Viavi Solutions Inc.
Description
Viavi Solutions Inc. provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP). The NE segment offers testing solutions that access the network to perform build-out and maintenance tasks. Its solutions include instruments, software, and services to design, build, activate, certify, troubleshoot, and optimize networks; and test and measurement instrumentation for aviation, aerospace, government, defense, communication and safety. It also offers support and professional services, such as repair, calibration, software support, and technical assistance for the products; and system integration projects, including project management, installation, and implementation, as well as product and technology training, and consulting services. The SE segment provides embedded systems and enterprise performance management solutions for communication service providers, enterprises, and cloud operators with visibility into network, service, and application data. Its solutions include instruments, microprobes, and software, which monitor, collect, and analyze network data to reveal the actual customer experience and to identify opportunities for new revenue streams and network optimization. The OSP segment offers optical products for anti-counterfeiting, consumer electronics, industrial, government, automotive, and industrial markets. The company was formerly known as JDS Uniphase Corporation. Viavi Solutions Inc. was founded in 1923 and is headquartered in Chandler, Arizona.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 30, 2025 | — | — | — | — |
| Aug 7, 2025 | — | — | — | — |
| Apr 30, 2025 | — | — | — | — |
| Jan 31, 2025 | 0.10 | — | — | — |
| Nov 1, 2024 | 0.06 | 0.06 | 0.00 | 0.00% |
Earnings estimate
|
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Jun 2025)
|
Next Year
(Jun 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 8 | 8 | 9 | 8 |
| Average estimate | 0.10 | 0.13 | 0.41 | 0.53 |
| Low estimate | 0.09 | 0.12 | 0.37 | 0.47 |
| High estimate | 0.12 | 0.15 | 0.45 | 0.57 |
| Last year EPS | 0.06 | 0.08 | 0.33 | 0.41 |
Growth estimates
Analyst Ratings
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| Jan 31, 2025 |
Stifel
Ruben Roy
|
Reiterates | Buy | ▲ Raises $12 → $13 |
| Jan 31, 2025 |
UBS
Andrew Spinola
|
Maintains | Neutral | ▲ Raises $10.6 → $11.5 |
| Jan 31, 2025 |
B. Riley Securities
Dave Kang
|
Maintains | Neutral | ▲ Raises $10 → $12 |
| Jan 31, 2025 |
Morgan Stanley
Meta Marshall
|
Maintains | Underweight | ▲ Raises $9.5 → $10 |
| Jan 31, 2025 |
Northland Capital Markets
Tim Savageaux
|
Reiterates | Outperform | ▲ Raises $13 → $14 |
| Jan 31, 2025 |
Needham
Ryan Koontz
|
Upgrade | Buy | Announces $15 |
| Dec 17, 2024 |
Morgan Stanley
Meta Marshall
|
Downgrade | Underweight | ▲ Raises $8 → $9.5 |
| Dec 16, 2024 |
Needham
Ryan Koontz
|
Reiterates | Hold | — |
| Dec 16, 2024 |
Stifel
Ruben Roy
|
Maintains | Buy | ▲ Raises $10.5 → $12 |
| Nov 19, 2024 |
UBS
Andrew Spinola
|
Initiates | Neutral | Announces $10.6 |
| Nov 1, 2024 |
Rosenblatt
Mike Genovese
