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    Aviat Networks Announces Fiscal 2025 Third Quarter and Nine Month Financial Results

    5/6/25 4:20:00 PM ET
    $AVNW
    Radio And Television Broadcasting And Communications Equipment
    Technology
    Get the next $AVNW alert in real time by email

    Total Revenue of $112.6 million; Up 1.6% Year-Over-Year

    Operating Income of $9.3 million; Non-GAAP Operating Income of $13.0 million

    Net Income of $3.5 million; Adjusted EBITDA of $14.9 million

    Diluted Earnings per Share of $0.27; Non-GAAP Diluted Earnings per Share of $0.88

    AUSTIN, Texas, May 6, 2025 /PRNewswire/ -- 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 2025 third quarter ended March 28, 2025.

    Aviat Networks, Inc. Logo (PRNewsfoto/Aviat Networks, Inc.)

    Third Quarter Highlights

    • Accomplished 19th consecutive quarter of trailing twelve month revenue growth
    • Grew GAAP operating income by 64% year-over-year
    • Set new record for quarterly Adjusted EBITDA driven by strong margins and operating expense cost management
    • Accepted first orders for ProVision Plus network management software from Pasolink customers, marking initial steps in capturing a $50 million opportunity over the next five years

    Third Quarter Financial Highlights

    • Total Revenues: $112.6 million, up 1.6% from the same quarter last year
    • GAAP Results: Gross Margin 34.9%; Operating Expenses $30.0 million; Operating Income $9.3 million; Net Income $3.5 million; Net Income per diluted share ("Net Income per share") $0.27
    • Non-GAAP Results: Adjusted EBITDA $14.9 million; Gross Margin 35.8%; Operating Expenses $27.2 million; Operating Income $13.0 million; Net Income $11.3 million; Net Income per share $0.88
    • Cash and cash equivalents: $49.4 million
    • Net debt: $24.5 million

    Fiscal 2025 Third Quarter and Nine Months Ended March 28, 2025

    Revenues

    The Company reported total revenues of $112.6 million for its fiscal 2025 third quarter, compared to $110.8 million in the fiscal 2024 third quarter, an increase of $1.8 million or 1.6%. North America revenue of $49.4 million increased by $5.0 million or 11.3%, compared to $44.4 million in the prior year due to strength from private networks projects. International revenue of $63.2 million decreased by $(3.2) million or (4.8)%, compared to $66.4 million in the prior year, primarily due to timing of capital expenditure plans of mobile network operators.

    For the nine months ended March 28, 2025, revenue increased 9.6% to $319.3 million, compared to $291.4 million in the same period of fiscal 2024.

    Gross Margins

    In the fiscal 2025 third quarter, the Company reported GAAP gross margin of 34.9% and non-GAAP gross margin of 35.8%. This compares to GAAP gross margin of 32.5% and non-GAAP gross margin of 35.1% in the fiscal 2024 third quarter, an increase of 240 and 70 basis points, respectively. The increase was driven by regional and product mix in the quarter.

    For the nine months ended March 28, 2025, the Company reported GAAP gross margin of 31.3% and non-GAAP gross margin of 32.1%. This compares to GAAP gross margin of 35.5% and non-GAAP gross margin of 36.6% in the same period of fiscal 2024, a decrease of (420) and (450) basis points, respectively.

    Operating Expenses

    The Company reported GAAP total operating expenses of $30.0 million for the fiscal 2025 third quarter, compared to $30.4 million in the fiscal 2024 third quarter. Non-GAAP total operating expenses, excluding the impact of restructuring charges, share-based compensation, and merger and acquisition and other expenses for the fiscal 2025 third quarter were $27.2 million, compared to $27.4 million in the prior year, a decrease of $(0.2) million or (0.6)%.

    For the nine months ended March 28, 2025, the Company reported GAAP total operating expenses of $98.3 million, compared to $89.6 million in the same period of fiscal 2024, an increase of $8.6 million or 9.6%. Non-GAAP total operating expenses, excluding the impact of restructuring charges, share-based compensation, and merger and acquisition and other expenses for the nine months ended March 28, 2025 were $86.4 million, compared to $74.1 million in the same period of fiscal 2024, an increase of $12.2 million or 16.5%.

