 
26,380 
Short and long-term operating lease liabilities . . . . . . . . . . . . . . .
(17,640) 
(20,857) 
(20,096) 
Net cash provided by (used in) operating activities . . . . . . . . . . . . . . .
514,532 
168,332 
(167,756) 
Cash flows used in investing activities: 
 
 
 
Payments for equipment, furniture, fixtures and intellectual property . . . . .
(136,641) 
(106,197) 
(90,818) 
Purchases of investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(287,536) 
(252,329) 
(647,526) 
Proceeds from sales and maturities of investments . . . . . . . . . . . . . . . . . . .
140,836 
208,104 
702,197 
Purchase of equity investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(21,682) 
—  
(8,000) 
Settlement of foreign currency forward contracts, net . . . . . . . . . . . . . . . . .
(1,454) 
(2,984) 
4,942 
Acquisition of businesses, net of cash acquired . . . . . . . . . . . . . . . . . . . . . .
—  
(230,048) 
(62,043) 
Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . .
(306,477) 
(383,454) 
(101,248) 
Cash flows provided by (used in) financing activities: 
 
 
 
Proceeds from issuance of senior notes . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
—  
400,000 
Proceeds from issuance of term loan, net . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
497,500 
—  
Payment of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(11,700) 
(9,430) 
(5,197) 
Proceeds from modification of term loan . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
830 
—  
Payment of debt issuance costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2,554) 
(6,379) 
(5,484) 
Payment of finance lease obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4,029) 
(3,791) 
(3,468) 
Shares repurchased for tax withholdings on vesting of stock unit 
awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(46,567) 
(38,506) 
(48,454) 
Repurchases of common stock - repurchase program, net . . . . . . . . . . . . . .
(254,502) 
(242,201) 
(500,800) 
Proceeds from issuance of common stock . . . . . . . . . . . . . . . . . . . . . . . . . .
34,291 
31,357 
30,348 
Net cash provided by (used in) financing activities . . . . . . . . . . . . . . .
(285,061) 
229,380 
(133,055) 
Effect of exchange rate changes on cash, cash equivalents and 
restricted cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,246 
2,150 
(26,167) 
Net increase (decrease) in cash, cash equivalents and restricted 
cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(75,760) 
16,408 
(428,226) 
Cash, cash equivalents and restricted cash at beginning of fiscal year . . . . . . . .
1,010,786 
994,378 
1,422,604 
Cash, cash equivalents and restricted cash at end of fiscal year . . . . . . . . . . . . .
$ 935,026 
$1,010,786 
$ 994,378 
Supplemental disclosure of cash flow information 
 
 
 
Cash paid during the fiscal year for interest, net . . . . . . . . . . . . . . . . .
$
92,515 
$
84,465 
$
42,812 
Cash paid during the fiscal year for income taxes, net . . . . . . . . . . . . .
$
54,956 
$
78,242 
$
34,967 
Operating lease payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
19,452 
$
22,782 
$
21,661 
Non-cash investing and financing activities 
 
 
 
Purchase of equipment in accounts payable . . . . . . . . . . . . . . . . . . . . .
$
14,682 
$
6,990 
$
12,373 
Repurchase of common stock in accrued liabilities from repurchase 
program, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
6,172 
$
9,310 
$
—  
Operating lease right-of-use assets subject to lease liability . . . . . . . .
$
6,912 
$
10,236 
$
23,242 
Gain on equity investment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
—  
$
26,368 
$
4,120 
The accompanying notes are an integral part of these consolidated financial statements. 
83 

CIENA CORPORATION 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 
(1) CIENA CORPORATION AND SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES 
Description of Business 
Ciena Corporation (“Ciena” or the “Company”) is a network technology company, providing hardware, 
software, and services to a wide range of network operators and enabling enhanced network capacity, service 
delivery, and automation. Our solutions support network traffic across a wide range of applications, including 
cloud, video, data, artificial intelligence (“AI”), and voice. Ciena’s network solutions are used globally by 
communications service providers, cable and multiservice operators, cloud providers, submarine network 
operators, governments, and enterprises across multiple industry verticals. 
Ciena’s portfolio is designed to enable the Adaptive Network™, which is Ciena’s vision for a network end 
state that leverages a programmable and scalable network infrastructure, driven by software control and 
automation capabilities, that is informed by network analytics and intelligence. By using Ciena’s network 
solutions to transform network infrastructures into dynamic, programmable environments driven by automation 
and analytics, Ciena believes network operators can realize greater business agility, adapt dynamically to 
changing end-user service demands, rapidly introduce new revenue-generating services, and scale networks to 
meet increased traffic demands. Ciena’s solutions are also designed to enable network operators to gain valuable 
real-time network insights, allowing them to optimize network performance and maximize the return on their 
network infrastructure investment. 
Ciena’s solutions include Networking Platforms, including its Optical Networking portfolio and Routing 
and Switching portfolio, which can be applied from the network core to end-user access points, and which allow 
network operators to scale capacity, increase transmission speeds, allocate traffic efficiently, and adapt 
dynamically to changing end-user service demands. Ciena’s Optical Networking portfolio includes products that 
support long haul and regional networks, submarine and data center interconnect networks, and metro and edge 
networks. Ciena’s Routing and Switching portfolio includes products and solutions that enable efficient Internet 
Protocol (“IP”) transport in next-generation metro, core, aggregation, and access networks, including converged 
IP, optical, and fiber-based broadband access applications. 
To complement its Networking Platforms, Ciena offers Platform Software, which includes its Navigator 
Network Control Software (“Navigator NCS”) (formerly known as Manage, Control and Plan (“MCP”)) and 
advanced applications that deliver multi-layer domain control and operations for network operators. Ciena, 
through its Blue Planet® Automation Software, also enables complete service lifecycle management automation 
with productized operational support systems (“OSS”), including inventory, orchestration, and assurance 
solutions that help its customers to achieve closed loop automation across multi-vendor and multi-domain 
environments. 
In addition to its systems and software, Ciena also offers a broad range of services that help its customers 
build, operate, and improve their networks and associated operational environments. These include network 
transformation, consulting, implementation, systems integration, maintenance, network operations center (NOC) 
management, learning, and optimization services. 
Basis of Presentation 
The accompanying consolidated financial statements include the accounts of Ciena and its wholly owned 
subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. 
Ciena has a 52 or 53-week fiscal year, which ends on the Saturday nearest to the last day of October in each 
year (November 2, 2024, October 28, 2023, and October 29, 2022, for the periods reported). Fiscal 2024 was a 
53-week fiscal year with the additional week occurring in the fourth quarter. Fiscal 2023 and fiscal 2022 each 
consisted of a 52-week fiscal year. 
84 

Business Combinations 
Ciena records acquisitions using the purchase method of accounting. The assets acquired, liabilities 
assumed, contractual contingencies, and contingent consideration are recognized at their fair value as of the 
acquisition date. The excess of the purchase price over the estimated fair values of the net tangible and net 
intangible assets acquired is recorded as goodwill. The application of the purchase method of accounting for 
business combinations requires management to make significant estimates and assumptions in the determination 
of the fair value of assets acquired and liabilities assumed, in order to properly allocate purchase price 
consideration between assets that are depreciated and amortized from goodwill. These assumptions and estimates 
include a market participant’s use of the asset and the appropriate discount rates for a market participant. Ciena’s 
estimates are based on historical experience, information obtained from the management of the acquired 
companies and, when appropriate, include assistance from independent third-party appraisal firms. Significant 
assumptions and estimates can include, but are not limited to, the cash flows that an asset is expected to generate 
in the future, the appropriate weighted-average cost of capital and the cost savings expected to be derived from 
acquiring an asset. These estimates are inherently uncertain and unpredictable. In addition, unanticipated events 
and circumstances may occur which may affect the accuracy or validity of such estimates. 
Use of Estimates 
The preparation of the financial statements and related disclosures in conformity with Generally Accepted 
Accounting Principles (“GAAP”) requires management to make estimates and judgments that affect the amounts 
reported in the consolidated financial statements and accompanying notes. Estimates are used for selling prices 
for multiple element arrangements, shared-based compensation, bad debts, valuation of inventories and 
investments, recoverability of intangible assets, other long-lived assets and goodwill, income taxes, warranty 
obligations, restructuring liabilities, derivatives, contingencies and litigation. Ciena bases its estimates on 
historical experience and assumptions that it believes are reasonable. Actual results may differ materially from 
management’s estimates. 
Cash and Cash Equivalents 
Ciena considers all highly liquid investments purchased with original maturities of three months or less to 
be cash equivalents. Restricted cash collateralizing letters of credit are included in other current assets and other 
long-term assets, depending on the duration of the restriction. 
Investments 
Ciena’s investments in debt securities are classified as available-for-sale and reported at fair value, with 
unrealized gains and losses recorded in accumulated other comprehensive loss. Ciena recognizes losses in the 
income statement when it determines that declines in the fair value of its investments below their cost basis are 
other-than-temporary. In determining whether a decline in fair value is other-than-temporary, Ciena considers 
various factors, including market price (when available), investment ratings, the financial condition and near-
term prospects of the investee, the length of time and the extent to which the fair value has been less than Ciena’s 
cost basis, and Ciena’s intent and ability to hold the investment until maturity or for a period of time sufficient to 
allow for any anticipated recovery in market value. Ciena considers all marketable debt securities that it expects 
to convert to cash within one year or less to be short-term investments, with all others considered to be long-term 
investments. 
Ciena has minority equity investments in privately held technology companies that are classified in other 
long-term assets. These investments are carried at cost because Ciena owns less than 20% of the voting equity 
and does not have the ability to exercise significant influence over the company. Ciena monitors these 
investments for impairment and makes appropriate reductions to the carrying value when necessary. As 
of November 2, 2024, the combined carrying value of these investments was $21.7 million. Ciena elects to 
estimate the fair value at cost minus impairment, if any, plus or minus observable price changes in orderly 
85 

transactions for identical or similar investments of the same issuer. Ciena evaluates these investments for 
impairment or observable price changes quarterly and records adjustments to interest and other income, net on 
the Consolidated Statements of Operations. 
Inventories 
Inventories are stated at the lower of cost or market, with cost computed using standard cost, which 
approximates actual cost, on a first-in, first-out basis. Ciena records a provision for excess and obsolete inventory 
when an impairment has been identified. 
Segment Reporting 
Ciena’s chief operating decision maker, its chief executive officer, evaluates the Company’s performance 
and allocates resources based on multiple factors, including measures of segment profit (loss). Operating 
segments are defined as components of an enterprise that engage in business activities that earn revenue and 
incur expense, for which discrete financial information is available, and for which such information is evaluated 
regularly by the chief operating decision maker for purposes of allocating resources and assessing performance. 
Ciena has the following operating segments for reporting purposes: (i) Networking Platforms; (ii) Platform 
Software and Services; (iii) Blue Planet Automation Software and Services; and (iv) Global Services. See Note 
24 below. 
Goodwill 
Goodwill is the excess of the purchase price over the fair values assigned to the net assets acquired in a 
business combination. Ciena tests goodwill for impairment on an annual basis, which it has determined to be the 
last business day of fiscal September each year. Ciena also tests goodwill for impairment between annual tests if 
an event occurs or circumstances change that would, more likely than not, reduce the fair value of the reporting 
unit below its carrying value. 
Annually, Ciena tests goodwill impairment qualitatively, or quantitatively by comparing the fair value of the 
reporting unit with the unit’s carrying amount, including goodwill. If this test indicates that the fair value is less 
than the carrying value, then an impairment loss is recognized limited to the total amount of goodwill allocated to 
that reporting unit. A non-cash goodwill impairment charge would have the effect of decreasing earnings or 
increasing losses in such period. If Ciena is required to take a substantial impairment charge, its operating results 
would be materially adversely affected in such period. 
Long-lived Assets 
Long-lived assets include equipment, building, furniture and fixtures, operating right-of-use (“ROU”) 
assets, finite-lived intangible assets and maintenance spares. Ciena tests long-lived assets for impairment 
whenever triggering events or changes in circumstances indicate that the asset’s carrying amount is not 
recoverable from its undiscounted cash flows. An impairment loss is measured as the amount by which the 
carrying amount of the asset or asset group exceeds its fair value. Ciena’s long-lived assets are assigned to asset 
groups that represent the lowest level for which cash flows can be identified. 
Equipment, Building, Furniture and Fixtures and Internal Use Software 
Equipment, building, furniture and fixtures are recorded at cost. Depreciation and amortization are 
computed using the straight-line method, generally over useful lives of three years to five years for equipment 
and furniture and fixtures and the shorter of useful life or lease term for leasehold improvements. 
Qualifying internal use software and website development costs incurred during the application 
development stage, which consist primarily of outside services and purchased software license costs, are 
capitalized and amortized straight-line over the estimated useful lives of two years to five years. 
86 

Leases 
At the inception of a contract, Ciena must determine whether the contract is or contains a lease. The contract 
is or contains a lease if the contract conveys the right to control the use of the property, plant, or equipment for a 
designated term in exchange for consideration. Ciena’s evaluation of its contracts follows the assessment of 
whether there is a right to obtain substantially all of the economic benefits from the use and the right to direct the 
use of the identified asset in the contract. Operating leases are included in the Operating ROU assets, Operating 
lease liabilities and Long-term operating lease liabilities on the Consolidated Balance Sheets. Finance leases are 
included in Equipment, building, furniture and fixtures, net (“Finance ROU assets”), Accrued liabilities and other 
short-term obligations and Other long-term obligations on the Consolidated Balance Sheets. 
Ciena has operating and finance leases that primarily relate to real property. Ciena has elected not to 
capitalize leases with a term of 12 months or less without a purchase option that it is likely to exercise. Ciena has 
elected not to separate lease and non-lease components of operating and finance leases. Lease components are 
payment items directly attributable to the use of the underlying asset, while non-lease components are explicit 
elements of a contract not directly related to the use of the underlying asset, including pass-through operating 
expenses, such as common area maintenance and utilities. 
Operating ROU assets and lease liabilities and Finance ROU assets and lease liabilities are recognized on 
the Consolidated Balance Sheets at the present value of the future lease payments over the life of the lease term. 
Ciena uses discount rates based on incremental borrowing rates, on a collateralized basis, for the respective 
underlying assets, for terms similar to the respective leases when implicit rates for leases are not determinable. 
Operating lease costs are included as rent expense in the Consolidated Statements of Operations. Fixed base 
payments on operating leases paid directly to the lessor are recorded as lease expense on a straight-line basis. 
Related variable payments based on usage, changes in an index, or market rate are expensed as incurred. Finance 
ROU assets are generally amortized on a straight-line basis over the lease term with the interest expense on the 
lease liability recorded using the interest method. The amortization and interest expense are recorded separately 
in the Consolidated Statements of Operations. 
Intangible Assets 
Ciena records finite-lived intangible assets from acquisitions. Finite-lived intangible assets are carried at 
cost less accumulated amortization. Amortization is computed using the straight-line method over the expected 
economic lives of the respective assets, up to seven years, which approximates the use of intangible assets. 
Cloud Computing Arrangements 
Ciena capitalizes certain costs related to hosting arrangements that are service contracts (cloud computing 
arrangements). Capitalized costs are included in Other long-term assets on the Consolidated Balance Sheets and 
are amortized on a straight-line basis over the estimated useful life. 
Maintenance Spares 
Maintenance spares are recorded at cost. Ciena depreciates spares ratably over four years. 
Concentrations 
Substantially all of Ciena’s cash and cash equivalents are maintained at a small number of major U.S. 
financial institutions. The majority of Ciena’s cash equivalents consist of money market funds. Deposits held 
with banks may exceed the amount of insurance provided on such deposits. Because these deposits generally may 
be redeemed upon demand, management believes that they bear minimal risk. 
87 

Historically, a significant percentage of Ciena’s revenue has been concentrated among sales to a small 
number of large communications service providers and cloud providers. Consolidation among Ciena’s customers 
has increased this concentration. Consequently, Ciena’s accounts receivable are concentrated among these 
customers. See Note 2 below. 
Ciena’s access to certain materials or components is dependent on sole or limited source suppliers. The 
inability of any of these suppliers to fulfill Ciena’s supply requirements, or significant changes in supply cost, 
could affect future results. Ciena relies on a small number of contract manufacturers to perform the majority of 
the manufacturing for its products. If Ciena cannot effectively manage these manufacturers or forecast future 
demand, or if these manufacturers fail to deliver products or components on time, Ciena’s business and results of 
operations may suffer. 
Revenue Recognition 
Ciena recognizes revenue when control of the promised products or services is transferred to its customer, in 
an amount that reflects the consideration to which Ciena expects to be entitled in exchange for those products or 
services. 
Ciena determines revenue recognition by applying the following five-step approach: 
•
identification of the contract, or contracts, with a customer; 
•
identification of the performance obligations in the contract; 
•
determination of the transaction price; 
•
allocation of the transaction price to the performance obligations in the contract; and 
•
recognition of revenue when, or as, Ciena satisfies a performance obligation. 
Generally, Ciena makes sales pursuant to purchase orders placed by customers under framework agreements 
that govern the general commercial terms and conditions of the sale of Ciena’s products and services. These 
purchase orders under framework agreements are used to determine the identification of the contract or contracts 
with this customer. Purchase orders typically include the description, quantity, and price of each product or 
service purchased. Purchase orders may include one-line bundled pricing for both products and services. 
Accordingly, purchase orders can include various combinations of products and services that are generally 
distinct and accounted for as separate performance obligations. Ciena evaluates each promised product and 
service offering to determine whether it represents a distinct performance obligation. In doing so, Ciena 
considers, among other things, customary business practices, whether the customer can benefit from the product 
or service on its own or together with other resources that are readily available, and whether Ciena’s commitment 
to transfer the product or service to the customer is separately identifiable from other obligations in the purchase 
order. For transactions where Ciena delivers the product or services, Ciena is typically the principal and records 
revenue and costs of goods sold on a gross basis. 
Purchase orders are invoiced based on the terms set forth either in the purchase order or the framework 
agreement, as applicable. Generally, sales of products and software licenses are invoiced upon shipment or 
delivery. Maintenance and software subscription services are invoiced quarterly or annually in advance of the 
service term. Ciena’s other service offerings are generally invoiced upon completion of the service. Payment 
terms and cash received typically range from 30 to 90 days from the invoicing date. Historically, Ciena has not 
provided any material financing arrangements to its customers. As a practical expedient, Ciena does not adjust 
the amount of consideration it will receive for the effects of a significant financing component as it expects, at 
contract inception, that the period between Ciena’s transfer of the products or services to the customer and 
customer payment for the products or services will be one year or less. Shipping and handling fees invoiced to 
customers are included in revenue, with the associated expense included in product cost of goods sold. Ciena 
records revenue net of any associated sales taxes. 
88 

