Inertial Labs, divize společnosti VIAVI Solutions, uvedla platformu INS-NV určenou pro vývoj navigačních systémů s procesorem pro umělou inteligenci NVIDIA Jetson Orin NX a přijímačem GNSS.
INS-NV with AI processor, tactical-grade MEMS sensors and full-constellation GNSS receiver reduces time to market for visual and inertial navigation systems
, /PRNewswire/ -- Inertial Labs, a VIAVI Solutions Inc. (VIAVI) (NASDAQ: VIAV) Company, today launched the INS-NV, a programmable development platform that combines inertial navigation system (INS), attitude and heading reference system (AHRS) and an NVIDIA® Jetson Orin™ NX module.
INS-NV with AI processor, tactical-grade MEMS sensors and full-constellation GNSS receiver reduces time to market for visual and inertial navigation systems
The high-performance and modular development platform hosts demanding machine vision and navigation algorithms for advanced Alternative Position, Navigation and Timing (Alt-PNT) systems. The integration of the powerful edge AI processor accelerates development and reduces the time that has traditionally been required to integrate the INS system and software.
The INS-NV simplifies the development of real-time navigation and sensor fusion systems for maintaining operation in highly dynamic GNSS-denied and -compromised environments. It leverages the Inertial Labs aiding data ecosystem, sensor fusion filters, calibration software and state-of-the-art navigation algorithms to deliver precise time, position, velocity and attitude measurements. This includes the integration of fully calibrated tactical-grade MEMS accelerometers and gyroscopes, barometric altimeter, magnetometers and full-constellation GNSS receiver (GPS, QZSS, GLONASS, Galileo, BeiDou, NavIC).
The platform is also highly expandable, enabling the additional integration of both Inertial Labs sensor modules and commercial off-the-shelf vision cameras.
"Visual navigation needs continuous information about vehicle position, orientation and time. Because these systems have traditionally lacked a high-end processor, developers have to spend considerable R&D time and budget to integrate their software with the INS, and that's before they build a platform," said Jamie Marraccini, Vice President, Inertial Labs Products, VIAVI. "The advanced sensor fusion addresses this challenge, enabling developers to run their own visual navigation stacks alongside our INS and AHRS technologies, and more quickly create advanced alternative navigation and PNT systems."
The INS-NV is available immediately, with MAVLink, ASPN-, pntOS- and MOSA-compliant variants available on request.
About VIAVI PNT
VIAVI Solutions delivers a breakthrough solution for GPS/GNSS-denied environments, combining resilient timing from Jackson Labs with precision navigation from Inertial Labs. Backed by advanced sensor fusion, this combination of GNSS transcoding with exceptional holdover and precision dead reckoning provides unmatched reliability, security and effortless operation when it matters most.
About VIAVI
VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test and measurement and resilient position, navigation and timing solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.
Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.
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Grand Bridges
Emma Jenkins
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Podíl organizací s plně integrovanými síťovými a bezpečnostními operacemi NetSecOps meziročně vzrostl o 37 % na 37 %; dalších 45 % organizací je v procesu přechodu.
Eighteenth annual study reveals strategic initiatives to drive network resilience and security, including NetSecOps adoption, pre-deployment testing and balancing security and performance
, /PRNewswire/ -- There has been a 37% increase in organizations that have fully converged their network and security operations over the past year, according to VIAVI Solutions Inc.'s (NASDAQ: VIAV) 2027 State of the Network study.
This annual study, now in its 18th edition, focuses on current drivers and best practices for network performance and security, seeking insights into priorities and outcomes. The research was conducted by Omdia using surveys of 750 networking and security personnel spanning seven countries, including Brazil, Canada, France, Germany, Mexico, the United Kingdom and the United States. Participants represented different levels within IT, from leadership to management, across a wide range of organization sizes and industry verticals.
The survey reported a 10-point rise in completed deployments (from 27% in 2025 to 37% in 2026). An additional 45% of respondents stated they were in the process of converging network and security operations, meaning just over four-fifths of enterprises (82%) have undergone or are undergoing the move to NetSecOps.
Forty-four percent of those that had completed the switch cited enhanced security as a key benefit of converging, with 30% noticing a reduced time to detect issues since deploying a NetSecOps approach. Twenty-two percent cited a reduction in the reported number of incidents and 22% stated the time to investigate had reduced. Additionally, those that had implemented a NetSecOps strategy were 2.7 times more likely to have reported a significant improvement in mean-time-to-detect (MTTD) rates (35 vs. 13%).
"The increase in completed conversion and the benefits being cited in the State of the Network Study are consistent with the experience of our customers," said Chris Labac, Vice President and General Manager, Network Performance and Threat Solutions, VIAVI. "Aligning a converged NetSecOps organizational model with integrated network monitoring and security platforms is a critical success factor for enterprises today."
"As an organization's attack surface expands, driven by increasingly sophisticated and AI-enabled threats, NetOps and SecOps teams need shared visibility to strengthen their security posture," said Jim Frey, Principal Analyst, Networking, Enterprise Strategy Group from Informa Tech Target. "With around a fifth of enterprises still without a defined strategy, the challenge is to reach these organizations and demonstrate the benefits of a converged NetSecOps approach."
Another strategic approach organizations are using to improve network performance and security is structured testing. The most common approach, cited by more than half of respondents, is pre-deployment validation of new technologies, such as post-quantum cryptography (PQC), AI security, SASE and cloud networking. Among respondents conducting testing, 52% reported seeing fewer outages and service disruptions, 44% reported a reduced number and/or severity of security incidents and 42% reported improvements in either application performance or latency.
The survey also highlighted that most organizations were using multiple strategies to mitigate the impact of security measures on network performance. Sixty-five percent of respondents reported the use of AI and ML tools to optimize both security and performance, 65% conduct capacity planning to prevent security measures from straining the network, 58% have adopted pre-deployment testing of network and security controls, and 58% again use ongoing, continuous testing and tuning of security controls to minimize performance impact.
About VIAVI
VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test and measurement, and resilient Position, Navigation and Timing (PNT) solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.
Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.
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Emma Jenkins
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Americká armáda vybrala softwarově definovaný transceiver T/Rx od společnosti VIAVI k vytváření realistického elektromagnetického prostředí ve zkušebních prostorech pro vývoj dronů, systémů proti dronům a interceptorů.
The T/Rx will deliver complex, realistic electromagnetic environments across newly opened Army test ranges to support drones, counter-drones and interceptor development
, /PRNewswire/ -- VIAVI Solutions Inc. (NASDAQ: VIAV) today announced that the U.S. Army's Threat Systems Management Office (TSMO), under Portfolio Acquisition Executive C2/CC2, has selected the VIAVI T/Rx software defined transceiver system to provide electromagnetic spectrum (EMS) environment at Army test ranges recently opened to private industry.
The T/Rx will deliver complex, realistic electromagnetic environments across newly opened Army test ranges to support drones, counter-drones and interceptor development
This selection supports the Test Range Private Industry Initiative, a landmark effort to open five premier range facilities to commercial developers of drones, counter-drone systems, long-range fires and low-cost interceptors to support rapid innovation at scale. The Army's initiative allows companies, including those without existing government contracts, to access the range infrastructure and accelerate the development of emerging warfighter technologies.
Realistic testing at these ranges depends on the ability to replicate the contested electromagnetic environments encountered on the modern battlefield. TSMO will utilize the VIAVI T/Rx system to fulfill a large portion of this requirement, leveraging the system's industry-leading EMS monitoring, recording, analysis and transmission capabilities.
"The Army's test range expansion initiative is the kind of acquisition reform that accelerates capability delivery to warfighters," said Doug Russell, Senior Vice President and General Manager, Aerospace & Defense, VIAVI Solutions. "VIAVI is proud to be selected by TSMO to provide the electromagnetic spectrum environment that makes these ranges operationally realistic. The T/Rx was designed to deliver the complexity and programmability that modern test events demand, and we look forward to supporting the development of the next generation of drones, counter-drones and interceptors."
Camp Grayling, one of the designated sites under the Test Range Private Industry Initiative, hosted a recurring electromagnetic unreliability test in September 2026. The VIAVI T/Rx system delivered on-demand EMS complexity, which is designed to reproduce contested electronic warfare conditions observed in Ukraine and enable developers to harden drone and counter-drone systems accordingly.
The T/Rx system is a compact, rugged, commercial software defined transceiver that combines simultaneous signal generation and collection in a single field-deployable unit. Operating across a broad range of instantaneous bandwidth, the T/Rx enables test range operators to create complex, diverse electromagnetic environments on demand, generating representative waveforms, frequency-agile emitters and multi-signal scenarios that replicate real-world contested EMS conditions.
About VIAVI
VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test and measurement, and resilient Position, Navigation and Timing (PNT) solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.
Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.
Media Inquiries:
Grand Bridges
Emma Jenkins
[email protected]
+1 415 800 4529
Viavi Solutions zvýšila ve fiskálním čtvrtém čtvrtletí tržby segmentu NSE meziročně o 69,2 % na 353,9 mil. USD díky poptávce po testování datových center pro AI.
Key Takeaways VIAV surged 268.5% in a year as AI data-center demand, margins and testing capabilities improved.NSE revenues jumped 69.2% to $353.9M, driven by testing demand and contributions from Spirent.VIAV expects fiscal Q1 revenues of $450M-$460M and non-GAAP EPS of 40-42 cents. Viavi Solutions Inc. (VIAV - Free Report) has surged 268.5% over the past year compared with the industry’s growth of 148.5%. It has outperformed peers like Corning Incorporated (GLW - Free Report) and Ooma, Inc. (OOMA - Free Report) . While Corning has gained 92.4%, OOMA jumped 79.9% during this period. The more than threefold growth was largely buoyed by growing investor optimism over Viavi’s rising exposure to artificial intelligence (AI)-driven data-center spending, improving profitability and expanding testing capabilities.
One-Year VIAV Stock Price Performance
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AI Data-Center Boom: Key Growth CatalystViavi is increasingly benefiting from the rapid buildout of AI and hyperscale data center infrastructure. Demand for high-speed optical, Ethernet and network-testing solutions remains healthy as cloud service providers, semiconductor companies and networking vendors invest heavily in increasingly complex AI infrastructure.
The data-center ecosystem now accounts for roughly half of Network and Service Enablement (NSE) revenues, underscoring the growing importance of this market to Viavi’s growth profile.
In the fiscal fourth quarter, NSE revenues surged 69.2% year over year to $353.9 million.
Growth was supported by robust demand for lab, production and field-testing solutions, strength in aerospace and defense and contributions from the acquired Spirent businesses. The Spirent assets have also strengthened Viavi’s capabilities in high-speed Ethernet testing, network security and channel emulation. The broader portfolio should support cross-selling opportunities while helping the company address increasingly sophisticated testing requirements across AI clusters and next-generation networks.
Margin Expansion Strengthens the Earnings StoryViavi exited fiscal 2026 on a strong note, with both revenues and profitability exhibiting healthy improvement. Revenues increased 40% year over year to $1.52 billion, while non-GAAP earnings surged 112.8% to $1 per share.
Non-GAAP operating margin expanded 630 basis points to 20.6%. The sharp improvement highlights stronger operating leverage and suggests that rising revenues are translating effectively into earnings growth.
This margin expansion is particularly encouraging as Viavi integrates Spirent and increases its exposure to higher-growth markets such as AI data centers, aerospace and defense and advanced wireless testing.
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Upbeat Outlook Points to Continued MomentumManagement expects the positive momentum to extend into fiscal 2027. For the fiscal first quarter, Viavi projects revenues in the range of $450 million to $460 million and non-GAAP earnings of 40-42 cents per share. Both metrics indicate sequential improvement from the June quarter.
The outlook suggests that healthy demand trends are continuing across several important end markets. In addition to AI-related data-center opportunities, aerospace and defense remain a key growth avenue, particularly for positioning, navigation and timing solutions. Strength in these markets also helps diversify Viavi’s business and reduces its historical dependence on telecom carrier spending.
