AVIAT NETWORKS, INC.

For the period ended Jun 27, 2025. Filed Sep 10, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Sep 10, 2025

AVNW$15.86-17.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Fiscal Year Ended
(In thousands)	June 27, 2025	June 28, 2024	June 30, 2023
Operating Activities
Net income	$1,341	$10,760	$10,169
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation of property, plant and equipment	5,338	3,991	5,475
Amortization of intangible assets	2,707	1,002	704
Provision for uncollectible receivables	1,729	1,300	467
Share-based compensation	7,067	7,341	6,720
Deferred taxes	182	3,625	9,012
Inventory write-downs	2,430	3,952	2,138
Non-cash lease expense	1,518	948	639
Net (gain) loss on marketable securities	(103)	41	1,734
Other non-cash operating activities, net	355	128	67
Changes in operating assets and liabilities:
Accounts receivable	(28,968)	(9,266)	(24,754)
Unbilled receivables	(15,277)	(34,856)	(12,398)
Inventories	(24,363)	1,589	(4,892)
Accounts payable	49,931	16,551	16,040
Accrued expenses	(7,328)	15,094	(4,306)
Advance payments and unearned revenue	15,646	11,814	6,254
Income taxes payable	2,164	1,445	710
Other assets and liabilities	(8,648)	(4,919)	(15,423)
Net cash provided by (used in) operating activities	5,721	30,540	(1,644)
Investing Activities
Purchases of property, plant and equipment	(12,970)	(2,675)	(5,335)
Purchases of marketable securities	—	(925)	—
Proceeds from sale of marketable securities	—	538	9,157
Proceeds from sale of assets held for sale	2,589	—	—
Acquisitions, net of cash acquired	(18,150)	(32,161)	(15,769)
Net cash used in investing activities	(28,531)	(35,223)	(11,947)
Financing Activities
Proceeds from revolver	95,000	33,200	102,200
Repayments of revolver	(80,000)	(33,200)	(102,200)
Proceeds from term loan	75,000	50,000	—
Repayments of term loan	(50,625)	(1,250)	—
Payments of deferred financing costs	(529)	(79)	(753)
Payments of deferred consideration for acquisitions	(18,552)	—	—
Payments for repurchase of common stock — treasury shares	(597)	(332)	—
Payments for taxes related to net settlement of equity awards	(1,245)	(696)	(1,198)
Proceeds from issuance of common stock under employee stock plans	228	1,058	1,270

	Fiscal Year Ended
Net cash provided by (used in) financing activities	18,680		48,701		(681)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	1,209		(1,605)		(311)
Net (decrease) increase in cash, cash equivalents and restricted cash	(2,921)		42,413		(14,583)
Cash, cash equivalents, and restricted cash, beginning of year	64,934		22,521		37,104
Cash, cash equivalents, and restricted cash, end of year	$62,013		$64,934		$22,521
(In thousands)	June 27,2025	June 28,2024		June 30,2023
Non-cash investing and financing activities:
Unpaid property, plant and equipment	$3,686		$3,574		$168
Common stock issued in connection with acquisition	—		22,331		—
Supplemental disclosures of cash flow information:
Cash paid for interest	$6,681		$2,517		$880
Cash paid for income taxes, net	1,722		808		1,613

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.