Financial Performance - Keysight generated $5.5 billion in revenue for the fiscal year 2023, an increase from $5.4 billion in 2022 and $4.9 billion in 2021[15]. - The backlog as of October 31, 2023, was approximately $2,290 million, down from $2,550 million a year earlier, due to revenue outpacing orders[82]. - The company does not currently pay dividends on its common stock, and future dividend payments will depend on various factors including financial condition and capital requirements[186]. - The company has not paid any dividends and does not anticipate paying cash dividends in the foreseeable future[205]. - The company’s financial condition and results of operations are subject to various uncertainties that could cause actual results to differ materially from expectations[212]. Research and Development - The company invested approximately 16% of its revenue in R&D, totaling $882 million in 2023[26]. - Keysight's R&D investments focus on developing first-to-market solutions and improving existing products to meet evolving industry requirements[54]. - The company is investing significantly in new technologies across communications, aerospace and defense, automotive, Internet of Things, and mobile industries[127]. Acquisitions and Strategic Initiatives - Keysight acquired Cliosoft Inc. in 2023 to enhance its design and intellectual property data management capabilities[27]. - In November 2023, Keysight acquired a controlling block of share capital of ESI Group SA to broaden its software capabilities[27]. - Keysight's strategy includes growing recurring revenue through increased software content and a dedicated global enterprise software sales force[28]. - The company is focused on integrating completed acquisitions and transitioning to lower-cost regions as part of its strategic direction[212]. Workforce and Diversity - The company employs approximately 14,900 employees globally, with a turnover rate of approximately 7.5% over the past three years, lower than the industry average[70]. - The average employee tenure at Keysight is 12.6 years, indicating a stable workforce and effective retention strategies[70]. - As of October 31, 2023, women represented 31% of the global workforce, while underrepresented minorities accounted for 44.4% of the U.S. workforce[75]. - In 2023, 33.9% of global external new hires were women, surpassing the goal of 33.6%, and 61.1% of external new hires in the U.S. were underrepresented minorities, exceeding the goal of 50.1%[76]. - At the senior executive level, 27.6% of positions were held by women and 31.8% by underrepresented minorities[75]. - The company has established a global Inclusion Council to help formulate inclusion goals and track progress[80]. - The company provides multiple avenues for employee input, including an Open-Door Policy and the MyVoice program[80]. - The company offers a comprehensive Employee Well Being program, including twelve free sessions with therapists and mental health coaches per year[81]. Manufacturing and Operations - Keysight's manufacturing operations are centralized in Penang, Malaysia, which is the largest facility, focusing on final assembly and calibration of sophisticated instruments[59]. - The company utilizes both in-house and contract manufacturers to maximize productivity and respond to market conditions[59]. - The company centralizes most accounting processes in India and Malaysia, which could affect operations if conditions in those countries change[116]. - The company has 134 operating facilities globally, primarily located in the United States, Malaysia, Japan, China, Germany, India, United Kingdom, Taiwan, Spain, Korea, Singapore, and Romania[193]. Market and Economic Conditions - Economic uncertainty, including inflation and potential recession, may adversely affect the company's operating results and financial condition[110]. - International operations are expected to continue representing a majority of total revenue, but there are risks associated with global economic conditions and trade restrictions[112]. - The company faces challenges in forecasting demand due to volatile economic environments, which could lead to reduced orders and increased pricing pressures[121]. - Increased geopolitical tensions and conflicts could lead to market instability and negatively impact the company's financial results[120]. - The company is actively managing risks associated with international operations, including potential sanctions and trade restrictions[114]. Compliance and Legal Risks - The company is subject to various regulations, including environmental, data privacy, and anti-corruption laws, which may impact operations and compliance costs[84][91][92]. - The company faces risks of civil or criminal actions and significant expenses if operations are found to be out of compliance with evolving laws and regulations[158]. - The company is involved in ongoing litigation regarding intellectual property rights, which could result in significant legal expenses and impact product sales[160]. - The company relies on various intellectual property rights to maintain its competitive position, and failure to enforce these rights could harm operating results[162]. - Cybersecurity attacks pose a risk to the company's IT systems, which could adversely affect business operations and financial condition[166]. - The company is subject to various international and local regulations, and failure to comply could result in substantial financial penalties and operational disruptions[171]. - The company must comply with anti-corruption laws, and violations could lead to fines, criminal sanctions, and damage to its brand and operations[176]. Stock and Shareholder Information - As of December 12, 2023, there are 16,230 shareholders of record for the company's common stock listed on the NYSE under the ticker symbol "KEYS"[203]. - The company’s stock price performance is tracked against the S&P 500 Index and the S&P 500 Information Technology Index, with historical performance not indicative of future results[204]. - A total of 4,913,548 shares of common stock were purchased during the fiscal year ended October 31, 2023[207]. - The stock repurchase program authorized the purchase of up to $1,500 million of the company's common stock, replacing a previous program of $1,200 million[208]. - The approximate dollar value of shares that may yet be purchased under the stock repurchase program is $923,835,624[208]. Environmental and Sustainability Initiatives - The company is committed to achieving net zero Scope 1 and Scope 2 emissions by the end of fiscal year 2040, which may involve significant costs and regulatory compliance[156]. - The company plans to reduce energy consumption through efficiency measures, investments in renewable energy, and purchasing certified offsets for residual emissions[156]. - The company has developed Scope 3 reduction and engagement targets, which were approved by the Science Based Target Initiative (SBTi) on October 27, 2023[156]. - Achieving net zero emissions may require substantial capital improvements and could increase manufacturing and shipping costs, potentially leading to price increases for customers[157]. - The company has significant exposure to potential liabilities from environmental contamination, which could impact future operations and financial condition[181].