6G and Wireless Testing: Other Growth PillarsViavi is also positioning itself for emerging opportunities in next-generation wireless technologies. The company’s Vertex 6.0 advanced channel emulator is designed for 6G and Wi-Fi 7/8 testing. The platform supports up to 400 MHz of instantaneous bandwidth and carrier frequencies of up to 23.6 GHz, while extending across cellular, Wi-Fi, military and aerospace applications.
Viavi is also participating in the SHIELD-6G project, using its TeraVM AI RAN Scenario Generator to develop digital twins for AI-driven security testing. These developments broaden Viavi’s wireless-testing opportunity and provide exposure to emerging markets such as 6G, Wi-Fi, AI-RAN and specialized RF testing. Although these markets are still developing, early positioning could give VIAVI additional long-term growth opportunities.
Estimate TrendThe earnings estimate trend also remains favorable. The Zacks Consensus Estimate for Viavi’s fiscal 2027 earnings has increased 165.6% over the past year to $1.62 per share. Upward earnings estimate revisions generally reflect improving confidence in a company’s operating outlook. In Viavi’s case, the positive trend appears consistent with improving margins, healthy demand and growing contributions from acquired businesses.
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Should Investors Chase Viavi After the Rally?Viavi’s 268.5% share price rally has been supported by a substantial improvement in business fundamentals. AI data-center demand is strengthening, the Spirent acquisition has expanded the company’s addressable market, profitability is improving and aerospace and defense continue to provide diversification. The company also appears well-positioned to benefit from long-term growth opportunities in 6G, Wi-Fi, AI-RAN and advanced network testing.
VIAV sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Riding on a robust earnings surprise history and favorable Zacks Rank, Viavi appears primed for further stock price appreciation. Consequently, investors are likely to profit if they bet on this high-flying stock now.
Viavi spustila CyberFlood CF50, 1U platformu pro testování výkonu aplikací, bezpečnosti a AI inference až do 100G. Nabízí nízkou spotřebu, podporu postkvantové kryptografie a výkon TLS 1,75× proti nejbližšímu konkurentovi.
Key Takeaways VIAV launched CyberFlood CF50, a 1U platform for testing application performance, security and AI inference.CyberFlood CF50 generates encrypted traffic to assess network scalability, resilience and security controls.Viavi's platform offers low power use, post-quantum support and 1.75x the nearest rival's TLS performance. Viavi Solutions Inc. (VIAV - Free Report) has launched the CyberFlood CF50, an all-in-one platform for testing application performance, security and artificial intelligence (AI) inference at speeds of up to 100G. The solution enables network equipment manufacturers, systems integrators, service providers and enterprises to evaluate modern network and security infrastructure before deployment.
Viavi’s CyberFlood CF50 combines Layer 4-7 traffic generation, security assessment and AI inference testing in a compact 1U appliance. It produces realistic encrypted and mixed application traffic, enabling organizations to assess network scalability, resilience and performance while evaluating the effects of security controls and AI-driven services. The system is designed to support modern environments built around encrypted applications and Zero Trust architectures.
The company’s new platform offers the industry’s lowest power consumption, native post-quantum cryptography support, and TLS performance claimed to be 1.75 times that of the nearest competitor. It also features a web-based interface that eliminates the need for an MS Windows client and supports automated goal-seeking, MITRE ATT&CK frameworks and repeatable traffic-mix testing, helping organizations conduct consistent validation across modern network and security infrastructure.
As demand grows for reliable testing of security-focused and AI-enabled infrastructure, Viavi is expanding the CyberFlood portfolio beyond the CF1000 with a more portable enterprise-scale solution. The latest product could support the company’s future growth as organizations increasingly invest in advanced networking, security and AI technologies.
How Are Competitors Advancing?Viavi faces competition from ADTRAN Holdings, Inc. (ADTN - Free Report) and Anterix Inc. (ATEX - Free Report) . ADTRAN is strengthening its testing capabilities for next-generation broadband and network technologies. The company has been working on solutions to help service providers validate network performance, reliability and compatibility. ADTRAN’s portfolio includes fiber-access technologies such as XGS-PON and 10G Combo PON, helping operators to expand their high-speed broadband networks.
Anterix began testing the integration of its 900 MHz private wireless spectrum with Lynk Global’s satellite direct-to-device technology following FCC approval. The trials involve land mobile radios, smartphones, computers, routers and edge devices across multiple geographic locations. Anterix’s testing focuses on integrating satellite connectivity with private wireless networks to support communications for critical infrastructure.
VIAV’s Price Performance, Valuation & EstimatesViavi’s shares have skyrocketed 229.6% over the past year compared with the industry’s growth of 139.6%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 24.94 forward earnings, lower than 35.73 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for 2026 have increased 32.8% to $1.62 per share over the past 60 days, while those for 2027 have risen 24% to $1.86.
Image Source: Zacks Investment Research
Viavi stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
VIAVI Solutions za poslední rok vzrostla o 196,4 % díky poptávce po datových centrech s AI a zlepšení ziskovosti. Tržby ve fiskálním roce 2026 stouply o 40 % na 1,52 mld. USD a non-GAAP EPS vyskočil o 112,8 % na 1 USD.
Key Takeaways VIAV shares surged 196.4% in a year as AI data-center demand and profitability improved.Fiscal 2026 revenue rose 40% to $1.52B, while non-GAAP EPS jumped 112.8% to $1.Spirent assets, aerospace demand and Vertex 6.0 broaden VIAV's testing reach into 6G and Wi-Fi. Shares of Viavi Solutions Inc. (VIAV - Free Report) have surged 196.4% over the past year compared with the industry’s growth of 142.1%. It has outperformed peers like Corning Incorporated (GLW - Free Report) and Ooma, Inc. (OOMA - Free Report) . While Corning has gained 95.2%, OOMA jumped 77.4% during this period.
The uptrend reflects investors’ growing optimism surrounding its exposure to artificial intelligence (AI) data centers, improving profitability and expanding testing capabilities. After such a strong rally, investors may wonder whether the stock still has enough fundamental strength to warrant a place in their portfolios.
One-Year VIAV Share Price Performance
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AI Data Center Momentum Fuels GrowthVIAVI is increasingly benefiting from the rapid expansion of AI and hyperscale data-center infrastructure. Demand for high-speed optical, Ethernet and network-testing solutions has strengthened as cloud operators, semiconductor companies and networking vendors invest in increasingly complex AI infrastructure.
The data-center ecosystem now accounts for roughly half of Network and Service Enablement (NSE) revenues. In the fiscal fourth quarter, NSE revenues jumped 69.2% year over year to $353.9 million, aided by robust demand for lab, production and field-testing products, aerospace and defense solutions and contributions from the acquired Spirent businesses.
The Spirent assets have strengthened VIAVI’s position in high-speed Ethernet testing, network security and channel emulation. The broader portfolio should create cross-selling opportunities while helping the company address growing testing requirements associated with AI clusters and next-generation networks.
Improving Profitability, Upbeat Outlook Lend SupportVIAVI exited fiscal 2026 on a strong note. Revenues increased 40% year over year to $1.52 billion, while non-GAAP earnings surged 112.8% to $1 per share. Non-GAAP operating margin expanded 630 basis points to 20.6%, highlighting solid operating leverage.
Management expects the momentum to continue. For the first quarter of fiscal 2027, VIAVI projects revenues between $450 million and $460 million and non-GAAP earnings of 40-42 cents per share. Both estimates imply sequential improvement from the June quarter.
Healthy aerospace and defense demand, particularly for positioning, navigation and timing solutions, provides another growth avenue and helps reduce VIAVI’s historical dependence on telecom carrier spending.
6G and Wireless Portfolio ExpansionViavi is broadening its wireless testing opportunity with Vertex 6.0, an advanced channel emulator designed for 6G and Wi-Fi 7/8 testing. The platform supports up to 400 MHz instantaneous bandwidth and carrier frequencies up to 23.6 GHz, while extending coverage to cellular, Wi-Fi, military and aerospace applications. Viavi is also participating in the SHIELD-6G project, using its TeraVM AI RAN Scenario Generator to develop digital twins for AI-driven security testing. These developments expand VIAV’s wireless portfolio following the Spirent acquisition and create additional exposure to 6G, Wi-Fi, AI-RAN and specialized RF testing as these technologies develop.
Estimate TrendEarnings estimates for VIAV for fiscal 2027 have moved up 32.8% to $1.62 over the past 60 days. Such positive estimate revisions indicate growing confidence in VIAV’s earnings potential.
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End NoteVIAVI’s 196.4% rally has been supported by a healthy improvement in its fundamentals rather than momentum alone. Robust AI data-center demand, Spirent-related opportunities, aerospace and defense strength and expanding margins provide a solid foundation for further growth.
Hence, this seems to be a good time for new investors to bet on the stock. VIAV sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
VIAVI Solutions oznámila, že tržby NSE ve 4. čtvrtletí meziročně vzrostly o 69,2 % na 353,9 milionu USD a překonaly odhad. Firma čeká další silné čtvrtletí, ale varuje před kolísáním výdajů datových center.
Key Takeaways VIAVI's NSE revenues jumped 69.2% year over year in Q4, driven by strong demand trends.The transition toward 1.6T networking could support demand for VIAVI's testing solutions.VIAVI expects strong NSE performance, but fluctuations in data center spending remain a key risk. VIAVI Solutions Inc. (VIAV - Free Report) is seeing strong momentum in its Network and Service Enablement (NSE) business. During the fourth quarter, NSE’s Segment revenues reached $353.9 million, up 69.2% year over year, exceeding the company's guidance range of $340-$348 million. There are several factors driving this uptick.
The data center ecosystem is now a contributor to VIAVI's NSE business growth. The company is witnessing demand from semiconductor companies, optical module manufacturers, network equipment manufacturers and hyperscalers. Companies in this sector are rapidly adopting testing solutions across research and development, production, deployment, maintenance and network monitoring. Migration toward higher-speed networking is another major contributor. 800G remains the largest volume driver currently. The ramp of 1.6-terabit technology is expected to be another growth driver in upcoming quarters.
The integration of selected Spirent product lines is another tailwind for NSE. The acquisition strengthens VIAVI's portfolio in high-speed Ethernet and expands its capabilities in network validation and security testing. VIAVI is also developing products for next-generation AI networks. In June 2026, the company introduced an Ultra Ethernet Transport validation solution for AI fabrics. The platform is designed for hyperscalers, cloud providers, neocloud operators and network equipment manufacturers. Such leading-edge innovation expands Viavi’s addressable market beyond conventional telecom testing.
Management expects another strong performance in the first quarter of 2027 in the NSE segment. It expects NSE revenues of $360-$368 million compared with $353.9 million in the fiscal fourth quarter. NSE operating margin is expected at 23.1%, plus or minus 50 basis points.
Despite strong growth prospects, investors should also consider certain risk factors. Traditional wireless testing demand remains soft. Heavy reliance on continued data center investment and potential fluctuations in customer spending can create volatility in the NSE segment.
How Are Key Test-and-Measurement Peers Faring?Keysight Technologies’ (KEYS - Free Report) CSG generated $1.35 billion in revenues, up from the year-ago quarter’s $940 million. The 43% year-over-year increase was driven by strong performance in wireline and wireless, as well as continued momentum in AI infrastructure and aerospace, defense and government. Emerging 6G and non-terrestrial network opportunities also supported demand. Keysight’s portfolio across design, emulation and test positions it to capture ongoing wireless and network investment cycles. In the third quarter of fiscal 2026, wireless orders grew again as customers increased spending on next-generation connectivity and the supply chain supporting AI infrastructure.
Teradyne, Inc. (TER - Free Report) is a provider of automated test equipment and robotics, with its operations spanning Semiconductor Test, Product Test and Robotics. Its testing portfolio covers semiconductors, wireless products, silicon photonics and complex electronics. Teradyne is also benefiting from the rise in AI-related semiconductor demand. In the second quarter of 2026, revenues reached a record $1.33 billion, up 104% year over year, with Semiconductor Test contributing $1.12 billion, Product Test $107 million and Robotics $100 million.
VIAV’s Price Performance, Valuation and EstimatesViavi has gained 196% in the past year compared with the Electronics - Measuring Instruments industry’s growth of 146.9%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company’s shares currently trade at 22.82 forward earnings, lower than 35.95 for the industry and lower than its mean of 39.43.
