VIAVI SOLUTIONS INC.

VIAVI Solutions Inc. announced a Fiscal 2026 restructuring plan in Q3 2026, aiming to improve operational efficiencies, align its workforce with strategic growth, and integrate recently acquired businesses. The plan involves a global workforce reduction of approximately 5% and is expected to generate annualized gross cost savings of about $30.0 million. The company operates in Network and Service Enablement (NSE) and Optical Security and Performance Products (OSP) segments, focusing on profitable growth, market leadership, and investments in secular trends like AI data centers and next-gen wireless networks.

VIAVI Solutions Inc. reported strong preliminary results for its fiscal fourth quarter and full fiscal year ended June 27, 2026. For Q4, net revenue increased 52.5% year-over-year to $443.1 million, and non-GAAP diluted EPS rose 161.5% to $0.34. For the full fiscal year 2026, net revenue grew 40.0% to $1.5 billion, with non-GAAP diluted EPS up 112.8% to $1.00. The company also announced a modification to its non-GAAP presentation, excluding employer payroll taxes related to stock-based compensation, and provided a positive outlook for Q1 fiscal 2027.

Viavi Solutions Inc. announced it entered into an underwriting agreement for a public offering of 11,111,111 shares of its common stock at $45.00 per share. The underwriters fully exercised an option to purchase an additional 1,666,666 shares. The company expects to receive approximately $557.2 million in net proceeds, which it intends to use primarily to repay a $450 million term loan facility, with any remaining funds allocated to working capital or general corporate purposes.

Viavi Solutions Inc. announced a rotation of its Audit Committee chairpersons and a new appointment to its Corporate Development Committee. Effective May 12, 2026, Joanne Solomon was appointed as the new Audit Committee Chair, succeeding Donald Colvin, who will continue to serve on the Board and Audit Committee. This change was part of board refreshment and succession planning. Additionally, Doug Gilstrap was appointed to the Corporate Development Committee.

VIAVI SOLUTIONS INC. reported a significant increase in total net revenue for both the three and nine months ended March 28, 2026, driven by product and service revenue growth. However, net income for the quarter decreased, and the company posted a net loss for the nine-month period, largely due to a loss on debt extinguishment and increased operating expenses. The company also highlighted two key acquisitions during the period: Spirent's high-speed ethernet, network security, and channel emulation testing business for $399.3M, and Inertial Labs, Inc. for $134.4M cash plus contingent consideration.

VIAVI Solutions Inc. reported preliminary results for its fiscal third quarter ended March 28, 2026, with net revenue increasing 42.8% year-over-year to $406.8 million and non-GAAP diluted EPS rising 80.0% to $0.27. The company exceeded expectations, driven by strong growth in the data center and aerospace and defense end markets. However, GAAP net income decreased 67.2% year-over-year to $6.4 million. For the fourth quarter of fiscal 2026, VIAVI expects net revenue between $427 million and $437 million and non-GAAP EPS between $0.29 and $0.31.