Technology

VIAVI Announces Third Quarter Fiscal 2026 Results

Published

2 months ago

April 29, 2026

CHANDLER, Ariz., April 29, 2026 /PRNewswire/ — VIAVI (NASDAQ: VIAV) today reported results for its fiscal third quarter ended March 28, 2026 with the following highlights.

Third Quarter

Net revenue of $406.8 million, up $122.0 million or 42.8% year-over-yearGAAP operating margin of 6.1%, up 310 bps year-over-yearNon-GAAP operating margin of 21.0%, up 430 bps year-over-yearGAAP net income of $6.4 million, down $13.1 million or 67.2% year-over-yearNon-GAAP net income of $67.6 million, up $33.7 million or 99.4% year-over-year GAAP diluted earnings per share (EPS) of $0.03, down $0.06 or 66.7% year-over-yearNon-GAAP diluted EPS of $0.27, up $0.12 or 80.0% year-over-year

“VIAVI’s financial performance for the third quarter has exceeded our expectations, driven by strong growth in the data center and aerospace and defense end markets. We expect these end markets to continue to be strong drivers for the foreseeable future,” said Oleg Khaykin, VIAVI’s President and Chief Executive Officer.

Financial Overview:

The tables below (in millions, except percentage and per share data) provide comparisons of quarterly results to prior periods, including sequential quarterly and year-over-year changes. A full reconciliation between the GAAP and non-GAAP measures included in the tables is contained in this release under the section titled “Use of Non-GAAP (Adjusted) Financial Measures.”

Fiscal Third Quarter Ended March 28, 2026

GAAP Results

Change

FY 2026

FY 2025

Q/Q

Y/Y

Net revenue

$ 406.8

$ 369.3

$ 284.8

10.2 %

42.8 %

Gross margin

57.5 %

57.0 %

56.4 %

50 bps

110 bps

Operating margin

6.1 %

3.1 %

3.0 %

300 bps

310 bps

Income from operations

$ 24.8

$ 11.4

$ 8.5

117.5 %

191.8 %

Net income (loss) per share

0.03

(0.21)

0.09

114.3 %

(66.7) %

Non-GAAP Results

Change

FY 2026

FY 2025

Q/Q

Y/Y

Gross margin

62.2 %

61.8 %

60.0 %

40 bps

220 bps

Operating margin

21.0 %

19.3 %

16.7 %

170 bps

430 bps

Income from operations

$ 85.5

$ 71.4

$ 47.7

19.7 %

79.2 %

Earnings per share

0.27

0.22

0.15

22.7 %

80.0 %

Net Revenue by Segment

Change

FY 2026

FY 2025

Q/Q

Y/Y

Network and Service Enablement

$ 321.5

$ 291.5

$ 208.2

10.3 %

54.4 %

Optical Security and Performance Products

85.3

77.8

76.6

9.6 %

11.4 %

Total

$ 406.8

$ 369.3

$ 284.8

10.2 %

42.8 %

Americas, Asia-Pacific and EMEA customers represented 44.9%, 31.5% and 23.6%, respectively, of total net revenue for the quarter ended March 28, 2026.As of March 28, 2026, the Company held $508.0 million in total cash, short-term investments and short-term restricted cash.As of March 28, 2026, the Company had $250.0 million aggregate principal amount of 0.625% Senior Convertible Notes, $400 million aggregate principal amount of 3.75% Senior Notes and $450.0 million aggregate principal amount of Term Loan B with a total net carrying value of $1,080.8 million.During the fiscal quarter ended March 28, 2026, the Company used $26.3 million of cash in operating activities. This is primarily due to a portion of the contingent consideration payment classified as an operating outflow.

Business Outlook for the Fourth Quarter of Fiscal 2026

For the fourth quarter of fiscal 2026 ending June 27, 2026, the Company expects net revenue to be between $427 million to $437 million and non-GAAP EPS to be between $0.29 to $0.31.