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The company’s earnings estimates for 2026 and 2027 have improved over the past 60 days.
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VIAV sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
VIAVI Solutions získala certifikaci CMMC Level 2 pro své produktové řady v oblasti radio testů, avioniky, syntetických a modulárních řešení a PNT. Firma tím posiluje pozici důvěryhodného partnera pro vládu a obranný sektor.
Certification to CMMC advanced cybersecurity standard strengthens company's position as a trusted partner to government, defense and national security partners
, /PRNewswire/ -- VIAVI Solutions LLC, the Aerospace and Defense division of VIAVI Solutions Inc. (VIAVI) (NASDAQ: VIAV) today announced the successful completion of its Level 2 CMMC certification for its radio test, avionics, synthetic and modular, and Position, Navigation and Timing (PNT) product lines.
The CMMC assessment process was conducted by leading C3PAO A-LIGN, an experienced federal assessor and compliance partner trusted by more than 6,400 global organizations to help mitigate cybersecurity risks.
Certification to CMMC advanced cybersecurity standard strengthens company’s position as a trusted partner to government, defense and national security partners "Achieving CMMC Level 2 certification reflects our dedication to safeguarding the sensitive information that underpins national security and reinforces our role as a trusted partner to the U.S. Defense Industrial Base (DIB)," said Doug Russell, Senior Vice President and General Manager, Aerospace and Defense, VIAVI. "We look forward to extending the certification to the Inertial Labs product lines, which were acquired by VIAVI in 2025."
CMMC was developed by the U.S. Department of Defense (DoD) to ensure that cybersecurity controls and processes adequately protect Controlled Unclassified Information (CUI) that resides on DIB systems and networks to protect national security. This certification is mandatory for all entities doing business with the DoD.
"Congratulations to the VIAVI Aerospace and Defense team for achieving CMMC Level 2 certification. This accomplishment demonstrates a strong commitment to safeguarding valuable information to protect our nation, developing a competitive advantage, and creating a culture of security," said Petar Besalev, Executive Vice President of Compliance and Cybersecurity Services, A-LIGN. "We're proud to support this integral step in VIAVI's compliance journey with a high-quality assessment process and deep expertise in federal compliance."
This certification demonstrates VIAVI's commitment to safeguarding the United States' national security by complying with CMMC's rigorous standards and protecting federal contract information and CUI.
About VIAVI
VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test and measurement, and resilient Position, Navigation and Timing (PNT) solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.
Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.
Media Inquiries:
Grand Bridges
Emma Jenkins
[email protected]
+1 415 800 4529
Bank of America Corp DE ve 2. čtvrtletí koupila nový podíl ve Viavi Solutions v hodnotě zhruba 134,9 mil. USD. Získala 2 825 602 akcií a držela 1,21% podíl ve společnosti.
Bank of America Corp DE purchased a new stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,825,602 shares of the communications equipment provider’s stock, valued at approximately $134,922,000. Bank of America Corp DE owned 1.21% of Viavi Solutions at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VIAV. WPG Advisers LLC increased its position in Viavi Solutions by 96.2% during the 1st quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 380 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in Viavi Solutions by 83.2% during the second quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 387 shares in the last quarter. Silvant Capital Management LLC purchased a new stake in Viavi Solutions during the second quarter worth approximately $33,000. Persistent Asset Partners Ltd purchased a new stake in Viavi Solutions during the second quarter worth approximately $38,000. Finally, Trust Point Inc. increased its position in shares of Viavi Solutions by 8.0% in the second quarter. Trust Point Inc. now owns 12,177 shares of the communications equipment provider’s stock worth $581,000 after acquiring an additional 901 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.
Viavi Solutions Price Performance Shares of VIAV opened at $34.74 on Friday. Viavi Solutions Inc. has a 52 week low of $12.05 and a 52 week high of $60.43. The company has a current ratio of 1.85, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of -231.58 and a beta of 1.22. The stock has a 50 day moving average of $38.37 and a 200-day moving average of $41.70.
Viavi Solutions (NASDAQ:VIAV – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%.The business had revenue of $443.10 million for the quarter, compared to analyst estimates of $432.62 million. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue was up 52.5% compared to the same quarter last year. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. As a group, analysts forecast that Viavi Solutions Inc. will post 1.32 EPS for the current year. Insider Buying and Selling at Viavi Solutions In other news, EVP Paul McNab sold 11,032 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $38.97, for a total value of $429,917.04. Following the transaction, the executive vice president directly owned 25,639 shares in the company, valued at approximately $999,151.83. This trade represents a 30.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ilan Daskal sold 56,290 shares of Viavi Solutions stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $36.29, for a total transaction of $2,042,764.10. Following the completion of the transaction, the executive vice president directly owned 10,132 shares of the company’s stock, valued at $367,690.28. This trade represents a 84.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 163,828 shares of company stock worth $6,676,449 in the last ninety days. 1.80% of the stock is currently owned by company insiders.
Analysts Set New Price Targets Several equities analysts recently weighed in on VIAV shares. Weiss Ratings lowered shares of Viavi Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 8th. Wall Street Zen downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price target on shares of Viavi Solutions in a report on Wednesday, August 19th. Needham & Company LLC reduced their price objective on shares of Viavi Solutions from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Stifel Nicolaus increased their price objective on shares of Viavi Solutions from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.43.
Get Our Latest Stock Analysis on VIAV
Viavi Solutions Profile (Free Report)
Viavi Solutions Inc (NASDAQ: VIAV) develops test, measurement, and assurance technologies for communications networks and optical systems. Its products and software help telecommunications providers, network equipment manufacturers, data centers, government organizations, and other enterprises build, validate, monitor, and maintain wired and wireless networks.
The company’s offerings include instruments and software for fiber-optic testing, network installation and certification, service activation, network performance monitoring, troubleshooting, and telecommunications equipment testing.
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Viavi Solutions za poslední měsíc klesla o 17,2 %, přestože poslední čtvrtletní zisk i tržby překonaly odhady. Firma zároveň očekává ve 1. čtvrtletí fiskálního roku 2027 tržby 450–460 milionů USD.
It has been about a month since the last earnings report for Viavi Solutions (VIAV - Free Report) . Shares have lost about 17.2% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Viavi Solutions due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Viavi Solutions Inc. before we dive into how investors and analysts have reacted as of late.
VIAV Q4 Earnings Top Estimates on Data Center, A&D Strength
Viavi reported strong fourth-quarter fiscal 2026 results, with earnings and revenues exceeding the Zacks Consensus Estimate. Non-GAAP earnings of 34 cents per share beat the consensus estimate of 30 cents by 13.33%, while revenues of $443.1 million topped the consensus mark of $433 million by 2.34% and increased 52.5% year over year.
The robust performance was driven by sustained demand from the data center ecosystem and aerospace, and defense markets, along with contributions from acquired Spirent product lines. The Network and Service Enablement (NSE) segment remained the primary growth engine, delivering nearly 70% year-over-year revenue growth.
VIAV Delivers Broad-Based Segment Growth
Network and Service Enablement generated revenues of $353.9 million, up 69.2% year over year and above management's guidance range. Growth reflected continued strength in lab, production and field products serving the data center ecosystem, contributions from Spirent product lines and healthy aerospace and defense demand.
Optical Security and Performance Products (OSP) revenues increased 9.6% year over year to $89.2 million, reaching the high end of guidance. Growth was fueled by stronger demand for 3D sensing products as well as anti-counterfeiting and other optical products, demonstrating continued momentum across the company's second operating segment.
Viavi Expands Margins on Favorable Mix
Profitability improved meaningfully during the quarter as higher revenues and a favorable product mix boosted margins. Non-GAAP gross margin expanded to 62.3% from 60.1% a year earlier, while non-GAAP operating margin climbed 960 basis points year over year to 24.0%, exceeding the high end of management's guidance.
Non-GAAP operating income more than doubled year over year to $106.4 million. Earnings benefited from approximately 2 cents per share from lower interest expense following debt reduction and tariff refunds received during the quarter.
VIAV Strengthens Balance Sheet & Cash Flow
Viavi ended the quarter with $656.7 million in total cash, short-term investments and restricted cash. Cash flow from operating activities reached $66.7 million during the quarter, while capital expenditures totaled $11.1 million.
The company strengthened its balance sheet through capital allocation initiatives. During the quarter, it completed a follow-on equity offering that generated approximately $575 million in gross proceeds. The proceeds were primarily used to retire the remaining $450 million balance of its Term Loan B, while the remaining funds enhanced liquidity. The company did not repurchase shares during the quarter as debt reduction remained the priority, although nearly $170 million remains available under its existing authorization.
Viavi Sees Healthy Demand Across End Markets
Management highlighted that demand from the data center ecosystem remains exceptionally strong, supported by investments in AI infrastructure, high-performance computing, optical networking and hyperscale data center deployments. The recently acquired Spirent high-speed Ethernet product lines continued to perform well and contributed meaningfully to quarterly growth.
The aerospace and defense business delivered another quarter of solid growth, particularly for positioning, navigation and timing products, which management expects to remain a multiyear growth driver. Meanwhile, service provider demand improved seasonally, supported by fiber monitoring deployments and cable network upgrades, although wireless demand remained stable at relatively subdued levels.
VIAV Guides for Another Sequentially Strong Quarter
For the first quarter of fiscal 2027, management projects revenues to be between $450 million and $460 million with non-GAAP earnings of 40-42 cents per share. The outlook implies sequential growth, driven by continued strength in both operating segments.
The company expects NSE revenues to be between $360 million and $368 million, supported by continued momentum across data center and aerospace and defense markets, while OSP revenues are projected to be in the range of $90-$92 million on seasonally stronger demand for 3D sensing products. Management forecasts a non-GAAP operating margin of approximately 27.1%, benefiting from tariff refunds despite additional operating costs associated with the extra week in the fiscal quarter.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 47.67% due to these changes.
VGM ScoresCurrently, Viavi Solutions has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. However, the stock has a score of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Viavi Solutions has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
VIAV ve 4. čtvrtletí zvýšila tržby o 52,5 % na 443,1 mil. USD a upravený EPS vyskočil o 161,5 % na 34 centů. Na 1. čtvrtletí očekává tržby 450–460 mil. USD a non-GAAP EPS 40–42 centů.
Key Takeaways VIAV's Q4 revenue rose 52.5% to $443.1M, while adjusted EPS jumped 161.5% to 34 cents.AI data centers now account for roughly half of NSE revenues, with robust growth expected to continue.VIAV guides Q1 revenue to $450M-$460M and non-GAAP EPS to 40-42 cents, both up sequentially. Viavi Solutions Inc. (VIAV - Free Report) wrapped up fiscal 2026 on a strong note, backed by robust demand across the artificial intelligence (AI) data-center ecosystem, aerospace and defense markets and contributions from the acquired Spirent businesses. The company also witnessed substantial margin expansion, highlighting improving operating leverage.
Fiscal fourth-quarter revenues surged 52.5% year over year to $443.1 million and surpassed the Zacks Consensus Estimate of $433 million. Adjusted earnings jumped 161.5% year over year to 34 cents per share, beating the consensus estimate of 30 cents by 13.3%. VIAV surpassed the consensus mark for earnings and revenues in each of the past four quarters.
Management expects the momentum to extend into fiscal 2027. Let us delve a little deeper into the factors that make VIAV an attractive investment proposition following its solid fiscal fourth-quarter performance.
AI Data Center Momentum Remains a Key CatalystViavi's expanding exposure to AI and hyperscale data centers is emerging as one of its most important growth drivers. Network and Service Enablement (NSE) revenues soared 69.2% year over year to $353.9 million in the fiscal fourth quarter, supported by demand for lab, production and field-testing products, aerospace and defense solutions and the acquired Spirent portfolio.
The data-center ecosystem now accounts for roughly half of NSE revenues, reflecting the rapid transformation of VIAV's revenue mix away from its historical dependence on telecom service-provider spending. Management expects robust data-center growth to continue over the next several quarters.
The company has also expanded its AI-networking portfolio through products such as the Ultra Ethernet Transport validation platform and the CyberFlood CF1000 400G security and application-performance testing platform. These solutions enable Viavi to benefit as hyperscalers, cloud operators and networking vendors deploy increasingly complex, high-bandwidth AI infrastructure.
