Short answer
VIAVI SOLUTIONS INC. (VIAV) filed its fiscal 2026 10-K annual report with the SEC on Aug 13, 2026. It reported revenue of $1.5B (+40.0% year over year) and net income of −$30M.
- Top risk flagged: Regulatory/legal risk: BIS Affiliates Rule reinstatement Nov 2026 to extend U.S. export restrictions, impacting business with Huawei and supply chains
FY2026 key financial metrics · XBRL
- Revenue
- $1.5B
- +40.0% YoY
- Net income
- −$30M
- −187.4% YoY
- Operating margin
- 6.9%
- +1.6 pp YoY
- Gross margin
- 57.7%
- +0.4 pp YoY
- EPS (diluted)
- −$0.13
- −186.7% YoY
- ROE
- -2.1%
- −6.6 pp YoY
- Operating cash flow
- $114M
- +26.8% YoY
Source: XBRL data from the VIAVI SOLUTIONS INC. (VIAV) FY2026 10-K on SEC EDGAR. USD.
VIAVI SOLUTIONS INC. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global leader in test and measurement, optical technologies for network performance, secure critical infrastructure, and anti-counterfeiting
- New emphasis on integration of Spirent Communications plc. Ethernet portfolio for high-speed layers 0-7 OSI protocol testing
- Strategic shift toward AI-driven AIOps, automation, quantum-resilient security, and expansion into 5G+/6G, Open RAN, and mission-critical aerospace/defense applications
- Workforce reduction of ~5%, targeting $30M annualized savings by end of 2026; employee count ~4,100 across 34 countries
- Patent portfolio expanded: 1,220 U.S. patents, 2,225 foreign patents, and 1,062 pending applications highlighting strong IP focus
Management Discussion & Analysis
- Revenue $1.52B, up $434M or 40.0% YoY; NSE segment led with $1.18B (+52.3%), OSP $335M (+9.0%)
- GAAP operating margin 6.9% vs 5.3% (+160 bps); non-GAAP margin 20.6% vs 14.3% (+630 bps)
- Best segment: NSE operating income $190M (+346%), margin 16.1% vs 5.5%; Worst: OSP margin flat 36.6%, revenue +9%
- Operating cash flow $113.9M; capex $31.1M (2% of revenue); $399.3M spent on Spirent acquisition; raised $557.1M net from equity offering; repurchased $30M stock
- Outlook: Continued growth focus, risks from tariffs, 5G adoption uncertainty, competitive pressures, foreign exchange and trade policies
Risk Factors
- Regulatory/legal risk: BIS Affiliates Rule reinstatement Nov 2026 to extend U.S. export restrictions, impacting business with Huawei and supply chains
- Geopolitical risk: Exposure to Taiwan suppliers in semiconductor manufacturing amid U.S.-China-Taiwan tensions risks supply disruption, margin pressure
- Operational risk: Dependency on limited specialized vendors and contract manufacturers increases supply delays, defective parts, higher costs, impacting production and margins
- Market disruption risk: Virtualized networks and software trends threaten NSE segment's legacy hardware demand, increasing competition from lower-barrier software players
- Financial risk: $300M senior secured credit facility extended to 2030 with borrowing base limitations may constrain liquidity and financial flexibility
Generated from the filing text; verify against the original. How to read a 10-K
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