    Operating Income

    The Company reported GAAP operating income of $9.3 million for the fiscal 2025 third quarter, compared to GAAP operating income of $5.7 million in the fiscal 2024 third quarter, an increase of $3.6 million. Operating income increased primarily due to higher gross margin dollars and flat operating expenses. On a non-GAAP basis, the Company reported operating income of $13.0 million for the fiscal 2025 third quarter, compared to non-GAAP operating income of $11.4 million in the prior year, an increase of $1.6 million.

    For the nine months ended March 28, 2025, the Company reported GAAP operating income of $1.7 million, compared to $13.9 million in the same period of fiscal 2024, a decrease of $(12.3) million. On a non-GAAP basis, the Company reported operating income of $16.1 million, compared to $32.5 million in the same period of fiscal 2024, a decrease of $(16.4) million.

    Income Taxes

    The Company reported GAAP income tax expense of $1.1 million in the fiscal 2025 third quarter, compared to GAAP income tax expense of $0.8 million in the fiscal 2024 third quarter.

    For the nine months ended March 28, 2025, the Company reported a GAAP income tax benefit of $(2.7) million compared to GAAP income tax expense of $3.1 million in the same period of fiscal 2024, a decrease of $(5.8) million.

    Net Income / Net Income Per Share

    The Company reported GAAP net income of $3.5 million in the fiscal 2025 third quarter or GAAP net income per share of $0.27. This compared to GAAP net income of $3.9 million or GAAP net income per share of $0.30 in the fiscal 2024 third quarter. On a non-GAAP basis, the Company reported non-GAAP net income of $11.3 million or non-GAAP net income per share of $0.88, compared to non-GAAP net income of $10.0 million or $0.78 per share in the prior year.

    The Company reported a GAAP net loss of $(3.9) million for the nine months ended March 28, 2025, or GAAP net loss per diluted share of $(0.30). This compared to GAAP net income of $9.2 million or $0.75 per share in the comparable fiscal 2024 period. On a non-GAAP basis, the Company reported net income of $10.6 million or net income per share of $0.83 for the nine months ended March 28, 2025, compared to non-GAAP net income of $30.0 million or $2.43 per share in the comparable fiscal 2024 period.

    Adjusted EBITDA

    Adjusted earnings before interest, tax, depreciation and amortization ("Adjusted EBITDA") for the fiscal 2025 third quarter was $14.9 million, compared to $12.7 million in the fiscal 2024 third quarter, an increase of $2.2 million.

    Balance Sheet Highlights

    The Company reported $49.4 million in cash and cash equivalents as of March 28, 2025, compared to $64.6 million as of June 28, 2024. As of March 28, 2025, total debt was $73.9 million, an increase of $25.6 million from June 28, 2024.

    Fiscal 2025 Full Year Outlook

    The Company is leaving its fiscal 2025 full year guidance as previously stated:

    • Full year Revenue between $430 and $470 million
    • Full year Adjusted EBITDA between $30.0 and $40.0 million

    Conference Call Details

    Aviat Networks will host a conference call at 5:00 p.m. Eastern Time (ET) today, May 6, 2025, to discuss its financial and operational results for the fiscal 2025 third quarter ended March 28, 2025. Participating on the call will be Peter Smith, President and Chief Executive Officer; Michael Connaway, Sr. Vice President and Chief Financial Officer; and Andrew Fredrickson, Director of Corporate Development and Investor Relations. Following management's remarks, there will be a question and answer period.

    Interested parties may access the conference call live via the webcast through Aviat Network's Investor Relations website at investors.aviatnetworks.com/events-and-presentations/events, or may participate via telephone by registering using this online form. Once registered, telephone participants will receive the dial-in number along with a unique PIN number that must be used to access the call. A replay of the conference call webcast will be available after the call on the Company's investor relations website.

    About Aviat Networks

    Aviat Networks, Inc. is the leading expert in wireless transport and access solutions and works to provide dependable products, services and support to its customers. With more than one million systems sold into 170 countries worldwide, communications service providers and private network operators including state/local government, utility, federal government and defense organizations trust Aviat with their critical applications. Coupled with a long history of microwave innovations, Aviat provides a comprehensive suite of localized professional and support services enabling customers to drastically simplify both their networks and their lives. For more than 70 years, the experts at Aviat have delivered high performance products, simplified operations, and the best overall customer experience. Aviat is headquartered in Austin, Texas. For more information, visit www.aviatnetworks.com or connect with Aviat Networks on Facebook and LinkedIn.