Ciena recognizes revenue upon the transfer of control of promised products or services to a customer. 
Transfer of control occurs once the customer has the contractual right to use the product, generally upon 
shipment or delivery to the customer. Transfer of control can also occur over time for services, such as software 
subscription, maintenance, installation, and various professional services as the customer receives the benefit 
over the contract term. 
Significant Judgments 
Revenue is allocated among performance obligations based on standalone selling price (“SSP”). SSP 
reflects the price at which Ciena would expect to sell that product or service on a stand-alone basis at contract 
inception and that Ciena would expect to be entitled to receive for the promised products or services. SSP is 
estimated for each distinct performance obligation, and judgment may be required in its determination. The best 
evidence of SSP is the observable price of a product or service when Ciena sells the products separately in 
similar circumstances and to similar customers. In instances where SSP is not directly observable, Ciena 
determines SSP using information that may include market conditions and other observable inputs. 
Ciena applies judgment in determining the transaction price, as Ciena may be required to estimate variable 
consideration when determining the amount of revenue to recognize. Variable consideration can include various 
rebate, cooperative marketing, and other incentive programs that Ciena offers to its distributors, partners and 
customers. When determining the amount of revenue to recognize, Ciena estimates the expected usage of these 
programs, applying the expected value or most likely estimate and updates the estimate at each reporting period 
as actual utilization data becomes available. Ciena also considers any customer right of return and any actual or 
potential payment of liquidated damages, contractual or similar penalties, or other claims for performance 
failures or delays in determining the transaction price, where applicable. 
When transfer of control is judged to be over time for installation and professional service arrangements, 
Ciena applies the input method to determine the amount of revenue to be recognized in a given period. Utilizing 
the input method, Ciena recognizes revenue based on the ratio of actual costs incurred to date to the total 
estimated costs expected to be incurred. Revenue for software subscription and maintenance is recognized 
ratably over the period during which the services are performed. 
Capitalized Contract Acquisition Costs 
Ciena capitalizes and amortizes incremental costs of obtaining a contract considering each customer 
purchase in combination with the corresponding framework agreement, if applicable, as a contract. Ciena elected 
to implement the practical expedient, which allows for incremental costs to be recognized as an expense when 
incurred if the period of the asset recognition is one year or less. If the period of the asset recognition is greater 
than one year, Ciena amortizes these costs over the period of performance. Ciena considers sales commissions 
incurred upon receipt of purchase orders placed by customers as incremental costs to obtain such purchase 
orders. The practical expedient method is applied to the purchase order as a whole, and thus the capitalized costs 
of obtaining a purchase order is applied, even if the purchase order contains more than one performance 
obligation. In cases where a purchase order includes various distinct products or services with both short-term 
(one year or less) and long-term (more than a year) performance periods, the cost of commissions incurred for 
the total value of the purchase order is capitalized and subsequently amortized as each performance obligation is 
recognized. 
For the additional disclosures on capitalized contract acquisition costs, see Note 2 below. 
Warranty Accruals 
Ciena provides for the estimated costs to fulfill customer warranty obligations upon recognition of the 
related revenue. Estimated warranty costs include estimates for material costs, technical support labor costs and 
89 

associated overhead. Warranty is included in cost of goods sold and is determined based on actual warranty cost 
experience, estimates of component failure rates and management’s industry experience. Ciena’s sales contracts 
do not permit the right of return of the product by the customer after the product has been accepted. 
Allowance for Credit Losses for Accounts Receivable and Contract Assets 
Ciena estimates its allowances for credit losses using relevant available information from internal and 
external sources, related to past events, current conditions, and reasonable and supportable forecasts. Historical 
credit loss experience provides the basis for the estimation of expected credit losses. When assessing for credit 
losses, Ciena determines collectability by pooling assets with similar characteristics. The allowances for credit 
losses are each measured on a collective basis when similar risk characteristics exist. The allowances for credit 
losses are each measured by multiplying the exposure probability of default (the probability that the asset will 
default within a given time frame) by the loss given default rate (the percentage of the asset not expected to be 
collected due to default) based on the pool of assets. 
Probability of default rates is published by third-party credit rating agencies. Adjustments to Ciena’s 
exposure probability may take into account a number of factors, including, but not limited to, various customer-
specific factors, the potential sovereign risk of the geographic locations in which the customer is operating, and 
macroeconomic conditions. These factors are updated regularly or when facts and circumstances indicate that an 
update is deemed necessary. 
Accounts Receivable Factoring 
Ciena has entered into factoring agreements to sell certain receivables to unrelated third-party financial 
institution on a non-recourse basis. These transactions result in a reduction in accounts receivable because the 
agreements transfer effective control over, and risk related to, the receivables to the buyers. Ciena’s factoring 
agreements do not allow for recourse in the event of uncollectability, and Ciena does not retain any interest in the 
underlying accounts receivable once sold. Trade accounts receivables balances sold are removed from the 
consolidated balance sheets and cash received is reflected as cash provided by (used in) operating activities in the 
Consolidated Statements of Cash Flow. Factoring related interest expense is recorded to interest and other 
income, net on the Consolidated Statements of Operations. See Note 8 below. 
Research and Development 
Ciena charges all research and development costs to expense as incurred. Types of expense incurred in 
research and development include employee compensation, prototype equipment, consulting and third-party 
services, depreciation, facility costs and information technology. 
Government Grants 
Ciena accounts for proceeds from government grants as a reduction of expense when there is reasonable 
assurance that Ciena has met the required conditions associated with the grant and that grant proceeds will be 
received. Grant benefits are recorded to the particular line item of the Consolidated Statement of Operations to 
which the grant activity relates. 
Advertising Costs 
Ciena expenses all advertising costs as incurred. 
Legal Costs 
Ciena expenses legal costs associated with litigation as incurred. 
90 

Share-Based Compensation Expense 
Ciena measures and recognizes compensation expense for share-based awards and employee stock 
purchases related to its Amended and Restated 2003 Employee Stock Purchase Plan (the “ESPP”) based on 
estimated fair values on the date of grant. Ciena estimates the fair value of employee stock purchases related to 
the ESPP using the Black-Scholes option-pricing model. Ciena recognizes the estimated fair value of restricted 
stock units subject only to service-based vesting conditions by multiplying the number of shares underlying the 
award by the closing price per share of Ciena common stock on the grant date. Share-based compensation 
expense for service-based restricted stock unit awards is recognized ratably over the vesting period on a straight-
line basis in the Consolidated Statements of Operations. 
Awards with performance-based vesting conditions: (i) require the achievement of certain operational, 
financial or other performance criteria or targets; or (ii) vest based on Ciena’s total stockholder return as 
compared to an index of peer companies, in whole or in part. Ciena estimates the fair value of restricted stock 
units subject to performance-based vesting conditions, other than total stockholder return, by assuming the 
satisfaction of any performance-based objectives at the “target” level and multiplying the corresponding number 
of shares earned based upon such achievement by the closing price per share of Ciena common stock on the grant 
date. Share-based compensation expense, for performance-based restricted stock units other than total 
stockholder return, is recognized over the performance period, using graded vesting, which considers each 
performance period or tranche separately, based on Ciena’s determination of whether it is probable that the 
performance targets will be achieved and is included in the Consolidated Statements of Operations. At the end of 
each reporting period, Ciena reassesses the probability of achieving the performance targets and the performance 
period required to meet those targets. 
Share-based compensation expense for restricted stock units subject only to service-based vesting conditions 
and restricted stock units subject to performance-based vesting conditions other than total stockholder return, is 
recognized only for those awards that ultimately vest. In the event of a forfeiture of an award, the expense related 
to the unvested portion of that award is reversed. 
Ciena estimates the fair value of performance based awards subject to total stockholder return as compared 
to an index of peer companies using a Monte Carlo simulation valuation model on the date of grant and 
recognizes the related share-based compensation expense over the performance period. Ciena reverses share-
based compensation expense on performance based awards subject to total stockholder return only when the 
requisite service period is not reached. See Note 23 below. 
Stock Repurchase Program 
Shares repurchased pursuant to Ciena’s stock repurchase program are immediately retired upon purchase. 
Repurchased common stock is reflected as a reduction of stockholders’ equity. Ciena’s accounting policy related 
to its share repurchases is to reduce its common stock based on the par value of the shares and to reduce its 
capital surplus for the excess of the repurchase price over the par value. Since the inception of its stock 
repurchase programs, Ciena has had an accumulated deficit balance, therefore, the excess over the par value has 
been applied to additional paid-in capital. Once Ciena has retained earnings, the excess will be charged entirely 
to retained earnings. 
Income Taxes 
Ciena accounts for income taxes using an asset and liability approach. This approach recognizes deferred 
tax assets and liabilities (“DTA”) for the expected future tax consequences attributable to differences between the 
carrying amounts of assets and liabilities for financial reporting purposes and their respective tax bases, and for 
operating loss and tax credit carryforwards. In estimating future tax consequences, Ciena considers all expected 
future events other than the enactment of changes in tax laws or rates. Valuation allowances are provided if, 
based on the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets 
will not be realized. 
91 

In the ordinary course of business, transactions occur for which the ultimate outcome may be uncertain. In 
addition, tax authorities periodically audit Ciena’s income tax returns. These audits examine significant tax filing 
positions, including the timing and amounts of deductions and the allocation of income tax expenses among tax 
jurisdictions. Ciena is currently under audit in India for 2020 through 2023, in Canada for 2014, and in the 
United Kingdom for 2016 through 2022. Management does not expect the outcome of these audits to have a 
material adverse effect on Ciena’s consolidated financial position, results of operations or cash flows. Ciena’s 
major tax jurisdictions and the earliest open tax years are as follows: United States (2021), United Kingdom 
(2016), Canada (2014), and India (2020). Limited adjustments can be made to federal U.S. tax returns in earlier 
years in order to reduce net operating loss carryforwards. Ciena classifies interest and penalties related to 
uncertain tax positions as a component of income tax expense. 
Ciena is required to record excess tax benefits or tax deficiencies related to stock-based compensation as 
income tax benefit or expense when share-based awards vest or are settled. 
Ciena is electing to use the period cost method for future global intangible low-taxed income (“GILTI”) 
inclusions. 
Loss Contingencies 
Ciena is subject to the possibility of various losses arising in the ordinary course of business. These may 
relate to disputes, litigation and other legal actions. Ciena considers the likelihood of loss or the incurrence of a 
liability, as well as Ciena’s ability to estimate the amount of loss reasonably, in determining loss contingencies. 
An estimated loss contingency is accrued when it is probable that a liability has been incurred and the amount of 
loss can be reasonably estimated. Ciena regularly evaluates current information available to it in order to 
determine whether any accruals should be adjusted and whether new accruals are required. 
Fair Value of Financial Instruments 
The carrying value of Ciena’s cash and cash equivalents, accounts receivable, accounts payable and accrued 
liabilities approximates fair market value due to the relatively short period of time to maturity. For information 
related to the fair value of Ciena’s short-term and long-term debt, see Note 18 below. 
Fair value for the measurement of financial assets and liabilities is defined as the price that would be 
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the 
measurement date. As such, fair value is a market-based measurement that should be determined based on 
assumptions that market participants would use in pricing an asset or liability. Ciena utilizes a valuation 
hierarchy for disclosure of the inputs for fair value measurement. This hierarchy prioritizes the inputs into three 
broad levels as follows: 
•
Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities; 
•
Level 2 inputs are quoted prices for identical or similar assets or liabilities in less active markets or 
model-derived valuations in which significant inputs are observable for the asset or liability, either 
directly or indirectly through market corroboration, for substantially the full term of the financial 
instrument; and 
•
Level 3 inputs are unobservable inputs based on Ciena’s assumptions used to measure assets and 
liabilities at fair value. The fair values are determined based on model-based techniques using inputs 
Ciena could not corroborated with market data. 
By distinguishing between inputs that are observable in the marketplace, and therefore more objective, and 
those that are unobservable, and therefore more subjective, the hierarchy is designed to indicate the relative 
reliability of the fair value measurements. A financial asset’s or liability’s classification within the hierarchy is 
determined based on the lowest level input that is significant to the fair value measurement. 
92 

Restructuring 
From time to time, Ciena takes actions to align its workforce, facilities, and operating costs with perceived 
market opportunities, business strategies, and changes in market and business conditions, and to redesign 
business processes. Ciena recognizes a liability for the cost associated with an exit or disposal activity in the 
period in which the liability is incurred, except for one-time employee termination benefits related to a service 
period, typically of more than 60 days, which are accrued over the service period. See Note 4 below. 
Foreign Currency 
Certain of Ciena’s foreign branch offices and subsidiaries use the U.S. Dollar as their functional currency 
because Ciena Corporation, as the U.S. parent entity, exclusively funds the operations of these branch offices and 
subsidiaries. For those subsidiaries using the local currency as their functional currency, assets and liabilities are 
translated at exchange rates in effect at the balance sheet date, and the statement of operations is translated at a 
monthly average rate. Resulting translation adjustments are recorded directly to a separate component of 
stockholders’ equity. Where the monetary assets and liabilities are transacted in a currency other than the entity’s 
functional currency, re-measurement adjustments are recorded in interest and other income, net on the 
Consolidated Statements of Operations. See Note 5 below. 
Derivatives 
From time to time, Ciena uses foreign currency forward contracts to reduce variability in certain forecasted 
non-U.S. Dollar denominated cash flows. Generally, these derivatives have maturities of 24 months or less. 
Ciena also has interest rate swap arrangements to reduce variability in certain forecasted interest expense 
associated with its term loans. All of these derivatives are designated as cash flow hedges. Ciena also uses 
foreign currency forward contracts to minimize the effect of foreign exchange rate movements on its net 
investments in foreign operations. Generally, these derivatives have maturities of 24 months or less. These 
derivatives are designated as net investment hedges. At the inception of these hedges, and on an ongoing basis, 
Ciena assesses whether the derivative has been effective in offsetting changes attributable to the hedged risk 
during the hedging period. The derivative’s net gain or loss is initially reported as a component of accumulated 
other comprehensive loss and, upon occurrence of the forecasted transaction, is subsequently reclassified to the 
line item in the Consolidated Statements of Operations to which the hedged transaction relates. 
Ciena records derivative instruments in the Consolidated Statements of Cash Flows within operating, 
investing, or financing activities consistent with the cash flows of the hedged items. 
From time to time, Ciena uses foreign currency forward contracts to hedge certain balance sheet foreign 
exchange exposures. These forward contracts are not designated as hedges for accounting purposes, and any net 
gain or loss associated with these derivatives is reported in interest and other income, net on the Consolidated 
Statements of Operations. 
See Notes 7 and 15 below. 
Computation of Net Income per Share 
Ciena calculates basic net income per common share (“Basic EPS”) by dividing earnings attributable to 
common stock by the weighted average number of common shares outstanding for the period. Diluted net income 
per potential common share (“Diluted EPS”) includes other potential dilutive shares that would be outstanding if 
securities or other contracts to issue common stock were exercised or converted into common stock. Ciena uses a 
dual presentation of Basic EPS and Diluted EPS on the face of its income statement. A reconciliation of the 
numerator and denominator used for the Basic EPS and Diluted EPS computations is set forth in Note 20 below. 
93 

Software Development Costs 
Ciena develops software for sale to its customers. GAAP requires the capitalization of certain software 
development costs that are incurred subsequent to the date that technological feasibility is established and prior to 
the date the product is generally available for sale. The capitalized cost is then amortized using the straight-line 
method over the estimated life of the product. Ciena defines technological feasibility as being attained at the time 
a working model is completed. To date, the period between Ciena achieving technological feasibility and the 
general availability of such software has been short, and software development costs qualifying for capitalization 
have been insignificant. Accordingly, Ciena has not capitalized any software development costs. 
Newly Issued Accounting Standards—Effective 
In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 
(“ASU”) No. 2021-08 (“ASU 2021-08”), Business Combinations (Topic 805): Accounting for Contract Assets 
and Contract Liabilities from Contracts with Customers to improve the accounting for acquired revenue 
contracts with customers in a business combination to address recognition of an acquired contract liability and 
payment terms and their effect on subsequent revenue recognized by the acquirer. ASU 2021-08 was effective for 
Ciena beginning in the first quarter of fiscal 2024 without any material impact on its consolidated financial 
position, results of operations and related disclosures. 
Newly Issued Accounting Standards—Not Yet Effective 
In November 2023, the FASB issued ASU No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): 
Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, 
primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal 
years beginning after December 15, 2023 on a retrospective basis. Ciena is currently evaluating the impact of this 
accounting standard update on its consolidated financial statements and related disclosures. 
In December 2023, the FASB issued ASU No. 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): 
Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax 
disclosures to decision makers. ASU 2023-09 is effective for annual periods beginning in fiscal 2026 and will 
result in changes to certain of its income tax disclosures including substantially more information on a 
disaggregated basis, but it does not affect recognition or measurement of income taxes and therefore is not 
expected to have a material effect on our consolidated financial statements. 
In November 2024, the FASB issued ASU No. 2024-03 (“ASU 2024-03”), Income Statement—Reporting 
Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) to improve financial reporting 
by requiring that public business entities disclose additional information about specific expense categories in the 
notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for annual periods 
beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027; however, 
early adoption is permitted. ASU 2023-09 allows for adoption using either a prospective or retrospective method. 
Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related 
disclosures. 
In March 2024, the Securities and Exchange Commission (the “SEC”) adopted final rules under SEC 
Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors, to 
require registrants to provide certain climate-related information in their registration statements and annual 
reports. The rules would require information about a registrant’s climate-related risks that are reasonably likely to 
have a material impact on its business, results of operations, or financial condition. The required information 
about climate-related risks would also include disclosure of a registrant’s greenhouse gas emissions. Finally, the 
rules would require registrants to present certain climate-related financial metrics in their audited financial 
statements. On April 12, 2024, the final rules were indefinitely delayed pending the completion of judicial review 
in consolidated proceedings in the U.S. Court of Appeals, Eighth Circuit. 
94 

(2) REVENUE 
Disaggregation of Revenue 
Ciena’s disaggregated revenue as presented below depicts the nature, amount, and timing of revenue and 
cash flows for similar groupings of Ciena’s various offerings. The sales cycle, contractual obligations, customer 
requirements, and go-to-market strategies may differ for each of its product categories, resulting in different 
economic risk profiles for each category. 
The tables below set forth Ciena’s disaggregated revenue for the respective period (in thousands): 
 
Year Ended November 2, 2024 
 
Networking 
Platforms 
Platform Software 
and Services 
Blue Planet 
Automation 
Software and 
Services 
Global Services 
Total 
Product lines: 
 
 
 
 
 
