AVIAT NETWORKS, INC.
For the period ended Aug 27, 2026. Filed Aug 27, 2026.
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Aug 27, 2026 · Filed Aug 27, 2026
AVNW$17.66+4.1%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations
| Three Months Ended | Twelve Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
| July 3, 2026 | % ofRevenue | June 27, 2025 | % ofRevenue | July 3, 2026 | % ofRevenue | June 27, 2025 | % ofRevenue | |
| (In thousands, except percentages and per share amounts) | ||||||||
| GAAP gross margin | $37,244 | 30.8% | $39,466 | 34.2% | $138,291 | 31.5% | $139,436 | 32.1% |
| Share-based compensation | 41 | 19 | 146 | 233 | ||||
| Litigation and other expenses | 68 | 595 | 1,315 | 2,890 | ||||
| Non-GAAP gross margin | 37,353 | 30.9% | 40,080 | 34.7% | 139,752 | 31.8% | 142,559 | 32.8% |
| GAAP research and development expenses | $7,238 | 6.0% | $7,434 | 6.4% | $28,401 | 6.5% | $35,768 | 8.2% |
| Share-based compensation | (37) | (78) | (135) | (534) | ||||
| Non-GAAP research and development expenses | 7,201 | 6.0% | 7,356 | 6.4% | 28,266 | 6.4% | 35,234 | 8.1% |
| GAAP selling and administrative expenses | $22,384 | 18.5% | $21,134 | 18.3% | $88,509 | 20.1% | $89,482 | 20.6% |
| Share-based compensation | (1,641) | (1,344) | (5,921) | (6,300) | ||||
| Litigation and other expenses | (598) | (6) | (1,656) | (4,896) | ||||
| Non-GAAP selling and administrative expenses | 20,145 | 16.7% | 19,784 | 17.2% | 80,932 | 18.4% | 78,286 | 18.0% |
| GAAP operating expense | $31,422 | 26.0% | $30,587 | 26.5% | $119,054 | 27.1% | $128,861 | 29.7% |
| Share-based compensation | (1,678) | (1,422) | (6,056) | (6,834) | ||||
| Litigation and other expenses | (598) | (6) | (1,656) | (4,896) | ||||
| Restructuring (charges) recovery | (1,800) | (2,019) | (2,144) | (3,611) | ||||
| Non-GAAP operating expense | 27,346 | 22.6% | 27,140 | 23.5% | 109,198 | 24.8% | 113,520 | 26.1% |
| GAAP operating income | $5,822 | 4.8% | $8,879 | 7.7% | $19,237 | 4.4% | $10,575 | 2.4% |
| Share-based compensation | 1,719 | 1,441 | 6,202 | 7,067 | ||||
| Litigation and other expenses | 666 | 601 | 2,971 | 7,786 | ||||
| Restructuring charges | 1,800 | 2,019 | 2,144 | 3,611 | ||||
| Non-GAAP operating income | 10,007 | 8.3% | 12,940 | 11.2% | 30,554 | 6.9% | 29,039 | 6.7% |
| GAAP income tax provision | $6,177 | 5.1% | $4,982 | 4.3% | $10,680 | 2.4% | $2,235 | 0.5% |
| Adjustment to reflect pro forma tax rate | (6,677) | (4,582) | (9,380) | (635) | ||||
| Non-GAAP income tax (benefit) provision | (500) | (0.4)% | 400 | 0.3% | 1,300 | 0.3% | 1,600 | 0.4% |
| GAAP net (loss) income | $(1,276) | (1.1)% | $5,197 | 4.5% | $2,539 | 0.6% | $1,341 | 0.3% |
| Share-based compensation | 1,719 | 1,441 | 6,202 | 7,067 | ||||
| Litigation and other expenses | 666 | 601 | 2,971 | 7,786 | ||||
| Restructuring charges | 1,800 | 2,019 | 2,144 | 3,611 | ||||
| Other (income) expense, net | (1,290) | (3,106) | (1,661) | 941 | ||||
| Adjustment to reflect pro forma tax rate | 6,677 | 4,582 | 9,380 | 635 | ||||
| Non-GAAP net income | $8,296 | 6.9% | $10,734 | 9.3% | $21,575 | 4.9% | $21,381 | 4.9% |
| Diluted net (loss) income per share: | ||||||||
| GAAP | $(0.10) | $0.40 | $0.19 | $0.10 | ||||
| Non-GAAP | $0.64 | $0.83 | $1.66 | $1.67 | ||||
| Shares used in computing net income per share | ||||||||
| GAAP | 12,920 | 12,867 | 13,027 | 12,826 | ||||
| Non-GAAP | 13,042 | 12,867 | 13,027 | 12,826 | ||||
| Adjusted EBITDA: | ||||||||
| GAAP net (loss) income | $(1,276) | (1.1)% | $5,197 | 4.5% | $2,539 | 0.6% | $1,341 | 0.3% |
| Depreciation and amortization of property, plant and equipment and intangible assets | 1,871 | 2,110 | 6,118 | 8,045 | ||||
| Interest expense, net | 2,211 | 1,806 | 7,679 | 6,058 | ||||
| Other (income) expense, net | (1,290) | (3,106) | (1,661) | 941 | ||||
| Share-based compensation | 1,719 | 1,441 | 6,202 | 7,067 | ||||
| Litigation and other expenses | 666 | 601 | 2,971 | 7,786 | ||||
| Restructuring charges | 1,800 | 2,019 | 2,144 | 3,611 | ||||
| Provision for income taxes | 6,177 | 4,982 | 10,680 | 2,235 | ||||
| Adjusted EBITDA | $11,878 | 9.8% | $15,050 | 13.0% | $36,672 | 8.3% | $37,084 | 8.5% |
| (1) | The adjustments above reconcile our GAAP financial results to the non-GAAP financial measures used by us. Our non-GAAP net income excluded share-based compensation, and other non-recurring charges (recovery). Adjusted EBITDA was determined by excluding depreciation and amortization on property, plant and equipment and intangible assets, interest, provision for or benefit from income taxes, and non-GAAP pre-tax adjustments, as set forth above, from GAAP net income. We believe that the presentation of these non-GAAP items provides meaningful supplemental information to investors, when viewed in conjunction with, and not in lieu of, our GAAP results. However, the non-GAAP financial measures have not been prepared under a comprehensive set of accounting rules or principles. Non-GAAP information should not be considered in isolation from, or as a substitute for, information prepared in accordance with GAAP. Moreover, there are material limitations associated with the use of non-GAAP financial measures. |
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