Aviat Networks Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue declined year-over-year due to Middle East project delays, but growth initiatives in MDU, utilities, and BEAD are progressing, with strong FY 2027 prospects. Guidance for FY 2026 was updated, and working capital improvements continued.
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Second quarter saw decade-high bookings, $111.5M in revenue, and strong cash generation. New product launches in 5G routers and MDU solutions are opening growth avenues, while guidance remains unchanged and BEAD program benefits are expected in fiscal 2027.
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First quarter fiscal 2026 saw 21.4% revenue growth, margin expansion, and strong private network bookings, especially in public safety and utilities. Guidance for the year remains unchanged, with optimism for BEAD and fixed wireless access opportunities.
Fiscal Year 2025
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Growth is accelerating in public safety, utilities, and rural broadband, with new opportunities in MDUs and cellular routers. Financial controls are improving, and strong NOLs support cash flow. The company is optimistic about ramping commercial wireless broadband deployments through 2027.
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Q4 delivered record adjusted EBITDA and strong EPS growth, driven by private networks and services. Fiscal 2026 guidance anticipates continued growth, with backlog up 11% and new product launches expanding market reach.
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Q3 FY25 saw revenue rise 1.6% year-over-year to $112.6M, with record adjusted EBITDA and improved margins driven by software and private network growth. Guidance remains conservative due to tariffs and macro uncertainty, but demand in North America is strong and U.S. tier one recovery is expected.
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Record quarterly revenue and adjusted EBITDA driven by PASOLINK and 4RF acquisitions, with strong growth in private networks and international markets. Guidance remains unchanged, with upside tied to rural broadband and private network acceleration.
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Revenue grew 1.7% year-over-year to $88.4M, but gross margin and earnings declined due to U.S. Tier 1 CapEx weakness and mix shift. International growth, driven by Pasolink, offset some softness. Bookings are strong, and guidance anticipates recovery in the second half of FY25.
Fiscal Year 2024
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Q4 revenue grew 28% year-over-year to $117M, with full-year revenue up 19% to $408M, driven by Pasolink acquisition and strong private network performance. Fiscal 2025 guidance targets $450M–$490M in revenue and $46M–$52M in adjusted EBITDA, with sequential margin improvement expected.