Accessibility StatementSkip Navigation VIAVI assured PNT solutions will be integrated at NTIA-funded VALORâ"¢ and ORCID Labs to test and demonstrate their ability to protect cellular networks CHANDLER, Ariz., Nov. 19, 2025 /PRNewswire/ -- VIAVI Solutions Inc. (VIAVI) (NASDAQ: VIAV) has received an award from the U.S. Department of Transportation (DOT) through its Complementary Positioning, Navigation, and Timing (CPNT) Action Plan Rapid Phase II. VIAVI will integrate and test its SecureTime altGNSS GEO-L ...

Financial Data and Key Metrics Changes - For the three months ending July 31, 2025, consolidated revenue was $13.8 million, down from $15.1 million for the same period in the prior fiscal year, indicating a decrease of approximately 8.6% [12] - Consolidated net income for the same period was approximately $634,000, or $0.07 per share, compared to approximately $2.4 million, or $0.25 per share for the same period of the prior fiscal year, reflecting a significant decline in profitability [17] - The company's fully funded backlog at the end of July 2025 was approximately $71 million, slightly up from approximately $70 million for the previous fiscal year ended April 30, 2025 [17] Business Line Data and Key Metrics Changes - Revenue from commercial and U.S. government satellite programs was approximately $6.5 million, or 47% of total revenue, down from $8.3 million, or 55%, in the same period of the prior fiscal year [12] - Revenues from non-space U.S. government and DOD customers were $6.9 million, up from $6.3 million in the same period of the prior fiscal year, accounting for approximately 50% of consolidated revenues compared to 42% for the prior fiscal year [13] - Other commercial and industrial revenues decreased to approximately $439,000 from approximately $544,000 in the prior fiscal year [13] Market Data and Key Metrics Changes - The company noted that customer-driven delays on key programs pushed revenue recognition out of the fiscal first quarter, but these delays are not expected to result in overall program revenue reductions [4] - The company is actively bidding on new programs, with expectations of meaningful new business in the near term, particularly in space and defense markets [5][6] Company Strategy and Development Direction - The company has transformed into a larger, more profitable, and cash-generative entity that invests in future growth while rewarding shareholders [5] - The recent opening of an engineering facility in Boulder, Colorado, aims to support ongoing programs and new technology efforts, particularly in quantum sensing [6] - The company is pursuing external government funding for research and development, especially in quantum sensing, which is identified as a large emerging market [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the issues faced in the first quarter related to customer-led delays are now resolved, with significant progress being made towards a larger book of business [4] - The company maintains a debt-free balance sheet and a strong working capital position, indicating confidence in its liquidity to meet operational needs [9][17] - Management highlighted the increasing global focus on resilient timing technologies, validating the company's strategic importance in the defense sector [11] Other Important Information - The company announced a $20 million authorization for share repurchase, demonstrating its commitment to returning cash to shareholders while investing in future growth [10] - The company plans to host its second annual Quantum Sensing Summit in New York City, aimed at exploring emerging technologies and reinforcing its strategic role in advancing quantum technology [7] Q&A Session Summary Question: Update on various clock technologies and timelines for productization - Management confirmed that atomic clocks are available off the shelf, with prototypes of the Mercury Ion atomic clock being produced in collaboration with the Jet Propulsion Laboratory, expected for low-rate production in about a year [20][21] Question: Interest in applying quantum sensing technology outside of space applications - Management stated that while they are not directly investing in quantum computing, they are aware of its developments and are focusing on quantum sensing technologies that can contribute quickly [23][25]

Core Insights - Microchip Technology has launched a portfolio of GNSS Disciplined Oscillator (GNSSDO) Modules that integrate advanced timing technologies for aerospace and defense applications, enhancing mission-critical accuracy and reliability [1][2]. Product Features - The GNSSDO modules process reference signals from GNSS or alternative clock sources, providing precise timing and stability for military and defense applications, including radar and satellite communications [2][3]. - The modules serve as PNT subsystems or stand-alone systems, featuring local oscillators engineered by Microchip, ensuring reliability [3]. - The MD-013 ULTRA CLEAN module supports multiple GNSS constellations and features ultra-low phase noise with specifications of −119 dBc/Hz at a 1 Hz offset and a noise floor of −165 dBc/Hz [7]. - The MD-300 module is designed for harsh environments, with a compact footprint of 1.5 × 2.5 inches, suitable for applications like drones [7]. - The LM-010 module provides precise timing for Low Earth Orbit applications, emphasizing radiation tolerance and stability [7]. Development and Support - Microchip provides VDOM3 software and GUI tools to assist developers in adjusting performance parameters and integrating GNSSDO modules into their systems [8]. - The MD-01X Evaluation Kit is available for easy connection and monitoring of the MD-01 series of GNSSDOs [8]. Availability - The GNSSDO modules are available for purchase in production quantities through Microchip sales representatives or authorized distributors [9].

