<span item_type="fundamental" item_id="0bb16cae51d7fb866e383cd5933f1b99" counter_id="ST/US/AVNW" env="prod"></span><span item_type="announcement" item_id="644750696511771521" env="prod"></span><p>Revenue: As of FY2026 Q3, the actual value is USD 100 M, missing the estimate of USD 106.4 M.</p><p>EPS: As of FY2026 Q3, the actual value is USD -0.16, missing the estimate of USD 0.21.</p><p>EBIT: As of FY2026 Q3, the actual value is USD -461 K.</p><p></p><h4>Revenue</h4><p>Aviat Networks, Inc. reported total revenues for the fiscal 2026 third quarter of $100.0 million, marking an 11.2% decrease from $112.6 million in the fiscal 2025 third quarter. North America revenue for the quarter was $46.2 million, a 6.6% decrease from $49.4 million in the prior year, primarily due to project timing. International revenue was $53.8 million, a 14.9% decrease from $63.2 million, attributed to mobile network operator capital expenditure timing and revenue delays from the Middle East conflict <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><p>For the nine months ended March 27, 2026, total revenue decreased by 0.1% to $318.8 million, compared to $319.3 million in the same period of fiscal 2025. North America revenue for this nine-month period increased by 1.4% to $151.7 million from $149.6 million in fiscal 2025. International revenue decreased by 1.5% to $167.1 million from $169.7 million in the comparable period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><h4>Gross Margin</h4><p>GAAP gross margin for the fiscal 2026 third quarter was 29.3%, a decrease of 560 basis points compared to 34.9% in the fiscal 2025 third quarter. Non-GAAP gross margin was 29.4%, a decrease of 640 basis points from 35.8% in the prior year, mainly due to regional and product mix <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><p>For the nine months ended March 27, 2026, GAAP gross margin was 31.7%, an increase of 40 basis points from 31.3% in the same period of fiscal 2025. Non-GAAP gross margin remained flat at 32.1% compared to the prior year’s nine-month period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><h4>Operating Expenses</h4><p>GAAP total operating expenses in the fiscal 2026 third quarter were $28.3 million, down from $30.0 million in the fiscal 2025 third quarter. Non-GAAP total operating expenses were $26.4 million, a decrease of $0.8 million or 3.1% from $27.2 million in the prior year <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><p>For the nine months ended March 27, 2026, GAAP total operating expenses were $87.6 million, a decrease of $10.6 million or 10.8% from $98.3 million in the same period of fiscal 2025. Non-GAAP total operating expenses for this period were $81.9 million, a decrease of $4.5 million or 5.2% from $86.4 million in the prior year <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><h4>Operating Income</h4><p>GAAP operating income for the fiscal 2026 third quarter was $0.9 million, a decrease of $8.4 million from $9.3 million in the fiscal 2025 third quarter, mainly due to lower gross margin dollars. Non-GAAP operating income was $3.0 million, a decrease of $10.1 million from $13.0 million in the prior year <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><p>For the nine months ended March 27, 2026, GAAP operating income was $13.4 million, an increase of $11.7 million from $1.7 million in the comparable fiscal 2025 period. Non-GAAP operating income for the nine-month period was $20.5 million, an increase of $4.4 million from $16.1 million in the same period of fiscal 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><h4>Net Income</h4><p>GAAP net loss for the fiscal 2026 third quarter was -$2.1 million, compared to GAAP net income of $3.5 million in the fiscal 2025 third quarter. On a non-GAAP basis, net income was $0.7 million, down from $11.3 million in the prior year <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><p>For the nine months ended March 27, 2026, GAAP net income was $3.8 million, compared to a GAAP net loss of -$3.9 million in the comparable fiscal 2025 period. Non-GAAP net income for this period was $13.3 million, an increase from $10.6 million in the comparable fiscal 2025 period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><h4>Adjusted EBITDA</h4><p>Adjusted EBITDA for the fiscal 2026 third quarter was $4.4 million, compared to $14.9 million in the fiscal 2025 third quarter. For the nine months ended March 27, 2026, Adjusted EBITDA was $24.8 million, an increase of $2.8 million from $22.0 million in the comparable fiscal 2025 period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><h4>Balance Sheet Highlights</h4><p>Cash and cash equivalents increased by $18.4 million to $78.1 million as of March 27, 2026, from $59.7 million as of June 27, 2025. Total debt increased by $16.7 million to $104.3 million as of March 27, 2026, from June 27, 2025. Net debt was $26.1 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><h4>Operational Metrics</h4><p>The company maintained a trailing-twelve month book-to-bill ratio greater than 1.0 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p><h4>Outlook / Guidance</h4><p>Aviat Networks, Inc. updated its fiscal 2026 full-year guidance, projecting revenues between $428 million and $440 million. The company also expects full-year Adjusted EBITDA to be between $35.0 million and $40.0 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1377789/000162828026029801/fy26q3pressrelease.htm"></span>.</p>

Aviat Network | 8-K: FY2026 Q3 Revenue Misses Estimate at USD 100 M