Ruben Roy

Ryan Koontz

Andrew Spinola

Meta Marshall

Timothy Savageaux

Mehdi Hosseini

Michael Genovese

Mary Lenox

- **VIAV** reported **Q1 2026 revenue of $299.1 million**, marking a **25.6% year-over-year increase**, and **Non-GAAP EPS of $0.15**, which is a **150.0% year-over-year increase**.  **[0000912093_2212665:1]** 
- The company successfully closed the acquisition of Spirent's high-speed ethernet, network security, and channel emulation business lines, which is anticipated to add approximately **$200 million to the annual revenue run rate**.  **[0000912093_2212665:1]** 
- **VIAV** generated **$31.0 million in operating cash flow** and **$22.5 million in free cash flow** during Q1 2026.  **[0000912093_2212665:1]** 
- The company refinanced **$250 million** of its 2026 convertible notes with new 2031 convertible notes and repurchased **$30 million** of its stock.  **[0000912093_2212665:1]**

VIAV announces strong Q1 2026 results and strategic M&A

- Viavi Solutions reported strong fiscal Q1 2026 results, exceeding the high end of their guidance for net revenue, operating margin, and EPS.  **[0000912093_2215005_1]** 
- The company provided fiscal Q2 2026 guidance, anticipating continued growth in revenue and EPS, as detailed in the table below.  **[0000912093_2215005_2]** 
- The recently closed acquisition of Spirent Communications' business lines is expected to add an annual revenue run rate of approximately **$200 million** and contribute positively to NSC margins and EPS in Q2 2026.  **[0000912093_2215005_2]** **[0000912093_2215005_9]** **[0000912093_2215005_10]** 
- Growth in the **Network and Service Enablement (NSC) segment** was primarily driven by strong demand from the **data center ecosystem** and **aerospace and defense** customers, while the wireless business remained soft.  **[0000912093_2215005_1]** **[0000912093_2215005_3]** 
- Viavi refinanced **$250 million** in convertible notes and repurchased approximately **2.7 million shares** for about **$30 million** during the quarter.  **[0000912093_2215005_1]** 

| Metric | Q1 2026 | Q2 2026 (Guidance) |
|---|---|---|
| Net Revenue ($USD Millions) | **$299.1**  **[0000912093_2215005_1]**  | **$360 - $370**  **[0000912093_2215005_2]**  |
| Operating Margin (%) | **15.7%**  **[0000912093_2215005_1]**  | **17.9% ± 0.6%**  **[0000912093_2215005_2]**  |
| EPS ($USD) | **$0.15**  **[0000912093_2215005_1]**  | **$0.18 - $0.20**  **[0000912093_2215005_2]**  |
| NSC Revenue ($USD Millions) | **$216**  **[0000912093_2215005_1]**  | **$283 - $293**  **[0000912093_2215005_2]**  |
| OSB Revenue ($USD Millions) | **$83.1**  **[0000912093_2215005_1]**  | **~$77**  **[0000912093_2215005_2]**  |
| Total Cash & Short-Term Investments ($USD Millions) | **$549.1**  **[0000912093_2215005_1]**  | N/A |
| Cash Flow from Operating Activities ($USD Millions) | **$31**  **[0000912093_2215005_1]**  | N/A |
| CapEx ($USD Millions) | **$8.5**  **[0000912093_2215005_1]**  | N/A |
| Fully Diluted Share Count (Millions) | **227.9**  **[0000912093_2215005_2]**  | **~228.7**  **[0000912093_2215005_2]**  |

Viavi Solutions Reports Strong Fiscal Q1 2026 Results and Provides Q2 Guidance

- VIAVI Solutions reported **Q1 fiscal year 2026 net revenue of $299.1 million**, an **operating margin of 15.7%**, and **EPS of $0.15**, all exceeding the high end of their guidance range.  **[0000912093_2215363_1]** 
- The company provided **Q2 fiscal year 2026 revenue guidance between $360 million and $370 million** and **EPS guidance between $0.18 and $0.20**.  **[0000912093_2215363_2]** 
- The acquisition of Spirent's High-Speed Ethernet Network Security and Channel Emulation business lines was successfully closed in mid-October, and is now expected to add approximately **$200 million** to the annual revenue run rate.  **[0000912093_2215363_2]** **[0000912093_2215363_9]** 
- VIAVI's NSC segment revenue grew **35.5% year-over-year** in Q1 2026, primarily driven by strong demand from the **data center ecosystem** and aerospace and defense customers, with data center revenue potentially surpassing traditional service provider revenue in the future.  **[0000912093_2215363_1]** **[0000912093_2215363_3]** **[0000912093_2215363_4]** 
- During the quarter, VIAVI refinanced **$250 million** in convertible notes and repurchased approximately **2.7 million shares** of its stock for about **$30 million**.  **[0000912093_2215363_1]**