Spirent Integration Strengthens VIAV's Growth ProfileThe acquisition of selected Spirent Communications businesses has significantly expanded Viavi's addressable market and technological capabilities. It has strengthened the company's position in high-speed Ethernet testing, network security, channel emulation and enterprise network validation while creating cross-selling opportunities across its existing customer base.
Spirent's contribution should increase in the near term. Management expects the acquired business to grow roughly 10% sequentially in the September quarter, while December is typically its strongest quarter because of favorable seasonality.
The combination of Viavi's optical and network-testing capabilities with Spirent's Ethernet, cybersecurity and network-validation assets provides a broader platform for addressing the increasingly sophisticated testing requirements associated with AI clusters, cloud networks and next-generation communications infrastructure.
Aerospace & Defense Provides Another Growth EngineViavi's diversification beyond traditional telecom customers is another positive. The aerospace and defense business delivered another quarter of strong year-over-year growth, driven particularly by healthy demand for positioning, navigation and timing (PNT) products.
Management expects PNT to remain a multi-year growth driver for its aerospace and defense operations. This market provides VIAV with exposure to government and defense modernization spending and reduces dependence on more cyclical carrier capital expenditures. The combination of AI data centers and aerospace and defense has materially changed the company's growth profile, providing greater diversification and improving revenue visibility.
Price PerformanceViavi has surged 244.1% in the past year compared with the industry’s growth of 189.1%. It has outperformed peers like Knowles Corporation (KN - Free Report) and Airgain, Inc. (AIRG - Free Report) . While Airgain has gained 25.3%, Knowles soared 59% over this period.
One-Year VIAV Stock Price Performance
Image Source: Zacks Investment Research
Upbeat Q1 Outlook Signals Sustained MomentumManagement's first-quarter fiscal 2027 outlook reinforces the bullish growth narrative. VIAV expects revenues between $450 million and $460 million, above the $443.1 million recorded in the fiscal fourth quarter. Non-GAAP earnings are projected between 40 cents and 42 cents per share, representing another healthy sequential increase from 34 cents in the June quarter.
Management has also become more optimistic about Viavi's longer-term revenue trajectory. Given the current pace of growth, the company believes it could reach quarterly revenues of more than $500 million sometime during calendar 2027, earlier than its previous expectation of achieving that level near the end of fiscal 2028.
Moving ForwardViavi entered fiscal 2027 with considerable momentum. Strong AI data-center spending and the expanding Spirent portfolio should support continued growth in the NSE segment. At the same time, healthy aerospace and defense demand provides another secular growth avenue.
The upbeat first-quarter outlook adds further visibility to the growth story. Investors seeking exposure to the rapidly expanding AI networking and high-speed optical testing ecosystem may consider betting on VIAV for further upside.
Viavi currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
VIAVI Solutions těží z diverzifikovaného portfolia; v nejbližší době mají růst táhnout datová centra a letectví a obrana. Nové testovací schopnosti a akvizice rozšiřují jeho záběr.
Key Takeaways VIAVI Solutions is benefiting from a diverse portfolio that reduces reliance on any single end market.Data center infrastructure and aerospace & defense are expected to be key near-term growth drivers.New testing capabilities and acquisitions are broadening VIAVI Solutions' reach across key applications. VIAVI Solutions (VIAV - Free Report) is benefiting from its comprehensive and diverse product offerings. Its diversified portfolio is ensuring sustained growth by reducing its reliance on any single end market.
VIAVI's Network and Service Enablement (NSE) business is witnessing strong demand for lab, production and field instruments tied to data center buildouts. New PCIe 7.0 analysis and CyberFlood CF1000 capabilities expand Viavi’s ability to validate AI inference workloads, encrypted traffic and next-generation infrastructure. The integration of Spirent’s high-speed Ethernet and network security testing assets continues to broaden Viavi’s addressable market across enterprise and data center applications. The acquisition of Inertial Labs has also boosted its portfolio strength.
Beyond the AI infrastructure space, the company also boasts a strong presence in the aerospace and defense space. Strong demand for positioning, navigation and timing (PNT) products is supporting growth in this domain. The company is also working on expanding into 6G, Wi-Fi, AI-RAN and specialized RF testing to expand its portfolio’s addressable market.
It is to be noted that, in the near term, data center infrastructure and aerospace & defense will be the major growth drivers for the company. However, the company continues to face risks related to product-mix fluctuations and competitive pressures across each of its served markets.
Other Tech Firm with Diverse Portfolio OfferingJabil, Inc.’s (JBL - Free Report) focus on end-market and product diversification remains a key long-term catalyst. Management continues to target a balanced portfolio so that no individual product or product family becomes an outsized contributor to operating income or cash flow. This strategy improves the stability of earnings through industry cycles while allowing Jabil to capture opportunities across AI infrastructure, healthcare, industrial and automation markets. Moreover, Jabil’s organizational structure remains aligned with major end markets, allowing the company to build deeper domain expertise and respond more quickly to customer demand.
Keysight Technologies, Inc. (KEYS - Free Report) is also placing strong emphasis on product diversification. Keysight’s Communication Solutions Group segment is benefiting from healthy growth in both wireline and wireless, AI data center expansion, and rising investments in next-generation wireless (5G/6G and Non Terrestrial Network). Strong AI-related investments, higher demand for wafer and lithography solutions for advanced chip development and growth in software-defined vehicles, cybersecurity and EV charging solutions are driving growth in the Electronic Industrial Solutions Group.
VIAV’s Price Performance, Valuation and EstimatesVIAVI has gained 240.9% in the past year compared with the Electronics - Measuring Instruments industry’s growth of 196.8%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company’s shares currently trade at 24.55 forward earnings, lower than 38.52 for the industry and its mean of 39.43.
Image Source: Zacks Investment Research
The company’s earnings estimates for 2026 and 2027 have improved over the past 60 days.
Image Source: Zacks Investment Research
VIAV sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Viavi Solutions ve fiskálním roce 2026 zvýšila tržby o 40 % na 1,5 miliardy USD a non-GAAP EPS o 112,8 % na 1,00 USD. Akcie za tři měsíce klesly o 18,2 %.
Key Takeaways Viavi Solutions delivered 40% fiscal 2026 revenue growth and a 112.8% rise in non-GAAP EPS.NSE revenue surged 52.3%, driven by data center demand, aerospace and defense, and Spirent products.Weak wireless demand, variable cash flow and share dilution temper the bullish case despite strong growth.
Shares of Viavi Solutions Inc. (VIAV - Free Report) have declined 18.2% in the past three months despite a sharp improvement in the company's operating performance. Fiscal 2026 revenues rose 40% year over year to $1.5 billion, while non-GAAP earnings per share increased 112.8% to $1.00. Fourth-quarter revenue climbed 52.5% to $443.1 million, and earnings rose 161.5% to 34 cents per share.
The disconnect raises a key question for investors: Can accelerating demand and expanding margins support VIAV after its pullback, or will concerns about wireless testing, cash generation and share dilution continue to weigh on the shares?
Image Source: Zacks Investment Research
VIAV's 3-Month Decline Tests the Growth StoryViavi's fiscal 2026 results provide a strong fundamental backdrop despite the recent decline. Fourth-quarter revenues, non-GAAP operating margin and earnings exceeded the high end of management's guidance. Non-GAAP operating margin reached 24%, up 960 basis points year over year, while earnings of 34 cents per share were 13.3% above the Zacks Consensus Estimate.
The improvement extended through the full year. Fiscal 2026 non-GAAP operating income increased 101.6% to $312.9 million, while the non-GAAP operating margin expanded to 20.6% from 14.3% a year earlier. Higher revenue and favorable product mix drove the improvement.
VIAV's recent price performance also needs context. The stock is down 18.2% over the past three months but has gained 290.8% over the past year. Over the same three-month period, the Zacks sub-industry has declined 13.9%, while the Zacks Computer and Technology sector gained 2.6%.
Viavi Solutions Still Benefits From AI InfrastructureData center and AI infrastructure demand remain important growth drivers for Viavi. The company said fiscal 2026 growth was driven mainly by demand for lab, production and field products tied to the data center ecosystem, along with aerospace and defense products. Acquisitions of certain Spirent product lines and Inertial Labs also contributed to growth.
The Network and Service Enablement (NSE) segment has become the company's main growth engine. NSE revenues increased 52.3% in fiscal 2026 to $1.18 billion and accounted for 77.9% of total revenue. Fourth-quarter NSE revenue jumped 69.2% year over year to $353.9 million, driven by demand for lab, production and field products, aerospace and defense products and acquired Spirent product lines.
Viavi is also expanding its testing portfolio for AI infrastructure. Recent product launches include an Ultra Ethernet Transport validation platform and the CyberFlood CF1000, a 400G security and application performance testing platform designed for AI data center infrastructures. These offerings broaden the company's exposure to high-speed networking and AI-related testing requirements.
VIAV's Earnings Momentum Supports the Bull CaseThe pace of NSE growth is central to the bullish case. Fourth-quarter NSE revenues of $353.9 million exceeded the company's $340-$348 million guidance range. NSE gross margin increased 190 basis points year over year to 64.1%, while operating margin reached 20%.
Management expects the momentum to continue into fiscal 2027. Viavi expects first-quarter revenues of $450-$460 million and non-GAAP EPS of 40-42 cents. The company also expects OSP revenue of $90-$92 million and operating margin of 43.2% for the quarter.
The Zacks Consensus Estimate projects fiscal 2027 revenues of $1.874 billion and EPS of $1.22 compared with $1.518 billion and $1, respectively, in fiscal 2026.
Among industry peers, Knowles Corporation (KN - Free Report) carries an Outperform recommendation, while ADTRAN Holdings, Inc. (ADTN - Free Report) has an Underperform recommendation, providing additional context for investors evaluating VIAV's position within the Communication - Components industry.
Viavi Solutions Faces Wireless and Cash Flow RisksThe growth story has several offsets. Management has indicated that wireless test demand remains weak, with no near-term recovery expected. Fiscal fourth-quarter growth was driven primarily by data center, aerospace and defense demand, leaving the traditional wireless market with limited visibility.
Cash generation also warrants attention. Viavi generated $113.9 million in operating cash flow and $82.8 million in free cash flow in fiscal 2026. Fourth-quarter operating cash flow improved to $66.7 million from negative $26.3 million in the prior quarter, but the sharp sequential swing highlights the sensitivity of cash conversion to working capital and other cash requirements.
Capital allocation creates another trade-off. Viavi raised $575 million through a follow-on equity offering in fiscal fourth-quarter 2026 and issued approximately 12.78 million shares at $45 per share. The company used $450 million of the proceeds to repay Term Loan B. While the debt reduction strengthens the balance sheet, the larger share base spreads future earnings across more shares. Basic shares used in fourth-quarter EPS calculations rose 7.2% year over year, while diluted shares increased 15%.
OSP profitability is another variable to monitor. OSP revenue increased 9% in fiscal 2026, but its gross margin declined to 52.2% from 53.2% a year earlier, indicating that product mix can affect profitability even when revenue is growing.
VIAV's Rank Signals Caution Despite GrowthVIAV currently carries a Zacks Rank #3 (Hold) and a Neutral long-term Zacks Recommendation. Its Zacks Style Scores are a Value Score of D, Growth Score of D, Momentum Score of D and VGM Score of F.
The Zacks Rank is designed to reflect trends in earnings estimate revisions over a one- to three-month horizon, while Zacks Style Scores serve as complementary indicators covering value, growth and momentum characteristics. The VGM Score combines the three individual Style Scores.
For a Zacks Rank #3 stock, the Style Score hierarchy still matters. The Style Score framework favors higher grades, with A and B scores offering the most favorable profile. VIAV's D scores and F VGM Score therefore temper the bullish fundamental case. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
VIAV's three-month decline does not by itself establish a buying opportunity. Fiscal 2026 results show accelerating revenue, strong NSE growth and expanding margins, while fiscal 2027 guidance points to further earnings growth. However, weak wireless demand, variable cash generation, share dilution and the stock's Zacks Rank #3 argue for a measured view as investors weigh the improving fundamentals against the risks.
