Financial Data and Key Metrics Changes - Fiscal Q1 revenue was $247.9 million, slightly below the midpoint of guidance range of $240 million to $260 million, down 6% sequentially and down 20.1% year-over-year [6] - Operating profit margin was 12.4%, slightly below guidance range of 12.7% to 14.2%, up 70 basis points from the prior quarter, and down 930 basis points from the prior year [6] - EPS was $0.09, meeting the low end of guidance range of $0.09 to $0.11, down $0.01 sequentially and down $0.14 year-over-year [6] - Cash flow from operations was $50.3 million, an increase from $26.6 million a year ago [6][10] Business Segment Data and Key Metrics Changes - NSE revenue was $170.4 million, above the low end of guidance range of $167 million to $183 million, down 22.2% year-over-year [7] - NE revenue was $150 million, declining 23.7% year-over-year [7] - SE revenue was $20.4 million, down 8.9% from last year [7] - NSE gross profit margin was 63.6%, increasing 150 basis points sequentially, but decreasing 110 basis points year-over-year [7] - OSP revenue was $77.5 million, slightly above the high end of guidance range of $73 million to $77 million, down 15.1% year-over-year [9] Market Data and Key Metrics Changes - The service provider market experienced weaker spending, impacting NSE revenue [14] - Demand for anti-counterfeiting and 3D sensing products drove OSP revenue, which exceeded expectations [16] - North America faced challenges, while Europe and Asia showed better performance in telecom spending [56] Company Strategy and Development Direction - The long-term growth strategy focuses on 5G and 6G wireless, new service enablement products, and emerging resilient P&T technology [20] - The company aims to manage inventory levels and optimize operations in response to current market conditions [24] Management's Comments on Operating Environment and Future Outlook - The end-market spend environment remains challenging, particularly for service providers in North America [14] - A mixed performance was noted in NSC, with some product areas showing robust demand while others lagged [15] - Expectations for the December quarter include seasonal declines in anti-counterfeiting demand and softer 3D sensing demand [17] - Anticipated recovery in wireless lab products and fiber lab demand is expected in early calendar 2024 [19] Other Important Information - The company repurchased 1 million shares for $10 million during fiscal Q1, with $224.8 million remaining in the stock repurchase program [11] - Guidance for fiscal Q2 2024 includes revenue expectations of $240 million to $260 million and EPS of $0.06 to $0.10 [12] Q&A Session Summary Question: Plans for additional cost reductions in OpEx - Management has already implemented significant cost reductions, totaling about $30 million, and does not plan further reductions at this time [23][25] Question: Service provider order linearity and outlook - Order conversion is taking longer due to lower demand, but no cancellations have been reported, indicating a stabilization in the market [27][28] Question: Recovery in lab business - The lab business is seeing demand from wireless NEMs and high-speed optical transport, with expectations for recovery in storage and wireless sectors [31][33] Question: Outlook for the second half of the year - Management is cautiously optimistic about the second half, expecting some recovery in telecom spending and network upgrades [36][38] Question: Regional trends in telecom spending - North America is struggling, while Europe and Asia are performing better, with Latin America showing resilience [56]

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 July 1, 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 000-22874 Viavi Solutions Inc. (Exact name of Registrant as specified in its charter) Delaware 94-2579683 Indicate by check mark if the regis ...