VIAVI Solutions Reports Strong Q1 2026 Results and Raises Q2 2026 Guidance Following Spirent Acquisition

- VIAV reported strong financial performance for Q1 2026, with **revenue of $299.1 million**, marking a **25.6% year-over-year increase**, and **Non-GAAP EPS of $0.15**, up **150.0% year-over-year**, both exceeding the high end of guidance ranges.  **[0000912093_2214314:1]** 
- The company successfully closed the acquisition of Spirent's high-speed ethernet, network security, and channel emulation business lines, which is expected to add approximately **$200 million** to the annual revenue run rate.  **[0000912093_2214314:1]** 
- In capital allocation activities, VIAV closed a **$600 million Term Loan B** to fund the acquisition and for general corporate purposes.  **[0000912093_2214314:1]** 
- VIAV also refinanced **$250 million** of 1.625% 3-year convertible notes due in March 2026 with **$250 million** of 0.625% 5.5-year convertible notes due in March 2031, and repurchased **$30 million of its stock**.  **[0000912093_2214314:1]** 
- The company generated **$31.0 million** in operating cash flow and **$22.5 million** in free cash flow during Q1 FY26.  **[0000912093_2214314:1]**

VIAV Announces Strong Q1 2026 Results, Completes Acquisition, and Refinances Debt

- **VIAV reported strong Q1 fiscal year 2026 results**, with **net revenue of $299.1 million**, an **operating margin of 15.7%**, and **EPS of $0.15**, all exceeding the high end of their guidance range.  **[0000912093_2212783_1]** 
- For **Q2 fiscal year 2026**, the company expects **revenue between $360 million and $370 million** and **EPS between $0.18 and $0.20**.  **[0000912093_2212783_2]** 
- The acquisition of **Spirent Communications' High-Speed Ethernet Network Security and Channel Emulation business lines** was closed, expected to add approximately **$200 million** to the annual revenue run rate and funded by a **$600 million term loan B**.  **[0000912093_2212783_2]** **[0000912093_2212783_10]** 
- The company refinanced **$250 million** in convertible notes due March 2026 with new notes due March 2031 and repurchased approximately **2.7 million shares** for about **$30 million**.  **[0000912093_2212783_1]** 
- Strong demand from the **data center ecosystem** and **aerospace and defense** customers continues, while the **wireless business** remains soft.  **[0000912093_2212783_3]** **[0000912093_2212783_5]**

VIAV Reports Strong Q1 2026 Results and Provides Q2 2026 Guidance

- **VIAVI (NASDAQ: VIAV) reported strong fiscal first quarter 2026 results**, with **net revenue of $299.1 million**, marking a **25.6% year-over-year increase**, and **non-GAAP diluted EPS of $0.15**, up **150.0%** year-over-year.  **[912093_0000912093-25-000151_viavq1fy268-kex991.htm:0]** 
- The company attributed its performance to **strong demand from the data center ecosystem and aerospace & defense customers**, expecting this momentum to continue through the fiscal year.  **[912093_0000912093-25-000151_viavq1fy268-kex991.htm:0]** 
- For the second quarter of fiscal 2026, VIAVI anticipates **net revenue between $360 million to $370 million** and **non-GAAP EPS between $0.18 to $0.20**.  **[912093_0000912093-25-000151_viavq1fy268-kex991.htm:1]** 
- As of September 27, 2025, VIAVI held **$549.1 million in total cash, short-term investments, and short-term restricted cash**.  **[912093_0000912093-25-000151_viavq1fy268-kex991.htm:0]**