With respect to our expectations above, the Company has not reconciled GAAP net income (loss) per share to non-GAAP EPS in this press release because it is unable to provide a meaningful or accurate estimate of certain reconciling items described in the “Use of Non-GAAP (Adjusted) Financial Measures” section below and the information is not available without unreasonable effort as a result of the inherent difficulty of forecasting the timing and/or amounts of certain items, including certain charges related to restructuring, acquisition, integration and related charges. In addition, the Company believes such reconciliations would imply a degree of precision that may be confusing or misleading to investors.

Conference Call

The Company will discuss these results and other related matters at 1:30 p.m. Pacific Time on April 29, 2026 in a live webcast, which will also be archived for replay on the Company’s website at https://investor.viavisolutions.com. The Company will post supplementary slides outlining the Company’s latest financial results on https://investor.viavisolutions.com under the “Quarterly Results” section concurrently with this earnings press release. This press release is being furnished as a Current Report on Form 8-K with the Securities and Exchange Commission, and will be available at www.sec.gov.

About VIAVI Solutions

VIAVI (NASDAQ: VIAVI) is a global leader in test and measurement and optical technologies. Our test, monitoring, assurance, and resilient position, navigation and timing solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.

Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include any expectation, anticipation or guidance as to future financial performance, including future revenue, gross margin, operating expense, operating margin, profitability targets, cash flow and other financial metrics, as well as the impact and duration of certain trends and market position and conditions, including market stabilization and recovery. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. In particular, the Company’s ability to predict future financial performance continues to be difficult due to, among other things: (a) continuing general limited visibility across many of our product lines; (b) quarter-over-quarter product mix fluctuations, which can materially impact profitability measures due to the broad gross margin ranges across our portfolio; (c) consolidations in our industry and customer base; (d) competitive pressures; (e) unforeseen changes or deceleration in the demand for current and new products, technologies, services, delays or unforeseen events in the roll-out of new industry platforms or evolving technology such as 3D sensing and customer purchasing delays due to macroeconomic conditions, tightening of expenditures or as they assess or transition to such new technologies and/or architectures, all of which limit near-term demand visibility, and could negatively impact potential revenue; (f) continued decline of average selling prices across our businesses; (g) notable seasonality and a significant level of in-quarter book-and-ship business; (h) various product and manufacturing transfers, site consolidations, product discontinuances and restructuring and workforce reduction plans, including the number of employees impacted by a restructuring plan, the estimated expenses the Company will recognize, the timing of these payments and expenses, and anticipated cost savings associated with such plans; (i) challenges in execution of business strategy; (j) financial projections and expectations, including profitability of certain business units, synergies, benefits and other matters related to the acquisition of the high-speed ethernet, network security and channel emulation testing business of Spirent Communications plc; (k) challenges integrating the businesses the Company has acquired and realizing all of the expected benefits and savings; (l) supply chain and materials constraints and the ability of our suppliers and contract manufacturers to meet production and delivery requirements to our forecasted demand; (m) potential disruptions or delays to our manufacturing and operations due to climate conditions and natural disasters in the regions where we operate, such as wildfires, drought conditions and related water shortages in Arizona, as well as wildfires in Northern California and related blackouts and power outages in that region; (n) the uncertain and ongoing impact to our supply chain of geopolitical tensions, such as the ongoing conflict between Russia and Ukraine and the instability in the Middle East, evolving global trade and tariff negotiations and the uncertain tariff landscape, sanctions and other trade measures imposed by domestic and foreign governments, adverse actions and escalating tensions with foreign governments, including China, and the possibility of escalation of “trade wars,” cyber-attacks, and retaliatory measures; (o) the impact of infectious disease outbreaks, epidemics, and pandemics on our financial results, revenues, customer demand, business operations and manufacturing and on the business operations of our customers, contract manufacturers and suppliers; and (p) inherent uncertainty related to global markets, including inflationary pressures, recessions, tightening monetary policy and liquidity, and the effect of such markets on demand for our products. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. For more information on the risks and uncertainties associated with the Company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. The forward-looking statements contained in this press release are made as of the date thereof and the Company assumes no obligation to update such statements. We have not filed our Form 10-Q for the quarter ended March 28, 2026. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates, that are identified prior to the time we file the Form 10-Q.

