AVNW

EX-99.1

2 fy26q4pressreleaseex991.htm

EX-99.1

Document

Aviat Networks Announces Fiscal 2026 Fourth Quarter and Twelve Months Financial Results

Fourth Quarter Total Revenue of $120.9 million

Q4 Operating Income of $5.8 million; Q4 Non-GAAP Operating Income of $10.0 million

Q4 Net Loss of $1.3 million; Q4 Adjusted EBITDA of $11.9 million

Q4 Diluted Loss per Share of $(0.10); Q4 Non-GAAP Diluted Earnings per Share of $0.64

AUSTIN, Texas, August 27, 2026 -- 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 2026 fourth quarter and twelve months ended July 3, 2026.

Fourth Quarter Highlights

•Completed sixth consecutive fiscal year of revenue growth; FY26 revenue of $439.7 million, up 1.2% versus the prior year

•Increased Q4 total revenue to $120.9 million, up 4.8% versus the year ago period; Q4 North America revenue of $68.3 million, up 17.8% versus the year ago period

•Finished the fiscal year with backlog of $367 million, up 14% year-over-year; maintained a trailing-twelve month book-to-bill ratio greater than 1 in the quarter

•Secured significant order in the U.S. from an existing customer for $25.0 million to $30.0 million

•Repurchased $2.2 million of shares in Q4 at an average price of $16.55 per share

Fourth Quarter Financial Highlights

•Total Revenues: $120.9 million; North America revenues of $68.3 million, up $10.3 million from the year ago period

•GAAP Results: Gross Margin 30.8%; Operating Expenses $31.4 million; Operating Income $5.8 million; Net Loss $1.3 million; Net Loss per diluted share (“Net Loss per share”) $(0.10)

•Non-GAAP Results: Adjusted EBITDA $11.9 million; Gross Margin 30.9%; Operating Expenses $27.3 million; Operating Income $10.0 million; Net Income $8.3 million; Net Income per share $0.64

•Cash and Cash Equivalents: $72.8 million

•Net Debt: $24.2 million

Full Year Financial Highlights

•Total Revenues: $439.7 million, up 1.2% from last year

•GAAP Results: Gross Margin 31.5%; Operating Expenses $119.1 million; Operating Income $19.2 million; Net Income $2.5 million, Net Income per diluted share $0.19

•Non-GAAP Results: Adjusted EBITDA $36.7 million; Gross Margin 31.8%; Operating Expenses $109.2 million; Operating Income $30.6 million; Net Income per diluted share $1.66

Fiscal 2026 Fourth Quarter and Twelve Months Ended July 3, 2026

Revenues

The Company reported total revenues of $120.9 million for its fiscal 2026 fourth quarter, compared to $115.3 million in the fiscal 2025 fourth quarter, an increase of $5.5 million or 4.8%. North America revenue of $68.3 million increased by $10.3 million or 17.8%, compared to $58.0 million in the prior year due to growth with mobile service providers and private network customers. International revenue of $52.6 million decreased by $4.8 million or 8.3%, compared to $57.3 million in the prior year due to timing of certain mobile network projects.

For the twelve months ended July 3, 2026, total revenue increased by 1.2% to $439.7 million, compared to $434.6 million in the same period of fiscal 2025. North America revenue of $220.0 million increased by $12.4 million or 6.0%, compared to $207.6 million in the same period of fiscal 2025. International revenue of $219.7 million decreased by $7.4 million or 3.2% as compared to $227.0 million in the same period of fiscal 2025.

Gross Margins

In the fiscal 2026 fourth quarter, the Company reported GAAP gross margin of 30.8% and non-GAAP gross margin of 30.9%. This compares to GAAP gross margin of 34.2% and non-GAAP gross margin of 34.7% in the fiscal 2025 fourth quarter, a decrease of 340 and 380 basis points, respectively. The fluctuations were driven by product and customer mix.

For the twelve months ended July 3, 2026, the Company reported GAAP gross margin of 31.5% and non-GAAP gross margin of 31.8%. This compares to GAAP gross margin of 32.1% and non-GAAP gross margin of 32.8% in the same period of fiscal 2025.

Operating Expenses

The Company reported GAAP total operating expenses of $31.4 million for the fiscal 2026 fourth quarter, compared to $30.6 million in the fiscal 2025 fourth quarter, an increase of $0.8 million or 2.7%. Non-GAAP total operating expenses, excluding the impact of restructuring charges, share-based compensation, and litigation and other expenses for the fiscal 2026 fourth quarter were $27.3 million, compared to $27.1 million in the prior year, an increase of $0.2 million or 0.8%.

For the twelve months ended July 3, 2026, the Company reported total operating expenses of $119.1 million, compared to $128.9 million in the same period of fiscal 2025, a decrease of $9.8 million or 7.6%. Non-GAAP total operating expenses, excluding the impact of restructuring charges, share-based compensation, and litigation and other expenses for the twelve months ended July 3, 2026 were $109.2 million, as compared to $113.5 milli

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avnw-202602030001377789false00013777892026-02-032026-02-030001377789us-gaap:CommonStockMember2026-02-032026-02-030001377789us-gaap:PreferredStockMember2026-02-032026-02-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 3, 2026

AVIAT NETWORKS, INC.

(Exact name of registrant as specified in its charter)

Delaware 001-33278 20-5961564

(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

200 Parker Dr., Suite C100A, Austin, Texas 78728

(Address of principal executive offices, including zip code)

(408)-941-7100

Registrant’s telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.01 per shareAVNWNASDAQ Stock Market LLC Preferred Share Purchase RightsNASDAQ Stock Market LLC

☐ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2). ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02     Results of Operations and Financial Condition

On February 3, 2026, Aviat Networks, Inc. (the “Company”) issued a press release announcing its financial results for the second quarter ended December 26, 2025. A copy of the press release is filed as Exhibit 99.1 to this report. The Company also posted to its website an Investor Presentation with respect to its second quarter ended December 26, 2025. The information in this Item 2.02, including Exhibit 99.1 hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. The press release and Investor Presentation refer to certain non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in Exhibit 99.1 of this report.

Item 9.01     Financial Statements and Exhibits. (d)    Exhibits.

Exhibit No.Description

99.1Press Release, issued by Aviat Networks, Inc. on February 3, 2026.

104Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

AVIAT NETWORKS, INC.

Date: February 3, 2026 By: /s/ Andrew C. Schmidt

Name: Andrew C. Schmidt

Title: Senior Vice President and Chief Financial Officer