VIAVI Announces Strong First Quarter Fiscal 2026 Results

- VIAVI reported **net revenue of $299.1 million** for its fiscal first quarter ended September 27, 2025, marking a **25.6% increase** year-over-year.  **[912093_20251029SF09780:0]** 
- For the first quarter, **non-GAAP diluted earnings per share (EPS) was $0.15**, up **150.0%** year-over-year.  **[912093_20251029SF09780:0]** 
- The company's strong performance was driven by **robust demand from the data center ecosystem and aerospace & defense customers**.  **[912093_20251029SF09780:0]** 
- For the second quarter of fiscal 2026, VIAVI anticipates **net revenue between $360 million and $370 million** and **non-GAAP EPS between $0.18 and $0.20**.  **[912093_20251029SF09780:1]** 
- The recent acquisition of Spirent product lines from Keysight is expected to **further strengthen VIAVI's position in the data center ecosystem**.  **[912093_20251029SF09780:0]**

VIAVI Announces First Quarter Fiscal 2026 Results and Q2 FY2026 Outlook

- **VIAVI Solutions Inc. (VIAV)** completed the acquisition of Spirent Communications plc’s high-speed ethernet, network security, and channel emulation testing business on **October 16, 2025**, for an all-cash consideration of **$425 million**.  **[912093_0001140361-25-038266_ef20057008_ex99-1.htm:0]** **[912093_0001140361-25-038266_ef20057008_8k.htm:1]** 
- The acquisition is expected to add approximately **$180 million to VIAVI’s Network Service Enablement (NSE) revenue** in the first 12 months after closing and is projected to be **accretive to non-GAAP EPS** 12 months after closing.  **[912093_0001140361-25-038266_ef20057008_ex99-1.htm:0]** 
- To finance a portion of the acquisition, VIAVI entered into a **$600 million senior secured term loan credit agreement**, maturing on October 16, 2032, with quarterly principal payments of **1.00% per annum** commencing March 31, 2026.  **[912093_0001140361-25-038266_ef20057008_ex99-1.htm:0]** **[912093_0001140361-25-038266_ef20057008_8k.htm:1]** 
- Concurrently, VIAVI amended its existing revolving credit agreement, **decreasing the facility size from $300 million to $200 million** and extending its maturity date to October 16, 2030.  **[912093_0001140361-25-038266_ef20057008_8k.htm:2]**

VIAVI Solutions Completes Acquisition of Spirent Communications Business

- VIAVI Solutions Inc. (VIAV) **completed the acquisition** of Spirent Communications plc's high-speed ethernet, network security, and channel emulation testing business on **October 16, 2025**.  **[912093_20251016SF99073:0]** 
- The acquisition was made for an **all-cash consideration of $425 million**.  **[912093_20251016SF99073:0]** 
- The transaction is projected to add approximately **$180 million to VIAVI's Network Service Enablement (NSE) revenue** in the first 12 months post-closing and is expected to be accretive to non-GAAP EPS within the same period.  **[912093_20251016SF99073:0]** 
- To finance a portion of the acquisition, VIAVI secured a new **$600 million senior secured term loan**.  **[912093_20251016SF99073:0]**

VIAVI Completes Spirent Business Acquisition

- Viavi Solutions Inc. issued **$250 million** aggregate principal amount of its **0.625% Senior Convertible Notes due 2031** on **August 20, 2025**.  **[912093_0001140361-25-032510_ny20053306x3_ex4-1.htm:0]** **[912093_0001140361-25-032510_ny20053306x3_8k.htm:1]** **[912093_0001140361-25-032510_ny20053306x3_ex4-1.htm:13]** 
- This issuance included **$100.9 million** in exchange for **$97.5 million** aggregate principal amount of its **1.625% Senior Convertible Notes due 2026** and **$149.1 million** for cash.  **[912093_0001140361-25-032510_ny20053306x3_8k.htm:1]** 
- The company expects to use the net proceeds from the cash portion of the transaction to repay a portion of the 2026 Notes upon maturity.  **[912093_0001140361-25-032510_ny20053306x3_8k.htm:1]** 
- The New Notes mature on **March 1, 2031**, and will pay interest semi-annually at an annual rate of **0.625%**, beginning March 1, 2026.  **[912093_0001140361-25-032510_ny20053306x3_8k.htm:2]** 
- The initial conversion rate for the New Notes is **72.5295 shares** of common stock per $1,000 principal amount, which equates to an initial conversion price of approximately **$13.79 per share**.  **[912093_0001140361-25-032510_ny20053306x3_8k.htm:2]**

VIAVI SOLUTIONS (VIAV)