    Forward-Looking Statements

    The information contained in this Current Report on Form 8-K includes forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including Aviat's beliefs and expectations regarding outlook, business conditions, new product solutions, customer positioning, future orders, bookings, new contracts, cost structure, profitability in fiscal 2025, its recent acquisitions and acquisition strategy, process improvements, measures designed to improve internal controls, its ability to maintain effective internal control over financial reporting and management systems and remediate material weaknesses, plans and objectives of management, realignment plans and review of strategic alternatives and expectations regarding future revenue, gross margin, Adjusted EBITDA, operating income or earnings or loss per share. All statements, trend analyses and other information contained herein regarding the foregoing beliefs and expectations, as well as about the markets for the services and products of Aviat and trends in revenue, and other statements identified by the use of forward-looking terminology, including "anticipate," "believe," "plan," "estimate," "expect," "goal," "will," "see," "continue," "delivering," "view," and "intend," or the negative of these terms or other similar expressions, constitute forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, forward-looking statements are based on estimates reflecting the current beliefs, expectations and assumptions of the senior management of Aviat regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Forward-looking statements should therefore be considered in light of various important factors, including those set forth in this document. Therefore, you should not rely on any of these forward-looking statements.

    Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include the following: the disruption the 4RF and NEC transactions may cause to customers, vendors, business partners and our ongoing business; our ability to integrate the operations of the acquired 4RF and NEC businesses with our existing operations and fully realize the expected synergies of the 4RF and NEC transactions on the expected timeline; disruptions relating to the ongoing conflict between Russia and Ukraine and the conflict in Israel and surrounding areas; continued price and margin erosion in the microwave transmission industry; the impact of the volume, timing, and customer, product, and geographic mix of our product orders; our ability to meet financial covenant requirements; the timing of our receipt of payment; our ability to meet product development dates or anticipated cost reductions of products; our suppliers' inability to perform and deliver on time, component shortages, or other supply chain constraints; the effects of inflation; customer acceptance of new products; the ability of our subcontractors to timely perform; weakness in the global economy affecting customer spending; retention of our key personnel; our ability to manage and maintain key customer relationships; uncertain economic conditions in the telecommunications sector combined with operator and supplier consolidation; our failure to protect our intellectual property rights or defend against intellectual property infringement claims; the results of our restructuring efforts; the effects of currency and interest rate risks; the ability to preserve and use our net operating loss carryforwards; the effects of current and future government regulations; general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States and other countries where we conduct business; the conduct of unethical business practices in developing countries; the impact of political turmoil in countries where we have significant business; our ability to realize the anticipated benefits of any proposed or recent acquisitions; the impact of tariffs, the adoption of trade restrictions affecting our products or suppliers, a United States withdrawal from or significant renegotiation of trade agreements, the occurrence of trade wars, the closing of border crossings, and other changes in trade regulations or relationships; our ability to implement our stock repurchase program or that it will enhance long-term stockholder value; and the impact of adverse developments affecting the financial services industry, including events or concerns involving liquidity, defaults or non-performance by financial institutions.

    For more information regarding the risks and uncertainties for Aviat's business, see "Risk Factors" in Aviat's Form 10-K for the fiscal year ended June 28, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on October 4, 2024, as well as other reports filed by Aviat with the SEC from time to time. Aviat undertakes no obligation to update publicly any forward-looking statement, whether written or oral, for any reason, except as required by law, even as new information becomes available or other events occur in the future.

    Investor Relations:

    Andrew Fredrickson

    Director, Corporate Development & Investor Relations

    Phone: (512) 582-4626

    Email: [email protected]

    Table 1

    AVIAT NETWORKS, INC.

