VIAVI SOLUTIONS INC.
For the period ended Mar 29, 2025. Filed May 2, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 29, 2025 · Filed May 2, 2025
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Consolidated Statements of Cash Flows for the
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended | ||
|---|---|---|
| March 29, 2025 | March 30, 2024 | |
| OPERATING ACTIVITIES: | ||
| Net income (loss) | $26.8 | $(4.1) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation expense | 28.8 | 29.1 |
| Amortization of acquired technologies and other intangibles | 16.0 | 15.4 |
| Stock-based compensation | 40.5 | 36.6 |
| Amortization of debt issuance costs | 5.5 | 5.6 |
| Net change in fair value of contingent liabilities | (4.9) | (7.8) |
| Deferred taxes, net | (29.9) | (2.3) |
| Amortization of inventory step-up | 1.7 | — |
| Restructuring | 0.9 | (0.8) |
| Other | (4.6) | 1.7 |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable | (31.9) | 17.4 |
| Inventories | (0.3) | 6.7 |
| Other current and non-current assets | (1.5) | 3.7 |
| Accounts payable | 15.7 | (4.1) |
| Income taxes payable | 5.6 | 2.3 |
| Deferred revenue, current and non-current | (0.9) | (15.7) |
| Accrued payroll and related expenses | 6.8 | (8.1) |
| Accrued expenses and other current and non-current liabilities | (8.3) | 14.6 |
| Net cash provided by operating activities | $66.0 | $90.2 |
| INVESTING ACTIVITIES: | ||
| Purchases of short-term investments | $(147.7) | $(188.3) |
| Maturities of short-term investments | 145.5 | 174.2 |
| Capital expenditures | (22.3) | (15.7) |
| Proceeds from the sale of assets | 4.7 | 2.6 |
| Acquisition, net of acquired cash and holdbacks | (117.9) | — |
| Other investing activities | (3.0) | — |
| Net cash used in investing activities | $(140.7) | $(27.2) |
| FINANCING ACTIVITIES: | ||
| Retirement of convertible notes upon maturity | $— | $(96.4) |
| Repurchase and retirement of common stock | (16.4) | (10.0) |
| Withholding tax payment on vesting of restricted stock and performance- based awards | (13.1) | (11.0) |
| Payment of financing obligations | (0.2) | (0.2) |
| Proceeds from employee stock purchase plan | 6.0 | 6.3 |
| Payment of acquisition related contingent considerations and obligations | — | (4.0) |
| Other financing activities | 0.2 | — |
| Net cash used in financing activities | $(23.5) | $(115.3) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | $(0.9) | $(0.2) |
| Net increase in cash, cash equivalents and restricted cash | (99.1) | (52.5) |
| Cash, cash equivalents and restricted cash at the beginning of the period (1) | 481.8 | 515.6 |
| Cash, cash equivalents and restricted cash at the end of the period (2) | $382.7 | $463.1 |
(1)These amounts include both current and non-current balances of restricted cash totaling $10.5 million and $9.1 million as of June 29, 2024 and July 1, 2023, respectively.
(2)These amounts include both current and non-current balances of restricted cash totaling $8.5 million and $8.9 million as of March 29, 2025 and March 30, 2024, respectively.
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