Contact Information

Investors:
Vibhuti Nayar
408-404-6305
vibhuti.nayar@viavisolutions.com

Press:
Amit Malhotra
202-341-8624
amit.malhotra@viavisolutions.com

The following financial tables are presented in accordance with GAAP, unless otherwise specified.

-SELECTED PRELIMINARY FINANCIAL DATA –

VIAVI SOLUTIONS INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share data)

(unaudited)

PRELIMINARY

Three Months Ended

Nine Months Ended

March 28, 2026

March 29, 2025

March 28, 2026

March 29, 2025

Net revenue

$ 406.8

$ 284.8

$ 1,075.2

$ 793.8

Cost of revenues

159.7

118.0

429.1

323.5

Amortization of acquired technologies

13.0

6.1

32.4

12.7

Gross profit

234.1

160.7

613.7

457.6

Operating expenses:

Research and development

71.0

50.0

192.9

151.5

Selling, general and administrative

113.6

101.3

344.9

259.7

Amortization of other intangibles

7.4

1.2

15.2

3.3

Restructuring and related charges (benefits)

17.3

(0.3)

16.9

0.9

Total operating expenses

209.3

152.2

569.9

415.4

Income from operations

24.8

8.5

43.8

42.2

Interest and other income (expense), net

3.3

2.2

(34.0)

9.3

Interest expense

(14.3)

(7.5)

(37.0)

(22.5)

Income (loss) before income taxes and equity investment earnings

13.8

3.2

(27.2)

29.0

Provision for (benefit from) income taxes

7.4

(16.3)

36.1

2.2

Equity investment earnings

—

0.2

—

Net income (loss)

$ 6.4

$ 19.5

$ (63.1)

$ 26.8

Net income (loss) per share:

Basic

$ 0.03

$ 0.09

$ (0.28)

$ 0.12

Diluted

$ 0.03

$ 0.09

$ (0.28)

$ 0.12

Shares used in per share calculations:

Basic

232.0

222.6

226.2

222.2

Diluted

249.5

226.9

226.2

225.2

The preliminary financial statements are estimated based on our current information.

VIAVI SOLUTIONS INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions, unaudited)

PRELIMINARY

March 28, 2026

June 28, 2025

ASSETS

Current assets:

Cash and cash equivalents

$ 499.0

$ 423.6

Short-term investments

1.8

1.7

Restricted cash

7.2

3.7

Accounts receivable, net

320.3

261.0

Inventories, net

147.9

117.9

Prepayments and other current assets

77.5

77.3

Total current assets

1,053.7

885.2

Property, plant and equipment, net

222.5

231.9

Goodwill, net

701.8

595.7

Intangibles, net

398.0

131.6

Deferred income taxes

79.7

87.2

Other non-current assets

72.1

62.2

Total assets

$ 2,527.8

$ 1,993.8

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$ 81.7

$ 68.8

Accrued payroll and related expenses

72.8

63.6

Deferred revenue

85.2

74.1

Accrued expenses

27.8

28.7

Short-term debt

244.5

246.2

Other current liabilities

140.5

108.3

Total current liabilities

652.5

589.7

Long-term debt

836.3

396.3

Other non-current liabilities

192.5

227.6

Total liabilities

1,681.3

1,213.6

Total stockholders’ equity

846.5

780.2

Total liabilities and stockholders’ equity

$ 2,527.8

$ 1,993.8

The preliminary financial statements are estimated based on our current information.

VIAVI SOLUTIONS INC.

REPORTABLE SEGMENT INFORMATION

(in millions, unaudited)

PRELIMINARY

Three Months Ended March 28, 2026

Network and
Service
Enablement

Optical Security
and Performance
Products

Other Items (1)

Consolidated
GAAP Measures

Net revenue

$ 321.5

$ 85.3

$ —

$ 406.8

Gross profit

$ 210.0

$ 42.9

$ (18.8)

$ 234.1

Gross margin

65.3 %

50.3 %

57.5 %

Operating income

$ 55.4

$ 30.1

$ (60.7)

$ 24.8

Operating margin

17.2 %

35.3 %

6.1 %

Three Months Ended March 29, 2025

Network and
Service
Enablement

Optical Security
and Performance
Products

Other Items (1)

