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VIAV

Viavi Solutions Inc.

VIAV

Viavi Solutions Inc. • NASDAQ
$17.93 ▼ -0.19% (-0.04)
Market Cap $4.00 B
52w High $18.46
52w Low $8.10
Dividend Yield 0%
P/E 298.75
Volume 1.62M
Outstanding Shares 223.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $299.1M ▲ $145.4M ▼ $-21.4M ▼ -7.155% ▼ $-0.1 ▼ $23.2M ▼
Q4-2025 $290.5M ▲ $146.9M ▲ $8M ▼ 2.754% ▼ $0.036 ▼ $35M ▲
Q3-2025 $284.8M ▲ $135.5M ▼ $19.5M ▲ 6.847% ▲ $0.088 ▲ $27.3M ▼
Q2-2025 $270.8M ▲ $137.5M ▲ $9.1M ▲ 3.36% ▲ $0.041 ▲ $40.2M ▲
Q1-2025 $238.2M $127.7M $-1.8M -0.756% $-0.008 $28.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $545.6M ▲ $2.082B ▲ $1.358B ▲ $723.9M ▼
Q4-2025 $425.3M ▲ $1.994B ▲ $1.214B ▲ $780.2M ▲
Q3-2025 $396.8M ▼ $1.933B ▲ $1.204B ▲ $728.8M ▲
Q2-2025 $509.4M ▲ $1.725B ▼ $1.042B ▲ $682.8M ▼
Q1-2025 $493.1M $1.738B $1.036B $702.1M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-21.4M ▼ $31M ▲ $-8.3M ▼ $97.7M ▲ $120M ▲ $22.5M ▲
Q4-2025 $8M ▼ $23.8M ▲ $12.3M ▲ $-100K ▲ $49.4M ▲ $18.3M ▲
Q3-2025 $19.5M ▲ $7.8M ▼ $-124.9M ▼ $-1.6M ▼ $-113.8M ▼ $1M ▼
Q2-2025 $9.1M ▲ $44.7M ▲ $-4.3M ▲ $-900K ▲ $18.3M ▲ $36.5M ▲
Q1-2025 $-1.8M $13.5M $-11.5M $-21M $-3.7M $6.2M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Product
Product
 $230.00M ▲$240.00M ▲$250.00M ▲$260.00M ▲
Service
Service
 $50.00M ▲$40.00M ▼$40.00M ▲$40.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Viavi’s revenue has been relatively steady over the last few years, but it has not returned to its earlier peak, suggesting a more challenging demand environment, especially after the strong 5G build‑out phase. Profitability has been quite up‑and‑down: margins improved during the earlier part of the period, then compressed, with operating income and net income dropping sharply and even turning negative at one point before recovering to only modest profit levels. This pattern points to a business that is still structurally profitable but sensitive to swings in customer spending and pricing pressure. Overall, the income statement shows a company in recovery mode rather than in strong growth mode, with a clear need to rebuild margins.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and stable, without dramatic expansion or contraction. Total assets have stayed in a similar range, while shareholders’ equity dipped in the middle of the period and then began to rebuild, which is a mild positive sign. Debt levels are meaningful but not extreme, and they have edged down rather than up, which reduces financial risk somewhat. Cash reserves have declined from earlier, more comfortable levels, which slightly narrows the company’s cushion against shocks, but liquidity still appears workable rather than distressed.

Cash Flow

Cash Flow Viavi has consistently generated positive cash from its operations, which is a key strength, but the amount of cash produced has gradually trended lower versus earlier years. Free cash flow has stayed positive throughout, indicating that after paying for equipment and development needs, the company still has cash left over. Capital spending has been controlled and relatively modest, suggesting a disciplined approach rather than aggressive expansion. The main message from the cash flow is resilience but not momentum: the business funds itself, yet it is not currently in a phase of strong cash growth.

Competitive Edge

Competitive Edge Viavi occupies a specialized and important niche in network testing, optical technologies, and performance assurance, serving telecom operators, network equipment makers, enterprises, and governments. Its long history in fiber optics and network measurement, along with deep relationships with major carriers, creates switching costs and a reputation advantage that newer entrants struggle to match. The company also benefits from a diversified portfolio that includes network assurance and optical security products, which reduces reliance on any single segment. However, it operates in a highly competitive field with large, well‑resourced rivals, and its results show that it is not immune to budget cycles, technology shifts, and pricing pressure from those competitors.

Innovation and R&D

Innovation and R&D Innovation is a clear focal point for Viavi. The company is investing in advanced areas such as 5G and early 6G test solutions, AI‑driven analytics for network automation, and specialized optical security products, all of which aim to keep it embedded in customers’ most critical infrastructure projects. It is also positioning around emerging themes like AI data center infrastructure and quantum communications, which could open new growth avenues if those markets scale as expected. The trade‑off is that such innovation requires sustained R&D spending, which pressures near‑term margins and carries uncertainty about the timing and size of returns. Still, Viavi’s technology roadmap aligns well with long‑term trends in faster, smarter, and more secure networks.

Summary

Taken together, Viavi looks like a mature, specialized technology company navigating a transition period. Its financials show stable but not growing revenue, profitability that has been pressured and is now slowly recovering, and a balance sheet that is sound but with a slimmer cash cushion than in the past. Cash flow remains a key strength, providing flexibility to keep investing in R&D despite uneven earnings. Strategically, Viavi’s deep expertise in network and optical testing, plus strong customer relationships, gives it a defensible position, but competitive intensity and telecom spending cycles remain important risks. Future performance will likely hinge on how effectively it converts its investments in 5G/6G, AI‑driven automation, and new optical and quantum technologies into sustainable, higher‑margin growth over time.

NEWS

November 19, 2025 · 6:30 AM UTC

VIAVI Receives Award from U.S. Department of Transportation to Advance Complementary Position, Navigation, and Timing (CPNT) for Critical Infrastructure

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November 6, 2025 · 6:30 AM UTC

VIAVI and Calnex Simplify Open RAN Conformance and Performance with Comprehensive Pre-Certification Testbeds

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November 4, 2025 · 6:30 AM UTC

VIAVI Takes First Place at CHALLENGE.GOV Electronic Warfare (EW) Battlefield Realism Prize Challenge

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October 29, 2025 · 4:15 PM UTC

VIAVI Announces First Quarter Fiscal 2026 Results

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October 16, 2025 · 8:55 AM UTC

VIAVI Closes Acquisition of Spirent Communications plc's High-Speed Ethernet, Network Security and Channel Emulation Testing Business

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