Viavi Solutions očekává ve fiskálním roce 2027 tržby ve výši 1,874 miliardy USD, což představuje meziroční růst o 23,5 %. Ocenění akcií je ale nad pětiletým mediánem.
Key Takeaways Viavi Solutions expects fiscal 2027 revenue to rise 23.5% to $1.874 billion.NSE revenue jumped 52.3% in fiscal 2026, with margins expanding sharply on higher volume and mix.VIAV trades above its five-year median multiple, limiting the upside case if growth or margins slow. Viavi Solutions Inc. (VIAV - Free Report) enters fiscal 2027 with a sharp improvement in revenue, earnings and operating margins. Fiscal 2026 revenues rose 40% year over year to $1.5 billion, while earnings increased 112.8% to $1 per share. The Zacks Consensus Estimate calls for fiscal 2027 revenues of $1.874 billion, implying 23.5% growth, while earnings are projected to rise to $1.22 per share.
The growth outlook is supported by data center and AI infrastructure demand, broader testing capabilities and the integration of Spirent assets. However, VIAV's valuation remains above its five-year median, while its Zacks Rank and Style Scores point to a less favorable quantitative setup.
VIAV's Growth Profile Is AcceleratingViavi's fiscal 2026 results show a meaningful change in the company's growth profile. Revenues reached $1.518 billion, up 40% from fiscal 2025, with Network and Service Enablement (NSE) revenues rising 52.3% to $1.183 billion. NSE accounted for 77.9% of total fiscal 2026 revenues.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate projects fiscal 2027 revenues of $1.874 billion, up 23.5% from fiscal 2026. The consensus EPS estimate is $1.22, compared with $1.00 in fiscal 2026. Estimates for fiscal 2028 call for revenues of $2.082 billion and EPS of $1.50, indicating that analysts expect the growth trajectory to extend beyond the current fiscal year.
The near-term outlook is also supported by management's fiscal first-quarter 2027 guidance. Viavi expects revenues of $450-$460 million and non-GAAP EPS of 40-42 cents. Management expects NSE revenues of $360-$368 million, compared with $353.9 million in the fiscal fourth quarter.
Viavi Solutions Shows Strong Earnings MomentumThe fiscal fourth quarter provided further evidence of operating leverage. Viavi reported revenues of $443.1 million, up 52.5% year over year, while non-GAAP EPS of 34 cents exceeded the Zacks Consensus Estimate of 30 cents by 13.3%. Revenue also topped the consensus mark by 2.3%.
Non-GAAP operating margin expanded to 24.0% from 14.4% a year earlier, a 960-basis-point improvement. Non-GAAP operating income more than doubled to $106.4 million. Higher revenues, increased volume and favorable product mix helped improve profitability.
NSE provided much of the operating leverage. Fourth-quarter NSE revenue increased 69.2% year over year to $353.9 million, while its gross margin rose 190 basis points to 64.1%. NSE operating margin reached 20%, up 1,540 basis points year over year.
VIAV's Valuation Limits the Upside CaseThe earnings outlook is improving, but the stock already reflects part of that growth. VIAV trades at 34.4X forward 12-month earnings, above its five-year median of 27.5X. The shares have traded between 12.3X and 65.9X over the past five years, placing the current multiple above the historical midpoint.
Image Source: Zacks Investment Research
The valuation premium becomes more relevant when compared with broader benchmarks. VIAV's forward earnings multiple is below the 40.2X average for the Zacks sub-industry but above the 21.5X sector multiple and 20.7X multiple for the S&P 500.
Among its industry peers, VIAV's quantitative profile is mixed. Knowles Corporation (KN - Free Report) carries a Zacks Rank #2 (Buy) and an Outperform recommendation, while ADTRAN Holdings (ADTN - Free Report) carries a Zacks Rank #4 (Sell) and an Underperform recommendation. VIAV's Zacks Rank #3 (Hold) therefore places it between these two peers on the Zacks short-term ranking scale. The comparison highlights that the industry's growth opportunities do not translate into equally favorable quantitative setups across individual stocks.
The valuation data also show a price-to-book multiple of about 7.0X. That leaves less room for execution setbacks if revenue growth or margin expansion slows. The Zacks price target of $47 reflects 8.9X forward 12-month earnings, substantially below the stock's current forward multiple.
Viavi Solutions Gains From Spirent IntegrationThe integration of acquired Spirent product lines has broadened Viavi's testing portfolio. The company cited contributions from certain Spirent product lines as one of the drivers of fourth-quarter NSE growth, alongside demand from the data center ecosystem and aerospace and defense markets.
The acquired high-speed Ethernet and network security testing assets also expand Viavi's addressable market across enterprise and data center applications. New offerings, including Observer Threat Forensics and the CyberFlood product family, extend the portfolio into network validation, security testing and performance assurance.
The opportunity is tied closely to rising network complexity. Viavi has added capabilities such as PCIe 7.0 analysis, the CyberFlood CF1000 and its Ultra Ethernet Transport validation platform to address AI infrastructure, encrypted traffic and next-generation networking requirements. These products expand the company's potential market, although the financial contribution from newer offerings and acquired assets will depend on customer adoption and execution.
VIAV's Rank and Style Scores Favor a Cautious ViewVIAV currently carries a Zacks Rank #3 (Hold). Its Zacks Style Scores include a Value Score of D, Growth Score of D, Momentum Score of D and VGM Score of F. The stock also has a Neutral Zacks Recommendation for the six- to 12-month horizon.
The Zacks Rank focuses on earnings estimate revision trends over the one- to three-month horizon, while the Zacks Style Scores provide complementary measures of value, growth and momentum. The VGM Score combines the weighted individual Style Scores.
The peer comparison further reinforces the cautious view. KN's Zacks Rank #2 (Buy) and Outperform recommendation contrast with ADTN's Zacks Rank #4 and Underperform recommendation, while VIAV sits in the middle with a Hold ranking. This suggests investors should evaluate VIAV not only on its strong operating growth but also on how its valuation and quantitative characteristics compare with other communication-components stocks.
The weak Style Scores are notable because the framework favors higher grades, with A and B scores providing the more favorable profiles. For a Zacks Rank #3 stock, the D scores and F VGM Score suggest that the company's improving fundamentals have not translated into an across-the-board favorable quantitative setup.
VIAV therefore presents a growth-versus-valuation decision rather than a straightforward buy case. Revenue and EPS are expected to grow at a healthy pace, margins are expanding and Spirent-related capabilities broaden the company's exposure to data center and cybersecurity testing. At the same time, the forward valuation sits above its five-year median, while the Zacks Rank #3 and weak Style Scores argue for waiting for a more favorable valuation or clearer improvement in the stock's quantitative profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Viavi Solutions ve 4. čtvrtletí zvýšila tržby o 52,5 % na 443,1 mil. USD díky poptávce po AI infrastruktuře a datových centrech. Non-GAAP provozní marže vzrostla na 24,0 % z 14,4 %.
Key Takeaways Viavi Solutions' Q4 revenues jumped 52.5% as AI, data centers, aerospace and defense drove demand.VIAV expects fiscal Q1 2027 revenues of $450-$460 million and non-GAAP EPS of 40-42 cents.Margins expanded sharply, while new AI testing platforms broaden Viavi's network validation capabilities. Viavi Solutions Inc. (VIAV - Free Report) is benefiting from rising AI infrastructure investment as demand for data center networking, testing and cybersecurity solutions drives growth. Fourth-quarter fiscal 2026 revenues rose 52.5% year over year to $443.1 million, while non-GAAP EPS reached 34 cents. Data center demand, aerospace and defense activity and contributions from acquired Spirent product lines supported the results.
VIAV's Q4 Results Confirm Strong AI ExposureNetwork and Service Enablement (NSE) revenues increased 69.2% year over year to $353.9 million. Growth was driven by demand for products serving the data center ecosystem, aerospace and defense demand and contributions from Spirent product lines. Management continues to cite AI infrastructure, high-performance computing, optical networking and hyperscale data centers as key demand drivers.
Viavi Solutions Guides for Another Strong QuarterViavi expects first-quarter fiscal 2027 revenues of $450-$460 million and non-GAAP EPS of 40-42 cents. NSE revenue is projected at $360-$368 million, while OSP revenue is expected at $90-$92 million.
The Zacks Consensus Estimate calls for fiscal 2027 revenues of $1.874 billion, up 23.5% from fiscal 2026, with EPS expected to rise to $1.22 from $1.
VIAV's Margins Expand on Scale and MixFourth-quarter non-GAAP operating margin increased to 24.0% from 14.4% a year earlier, a 960-basis-point expansion. NSE operating margin reached 20.0%, up 1,540 basis points year over year.
Management expects consolidated non-GAAP operating margin of 27.1% in first-quarter fiscal 2027, including a 100-basis-point benefit from tariff refunds.
Viavi Solutions Adds New AI Testing CapabilitiesViavi launched its Ultra Ethernet Transport validation platform in June 2026 to support next-generation AI networks. In May, it introduced the CyberFlood CF1000, a 400G security and application performance testing platform designed for AI data center infrastructure.
The launches expand Viavi's capabilities in AI network validation, encrypted traffic testing and cybersecurity while complementing the acquired Spirent portfolio. Their contribution will depend on customer adoption and execution.
VIAV's Rank Supports a Balanced Event ViewVIAV carries a Zacks Rank #3 (Hold), with a Value Score of D, Growth Score of D, Momentum Score of D and VGM Score of F. The Zacks Style Scores complement the Zacks Rank by evaluating value, growth and momentum characteristics.
Viavi's AI exposure and margin expansion support the growth case, although its Zacks Rank #3 and weak Style Scores warrant caution. Within the same industry, Knowles Corporation (KN - Free Report) has an Outperform recommendation, while ADTRAN Holdings, Inc. (ADTN - Free Report) carries an Underperform recommendation, offering some context on the differing outlooks across peers.
Viavi's AI exposure and margin expansion support the growth case, but the Zacks Rank #3 and weak Style Scores provide a cautionary counterweight to the strong quarterly results. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Viavi Solutions Inc. (VIAV) Q4 2026 Earnings Call August 5, 2026 4:30 PM EDT
Company Participants
Vibhuti Nayar - Director of Investor Relations
Ilan Daskal - Executive VP & CFO
Oleg Khaykin - President, CEO & Director
Conference Call Participants
Ryan Koontz - Needham & Company, LLC, Research Division
Ruben Roy - Stifel, Nicolaus & Company, Incorporated, Research Division
Andrew Spinola - UBS Investment Bank, Research Division
Michael Genovese - Rosenblatt Securities Inc., Research Division
Timothy Savageaux - Northland Capital Markets, Research Division
Presentation
Operator
Good afternoon. My name is Kendra, and I will be your conference operator today. At this time, I would like to welcome everyone to Viavi Solutions Fiscal Fourth Quarter and Fiscal 2026 Earnings Call. Today's conference is being recorded. [Operator Instructions] At this time, I would like to turn the conference over to Vibhuti Nayar, Head of Investor Relations. Please go ahead.
Vibhuti Nayar
Director of Investor Relations
Thank you, Kendra. Good afternoon, everyone, and welcome to Viavi Solutions Fourth Quarter and Fiscal 2026 Earnings Call. My name is Vibhuti Nayar, Head of Investor Relations for Viavi Solutions. With me on today's call is Oleg Khaykin, our President and CEO; and Ilan Daskal, our CFO.
Please note, this call will include forward-looking statements about the company's financial performance. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our current expectations and estimations. We encourage you to review our most recent annual report and SEC filings, particularly the risk factors described in those filings. The forward-looking statements, including the guidance that we provide during this call and our expectations regarding the end markets and acquired business, are valid only as of today. Viavi undertakes no obligation to update these statements.
Please also note that unless we state otherwise, all results discussed on this
VIAVI ve 4. fiskálním čtvrtletí zvýšila tržby na 443,1 mil. USD a čistý zisk na 32,7 mil. USD. Na první čtvrtletí fiskálního roku 2027 čeká tržby 450–460 mil. USD a non-GAAP EPS 0,40–0,42 USD.
, /PRNewswire/ -- VIAVI (NASDAQ: VIAV) today reported results for its fiscal fourth quarter and fiscal year ended June 27, 2026 with the following highlights.