    Fiscal Year 2025 Third Quarter Summary

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (Unaudited)





    Three Months Ended



    Nine Months Ended

    (In thousands, except per share amounts)

    March 28,

    2025



    March 29,

    2024



    March 28,

    2025



    March 29,

    2024

    Revenues:















    Product sales

    $               76,824



    $               70,844



    $             220,252



    $             195,410

    Services

    35,816



    39,978



    99,014



    96,013

    Total revenues

    112,640



    110,822



    319,266



    291,423

    Cost of revenues:















    Product sales

    51,370



    47,783



    158,540



    120,989

    Services

    21,974



    26,968



    60,756



    66,841

    Total cost of revenues

    73,344



    74,751



    219,296



    187,830

    Gross margin

    39,296



    36,071



    99,970



    103,593

    Operating expenses:















    Research and development

    7,704



    10,623



    28,334



    25,441

    Selling and administrative

    22,121



    20,198



    68,348



    61,979

    Restructuring charges (recovery)

    177



    (417)



    1,592



    2,227

    Total operating expenses

    30,002



    30,404



    98,274



    89,647

    Operating income

    9,294



    5,667



    1,696



    13,946

    Interest expense, net

    1,557



    928



    4,252



    1,421

    Other expense, net

    3,068



    63



    4,047



    228

    Income (loss) before income taxes

    4,669



    4,676



    (6,603)



    12,297

    Provision for (benefit from) income taxes

    1,141



    806



    (2,747)



    3,086

    Net income (loss)

    $                 3,528



    $                 3,870



    $               (3,856)



    $                 9,211

















    Net income (loss) per share of common stock outstanding:















    Basic

    $                   0.28



    $                   0.31



    $                 (0.30)



    $                   0.76

    Diluted

    $                  0.27



    $                   0.30



    $                (0.30)



    $                   0.75

    Weighted-average shares outstanding:















    Basic

    12,689



    12,555



    12,672



    12,043

    Diluted

    12,838



    12,779



    12,672



    12,325

     

    Table 2

    AVIAT NETWORKS, INC.

    Fiscal Year 2025 Third Quarter Summary

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (Unaudited)

     

    (In thousands)

    March 28,

    2025



    June 28,

    2024

    ASSETS







    Current Assets:







    Cash and cash equivalents

    $                    49,429



    $                    64,622

    Accounts receivable, net

    178,036



    158,013

    Unbilled receivables

    101,406



    90,525

    Inventories

    93,158



    62,267

    Assets held for sale

    —



    2,720

    Other current assets

    34,575



    27,076

    Total current assets

    456,604



    405,223

    Property, plant and equipment, net

    15,633



    9,480

    Goodwill

    19,188



    8,217

    Intangible assets, net

    26,817



    13,644

    Deferred income taxes

    92,377



    83,112

    Right-of-use assets

    3,406



    3,710

    Other assets

    14,312



    11,837

    Total long-term assets

    171,733



    130,000

    Total assets

    $                  628,337



    $                  535,223

    LIABILITIES AND EQUITY







    Current Liabilities:







    Accounts payable

    $                  137,730



    $                    92,854

    Accrued expenses

    40,525



    42,148

    Short-term lease liabilities

    1,163



    1,006

    Advance payments and unearned revenue

    85,658



    58,839

    Other current liabilities

    13,299



    21,614

    Current portion of long-term debt

    3,719



    2,396

    Total current liabilities

    282,094



    218,857

    Long-term debt

    70,204



    45,954

    Unearned revenue

    7,670



    7,413

    Long-term operating lease liabilities

    2,402



    2,823

    Other long-term liabilities

    427



    394

    Reserve for uncertain tax positions

    2,887



    3,485

    Deferred income taxes

    6,537



    412

    Total liabilities

    372,221



    279,338

    Commitments and contingencies







    Stockholder's equity:







    Preferred stock

    —



    —

    Common stock

    127



    126

    Treasury stock

    (7,077)



    (6,479)

    Additional paid-in-capital

    864,910



    860,071

    Accumulated deficit

    (582,369)



    (578,513)

    Accumulated other comprehensive loss

    (19,475)



    (19,320)

    Total stockholders' equity

    256,116



    255,885

    Total liabilities and stockholders' equity

    $                  628,337



    $                  535,223

     



    AVIAT NETWORKS, INC.