Financial Data and Key Metrics Changes - Fiscal Q4 revenue was $263.6 million, slightly above the guidance range of $242 million to $262 million, up 6.4% sequentially but down 21.4% year-over-year [6] - Operating profit margin was 11.7%, near the high end of the guidance range, increasing by 30 basis points from the prior quarter but decreasing 9.6% from the previous year [6] - EPS was $0.10, above the guidance range of $0.07 to $0.09, up $0.02 sequentially but down $0.14 year-over-year [6] - Full year revenues decreased from $1.3 billion in 2022 to $1.1 billion in 2023, down 14.4% [7] - Full year 2023 EPS was $0.55, a decrease of 42.1% from $0.95 in 2022 [9] Business Segment Data and Key Metrics Changes - NSE segment revenue for Q4 was $197.9 million, exceeding expectations, but down 19.6% year-over-year [12] - OSP segment revenue for Q4 was $65.7 million, slightly above guidance but down 26.3% year-over-year [14] - NSE gross profit margin was 62.1%, down 280 basis points year-over-year [13] - OSP gross profit margin was 46.6%, down 9.3% year-over-year [14] Market Data and Key Metrics Changes - NSE full year revenue was $801.2 million, down 15.6% year-over-year [7] - OSP revenue decreased from $343.3 million in 2022 to $304.9 million in 2023, down 11.2% [7] - Demand for lab and production test equipment from wireless and fiber NEMs and semiconductor companies saw gradual recovery [22] Company Strategy and Development Direction - The company is focusing on capital allocation strategies, including share repurchase programs and acquisitions [10] - Continued investment in new technologies and applications, expanding into higher growth markets [27] - The restructuring program is expected to result in net operating expense savings of $28 million annually [11] Management's Comments on Operating Environment and Future Outlook - Management noted initial signs of stabilization and gradual recovery in the service provider spend [21] - The demand environment for OSP remains challenging, but there is stronger demand for anti-counterfeiting products [24] - Management expects the first fiscal quarter 2024 revenue to be in the range of $240 million to $260 million [19] Other Important Information - The company repurchased 1 million shares for $10 million in Q4 and a total of 7.3 million shares for $83.9 million in fiscal 2023 [18] - The ending balance of cash and short-term investments was $525.6 million, down $39.3 million compared to the prior year [16] Q&A Session Summary Question: Visibility on service providers' spending - Management indicated there are signs of life and multiple discussions with service providers, with expectations of increased spending on network maintenance and optimization [29][30] Question: Catalysts for service provider upgrades - Management acknowledged that while there is plenty of existing equipment, ongoing operational needs will drive demand for upgrades [34][35] Question: Reconciliation of stabilization and Q1 guidance - Management explained that traditional seasonality is returning, with expectations of lower demand in the September and March quarters [38][40] Question: Trends in high-speed connectivity - Management noted interest in 800-gig connectivity, particularly among fiber operators, but current demand is primarily for 400-gig [44] Question: Improvement in customer conversations - Management reported broad-based improvement in conversations across various customer segments, particularly with cable and Tier 2 telecom providers [78]

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 1, 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 000-22874 Viavi Solutions Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation o ...

Viavi Solutions Inc. (NASDAQ:VIAV) Q3 2023 Results Conference Call May 2, 2023 4:30 PM ET Company Participants Sagar Hebbar - Head of Investor Relations Henk Derksen - Chief Financial Officer Oleg Khaykin - President & Chief Executive Officer Conference Call Participants Michael Genovese - Rosenblatt Securities Tim Savageaux - Northland Securities Meta Marshall - Morgan Stanley & Co. LLC Operator Hello. My name is John Louis. Welcome to the Viavi Solutions 3Q 2023 Earnings Conference Call. All lines have be ...

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 December 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 000-22874 Viavi Solutions Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Viavi Solutions Inc. (NASDAQ:VIAV) Q2 2023 Earnings Conference Call February 2, 2023 4:30 PM ET Company Participants Sagar Hebbar - Head of Investor Relations Henk Derksen - Chief Financial Officer Oleg Khaykin - President & Chief Executive Officer Conference Call Participants Mehdi Hosseini - Susquehanna Alex Henderson - Needham Michael Genovese - Rosenblatt Securities. Karan Juvekar - Morgan Stanley Ruben Roy - Stifel Operator Hello, and thank you for standing by. My name is Regina, and I will be your co ...

| --- | --- | --- | --- | |------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | Fiscal 2Q 2023 Earnings Call Supplementary Slides | | | | | February 2, 2023 | | | | Cautionary Language Concerning Forward-Looking Statements This presentation contains forward-looking statements under Section 27A of the Securities Act of 1934. Forward-looking statements are all statements we make other than those dealing specifically with historical matters. These forw ...

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 October 1, 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 000-22874 Viavi Solutions Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Viavi Solutions Inc. (NASDAQ:VIAV) Q1 2023 Earnings Conference Call November 3, 2022 4:30 PM ET Company Participants Sagar Hebbar - Head of Investor Relations Oleg Khaykin - President and Chief Executive Officer Henk Derksen - Chief Financial Officer Conference Call Participants Alex Henderson - Needham and Company Tim Savageaux - Northland Capital Markets Angela Jin - JPMorgan Michael Genovese - Rosenblatt Securities Mary Lenox - Morgan Stanley Operator Good afternoon and welcome to the Viavi Solutions Fir ...