Fourth Quarter
Net revenue of $443.1 million, up $152.6 million or 52.5% year-over-year GAAP operating margin of 13.8%, up 850 bps year-over-year Non-GAAP operating margin of 24.0%, up 960 bps year-over-year GAAP net income of $32.7 million, up $24.7 million or 308.8% year-over-year Non-GAAP net income of $89.1 million, up $59.4 million or 200.0% year-over-year GAAP diluted earnings per share (EPS) of $0.13, up $0.09 or 225.0% year-over-year Non-GAAP diluted EPS of $0.34, up $0.21 or 161.5% year-over-year Fiscal Year 2026
Net revenue of $1.5 billion, up $434.0 million or 40.0% year-over-year GAAP operating margin of 6.9%, up 160 bps year-over-year Non-GAAP operating margin of 20.6%, up 630 bps year-over-year GAAP net loss of $30.4 million, down $65.2 million or 187.4% year-over-year Non-GAAP net income of $243.8 million, up 137.1 or 128.5% year-over-year GAAP diluted EPS of $(0.13), down $0.28 or 186.7% year-over-year Non-GAAP diluted EPS of $1.00, up $0.53 or 112.8% year-over-year "VIAVI's fourth quarter and fiscal year 2026 financial performance has exceeded our expectations, driven by strong growth in many of our end markets. Our diversification strategy into datacenter ecosystem and aerospace and defense end markets has been a key growth driver for us during FY26, and we expect this strategy to continue driving our growth for the next several quarters," said Oleg Khaykin, VIAVI's President and Chief Executive Officer.
Financial Overview:
The tables below (in millions, except percentage and per share data) provide comparisons of quarterly results to prior periods, including sequential quarterly and year-over-year changes. A full reconciliation between the GAAP and non-GAAP measures included in the tables is contained in this release under the section titled "Use of Non-GAAP (Adjusted) Financial Measures."
Fiscal Fourth Quarter Ended June 27, 2026
GAAP Results
Q4
Q3
Q4
Change
FY 2026
FY 2026
FY 2025
Q/Q
Y/Y
Net revenue
$ 443.1
$ 406.8
$ 290.5
8.9 %
52.5 %
Gross margin
59.1 %
57.5 %
56.3 %
160 bps
280 bps
Operating margin
13.8 %
6.1 %
5.3 %
770 bps
850 bps
Income from operations
$ 61.3
$ 24.8
$ 15.3
147.2 %
300.7 %
Net income per share
0.13
0.03
0.04
333.3 %
225.0 %
Non-GAAP Results
Q4
Q3
Q4
Change
FY 2026
FY 2026
FY 2025
Q/Q
Y/Y
Gross margin
62.3 %
62.2 %
60.1 %
10 bps
220 bps
Operating margin
24.0 %
21.2 %
14.4 %
280 bps
960 bps
Income from operations
$ 106.4
$ 86.4
$ 41.9
23.1 %
153.9 %
Earnings per share
0.34
0.27
0.13
25.9 %
161.5 %
Net Revenue by Segment
Q4
Q3
Q4
Change
FY 2026
FY 2026
FY 2025
Q/Q
Y/Y
Network and Service Enablement
$ 353.9
$ 321.5
$ 209.1
10.1 %
69.2 %
Optical Security and Performance Products
89.2
85.3
81.4
4.6 %
9.6 %
Total
$ 443.1
$ 406.8
$ 290.5
8.9 %
52.5 %
Fiscal Year Ended June 27, 2026
GAAP Results
FY 2026
FY 2025
Change Y/Y
Net revenue
$ 1,518.3
$ 1,084.3
40.0 %
Gross margin
57.7 %
57.3 %
40 bps
Operating margin
6.9 %
5.3 %
160 bps
Income from operations
$ 105.1
$ 57.5
82.8 %
Net (loss) income per share
(0.13)
0.15
(186.7) %
Non-GAAP Results
FY 2026
FY 2025
Change Y/Y
Gross margin
61.7 %
60.1 %
160 bps
Operating margin
20.6 %
14.3 %
630 bps
Income from operations
$ 312.9
$ 155.2
101.6 %
Earnings per share
1.00
0.47
112.8 %
Net Revenue by Segment
FY 2026
FY 2025
Change Y/Y
Network and Service Enablement
$ 1,182.9
$ 776.6
52.3 %
Optical Security and Performance Products
335.4
307.7
9.0 %
Total
$ 1,518.3
$ 1,084.3
40.0 %
Americas, Asia-Pacific and EMEA customers represented 45.0%, 30.9% and 24.1%, respectively, of total net revenue for the fiscal year ended June 27, 2026. As of June 27, 2026, the Company held $656.7 million in total cash, short-term investments and short-term restricted cash. As of June 27, 2026, the Company had $250.0 million aggregate principal amount of 0.625% Senior Convertible Notes and $400.0 million aggregate principal amount of 3.75% Senior Notes with a total net carrying value of $641.9 million. During the fiscal quarter and fiscal year ended June 27, 2026, the Company generated $66.7 million and $113.9 million, respectively, of cash flows from operations. Business Outlook for the First Quarter of Fiscal 2027
For the first quarter of fiscal 2027 ending October 3, 2026, the Company expects net revenue to be between $450 million to $460 million and non-GAAP EPS to be between $0.40 to $0.42.
With respect to our expectations above, the Company has not reconciled GAAP net income (loss) per share to non-GAAP EPS in this press release because it is unable to provide a meaningful or accurate estimate of certain reconciling items described in the "Use of Non-GAAP (Adjusted) Financial Measures" section below and the information is not available without unreasonable effort as a result of the inherent difficulty of forecasting the timing and/or amounts of certain items, including certain charges related to restructuring, acquisition, integration and related charges. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on our future GAAP financial results. In addition, the Company believes such reconciliations would imply a degree of precision that may be confusing or misleading to investors.
Conference Call
The Company will discuss these results and other related matters at 1:30 p.m. Pacific Time on August 5, 2026 in a live webcast, which will also be archived for replay on the Company's website at https://investor.viavisolutions.com. The Company will post supplementary slides outlining the Company's latest financial results on https://investor.viavisolutions.com under the "Quarterly Results" section concurrently with this earnings press release. This press release is being furnished as a Current Report on Form 8-K with the Securities and Exchange Commission, and will be available at www.sec.gov.
About VIAVI Solutions
VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test and measurement, and resilient position, navigation and timing solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.
Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include any expectation, anticipation or guidance as to future financial performance, including future revenue, gross margin, operating expense, operating margin, profitability targets, cash flow and other financial metrics, as well as the impact and duration of certain trends and market position and conditions, including market stabilization and recovery. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. In particular, the Company's ability to predict future financial performance continues to be difficult due to, among other things: (a) continuing general limited visibility across many of our product lines; (b) quarter-over-quarter product mix fluctuations, which can materially impact profitability measures due to the broad gross margin ranges across our portfolio; (c) consolidations in our industry and customer base; (d) competitive pressures; (e) unforeseen changes or deceleration in the demand for current and new products, technologies, services, delays or unforeseen events in the roll-out of new industry platforms or evolving technology such as 3D sensing and customer purchasing delays due to macroeconomic conditions, tightening of expenditures or as they assess or transition to such new technologies and/or architectures, all of which limit near-term demand visibility, and could negatively impact potential revenue; (f) continued decline of average selling prices across our businesses; (g) notable seasonality and a significant level of in-quarter book-and-ship business; (h) various product and manufacturing transfers, site consolidations, product discontinuances and restructuring and workforce reduction plans, including the number of employees impacted by a restructuring plan, the estimated expenses the Company will recognize, the timing of these payments and expenses, and anticipated cost savings associated with such plans; (i) challenges in execution of business strategy; (j) financial projections and expectations, including profitability of certain business units, synergies, benefits and other matters related to the acquisition of the high-speed ethernet, network security and channel emulation testing business of Spirent Communications plc; (k) challenges integrating the businesses the Company has acquired and realizing all of the expected benefits and savings; (l) supply chain and materials constraints and the ability of our suppliers and contract manufacturers to meet production and delivery requirements to our forecasted demand; (m) potential disruptions or delays to our manufacturing and operations due to climate conditions and natural disasters in the regions where we operate, such as wildfires, drought conditions and related water shortages in Arizona, as well as wildfires in Northern California and related blackouts and power outages in that region; (n) the uncertain and ongoing impact to our supply chain of geopolitical tensions, such as the ongoing conflict between Russia and Ukraine and the instability in the Middle East, evolving global trade and tariff negotiations and the uncertain tariff landscape, sanctions and other trade measures imposed by domestic and foreign governments, adverse actions and escalating tensions with foreign governments, including China, and the possibility of escalation of "trade wars," cyber-attacks, and retaliatory measures; (o) the impact of infectious disease outbreaks, epidemics, and pandemics on our financial results, revenues, customer demand, business operations and manufacturing and on the business operations of our customers, contract manufacturers and suppliers; and (p) inherent uncertainty related to global markets, including inflationary pressures, recessions, stock price and equity market volatility, tightening monetary policy and liquidity, and the effect of such markets on demand for our products. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. For more information on the risks and uncertainties associated with the Company's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of the Company's filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. The forward-looking statements contained in this press release are made as of the date thereof and the Company assumes no obligation to update such statements. We have not filed our Form 10-K for the year ended June 27, 2026. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates, that are identified prior to the time we file the Form 10-K.
Press:
Amit Malhotra
202-341-8624
[email protected]
The following financial tables are presented in accordance with GAAP, unless otherwise specified.
-SELECTED PRELIMINARY FINANCIAL DATA -
VIAVI SOLUTIONS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
(unaudited)
PRELIMINARY
Three Months Ended
Years Ended
June 27, 2026
June 28, 2025
June 27, 2026
June 28, 2025
Net revenue
$ 443.1
$ 290.5
$ 1,518.3
$ 1,084.3
Cost of revenues
168.4
120.2
597.5
443.7
Amortization of acquired technologies
13.0
6.8
45.4
19.5
Gross profit
261.7
163.5
875.4
621.1
Operating expenses:
Research and development
69.8
57.2
262.7
208.7
Selling, general and administrative
124.3
89.7
469.2
349.4
Amortization of other intangibles
7.3
1.5
22.5
4.8
Restructuring and related (benefits) charges
(1.0)
(0.2)
15.9
0.7
Total operating expenses
200.4
148.2
770.3
563.6
Income from operations
61.3
15.3
105.1
57.5
Interest and other (expense) income, net
(7.4)
1.8
(41.4)
11.1
Interest expense
(10.4)
(7.5)
(47.4)
(30.0)
Income before income taxes and equity investment earnings
43.5
9.6
16.3
38.6
Provision for income taxes
11.4
2.2
47.5
4.4
Equity investment earnings
0.6
0.6
0.8
0.6
Net income (loss)
$ 32.7
$ 8.0
$ (30.4)
$ 34.8
Net income (loss) per share:
Basic
$ 0.14
$ 0.04
$ (0.13)
$ 0.16
Diluted
$ 0.13
$ 0.04
$ (0.13)
$ 0.15
Shares used in per share calculations:
Basic
239.3
223.2
229.5
222.5
Diluted
261.0
227.0
229.5
225.7
The preliminary financial statements are estimated based on our current information.
VIAVI SOLUTIONS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, unaudited)
PRELIMINARY
June 27, 2026
June 28, 2025
ASSETS
Current assets:
Cash and cash equivalents
$ 647.8
$ 423.6
Short-term investments
2.0
1.7
Restricted cash
6.9
3.7
Accounts receivable, net
351.3
261.0
Inventories, net
155.3
117.9
Prepayments and other current assets
93.2
77.3
Total current assets
1,256.5
885.2
Property, plant and equipment, net
224.5
231.9
Goodwill, net
700.7
595.7
Intangibles, net
377.6
131.6
Deferred income taxes
74.5
87.2
Other non-current assets
71.8
62.2
Total assets
$ 2,705.6
$ 1,993.8
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$ 92.2
$ 68.8
Accrued payroll and related expenses
98.4
63.6
Deferred revenue
101.9
74.1
Accrued expenses
27.3
28.7
Short-term debt
244.8
246.2
Other current liabilities
115.9
108.3
Total current liabilities
680.5
589.7
Long-term debt
397.1
396.3
Other non-current liabilities
179.5
227.6
Total liabilities
1,257.1
1,213.6
Total stockholders' equity
1,448.5
780.2
Total liabilities and stockholders' equity
$ 2,705.6
$ 1,993.8
The preliminary financial statements are estimated based on our current information.