Optical Networking . . . . . . . . . . . .
$2,642,563 
$
—  
$
—  
$
—  
$2,642,563 
Routing and Switching . . . . . . . . . .
399,492 
—  
—  
—  
399,492 
Platform Software and Services . . .
—  
358,062 
—  
—  
358,062 
Blue Planet Automation Software 
and Services . . . . . . . . . . . . . . . .
—  
—  
77,619 
—  
77,619 
Maintenance Support and 
Training . . . . . . . . . . . . . . . . . . .
—  
—  
—  
303,086 
303,086 
Installation and Deployment . . . . .
—  
—  
—  
184,358 
184,358 
Consulting and Network Design . .
—  
—  
—  
49,775 
49,775 
Total revenue by product 
line . . . . . . . . . . . . . . . . . . .
$3,042,055 
$358,062 
$77,619 
$537,219 
$4,014,955 
Timing of revenue recognition: 
 
 
 
 
 
Products and services at a point in 
time . . . . . . . . . . . . . . . . . . . . . . .
$3,042,055 
$ 99,317 
$19,267 
$ 44,410 
$3,205,049 
Products and services transferred 
over time . . . . . . . . . . . . . . . . . . .
—  
258,745 
58,352 
492,809 
809,906 
Total revenue by timing of 
revenue recognition . . . . . .
$3,042,055 
$358,062 
$77,619 
$537,219 
$4,014,955 
95 

 
Year Ended October 28, 2023 
 
Networking 
Platforms 
Platform Software 
and Services 
Blue Planet 
Automation 
Software and 
Services 
Global Services 
Total 
Product lines: 
 
 
 
 
 
Optical Networking . . . . . . . . . . . .
$2,987,245 
$
—  
$
—  
$
—  
$2,987,245 
Routing and Switching . . . . . . . . . .
506,247 
—  
—  
—  
506,247 
Platform Software and Services . . .
—  
303,873 
—  
—  
303,873 
Blue Planet Automation Software 
and Services . . . . . . . . . . . . . . . .
—  
—  
69,170 
—  
69,170 
Maintenance Support and 
Training . . . . . . . . . . . . . . . . . . .
—  
—  
—  
288,334 
288,334 
Installation and Deployment . . . . .
—  
—  
—  
180,951 
180,951 
Consulting and Network Design . .
—  
—  
—  
50,729 
50,729 
Total revenue by product 
line . . . . . . . . . . . . . . . . . . .
$3,493,492 
$303,873 
$69,170 
$520,014 
$4,386,549 
Timing of revenue recognition: 
 
 
 
 
 
Products and services at a point in 
time . . . . . . . . . . . . . . . . . . . . . . .
$3,493,492 
$ 67,013 
$21,842 
$ 55,036 
$3,637,383 
Products and services transferred 
over time . . . . . . . . . . . . . . . . . . .
—  
236,860 
47,328 
464,978 
749,166 
Total revenue by timing of 
revenue recognition . . . . . .
$3,493,492 
$303,873 
$69,170 
$520,014 
$4,386,549 
 
Year Ended October 29, 2022 
 
Networking 
Platforms 
Platform Software 
and Services 
Blue Planet 
Automation 
Software and 
Services 
Global Services 
Total 
Product lines: 
 
 
 
 
 
Optical Networking . . . . . . . . . . . .
$2,379,931 
$
—  
$
—  
$
—  
$2,379,931 
Routing and Switching . . . . . . . . . .
398,439 
—  
—  
—  
398,439 
Platform Software and Services . . .
—  
277,191 
—  
—  
277,191 
Blue Planet Automation Software 
and Services . . . . . . . . . . . . . . . .
—  
—  
76,567 
—  
76,567 
Maintenance Support and 
Training . . . . . . . . . . . . . . . . . . .
—  
—  
—  
292,375 
292,375 
Installation and Deployment . . . . .
—  
—  
—  
157,443 
157,443 
Consulting and Network Design . .
—  
—  
—  
50,715 
50,715 
Total revenue by product 
line . . . . . . . . . . . . . . . . . . .
$2,778,370 
$277,191 
$76,567 
$500,533 
$3,632,661 
Timing of revenue recognition: 
 
 
 
 
 
Products and services at a point in 
time . . . . . . . . . . . . . . . . . . . . . . .
$2,778,370 
$ 85,691 
$25,540 
$ 44,091 
$2,933,692 
Products and services transferred 
over time . . . . . . . . . . . . . . . . . . .
—  
191,500 
51,027 
456,442 
698,969 
Total revenue by timing of 
revenue recognition . . . . . .
$2,778,370 
$277,191 
$76,567 
$500,533 
$3,632,661 
96 

Ciena reports its sales geographically in the following markets: (i) the United States, Canada, the Caribbean 
and Latin America (“Americas”); (ii) Europe, Middle East and Africa (“EMEA”); and (iii) Asia Pacific, Japan 
and India (“APAC”). Within each geographic area, Ciena maintains specific teams or personnel that focus on a 
particular region, country, customer or market vertical. These teams include sales management, account 
salespersons and sales engineers, as well as services professionals and commercial management personnel. The 
following table reflects Ciena’s geographic distribution of revenue principally based on the relevant location for 
Ciena’s delivery of products and performance of services. 
For the periods below, Ciena’s geographic distribution of revenue was as follows (in thousands): 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Geographic distribution: 
 
 
 
Americas . . . . . . . . . . . . . . . . . . . .
$2,951,915 
$3,110,347 
$2,636,840 
EMEA . . . . . . . . . . . . . . . . . . . . . .
648,870 
643,142 
555,215 
APAC . . . . . . . . . . . . . . . . . . . . . .
414,170 
633,060 
440,606 
Total revenue by geographic 
distribution . . . . . . . . . . . .
$4,014,955 
$4,386,549 
$3,632,661 
Ciena’s revenue includes United States revenue of $2.8 billion for both fiscal 2024 and fiscal 2023, and 
$2.4 billion for fiscal 2022. No other country accounted for 10% or more of total revenue for the periods 
presented above. 
For the periods below, the only customers that accounted for at least 10% of Ciena’s revenue were as 
follows (in thousands): 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Cloud Provider . . . . . . . . . . . . . . . . . . .
$ 532,332 
$ 561,397 
n/a 
AT&T . . . . . . . . . . . . . . . . . . . . . . . . . .
475,261 
464,662 
$433,418 
Verizon . . . . . . . . . . . . . . . . . . . . . . . . .
n/a 
n/a 
402,787 
Total . . . . . . . . . . . . . . . . . . . . . . . . . . .
$1,007,593 
$1,026,059 
$836,205 
n/a Denotes revenue representing less than 10% of total revenue for the period 
The cloud provider noted in the above table purchased products from each of Ciena’s operating segments, 
excluding Blue Planet® Automation Software and Services, for each of the periods presented. The other 
customers identified above purchased products and services from each of Ciena’s operating segments for each of 
the periods presented. 
While Ciena has benefited from the diversification of its business and customer base, its ten largest 
customers contributed 57.9% of fiscal 2024 revenue, 53.7% of fiscal 2023 revenue and 56.3% of fiscal 2022 
revenue. 
•
Networking Platforms revenue reflects sales of Ciena’s Optical Networking and Routing and Switching 
product lines. 
•
Optical Networking - includes the 6500 Packet-Optical Platform, the Waveserver® modular 
interconnect system, the 6500 Reconfigurable Line System (RLS), the Coherent ELS open line 
system, the O-NID edge OTN demarcation device, coherent pluggable transceivers, and the 5400 
family of Packet-Optical Platforms. 
•
Routing and Switching - includes the 3000 family of service delivery platforms and the 5000 
family of service aggregation. This product line also includes, the 8100 Coherent IP networking 
97 

platforms, Ciena’s WaveRouter® product, virtualization software, the 6500 Packet Transport 
System (PTS), which combines packet switching, control plane operation, and integrated optics, 
and the 8700 Packetwave Platform. This product line also includes SD-Edge software and passive 
optical network (PON) routing and switching portfolio products. 
The Networking Platforms segment also includes sales of operating system software and enhanced 
software features embedded in each of the product lines above. Revenue from this segment is included 
in product revenue on the Consolidated Statements of Operations. Operating system software and 
enhanced software features embedded in Ciena hardware are each considered distinct performance 
obligations for which the revenue is generally recognized upfront at a point in time upon transfer of 
control. 
•
Platform Software and Services offerings provide domain control management, analytics, data and 
planning tools and applications to assist customers in managing their networks, including by creating 
more efficient operations and providing more visibility into their networks. Ciena’s platform software 
includes its Navigator Network Control SuiteTM (“Navigator NCS”) domain controller solution, its 
suite of Navigator NCS applications, previously referred to as “Manage, Control and Plan (MCP),” and 
legacy software solutions that support Ciena’s installed base of network solutions, including the 
OneControl Unified Management System. Platform software-related services revenue includes sales of 
subscription, installation, support, and consulting services related to Ciena’s software platforms, 
operating system software and enhanced software features embedded in each of the Networking 
Platforms product lines above. Revenue from the software portion of this segment is included in 
product revenue on the Consolidated Statements of Operations. Revenue from the services portions of 
this segment is included in services revenue on the Consolidated Statements of Operations. 
•
Blue Planet Automation Software and Services is a comprehensive, cloud native, and standards-based 
software portfolio, together with related services, that enables customers to accelerate digital 
transformation. Ciena’s Blue Planet Automation Platform includes inventory management (BPI), 
multi-domain service orchestration (MDSO), multi-cloud orchestration (MCO), route optimization and 
analysis (ROA), and unified assurance and analytics (UAA). Services revenue includes sales of 
subscription, installation, support, consulting and design services related to Ciena’s Blue Planet 
Automation Platform. Revenue from the software portion of this segment is included in product 
revenue on the Consolidated Statements of Operations. Revenue from the services portions of this 
segment is included in services revenue on the Consolidated Statements of Operations. 
Ciena’s software platform revenue typically reflects either perpetual or term-based software licenses, and these 
sales are considered distinct performance obligations where revenue is generally recognized upfront at a point in 
time upon transfer of control. Revenue from software subscription and support is recognized ratably over the 
period during which the services are performed. Revenue from professional services for solution customization, 
software and solution support services, consulting and design, and build-operate-transfer services relating to 
Ciena’s software offerings is recognized over time with Ciena applying the input method to determine the 
amount of revenue to be recognized in a given period. 
•
Global Services revenue reflects sales of a broad range of Ciena’s services for maintenance support and 
training, installation and deployment, and consulting and network design activities. Revenue from this 
segment is included in services revenue on the Consolidated Statements of Operations. Ciena’s Global 
Services are considered a distinct performance obligation where revenue is generally recognized over 
time. Revenue from maintenance support is recognized ratably over the period during which the 
services are performed. Revenue from installation and deployment services and consulting and network 
design services is recognized over time with Ciena applying the input method to determine the amount 
of revenue to be recognized in a given period. Revenue from training services is generally recognized 
at a point in time upon completion of the service. 
98 

Contract Balances 
The following table provides information about receivables, contract assets and contract liabilities (deferred 
revenue) from contracts with customers (in thousands): 
 
Balance at November 2, 2024 
Balance at October 28, 2023 
Accounts receivable, net . . . .
$908,597 
$1,003,876 
Contract assets for unbilled 
accounts receivable, net . .
$127,919 
$ 150,312 
Deferred revenue . . . . . . . . .
$237,619 
$ 228,460 
Ciena’s contract assets represent unbilled accounts receivable, net, where transfer of a product or service has 
occurred but invoicing is conditional upon completion of future performance obligations. These amounts are 
primarily related to installation and deployment and professional services arrangements where transfer of control 
has occurred, but Ciena has not yet invoiced the customer. Contract assets are included in prepaid expenses and 
other on the Consolidated Balance Sheets. See Note 10 below. 
Deferred Revenue represents contract liabilities and consists of advanced payments against non-cancelable 
customer orders received prior to revenue recognition. Ciena recognized approximately $153.9 million and 
$135.5 million of revenue during fiscal 2024 and 2023, respectively, that was included in the deferred revenue 
balance at November 2, 2024 and October 28, 2023, respectively. Revenue recognized due to changes in 
transaction price from performance obligations satisfied or partially satisfied in previous periods was immaterial 
during fiscal 2024 and 2023. 
Capitalized Contract Acquisition Costs 
Capitalized contract acquisition costs consist of deferred sales commissions and were $28.4 million and 
$30.2 million as of November 2, 2024 and October 28, 2023, respectively, and are included in (i) prepaid 
expenses and other and (ii) other long-term assets. The amortization expense associated with these costs was 
$30.5 million and $34.2 million during fiscal 2024 and fiscal 2023, respectively, and are included in selling and 
marketing expense on the Consolidated Statements of Operations. 
Remaining Performance Obligations 
Remaining Performance Obligations (“RPO”) are comprised of non-cancelable customer purchase orders 
for products and services that are awaiting transfer of control for revenue recognition under the applicable 
contract terms. As of November 2, 2024, the aggregate amount of RPO was $1.6 billion. As of November 2, 
2024, Ciena expects approximately 77% of the RPO to be recognized as revenue within the next twelve months. 
(3) BUSINESS COMBINATIONS 
Fiscal 2023 Acquisitions: Benu and Tibit 
On November 17, 2022, Ciena acquired Benu, a portfolio of cloud-native software solutions, including a 
virtual Broadband Network Gateway ((v)BNG), that complements Ciena’s existing portfolio of broadband access 
solutions. On December 30, 2022, Ciena acquired Tibit, a provider and developer of passive optical network 
(“PON”)-specific hardware and operating software that can be integrated into a carrier-grade Ethernet switch and 
will strengthen Ciena’s portfolio of next-generation PON solutions that support residential, enterprise, and 
mobility use cases. These businesses were acquired for an aggregate of approximately $291.7 million, of which 
$244.7 million was paid in cash, and $47.0 million represents the fair value of Ciena’s previously held cost 
method equity investment in Tibit. The acquisition of Tibit triggered the remeasurement of Ciena’s previously 
held investment in Tibit to fair value, which resulted in Ciena recognizing a gain on its cost method equity 
investment of $26.5 million. Each of these transactions has been accounted for as the acquisition of a business. 
99 

Ciena incurred approximately $3.4 million in acquisition-related costs associated with these acquisitions. 
These costs and expenses primarily include fees associated with financial, legal, and accounting advisors and 
employment-related costs. These costs were recorded in acquisition and integration costs on the Consolidated 
Statements of Operations. 
The following table summarizes the final purchase price allocation related to the acquisitions based on the 
estimated fair value of the acquired assets and assumed liabilities (in thousands): 
 
Amount 
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 14,634 
Accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . .
443 
Inventories, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,406 
Prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . .
810 
Equipment, furniture and fixtures . . . . . . . . . . . . . . . . . . . . .
1,090 
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
116,644 
Developed technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
75,400 
In-process technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
89,100 
Customer relationships and contracts . . . . . . . . . . . . . . . . . . .
18,400 
Order backlog . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,480 
Deferred tax asset, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(26,429) 
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(420) 
Accrued liabilities and other short-term obligations . . . . . . .
(874) 
Deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(851) 
Other long-term obligations . . . . . . . . . . . . . . . . . . . . . . . . . .
(144) 
Total purchase consideration . . . . . . . . . . . . . . . . . . . . . . . . .
$291,689 
Developed technology represents purchased technology that has reached technological feasibility and for 
which the acquired companies had substantially completed development as of the date of acquisition. Fair value 
was determined using future discounted cash flows related to the projected income stream of the developed 
technology for a discrete projection period. Cash flows were discounted to their present value as of the closing 
date. Developed technology is amortized on a straight-line basis over its estimated useful life of five years. 
In-process technology represents purchased technology that had not reached technological feasibility as of 
the date of acquisition. Fair value was determined using future discounted cash flows related to the projected 
income stream of the in-process technology for a discrete projection period. Cash flows were discounted to their 
present value as of the closing date. Upon completion of the in-process technology, it will be amortized on a 
straight line basis over its estimated useful life, which will be determined on that date. 
Customer relationships and contracts represent agreements with existing Tibit customers and have an 
estimated useful life of three years. Order backlog is amortized over the fulfillment period. 
The goodwill generated from these acquisitions is primarily related to expected economic synergies. The 
total goodwill amount was recorded in the Networking Platforms segment. The goodwill is not deductible for 
income tax purposes. 
Pro forma disclosures have not been included due to immateriality. The amounts of revenue and earnings for 
these acquisitions since the acquisition dates, which are included on the Consolidated Statements of Operations 
for the reporting period, are immaterial. 
100 

Fiscal 2022 Acquisitions: Vyatta and Xelic 
On November 1, 2021, Ciena acquired AT&T’s Vyatta Software Technology (“Vyatta”), a provider of 
software-based virtual routing and switching technology. AT&T is a customer of Ciena; see Note 2 above. On 
March 9, 2022, Ciena acquired Xelic, Inc., a provider and developer of field programmable gate array (FPGA) 
and application-specific integrated circuit (ASIC) technology and optical networking IP cores. These businesses 
were acquired for an aggregate of approximately $64.1 million, of which $63.3 million was paid in cash and 
$0.8 million represents a future payable arrangement. These transactions have each been accounted for as the 
acquisition of a business. 
Ciena incurred approximately $1.7 million in acquisition-related costs associated with these acquisitions. 
These costs and expenses primarily include fees associated with financial, legal and accounting advisors. These 
costs were recorded in acquisition and integration costs in the Consolidated Statements of Operations. 
The following table summarizes the final purchase price allocation related to the acquisitions based on the 
estimated fair value of the acquired assets and assumed liabilities (in thousands): 
 
Amount 
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
201 
Prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,614 
Equipment, furniture and fixtures . . . . . . . . . . . . . . . . . . . . . .
694 
Customer relationships and contracts . . . . . . . . . . . . . . . . . . . .
15,800 
Developed technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
32,491 
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17,698 
Accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4,434) 
Total purchase consideration . . . . . . . . . . . . . . . . . . . . . . . . . .
$64,064 
Customer relationships and contracts represent agreements with existing Vyatta customers and have an 
estimated useful life of two years. 
Developed technology represents purchased technology that has reached technological feasibility and for 
which the acquired companies had substantially completed development as of the date of acquisition. Fair value 
was determined using future discounted cash flows related to the projected income stream of the developed 
technology for a discrete projection period. Cash flows were discounted to their present value as of the closing 
date. Developed technology is amortized on a straight-line basis over its estimated useful life of five years. 
The goodwill generated from these acquisitions is primarily related to expected economic synergies. The 
total goodwill amount was recorded in the Networking Platforms segment. Goodwill is not deductible for income 
tax purposes. 
Pro forma disclosures have not been included due to immateriality. The amounts of revenue and earnings for 
these acquisitions since the acquisition dates, which are included in the Consolidated Statements of Operations 
for the reporting period, are immaterial. 
101 

(4) SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS 
Ciena has undertaken a number of restructuring activities intended to reduce expense and align its workforce 
and costs with market opportunities, product development and business strategies. The following table sets forth 
the restructuring activity and balance of the restructuring liability accounts, which are included in accrued 
liabilities and other short-term obligations on Ciena’s Consolidated Balance Sheets, for the fiscal years indicated 
(in thousands): 
 