Consolidated
GAAP Measures

Net revenue

$ 208.2

$ 76.6

$ —

$ 284.8

Gross profit

$ 131.3

$ 39.5

$ (10.1)

$ 160.7

Gross margin

63.1 %

51.6 %

56.4 %

Operating income

$ 21.7

$ 26.0

$ (39.2)

$ 8.5

Operating margin

10.4 %

33.9 %

3.0 %

Nine Months Ended March 28, 2026

Network and
Service
Enablement

Optical Security
and Performance
Products

Other Items (1)

Consolidated
GAAP Measures

Net revenue

$ 829.0

$ 246.2

$ —

$ 1,075.2

Gross profit

$ 534.7

$ 125.9

$ (46.9)

$ 613.7

Gross margin

64.5 %

51.1 %

57.1 %

Operating income

$ 117.1

$ 86.9

$ (160.2)

$ 43.8

Operating margin

14.1 %

35.3 %

4.1 %

Nine Months Ended March 29, 2025

Network and
Service
Enablement

Optical Security
and Performance
Products

Other Items (1)

Consolidated
GAAP Measures

Net revenue

$ 567.5

$ 226.3

$ —

$ 793.8

Gross profit

$ 357.9

$ 119.0

$ (19.3)

$ 457.6

Gross margin

63.1 %

52.6 %

57.6 %

Operating income

$ 31.8

$ 80.2

$ (69.8)

$ 42.2

Operating margin

5.6 %

35.4 %

5.3 %

(1) See Reconciliation of GAAP Measures from Continuing Operations to Non-GAAP Measures below for details of Other Items.

The preliminary financial schedules are estimated based on our current information.

Use of Non-GAAP (Adjusted) Financial Measures

The Company provides non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP EPS financial measures as supplemental information regarding the Company’s operational performance and believes providing this additional information allows investors to see Company results through the eyes of management, to evaluate more clearly and consistently the Company’s core operational performance and expenses and evaluate the efficacy of the methodology used by management to measure such performance. The Company uses the measures disclosed in this release to evaluate the Company’s historical and prospective financial performance, as well as its performance relative to its competitors. Specifically, management uses these items to further its own understanding of the Company’s core operating performance, which the Company believes represents its performance in the ordinary, ongoing and customary course of its operations. Accordingly, management excludes from core operating performance items such as those relating to certain purchase price accounting adjustments, amortization of acquisition related intangibles, amortization expense related to acquisition related inventory step-up, stock-based compensation, legal settlements, restructuring, changes in fair value of contingent consideration liabilities, certain investing and acquisition related expenses and other activities and income tax expenses or benefits that management believes are not reflective of such ordinary, ongoing and core operating activities. The non-GAAP adjustments are outlined below.

Cost of revenues, costs of research and development and costs of selling, general and administrative: The Company’s GAAP presentation of gross margin and operating expenses may include (i) additional depreciation and amortization from changes in estimated useful life and the write-down of certain property, plant and equipment and intangibles, (ii) charges such as severance, benefits and outplacement costs related to restructuring plans with a specific and defined term, (iii) costs for facilities not required for ongoing operations, and costs related to the relocation of certain equipment from these facilities and/or contract manufacturer facilities, (iv) stock-based compensation, (v) amortization expense related to acquired intangibles, (vi) amortization expense related to acquisition related inventory step-up, (vii) changes in fair value of contingent consideration liabilities, (viii) acquisition related transaction and integration costs related to acquired entities, (ix) significant legal settlements and other contingencies and (x) other charges unrelated to our core operating performance comprised mainly of other costs and contingencies unrelated to current and future operations, including transformational initiatives such as the implementation of simplified automated processes, site consolidations, and reorganizations. The Company excludes these items in calculating non-GAAP operating margin, non-GAAP net income and non-GAAP EPS.

Non-cash interest expense and other expense: The Company excludes certain expenses, including loss on debt extinguishment, accretion of debt discount, and other non-cash activities that management believes are not reflective of such ordinary, ongoing and core operating activities, when calculating non-GAAP net income and non-GAAP EPS.

