• Lumentum Holdings average gross margin for 2023 was 30.15%, a 30.61% decline from 2022.
• Lumentum Holdings average gross margin for 2022 was 43.45%, a 4.38% decline from 2021.
• Lumentum Holdings average gross margin for 2021 was 45.44%, a 15.24% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.