Financial Performance - Total orders for the three and nine months ended July 31, 2023 were $1,244 million and $3,863 million, respectively, a decrease of 15% and 12% year-over-year [96]. - Revenue for the three and nine months ended July 31, 2023 was $1,382 million and $4,153 million, respectively, flat and an increase of 4% compared to the same periods last year [97]. - Net income for the three and nine months ended July 31, 2023 was $288 million and $831 million, respectively, compared to $338 million and $825 million for the same periods last year, reflecting a 15% decrease for the three months and a 1% increase for the nine months [98]. - Total revenue for the three months ended July 31, 2023 was $918 million, a decrease of 5% year-over-year, while revenue for the nine months ended July 31, 2023 was $2,794 million, down 1% year-over-year [125]. - Total revenue for the three months ended July 31, 2023, was $464 million, a 14% increase year-over-year, while revenue for the nine months was $1,359 million, up 17% from the previous year [135]. Margins - Gross margin for the three months ended July 31, 2023 was 64.8%, an increase of 1 percentage point compared to the same period last year, while the nine-month gross margin was 64.7%, also up 1 percentage point [107]. - Operating margin for the three and nine months ended July 31, 2023 increased by 1 percentage point to 26.4% and 25.1%, respectively, compared to the same periods last year [111]. - Gross margin for the three months ended July 31, 2023 was 67.6%, an increase of 1 percentage point year-over-year, while the nine-month gross margin was 67.7%, also up 1 percentage point [128]. - Operating margin for the three months ended July 31, 2023 was flat year-over-year at 30.0%, while the nine-month operating margin increased by 1 percentage point to 29.0% [132]. - Operating margin for the three months ended July 31, 2023, improved to 33.9%, an increase of 3 percentage points compared to the same period last year [140]. Expenses - Research and development (R&D) expenses for the three and nine months ended July 31, 2023 were $215 million and $664 million, representing increases of 4% and 6% year-over-year [103]. - R&D expenses for the three and nine months ended July 31, 2023 increased by 1% and 3%, respectively, driven by investments in key growth opportunities [129]. - Selling, general and administrative expenses decreased by 6% for the three months ended July 31, 2023, and by 1% for the nine months ended July 31, 2023, primarily due to lower selling costs [130]. - Selling, general and administrative expenses for the three months ended July 31, 2023, rose by 8% compared to the same period last year, driven by higher selling costs [138]. Cash Flow and Investments - Net cash provided by operating activities for the nine months ended July 31, 2023, was $1,030 million, an increase of $284 million compared to the same period last year [142]. - Net cash used in investing activities increased to $250 million for the nine months ended July 31, 2023, compared to $190 million in the same period last year [142]. - Cash, cash equivalents, and restricted cash as of July 31, 2023, totaled $2,588 million, up from $2,057 million as of October 31, 2022 [149]. - The company expects capital spending to be approximately $215 million in 2023, primarily for capacity expansion and technology investments [154]. Market Segments - The Communications Solutions Group and the Electronic Industrial Solutions Group represented 66% and 34% of total revenue for the three months ended July 31, 2023, respectively [97]. - The Communications Solutions Group revenue decreased 5% and 1% for the three and nine months ended July 31, 2023, respectively, with a 12% decline in the commercial communications end market [126]. - The aerospace, defense, and government end market revenue increased 11% and 8% for the three and nine months ended July 31, 2023, respectively, representing 33% of total Communications Solutions Group revenue [127]. Future Outlook - The company anticipates continued R&D investments in next-generation technologies, including 5G, early 6G, AI-ML network modeling, and industrial IoT [99]. - The company continues to invest in technologies supporting 5G, including Open Radio Access Networks and early 6G research, despite cautious customer spending across the communications ecosystem [125]. - The company announced an intention to acquire ESI Group SA for €913 million, expected to be funded with existing cash [151]. Other Income - Interest income for the three and nine months ended July 31, 2023 was $29 million and $70 million, respectively, compared to $4 million and $6 million for the same periods last year, marking increases of 599% and 1113% [112]. - Other income for the three and nine months ended July 31, 2023 was $14 million and $28 million, respectively, compared to $5 million and $15 million for the same periods last year, primarily driven by net gains on equity investments [113]. Workforce - As of July 31, 2023, the company's headcount was approximately 14,800, an increase from approximately 14,700 at July 31, 2022 [114].