Workforce 
reduction 
Other 
restructuring 
activities 
Total 
Balance at October 30, 2021 . . . . . . . . . . . . . . . . . . . .
$
781 
$
—  
$
781 
Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3,156(1) 
26,814(2) 
29,970 
Cash payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2,722) 
(22,194) 
(24,916) 
Balance at October 29, 2022 . . . . . . . . . . . . . . . . . . . .
1,215 
4,620 
5,835 
Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,885(1) 
16,949(2) 
23,834 
Cash payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6,187) 
(21,569) 
(27,756) 
Balance at October 28, 2023 . . . . . . . . . . . . . . . . . . . .
1,913 
—  
1,913 
Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15,408(1) 
9,184(2) 
24,592 
Cash payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(15,394) 
(9,184) 
(24,578) 
Balance at November 2, 2024 . . . . . . . . . . . . . . . . . . .
$
1,927 
$
—  
$
1,927 
Current restructuring liabilities . . . . . . . . . . . . . . . . . .
$
1,927 
$
—  
$
1,927 
(1) 
Reflects employee costs associated with a global workforce reduction of approximately 420, 120 and 60 
employees during fiscal 2024, 2023 and 2022, respectively, as part of a business optimization strategy to 
improve gross margin, constrain operating expense and redesign certain business processes. 
(2) 
Primarily represents the redesign of certain business processes associated with Ciena’s supply chain and 
distribution structure reorganization and costs related to restructured real estate facilities. 
Significant Asset Impairments 
In February 2022, armed conflict escalated between Russia and Ukraine. The United States and certain other 
countries have imposed sanctions on Russia and could impose further sanctions. On March 7, 2022, Ciena 
announced its decision to suspend its business operations in Russia. As a result, Ciena recorded impairment 
charges of approximately $3.8 million, of which $1.8 million was a provision for credit losses. 
(5) INTEREST AND OTHER INCOME, NET 
The components of interest and other income, net, were as follows (in thousands): 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Interest income . . . . . . . . . . . . . . . . . . . .
$ 62,121 
$45,011 
$10,060 
Gains (losses) on non-hedge designated 
foreign currency forward contracts . .
1,377 
(3,896) 
(4,018) 
Foreign currency exchange gains 
(losses) . . . . . . . . . . . . . . . . . . . . . . . .
(11,653) 
(427) 
2,501 
Gain on equity investments, net . . . . . . .
—  
26,368 
4,120 
Other . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1,584) 
(5,048) 
(5,916) 
Interest and other income, net . . . . . . . .
$ 50,261 
$62,008 
$ 6,747 
102 

During the first quarter of fiscal 2023, the acquisition of Tibit triggered the remeasurement of Ciena’s 
previously held investment in Tibit to fair value, which resulted in Ciena recognizing a gain on its equity 
investment of $26.5 million. See Note 3 above. During fiscal 2022, Ciena recorded a net gain of $4.1 million on 
its equity investments. 
Ciena Corporation, as the U.S. parent entity, uses the U.S. Dollar as its functional currency; however, some 
of its foreign branch offices and subsidiaries use the local currency as their functional currency. During fiscal 
2024 and 2023, Ciena recorded $11.7 million and $0.4 million, respectively, in exchange rate losses as a result of 
monetary assets and liabilities that were transacted in a currency other than the entity’s functional currency. 
During fiscal 2022, Ciena recorded $2.5 million in exchange rate gains as a result of monetary assets and 
liabilities that were transacted in a currency other than the entity’s functional currency. The related 
remeasurement adjustments were recorded in interest and other income, net on the Consolidated Statements of 
Operations. From time to time, Ciena uses foreign currency forwards to hedge certain of these balance sheet 
exposures. These forwards are not designated as hedges for accounting purposes, and any net gain or loss 
associated with these derivatives is reported in interest and other income, net on the Consolidated Statements of 
Operations. During fiscal 2024, Ciena recorded a gain of $1.4 million from non-hedge designated foreign 
currency forward contracts. During fiscal 2023 and 2022, Ciena recorded losses of $3.9 million and $4.0 million, 
respectively, from non-hedge designated foreign currency forward contracts. 
(6) CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS 
As of the dates indicated, investments classified as available-for-sale are comprised of the following (in 
thousands): 
 
November 2, 2024 
 
Amortized 
Cost 
Gross Unrealized 
Gains 
Gross Unrealized 
Losses 
Estimated Fair 
Value 
U.S. government obligations . . . . . . . . .
$285,492 
$751 
$ (62) 
$286,181 
Corporate debt securities . . . . . . . . . . . .
111,103 
137 
(97) 
111,143 
Time deposits . . . . . . . . . . . . . . . . . . . .
92,803 
4 
(3) 
92,804 
 
$489,398 
$892 
$(162) 
$490,128 
Included in cash equivalents . . . . . . . . .
$ 92,865 
$—  
$ —  
$ 92,865 
Included in short-term investments . . . .
315,654 
734 
(45) 
316,343 
Included in long-term investments . . . .
80,879 
158 
(117) 
80,920 
 
$489,398 
$892 
$(162) 
$490,128 
 
October 28, 2023 
 
Amortized 
Cost 
Gross Unrealized 
Gains 
Gross Unrealized 
Losses 
Estimated Fair 
Value 
U.S. government obligations . . . . . . . . .
$170,260 
$ 28 
$(379) 
$169,909 
Corporate debt securities . . . . . . . . . . . .
59,683 
1 
(115) 
59,569 
Time deposits . . . . . . . . . . . . . . . . . . . .
138,830 
4 
(5) 
138,829 
 
$368,773 
$ 33 
$(499) 
$368,307 
Included in cash equivalents . . . . . . . . .
$129,276 
$—  
$ —  
$129,276 
Included in short-term investments . . . .
105,042 
4 
(293) 
104,753 
Included in long-term investments . . . .
134,455 
29 
(206) 
134,278 
 
$368,773 
$ 33 
$(499) 
$368,307 
103 

The following table summarizes the legal maturities of debt investments at November 2, 2024 (in 
thousands): 
 
November 2, 2024 
 
Amortized 
Cost 
Estimated Fair 
Value 
Less than one year . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$408,519 
$409,208 
Due in 1-2 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
80,879 
80,920 
 
$489,398 
$490,128 
(7) FAIR VALUE MEASUREMENTS 
As of the dates indicated, the following tables summarize the fair value of assets and liabilities that were 
recorded at fair value on a recurring basis (in thousands): 
 
November 2, 2024 
 
Level 1 
Level 2 
Level 3 
Total 
Assets: 
 
 
 
 
Money market funds . . . . . . . . . . . . . . . . . . . . . . . . .
$636,097 
$
—  
$—  
$ 636,097 
Bond mutual fund . . . . . . . . . . . . . . . . . . . . . . . . . . .
112,703 
—  
—  
112,703 
Time deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
92,804 
—  
—  
92,804 
Deferred compensation plan assets . . . . . . . . . . . . . .
16,519 
—  
—  
16,519 
U.S. government obligations . . . . . . . . . . . . . . . . . . .
—  
286,181 
—  
286,181 
Corporate debt securities . . . . . . . . . . . . . . . . . . . . . .
—  
111,143 
—  
111,143 
Foreign currency forward contracts . . . . . . . . . . . . . .
—  
2,149 
—  
2,149 
Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
11,777 
—  
11,777 
Total assets measured at fair value . . . . . . . . . . . . . .
$858,123 
$411,250 
$—  
$1,269,373 
Liabilities: 
 
 
 
 
Foreign currency forward contracts . . . . . . . . . . . . . .
$
—  
$
9,155 
$—  
$
9,155 
Total liabilities measured at fair value . . . . . . . . . . .
$
—  
$
9,155 
$—  
$
9,155 
 
October 28, 2023 
 
Level 1 
Level 2 
Level 3 
Total 
Assets: 
 
 
 
 
Money market funds . . . . . . . . . . . . . . . . . . . . . . . . .
$661,101 
$
—  
$—  
$ 661,101 
Bond mutual fund . . . . . . . . . . . . . . . . . . . . . . . . . . .
104,171 
—  
—  
104,171 
Time deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
138,829 
—  
—  
138,829 
Deferred compensation plan assets . . . . . . . . . . . . . .
11,456 
—  
—  
11,456 
U.S. government obligations . . . . . . . . . . . . . . . . . . .
—  
169,909 
—  
169,909 
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
59,569 
—  
59,569 
Foreign currency forward contracts . . . . . . . . . . . . . .
—  
1,119 
—  
1,119 
Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . . . . . .
—  
24,953 
—  
24,953 
Total assets measured at fair value . . . . . . . . . . . . . .
$915,557 
$255,550 
$—  
$1,171,107 
Liabilities: 
 
 
 
 
Foreign currency forward contracts . . . . . . . . . . . . . .
$
—  
$ 14,509 
$—  
$
14,509 
Total liabilities measured at fair value . . . . . . . . . . .
$
—  
$ 14,509 
$—  
$
14,509 
104 

As of the dates indicated, the assets and liabilities above were presented on Ciena’s Consolidated Balance 
Sheets as follows (in thousands): 
 
November 2, 2024 
 
Level 1 
Level 2 
Level 3 
Total 
Assets: 
 
 
 
 
Cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$832,239 
$
9,426 
$—  
$ 841,665 
Short-term investments . . . . . . . . . . . . . . . . . . . . . . .
9,365 
306,978 
—  
316,343 
Prepaid expenses and other . . . . . . . . . . . . . . . . . . . .
—  
2,149 
—  
2,149 
Long-term investments . . . . . . . . . . . . . . . . . . . . . . .
—  
80,920 
—  
80,920 
Other long-term assets . . . . . . . . . . . . . . . . . . . . . . . .
16,519 
11,777 
—  
28,296 
Total assets measured at fair value . . . . . . . . . . . . . .
$858,123 
$411,250 
$—  
$1,269,373 
Liabilities: 
 
 
 
 
Accrued liabilities and other short-term 
obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
—  
$
9,155 
$—  
$
9,155 
Total liabilities measured at fair value . . . . . . . . . . .
$
—  
$
9,155 
$—  
$
9,155 
 
October 28, 2023 
 
Level 1 
Level 2 
Level 3 
Total 
Assets: 
 
 
 
 
Cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$891,788 
$
2,760 
$—  
$ 894,548 
Short-term investments . . . . . . . . . . . . . . . . . . . . . . .
12,313 
92,440 
—  
104,753 
Prepaid expenses and other . . . . . . . . . . . . . . . . . . . .
—  
1,119 
—  
1,119 
Long-term investments . . . . . . . . . . . . . . . . . . . . . . .
—  
134,278 
—  
134,278 
Other long-term assets . . . . . . . . . . . . . . . . . . . . . . . .
11,456 
24,953 
—  
36,409 
Total assets measured at fair value . . . . . . . . . . . . . .
$915,557 
$255,550 
$—  
$1,171,107 
Liabilities: 
 
 
 
 
Accrued liabilities and other short-term 
obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
—  
$ 14,509 
$—  
$
14,509 
Total liabilities measured at fair value . . . . . . . . . . .
$
—  
$ 14,509 
$—  
$
14,509 
Ciena did not have any transfers between Level 1 and Level 2 fair value measurements during the periods 
presented. 
(8) ACCOUNTS RECEIVABLE 
As of November 2, 2024, two customers accounted for 13.0% and 12.0% of net accounts receivable, 
respectively. As of October 28, 2023, two customers accounted for 11.0% and 10.0% of net accounts receivable, 
respectively. Ciena has not historically experienced a significant amount of bad debt expense. The following 
table summarizes the activity in Ciena’s allowance for credit losses for the fiscal years indicated (in thousands): 
Year Ended 
Beginning Balance 
Provisions 
Net Deductions 
Ending Balance 
October 29, 2022(1) . . . . . . . . . . . .
$10,912 
$4,199 
$4,153 
$10,958 
October 28, 2023 . . . . . . . . . . . . . .
$10,958 
$5,718 
$5,022 
$11,654 
November 2, 2024 . . . . . . . . . . . . .
$11,654 
$7,996 
$9,770 
$ 9,880 
(1) 
On March 7, 2022, Ciena announced its decision to suspend its business operations in Russia. As a result, 
Ciena’s allowance for doubtful accounts includes a provision for a significant asset impairment of 
$1.8 million for a trade receivable related to this decision. 
105 

Accounts Receivable Factoring 
In certain situations, Ciena may service transferred receivables which qualify as sales. Amounts sold 
through these arrangements during fiscal 2024, 2023, and 2022 were $18.1 million, $60.3 million, and 
$11.8 million, respectively. Additionally, in other situations, Ciena may settle receivables through customer 
paying agent arrangements. Amounts settled through these arrangements for fiscal 2024, 2023, and 2022 were 
$32.5 million, $41.9 million, and $13.4 million, respectively. Factoring related expense recorded to interest and 
other income, net was $1.2 million, $3.8 million, and $0.9 million for fiscal 2024, 2023, and 2022, respectively. 
(9) INVENTORIES 
As of the dates indicated, inventories are comprised of the following (in thousands): 
 
November 2, 2024 
October 28, 2023 
Raw materials . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 542,785 
$ 664,797 
Work-in-process . . . . . . . . . . . . . . . . . . . . . . . .
32,219 
55,242 
Finished goods . . . . . . . . . . . . . . . . . . . . . . . . .
324,697 
314,168 
Deferred cost of goods sold . . . . . . . . . . . . . . .
27,902 
66,634 
Gross inventories . . . . . . . . . . . . . . . . . . . . . . . .
927,603 
1,100,841 
Reserve for excess and obsolescence . . . . . . . .
(107,173) 
(50,003) 
Inventories, net . . . . . . . . . . . . . . . . . . . . . . . . .
$ 820,430 
$1,050,838 
Ciena has expanded its manufacturing capacity and accumulating raw materials inventory of components 
that were available, in some cases with expanded lead times, in an effort to prepare Ciena to produce finished 
goods more quickly upon the easing of supply constraints for certain common components. During fiscal 2024 
Ciena reduced its raw materials inventory of components primarily due to the consumption of raw materials 
previously purchased. 
Ciena makes estimates about future customer demand for its products when establishing the appropriate 
reserve for excess and obsolete inventory. For the periods presented, future demand was calculated using both 
customer backlog and future forecasted sales. Generally, Ciena’s customers may cancel or change their orders 
with limited advance notice, or they may decide not to accept its products and services. Ciena writes down its 
inventory for estimated obsolescence or unmarketable inventory by an amount equal to the difference between 
the cost of inventory and the estimated net realizable value based on assumptions about future demand, which are 
affected by changes in Ciena’s strategic direction, discontinuance of a product or introduction of newer versions 
of products, declines in the sales of or forecasted demand for certain products, and general market conditions. 
During fiscal 2024, fiscal 2023 and fiscal 2022, Ciena recorded a provision for excess and obsolescence of 
$77.3 million, $29.5 million, and $16.2 million, respectively, primarily related to a decrease in the forecasted 
demand for certain Networking Platforms products primarily sold to communications service providers. 
Deductions from the provision for excess and obsolete inventory relate primarily to the sale of previously 
reserved items and disposal activities. 
The following table summarizes the activity in Ciena’s reserve for excess and obsolete inventory for the 
fiscal years indicated (in thousands): 
Year Ended 
Beginning Balance 
Provisions 
Disposals 
Ending Balance 
October 29, 2022 . . . . . . . . . . . . . . . . .
$36,959 
$16,184 
$17,057 
$ 36,086 
October 28, 2023 . . . . . . . . . . . . . . . . .
$36,086 
$29,464 
$15,547 
$ 50,003 
November 2, 2024 . . . . . . . . . . . . . . . .
$50,003 
$77,341 
$20,171 
$107,173 
106 

(10) PREPAID EXPENSES AND OTHER 
As of the dates indicated, prepaid expenses and other are comprised of the following (in thousands): 
 
November 2, 2024 
October 28, 2023 
Cash advances to contract manufacturers(1) . . .
$167,337 
$
—  
Contract assets for unbilled accounts 
receivable, net . . . . . . . . . . . . . . . . . . . . . . . .
127,919 
150,312 
Prepaid VAT and other taxes . . . . . . . . . . . . . .
106,095 
96,724 
Prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . .
50,597 
58,954 
Other non-trade receivables . . . . . . . . . . . . . . .
45,935 
33,408 
Product demonstration equipment, net(2) . . . . .
43,245 
40,682 
Capitalized contract acquisition costs . . . . . . . .
20,310 
23,326 
Foreign currency forward contracts . . . . . . . . .
2,149 
1,118 
Deferred deployment expense . . . . . . . . . . . . . .
596 
1,170 
 
$564,183 
$405,694 
(1) 
Amount reflects refundable cash advances to a third-party contract manufacturer for potential future 
inventory purchases and transition and logistic costs for future asset relocation. Ciena has initiated a 
strategic reengineering and realignment of its supply chain, including changes to its systems, processes, 
partners and people, and this cash advance assists in facilitating such activities. 
(2) 
Depreciation of product demonstration equipment was $8.3 million, $8.0 million and $8.7 million for fiscal 
2024, 2023 and 2022, respectively. 
For further discussion on contract assets and capitalized contract acquisition costs, see Note 2 above. 
(11) EQUIPMENT, BUILDING, FURNITURE AND FIXTURES 
As of the dates indicated, equipment, building, furniture and fixtures are comprised of the following (in 
thousands): 
 
November 2, 2024 
October 28, 2023 
Equipment, furniture and fixtures . . . . . . . . . . . . .
$ 788,781 
$ 676,485 
Building subject to finance lease . . . . . . . . . . . . . .
67,517 
67,904 
Leasehold improvements . . . . . . . . . . . . . . . . . . . .
77,451 
74,391 
Equipment, building, furniture and fixtures . . . . .
933,749 
818,780 
Accumulated depreciation and amortization . . . . .
(596,027) 
(538,633) 
Equipment, building, furniture and fixtures, net . .
$ 337,722 
$ 280,147 
During fiscal 2024, fiscal 2023 and fiscal 2022, Ciena recorded depreciation of equipment, building, 
furniture and fixtures, and amortization of leasehold improvements of $84.5 million, $84.6 million and 
$87.2 million, respectively. 
107 

(12) INTANGIBLE ASSETS 
As of the dates indicated, intangible assets are comprised of the following (in thousands): 
 
