Coherent (formerly II-VI)

What Coherent (formerly II-VI) does

Coherent Corp. (formerly II-VI), founded in 1971 in Saxonburg, Pennsylvania, is a vertically integrated photonics company that designs, manufactures, and markets engineered materials, photonic devices, and laser-based systems. The company operates through three segments — Datacenter & Communications, Industrial, and Materials — and serves hyperscale datacenters, telecom carriers, semiconductor equipment makers, industrial manufacturers, electronics OEMs, and life sciences customers. It rebranded to Coherent in 2022 following the merger with Coherent Inc., and is listed on the NYSE under COHR with a market capitalization of approximately $44-48 billion as of March 2026 and S&P 500 inclusion effective March 23, 2026.

Coherent's technology platform spans silicon carbide substrates and diamond-loaded composites for thermal management, indium phosphide (InP) and GaAs optoelectronic devices, VCSEL arrays, and complete optical modules. Flagship offerings include the 1.6T-DR8 silicon photonics transceiver (built around Marvell's Ara 3nm optical DSP), 400G/lane and 3.2T transceivers, co-packaged optics (CPO) delivering 3.5x lower power than traditional transceivers, multi-rail C+L band transport platforms, Thermadite 800 liquid cold plates, and Bondable Diamond thermal interface solutions. The Industrial segment supplies CO2, fiber, excimer, diode, and ultrafast lasers, alongside precision systems such as StarCut Tube and ExactCut for medical device and electronics manufacturing. The Materials segment provides SiC substrates and epitaxy, thermoelectric modules, and engineered ceramics for power electronics and AI datacenter cooling.

Coherent generates revenue primarily through direct enterprise sales of hardware with multi-year contracts and customized quotes, complemented by recurring service and support revenue. Fiscal Q2 2026 revenue was $1.69 billion with adjusted EPS of $1.29, both exceeding consensus, following 23% revenue growth and a tripling of adjusted EPS in FY25. Recent strategic inflection includes a $2 billion Nvidia equity investment (March 2026) coupled with a multi-billion-dollar purchase commitment to scale silicon photonics for AI factories, a $50 million CHIPS Act grant for Sherman, Texas InP fab expansion, and divestiture of the Tools for Materials Processing unit to Bystronic. Coherent maintains a global footprint with manufacturing and R&D across the U.S., Germany, the U.K., and Asia Pacific.

Name

Coherent (formerly II-VI)

Legal name

Coherent Corp.

Website

https://coherent.com

Company type

Public

Founded year

1971

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Coherent Corp. (formerly II-VI) is a vertically integrated photonics company that develops optical transceivers, laser systems, and engineered materials including silicon carbide and diamond composites for AI datacenters, telecommunications, industrial manufacturing, and life sciences customers.

Ownership category

akta.pro rank

Product category

Photonics and Laser Technology

NAICS

Semiconductor and Other Electronic Component Manufacturing (3344)

SIC

Semiconductors & Related Devices (3674)

akta.pro primary industry

Optical Transceivers (SFP/SFP+/SFP28/QSFP/QSFP-DD/OSFP) (HDAFAEAE)

akta.pro secondary industries

Optoelectronic Emitters (LED/Laser/VCSEL) (HDAHALAL), Optoelectronic Receivers & Transceivers (Photodetectors/Optical Modules) (HDAHALAM), Optoelectronics & Photonics (LED/Laser/Optical ICs) (HDAHAAAH), Optoelectronic / Photonics Foundries (Silicon Photonics/LED/Laser) (HDAHACAG)

Keywords

• Photonics components
• Optical transceivers
• Industrial laser systems
• Silicon carbide substrates
• Optical networking technology