Income tax expense or benefit: The Company excludes certain non-cash tax expense or benefit items, such as (i) the utilization of net operating losses (NOLs) where valuation allowances were released, (ii) intra-period tax allocation benefit and (iii) the tax effect for amortization of non-tax deductible intangible assets, in calculating non-GAAP net income and non-GAAP EPS.

Non-GAAP financial measures are not in accordance with, preferable to, or an alternative for, generally accepted accounting principles in the United States. The GAAP measure most directly comparable to non-GAAP operating income is operating income. The GAAP measure most directly comparable to non-GAAP operating margin is operating margin. The GAAP measure most directly comparable to non-GAAP net income is net income. The GAAP measure most directly comparable to non-GAAP EPS is earnings per share.

VIAVI SOLUTIONS INC.

RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS

TO NON-GAAP MEASURES

(in millions, except per share data)

(unaudited)

PRELIMINARY

The following tables reconcile GAAP measures to non-GAAP measures:

Three Months Ended

Nine Months Ended

March 28, 2026

March 29, 2025

March 28, 2026

March 29, 2025

Gross
Profit

Gross
Margin

Gross
Profit

Gross
Margin

Gross
Profit

Gross
Margin

Gross
Profit

Gross
Margin

GAAP measures

$ 234.1

57.5 %

$ 160.7

56.4 %

$ 613.7

57.1 %

$ 457.6

57.6 %

Stock-based compensation

1.1

0.3 %

2.0

0.7 %

3.2

0.3 %

4.5

0.6 %

Other charges unrelated to core operating performance (1)

3.8

1.0 %

0.3

0.1 %

5.2

0.5 %

0.4

0.1 %

Amortization of acquisition related inventory step-up

0.9

0.2 %

1.7

0.6 %

6.1

0.5 %

1.7

0.2 %

Amortization of intangibles

13.0

3.2 %

6.1

2.2 %

32.4

3.0 %

12.7

1.6 %

Total related to Cost of Revenues

18.8

4.7 %

10.1

3.6 %

46.9

4.3 %

19.3

2.5 %

Non-GAAP measures

$ 252.9

62.2 %

$ 170.8

60.0 %

$ 660.6

61.4 %

$ 476.9

60.1 %

Three Months Ended

Nine Months Ended

March 28, 2026

March 29, 2025

March 28, 2026

March 29, 2025

Operating
Income

Operating
Margin

Operating
Income

Operating
Margin

Operating
Income

Operating
Margin

Operating
Income

Operating
Margin

GAAP measures

$ 24.8

6.1 %

$ 8.5

3.0 %

$ 43.8

4.1 %

$ 42.2

5.3 %

Stock-based compensation

13.9

3.4 %

14.1

4.9 %

41.2

3.8 %

40.5

5.1 %

Change in fair value of contingent liability

2.6

0.6 %

2.5

0.9 %

24.3

2.3 %

(4.9)

(0.6) %

Acquisition and integration related charges

0.7

0.2 %

13.3

4.7 %

12.4

1.1 %

16.7

2.1 %

Other charges unrelated to core operating performance (2)

4.9

1.2 %

0.6

0.2 %

11.7

1.1 %

0.2

— %

Amortization of acquisition related inventory step-up

0.9

0.2 %

1.7

0.6 %

6.1

0.6 %

1.7

0.2 %

Amortization of intangibles

20.4

5.0 %

7.3

2.5 %

47.6

4.4 %

16.0

2.0 %

Restructuring and related charges (benefits)

17.3

4.3 %

(0.3)

(0.1) %

16.9

1.6 %

0.9

0.1 %

Litigation settlement

—

— %

—

— %

—

— %

(1.3)

(0.1) %

Total related to Cost of Revenues and Operating Expenses

60.7

14.9 %

39.2

13.7 %

160.2

14.9 %

69.8

8.8 %

Non-GAAP measures

$ 85.5

21.0 %

$ 47.7

16.7 %

$ 204.0

19.0 %

$ 112.0

14.1 %

Three Months Ended

Nine Months Ended

March 28, 2026

March 29, 2025

March 28, 2026

March 29, 2025

Net Income

Diluted
EPS

Net Income

Diluted
EPS

Net (Loss)
Income

Diluted
EPS

Net
Income

Diluted
EPS

GAAP measures

$ 6.4

$ 0.03

$ 19.5

$ 0.09

$ (63.1)