|
Maintains | Neutral | ▲ Raises $8.25 → $10.5 |
| Nov 1, 2024 |
Northland Capital Markets
Tim Savageaux
|
Maintains | Outperform | ▲ Raises $11 → $13 |
| Nov 1, 2024 |
Needham
Ryan Koontz
|
Reiterates | Hold | — |
| Aug 9, 2024 |
B. Riley Securities
Dave Kang
|
Maintains | Neutral | ▼ Lowers $9 → $8.5 |
| Aug 9, 2024 |
Needham
Ryan Koontz
|
Reiterates | Hold | — |
| Aug 6, 2024 |
Stifel
Ruben Roy
|
Maintains | Buy | ▼ Lowers $13 → $10.5 |
| Jun 26, 2024 |
Rosenblatt
Mike Genovese
|
Downgrade | Neutral | ▼ Lowers $10 → $8.25 |
| May 3, 2024 |
Needham
Ryan Koontz
|
Reiterates | Hold | — |
| May 3, 2024 |
Rosenblatt
Mike Genovese
|
Maintains | Buy | ▼ Lowers $13 → $10 |
| Apr 3, 2024 |
Rosenblatt
Mike Genovese
|
Maintains | Buy | ▼ Lowers $15 → $13 |
| Apr 1, 2024 |
Stifel
Ruben Roy
|
Maintains | Buy | Maintains $13 |
| Apr 1, 2024 |
Needham
Alex Henderson
|
Reiterates | Hold | — |
| Mar 7, 2024 |
Susquehanna
Mehdi Hosseini
|
Maintains | Positive | ▲ Raises $12 → $14 |
| Mar 6, 2024 |
Morgan Stanley
Meta Marshall
|
Maintains | Equal-Weight | ▲ Raises $9 → $11 |
| Mar 6, 2024 |
Rosenblatt
Mike Genovese
|
Maintains | Buy | ▲ Raises $13 → $15 |
| Mar 6, 2024 |
Northland Capital Markets
Tim Savageaux
|
Maintains | Outperform | ▲ Raises $12 → $17 |
| Feb 12, 2024 |
Stifel
Ruben Roy
|
Upgrade | Buy | ▲ Raises $10 → $13 |
| Dec 13, 2023 |
Rosenblatt
Mike Genovese
|
Maintains | Buy | ▲ Raises $10 → $12 |
| Nov 3, 2023 |
Morgan Stanley
Connor Lynagh
|
Maintains | Equal-Weight | ▼ Lowers $10 → $9 |
| Nov 3, 2023 |
Rosenblatt
Mike Genovese
|
Maintains | Buy | ▼ Lowers $14 → $10 |
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | 2020-06-30 |
| Total reported revenue | 1.00B | 1.11B | 1.29B | 1.20B | 1.14B |
| Cost of revenue | 424.50M | 467.30M | 518.90M | 484.50M | 471.00M |
| Gross profit | 575.90M | 638.80M | 773.50M | 714.40M | 665.30M |
| Operating expense | |||||
| Research & development | 201.90M | 206.90M | 213.20M | 203.00M | 193.60M |
| Selling general and admin | 333.30M | 328.70M | 365.70M | 337.50M | 315.00M |
| Other operating expenses | — | — | — | — | — |
| Operating income | 34.40M | 94.50M | 184.90M | 140.60M | 121.60M |
| Non operating interest income | |||||
| Income | 18.90M | 10.20M | 3.40M | 2.90M | 7.10M |
| Expense | 28.30M | 24.60M | 20.50M | 12.40M | 11.60M |
| Other income expense | -10.80M | -16.90M | -99.90M | 2.00M | -1.00M |
| Pretax income | 11.60M | 60.70M | 65.10M | 130.80M | 114.30M |
| Tax provision | 37.40M | 35.20M | 49.60M | 63.30M | 65.30M |
| Net income | -25.80M | 25.50M | 15.50M | 67.50M | 49.00M |
| Basic EPS | -0.12 | 0.11 | 0.07 | 0.20 | 0.12 |
| Diluted EPS | -0.12 | 0.11 | 0.07 | 0.20 | 0.12 |
| Basic average shares | 222.60M | 224.70M | 230.90M | 228.70M | 229.40M |
| Diluted average shares | 222.60M | 224.70M | 230.90M | 228.70M | 229.40M |
| EBITDA | 108.00M | 171.30M | 261.30M | 243.90M | 235.20M |
| Net income from continuing op. | -25.80M | 25.50M | 15.50M | 67.50M | 49.00M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | 2020-06-30 |