November 2, 2024 
October 28, 2023 
 
Gross 
Intangible 
Accumulated 
Amortization 
Net 
Intangible 
Gross 
Intangible 
Accumulated 
Amortization 
Net 
Intangible 
Developed technology . . . . . . . . . . .
$ 503,618 
$(442,345) $ 61,273 $ 503,618 
$(414,941) $ 88,677 
In-process research and 
development . . . . . . . . . . . . . . . .
89,100 
—  
89,100 
89,100 
—  
89,100 
Patents and licenses . . . . . . . . . . . . .
8,795 
(6,150) 
2,645 
8,795 
(5,203) 
3,592 
Customer relationships, covenants 
not to compete, outstanding 
purchase orders and contracts . . .
410,934 
(398,932) 
12,002 
410,983 
(386,725) 
24,258 
Total intangible assets . . . . . . . . . . .
$1,012,447 
$(847,427) $165,020 $1,012,496 
$(806,869) $205,627 
The aggregate amortization expense of intangible assets was $40.6 million, $49.6 million and $44.3 million 
for fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Expected future amortization of intangible assets for the 
fiscal years indicated is as follows (in thousands): 
Fiscal Year 
Amount(1) 
2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$34,576 
2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23,348 
2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15,843 
2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,991 
2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
126 
Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
36 
 
$75,920 
(1) 
Does not include amortization of in-process research and development, as estimation of the timing of future 
amortization expense would be impractical. 
(13) GOODWILL 
The following table presents the goodwill allocated to Ciena’s operating segments as of November 2, 
2024 and October 28, 2023, as well as the changes to goodwill during fiscal 2024 (in thousands): 
 
Balance at 
October 28, 2023 
Translation 
Balance at 
November 2, 2024 
Platform Software and Services . . . . . . . . . .
$156,191 
$—  
$156,191 
Blue Planet Automation Software and 
Services . . . . . . . . . . . . . . . . . . . . . . . . . . .
89,049 
—  
89,049 
Networking Platforms . . . . . . . . . . . . . . . . .
199,525 
(58) 
199,467 
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$444,765 
$ (58) 
$444,707 
108 

(14) OTHER BALANCE SHEET DETAILS 
As of the dates indicated, other long-term assets are comprised of the following (in thousands): 
 
November 2, 2024 
October 28, 2023 
Maintenance spares inventory, net . . . . . . . . . .
$ 77,918 
$ 54,042 
Equity investments(1) . . . . . . . . . . . . . . . . . . . . .
21,730 
48 
Deferred compensation plan assets . . . . . . . . . .
16,519 
11,456 
Interest rate swaps . . . . . . . . . . . . . . . . . . . . . . .
11,777 
24,953 
Capitalized contract acquisition costs . . . . . . . .
8,111 
6,879 
Cloud computing arrangements(2) . . . . . . . . . . .
5,641 
8,589 
Deferred debt issuance costs, net(3) . . . . . . . . . .
1,733 
1,956 
Restricted cash . . . . . . . . . . . . . . . . . . . . . . . . .
163 
168 
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11,102 
8,362 
 
$154,694 
$116,453 
(1) 
Increase is due to an equity investment in a privately held technology company during fiscal 2024. 
(2) 
During fiscal 2024, fiscal 2023 and fiscal 2022, Ciena recorded amortization of cloud computing 
arrangements of $4.9 million, $2.6 million and $2.8 million, respectively. 
(3) 
Deferred debt issuance costs relate to Ciena’s senior secured revolving credit facility (the “Revolving Credit 
Facility”) entered into during fiscal 2023 and its predecessor asset-backed credit facility (described in Note 
19 below). The amortization of deferred debt issuance costs for the Revolving Credit Facility and its 
predecessor is included in interest expense, and was $0.3 million for fiscal 2024 and $0.4 million for both 
fiscal 2023 and fiscal 2022. 
As of the dates indicated, accrued liabilities and other short-term obligations are comprised of the following 
(in thousands): 
 
November 2, 2024 
October 28, 2023 
Compensation, payroll related tax and benefits  . .
$148,732 
$159,530 
Warranty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
55,267 
57,089 
Vacation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
31,250 
29,503 
Income taxes payable . . . . . . . . . . . . . . . . . . . . . . .
35,111 
16,341 
Foreign currency forward contracts . . . . . . . . . . . .
9,155 
14,509 
Interest payable . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,120 
4,514 
Finance lease liabilities . . . . . . . . . . . . . . . . . . . . .
4,395 
3,953 
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
103,875 
145,980 
 
$393,905 
$431,419 
The following table summarizes the activity in Ciena’s accrued warranty for the fiscal years presented (in 
thousands): 
Year Ended 
Beginning Balance 
Current Year Provisions 
Settlements 
Ending Balance 
October 29, 2022 . . . . . . . . . . . . . . .
$48,019 
$17,440 
$(19,956) 
$45,503 
October 28, 2023 . . . . . . . . . . . . . . .
$45,503 
$31,742 
$(20,156) 
$57,089 
November 2, 2024 . . . . . . . . . . . . . .
$57,089 
$25,643 
$(27,465) 
$55,267 
109 

As of the dates indicated, deferred revenue is comprised of the following (in thousands): 
 
November 2, 2024 
October 28, 2023 
Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
19,017 
$
28,353 
Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
218,602 
200,107 
Total deferred revenue . . . . . . . . . . . . . . . . . . .
237,619 
228,460 
Less current portion . . . . . . . . . . . . . . . . . . . . .
(156,379) 
(154,419) 
Long-term deferred revenue . . . . . . . . . . . . . . .
$
81,240 
$
74,041 
As of the dates indicated, other long-term obligations are comprised of the following (in thousands): 
 
November 2, 2024 
October 28, 2023 
Income tax liability . . . . . . . . . . . . . . . . . . . . . .
$113,365 
$ 98,259 
Finance lease liabilities . . . . . . . . . . . . . . . . . . .
43,522 
48,192 
Deferred compensation plan liability . . . . . . . .
16,509 
11,444 
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12,542 
12,512 
 
$185,938 
$170,407 
(15) DERIVATIVE INSTRUMENTS 
Foreign Currency Derivatives 
Ciena conducts business globally in many currencies, and thus is exposed to foreign currency exchange rate 
changes. To limit this exposure, Ciena entered into foreign currency contracts. Ciena does not enter into such 
contracts for speculative purposes. 
As of November 2, 2024 and October 28, 2023, Ciena had forward contracts to hedge its foreign exchange 
exposure in order to reduce variability in certain currencies for expenses principally related to research and 
development activities. The notional amount of these contracts was approximately $257.0 million and 
$367.3 million as of November 2, 2024 and October 28, 2023, respectively. These foreign exchange contracts 
have maturities of 24 months or less, and have been designated as cash flow hedges. 
As of November 2, 2024 and October 28, 2023, Ciena had forward contracts designated as net investment 
hedges to minimize the effect of foreign exchange rate movements on its net investments in foreign operations. 
In April 2024, Ciena terminated a portion of its existing net investment hedges for a cash loss of $0.6 million, 
which was recorded to other comprehensive income (loss). Ciena replaced its terminated net investment hedges 
with new net investment hedges. The notional amount of these contracts was approximately $65.4 million and 
$48.0 million as of November 2, 2024 and October 28, 2023, respectively. These foreign exchange contracts 
have maturities of 36 months or less and have been designated as net investment hedges. 
As of November 2, 2024 and October 28, 2023, Ciena had forward contracts in place to hedge its foreign 
exchange exposure in order to reduce the variability in various currencies of certain balance sheet items. The 
notional amount of these contracts was approximately $201.2 million and $226.3 million as of November 2, 2024 
and October 28, 2023, respectively. These foreign exchange contracts have maturities of 12 months or less and 
have not been designated as hedges for accounting purposes. 
Interest Rate Derivatives 
Ciena is exposed to floating rates of interest on its term loan borrowings (see Note 18 below) and has 
hedged such risk by entering into floating-to-fixed interest rate swap arrangements (“interest rate swaps”). 
110 

In April 2022, Ciena entered into forward starting interest rate swaps to fix the Secured Overnight Financing 
Rate (“SOFR”) for the first $350.0 million its floating rate debt at 2.968% from September 2023 through 
September 2025 (“2025 interest rate swaps”). The total notional amount of the 2025 interest swaps was 
$350 million as of November 2, 2024 and October 28, 2023. 
In January 2023, Ciena entered into interest rate swaps to fix the SOFR rate for an additional $350.0 million 
of its floating rate debt at 3.47% through January 2028 (“2028 interest rate swaps”). The total notional amount of 
the 2028 interest rate swaps in effect as of November 2, 2024 and October 28, 2023 was $350.0 million. 
In December 2023, Ciena entered into forward starting interest rate swaps to fix SOFR for an additional 
$350.0 million of its floating rate debt at 3.287% from September 2025 through December 2028 (“2028 forward 
starting interest rate swaps”). The total notional amount of the 2028 forward starting interest rate swaps effective 
September 2025 was $350.0 million as of November 2, 2024. 
Ciena expects the variable rate payments to be received under the terms interest rate swaps to offset exactly 
the forecasted variable rate payments on the equivalent notional amount of the 2030 New Term Loan (as defined 
in Note 18 below). These derivative contracts have been designated as cash flow hedges. 
Other information regarding Ciena’s derivatives is immaterial for separate financial statement presentation. 
See Notes 5 and 7 above. 
(16) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) 
The following table summarizes the changes in accumulated balances of other comprehensive income 
(“AOCI”), net of tax (in thousands): 
 
Unrealized Gain (Loss) on 
Cumulative 
Translation 
Adjustment 
Total 
 
Available-for-Sale 
Securities 
Foreign 
Currency Forward 
Contracts 
Interest 
Rate 
Swaps 
Balance at October 30, 2021 . . . . . . . . . . . .
$ (164) 
$
6,216 
$(12,179) $
6,566 
$
439 
Other comprehensive gain (loss) before 
reclassifications . . . . . . . . . . . . . . . . . . . .
(2,801) 
(16,299) 
14,512 
(49,446) 
(54,034) 
Amounts reclassified from AOCI . . . . . . . . .
—  
(114) 
7,064 
—  
6,950 
Balance at October 29, 2022 . . . . . . . . . . . .
(2,965) 
(10,197) 
9,397 
(42,880) 
(46,645) 
Other comprehensive gain (loss) before 
reclassifications . . . . . . . . . . . . . . . . . . . .
2,593 
(8,455) 
19,600 
(5,321) 
8,417 
Amounts reclassified from AOCI . . . . . . . . .
—  
10,496 
(10,035) 
—  
461 
Balance at October 28, 2023 . . . . . . . . . . . .
(372) 
(8,156) 
18,962 
(48,201) 
(37,767) 
Other comprehensive gain (loss) before 
reclassifications . . . . . . . . . . . . . . . . . . . .
1,170 
(1,424) 
4,574 
(3,096) 
1,224 
Amounts reclassified from AOCI . . . . . . . . .
—  
4,700 
(14,868) 
—  
(10,168) 
Balance at November 2, 2024 . . . . . . . . . . .
$
798 
$ (4,880) 
$
8,668 
$(51,297) $(46,711) 
All amounts reclassified from AOCI related to settlement (gains) losses on foreign currency forward 
contracts designated as cash flow hedges impacted research and development expense on the Consolidated 
Statements of Operations. All amounts reclassified from AOCI related to settlement (gains) losses on interest rate 
swaps designated as cash flow hedges impacted interest and other income, net on the Consolidated Statements of 
Operations. 
111 

(17) LEASES 
Ciena leases approximately 1.1 million square feet of facilities globally. Ciena’s corporate headquarters are 
located in Hanover, Maryland. Ciena’s largest facilities are research and development centers located in Ottawa, 
Canada and Gurgaon, India. Ciena also leases smaller engineering facilities in the United States, Canada, and 
Europe. In addition, Ciena leases various smaller offices in regions throughout the world to support sales and 
services operations. Office facilities are leased under various non-cancelable operating or finance leases. Ciena’s 
current leases have remaining terms that vary up to 8 years. Certain leases provide for options to extend up to 10 
years and/or options to terminate within 4 years. 
Leases included on the Consolidated Balance Sheets for the fiscal periods indicated were as follows (in 
thousands): 
 
Classification 
Balance at November 2, 
2024 
Balance at October 28, 
2023 
Operating leases: 
 
 
 
Operating ROU 
Assets . . . . . . . . . .
Operating right-of-use assets 
$27,417 
$35,140 
Operating lease 
liabilities . . . . . . . .
Operating lease liabilities and Long-term 
operating lease liabilities 
$39,562 
$49,914 
Finance leases: 
 
 
 
Buildings, gross . . . . .
Equipment, building, furniture and 
fixtures, net 
$67,517 
$67,904 
Less: accumulated 
depreciation . . . . . .
Equipment, building, furniture and 
fixtures, net 
(34,206) 
(30,079) 
Buildings, net 
 
$33,311 
$37,825 
Finance lease 
liabilities . . . . . . . .
Accrued liabilities and other short-term 
obligations and other long-term 
obligations 
$47,917 
$52,145 
ROU assets that involve subleased or vacant space aggregate $4.9 million as of November 2, 2024. Finance 
lease buildings, net, that involve subleased or vacant space aggregate $5.3 million as of November 2, 2024. 
These assets may become impaired if tenants are unable to service their obligations under the sublease, and/or if 
the estimates as to occupancy are not realized. 
For the periods indicated, the components of lease expense included in the Consolidated Statements of 
Operations were as follows (in thousands): 
 
Classification 
Year Ended 
November 2, 2024 
Year Ended 
October 28, 2023 
Year Ended 
October 29, 2022 
Operating lease costs . . . .
Operating expense 
$13,595 
$16,080 
$17,966 
Finance lease cost: 
 
 
 
 
Amortization of 
finance ROU 
asset . . . . . . . . . . . .
Operating expense 
4,406 
4,448 
4,592 
Interest on finance 
lease liabilities . . . .
Interest expense 
3,769 
4,069 
4,601 
Total finance lease cost . . .
 
8,175 
8,517 
9,193 
Non-capitalized lease 
cost . . . . . . . . . . . . . . . .
Operating expense 
954 
910 
917 
Variable lease cost(1) . . . . .
Operating expense 
2,562 
3,421 
5,898 
Net lease cost(2) . . . . . . . . .
 
$25,286 
$28,928 
$33,974 
112 

(1) 
Variable lease costs include expenses relating to insurance, taxes, maintenance and other costs required by 
the applicable operating lease. Variable lease costs are determined by whether they are to be included in 
base rent and if amounts are based on a consumer price index. 
(2) 
Excludes other operating expense of $5.3 million, $6.5 million, and $12.8 million for the fiscal years ended 
November 2, 2024, October 28, 2023, and October 29, 2022, respectively, related to amortization of 
leasehold improvements. 
Future minimum lease payments and the present value of minimum lease payments related to operating and 
finance leases as of November 2, 2024 were as follows (in thousands): 
Fiscal Year 
Operating 
Leases 
Finance 
Leases 
Total 
2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$15,601 
$
7,749 
$ 23,350 
2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11,187 
7,779 
18,966 
2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,587 
8,049 
14,636 
2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,157 
8,319 
10,476 
2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,578 
8,319 
10,897 
Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5,393 
22,937 
28,330 
Total lease payments . . . . . . . . . . . . . . . . . . . . . . . . . . . .
43,503 
63,152 
106,655 
Less: Imputed interest . . . . . . . . . . . . . . . . . . . . . . .
(3,941) 
(15,235) 
(19,176) 
Present value of lease liabilities . . . . . . . . . . . . . . . . . . .
39,562 
47,917 
87,479 
Less: Current portion of present value of minimum 
lease payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14,455 
4,395 
18,850 
Long-term portion of present value of minimum lease 
payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$25,107 
$ 43,522 
$ 68,629 
The weighted average remaining lease terms and weighted average discount rates for operating and finance 
leases were as follows (in thousands): 
 
As of November 2, 2024 
As of October 28, 2023 
Weighted-average remaining lease 
term in years: 
 
 
Operating leases . . . . . . . . . . . .
4.00 
4.07 
Finance leases . . . . . . . . . . . . . .
7.71 
8.71 
Weighted-average discount rates: 
 
 
Operating leases . . . . . . . . . . . .
4.29% 
3.88% 
Finance leases . . . . . . . . . . . . . .
7.56% 
7.56% 
(18) SHORT-TERM AND LONG-TERM DEBT 
Outstanding Term Loan Payable 
2030 New Term Loan 
On October 24, 2023, Ciena, together with certain of its domestic subsidiaries as guarantors, entered into an 
Incremental Amendment Agreement (the “Amendment”) to its Credit Agreement, dated July 15, 2014, as 
amended (the “Credit Agreement”), by and among Ciena, certain of its subsidiaries, the lenders party thereto, and 
Bank of America, N.A., as administrative agent (“Bank of America”), to which Ciena incurred a new tranche of 
senior secured term loans in an aggregate principal amount of $1.2 billion (the “2030 New Term Loan”) and a 
new senior secured revolving credit facility of $300 million (the “Revolving Credit Facility” as defined in Note 
19 below). 
113 

The proceeds of the 2030 New Term Loan, net of original issuance discount, replaced, in full, 
$668.7 million of outstanding principal of Ciena’s prior senior secured term loan maturing September 28, 2025 
(the “2025 Term Loan”) and $497.5 million of outstanding principal of Ciena’s prior senior secured term loan 
maturing January 19, 2030 (the “2030 Term Loan” and, together with the 2025 Term Loan, the “Refinanced 
Term Loans”), including accrued interest, and paid transaction fees and expenses, resulting in proceeds of 
$0.8 million. The 2030 New Term Loan requires Ciena to make installment payments of $2.9 million on a 
quarterly basis. 
Based on the continuation of existing lenders and the addition of new lenders, this arrangement was 
primarily accounted for as a modification of debt and, as such, $6.0 million of debt issuance costs associated with 
the 2030 New Term Loan were expensed. The aggregate balance of approximately $4.4 million of debt issuance 
costs and approximately $2.2 million of original discount from the Refinanced Term Loans, $0.1 million of debt 
issuance costs associated with new lenders for the 2030 New Term Loan, and approximately $2.9 million of 
original discount from the 2030 New Term Loan, were included in the carrying value of the 2030 New Term 
Loan. 
The Amendment amends the Credit Agreement and provides that the 2030 New Term Loan will, among 
other things: 
•
mature on October 24, 2030; 
•
amortize in equal quarterly installments in aggregate amounts equal to 0.25% of the principal amount 
of the 2030 New Term Loan as of January 19, 2023, or $2.9 million, or $11.7 million annually, with 
the balance payable at maturity; 
•
be subject to mandatory prepayment upon the occurrence of certain specified events substantially 
similar to the Refinanced Term Loans, including upon the occurrence of certain specified events such 
as asset sales, debt issuances, and receipt of annual Excess Cash Flow (as defined in the Credit 
Agreement); 
•
bear interest, at Ciena’s election, at a per annum rate equal to (a) SOFR (subject to a floor of 0.00%) 
plus an applicable margin of 2.00%, or (b) a base rate (subject to a floor of 1.00%) plus an applicable 
margin of 1.00%; and 
Among other things, the Amendment also amends the Credit Agreement by (i) modifying the “accordion” 
feature to provide for incremental term loan facilities (the “Incremental Term Loans”) in an aggregate amount 
not to exceed the sum of (A) the greater of (1) $640 million and (2) an amount equal to consolidated EBITDA on 
a pro forma basis for the most recently ended four-quarter period and (B) an amount (1) in the case of secured 
incremental term facilities that rank pari passu with or junior to the 2030 New Term Loan, such that the Total 
Secured Net Leverage Ratio (as defined in the Credit Agreement) would not be greater than 3.00 to 1.00 at the 
time of incurrence and (2) in the case of unsecured incremental term facilities, such that the Interest Coverage 
Ratio (as defined in the Credit Agreement) would not be less than 2.00 to 1.00 at the time of incurrence, subject 
to certain conditions, including obtaining commitments from any one or more lenders, whether or not currently 
party to the Credit Agreement, to provide such increased amounts and (ii) amending certain negative covenants. 
The net carrying value of the 2030 New Term Loan was comprised of the following as of the date indicated 
(in thousands): 
 
