Core Viewpoint - Viavi Solutions Inc. will announce its fiscal second quarter 2026 financial results on January 28, 2026, after market close [1]. Group 1: Financial Results Announcement - The financial results will cover the period ended December 27, 2025 [1]. - An earnings call will be hosted at 1:30 p.m. PT / 4:30 p.m. ET on the same day [2]. - A live webcast of the earnings call and its replay will be available on the VIAVI website [2]. Group 2: Participation Details - Telephone participation can be done via a toll-free dial-in number: 1 (800) 715-9871 or a toll dial-in number: 1 (646) 307-1963 [3]. - The conference ID for the call is 3072689 [3]. - A replay of the call will be available from January 28, 2026, 4:30 p.m. PT to February 11, 2026, 8:59 p.m. PT [3]. Group 3: Company Overview - VIAVI Solutions is a global provider of network test, monitoring, and assurance solutions for various sectors including telecommunications, cloud, and military [4]. - The company is also a leader in light management technologies for applications in 3D sensing, anti-counterfeiting, and consumer electronics [4]. - More information about VIAVI can be found on their official website [4].

Core Insights - VIAVI Solutions Inc. has announced enhancements to its XEdge cloud-based edge monitoring and assurance platform, focusing on improved data collection capabilities for private 4G, 5G, and Wi-Fi networks at the edge [1][2]. Group 1: Product Enhancements - The enhanced XEdge portfolio now supports multiple sensor types, allowing customers to scale deployments based on monitoring needs, site density, and operational constraints [2]. - XEdge v2 is a portable, multi-carrier unit designed for comprehensive monitoring, supporting up to four cellular modems for high-capacity data collection [5]. - XEdge Lite is a compact sensor for fixed installation, supporting a single cellular modem for targeted, always-on monitoring across private networks, available in standard and ruggedized forms [5]. Group 2: Operational Features - XEdge provides continuous visibility into device connectivity and network performance through unattended edge sensors, centralized cloud dashboards, and automated analytics [2]. - The platform is designed for minimal daily management and does not require specialized network expertise, supporting remote control and automated 24/7 monitoring [3]. - Customizable reporting and multi-site scalability make XEdge suitable for enterprises, system integrators, and private network operators [3]. Group 3: Market Positioning - The enhancements aim to ensure reliability and user experience across diverse environments, including campuses, factories, transport hubs, remote sites, and secure zones [3]. - VIAVI Solutions is positioned as a global provider of network test, monitoring, and assurance solutions across various sectors, including telecommunications and aerospace [4].

Core Viewpoint - Viavi Solutions Inc. has shown a significant annual stock price increase of 77.87%, despite a slight monthly decrease of 1.97%, leading to questions about potential overvaluation [1]. Group 1: Stock Performance - The current share price of Viavi Solutions is $17.64, reflecting a 3.13% increase in the current market session [1]. - Over the past month, the stock has decreased by 1.97%, but it has increased by 77.87% over the past year [1]. Group 2: P/E Ratio Analysis - Viavi Solutions has a P/E ratio of 285.17, which is significantly higher than the aggregate P/E ratio of 69.25 for the Communications Equipment industry [4]. - A higher P/E ratio may suggest that Viavi Solutions is expected to perform better in the future compared to its industry peers, although there are indications that the stock may be overvalued [4][5]. Group 3: Limitations of P/E Ratio - The P/E ratio is a useful metric for assessing market performance but has limitations; a lower P/E can indicate undervaluation or lack of expected future growth [7]. - It is advised that the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles also influence stock prices [7].