| Total assets | 1.74B | 1.85B | 1.83B | 1.96B | 1.78B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 471.30M | 506.50M | 559.90M | 697.80M | 539.00M |
| Other short term investments | 19.90M | 14.60M | 1.40M | 1.60M | 1.50M |
| Accounts receivable | 213.10M | 231.20M | 260.90M | 256.50M | 235.50M |
| Other receivables | — | — | — | — | — |
| Inventory | 96.50M | 116.10M | 110.10M | 94.90M | 83.30M |
| Prepaid assets | 24.20M | 26.30M | 27.80M | 23.50M | 18.20M |
| Restricted cash | 5.00M | 4.50M | 3.60M | 4.30M | 3.50M |
| Assets held for sale | 2.50M | 2.50M | 2.50M | 6.50M | 2.50M |
| Hedging assets | 1.70M | 3.50M | 3.80M | — | — |
| Other current assets | 10.50M | 7.10M | 10.20M | 7.90M | 8.70M |
| Non current assets | |||||
| Properties | 35.80M | 40.40M | — | — | — |
| Land and improvements | 19.50M | 19.60M | 19.20M | 19.90M | 16.80M |
| Machinery furniture equipment | 449.30M | 439.30M | 390.70M | 399.60M | 372.80M |
| Construction in progress | 20.00M | 24.50M | 71.20M | 30.10M | 15.60M |
| Leases | 73.00M | 70.70M | 69.80M | 69.50M | 66.80M |
| Accumulated depreciation | -408.50M | -386.00M | -363.70M | -357.90M | -322.40M |
| Goodwill | 944.00M | 969.00M | 829.40M | 881.00M | 910.90M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 38.20M | 58.60M | 54.20M | 88.00M | 148.10M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 102.30M | 106.00M | 152.10M | 168.80M | 160.70M |
| Total liabilities | 1.05B | 1.16B | 1.16B | 1.20B | 1.06B |
| Current liabilities | |||||
| Accounts payable | 50.40M | 47.20M | 58.30M | 63.20M | 53.00M |
| Accrued expenses | 96.10M | 87.20M | 114.30M | 107.50M | 85.10M |
| Short term debt | 9.80M | 106.30M | 78.50M | 468.20M | 14.50M |
| Deferred revenue | 65.70M | 78.60M | 81.00M | 70.10M | 55.10M |
| Tax payable | 9.30M | 8.70M | 21.10M | 27.50M | 13.90M |
| Pensions | — | — | — | — | — |
| Other current liabilities | 15.80M | 15.50M | 16.10M | 10.90M | 11.20M |
| Non current liabilities | |||||
| Long term debt | 677.40M | 674.70M | 666.00M | 271.00M | 645.20M |
| Provision for risks and charges | 17.00M | 15.80M | 12.90M | 18.30M | 11.60M |
| Deferred liabilities | 11.70M | 13.90M | 9.50M | 24.30M | 23.90M |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 16.80M | 26.60M | 9.60M | 14.30M | 23.90M |
| Shareholders equity | |||||
| Common stock | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 |
| Retained earnings | -69.65B | -69.60B | -69.54B | -69.32B | -69.40B |
| Other shareholders equity | -144.00M | -136.00M | -156.40M | -97.20M | -165.90M |
| Total shareholders equity | 681.60M | 690.80M | 671.70M | 763.90M | 711.40M |
| Additional paid in capital | 70.47B | 70.43B | 70.37B | 70.18B | 70.27B |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||||
| Net Income | -25.80M | 25.50M | 15.50M | 67.50M | 49.00M | 5.40M | -48.60M | 160.20M | -99.20M | -88.10M | -17.80M | 57.00M | -55.60M | 71.60M | -61.80M | -909.50M | -21.70M | -26.30M | -151.20M | -261.30M | -115.50M | -933.80M | -8.74B | -56.12B | -904.70M | -171.10M | -19.60M | -17.80M | 2.80M | 700,000 | 2.20M | -800,000 | 1.10M |