VIAVI SOLUTIONS INC.
REPORTABLE SEGMENT INFORMATION
(in millions, unaudited)
PRELIMINARY
Three Months Ended June 27, 2026
Network and
Service
Enablement
Optical Security
and Performance
Products
Other Items (1)
Consolidated
GAAP Measures
Net revenue
$ 353.9
$ 89.2
$ —
$ 443.1
Gross profit
$ 227.0
$ 49.2
$ (14.5)
$ 261.7
Gross margin
64.1 %
55.2 %
59.1 %
Operating income
$ 70.7
$ 35.7
$ (45.1)
$ 61.3
Operating margin
20.0 %
40.0 %
13.8 %
Three Months Ended June 28, 2025
Network and
Service
Enablement
Optical Security
and Performance
Products
Other Items (1)
Consolidated
GAAP Measures
Net revenue
$ 209.1
$ 81.4
$ —
$ 290.5
Gross profit
$ 130.0
$ 44.5
$ (11.0)
$ 163.5
Gross margin
62.2 %
54.7 %
56.3 %
Operating income
$ 9.7
$ 32.2
$ (26.6)
$ 15.3
Operating margin
4.6 %
39.6 %
5.3 %
Year Ended June 27, 2026
Network and
Service
Enablement
Optical Security
and Performance
Products
Other Items (1)
Consolidated
GAAP Measures
Net revenue
$ 1,182.9
$ 335.4
$ —
$ 1,518.3
Gross profit
$ 762.0
$ 175.2
$ (61.8)
$ 875.4
Gross margin
64.4 %
52.2 %
57.7 %
Operating income
$ 190.0
$ 122.9
$ (207.8)
$ 105.1
Operating margin
16.1 %
36.6 %
6.9 %
Year Ended June 28, 2025
Network and
Service
Enablement
Optical Security
and Performance
Products
Other Items (1)
Consolidated
GAAP Measures
Net revenue
$ 776.6
$ 307.7
$ —
$ 1,084.3
Gross profit
$ 488.0
$ 163.6
$ (30.5)
$ 621.1
Gross margin
62.8 %
53.2 %
57.3 %
Operating income
$ 42.6
$ 112.6
$ (97.7)
$ 57.5
Operating margin
5.5 %
36.6 %
5.3 %
(1)
See Reconciliation of GAAP Measures from Continuing Operations to Non-GAAP Measures below for details of Other Items.
The preliminary financial schedules are estimated based on our current information.
Use of Non-GAAP (Adjusted) Financial Measures
The Company provides non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP EPS financial measures as supplemental information regarding the Company's operational performance and believes providing this additional information allows investors to see Company results through the eyes of management, to evaluate more clearly and consistently the Company's core operational performance and expenses and evaluate the efficacy of the methodology used by management to measure such performance. The Company uses the measures disclosed in this release to evaluate the Company's historical and prospective financial performance, as well as its performance relative to its competitors. Specifically, management uses these items to further its own understanding of the Company's core operating performance, which the Company believes represents its performance in the ordinary, ongoing and customary course of its operations. Accordingly, management excludes from core operating performance items such as those relating to certain purchase price accounting adjustments, amortization of acquisition related intangibles, amortization expense related to acquisition related inventory step-up, stock-based compensation, legal settlements, restructuring, changes in fair value of contingent consideration liabilities, certain investing and acquisition related expenses and other activities and income tax expenses or benefits that management believes are not reflective of such ordinary, ongoing and core operating activities. The non-GAAP adjustments are outlined below.
Cost of revenues, costs of research and development and costs of selling, general and administrative: The Company's GAAP presentation of gross margin and operating expenses may include (i) additional depreciation and amortization from changes in estimated useful life and the write-down of certain property, plant and equipment and intangibles, (ii) charges such as severance, benefits and outplacement costs related to restructuring plans with a specific and defined term, (iii) costs for facilities not required for ongoing operations, and costs related to the relocation of certain equipment from these facilities and/or contract manufacturer facilities, (iv) stock-based compensation, including related employer payroll taxes, (v) amortization expense related to acquired intangibles, (vi) amortization expense related to acquisition related inventory step-up, (vii) changes in fair value of contingent consideration liabilities, (viii) acquisition related transaction and integration costs related to acquired entities, (ix) significant legal settlements and other contingencies and (x) other charges unrelated to our core operating performance comprised mainly of other costs and contingencies unrelated to current and future operations, including transformational initiatives such as the implementation of simplified automated processes, site consolidations, and reorganizations. The Company excludes these items in calculating non-GAAP operating margin, non-GAAP net income and non-GAAP EPS.
Non-cash interest expense and other expense: The Company excludes certain non-cash interest and other expenses, including loss on debt extinguishment, accretion of debt discount, and other non-cash activities that management believes are not reflective of such ordinary, ongoing and core operating activities, when calculating non-GAAP net income and non-GAAP EPS.
Income tax expense or benefit: The Company excludes certain non-cash tax expense or benefit items, such as (i) the utilization of net operating losses (NOLs) where valuation allowances were released, (ii) intra-period tax allocation benefit and (iii) the tax effect for amortization of non-tax deductible intangible assets, in calculating non-GAAP net income and non-GAAP EPS.
Non-GAAP financial measures are not in accordance with, preferable to, or an alternative for, generally accepted accounting principles in the United States. The GAAP measure most directly comparable to non-GAAP operating income is operating income. The GAAP measure most directly comparable to non-GAAP operating margin is operating margin. The GAAP measure most directly comparable to non-GAAP net income is net income. The GAAP measure most directly comparable to non-GAAP EPS is earnings per share.
VIAVI SOLUTIONS INC.
RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS
TO NON-GAAP MEASURES
(in millions, except per share data)
(unaudited)
PRELIMINARY
The following tables reconcile GAAP measures to non-GAAP measures:
Three Months Ended
Years Ended
June 27, 2026
June 28, 2025
June 27, 2026
June 28, 2025
Gross
Profit
Gross
Margin
Gross
Profit
Gross
Margin
Gross
Profit
Gross
Margin
Gross
Profit
Gross
Margin
GAAP measures
$ 261.7
59.1 %
$ 163.5
56.3 %
$ 875.4
57.7 %
$ 621.1
57.3 %
Stock-based compensation
1.2
0.2 %
1.2
0.4 %
4.4
0.3 %
5.7
0.5 %
Employer payroll tax on employee share-based awards
—
— %
—
— %
0.4
— %
0.2
— %
Other charges unrelated to core operating performance (1)
0.3
0.1 %
0.4
0.1 %
5.5
0.3 %
0.8
0.1 %
Amortization of acquisition related inventory step-up
—
— %
2.6
0.9 %
6.1
0.4 %
4.3
0.4 %
Amortization of intangibles
13.0
2.9 %
6.8
2.4 %
45.4
3.0 %
19.5
1.8 %
Total related to Cost of Revenues
14.5
3.2 %
11.0
3.8 %
61.8
4.0 %
30.5
2.8 %
Non-GAAP measures
$ 276.2
62.3 %
$ 174.5
60.1 %
$ 937.2
61.7 %
$ 651.6
60.1 %
Three Months Ended
Years Ended
June 27, 2026
June 28, 2025
June 27, 2026
June 28, 2025
Operating Income
Operating Margin
Operating Income
Operating Margin
Operating Income
Operating Margin
Operating Income
Operating Margin
GAAP measures
$ 61.3
13.8 %
$ 15.3
5.3 %
$ 105.1
6.9 %
$ 57.5
5.3 %
Stock-based compensation
14.2
3.2 %
12.6
4.3 %
55.4
3.6 %
53.1
4.9 %
Employer payroll tax on employee share-based awards
0.2
— %
—
— %
2.7
0.2 %
1.3
0.1 %
Change in fair value of contingent consideration
8.7
2.0 %
(3.4)
(1.2) %
33.0
2.2 %
(8.3)
(0.8) %
Acquisition and integration related charges
0.2
— %
5.6
1.9 %
12.6
0.8 %
22.3
2.1 %
Other charges unrelated to core operating performance (2)
2.5
0.6 %
1.1
0.4 %
14.2
1.0 %
1.3
0.1 %
Amortization of acquisition related inventory step-up
—
— %
2.6
0.9 %
6.1
0.4 %
4.3
0.4 %
Amortization of intangibles
20.3
4.6 %
8.3
2.9 %
67.9
4.5 %
24.3
2.2 %
Restructuring and related (benefits) charges
(1.0)
(0.2) %
(0.2)
(0.1) %
15.9
1.0 %
0.7
0.1 %
Litigation settlement
—
— %
—
— %
—
— %
(1.3)
(0.1) %
Total related to Cost of Revenues and Operating Expenses
45.1
10.2 %
26.6
9.1 %
207.8
13.7 %
97.7
9.0 %
Non-GAAP measures
$ 106.4
24.0 %
$ 41.9
14.4 %
$ 312.9
20.6 %
$ 155.2
14.3 %
Three Months Ended
Years Ended
June 27, 2026
June 28, 2025
June 27, 2026
June 28, 2025
Net
Income
Diluted
EPS
Net
Income
Diluted
EPS
Net (Loss) Income
Diluted
EPS
Net Income
Diluted
EPS
GAAP measures
$ 32.7
$ 0.13
$ 8.0
$ 0.04
$ (30.4)
$ (0.13)
$ 34.8
$ 0.15
Items reconciling GAAP Net Income (Loss) and EPS to Non-GAAP Net Income and EPS:
Stock-based compensation
14.2
0.05
12.6
0.05
55.4
0.23
53.1
0.23
Employer payroll tax on employee share-based awards
0.2
—
—
2.7
0.01
1.3
0.01
Change in fair value of contingent consideration
8.7
0.03
(3.4)
(0.01)
33.0
0.14
(8.3)
(0.03)
Acquisition and integration related charges
0.2
—
5.6
0.02
12.6
0.05
22.3
0.10
Other charges unrelated to core operating performance (2)
2.5
0.01
1.1
—
14.2
0.06
1.3
0.01
Amortization of acquisition related inventory step-up
—
—
2.6
0.01
6.1
0.02
4.3
0.02
Amortization of intangibles
20.3
0.08
8.3
0.04
67.9
0.28
24.3
0.11
Restructuring and related (benefits) charges
(1.0)
—
(0.2)
—
15.9
0.07
0.7
—
Litigation settlement
—
—
—
—
—
—
(1.3)
(0.01)
Non-cash interest expense and other expense (3)
10.4
0.04
1.2
0.01
57.0
0.23
4.7
0.02
Provision for (benefits from) income taxes
0.9
—
(6.1)
(0.03)
9.4
0.04
(30.5)
(0.14)
Total related to Net Income and EPS
56.4
0.21
21.7
0.09
274.2
1.13
71.9
0.32
Non-GAAP measures
$ 89.1
$ 0.34
$ 29.7
$ 0.13
$ 243.8
$ 1.00
$ 106.7
$ 0.47
Shares used in per share calculation for Non-GAAP EPS
261.0
227.0
242.9
225.7
Note: Certain totals may not add due to rounding.
(1)
Included in the three months ended and year ended June 27, 2026 are charges of $0.1 million and $3.7 million, respectively, related to the write off of property, plant and equipment and other charges unrelated to core operating performance.
(2)
Included in the three months ended June 27, 2026 are charges of $1.3 million related to the write off of property, plant and equipment, $0.1 million of accelerated depreciation and other charges unrelated to core operating performance. In addition, included in the year ended June 27, 2026 are $4.8 million of losses on disposal of long-lived assets, $2.1 million charge for restoration services for a VIAVI facility impacted by a fire, $0.4 million of accelerated depreciation and other charges unrelated to core operating performance. Included in the year ended June 27, 2025 is a gain of $0.9 million on the sale of assets previously classified as held for sale and other charges unrelated to core operating performance.