$ (0.28)

$ 26.8

$ 0.12

Items reconciling GAAP Net Income (Loss) and EPS to Non-GAAP Net Income and EPS:

Stock-based compensation

13.9

0.06

14.1

0.06

41.2

0.17

40.5

0.18

Change in fair value of contingent liability

2.6

0.01

2.5

0.01

24.3

0.11

(4.9)

(0.02)

Acquisition and integration related charges

0.7

—

13.3

0.06

12.4

0.05

16.7

0.08

Other charges unrelated to core operating performance (2)

4.9

0.02

0.6

—

11.7

0.05

0.2

—

Amortization of acquisition related inventory step-up

0.9

—

1.7

0.01

6.1

0.03

1.7

0.01

Amortization of intangibles

20.4

0.08

7.3

0.03

47.6

0.20

16.0

0.07

Restructuring and related charges (benefits)

17.3

0.07

(0.3)

—

16.9

0.07

0.9

—

Litigation settlement

—

(1.3)

(0.01)

Non-cash interest expense and other expense (3)

2.4

0.01

1.3

0.01

46.6

0.20

3.5

0.02

(Benefits from) provision for income taxes

(1.9)

(0.01)

(26.1)

(0.12)

8.5

0.04

(24.4)

(0.11)

Total related to Net Income and EPS

61.2

0.24

14.4

0.06

215.3

0.92

48.9

0.22

Non-GAAP measures

$ 67.6

$ 0.27

$ 33.9

$ 0.15

$ 152.2

$ 0.64

$ 75.7

$ 0.34

Shares used in per share calculation for Non-GAAP EPS

249.5

226.9

236.9

225.2

Note: Certain totals may not add due to rounding.

(1) Included in the three months ended March 28, 2026 are charges of $3.6 million charges related to the write off of property, plant and equipment and other charges unrelated to core operating performance.

(2) Included in the three months ended March 28, 2026 are charges of $3.9 million related to the write off of property, plant and equipment, $0.3 million of accelerated depreciation and other charges unrelated to core operating performance. In addition, included in the nine months ended March 28, 2026 are $3.5 million of losses on disposal of long-lived assets, $2.1 million charge for restoration services for a VIAVI facility impacted by a fire and other charges unrelated to core operating performance. Included in the nine months ended March 29, 2025 is a gain of $0.9 million on the sale of assets previously classified as held for sale and other charges unrelated to core operating performance.

(3) The Company incurred losses of $3.7 million and $46.2 million for the three and nine months ended March 28, 2026, respectively, in connection with the extinguishment of certain 1.625% Senior Convertible Notes and prepayments of the Term Loan B.

The preliminary financial schedules are estimated based on our current information.

VIAVI SOLUTIONS INC.

RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS

TO ADJUSTED EBITDA

(in millions, unaudited)

PRELIMINARY

Three Months Ended

Nine Months Ended

March 28, 2026

March 29, 2025

March 28, 2026

March 29, 2025

GAAP Net income (loss)

$ 6.4

$ 19.5

$ (63.1)

$ 26.8

Interest and other (income) expense, net (1)

(3.3)

(2.2)

34.0

(9.3)

Interest expense

14.3

7.5

37.0

22.5

Provision for (benefit from) income taxes

7.4

(16.3)

36.1

2.2

Equity investment earnings

—

(0.2)

—

Depreciation

10.3

9.3

30.1

28.8

Amortization

20.4

7.3

47.6

16.0

EBITDA

55.5

25.1

121.5

87.0

Restructuring and related charges (benefits)

17.3

(0.3)

16.9

0.9

Stock-based compensation

13.9

14.1

41.2

40.5

Change in fair value of contingent liability

2.6

2.5

24.3

(4.9)

Acquisition and integration related charges

0.7

13.3

12.4

16.7

Other charges (benefits) unrelated to core operating performance (2)

4.6

0.6

11.3

(1.3)

Amortization of acquisition related inventory step-up

0.9

1.7

6.1

1.7

Adjusted EBITDA

$ 95.5

$ 57.0

$ 233.7

$ 140.6

Note: Certain totals may not add due to rounding.