    Fiscal Year 2025 Third Quarter Summary

    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND REGULATION G DISCLOSURE



    To supplement the consolidated financial statements presented in accordance with accounting principles generally accepted in the United States (GAAP), we provide additional measures of gross margin, research and development expenses, selling and administrative expenses, operating expenses, operating income, provision for or benefit from income taxes, net income, net income per share, and adjusted income before interest, tax, depreciation and amortization (Adjusted EBITDA), in each case, adjusted to exclude certain costs, charges, gains and losses, as set forth below. We believe that these non-GAAP financial measures, when considered together with the GAAP financial measures provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionate positive or negative impact on results in any particular period. We also believe these non-GAAP measures enhance the ability of investors to analyze trends in our business and to understand our performance. In addition, we may utilize non-GAAP financial measures as a guide in our forecasting, budgeting and long-term planning process and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Reconciliations of these non-GAAP financial measures with the most directly comparable financial measures calculated in accordance with GAAP follow.



    1We have not reconciled Adjusted EBITDA guidance to its corresponding GAAP measure due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to merger and acquisition costs and share-based compensation. In particular, share-based compensation expense is affected by future hiring, turnover, and retention needs, as well as the future fair market value of our common stock, all of which are difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted EBITDA are not available without unreasonable effort.



     

    Table 3

    AVIAT NETWORKS, INC.

    Fiscal Year 2025 Third Quarter Summary

    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (1)

    Condensed Consolidated Statements of Operations

    (Unaudited)





    Three Months Ended



    Nine Months Ended



    March 28,

    2025



    % of

    Revenue



    March 29,

    2024



    % of

    Revenue



    March 28, 2025



    % of

    Revenue



    March 29, 2024



    % of

    Revenue



    (In thousands, except percentages and per share amounts)

    GAAP gross margin

    $           39,296



    34.9 %



    $           36,071



    32.5 %



    $       99,970



    31.3 %



    $     103,593



    35.5 %

    Share-based compensation

    (1)







    126







    214







    310





    Merger and acquisition and other expenses

    995







    2,650







    2,295







    2,759





    Non-GAAP gross margin

    40,290



    35.8 %



    38,847



    35.1 %



    102,479



    32.1 %



    106,662



    36.6 %

































    GAAP research and development expenses

    $             7,704



    6.8 %



    $           10,623



    9.6 %



    $       28,334



    8.9 %



    $       25,441



    8.7 %

    Share-based compensation

    (149)







    (155)







    (456)







    (452)





    Non-GAAP research and development expenses

    7,555



    6.7 %



    10,468



    9.4 %



    27,878



    8.7 %



    24,989



    8.6 %

































    GAAP selling and administrative expenses

    $           22,121



    19.6 %



    $           20,198



    18.2 %



    $       68,348



    21.4 %



    $       61,979



    21.3 %

    Share-based compensation

    (1,840)







    (1,605)







    (4,956)







    (4,783)





    Merger and acquisition and other expenses

    (595)







    (1,657)







    (4,890)







    (8,051)





    Non-GAAP selling and administrative expenses

    19,686



    17.5 %



    16,936



    15.3 %



    58,502



    18.3 %



    49,145



    16.9 %

































    GAAP operating expense

    $           30,002



    26.6 %



    $           30,404



    27.4 %



    $       98,274



    30.8 %



    $       89,647



    30.8 %

    Share-based compensation

    (1,989)







    (1,760)







    (5,412)







    (5,235)





    Merger and acquisition and other expenses

    (595)







    (1,657)







    (4,890)







    (8,051)





    Restructuring (charges) recovery

    (177)







    417







    (1,592)







    (2,227)





    Non-GAAP operating expense

    27,241



    24.2 %



    27,404



    24.7 %



    86,380



    27.1 %



    74,134



    25.4 %

































    GAAP operating income

    $             9,294



    8.3 %



    $             5,667



    5.1 %



    $         1,696



    0.5 %



    $       13,946



    4.8 %

    Share-based compensation

    1,988







    1,886







    5,626







    5,545





    Merger and acquisition and other expenses

    1,590







    4,307







    7,185







    10,810





    Restructuring charges (recovery)

    177







    (417)







    1,592







    2,227





    Non-GAAP operating income

    13,049



    11.6 %



    11,443



    10.3 %



    16,099



    5.0 %



    32,528



    11.2 %

































    GAAP income tax provision (benefit)

    $             1,141



    1.0 %



    $                806



    0.7 %



    $       (2,747)



    (0.9) %



    $         3,086



    1.1 %

    Adjustment to reflect pro forma tax rate

    (941)







