VIAVI SOLUTIONS INC.

Listed Company

VIAVCIK 0000912093NasdaqLarge AcceleratedSemiconductors & Related DevicesDelawareFY ends Jun 27

Period

FY 2025

Revenue

$1.08B

Net Income

$34.80M

Total Assets

$1.99B

Equity

$780.20M

Shares Out

233.91M

Op. Cash Flow

$89.80M

Business

VIAVI Solutions Inc. is a global provider of network test, monitoring and assurance solutions and optical processing technologies for telecommunications, cloud, enterprises, first responders, military, aerospace and critical infrastructure. It offers a portfolio of test instruments, monitoring and AIOps software, fiber and wireless test products, resilient PNT and aerospace test equipment, optical variable pigments and magnetic pigments, 3D sensing filters, engineered diffusers and spectrometers. VIAVI operates two reportable segments: Network and Service Enablement (NSE) and Optical Security and Performance Products (OSP). The company sells directly to service providers, network equipment manufacturers, OEMs, governments, enterprises and through channels, distributors and strategic partners worldwide.

Summary from filing dated 2025-08-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Total net revenue	1,084	1,000	1,106	1,292	1,199
Amortization of acquired technologies	20	14	25	30	33
Total cost of revenues	463	425	467	519	485
Gross profit	621	576	639	774	714
Research and development	209	202	207	213	203
Selling, general and administrative	349	333	329	366	338
Amortization of other intangibles	5	6	9	10	33
Restructuring and related charges	700,000	14	12	−100,000	−2
Total operating expenses	564	555	556	589	572
Income from operations	58	21	82	185	142
Loss on convertible note modification	0	0	−2	—	—
Interest and other income, net	11	22	8	5	3
Interest expense	−30	−31	−27	−23	—
Income before income taxes and equity investment earnings	39	12	61	—	—
Provision for income taxes	4	37	35	50	63
Equity investment earnings	600,000	0	0	—	—
Net income (loss)	35	−26	26	16	68
Basic (usd per share)	0.16	−0.12	0.11	0.07	0.3
Diluted (usd per share)	0.15	−0.12	0.11	0.07	0.29
Basic (in shares)	223	223	225	231	229
Diluted (in shares)	226	223	227	238	236

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	424	471	507	560	698
Short-term investments	2	20	15	1	2
Restricted cash	4	5	5	4	4
Accounts receivable, net	261	213	231	261	257
Inventories, net	118	97	116	110	95
Prepayments and other current assets	77	71	72	69	57
Total current assets	885	877	945	1,005	1,112
Property, plant and equipment, net	232	228	243	229	196
Goodwill, net	596	453	455	388	397
Intangibles, net	132	38	59	54	88
Deferred income taxes	87	83	87	86	109
Other non-current assets	62	58	62	66	60
Total assets	1,994	1,736	1,851	1,828	1,961
Accounts payable	69	50	47	58	63
Accrued payroll and related expenses	64	48	51	76	76
Deferred revenue	74	66	79	81	70
Accrued expenses	29	25	21	29	25
Short-term debt	246	0	96	68	457
Other current liabilities	108	58	50	56	57
Total current liabilities	590	247	344	369	747
Long-term debt	396	636	630	617	224
Other non-current liabilities	228	172	187	170	226
Total liabilities	1,214	1,055	—	—	—
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred stock, $0.001 par value; 1 million shares authorized, no shares issued or outstanding at June 28, 2025 and June 29, 2024	0	0	0	0	0
Common stock, $0.001 par value; 1 billion shares authorized; 223 million shares at June 28, 2025 and 222 million shares at June 29, 2024, issued and outstanding	200,000	200,000	200,000	200,000	200,000
Additional paid-in capital	70,518	70,472	70,427	70,370	70,183
Accumulated deficit	−69,628	−69,647	−69,601	−69,542	−69,322
Accumulated other comprehensive loss	−110	−144	−136	−156	−97
Total stockholders equity	780	682	691	672	764
Total liabilities and stockholders equity	1,994	1,736	1,851	1,828	1,961

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation expense	38	39	36	36	36
Amortization of acquired technologies and other intangibles	24	20	33	40	67
Stock-based compensation	53	49	51	52	48
Amortization of debt issuance costs and accretion of debt discount	7	8	4	3	2
Net change in fair value of contingent liabilities	−8	−10	−5	0	−5
Deferred taxes, net	−28	300,000	5	−11	—
Amortization of acquisition related inventory step-up	4	0	0	—	—
Restructuring	700,000	14	12	0	0
Gain on legal settlement	0	0	−7	0	0
Other	−6	6	6	4	3
Accounts receivable	−34	14	37	−18	−15
Inventories	−8	11	−11	−28	−14
Other current and non-currents assets	−4	−2	10	−11	15
Accounts payable	15	3	−9	−6	7
Income taxes payable	−6	2	−2	−18	18
Deferred revenue, current and non-current	8	−9	−2	13	12
Accrued payroll and related expenses	13	−5	−26	3	23
Accrued expenses and other current and non-current liabilities	−14	3	−47	1	−21
Net cash provided by operating activities	90	116	114	178	243
Purchases of short-term investments	−149	−225	−13	0	0
Maturities of short-term investments	168	220	0	0	—
Acquisitions, net of cash acquired and other	−121	0	−67	−8	−700,000
Purchase price adjustment related to business acquisition	−700,000	0	−700,000	0	0
Capital expenditures	−28	−20	−51	−73	−52
Proceeds from the sale of assets	5	3	5	10	4
Other investing activities	−3	0	0	—	—
Net cash used in investing activities	−128	−22	−127	−71	−49
Proceeds from issuance of debt	0	0	118	400	0
Payment of debt issuance costs	0	0	−4	−11	−100,000
Repurchase and retirement of common stock	−16	−20	−84	−236	−42
Payment of financing obligations	−200,000	−200,000	−100,000	−100,000	−1
Retirement of convertible notes upon maturity	0	−96	−68	0	0
Proceeds from exercise of employee stock options and employee stock purchase plan	6	6	8	8	7
Withholding tax payment on vesting of restricted stock awards	−13	−11	−12	−14	−18
Payment of acquisition related contingent consideration and obligations	0	−4	−8	−6	−4
Other financing activities	200,000	0	0	—	—
Net cash used in financing activities	−24	−126	−50	−210	−59
Effect of exchange rates on cash, cash equivalents and restricted cash	13	−3	6	−32	25
Net decrease in cash, cash equivalents and restricted cash	−50	−34	−57	−136	161
Cash paid for interest	23	24	22	18	12
Cash paid for income taxes, net of refunds	30	31	48	77	37

Filings

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