Aviat Networks, Inc. (NASDAQ:AVNW) Q1 2025 Earnings Call Transcript November 5, 2024 4:30 PM ET Company Participants Andrew Fredrickson - Director of IR Pete Smith - President and CEO Michael Connaway - CFO Conference Call Participants Jaeson Schmidt - Lake Street Scott Searle - Roth Capital Partners Theodore O’Neill - Litchfield Hills Research Tim Savageaux - Northland Capital Markets Operator Good afternoon, welcome to Aviat Networks’ First Quarter Fiscal 2025 Earnings Call. At this time, all participants ...

Aviat Networks Investor Presentation Fiscal Q1 2025 November 5, 2024 Forward-Looking Statements The information contained in this presentation includes forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including Aviat's outlook, business conditions, new product solutions, customer positioning, future orders, bookings, new contracts, cost structure, profitability in fiscal 2025, its recent acquisitions and acquisition str ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class Trading Symbol(s) Name of each exchange on which Registered Common Stock AVNW The Nasdaq Stock Market LLC Preferred Share Purchase Rights The Nasdaq Stock Market LLC For the quarterly period ended September 27, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF TH ...

www.aviatnetworks.com Aviat Networks Announces Fiscal 2024 Fourth Quarter and Twelve Months Financial Results Fourth Quarter Total Revenue of $116.7 million; Up 28.1% Year-Over-Year Fourth Quarter Adjusted EBITDA of $11.9 million Cash from Operations of $8.3 million in fourth quarter, $30.5 million for full year AUSTIN, Texas, October 4, 2024 -- Aviat Networks, Inc. ("Aviat Networks," "Aviat," or the "Company"), (Nasdaq: AVNW), the leading expert in wireless transport and access solutions, today reported fi ...

Total Revenue of $88.4 million; Up 1.7% Year-Over-YearAdjusted EBITDA of $(7.7) millionNon-GAAP Diluted Earnings per Share of $(0.87)AUSTIN, Texas, Nov. 5, 2024 /PRNewswire/ -- Aviat Networks, Inc. ("Aviat Networks," "Aviat," or the "Company"), (Nasdaq: AVNW), the leading expert in wireless transport and access solutions, today reported financial results for its fiscal 2025 first quarter ended September 27, 2024.First Quarter Highlights Continued to gain share of demand in North America based on FCC filing ...

AUSTIN, Texas, Nov. 1, 2024 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW), the leading expert in wireless transport and access solutions, announced today that it will release its first quarter fiscal 2025 financial results for the period ended September 27, 2024, on November 5, 2024, after the market closes.The Company will host an earnings conference call and webcast to discuss its financial and operational results on the same day, beginning at 4:30 p.m. ET. Participating on the call will be Pete Smi ...

On October 4, 2024, Aviat Networks (AVNW, Financial), a leading player in wireless transport solutions, unveiled its Q4 earnings results, which blew past analysts' expectations on both the top and bottom lines. Following the earnings release, shares of the company soared around 16% in multiple trading sessions on the same day.Aviat reported strong revenue growth of 28%, reaching $116.7 million, led by increased demand for its wireless networking products. The company's innovative products and services have ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $117 million, representing a 28% increase compared to Q4 2023 [6][16] - For the full fiscal year 2024, total revenue reached $408 million, a 19% growth year-over-year [6][17] - Adjusted EBITDA for Q4 was $12 million, with non-GAAP EPS at $0.72 [6][21] - Gross margins for Q4 were 35.3% on a GAAP basis and 35.9% on a non-GAAP basis, compared to 35.9% and 36.2% respectively in the prior year [18] Business Line Data and Key Metrics Changes - Revenue from Pasolink was $25 million in Q4, a 12% increase from Q3 2024 [6][8] - Non-GAAP gross margins for Pasolink were 26% in Q4, showing improvement due to scale and cost benefits [18] - Revenue from private networks in North America increased, contributing to overall growth despite challenges in U.S. Tier 1 spending [10][12] Market Data and Key Metrics Changes - North America accounted for 48% of total revenue in Q4, with revenues of $56.2 million, a 2.5% increase year-over-year [16] - International revenue for Q4 was $60.5 million, a 67% increase from the same period last year [17] - The backlog at the end of fiscal year 2024 was $292 million, slightly up from $289 million the previous year [17] Company Strategy and Development Direction - The acquisition of Pasolink has strengthened Aviat's product portfolio and international business, enhancing profitability and market reach [7][8] - The company is focused on modernizing public safety networks in the U.S., anticipating growth driven by government budgets and ARPA funding [11] - The recent acquisition of 4RF is expected to open new markets and enhance Aviat's offerings in private networks [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of private networks, citing healthy state and local government budgets for fiscal 2025 [11] - The company anticipates a gradual ramp-up in revenue throughout fiscal 2025, with Q1 expected to be the lowest in terms of revenue and profitability [24][29] - Management acknowledged challenges in U.S. Tier 1 spending but remains optimistic about opportunities in international markets, particularly in India [12][30] Other Important Information - The company reported a material weakness related to key accounting personnel turnover, which has been addressed with improvements in internal controls [13][14] - Cash and marketable securities increased by $5.4 million to $64.6 million, with a net cash position of $16.3 million at the end of Q4 [21] Q&A Session Summary Question: Update on material weakness and historic restatement - Management indicated that the material weakness was driven by personnel turnover and ineffective controls, with plans to remediate within the year [25][26] - The financial statement revision was due to a services contract and a distributor arrangement that did not meet revenue recognition criteria [27] Question: Guidance for fiscal 2025 and visibility into Q1 - Q1 is expected to be the lowest quarter for revenue and profitability, with projected revenues in the range of $93 million to $99 million [29] - Management noted that if certain projects materialize, guidance could be adjusted positively [30] Question: Trends in private networks and mobile 5G business - Private networks revenue was the highest in three years, with favorable trends in market share [44] - U.S. Tier 1 spending is muted, but opportunities in Pasolink Tier 1s remain favorable [45] Question: Impact of restatement on buyback program - Management expressed a willingness to lean into share buybacks, but noted challenges due to quiet periods [46][47]

On October 4, 2024, Aviat Networks Inc (AVNW, Financial) released its 8-K filing detailing the financial results for its fiscal 2024 fourth quarter and full year ended June 28, 2024. Aviat Networks Inc, a leading provider of wireless networking solutions, reported a significant increase in revenue, driven by strategic acquisitions and robust international sales. Company Overview Aviat Networks Inc is a prominent player in the networking solutions industry, specializing in the design, manufacture, and sale o ...

AUSTIN, Texas, Oct. 4, 2024 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW), the leading expert in wireless transport and access solutions, announced today that it will host an earnings conference call and webcast to discuss its financial and operational results on October 7, 2024, beginning at 8:30 a.m. ET. Participating on the call will be Pete Smith, President and Chief Executive Officer, and Michael Connaway, Chief Financial Officer. Interested parties may access the conference call live via the web ...