| Depreciation | 58.70M | 69.50M | 75.40M | 102.30M | 107.80M | 112.20M | 83.40M | 57.70M | 70.60M | 140.00M | 131.50M | 144.60M | 157.80M | 153.20M | 136.70M | 163.40M | 196.10M | 161.90M | 133.20M | 62.00M | 57.70M | 130.10M | 1.77B | 5.60B | 950.70M | 30.70M | 10.10M | 4.80M | 2.10M | 1.20M | 900,000 | 900,000 | 900,000 |
| Deferred Taxes | — | 4.80M | -10.50M | 600,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | -9.50M | -2.10M | 300,000 | — | 61.10M | 340.80M | -598.30M | -78.90M | 5.10M | -800,000 | -1.60M | -1.00M | -2.20M | 200,000 | -400,000 | 200,000 |
| Stock-Based Compensation | 49.40M | 51.20M | 52.30M | 48.30M | 44.60M | 38.20M | 30.50M | 33.20M | 44.00M | 66.90M | 64.10M | 56.50M | 49.10M | 41.40M | 43.10M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 17.10M | 10.60M | 7.10M | -200,000 | -23.90M | 21.90M | 38.60M | 39.40M | 30.90M | 34.40M | 27.30M | 17.20M | 25.40M | 21.10M | 12.30M | 50.20M | 19.00M | -15.60M | 65.60M | 35.50M | 18.40M | — | 148.30M | — | — | — | -100,000 | -100,000 | 7.50M | 4.30M | — | -100,000 | 200,000 |
| Accounts Receivable | 13.90M | 37.40M | -18.30M | -15.00M | -5.10M | -17.80M | -53.20M | 23.70M | 23.40M | -12.50M | -9.60M | 39.20M | 17.20M | -52.80M | -62.30M | 110.90M | -23.00M | -22.30M | -67.10M | 1.80M | -12.00M | 39.50M | 343.70M | -21.00M | -132.90M | -21.50M | -12.40M | 1.10M | -6.40M | -3.30M | -800,000 | -300,000 | -100,000 |
| Accounts Payable | 3.20M | -9.40M | -5.60M | 7.00M | -9.20M | 8.70M | 13.20M | -14.80M | -2.10M | -10.10M | 25.90M | -16.10M | -29.20M | 9.70M | 20.80M | -12.60M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | -100,000 | 2.30M | -36.30M | 12.90M | 32.40M | -20.30M | -1.10M | -38.20M | 700,000 | 8.00M | -28.20M | -106.50M | -31.10M | -20.40M | 73.90M | -48.90M | 30.60M | 8.80M | -5.30M | -83.20M | -111.60M | -7.30M | 185.70M | 66.60M | -22.80M | -100,000 | 13.50M | -3.40M | -4.20M | -1.60M | -1.00M | -100,000 | -400,000 |
| Operating Cash Flow | 116.40M | 191.90M | 79.60M | 223.40M | 195.60M | 148.30M | 62.80M | 261.20M | 68.30M | 138.60M | 193.20M | 191.90M | 133.60M | 223.80M | 162.70M | -646.50M | 201.00M | 97.00M | -26.90M | -244.90M | -163.00M | -710.40M | -5.95B | -51.08B | -188.60M | -156.90M | -9.30M | -17.00M | 800,000 | -900,000 | 1.50M | -800,000 | 1.90M |
| Investing Activities | |||||||||||||||||||||||||||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — | — | — | — | -65.10M | -72.20M | -116.70M | -41.40M | -52.40M | -48.10M | -65.50M | -35.60M | -9.10M | -30.40M | -18.80M | -122.70M | 1.43B | -280.00M | -46.60M | -35.70M | -58.10M | -8.40M | -10.80M | -1.10M | -700,000 | -400,000 |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | -68.00M | -8.30M | -700,000 | -2.50M | -47.00M | -509.90M | — | -900,000 | — | -216.00M | -83.20M | -12.50M | 700,000 | -201.80M | -3.80M | -59.90M | -69.20M | -479.70M | -70.30M | -37.10M | -34.40M | -176.90M | 175.70M | -189.00M | — | — | — | — | — | — | — | — |
