Viavi Solutions Inc. · NASDAQ:VIAV
Viavi Solutions — Q4 2026 Earnings Presentation
22 slides from Viavi Solutions's earnings presentation, Aug 5, 2026
Slide 1: Fiscal Q4 2026 Earnings Call Supplementary Slides
Fiscal Q4 2026 Earnings Call Supplementary Slides August 5, 2026
Slide 2: Cautionary Language Concerning Forward-Looking Statements
Cautionary Language Concerning Forward-Looking Statements This presentation contains forward-looking statements under Section 27A of the Securities Act of 1934. Forward-looking statements are all statements we make other than those dealing specifically with historical matters. These forward-looking
Slide 3: Fiscal 2026 Summary and Key Highlights
Fiscal 2026 Summary and Key Highlights (Amounts in $millions, except per share amounts, and other than revenue reflect non-GAAP) KEY METRICS HIGHLIGHTS ■ Revenue growth was mainly driven by: Revenue ■ Demand for lab and production and field products, primarily from the data center ecosystem. $1,518.
Slide 4: Q4 2026 Summary and Key Highlights
Fiscal Q4 2026 Summary and Key Highlights (Amounts in $millions, except per share amounts, and other than revenue reflect non-GAAP) KEY METRICS HIGHLIGHTS ■ Revenue, non-GAAP Operating Margin above the Revenue high end of the guidance range. $443.1M 52.5% Y/Y ■ Non-GAAP EPS above the high end of the
Slide 5: Capital Allocation Activities
Capital Allocation Activities ■ Raised gross proceeds of $575M via follow on public offering of VIAVI stock. ■ Issued ~12.78M shares at $45 per share. ■ Proceeds used to pay off the $450M of outstanding principal amount of Term Loan B. ■ Excess net proceeds will be used to fund working capital or fo
Slide 6: Q4 2026 NSE Highlights
Fiscal Q4 2026 NSE Highlights (Amounts in $millions and other than revenue reflect non-GAAP) NSE HIGHLIGHTS ■ Revenue at $353.9 million, above the high end of our Revenue guidance range of $340-$348 million, up 69.2% Y/Y $353.9M 69.2% Y/Y driven by: ■ Strong demand for lab and production and field p
Slide 7: Q4 2026 OSP Highlights
Fiscal Q4 2026 OSP Highlights (Amounts in $millions and other than revenue reflect non-GAAP) OSP HIGHLIGHTS ■ Revenue at $89.2 million, at the high end of guidance Revenue range of $87 to $89 million and increased 9.6% Y/Y, $89.2M 9.6% Y/Y primarily driven by strength in anticounterfeiting and other
Slide 8: Q1 2027 Business Outlook
Fiscal Q1 2027 Business Outlook SEGMENT BUSINESS OUTLOOK VIAVI $450 million to $460 million Revenue NSE $360 million to $368 million OSP $90 million to $92 million VIAVI 27.1%, plus or minus 40 bps Non-GAAP Operating Margin NSE 23.1%, plus or minus 50 bps OSP 43.2%, plus or minus 20 bps Non-GAAP EPS
Slide 9: Q1 2027 Events
Fiscal Q1 2027 Events DATE EVENT LOCATION Aug 17, 2026 Rosenblatt 6th Annual Technology Summit Virtual Aug 24, 2026 Stifel Tech Executive Summit 2026 Deer Valley, UT Sep 21-23, 2026 ECOC Malaga, Spain VIAVI//Public © 2026 Viavi Solutions Inc. 9
Slide 10: Additional Financial Information
Additional Financial Information
Slide 11: Q4 2026 Financial Highlights
Fiscal Q4 2026 Financial Highlights (Amounts in $millions, except per share amounts) FISCAL QUARTER Q4 2026 Q3 2026 Q4 2025 QOQ YOY GAAP Revenue NSE $353.9 $321.5 $209.1 10.1% 69.2% OSP $89.2 $85.3 $81.4 4.6% 9.6% Total $443.1 $406.8 $290.5 8.9% 52.5% Non-GAAP Gross Margin NSE 64.1% 65.3% 62.2% (120