Headquarters

HQ city

Saxonburg

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Optical Transceivers and Datacom Products: Optical transceivers (400G, 800G, 1.6T), active optical cables, and datacenter interconnect solutions for AI infrastructure and hyperscale datacenters. Revenue from product sales and likely long-term supply agreements with major customers.
2. Lasers and Photonic Components: Industrial lasers including CO2, fiber, excimer, diode, and ultrafast lasers for manufacturing, medical, and scientific applications. Also includes laser systems for precision manufacturing, semiconductor processing, and display manufacturing.
3. Engineered Materials (SiC, Diamond Composites): Wide-bandgap semiconductor materials including silicon carbide substrates, epitaxial wafers, and advanced composites for power electronics, EV applications, and thermal management solutions.
4. Service and Support: Coherent Service provides technical support, maintenance, and optimization services for laser systems to maximize uptime and protect customer investments.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels7 records

Core offering

Coherent designs, manufactures, and sells photonics and laser-based products organized into three segments: Datacenter & Communications (optical transceivers including 1.6T-DR8 silicon photonics modules, telecom coherent modules, active optical cables, optical circuit switches), Industrial (CO2, fiber, diode, excimer, ultrafast lasers, and precision manufacturing systems for cutting/welding/marking), and Materials (silicon carbide substrates and epitaxy, diamond-SiC composites, bondable diamond thermal solutions, thermoelectric materials). Products are sold directly to hyperscale datacenter operators, telecom carriers, industrial OEMs, medical device manufacturers, and electronics companies.

Product overview

Coherent Corp. (formerly II-VI) is a global leader in materials, networking, and lasers, organized into three main operating segments: Datacenter & Communications, Industrial, and Materials. The company offers a vertically integrated portfolio spanning optical transceivers (including the 1.6T-DR8 silicon photonics transceiver), coherent telecom transceivers, active optical cables, and wavelength management solutions for AI datacenters and telecom networks. Its Industrial segment provides precision manufacturing tools including StarCut Tube laser cutting systems, ExactCut precision cutting, ExactMark laser marking, and manual welding systems, alongside a comprehensive laser portfolio spanning CO2, fiber, diode, excimer, ultrafast (Monaco), Ti:Sapphire (Chameleon), and green (Verdi) lasers. The Materials segment covers engineered materials including silicon carbide (SiC) substrates and epitaxy for wide-bandgap power electronics and AI datacenter thermal management, thermoelectric materials, and advanced ceramics. Coherent also offers thermal management solutions (diamond-silicon carbide composites, Bondable Diamond, Thermadite 800 liquid cold plates), medical imaging fiber assemblies (AxioView), programmable optical test instruments (WaveMaker 4000A, WaveShaper 1000A Sharp), bioinstrumentation laser engines (OBIS Galaxy, CellX), and quantum-safe networking solutions. The company traces its roots to 1971 and has grown through acquisitions including II-VI (2022) and multiple laser companies.

Differentiator

Problem solved

Functional benefit

Products and services

• 1.6T-DR8 Optical Transceiver Module
• Optical Circuit Switch (OCS)
• Datacom Optical Transceivers
• Telecom Optical Transceivers and Modules
• StarCut Tube Laser Cutting System
• ExactCut 430 Laser Cutting System
• ExactMark 210 TL Laser Marking System
• PowerLine Series Laser Marking Systems
• Manual Welding Systems
• CO2 Lasers
• Fiber Lasers
• Diode Lasers
• Excimer Lasers
• Monaco Ultrafast Femtosecond Laser
• Chameleon Ti:Sapphire Laser
• Verdi CW Green Laser
• Sapphire XT Compact Visible Laser
• 793nm Pump Laser Diode
• SES18-880A-190-10 18W 880nm Single-Emitter Laser Diode
• 400mW Continuous-Wave Lasers for Co-Packaged Optics
• CHR1074 224Gbps Quad-Channel Transimpedance Amplifier
• CHR1065 56 Gbaud PAM4 Transimpedance Amplifier
• WaveMaker 4000A Programmable Optical Spectrum Synthesizer
• WaveShaper 1000A Sharp Programmable Optical Filter
• AxioView Imaging Fiber Assemblies
• OBIS Galaxy Laser Engine
• CellX Laser Beam Combiner
• Silicon Carbide (SiC) Substrates and Epitaxial Wafers
• Diamond-Silicon Carbide Composite
• Bondable Diamond Thermal Interface Solutions
• Thermadite 800 Liquid Cold Plates
• Thermoelectric Materials and Modules
• VCSEL Arrays
• InP Optoelectronic Devices
• Pump Lasers
• Optical Amplifiers
• Coherent Service
• Coherent Quantum Entropy / Quantum-Safe Networking Solution

Quantifiable outcome

• 3.5x lower power consumption with co-packaged optics vs traditional optical transceivers
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Four partnerships are on record, tiered core and minor.