Core Insights - VIAVI Solutions Inc. has integrated a new Augmented Reality (AR) solution called RF Viewer into its OneAdvisor 800 Wireless test platform, aimed at enhancing user interaction with radio frequency (RF) signals in various applications such as telecommunications and smart building design [1][4] Group 1: Product Features and Benefits - RF Viewer, developed in collaboration with Verizon Wireless, provides real-time visibility of RF emissions by overlaying signal strength data onto a live video feed, making RF analysis more accessible [2][3] - Key features of RF Viewer include live AR overlays of RF signal strength, real-time diagnostics for troubleshooting, and a user-friendly interface suitable for both professionals and non-experts [3] - The integration of RF Viewer into the OneAdvisor 800 Wireless enhances its capabilities, which include spectrum analysis, interference detection, and support for the evolution towards 5G Advanced and 6G technologies [4] Group 2: Industry Impact - The collaboration between VIAVI and Verizon aims to improve network performance and technician safety by enabling efficient identification of Passive Intermodulation (PIM) sources [3] - The introduction of AR technology in RF analytics empowers technicians, engineers, and researchers to make faster and smarter decisions in the field [3]

Core Insights - VIAVI Solutions Inc. has launched the first all-in-one medium and long-range bidirectional testing and certification solution for hollow core fiber (HCF) [1] - The solution utilizes advanced 8100 Series OTDR modules, optical dispersion measurement (ODM) modules, and ReportPRO software with specific algorithms for bidirectional OTDR analysis [1][6] Technology and Performance - Hollow core fiber technology offers significant advantages over single mode fiber, including up to 30% lower latency, up to 70% reduced Chromatic Dispersion (CD), and up to 65% lower attenuation [3] - The technology is increasingly adopted for applications such as AI, high-frequency financial trading, and quantum communication, where operational performance improvements are critical [4] Market Demand and Testing Requirements - Projects involving hollow core fiber require larger investments and extensive testing due to higher manufacturing costs and unique optical properties [5] - VIAVI's solution is designed to meet the specific testing needs of hollow core fiber, including bidirectional OTDR, PMD, CD, and attenuation profile testing [6][7] Validation and Collaboration - The efficacy of VIAVI's solution has been validated through trials with leading fiber manufacturers and hyperscalers, demonstrating strong performance across various link distances [2][7]

Company Overview - Viavi Solutions is a technology company that specializes in network testing, monitoring, and optical security products, serving a global customer base with a diversified business model [1] - The company generates revenue primarily through hardware and software sales, recurring service contracts, and support offerings tailored for communications infrastructure and network optimization [2] Insider Transaction Details - Richard John Burns, a Director at Viavi Solutions, sold 3,384 shares in an open-market transaction on December 10, 2025, which represented 50% of his direct holdings, reducing his position from 6,768 to 3,384 shares [4][5] - The transaction was executed under a pre-established Rule 10b5-1 trading plan, ensuring a systematic approach to the sale [2][9] Impact of the Transaction - Following the sale, Burns's direct ownership in Viavi Solutions stands at 3,384 shares, which is approximately 0.0015% of the outstanding shares [3] - The stock had surged by around 85% over the previous year, reaching a five-year high at the time of the sale, indicating a favorable market condition for the company [5][6] - The current trailing P/E ratio is 292, reflecting past struggles, while the forward P/E ratio is around 29, closely approximating the S&P 500 average of 31, suggesting that while the valuation is not typically a sell signal, profit-taking after a significant run-up is understandable [7]

Core Thesis - Viavi Solutions Inc. is positioned for substantial growth in the optics industry, with a current share price of $17.88 and a forward P/E ratio of 24.57, indicating potential upside for investors [1][4]. Company Overview - Viavi Solutions Inc. provides network test, monitoring, and assurance solutions across various sectors including telecommunications, cloud, and critical infrastructures globally [2]. - The company focuses on producing essential testing equipment for high-speed optics, solidifying its role in the optics supply chain [3]. Financial Performance - Revenue is projected to grow by 28% by FY26, with EBITDA expected to expand at a faster rate of 49%, highlighting operational efficiency [4]. - Viavi maintains a net income margin of 9.7%, indicating solid profitability in a specialized segment [4]. - The company trades at a forward-looking EV/Sales of 3.2x, EV/EBITDA of 15.3x, and a P/E of 27.0x, suggesting room for valuation upside [4]. Investment Appeal - The combination of strong projected financial growth, essential technology for the optics ecosystem, and a favorable risk/reward profile makes Viavi an attractive investment opportunity [5]. - Viavi benefits from the optics sector's growth while having a competitive advantage through its specialized testing equipment, positioning it for long-term value capture [5].