November 2, 2024 
October 28, 2023 
 
Principal 
Balance 
Unamortized 
Discount 
Deferred Debt 
Issuance 
Costs 
Net Carrying 
Value 
Net Carrying Value 
2030 New Term Loan . . . . . . . . . . . . . . .
$1,158,300 
$(4,359) 
$(5,594) 
$1,148,347 
$1,159,371 
114 

Deferred debt issuance costs that were deducted from the carrying amount of the 2030 New Term Loan 
totaled $5.6 million as of November 2, 2024 and $5.5 million as of October 28, 2023. Deferred debt issuance 
costs are amortized using the straight-line method, which approximates the effect of the effective interest rate, 
through the maturity of the 2030 New Term Loan. The amortization of deferred debt issuance costs for the 2030 
New Term Loan is included in interest expense, and was $0.9 million during fiscal 2024 and $0.1 million during 
fiscal 2023. 
As of November 2, 2024, the estimated fair value of the 2030 New Term Loan was $1.2 billion. The 2030 
New Term Loan is categorized as Level 2 in the fair value hierarchy. Ciena estimated the fair value of its 2030 
New Term Loan using a market approach based on observable inputs, such as current market transactions 
involving comparable securities. 
Refinanced Term Loans 
The proceeds of the 2030 New Term Loan, net of original issuance discount, were used to repay in full 
$1.2 billion of outstanding principal of the Refinanced Term Loans, including accrued interest. 
2025 Term Loan 
On January 19, 2023, in connection with the Incremental Agreement (as defined below) to the Credit 
Agreement (as defined below), the Credit Agreement was amended to replace LIBOR with SOFR for the 2025 
Term Loan in response to pending impact of FASB Accounting Standards Codification 848, Reference Rate 
Reform. Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect 
of the effective interest rate method, through the maturity of the 2025 Term Loan. The amortization of deferred 
debt issuance costs for the 2025 Term Loan is included in interest expense, and was $0.6 million for fiscal 2023. 
2030 Term Loan 
On January 19, 2023, Ciena entered into an Incremental Joinder and Amendment Agreement (the 
“Incremental Agreement”) to its Credit Agreement, dated July 15, 2014, as amended, by and among Ciena, the 
lenders party thereto and Bank of America, N.A., as administrative agent, pursuant to which Ciena incurred a 
new tranche of senior secured term loans in an aggregate principal amount of $500.0 million and maturing on 
January 19, 2030 (the “2030 Term Loan”). Net of original issue discount and debt issuance costs, the 
$492.5 million in proceeds from the 2030 Term Loan were intended to be used for general corporate purposes. 
The Incremental Agreement amended the Credit Agreement and provided that the 2030 Term Loan would, 
among other things: 
•
mature on January 19, 2030; 
•
amortize in equal quarterly installments in aggregate amounts equal to 0.25% of the principal amount 
of the 2030 Term Loan as of January 19, 2023, or $1.25 million, with the balance payable at maturity; 
•
be subject to mandatory prepayment on the same basis as the 2025 Term Loan, including on the 
occurrence of certain specified events such as asset sales, debt issuances, and receipt of annual Excess 
Cash Flow (as defined in the Credit Agreement); 
•
bear interest, at Ciena’s election, at a per annum rate equal to (a) SOFR (subject to a floor of 0.00%) 
plus an applicable margin of 2.50%, or (b) a base rate (subject to a floor of 1.00%) plus an applicable 
margin of 1.50%; and 
•
be repayable at any time at Ciena’s election, provided that repayment of the 2030 Term Loan with 
proceeds of certain indebtedness prior to July 19, 2023 will require a prepayment premium of 1.00% of 
the aggregate principal amount of such prepayment. 
115 

Except as amended by the Incremental Agreement, the remaining terms of the Credit Agreement remained 
in full force and effect. 
Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of 
the effective interest rate, through the maturity of the 2030 Term Loan. The amortization of deferred debt 
issuance costs for the 2030 Term Loan is included in interest expense and was $0.5 million for fiscal 2023. 
2030 Notes 
On January 18, 2022, Ciena entered into an Indenture among Ciena, as issuer, certain domestic subsidiaries 
of Ciena, as guarantors, and U.S. Bank National Association, as trustee, pursuant to which Ciena issued 
$400.0 million in aggregate principal amount of 4.00% senior notes due 2030 (the “2030 Notes”). 
The net carrying value of the 2030 Notes was comprised of the following for the period indicated (in 
thousands): 
 
November 2, 2024 
October 28, 2023 
 
Principal 
Balance 
Deferred Debt 
Issuance 
Costs 
Net 
Carrying 
Value 
Net Carrying Value 
2030 Senior Notes 4.00% fixed-rate . . . . . . . . . . . . . . . . .
$400,000 
$(3,573) 
$396,427 
$395,735 
Deferred debt issuance costs that were deducted from the carrying amount of the 2030 Notes totaled 
$3.6 million as of November 2, 2024 and $4.3 million as of October 28, 2023. Deferred debt issuance costs are 
amortized using the straight-line method, which approximates the effect of the effective interest rate, through the 
maturity of the 2030 Notes. The amortization of deferred debt issuance costs for the 2030 Notes is included in 
interest expense, and was $0.7 million during fiscal 2024 and fiscal 2023. 
As of November 2, 2024, the estimated fair value of the 2030 Notes was $368.0 million. The 2030 Notes are 
categorized as Level 2 in the fair value hierarchy. Ciena estimated the fair value of its 2030 Notes using a market 
approach based on observable inputs, such as current market transactions involving comparable securities. 
(19) REVOLVING CREDIT FACILITY 
On February 10, 2023, pursuant to an ABL Credit Agreement dated October 28, 2019, as amended (the 
“ABL Credit Agreement”), by and among Ciena, certain of its subsidiaries, the lenders party thereto, and Bank of 
America, as administrative agent, Ciena modified its senior secured asset-backed revolving credit facility (the 
“ABL Credit Facility”), which provided for a total commitment of $300.0 million to extend its maturity date to 
September 28, 2025. 
On October 24, 2023 (the “Closing Date”), pursuant to the Incremental Amendment Agreement to the 
Credit Agreement (as defined in Note 18 above), Ciena incurred a new senior secured revolving credit facility of 
$300.0 million (the “Revolving Credit Facility”), which replaced the ABL Credit Facility. Ciena has the option to 
increase the total revolving commitments under the Revolving Credit Facility to $450.0 million, subject to 
certain conditions, including obtaining commitments from one or more lenders. The Credit Agreement provides 
that $200.0 million of the Revolving Credit Facility is available for issuances of letters of credit and allows for 
swingline loans in an amount not to exceed $50.0 million. On or about the Closing Date, Ciena transferred to the 
Revolving Credit Facility certain outstanding letters of credit initially issued under the ABL Credit Facility with 
an undrawn amount of approximately $65.1 million. There were no borrowings outstanding under the ABL 
Credit Facility as of the Closing Date. Ciena expects to use the Revolving Credit Facility to support the issuance 
of letters of credit that arise in the ordinary course of its business and for general corporate purposes. 
116 

The Credit Agreement provides that the Revolving Credit Facility will, among other things: 
•
mature on October 24, 2028; 
•
bear interest on outstanding borrowings, at Ciena’s election, at a per annum rate equal to (a) SOFR 
(subject to a floor of 0.00%) plus a credit spread adjustment of 0.10% plus an applicable margin 
ranging from 1.375% to 2.00%, or (b) a base rate (subject to a floor of 1.00%) plus an applicable 
margin ranging from 0.375% to 1.00%, in each case, with the actual margin determined according to 
the Total Net Leverage Ratio (as defined in the Credit Agreement above); 
•
have a commitment fee payable on the unused portion of the Revolving Credit Facility at a per annum 
rate ranging from 0.225% to 0.300%, with the actual rate determined according to the Total Net 
Leverage Ratio; and 
•
include a restriction on the aggregate amount of Incremental Term Loans and certain other 
indebtedness that can be incurred in the future equal to an amount that would not result in the Total Net 
Leverage Ratio exceeding 5.00 to 1.00 at the time of incurrence. 
The obligations under the Revolving Credit Facility are guaranteed by all of Ciena’s subsidiaries that 
currently, or in the future are required to, guarantee the obligations of the 2030 New Term Loan, including, as of 
the Closing Date, Ciena Communications, Inc., Ciena Government Solutions, Inc., Ciena Communications 
International, LLC and Blue Planet Software, Inc., and are secured on a pari passu basis with the 2030 New Term 
Loan by a pledge of substantially all of the assets of Ciena and the guarantors. Upon the occurrence of certain 
events related to the improvement of Ciena’s credit rating and repayment of all secured term loans (“Investment 
Grade Events”), all collateral securing the obligations under the Revolving Credit Facility will be released at 
Ciena’s election. 
Under the Revolving Credit Facility, Ciena is also required to maintain certain financial maintenance 
covenants, including: 
•
prior to an Investment Grade Event, a maximum Total Secured Net Leverage Ratio of no greater than 
3.50 to 1.00 as of the end of any period of four fiscal quarters (provided, that in the event Ciena 
consummates a qualifying acquisition, Ciena can elect to increase the maximum Total Secured Net 
Leverage Ratio level to 4.00 to 1.00 for the fiscal quarter in which such qualifying acquisition is 
consummated and for the next five consecutive fiscal quarters); 
•
on or after an Investment Grade Event, a maximum Total Net Leverage Ratio of no greater than 4.00 to 
1.00 as of the end of any period of four fiscal quarters; and 
•
a minimum Interest Coverage Ratio of no less than 3.00 to 1.00 as of the end of any period of four 
fiscal quarters. 
Except as amended by the Amendment, the remaining terms of the Credit Agreement remain in full force 
and effect. 
As of November 2, 2024, Ciena was in compliance with the above financial maintenance covenants. As of 
November 2, 2024, letters of credit totaling $59.1 million were issued under our Revolving Credit Facility. There 
were no borrowings outstanding under the Revolving Credit Facility as of November 2, 2024. 
(20) EARNINGS PER SHARE CALCULATION 
Basic net income per common share (“Basic EPS”) is computed using the weighted average number of 
common shares outstanding. Diluted net income per potential common share (“Diluted EPS”) is computed using 
the weighted average number of the following, in each case, to the extent the effect is not anti-dilutive: 
(i) common shares outstanding, (ii) shares issuable upon vesting of stock unit awards; and (iii) shares issuable 
under Ciena’s employee stock purchase plan and upon exercise of outstanding stock options, using the treasury 
stock method. 
117 

The following table presents the calculation of Basic and Diluted EPS (in thousands except per share 
amounts): 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Net income . . . . . . . . . . . . . . . . . . . . . .
$ 83,956 
$254,827 
$152,902 
Basic weighted average shares 
outstanding . . . . . . . . . . . . . . . . . . . .
144,715 
148,971 
151,208 
Effect of dilutive potential common 
shares . . . . . . . . . . . . . . . . . . . . . . . .
1,249 
409 
985 
Diluted weighted average shares 
outstanding . . . . . . . . . . . . . . . . . . . .
145,964 
149,380 
152,193 
Basic EPS . . . . . . . . . . . . . . . . . . . . . . .
$
0.58 
$
1.71 
$
1.01 
Diluted EPS . . . . . . . . . . . . . . . . . . . . . .
$
0.58 
$
1.71 
$
1.00 
Antidilutive employee share-based 
awards, excluded . . . . . . . . . . . . . . . .
1,057 
2,675 
1,370 
(21) STOCKHOLDERS’ EQUITY 
Stock Repurchase Program and Accelerated Share Repurchase Agreement 
On December 9, 2021, Ciena announced that its Board of Directors replaced its previously authorized 
program with a program to repurchase up to $1.0 billion of its common stock. On December 13, 2021, Ciena 
entered into an accelerated share repurchase agreement (the “ASR Agreement”) with Goldman, Sachs & Co. 
LLC (“Goldman”) to repurchase $250.0 million (the “Repurchase Price”) of its common stock as part of the 
repurchase program. Under the terms of the ASR Agreement, Ciena paid the Repurchase Price to Goldman, and 
received approximately 3.6 million shares of its common stock from Goldman, calculated based on the average 
of the volume-weighted average prices of Ciena’s common stock of $69.78 for the period from December 14, 
2021 to February 11, 2022, less a discount, which completed the repurchases contemplated by the ASR 
Agreement. Shares repurchased pursuant to the ASR Agreement were immediately retired upon receipt. During 
the remainder of fiscal 2022, Ciena repurchased an additional 4.8 million shares of its common stock, for an 
aggregate purchase price of $250.0 million, at an average price of $51.53 per share. 
During fiscal 2023, Ciena repurchased an additional 5.7 million shares of its common stock, for an 
aggregate purchase price of $250.0 million at an average price of $44.08 per share. During fiscal 2024, Ciena 
repurchased an additional 4.5 million shares of its common stock, for an aggregate purchase price of 
$250.0 million at an average price of $55.07 per share, which completed the authorized repurchases 
contemplated under the program. In aggregate, Ciena repurchased 18.6 million shares for an aggregate purchase 
price of $1.0 billion, at an average price of $53.63 per share. 
On October 2, 2024, Ciena announced that its Board of Directors authorized a program to repurchase up to 
$1.0 billion of its common stock, commencing in Ciena’s fiscal year 2025 and continuing through the end of 
Ciena’s fiscal year 2027. Ciena may purchase shares at management’s discretion in the open market, in privately 
negotiated transactions, in transactions structured through investment banking institutions, or a combination of 
the foregoing. Ciena may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its 
shares under this authorization. The amount and timing of repurchases are subject to a variety of factors 
including liquidity, cash flow, stock price, and general business and market conditions. The program may be 
modified, suspended or discontinued at any time. 
The purchase price for the shares of Ciena’s stock repurchased is reflected as a reduction of common stock 
and additional paid-in capital. 
118 

Impact of Inflation Reduction Act 1% Excise Tax on Share Repurchases 
Beginning fiscal 2023, a 1% excise tax on the market value of shares repurchased offset by 1% of the 
market value of shares issued was implemented. During fiscal 2023, a net excise tax of $1.5 million was recorded 
to additional paid-in capital on the Consolidated Balance Sheets. During fiscal 2024, a net excise tax of 
$1.4 million was recorded to additional paid-in capital on the Consolidated Balance Sheets. 
Stock Repurchases Related to Restricted Stock Unit Tax Withholdings 
Ciena repurchases shares of common stock to satisfy employee tax withholding obligations due upon 
vesting of stock unit awards. The related purchase price of $46.6 million for the shares of Ciena’s stock 
repurchased during fiscal 2024 is reflected as a reduction to stockholders’ equity. Ciena is required to allocate the 
purchase price of the repurchased shares as a reduction of common stock and additional paid-in capital. 
(22) INCOME TAXES 
For the periods indicated, the provision for income taxes consists of the following (in thousands): 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Provision for income taxes: 
 
 
 
Current: 
 
 
 
Federal . . . . . . . . . . . . . . . . . . . . .
$ 70,208 
$ 36,537 
$ 27,479 
State . . . . . . . . . . . . . . . . . . . . . . .
14,106 
18,860 
10,289 
Foreign . . . . . . . . . . . . . . . . . . . . .
28,390 
28,281 
19,337 
Total current . . . . . . . . . . . . .
112,704 
83,678 
57,105 
Deferred: 
 
 
 
Federal . . . . . . . . . . . . . . . . . . . . .
(52,300) 
(8,010) 
(30,032) 
State . . . . . . . . . . . . . . . . . . . . . . .
(4,868) 
(17,354) 
520 
Foreign . . . . . . . . . . . . . . . . . . . . .
(19,642) 
10,512 
2,010 
Total deferred . . . . . . . . . . . .
(76,810) 
(14,852) 
(27,502) 
Provision for income taxes . . . . . . . . . .
$ 35,894 
$ 68,826 
$ 29,603 
For the periods indicated, income before provision for income taxes consists of the following (in thousands): 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
United States . . . . . . . . . . . . . . . . . . . . .
$
244 
$ 93,682 
$ 28,784 
Foreign . . . . . . . . . . . . . . . . . . . . . . . . .
119,606 
229,971 
153,721 
Total . . . . . . . . . . . . . . . . . . . . . . .
$119,850 
$323,653 
$182,505 
Ciena’s foreign income tax as a percentage of foreign income may appear disproportionate compared to the 
expected tax based on the U.S. federal statutory rate and is dependent on the mix of earnings and tax rates in 
foreign jurisdictions. 
119 

For the periods indicated, the tax provision reconciles to the amount computed by multiplying income 
before income taxes by the U.S. federal statutory rate of 21% for fiscal 2024, fiscal 2023 and fiscal 2022 as 
follows: 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Provision at statutory rate . . . . . . . . . . .
21.00% 
21.00% 
21.00% 
State taxes . . . . . . . . . . . . . . . . . . . . . . .
5.60% 
1.65% 
2.31% 
Withholding and other foreign taxes . .
3.53% 
(0.09)% 
(1.37)% 
Research and development credit . . . . .
(40.23)% 
(16.78)% 
(23.66)% 
Non-deductible compensation . . . . . . .
13.92% 
5.29% 
5.26% 
U.S. Taxation on foreign activity . . . . .
9.59% 
5.08% 
1.73% 
Foreign Nontaxable interest . . . . . . . . .
(2.96)% 
(1.06)% 
(1.90)% 
Taxation on foreign inflation . . . . . . . .
3.03% 
1.34% 
1.41% 
Rate change . . . . . . . . . . . . . . . . . . . . . .
4.46% 
(3.71)% 
1.27% 
Valuation allowance . . . . . . . . . . . . . . .
2.15% 
9.44% 
8.35% 
Loss on equity transactions . . . . . . . . . .
—%  
(1.72)% 
— % 
Uncertain tax positions . . . . . . . . . . . . .
8.09% 
1.72% 
1.62% 
Other . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.77% 
(0.89)% 
0.20% 
Effective income tax rate . . . . . . . . . . .
29.95% 
21.27% 
16.22% 
Ciena’s future income tax provisions and deferred tax balances may be affected by the amount of pre-tax 
income, the jurisdictions where it is earned, the existence and ability to utilize tax attributes and changes in tax 
laws and business reorganizations. 
The significant components of deferred tax assets are as follows (in thousands): 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
Deferred tax assets: 
 
