Aviat Networks, Inc. operates globally, specializing in the provision of wireless transport solutions. The company furnishes an extensive portfolio of products complemented ...
Aviat Networks, Inc. (NASDAQ: AVNW) is a global technology company headquartered in Austin, Texas, established in 2006 and incorporated in Delaware. The company is a leading expert in wireless transport solutions, offering a comprehensive portfolio of products and services designed to simplify network infrastructure and enhance operational efficiency. With a ...Aviat Networks, Inc. (NASDAQ: AVNW) is a global technology company headquartered in Austin, Texas, established in 2006 and incorporated in Delaware. The company is a leading expert in wireless transport solutions, offering a comprehensive portfolio of products and services designed to simplify network infrastructure and enhance operational efficiency. With a history spanning over 70 years in the industry, Aviat has built a reputation for delivering high-performance, reliable microwave and millimeter wave transmission systems. Their core offerings include advanced wireless transmission systems, tailored for both microwave and millimeter wave networking applications, catering to a broad clientele such as major communications service providers, government agencies, utility companies, and defense organizations.
The company operates through a direct sales, service, and support organization, supplemented by indirect channels like dealers and resellers, and online platforms. As of the latest data, Aviat employs approximately 920 full-time staff, positioning it within the 501-1000 employee range. Financially, the company has shown a market capitalization of around $272.65 million, with a price-to-earnings ratio of 36.97 and a net profit margin of 2.1%. The company's revenue per share stands at $33.61, and it maintains a strong focus on research and development, with R&D expenses comprising 6.6% of revenue. Key financial metrics indicate a gross profit margin of 32.4%, an EBITDA margin of 7.4%, and a current ratio of 1.99, reflecting a stable liquidity position. The company's debt-to-equity ratio is 0.392, indicating a moderate leverage.
Led by CEO Peter A. Smith, who brings over 25 years of industry experience, Aviat Networks is dedicated to advancing its financial and operational performance. The company's mission is to provide dependable products, services, and support, helping customers simplify their networks and achieve operational ease. With a strong global presence and a commitment to innovation, Aviat Networks continues to be a trusted partner for organizations seeking robust wireless transport solutions.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$439.7M
+1.2%
+20.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$2.5M
+89.3%
+38.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+31.5%
-2.0%
+5.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+4.5%
+283.0%
+281.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+0.6%
+87.2%
+48.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$6.1M
+184.0%
+145.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+1.4%
+183.0%
+137.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
37.1%
+7.4%
-5.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.97x
+19.8%
-1.1%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Welcome to Aviat Networks' Fourth Quarter Fiscal 2026 Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Mr. Andrew Fredrickson, Vice President, Corporate Finance. You may begin.
Andrew Fredrickson: Thank you, and welcome to Aviat Networks' Fourth Quarter Fiscal 2026 Results Conference Call and Webcast. You can find our press release and updated investor presentation in the IR section of our website at www.aviatnetworks.com, along with a replay of today's call. With me today are Pete Smith, Aviat's President and CEO, who will begin with opening remarks on the company's fiscal quarter, followed by Andy Schmidt, CFO, to review financial results for the quarter. Pete will then provide closing remarks on Aviat's strategy and outlook. As a reminder, during today's call and webcast, management may make forward-looking statements regarding Aviat's business, including, but not limited to, statements relating to fiscal guidance, financial projections, business drivers, new products and expansions, the economic activity in different regions. These and other forward-looking statements reflect the company's opinions only as of the date of this call and webcast and involve assumptions, risks and uncertainties that could cause actual results to differ materially from those statements. Additional information on factors that could cause actual results to differ materially from the statements expressed or implied on this call can be found in our most recent filings with the SEC. The company undertakes no obligation to revise or make public any revision of these forward-looking statements in light of new information or future events. Additionally, during today's call and webcast, management will reference both GAAP and non-GAAP financial measures. Please refer to our press release, which is available in the IR section of our website at www.aviatnetworks.com and financial tables therein, which include a GAAP to non-GAAP reconciliation and other supplemental financial information. At this time, I would like to turn the call over to Aviat's President and CEO, Pete Smith. Pete?
Peter Smith: Thanks, Andrew. Let's review the highlights from the fourth quarter. Quarterly revenues of $121 million, up 4.8% versus the year ago period. Adjusted EBITDA of $11.9 million, non-GAAP EPS of $0.64, year-end backlog of $367 million, up 14% versus the end of fiscal year 2025. This marks a strong end to Aviat's fiscal 2026. Full year revenue was $440 million, up 1.2% versus the prior fiscal year. This represents our sixth consecutive year of revenue growth. Aviat is the only microwave company to achieve this growth during the last 6 years. I would also like to note that this was the first time in over a decade that Aviat has had all 4 quarters in the fiscal year with at least $100 million in revenue. This is a tremendous achievement, and I would like to thank all of our …