| Purchase of Investments | -225.10M | -13.10M | — | — | — | — | -382.90M | -679.40M | -422.40M | -562.70M | -1.07B | -466.60M | -444.80M | -355.30M | -427.60M | -547.60M | -762.10M | -777.00M | -541.40M | -1.40B | -3.97B | -2.59B | -4.02B | -1.59B | -2.40B | -204.80M | -187.20M | -98.00M | -74.30M | -10.60M | -11.70M | — | — |
| Sale of Investments | 219.60M | — | — | — | — | 167.20M | 643.00M | 825.60M | 683.00M | 646.20M | 730.00M | 576.60M | 418.20M | 285.30M | 623.50M | 745.10M | 930.60M | 911.80M | 557.80M | 1.79B | 3.77B | 2.67B | 3.84B | — | 1.76B | 176.40M | 177.30M | 107.30M | 17.70M | 17.10M | — | — | — |
| Investing Cash Flow | -2.10M | -76.00M | 1.50M | 3.40M | 2.10M | 125.60M | -244.00M | 152.10M | 279.70M | 95.70M | -552.00M | -25.00M | -105.70M | -188.30M | -67.40M | 140.80M | 53.40M | 6.40M | -506.70M | 303.50M | -268.10M | 23.20M | -472.70M | -500,000 | -819.60M | -40.30M | -45.70M | -48.90M | -83.50M | -4.30M | -12.60M | -600,000 | -600,000 |
| Financing Activities | |||||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | — | 118.00M | 400.00M | — | — | — | 225.00M | 460.00M | — | — | 650.00M | — | 6.90M | — | — | 300,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -96.40M | -68.10M | -150.00M | — | — | -276.90M | -353.30M | -45.40M | -5.90M | — | — | -306.80M | -13.20M | -200,000 | — | -139.60M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | -15.60M | -23.90M | -382.30M | -23.20M | -32.80M | -17.70M | -16.30M | -24.00M | -154.90M | -23.30M | -27.70M | -2.70M | -13.50M | -6.80M | -8.60M | — | — | — | — | — | — | — | — | — | — | -100,000 | — | -100,000 | — | — | — | — | 100,000 |
| Financing Cash Flow | -132.00M | -57.90M | -368.20M | -65.40M | -77.20M | -305.80M | -185.40M | 298.60M | -169.50M | -28.10M | 467.10M | -309.50M | -19.80M | -7.00M | -8.60M | -226.10M | -97.40M | 13.00M | 28.20M | 14.50M | 18.80M | 21.40M | 65.10M | 417.70M | 827.20M | 15.40M | 4.40M | 4.30M | 119.50M | 1.00M | 11.90M | — | 100,000 |
| Other Cash Details | |||||||||||||||||||||||||||||||||
| End Cash Position | 481.80M | 515.60M | 572.80M | 708.40M | 547.40M | 530.40M | 624.30M | 1.02B | 482.90M | 347.90M | 297.20M | 281.00M | 401.10M | 395.40M | 340.20M | 286.90M | 265.60M | 362.90M | 364.90M | 506.70M | 327.50M | 241.90M | 412.40M | 762.80M | 319.00M | 75.40M | 33.30M | 29.70M | — | — | — | — | — |
| Income Tax Paid | 30.90M | 47.50M | 77.10M | 36.70M | 50.60M | 29.80M | 24.40M | 23.10M | 31.80M | 23.80M | 18.70M | 14.30M | 16.20M | 15.30M | 9.60M | 12.90M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 23.90M | 22.00M | 17.90M | 12.30M | 11.30M | 11.80M | 11.20M | 6.70M | 6.60M | 6.50M | 4.60M | 4.80M | 6.00M | 5.80M | 6.10M | 6.50M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 96.90M | 63.00M | 105.60M | 191.20M | 103.70M | 93.80M | 23.50M | 55.70M | 28.80M | -19.20M | 76.80M | 122.70M | 46.90M | 88.60M | 77.80M | 52.70M | 145.50M | -14.40M | -148.40M | -175.70M | -192.60M | -256.70M | -46.80M | -679.30M | 1.10M | 20.30M | 15.30M | -36.20M | -9.80M | -8.00M | 700,000 | -600,000 | 1.70M |
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