Guidance and Financial Considerations | --- | --- | --- | |-----------------------------|-------------------|--------------------------| | | Q4'23 Guidance | 2023 Guidance (midpoint) | | Revenue | $1.29B – $1.31B | $5.45B | | Non-GAAP Earnings per share | $1.83 – $1.89 | $8.19 | | --- | |-------------------------------------------------------------------------------------------| | | | FY23 Financial Considerations | | • Q4'23 Net Interest and Other Income/Expense: $15M net income | | • Non-GAAP tax rate of ...

Table of Contents 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. FOR THE QUARTERLY PERIOD ENDED APRIL 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 001-36334 KEYSIGHT TECHNOLOGIES, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) (State or other ju ...

A KEYSIGHT This communication contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created therein. Statements preceded by, followed by, or that otherwise include the words "anticipate," "assume," "plan," "estimate," "expect," "guidance," "intend," "implied," "target," "believe," "outlook," and similar words or expressions, or future or conditional verbs ...

Keysight Technologies, Inc. (NYSE:KEYS) Q2 2023 Earnings Conference Call May 16, 2023 4:30 PM ET Company Participants Jason Kary - Vice President, Treasurer, and Investor Relations Satish Dhanasekaran - President and Chief Executive Officer Neil Dougherty - Chief Financial Officer Mark Wallace - Chief Customer Officer Conference Call Participants Samik Chatterjee - J.P. Morgan Mehdi Hosseini - Susquehanna Chris Snyder - UBS Aaron Rakers - Wells Fargo Meta Marshall - Morgan Stanley Adam Thalhimer - Thompson ...

Table of Contents COMMISSION FILE NUMBER: 001-36334 (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR WASHINGTON, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. FORM 10-Q FOR THE TRANSITION PERIOD FROM TO KEYSIGHT TECHNOLOGIES, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) (State or other ...

Keysight Technologies, Inc. (NYSE:KEYS) Q1 2023 Results Conference Call February 21, 2023 4:30 PM ET Company Participants Jason Kary - VP, Treasurer and IR Satish Dhanasekaran - President and CEO Neil Dougherty - CFO Mark Wallace - SVP, Global Sales and Chief Customer Officer Conference Call Participants Mark Delaney - Goldman Sachs Mehdi Hosseini - SIG Meta Marshall - Morgan Stanley Samik Chatterjee - JP Morgan Chris Snyder - UBS Aaron Rakers - Wells Fargo Jim Suva - Citigroup Matthew Niknam - Deutsche Ban ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________ Form 10-K _____________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36334 KEY ...

Keysight Technologies, Inc. (NYSE:KEYS) Q4 2022 Results Conference Call November 17, 2022 5:00 PM ET Company Participants Jason Kary - Vice President, Treasurer and Investor Relations Satish Dhanasekaran - President and Chief Executive Officer Neil Dougherty - Chief Financial Officer Mark Wallace - Senior Vice President, Global Sales and Chief Customer Officer Conference Call Participants Angela Zhang - J.P. Morgan Chris Snyder - UBS Mehdi Hosseini - SIG Matthew Niknam - Deutsche Bank Aaron Rakers - Wells ...