 
Reserves and accrued liabilities . . . . . . . .
$
79,272 
$
82,160 
Depreciation and amortization . . . . . . . . .
760,685 
712,098 
NOL and credit carry forward . . . . . . . . . .
211,792 
197,984 
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26,574 
6,934 
Gross deferred tax assets . . . . . . . . . . . . . .
1,078,323 
999,176 
Valuation allowance . . . . . . . . . . . . . . . . .
(192,447) 
(189,870) 
Deferred tax asset, net of valuation 
allowance . . . . . . . . . . . . . . . . . . .
$ 885,876 
$ 809,306 
120 

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and 
penalties, is as follows (in thousands): 
 
Amount 
Unrecognized tax benefits at October 30, 2021 . . . . . . . . . . .
$ 77,091 
Increase related to positions taken in prior period . . . . . . . . .
4,732 
Reductions related to settlements with taxing authorities . . .
(3,229) 
Increase related to positions taken in current period . . . . . . .
2,959 
Reductions related to expiration of statute of limitations . . .
(1,039) 
Unrecognized tax benefits at October 29, 2022 . . . . . . . . . . .
80,514 
Increase related to positions taken in prior period . . . . . . . . .
9,940 
Reductions related to settlements with taxing authorities . . .
(625) 
Increase related to positions taken in current period . . . . . . .
4,960 
Reductions related to expiration of statute of limitations . . .
(869) 
Unrecognized tax benefits at October 28, 2023 . . . . . . . . . . .
93,920 
Increase related to positions taken in prior period . . . . . . . . .
11,482 
Reductions related to settlements with taxing authorities . . .
(4,345) 
Increase related to positions taken in current period . . . . . . .
4,340 
Reductions related to expiration of statute of limitations . . .
(116) 
Unrecognized tax benefits at November 2, 2024 . . . . . . . . . .
$105,281 
As of November 2, 2024 and October 28, 2023, Ciena had accrued $16.3 million and $7.9 million of interest 
and penalties, respectively, related to unrecognized tax benefits included in other long-term obligations on the 
Consolidated Balance Sheets. Interest and penalties of $8.2 million, $2.7 million and $1.7 million were recorded 
as a net expense to the provision for income taxes during fiscal 2024, fiscal 2023 and fiscal 2022, respectively. If 
recognized, the entire balance of unrecognized tax benefits would impact the effective tax rate. 
Changes in tax laws, regulations, administrative practices, and interpretations may impact Ciena’s tax 
contingencies. Due to various factors, the amounts ultimately paid, if any, upon the resolution of the issues raised 
by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next 
twelve months Ciena will receive additional assessments by various tax authorities or possibly reach resolution 
of income tax controversies in one or more various jurisdictions. These factors could result in changes to our 
contingencies related to positions on prior years’ tax filings. Ciena cannot currently provide an estimate of 
potential changes. As statutes of limitation expire, unrecognized tax benefits including interest and penalties 
related to contingencies may be reversed, resulting in an income tax benefit. Over the next twelve months, Ciena 
estimates that statutes on approximately $26.4 million of unrecognized tax benefits may expire, which would 
result in a net tax benefit. 
As of November 2, 2024, we have approximately $93.0 million of undistributed earnings at our foreign 
subsidiaries that we identified in fiscal 2023 as no longer indefinitely reinvested and $1.5 million of deferred tax 
liability remaining on Ciena’s Consolidated Balance sheets for the income tax effects related to the future 
repatriation of these earnings. No additional income tax expense has been provided for any remaining 
undistributed foreign earnings, or any additional outside basis difference from investments in the foreign 
subsidiaries, as these amounts continue to be indefinitely reinvested. If remaining undistributed foreign earnings 
and profits of $415.0 million were repatriated to the U.S., the provisional amount of unrecognized deferred tax 
liability, which is primarily related to foreign withholding taxes, is an estimated $34.0 million; however, the 
amount may be lower depending on Ciena’s ability to utilize tax credits associated with the distribution. 
Additionally, there are no other significant temporary differences for which a deferred tax liability or asset is not 
being recognized. 
121 

As of November 2, 2024, Ciena continues to maintain a valuation allowance of $192.4 million against its 
gross deferred tax assets primarily. The valuation allowance is primarily related to state and foreign net operating 
losses and credits that Ciena estimates that it will not be able to use. 
The following table summarizes the activity in Ciena’s valuation allowance against its gross deferred tax 
assets (in thousands): 
Year Ended 
Beginning 
Balance 
Additions 
Deductions 
Ending 
Balance 
October 29, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$159,634 
$15,245 
$12,803 
$162,076 
October 28, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$162,076 
$28,746 
$
952 
$189,870 
November 2, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . .
$189,870 
$16,816 
$14,239 
$192,447 
As of November 2, 2024, Ciena had a $31.0 million net operating loss carry forward for U.S. federal income 
tax which does not expire, and $150.0 million net operating loss carry forwards for U.S. state income taxes which 
begin to expire in fiscal 2027. As of November 2, 2024, Ciena also had a $174.0 million net operating loss carry 
forward in non-U.S. jurisdictions which begin to expire in fiscal 2029. Ciena’s ability to use U.S. federal net 
operating losses is subject to limitations pursuant to the ownership change rules of the Internal Revenue Code 
Section 382. 
(23) SHARE-BASED COMPENSATION EXPENSE 
Ciena has outstanding equity awards issued under its 2017 Omnibus Incentive Plan (the “2017 Plan”), its 
2008 Omnibus Incentive Plan, and certain legacy equity plans and equity plans assumed as a result of previous 
acquisitions. All equity awards granted on or after March 23, 2017 are made exclusively from the 2017 Plan. 
Ciena also makes shares of its common stock available for purchase under the ESPP. Each of the 2017 Plan and 
the ESPP is described below. 
2017 Plan 
At Ciena’s 2024 Annual Meeting of Stockholders that was held on March 21, 2024, Ciena’s stockholders 
approved an amendment to the 2017 Plan, effective as of such date, to (i) increase the number of shares available 
for issuance thereunder by 10.1 million shares, and (ii) increase the recoupment period for misconduct relating to 
accounting restatements from 12 months to three years. 
The 2017 Plan has a ten-year term and authorizes the issuance of awards including stock options, restricted 
stock units (RSUs), restricted stock, unrestricted stock, stock appreciation rights (SARs), and other equity and/or 
cash performance incentive awards to employees, directors and consultants of Ciena. Subject to certain 
restrictions, the Compensation Committee of the Board of Directors has broad discretion to establish the terms 
and conditions for awards under the 2017 Plan, including the number of shares, vesting conditions, and the 
required service or performance criteria. Options and SARs have a maximum term of ten years, and their 
exercise price may not be less than 100% of fair market value on the date of grant. Repricing of stock options and 
SARs is prohibited without stockholder approval. Certain change in control transactions may cause awards 
granted under the 2017 Plan to vest, unless the awards are continued or substituted for in connection with the 
transaction. 
The 2017 Plan authorizes and reserves 31.2 million shares for issuance. The number of shares available 
under the 2017 Plan is also increased from time to time by: (i) the number of shares subject to outstanding 
awards granted under Ciena’s prior equity compensation plans that are forfeited, expire or are canceled without 
delivery of common stock following the effective date of the 2017 Plan, and (ii) the number of shares subject to 
awards assumed or substituted in connection with the acquisition of another company. As of November 2, 2024, 
the total number of shares authorized for issuance under the 2017 Plan was 31.2 million and approximately 
10.9 million shares remained available for issuance thereunder. 
122 

Stock Options 
There were no stock options granted by Ciena during fiscal 2024, fiscal 2023 or fiscal 2022. There were no 
stock options outstanding as of November 2, 2024. 
The total intrinsic value of options exercised during fiscal 2024, fiscal 2023 and fiscal 2022 was 
$0.1 million, $0.3 million and $1.6 million, respectively. 
Assumptions for Option-Based Awards 
Ciena recognizes the fair value of stock options as share-based compensation expense on a straight-line 
basis over the requisite service period. Ciena did not grant any option-based awards during fiscal 2024, fiscal 
2023 or fiscal 2022. 
Restricted Stock Units 
A restricted stock unit is a stock award that entitles the holder to receive shares of Ciena common stock as 
the unit vests. Ciena’s outstanding restricted stock unit awards are subject to service-based vesting conditions 
and/or performance-based vesting conditions. Awards subject to service-based conditions typically vest in 
increments over a three or four-year period. However, the 2017 Plan permits Ciena to grant service-based stock 
awards with a minimum one-year vesting period. Awards with performance-based vesting conditions (i) require 
the achievement of certain operational, financial or other performance criteria or targets or (ii) vest based on 
Ciena’s total stockholder return as compared to an index of peer companies, in whole or in part. 
During fiscal 2023, Ciena introduced a benefit pursuant to which, upon completion of ten years of service 
and reaching age 60, executive officers who are residents of the United States, the United Kingdom, or Canada, 
and who provide 12 months’ notice of their retirement, will receive continued vesting of all of their granted but 
unvested restricted stock unit (“RSU”) awards and a pro-rated amount of their performance stock unit awards and 
market stock unit awards. Other employees in these and certain other countries will be subject to the same 
eligibility and notice requirements, but will receive acceleration of their granted but unvested RSU awards upon 
retirement. This program accelerates the recognition of share-based compensation expense. 
Assumptions for Restricted Stock Unit Awards 
Ciena recognizes the estimated fair value of restricted stock units subject only to service-based vesting 
conditions by multiplying the number of shares underlying the award by the closing price per share of Ciena 
common stock on the grant date. Share-based expense for service-based restricted stock unit awards is 
recognized ratably over the vesting period on a straight-line basis. 
Ciena recognizes the estimated fair value of restricted stock units subject to performance-based vesting 
conditions other than total stockholder return, by assuming the satisfaction of any performance-based objectives 
at the “target” level and multiplying the corresponding number of shares earned based upon such achievement by 
the closing price per share of Ciena common stock on the grant date. Share-based compensation expense is 
recognized over the performance period, using graded vesting, which considers each performance period or 
tranche separately, based on Ciena’s determination of whether it is probable that the performance targets will be 
achieved. At the end of each reporting period, Ciena reassesses the probability of achieving the performance 
targets and the performance period required to meet those targets. The estimation of whether the performance 
targets will be achieved involves judgment. Revisions are reflected in the period in which the estimate is 
changed. If any performance goals are not met, no compensation cost is ultimately recognized against that goal 
and, to the extent previously recognized, compensation expense is reversed. 
Share-based compensation expense for restricted stock units subject only to service-based vesting conditions 
and restricted stock units subject to performance-based vesting conditions other than total stockholder return, is 
123 

recognized only for those awards that ultimately vest. In the event of a forfeiture of an award, the expense related 
to the unvested portion of that award is reversed. Reversal of share-based compensation expense based on 
forfeitures can materially affect the measurement of estimated fair value of Ciena’s share-based compensation. 
Ciena estimates the fair value of performance based awards subject to total stockholder return as compared 
to an index of peer companies using a Monte Carlo simulation valuation model. Ciena reverses share-based 
compensation expense on performance based awards subject to total stockholder return only when the requisite 
service period is not reached. Assumptions for awards granted during fiscal 2024, fiscal 2023 and fiscal 2022 
included the following: 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Expected volatility of Ciena common 
stock, which is a weighted average 
of implied volatility and historical 
volatility . . . . . . . . . . . . . . . . . . . . . .
36.00% 
40.37% 
38.27% 
Historical volatility of Ciena common 
stock . . . . . . . . . . . . . . . . . . . . . . . . .
36.74% 
43.11% 
42.17% 
Volatility of S&P Networking 
Index(1) . . . . . . . . . . . . . . . . . . . . . . .
44.94% 
30.93% 
27.22% 
Correlation coefficient . . . . . . . . . . . . .
0.3665 
0.7781 
0.7049 
Expected life in years . . . . . . . . . . . . . .
2.89 
2.89 
2.89 
Risk-free interest rate . . . . . . . . . . . . . .
4.41% 
3.95% 
0.94% 
Expected dividend yield . . . . . . . . . . . .
0.0% 
0.0% 
0.0% 
(1) 
For fiscal 2023 and fiscal 2022, reflects the volatility of the S&P Networking Index as a whole. For fiscal 
2024, reflects the volatility of the median company within the S&P Networking Index as of the date of the 
award, measured as of the last day of fiscal 2023. 
The following table is a summary of Ciena’s restricted stock unit activity for the period indicated, with the 
aggregate fair value of the balance outstanding at the end of each period, based on Ciena’s closing stock price on 
the last trading day of the relevant period (shares and aggregate fair value in thousands): 
 
Restricted 
Stock Units 
Outstanding 
Weighted 
Average 
Grant Date 
Fair Value 
Per Share 
Aggregate Fair 
Value 
Balance at October 28, 2023 . . . . . . . . . . . . . . . . . .
4,922 
$53.42 
$201,916 
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4,080 
 
 
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2,382) 
 
 
Canceled or forfeited . . . . . . . . . . . . . . . . . . . . . . . .
(508) 
 
 
Balance at November 2, 2024 . . . . . . . . . . . . . . . . .
6,112 
$48.41 
$390,995 
As of both November 2, 2024 and October 28, 2023, 0.3 million of the total restricted stock units 
outstanding are performance based awards subject to total stockholder return. The total fair value of restricted 
stock units that vested and were converted into common stock during fiscal 2024, fiscal 2023 and fiscal 2022 was 
$116.9 million, $98.2 million and $119.0 million, respectively. The weighted average fair value of each restricted 
stock unit granted by Ciena during fiscal 2024, fiscal 2023 and fiscal 2022 was $44.57, $50.48 and $67.03, 
respectively. 
124 

Amended and Restated ESPP 
Ciena makes shares of its common stock available for purchase under the ESPP, under which eligible 
employees may enroll in a twelve-month offer period that begins in December and June of each year. Each offer 
period includes two six-month purchase periods. Employees may purchase a limited number of shares of Ciena 
common stock at 85% of the fair market value on either the day immediately preceding the offer date or the 
purchase date, whichever is lower. The ESPP is considered compensatory for purposes of share-based 
compensation expense. Unless earlier terminated, the ESPP will terminate on April 1, 2031. 
During fiscal 2024, Ciena issued 0.9 million shares and during fiscal 2023 and fiscal 2022, Ciena issued 
0.8 million and 0.7 million shares, respectively, under the ESPP. At November 2, 2024, 10.4 million shares 
remained available for issuance under the ESPP. 
Share-Based Compensation Expense 
The following table summarizes share-based compensation expense for the periods indicated (in thousands): 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
6,474 
$
4,518 
$
3,867 
Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12,743 
10,470 
7,533 
Share-based compensation expense included in 
cost of goods sold . . . . . . . . . . . . . . . . . . . . . . .
19,217 
14,988 
11,400 
Research and development . . . . . . . . . . . . . . . . . .
54,129 
42,331 
31,879 
Sales and marketing . . . . . . . . . . . . . . . . . . . . . . .
42,954 
35,136 
31,280 
General and administrative . . . . . . . . . . . . . . . . . .
40,053 
37,587 
30,435 
Share-based compensation expense included in 
operating expense . . . . . . . . . . . . . . . . . . . . . . .
137,136 
115,054 
93,594 
Share-based compensation expense capitalized in 
inventory, net . . . . . . . . . . . . . . . . . . . . . . . . . .
51 
413 
137 
Total share-based compensation . . . . . . . . . . . . . .
$156,404 
$130,455 
$105,131 
As of November 2, 2024, total unrecognized share-based compensation expense was $212.9 million which 
relates to unvested restricted stock units and is expected to be recognized over a weighted-average period of 1.33 
years. 
(24) SEGMENT AND ENTITY WIDE DISCLOSURES 
Segment Reporting 
Ciena has the following operating segments for reporting purposes: (i) Networking Platforms; (ii) Platform 
Software and Services; (iii) Blue Planet Automation Software and Services; and (iv) Global Services. 
Ciena’s long-lived assets, including equipment, building, furniture and fixtures, operating ROU assets, 
finite-lived intangible assets, and maintenance spares, are not reviewed by Ciena’s chief operating decision 
maker for purposes of evaluating performance and allocating resources. As of November 2, 2024, equipment, 
building, furniture and fixtures, net, totaled $337.7 million, and operating ROU assets totaled $27.4 million both 
of which support asset groups within Ciena’s four operating segments and unallocated selling and general and 
125 

administrative activities. As of November 2, 2024, finite-lived intangible assets, goodwill, and maintenance 
spares are assigned to asset groups within the following segments (in thousands): 
 
November 2, 2024 
 
Networking 
Platforms 
Platform Software 
and Services 
Blue Planet 
Automation 
Software and 
Services 
Global 
Services 
Total 
Other intangible assets, net . . . . . . . . . . . . . . . . .
$158,903 
$
—  
$ 6,117 
$
—  $165,020 
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$199,467 
$156,191 
$89,049 
$
—  $444,707 
Maintenance spares, net . . . . . . . . . . . . . . . . . . . .
$
—  
$
—  
$
—  
$77,918 $ 77,918 
Segment Profit (Loss) 
Segment profit (loss) is determined based on internal performance measures used by Ciena’s chief executive 
officer to assess the performance of each operating segment in a given period. In connection with that 
assessment, the chief executive officer excludes the following items: selling and marketing costs; general and 
administrative costs; significant asset impairments and restructuring costs; amortization of intangible assets; 
acquisition and integration costs; interest and other income, net; interest expense; loss on extinguishment and 
modification of debt; and provision for income taxes. 
The table below sets forth Ciena’s segment profit (loss) and the reconciliation to consolidated net 
income for the respective periods indicated (in thousands): 
 
Year Ended 
 
November 2, 2024 
October 28, 2023 
October 29, 2022 
Segment profit (loss): 
 
 
 
Networking Platforms . . . . . . . . . .
$536,510 
$ 778,641 
$572,305 
Platform Software and Services . .
231,900 
186,945 
175,108 
Blue Planet Automation Software 
and Services . . . . . . . . . . . . . . .
(11,892) 
(33,669) 
(22,388) 
Global Services . . . . . . . . . . . . . . .
195,575 
196,375 
210,663 
Total segment profit . . . . . . . . . . . . . . .
952,093 
1,128,292 
935,688 
Less: non-performance operating 
expenses 
 
 
 
