VIAVI SOLUTIONS INC.

For the period ended Mar 28, 2026. Filed Apr 30, 2026.

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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 28, 2026 · Filed Apr 30, 2026

VIAV$28.47+8.3%Stored close · as of Nov 6, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 28, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from	to

Commission File Number 000-22874

Viavi Solutions Inc.

(Exact name of Registrant as specified in its charter)

Delaware	94-2579683
(State or other jurisdiction ofincorporation or organization)	(I.R.S. EmployerIdentification Number)

1445 South Spectrum Blvd, Suite 102, Chandler, Arizona 85286

(Address of principal executive offices including Zip code)

(408)404-3600

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of the exchange on which registered
Common Stock, par value of $0.001 per share	VIAV	The Nasdaq Stock Market LLC

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	☒	Accelerated filer	☐	Non-accelerated filer (Do not check if a smaller reporting company)	☐	Smaller reporting company	☐	Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.	☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒

As of April 25, 2026, the Registrant had 233,907,870 shares of common stock outstanding.

TABLE OF CONTENTS	Page
PART I - FINANCIAL INFORMATION	2
	Item 1.	Financial Statements (Unaudited)	2
		Consolidated Statements of Operations for the Three and Nine Months Ended March 28, 2026 and March 29, 2025	2
		Consolidated Statements of Comprehensive (Loss) Income for the Three and Nine Months Ended March 28, 2026 and March 29, 2025	3
		Consolidated Balance Sheets as of March 28, 2026 and June 28, 2025	4
		Consolidated Statements of Cash Flows for the Nine Months Ended March 28, 2026 and March 29, 2025	5
		Consolidated Statements of Stockholders’ Equity for the Three and Nine Months Ended March 28, 2026 and March 29, 2025	6
		Notes to Consolidated Financial Statements	8
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	37
	Item 3.	Quantitative and Qualitative Disclosure About Market Risks	53
	Item 4.	Controls and Procedures	54
PART II - OTHER INFORMATION	55
	Item 1.	Legal Proceedings	55
	Item 1A.	Risk Factors	56
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	71
	Item 3.	Defaults Upon Senior Securities	71
	Item 4.	Mine Safety Disclosures	71
	Item 5.	Other Information	71
	Item 6.	Exhibits	71
SIGNATURES	72

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements

CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share data)

	Three Months Ended		Nine Months Ended
	March 28, 2026	March 29, 2025	March 28, 2026	March 29, 2025
Revenues:
Product revenue	$357.0	$241.5	$931.7	$664.7
Service revenue	49.8	43.3	143.5	129.1
Total net revenue	406.8	284.8	1,075.2	793.8
Cost of revenues:
Product cost of revenue	141.6	96.7	377.7	265.9
Service cost of revenue	18.1	21.3	51.4	57.6
Amortization of acquired technologies	13.0	6.1	32.4	12.7
Total cost of revenues	172.7	124.1	461.5	336.2
Gross profit	234.1	160.7	613.7	457.6
Operating expenses:
Research and development	71.0	50.0	192.9	151.5
Selling, general and administrative	113.6	101.3	344.9	259.7
Amortization of other intangibles	7.4	1.2	15.2	3.3
Restructuring and related charges (benefits)	17.3	(0.3)	16.9	0.9
Total operating expenses	209.3	152.2	569.9	415.4
Income from operations	24.8	8.5	43.8	42.2
Loss on debt extinguishment (Note 11)	(3.7)	—	(46.2)	—
Interest and other income, net	7.0	2.2	12.2	9.3
Interest expense	(14.3)	(7.5)	(37.0)	(22.5)
Income (loss) before income taxes and equity investment earnings	13.8	3.2	(27.2)	29.0
Provision for (benefit from) income taxes	7.4	(16.3)	36.1	2.2
Equity investment earnings	—	—	0.2	—
Net income (loss)	$6.4	$19.5	$(63.1)	$26.8
Net income (loss) per share:
Basic	$0.03	$0.09	$(0.28)	$0.12
Diluted	$0.03	$0.09	$(0.28)	$0.12
Shares used in per share calculations:
Basic	232.0	222.6	226.2	222.2
Diluted	249.5	226.9	226.2	225.2

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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.