{
  "generatedAt": "2026-10-09T04:57:40Z",
  "disclaimer": "Analysis and opinion, not investment advice.",
  "kind": "company",
  "slug": "ciena",
  "name": "Ciena",
  "ticker": "CIEN",
  "url": "https://deepstack.ltd/companies/ciena/",
  "api": "https://deepstack.ltd/api/v1/entities/companies/ciena.json",
  "summary": "Ciena appears in Part 11 of The Buildout. Part 11: The Backlog Is Not the Quarter.",
  "parts": [
    {
      "part": 11,
      "headline": "The Backlog Is Not the Quarter",
      "url": "https://deepstack.ltd/stories/the-backlog-is-not-the-quarter/"
    }
  ],
  "numbers": [
    {
      "value": "$10B",
      "label": "Ciena's backlog floor at the end of fiscal 2026",
      "context": "Ciena management, as reported by Gaetano, Sep 17, 2026; supply secured through fiscal 2029",
      "part": 11,
      "url": "https://deepstack.ltd/stories/the-backlog-is-not-the-quarter/"
    }
  ],
  "mentions": [
    {
      "part": 11,
      "section": "Lede",
      "excerpt": "On September 17, Gaetano reported that Ciena's management expects to end fiscal 2026 with at least $10 billion of backlog, has secured the supply to grow revenue at least 30% in fiscal 2027 and believes that supply carries the same growth through fiscal 2029, when the target is roughly $14 billion of revenue.",
      "url": "https://deepstack.ltd/stories/the-backlog-is-not-the-quarter/"
    },
    {
      "part": 11,
      "section": "Funded, not forecast",
      "excerpt": "Tower's $290 million is in hand and most of Oracle's $26 billion came prepaid, while Ciena's secured supply is a commitment to its suppliers that depends on its customers keeping theirs through fiscal 2029.",
      "url": "https://deepstack.ltd/stories/the-backlog-is-not-the-quarter/"
    },
    {
      "part": 11,
      "section": "A backlog is a promise",
      "excerpt": "Gaetano's case for Ciena rests on management extending its growth ambition through fiscal 2029.",
      "url": "https://deepstack.ltd/stories/the-backlog-is-not-the-quarter/"
    }
  ],
  "sides": [
    {
      "part": 11,
      "question": null,
      "side": "a-backlog-is-a-promise",
      "sideLabel": "A backlog is a promise",
      "claim": "The creator is much more bullish on Ciena over the past two weeks given upgraded guidance and the ECOC demos, and thinks Ciena is one company being under-appreciated for its late 2027/early 2028 time frame; CFO Marc Graff said the roughly $14B…",
      "date": "2026-09-24",
      "url": "https://gaetanoresearch.substack.com/p/major-optical-updates-main-takeaways",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-backlog-is-not-the-quarter/",
      "sidesUrl": "https://deepstack.ltd/sides/the-backlog-is-not-the-quarter/"
    }
  ],
  "coverage": {
    "creators": 5,
    "claims": 82,
    "texts": 24,
    "asOf": "2026-10-08"
  },
  "lastUpdated": "2026-10-08",
  "market": null
}