Selling and marketing . . . . . . . . . .
510,668 
490,804 
466,565 
General and administrative . . . . . .
220,647 
215,284 
179,382 
Significant asset impairments and 
restructuring costs . . . . . . . . . . .
24,592 
23,834 
33,824 
Amortization of intangible 
assets . . . . . . . . . . . . . . . . . . . . .
29,569 
37,351 
32,511 
Acquisition and integration 
costs . . . . . . . . . . . . . . . . . . . . .
—  
3,474 
598 
Add: other non-performance financial 
items 
 
 
 
Interest and other income, net . . . .
50,261 
62,008 
6,747 
Interest expense . . . . . . . . . . . . . .
(97,028) 
(88,026) 
(47,050) 
Loss on extinguishment and 
modification of debt . . . . . . . . .
—  
(7,874) 
—  
Less: Provision for income taxes . . . . .
35,894 
68,826 
29,603 
Consolidated net income . . . . . . . . . . . .
$ 83,956 
$ 254,827 
$152,902 
126 

Entity Wide Reporting 
The following table reflects Ciena’s geographic distribution of equipment, building, furniture and fixtures, 
net, and operating ROU assets, with any country accounting for at least 10% of total equipment, building, 
furniture and fixtures, net, and operating ROU assets specifically identified. Equipment, building, furniture and 
fixtures, net, and operating ROU assets attributable to geographic regions outside of the United States and 
Canada are reflected as “Other International.” For the periods below, Ciena’s geographic distribution of 
equipment, building, furniture and fixtures, net, and operating ROU assets was as follows (in thousands): 
 
November 2, 2024 
October 28, 2023 
Canada . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$283,760 
$229,707 
United States . . . . . . . . . . . . . . . . . . . . . . . . . . .
49,195 
46,933 
Other International . . . . . . . . . . . . . . . . . . . . . .
32,184 
38,647 
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$365,139 
$315,287 
(25) OTHER EMPLOYEE BENEFIT PLANS 
Ciena has a Defined Contribution Pension Plan that covers a majority of its Canada-based employees. The 
plan covers all Canada-based employees who are not part of an excluded group. Total contributions (employee 
and employer) cannot exceed the lesser of 18% of participant earnings and an annual dollar limit of CAD$32,490 
(approximately $23,284 for 2024). This plan includes a required employer contribution of 1% for all participants 
and an employer matching contribution equal to 50% of the first 6% an employee contributes each pay period. 
During fiscal 2024, 2023 and 2022, Ciena made matching contributions of approximately CAD$11.6 million 
(approximately $8.3 million), CAD$10.6 million (approximately $7.6 million) and CAD$10.1 million 
(approximately $7.2 million), respectively. 
Ciena has a 401(k) defined contribution profit sharing plan that covers a majority of its United States-based 
employees. Participants may contribute up to 60% of base pay through pre-tax or Roth contributions, subject to 
certain limitations. The plan includes an employer matching contribution equal to 50% of the first 8% an 
employee contributes each pay period. Ciena may also make discretionary annual profit contributions up to the 
IRS regulated limit. Ciena has made no profit sharing contributions to date. During fiscal 2024, 2023 and 2022, 
Ciena made matching contributions of approximately $11.0 million, $10.4 million and $9.2 million, respectively. 
(26) COMMITMENTS AND CONTINGENCIES 
Tax Contingencies 
Ciena is subject to various tax liabilities arising in the ordinary course of business. Ciena does not expect 
that the ultimate settlement of these tax liabilities will have a material effect on its results of operations, financial 
position or cash flows. 
Litigation 
Ciena is subject to various legal proceedings, claims and other matters arising in the ordinary course of 
business, including those that relate to employment, commercial, tax and other regulatory matters. Ciena is also 
subject to intellectual property related claims, including claims against third parties that may involve contractual 
indemnification obligations on the part of Ciena. Ciena does not expect that the ultimate costs to resolve such 
matters will have a material effect on its results of operations, financial position or cash flows. 
Purchase Order Obligations 
Ciena has certain advanced orders for supply of certain long lead time components. As of November 2, 
2024, Ciena had $1.7 billion in outstanding purchase order commitments to contract manufacturers and 
component suppliers for inventory. In certain instances, Ciena is permitted to cancel, reschedule or adjust these 
orders. Consequently, only a portion of this amount relates to firm, non-cancelable and unconditional obligations. 
127 

(27) SUBSEQUENT EVENTS 
Stock Repurchase Program 
From the end of the fourth quarter of fiscal 2024 through December 13, 2024, Ciena repurchased 540,521 
shares of its common stock for an aggregate purchase price of $38.3 million at an average price of $70.82 per 
share, inclusive of repurchases pending settlement under its current stock repurchase program. As of 
December 13, 2024, Ciena has an aggregate of $961.7 million of authorized funds remaining under this 
repurchase program. 
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 
None. 
Item 9A. Controls and Procedures 
Disclosure Controls and Procedures 
As of the end of the period covered by this annual report, we carried out an evaluation under the supervision 
and with the participation of management, including our Chief Executive Officer and Chief Financial Officer, of 
our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act). 
Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure 
controls and procedures were effective as of the end of the period covered by this annual report. 
Changes in Internal Control over Financial Reporting 
There was no change in our internal control over financial reporting identified in connection with the 
evaluation required by Rules 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the most 
recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, our 
internal control over financial reporting. 
Report of Management on Internal Control Over Financial Reporting 
The management of Ciena Corporation is responsible for establishing and maintaining adequate internal 
control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act 
of 1934). 
The internal control over financial reporting at Ciena Corporation was designed to provide reasonable 
assurance regarding the reliability of financial reporting and the preparation of financial statements for external 
purposes in accordance with accounting principles generally accepted in the United States of America. Internal 
control over financial reporting includes those policies and procedures that: 
•
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the 
transactions and dispositions of the assets of Ciena Corporation; 
•
provide reasonable assurance that transactions are recorded as necessary to permit preparation of 
financial statements in accordance with accounting principles generally accepted in the United States 
of America; 
•
provide reasonable assurance that receipts and expenditures of Ciena Corporation are being made only 
in accordance with authorization of management and the Board of Directors of Ciena Corporation; and 
•
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use 
or disposition of assets that could have a material effect on the consolidated financial statements. 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect 
misstatements. 
128 

Management of Ciena Corporation assessed the effectiveness of the Company’s internal control over 
financial reporting as of November 2, 2024. Management based this assessment on criteria for effective internal 
control over financial reporting described in “COSO 2013 Internal Control—Integrated Framework” issued by 
the Committee of Sponsoring Organizations of the Treadway Commission. Based on this assessment, 
management determined that, as of November 2, 2024, Ciena Corporation maintained effective internal control 
over financial reporting. Management reviewed the results of its assessment with the Audit Committee of our 
Board of Directors. 
PricewaterhouseCoopers LLP, independent registered public accounting firm, which audited and reported 
on the consolidated financial statements of Ciena Corporation included in this annual report, has also audited the 
effectiveness of Ciena Corporation’s internal control over financial reporting as of November 2, 2024, as stated 
in its report appearing in Item 8 of Part II of this annual report. 
Item 9B. Other Information 
Rule 10b5-1 Trading Arrangements 
The following table describes, for the quarter ended November 2, 2024, each trading arrangement for the sale or 
purchase of our securities adopted, terminated or for which the amount, pricing or timing provisions were 
modified by our directors and officers (as defined in Rule 16a-1(f) of the Exchange Act) that is either (1) a 
contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a 
“Rule 10b5-1 trading arrangement”) or (2) a “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) 
of Regulation S-K): 
Name 
(Title) 
Action Taken 
(Date of Action) 
Type of Trading 
Arrangement 
Nature of 
Trading 
Arrangement 
Duration of Trading Arrangement 
Aggregate 
Number of 
Securities to be 
Purchased or 
Sold 
Dino DiPerna (Senior 
Vice President, 
Global Research & 
Development) . . . . . .
Adoption 
(September 11, 
2024) 
Rule 10b5-1 
trading 
arrangement 
Sales 
Until October 31, 2025, or such 
earlier date upon which all 
transactions are completed or 
expire without execution 
(1) 
Brodie Gage (Senior 
Vice President, 
Global Products & 
Supply Chain) . . . . . .
Adoption 
(September 6, 
2024) 
Rule 10b5-1 
trading 
arrangement 
Sales 
Until November 28, 2025, or 
such earlier date upon which 
all transactions are completed 
or expire without execution 
Up to 3,961 
shares of 
common 
stock 
Sheela Kosaraju 
(Senior Vice President 
and General Counsel, 
and acting Chief 
People Officer) . . . . .
Adoption 
(October 14, 
2024) 
Rule 10b5-1 
trading 
arrangement 
Sales 
Until January 9, 2026, or such 
earlier date upon which all 
transactions are completed or 
expire without execution 
(2) 
Jason Phipps (Senior 
Vice President, 
Global Customer 
Engagement) . . . . . . .
Adoption 
(October 9, 
2024) 
Rule 10b5-1 
trading 
arrangement 
Sales 
Until October 9, 2026, or such 
earlier date upon which all 
transactions are completed or 
expire without execution 
(3) 
Gary B. Smith 
(President and Chief 
Executive Officer) . . .
Adoption 
(September 11, 
2024) 
Rule 10b5-1 
trading 
arrangement 
Sales 
Until December 22, 2025, or 
such earlier date upon which 
all transactions are completed 
or expire without execution 
Up to 170,000 
shares of 
common 
stock 
(1) The aggregate number of shares of common stock to be sold pursuant to Mr. DiPerna’s arrangement is up to 
(i) 1,788 shares of common stock, plus (ii) 25% of the net after-tax shares of common stock to be received 
129 

as a result of the vesting of an aggregate of 17,207 restricted stock units on September 20, 2024, 
December 20, 2024, March 20, 2025, June 20, 2025, and September 20, 2025, plus (iii) 25% of the net 
after-tax shares of common stock to be received as a result of the vesting of up to 2,615 performance stock 
units on December 20, 2024. The actual number of net after-tax shares to be received will vary based on the 
market price of our common stock at the time of settlement. 
(2) The aggregate number of shares of common stock to be sold pursuant to Ms. Kosaraju’s arrangement is up 
to 100% of the net after-tax shares of common stock to be received as a result of the vesting of an aggregate 
of 16,923 restricted stock units on December 20, 2024, March 20, 2025, June 20, 2025, September 20, 2025, 
and December 20, 2025. The actual number of net after-tax shares to be received will vary based on the 
market price of our common stock at the time of settlement. 
(3) The aggregate number of shares of common stock to be sold pursuant to Mr. Phipps’s arrangement is up to 
(i) 14,381 shares of common stock, plus (ii) 100% of the net after-tax shares of common stock to be 
received as a result of the vesting of an aggregate of 28,736 restricted stock units on December 20, 2024, 
March 20, 2025, June 20, 2025, September 20, 2025, December 20, 2025, March 20, 2026, June 20, 2026, 
and September 20, 2026. The actual number of net after-tax shares to be received will vary based on the 
market price of our common stock at the time of settlement. 
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 
Not applicable. 
PART III 
Item 10. Directors, Executive Officers and Corporate Governance 
Information relating to our directors and executive officers is set forth in Part I of this annual report under 
the caption “Item 1. Business—Information About Our Executive Officers and Directors.” 
Additional information responsive to this item concerning our Audit Committee and regarding compliance 
with Section 16(a) of the Exchange Act is incorporated herein by reference from our definitive proxy statement 
with respect to our 2025 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end 
of the fiscal year covered by this Form 10-K. 
As part of our system of corporate governance, our Board of Directors has adopted a code of ethics that is 
specifically applicable to our chief executive officer and senior financial officers. This Code of Ethics for Senior 
Financial Officers, as well as our Code of Business Conduct and Ethics, applicable to all directors, officers and 
employees, are available on the “Corporate Governance” page of our website at www.ciena.com. We intend to 
satisfy any disclosure requirement under Item 5.05 of Form 8-K regarding an amendment to, or waiver from, a 
provision of the Code of Ethics for Senior Financial Officers by posting such information on our website at the 
address above. 
Item 11. Executive Compensation 
Information responsive to this Item is incorporated herein by reference from our definitive proxy statement 
with respect to our 2025 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end 
of the fiscal year covered by this annual report. 
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 
Information responsive to this Item is incorporated herein by reference from our definitive proxy statement 
with respect to our 2025 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end 
of the fiscal year covered by this annual report. 
130 

Item 13. Certain Relationships and Related Transactions, and Director Independence 
Information responsive to this Item is incorporated herein by reference from our definitive proxy statement 
with respect to our 2025 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end 
of the fiscal year covered by this annual report. 
Item 14. Principal Accountant Fees and Services 
Information responsive to this Item is incorporated herein by reference from our definitive proxy statement 
with respect to our 2025 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end 
of the fiscal year covered by this annual report. 
PART IV 
Item 15. Exhibits and Financial Statement Schedules 
(a) 1.
The information required by this item is included in Item 8 of Part II of this annual report. 
2. 
The information required by this item is included in Item 8 of Part II of this annual report. 
3. 
Exhibits: See Index to Exhibits, which is incorporated by reference in this Item. The Exhibits listed in 
the accompanying Index to Exhibits are filed herewith or incorporated by reference as part of this 
annual report. 
(b) Exhibits. See Index to Exhibits, which is incorporated by reference in this Item. The Exhibits listed in the 
accompanying Index to Exhibits are filed herewith or incorporated by reference as part of this annual report. 
(c) Not applicable. 
Item 16. Form 10-K Summary 
None. 
131 

SIGNATURES 
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant 
has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the 20th 
day of December 2024. 
Ciena Corporation 
By: /s/ Gary B. Smith 
Gary B. Smith 
President, Chief Executive Officer and Director 
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by 
the following persons on behalf of the registrant and in the capacities and on the date indicated. 
Signatures 
Title 
Date 
/s/ Gary B. Smith 
President, Chief Executive Officer 
and Director 
December 20, 2024 
Gary B. Smith 
 
(Principal Executive Officer) 
 
 
/s/ James E. Moylan, Jr. 
Sr. Vice President, Finance and 
Chief Financial Officer 
December 20, 2024 
James E. Moylan, Jr. 
 
(Principal Financial Officer) 
 
 
/s/ Andrew C. Petrik 
Vice President, Controller 
December 20, 2024 
Andrew C. Petrik 
 
 
(Principal Accounting Officer) 
 
 
/s/ Hassan M. Ahmed, Ph.D. 
Director 
December 20, 2024 
Hassan M. Ahmed, Ph.D. 
 
 
/s/ Bruce L. Claflin 
Director 
December 20, 2024 
Bruce L. Claflin 
 
 
/s/ Lawton W. Fitt 
Chair of the Board of Directors 
December 20, 2024 
Lawton W. Fitt 
 
 
/s/ Patrick T. Gallagher 
Director 
December 20, 2024 
Patrick T. Gallagher 
 
 
/s/ Devinder Kumar 
Director 
December 20, 2024 
Devinder Kumar 
 
 
/s/ Patrick H. Nettles, Ph.D. 
Director 
December 20, 2024 
Patrick H. Nettles, Ph.D. 
 
 
/s/ T. Michael Nevens 
Director 
December 20, 2024 
T. Michael Nevens 
 
 
/s/ Joanne B. Olsen 
Director 
December 20, 2024 
Joanne B. Olsen 
 
 
/s/ Mary G. Puma 
Director 
December 20, 2024 
Mary G. Puma 
 
 
132 

Shareholder Information
Notes to Investors
The Annual Report contains certain forward-looking statements regarding future events or results that involve risks and uncertainties. These statements are based on current 
expectations, forecasts, assumptions and other information available to Ciena as of the date hereof. Forward-looking statements include Ciena’s long-term financial targets, 
prospective financial results, return of capital plans, business strategies, expectations about its addressable markets and market share, and business outlook for future periods, as
well as statements regarding Ciena’s expectations, beliefs, intentions or strategies regarding the future. Often, these can be identified by forward-looking words such as “target”, 
“anticipate”, “believe”, “could“, “estimate”, “expect”, “intend”, “may”, “should”, “will”, “would”, “plan”, “predict”, “potential”, “project”, and “continue”, or similar words. Ciena’s actual
results, performance or events may differ materially from these forward-looking statements made or implied due to a number of risks, and uncertainties relating to Ciena’s business, 
including the effect of broader economic and market conditions on our customers and their business; our ability to execute our business and growth strategies; the impact of supply 
chain constraints or disruptions; the duration and severity of the COVID-19 pandemic and the impact of countermeasures taken to mitigate its spread on macroeconomic conditions, 
economic activity, demand for our technology solutions, short- and long-term changes in customer or end-user needs, continuity of supply chain, our business operations, liquidity and 
financial results; changes in network spending or network strategy by our customers; seasonality and the timing and size of customer orders, including our ability to recognize revenue 
relating to such sales; the level of competitive pressure we encounter; the product, customer and geographic mix of sales within the period; changes in foreign currency exchange 
rates; factors beyond our control such as natural disasters, climate change, acts of war or terrorism, geopolitical events, including but not limited to the ongoing conflict between 
Ukraine and Russia, and public health emergencies; changes in tax or trade regulations, including the imposition of tariffs, duties or efforts to withdraw from or materially modify 
international trade agreements; and the other risk factors disclosed in Ciena’s Annual Report and Form 10-K combined herein. All information, statements, and projections in the Annual 
Report speak only as of the date of the Annual Report. Ciena assumes no obligation to revise or update any forward-looking or other information included in this Annual Report, whether 
as a result of new information, future events, or otherwise. This document also includes certain adjusted or non-GAAP measures of Ciena’s results of operations. These measures are 
not intended to be a substitute for financial information presented in accordance with GAAP. A reconciliation of these non-GAAP measures to Ciena’s GAAP results are included in the 
press release for the event period available on Ciena.com.
Corporate Headquarters
Ciena Corporation
7035 Ridge Road
Hanover, MD 21076
Telephone: (800) 921 1144
or (410) 694 5700
ciena.com
Virtual Annual Meeting
Ciena’s annual meeting of shareholders
will be held at 3:00 p.m. (Eastern) on
Thursday, March 27, 2025. Please visit 
www.virtualshareholdermeeting.com/CIEN2025 
at least 10 minutes prior to the start time.
Independent Registered
Public Accounting Firm
PricewaterhouseCoopers LLP
Transfer Agent
Computershare Trust Company, N.A. 
P.O. Box 43078
Providence, RI 02940-3078
Stockholder Inquiries
(781) 575 2879
Computershare.com
Common Stock
Market Data
NYSE: CIEN
Investor Relations
For additional information, contact:
Investor Relations
Ciena Corporation
7035 Ridge Road
Hanover, MD 21076
Telephone: (877) 243 6273
Additional information is available on
Ciena’s website at investor.ciena.com

7035 Ridge Road
Hanover, MD 21076
(800) 921 1144
(410) 694 5700
ciena.com