(3)
The Company incurred losses of $10.5 million and $56.7 million for the three months ended and year ended June 27, 2026, respectively, in connection with the extinguishment of certain 1.625% Senior Convertible Notes and extinguishment of the Term Loan B.
The preliminary financial schedules are estimated based on our current information.
VIAVI SOLUTIONS INC.
RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS
TO ADJUSTED EBITDA
(in millions, unaudited)
PRELIMINARY
Three Months Ended
Years Ended
June 27, 2026
June 28, 2025
June 27, 2026
June 28, 2025
GAAP Net income (loss)
$ 32.7
$ 8.0
$ (30.4)
$ 34.8
Interest and other expense (income), net (1)
7.4
(1.8)
41.4
(11.1)
Interest expense
10.4
7.5
47.4
30.0
Provision for income taxes
11.4
2.2
47.5
4.4
Equity investment earnings
(0.6)
(0.6)
(0.8)
(0.6)
Depreciation
10.3
9.6
40.4
38.4
Amortization
20.3
8.3
67.9
24.3
EBITDA
91.9
33.2
213.4
120.2
Restructuring and related (benefits) charges
(1.0)
(0.2)
15.9
0.7
Stock-based compensation
14.2
12.6
55.4
53.1
Employer payroll tax on employee share-based awards
0.2
—
2.7
1.3
Change in fair value of contingent consideration
8.7
(3.4)
33.0
(8.3)
Acquisition and integration related charges
0.2
5.6
12.6
22.3
Other charges (benefits) unrelated to core operating performance (2)
2.1
1.0
13.4
(0.4)
Amortization of acquisition related inventory step-up
—
2.6
6.1
4.3
Adjusted EBITDA
$ 116.3
$ 51.4
$ 352.5
$ 193.2
Note: Certain totals may not add due to rounding.
(1)
The Company incurred losses of $10.5 million and $56.7 million for the three months and year ended June 27, 2026, respectively, in connection with the extinguishment of certain 1.625% Senior Convertible Notes and extinguishment of the Term Loan B.
(2)
Included in the three months ended June 27, 2026 are charges of $1.3 million related to the write off of property, plant and equipment, and other charges unrelated to core operating performance. In addition, included in the year ended June 27, 2026 are $4.8 million of losses on disposal of long-lived assets, $2.1 million charge for restoration services for a VIAVI facility impacted by a fire and other charges unrelated to core operating performance. Included in the year ended June 27, 2025 is a gain of $0.9 million on the sale of assets previously classified as held for sale and other charges unrelated to core operating performance.
The preliminary financial schedules are estimated based on our current information.
VIAVI získala 1,1 milionu USD od EU na projekt SHIELD-6G, který má pomocí AI testovat a chránit budoucí sítě 6G. Firma vyvine digitální dvojčata pro simulaci, detekci a analýzu hrozeb před spuštěním komerčního provozu 6G.
Contribution to flagship 6G projects underscores VIAVI's pivotal role in the next generation of connectivity
, /PRNewswire/ -- VIAVI Solutions Inc. (VIAVI) (NASDAQ: VIAV) today announced that it has been awarded $1.1 million in funding from the European Smart Networks and Services Joint Undertaking (SNS JU) and Horizon Europe to advance the SHIELD-6G project.
As telecom breaches increase in volume and the threat of quantum-enabled cyberattacks moves from theoretical to imminent, network security has become a strategic priority for operators, enterprises and governments worldwide. The SHIELD-6G project aims to develop a comprehensive AI-driven Cyber Threat Intelligence (CTI) platform for 6G networks with interoperable security, orchestration and regulatory compliance. VIAVI will develop digital twins using its TeraVM AI RAN Scenario Generator (RSG), enabling AI-driven security models to be developed, tested and validated ahead of the first commercial 6G signal going live.
As part of SHIELD-6G, VIAVI will use its AI RSG technology to support advanced security testing of 6G network environments, using AI to simulate, detect and analyze potential threats across the network. This includes generating realistic network datasets that enable intelligent anomaly detection and the continuous refinement of AI-based security mechanisms to ensure that vulnerabilities are identified and addressed before they can be exploited in live networks.
"Security for 6G networks has to be built in from day one, and that requires the ability to simulate, test and detect threats before a single commercial 6G signal goes live," said Ian Langley, Senior Vice President, Wireless, Security and Applications Business Unit, VIAVI. "Our AI RSG technology is already being used to provide the essential digital twin foundation required to better understand 6G propagation, improve energy consumption and reduce FR3 signal interference. SHIELD-6G takes that capability directly into the security domain, where the stakes are even higher. We're delighted to be involved in this latest collaboration at the forefront of global technological innovation."
SHIELD-6G is part of the highly competitive Horizon Europe SNS JU call to accelerate European 6G research and innovation, which selected 20 new 6G projects. VIAVI joins a European consortium coordinated by University College Dublin, working alongside global industry leaders including Ericsson, Nokia, THALES & THALES SIX, as well as network operators Telefónica and LMT of Latvia, bringing together the full chain of expertise needed to secure 6G networks end to end.
About VIAVI
VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test, monitoring, assurance, and resilient position, navigation and timing solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.
Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.
Media Inquiries:
Grand Bridges
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[email protected]
+1 415 800 4529
Key Takeaways VIAV lifted non-GAAP operating margin to 21% as NSE and OSP revenue posted strong year-over-year growth.VIAV expects operating margin to reach 22.7% in the fourth quarter, up from 21% in the third quarter.VIAV's earnings estimates for 2026 were unchanged, while 2027 estimates improved over the past 60 days. Viavi Solutions, Inc. (VIAV - Free Report) reported a non-GAAP operating income of $85.5 million, up from $47.7 million a year ago quarter. Non-GAAP operating margin was 21%, up from 16.7% a year ago.
The improvement in operating margin is driven by multiple factors, including strong growth in the Network and Service Enablement segment (NSE) and Optical Security and Performance Products (OSP). In the third quarter of fiscal 2026, the NSE segment generated $321.5 million in revenues, up 54.4% year over year. The segment accounted for 79% of total revenues. Acquisition of Spirent product lines and strong demand across lab, production and field products, mainly from the data center ecosystem and aerospace & defense sectors, drove solid sales growth in this segment. The OSP segment revenues were $85.3 million, up 11.4% year over year, driven by strong demand for 3D Sensing and anti-counterfeiting.
Higher revenue is allowing fixed costs to be spread across a larger sales base. This is resulting in a significant operating leverage. Every incremental dollar of NSE revenue contributes roughly 40-45 cents to operating income, reflecting a highly scalable cost structure. Increasing mix, AI infrastructure and data center business, backed by hyperscalers’ demand, investment by optical module vendors and semiconductor companies will likely drive operating margin in the coming quarters. In the fourth quarter, Viavi expects its operating margin to reach 22.7%, up from 21% in the third quarter.
Other Tech Firms With Strong Margin ExpansionSanmina Corporation (SANM - Free Report) reported a non-GAAP operating profit of $257 million in the second quarter of 2026, up from $111 million a year ago. Non-GAAP operating margin improved to 6.4% from 5.6%. The 131.5% increase year over year and an 80-basis point operating margin expansion are driven by a multitude of factors. The ZT system, which performed significantly better than expected, was one of the biggest contributors. Strong customer demand for accelerated compute systems and earlier-than-expected shipments supported Sanmina’s profitability. Sanmina’s revenues surged 102.3% year over year to $4.01 billion. Revenue growth significantly outpaced the increase in operating expenses. Disciplined cost management was also a key contributor in this regard.
HubSpot. Inc. (HUBS - Free Report) generated a non-GAAP operating income of $156.8 million, up from $100.3 million in the prior-year quarter, with margin expanding 380 basis points year over year to 17.8%. Higher revenues and operating discipline helped offset increased investments in research, AI innovation and sales initiatives. HubSpot continues to witness rising adoption among larger customers as businesses consolidate marketing, sales and service workflows on a unified AI-enabled platform. During the first quarter of 2026, deals above $60,000 in annual recurring revenues increased 37% year over year, while deals above $120,000 ARR rose 64%. HubSpot’s AI strategy is increasingly contributing to customer engagement and monetization.
VIAV’s Price Performance, Valuation and EstimatesViavi has gained 290.8% in the past year compared with the Electronics - Measuring Instruments industry’s growth of 287%.
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Going by the price/earnings ratio, the company’s shares currently trade at 32.8 forward earnings, lower than 41.94 for the industry and its mean of 37.66.
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The company’s earnings estimates for 2026 have remained unchanged and 2027 have improved over the past 60 days.
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VIAV carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways VIAV is gaining from AI infrastructure demand, product innovation and the Spirent business acquisition.VIAV expanded margins as revenues rose 42.8% and non-GAAP operating margin reached 21% in fiscal Q3 2026.Viavi expects AI networking, data centers, 5G, fiber, aerospace and defense demand to support growth. Viavi, Solutions, Inc. (VIAV - Free Report) shares have skyrocketed 167.9% year to date compared with the industry’s growth of 150.2%. The stock has outperformed the Zacks Computer & Technology sector and the S&P 500 during the same time frame.
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The company has outperformed its peers like Keysight Technologies, Inc. (KEYS - Free Report) , and Ciena Corporation (CIEN - Free Report) . Shares of Keysight have jumped 72.3% and shares of Ciena have risen 109.7%.
VIAV Rides on Strength in AI Infrastructure VerticalViavi is witnessing solid traction in its Network and Service Enablement, backed by ongoing AI infrastructure buildout. Growing demand from the data center ecosystem, including hyperscalers and semiconductor-driven infrastructure, is driving revenues in the NSE segment.
The company recently launched the industry's first Ultra Ethernet Transport validation solution for AI fabrics. The platform enables hyperscalers, cloud providers and network equipment vendors to verify AI networks with costly GPU infrastructure. The innovation boost Viavi’s prospects across multiple use cases, such as validation of large language model traffic, congestion control and AI workload emulation and several others.
Viavi recently introduced AI Experts, an AI-driven software layer integrated into its testing platforms. Its capabilities include automated configuration, diagnostics assistance, workflow automation, real-time troubleshooting and faster wireless validation. This shows that VIAV is moving towards intelligent software-enabled testing instead of simply selling hardware. This can improve customers’ brand loyalty and boost software revenues over time. The company also recently secured PCIe 6.0 Certification. The certification enhances VIAVI's credibility as a trusted provider of compliance and validation solutions for advanced computing technologies.
One of the largest contributors to growth is the acquisition of Spirent's high-speed Ethernet, network security and channel emulation businesses. Following the buyout, the company benefited from a broader customer base, an Ethernet testing portfolio expansion, stronger AI networking capabilities and increased cross-selling opportunities. A diverse portfolio, innovation initiatives are boosting its competitive edge against its peers such as Keysight, Ciena and Teradyne.
Strong Operating Margin Growth is a PositiveStrong margin expansion shows improving operating leverage. Revenue grew 42.8% year over year, while non-GAAP operating income grew 79.2% during the same time period. Non-GAAP operating margin improved to 21% in the third quarter of fiscal 2026, up from 16.7% in the year-ago quarter. This reflects higher volumes and a favorable product mix within Network and Service Enablement. Segment profitability benefited from acquisition synergies and stronger demand across data center and aerospace markets. Fourth quarter fiscal 2026 outlook indicates additional operating margin expansion, signaling continued operating leverage as revenues scale and a greater portion of sales comes from differentiated testing and software-oriented offerings.
Estimate Revision TrendThe company’s earnings estimates for 2026 has remained unchanged and for 2027 it has improved over the past 60 days.
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Key Valuation Metric of VIAVFrom a valuation standpoint, VIAV is currently trading at a discount compared to the industry. Going by the price/earnings ratio, the company’s shares currently trade at 51.16 forward 12-month earnings, lower than 58.46 for the industry.
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End NoteViavi is positioning itself as a critical supplier to AI networking infrastructure. Strong demand from data centers, continued 5G and fiber network upgrades, and steady aerospace and defense demand are expected to be major growth drivers for the upcoming quarters. Portfolio expansion through strategic acquisition and a strong focus on innovation is a positive factor. Hence, with a Zacks rank #2 (Buy), Viavi appears to be a good investment option at the moment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