• BroadcomcoreStrategic or Co-development Partner · 17 March 2026Partnership to develop 1.6 Tbps transceivers using Broadcom's silicon photonics technology combined with Coherent's optical expertise for AI datacenter applications.
• MarvellcoreStrategic or Co-development Partner · 17 March 2026Partnership to develop 1.6 Tbps transceivers using Marvell's Ara 3nm optical DSP with Coherent's silicon photonics platform for AI datacenter interconnects.
• QUSIDEminorStrategic or Co-development Partner · 17 March 2026Joint development of quantum encryption solution and verifiable entropy source for quantum-safe encryption demonstrated at Photonics West 2026.
• BystronicminorChannel Partner/ Reseller/ Distributor · 2 February 2026Bystronic completed acquisition of Coherent's Tools for Materials Processing business unit, gaining access to laser applications including micro material processing, marking, engraving, and drilling for medical technology and semiconductor industries. The Rofin brand will operate under Bystronic Rofin.

Scale indicators12 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Marvell Technology: Co-developer partner on 1.6T-DR8 transceivers using Marvell's Ara 3nm optical DSP, and competitor in optical networking ASICs and DSPs for cloud and AI infrastructure.
• Lumentum: Direct peer in optical components, VCSEL arrays, and laser diodes for datacom and 3D sensing. Lumentum overlaps with Coherent across InP lasers, photonic integrated circuits, and datacom transceivers serving hyperscale customers.
• Broadcom: Co-developer on 1.6T transceivers and a direct competitor in optical DSP and pluggable transceivers for AI datacenters and Ethernet networking. Both companies target the same hyperscaler customers with silicon photonics-based interconnect solutions.
• Applied Optoelectronics: Designs and manufactures optical transceivers for datacom, CATV, and telecom. Direct competitor in 400G/800G transceivers targeting hyperscale and cloud customers, with vertically integrated laser production similar to Coherent's.
• Innolight: Leading Chinese-headquartered supplier of high-speed optical transceivers (400G/800G/1.6T) for hyperscale datacenters. Directly competes with Coherent in datacom transceivers serving Nvidia and other AI cluster operators.
• nLight: Competes in semiconductor lasers (diode and fiber) for industrial, defense, and medical applications. Overlaps with Coherent's high-power diode laser portfolio and direct-diode products.
• IPG Photonics: Leading manufacturer of high-power fiber lasers and amplifiers for industrial materials processing. Direct competitor in industrial laser systems and adjacent in laser-based manufacturing.

Broad incumbents

• Cisco Systems: Broad incumbent in networking hardware with growing optical transceiver and silicon photonics initiatives. Acquires and competes in 800G/1.6T optics for AI datacenter switching, overlapping with Coherent's transceiver customer base.
• Ciena: Major incumbent in coherent optical networking systems for telecom carriers and DCI, overlapping with Coherent's telecom transceiver portfolio. Ciena operates more broadly as a systems vendor while Coherent is more components/module-focused.
• Mitsubishi Electric: Broad incumbent in optical devices (laser diodes, modules) and power semiconductors including SiC. Overlaps with Coherent across laser components for industrial, telecom, and emerging EV/SiC power electronics applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/coherentcorp
• YouTubeyoutube.com/@CoherentCorp
• Facebookfacebook.com/CoherentCorp
• LinkedInlinkedin.com/company/coherent-corp
• Instagraminstagram.com/coherent_corp
• TikToktiktok.com/@coherent_corp

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A16 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coherent (formerly II-VI)