Industry Overview - The telecom sector experienced strong demand trends in 2025, driven by accelerated 5G deployment and increased fiber densification, despite a challenging macroeconomic environment [1] - The industry is benefiting from a software-driven, data-centric approach that enhances cloud architecture and user experience [3] - Telecom service providers are increasingly adopting fiber optic cables to meet the growing demand for cloud-based data and video streaming services [3] 5G Ecosystem and Innovations - 5G is recognized as a key catalyst for Generative AI and next-generation IoT services, including connected cars and smart cities, revolutionizing various industry verticals [2] - The deployment of 5G networks is expected to boost the adoption of IoT devices, with technologies like network slicing gaining prominence [10] Network Convergence - Operators are moving towards converged network structures that combine voice, video, and data communications, enabling rapid scaling of communication functionalities [4] - The proliferation of cloud networking solutions is increasing demand for quality networking equipment as both consumers and enterprises utilize the network [4] Company-Specific Insights - AT&T is facing challenges with a decline in legacy services and increasing long-term debt, struggling with wireline losses and shrinking Internet revenue [6][7] - Ericsson is expanding its 5G infrastructure with 194 live networks globally and focusing on enterprise business growth, positioning itself for market leadership in 5G [10][11] - CommScope is enhancing its product portfolio through acquisitions and innovations, such as the HX6-611-6WH/B antenna, to meet future network demands [15][16] - Viavi Solutions is leveraging the transition to 5G networks to drive growth, focusing on network test and monitoring solutions [18][19] Stock Performance and Outlook - Ericsson's stock has gained 20.6% over the past year, with earnings estimates for the current and next fiscal year increasing by 50% and 6.9%, respectively [12] - CommScope's stock has surged 193.7% over the past year, with significant increases in earnings estimates for the current and next fiscal year [17] - Viavi's stock has risen 71.2% over the past year, with earnings estimates also showing substantial growth [20][22]

Core Viewpoint - Viavi Solutions Inc. has announced a private exchange of $103.463 million of its 1.625% Convertible Senior Notes due 2026 for approximately 7,871,043 shares of its common stock at a price of $17.88 per share, facilitating a plan to prepay a minimum of $100 million of its Term Loan Credit Facility [1][2]. Group 1: Exchange Details - The exchange is expected to close on or about December 22, 2025, subject to customary closing conditions [2]. - Following the exchange, approximately $49.037 million of the 2026 Notes will remain outstanding, and the company will not receive any cash proceeds from the exchange [2]. Group 2: Transaction Participants - The transaction participants are believed to be institutional "accredited investors" and "qualified institutional buyers" as defined under relevant securities regulations [3]. Group 3: Company Overview - Viavi Solutions is a global provider of network test, monitoring, and assurance solutions across various sectors, including telecommunications, cloud, and military applications [4].

Company Overview - Viavi Solutions specializes in communication equipment and network assurance solutions, serving a global customer base with a diversified product portfolio [9] - The company offers network test, monitoring, and assurance solutions across three segments: Network Enablement, Service Enablement, and Optical Security and Performance Products [8] - As of December 10, 2025, Viavi's market capitalization is $4.15 billion, with a revenue of $1.15 billion for the trailing twelve months (TTM) [5] Insider Transaction - On December 10, 2025, Rick Burns, Director of Viavi Solutions, sold 3,384 shares for a total of $63,483.84, which reflects a 50% reduction in his direct holdings [1][2][7] - This transaction is significant as it is the only open-market sale by Burns since August 2025, matching the median size for his previous sell trades [7] - The sale was executed under a 10b5-1 trading plan, indicating a pre-established framework for the transaction [7][11] Financial Performance - Viavi reported a 25.6% year-over-year increase in net revenue for the fiscal first quarter ending September 27, 2025 [12] - Adjusted earnings for the same period soared by 150% year-over-year to $0.15 per share, indicating strong bottom-line performance [12] Market Context - The company's stock price as of December 10, 2025, is $18.76, reflecting an 85.90% increase over the past year [5] - The automated nature of the 10b5-1 trading plan suggests that Burns is supplementing his income rather than signaling a lack of confidence in the company's future [11]