Core Insights - Microchip Technology has launched a portfolio of GNSS Disciplined Oscillator (GNSSDO) Modules aimed at enhancing Position, Navigation and Timing (PNT) technology for defense applications, particularly in GNSS-denied environments [1][2] Product Features - The GNSSDO modules process reference signals from GNSS or alternative clock sources, providing precise timing and stability tailored to specific application requirements [2][3] - The modules include high-performance components such as embedded atomic clocks, 32-bit microcontrollers, and SmartFusion® 2 FPGAs, ensuring reliability and trustworthiness [3][5] - The MD-013 ULTRA CLEAN module supports multiple GNSS constellations and features ultra-low phase noise with specifications of −119 dBc/Hz at a 1 Hz offset and a noise floor of −165 dBc/Hz [6] - The MD-300 module is designed for harsh environments, featuring a compact footprint and high shock tolerance, making it suitable for applications like drones [6] - The LM-010 module is tailored for Low Earth Orbit (LEO) applications, providing radiation tolerance and stability with outputs of 1 PPS TTL and 10 MHz sinewave [6] Development and Support - Microchip provides VDOM3 software and GUI tools to assist developers in adjusting performance parameters and integrating GNSSDO modules into their systems [8] - The MD-01X Evaluation Kit is available for easy connection and monitoring of the MD-01 series of GNSSDOs [8] Availability - The GNSSDO modules are available for purchase in production quantities through Microchip sales representatives or authorized distributors [9]

Financial Data and Key Metrics Changes - Operational EBITDA increased by 6% in Q2 to $121.3 million, driven by revenue from engineering and support and recurring services [22] - Service revenue rose by 2% to $128.8 million, led by growth in IoT [22] - Commercial IoT revenue totaled $44.8 million in Q2, up 8% from the previous year [22] - Subscriber equipment sales decreased by 15% to $19.5 million [24] - The company updated its full-year service revenue growth guidance from 5%-7% to 3% [25] Business Line Data and Key Metrics Changes - Voice and data revenue rose by 1% to $56.8 million, with subscriber numbers remaining consistent [22] - Commercial broadband revenue declined by 6% to $12.7 million due to a shift from primary service to companion backup VSAT plans [23] - Engineering and support revenue increased significantly to $41.9 million, up from $25.8 million in the prior year [24] Market Data and Key Metrics Changes - Government service revenue increased modestly to $26.8 million, reflecting a step-up in EMSS contracts with the U.S. Government [23] - The maritime broadband business is transitioning to a companion service, impacting service revenue growth [7][25] Company Strategy and Development Direction - The company is focusing on investments in new revenue streams, including Iridium Certus IoT products and PNT services, to achieve a $1 billion service revenue target by 2030 [8][28] - The strategy includes expanding partnerships with mobile network operators and enhancing the product portfolio to address specific customer needs [10][94] - The company is also exploring next-generation network technologies to enhance service offerings [18][83] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth despite short-term adjustments in service revenue guidance [28] - The company anticipates continued demand for PNT services as organizations address vulnerabilities in GPS systems [11][27] - Management highlighted the importance of capital investments and R&D to support future growth [17][31] Other Important Information - Capital expenditures for the year are expected to reach approximately $90 million, focusing on satellite software and cloud-based infrastructure [13] - The company has a cash balance of $79.3 million and a net leverage of 3.6 times OIBDA [28] Q&A Session Summary Question: Service revenue reduction guidance and maritime ARPU stabilization - Management indicated that maritime broadband is less than 10% of the business and will remain a solid foundation despite ARPU pressures [37][38] Question: Timing of PNT revenue and customer acquisition - Management noted that the timing of certain PNT revenues has shifted to next year, but the opportunity for growth remains strong [41][42] Question: FAA issues and Aireon service - Management is monitoring FAA developments and believes there is a significant opportunity for Aireon in the future [44] Question: IoT growth and annual growth deceleration - Management remains confident in achieving double-digit growth in IoT for the second half of the year, driven by new product developments [50][51] Question: Partnership with Amazon constellation - Management discussed the potential for partnerships with large commercial players to drive growth in industrial and mobility sectors [104]

Core Insights - VIAVI Solutions Inc. has launched its second-generation RSR Transcoder, designed to enhance operational capabilities in GPS/GNSS-denied environments [1][2] - The RSR Transcoder provides assured Position, Navigation, and Timing (PNT) outputs, facilitating upgrades to legacy systems [2][4] - The product addresses the increasing threat of GPS and GNSS jamming and spoofing, which are becoming common in electronic warfare [3][6] Product Features - The RSR Transcoder includes a GPS full constellation simulator and utilizes a patented algorithm for rapid conversion of assured inputs to Universal GPS signals [4] - It is ruggedized with IP68 enclosures suitable for various platforms and operates in a covert mode [5] - The device outputs at 100 Hz and offers multiple holdover oscillator options [5] Industry Context - The reliance on PNT technologies in modern military systems is growing, with adversaries increasingly capable of disrupting these systems [6] - The RSR Transcoder is positioned as a cost-effective solution for upgrading legacy systems to withstand such disruptions [6] Event Participation - The RSR Transcoder will be showcased at the 2025 Joint Navigation Conference, highlighting its capabilities in D3SOE navigation [6] - VIAVI will also present on various topics related to navigation and anti-jamming technologies during the conference [8]