Slide 12: Revenue by Business Segment and Geographic Region
Revenue by Business Segment and Geographic Region (Amounts in $millions) FISCAL QUARTER Q4 2026 Q3 2026 Q4 2025 QOQ YOY Segment Mix NSE $353.9 79.9% $321.5 79.0% $209.1 72.0% 10.1% 69.2% OSP $89.2 20.1% $85.3 21.0% $81.4 28.0% 4.6% 9.6% Total $443.1 100.0% $406.8 100.0% $290.5 100.0% 8.9% 52.5% Regi
Slide 13: Balance Sheet Highlights
Balance Sheet Highlights (Amounts in $millions) FISCAL QUARTER Q4 2026 Total Cash Balance (1) $656.7 Short-term Debt (Carrying Value) (2) $244.8 Long-term Debt (Carrying Value) (3) $397.1 GAAP Cash from Operations $66.7 (1) Includes cash and cash-equivalents, short-term investments and short-term re
Slide 14: Term Notes Summary
Term Notes Summary 2029 HIGH-YIELD NOTES 2031 SENIOR CONVERTIBLE NOTES Issue Size $400.0M $250.0M Current Outstanding * $400.0M $250.0M Coupon 3.75% 0.625% Final Maturity 10/1/2029 3/1/2031 Put Date N/A N/A Call Date 10/1/2024 9/6/2028 Call / Put Price (%) N/A 100% Conversion Price N/A $13.79 Shares
Slide 15: Income Statement
Income Statement (Amounts in $millions, except per share amounts) FISCAL QUARTER Q4 2026 Q3 2026 Q4 2025 QOQ YOY GAAP Revenue $443.1 $406.8 $290.5 8.9% 52.5% Non-GAAP Gross Margin 62.3% 62.2% 60.1% 10 bps 220 bps Non-GAAP Operating Expenses $169.8 $166.6 $132.6 1.9% 28.1% Non-GAAP Operating Profit $
Slide 16: GAAP Income Statement
GAAP Income Statement (Amounts in $millions, except per share amounts) UNAUDITED Q4 2026 Q3 2026 Q4 2025 QOQ YOY GAAP INCOME STATEMENT Net revenue $ 443.1 $ 406.8 $ 290.5 8.9 % 52.5 % Cost of revenues 168.4 159.7 120.2 5.4 % 40.1 % Amortization of acquired technologies 13.0 13.0 6.8 —% 91.2 % Total
Slide 17: Non-GAAP Income Statement
Non-GAAP Income Statement (Amounts in $millions, except per share amounts) UNAUDITED Q4 2026 Q3 2026 Q4 2025 QoQ YoY NON-GAAP INCOME STATEMENT Net revenue $ 443.1 $ 406.8 $ 290.5 8.9 % 52.5 % Cost of revenues 166.9 153.8 116.0 8.5 % 43.9 % Gross profit 276.2 253.0 174.5 9.2 % 58.3 % Operating expens
Slide 18: Appendix
Appendix —_—
Slide 19: Reconciliation of GAAP Measures to Non-GAAP Measures
Reconciliation of GAAP Measures to Non-GAAP Measures (Amounts in $millions) UNAUDITED Q4 2026 Q3 2026 Q4 2025 QOQ YOY Gross Profit - GAAP to Non-GAAP Reconciliation GAAP segment gross profit $ 261.7 $ 234.1 $ 163.5 11.8 % 60.1 % Stock-based compensation 1.2 1.1 1.2 9.1 % —% Employer payroll tax on e
Slide 20: Financial Information by Segment
Financial Information by Segment (Amounts in $millions and other than revenue reflect non-GAAP) UNAUDITED Q4 2026 Q3 2026 Q4 2025 QOQ YOY SEGMENT RESULTS ($ in millions) Net revenue: Network and Service Enablement $ 353.9 $ 321.5 $ 209.1 10.1 % 69.2 % Optical Securities and Performance Products 89.2
Slide 21: Condensed Balance Sheet
Condensed Balance Sheet (Amounts in $millions) UNAUDITED Q4 2026 Q4 2025 BALANCE SHEET (in millions) ASSETS Current assets: Cash and cash equivalents $ 647.8 $ 423.6 Short-term investments 2.0 1.7 Restricted cash 6.9 3.7 Accounts receivable, net 351.3 261.0 Inventories, net 155.3 117.9 Prepayments a
Slide 22: VIAVI Solutions
VIAN I VIAVI Solutions viavisolutions.com