    (306)







    3,947







    (1,986)





    Non-GAAP income tax provision

    200



    0.2 %



    500



    0.5 %



    1,200



    0.4 %



    1,100



    0.4 %

































    GAAP net income (loss)

    $             3,528



    3.1 %



    $             3,870



    3.5 %



    $       (3,856)



    (1.2) %



    $         9,211



    3.2 %

    Share-based compensation

    1,988







    1,886







    5,626







    5,545





    Merger and acquisition and other expenses

    1,590







    4,307







    7,185







    10,810





    Restructuring charges (recovery)

    177







    (417)







    1,592







    2,227





    Other expense, net

    3,068







    63







    4,047







    228





    Adjustment to reflect pro forma tax rate

    941







    306







    (3,947)







    1,986





    Non-GAAP net income

    $           11,292



    10.0 %



    $           10,015



    9.0 %



    $       10,647



    3.3 %



    $       30,007



    10.3 %

































    Diluted net income (loss) per share:

    GAAP

    $               0.27







    $               0.30







    $         (0.30)







    $           0.75





    Non-GAAP

    $               0.88







    $               0.78







    $           0.83







    $           2.43





































    Shares used in computing diluted net income (loss) per share































    GAAP

    12,838







    12,779







    12,672







    12,325





    Non-GAAP

    12,838







    12,779







    12,818







    12,325





































    Adjusted EBITDA:































    GAAP net income (loss)

    $             3,528



    3.1 %



    $             3,870



    3.5 %



    $       (3,856)



    (1.2) %



    $         9,211



    3.2 %

    Depreciation and amortization of property, plant

      and equipment and intangible assets

    1,830







    1,244







    5,935







    3,728





    Interest expense, net

    1,557







    928







    4,252







    1,421





    Other expense, net

    3,068







    63







    4,047







    228





    Share-based compensation

    1,988







    1,886







    5,626







    5,545





    Merger and acquisition and other expenses

    1,590







    4,307







    7,185







    10,810





    Restructuring charges (recovery)

    177







    (417)







    1,592







    2,227





    Provision for (benefit from) for income taxes

    1,141







    806







    (2,747)







    3,086





    Adjusted EBITDA

    $           14,879



    13.2 %



    $           12,687



    11.4 %



    $       22,034



    6.9 %



    $       36,256



    12.4 %





    (1)

    The adjustments above reconcile our GAAP financial results to the non-GAAP financial measures used by us. Our non-GAAP net income excluded share-based compensation, and other non-recurring charges (recovery). Adjusted EBITDA was determined by excluding depreciation and amortization on property, plant and equipment, interest, provision for or benefit from income taxes, and non-GAAP pre-tax adjustments, as set forth above, from GAAP net income. We believe that the presentation of these non-GAAP items provides meaningful supplemental information to investors, when viewed in conjunction with, and not in lieu of, our GAAP results. However, the non-GAAP financial measures have not been prepared under a comprehensive set of accounting rules or principles. Non-GAAP information should not be considered in isolation from, or as a substitute for, information prepared in accordance with GAAP. Moreover, there are material limitations associated with the use of non-GAAP financial measures.

     

    Table 4

    AVIAT NETWORKS, INC. 

    Fiscal Year 2025 Third Quarter Summary

    SUPPLEMENTAL SCHEDULE OF REVENUE BY GEOGRAPHICAL AREA

    (Unaudited)

     





    Three Months Ended



    Nine Months Ended



    March 28,

    2025



    March 29,

    2024



    March 28,

    2025



    March 29,

    2024

    (In thousands)















    North America

    $                    49,402



    $                    44,400



    $                  149,589



    $         149,868

    International:















    Africa and the Middle East

    15,086



    11,401



    38,210



    35,848

    Europe

    9,429



    6,549



    23,376



    17,378

    Latin America and Asia Pacific

    38,723



    48,472



    108,091



    88,329

    Total international

    63,238



    66,422



    169,677



    141,555

    Total revenue

    $                  112,640



    $                  110,822



    $                  319,266



    $         291,423

     

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/aviat-networks-announces-fiscal-2025-third-quarter-and-nine-month-financial-results-302447647.html

    SOURCE Aviat Networks, Inc.

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