(1) The Company incurred losses of $3.7 million and $46.2 million for the three and nine months ended March 28, 2026, respectively, in connection with the extinguishment of certain 1.625% Senior Convertible Notes and prepayments of the Term Loan B.

(2) Included in the three months ended March 28, 2026 are charges of $3.9 million related to the write off of property, plant and equipment and other charges unrelated to core operating performance. In addition, included in the nine months ended March 28, 2026 are $3.5 million of losses on disposal of long-lived assets, $2.1 million charge for restoration services for a VIAVI facility impacted by a fire and other charges unrelated to core operating performance. Included in the nine months ended March 29, 2025 is a gain of $0.9 million on the sale of assets previously classified as held for sale and other charges unrelated to core operating performance.

The preliminary financial schedules are estimated based on our current information.

View original content to download multimedia:https://www.prnewswire.com/news-releases/viavi-announces-third-quarter-fiscal-2026-results-302757519.html

SOURCE VIAVI Financials

Technology

/C O R R E C T I O N — MDA Space/

Published

21 minutes ago

June 19, 2026

In the news release, MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC, issued 19-Jun-2026 by MDA Space over PR Newswire, we are advised by the company that a change has been made. The complete, corrected release follows:

MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC

Expands Total Addressable Market for MDA SpacePositions company to further pursue substantial US defence market opportunitiesAdds a profitable, cash-generating business with 18-year historyTransaction expected to be accretive to Adjusted EBITDA1 and Adjusted EPS1 in 2027Adds high-quality spacecraft and satellite component supplier business and US$3.5B (approx. C$4.9B) to pipelineComplementary technology and customer setAdds key talent & manufacturing facilities in Denver, Colorado space & aerospace hub

TORONTO, June 19, 2026 /PRNewswire/ – MDA Space Ltd. (TSX:MDA) (NYSE:MDA) (the “Company”), a trusted mission partner to the rapidly expanding global space industry, has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies LLC in an all-cash transaction for a purchase price and enterprise value of US$620 million (approximately C$874 million), subject to purchase price adjustments. Blue Canyon Technologies (BCT) is a spacecraft and satellite component manufacturer and mission services provider, currently part of RTX’s Raytheon business.

With more than 85 spacecraft launched and 3,500+ products on orbit, BCT has established impressive flight heritage and mission success since the company was founded in 2008. Once completed, the transaction is expected to provide MDA Space with a strategic business and manufacturing footprint to capitalize on growing demand in the US government market for defence space missions. With over 400 highly skilled employees and two manufacturing facilities in the Denver, Colorado space and aerospace hub, BCT offers a diverse and innovative product portfolio that enables a broad range of missions for the space economy.

“The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base,” said Mike Greenley, CEO of MDA Space. “Securing those strategic benefits on an accretive basis with a profitable and cash-generating business makes this an ideal fit for MDA Space expansion and continued shareholder value creation.”

Transaction Details

The transaction will add a profitable, cash-generating business that is expected to be accretive to Adjusted EBITDA and Adjusted EPS in 2027. With an 18-year history, BCT is a high-quality spacecraft and satellite component supplier that will add US$3.5B (approximately C$4.9B) to our opportunity pipeline. The transaction is expected to close by the end of 2026, subject to customary closing conditions and required regulatory approvals, and is fully committed and financed at signing through senior secured debt. As part of our ongoing capital allocation framework, we will evaluate opportunities to optimize our capital structure over time, subject to market conditions and broader capital deployment priorities. This transaction is expected to result in 2026 pro forma leverage within our stated target range of 1.5x to 2.5x net debt to last twelve months adjusted EBITDA.

Conference Call

MDA Space will host a conference call and webcast to discuss the transaction on Friday, June 19, 2026 at 8:30 a.m. ET. Interested parties can join the call by dialing 1-416-945-7677 (Toronto area) or 1-888-699-1199 (toll-free North America) or +44-800-279-7040 (toll-free United Kingdom) and entering the conference ID 30111. A live webcast of the conference call and an accompanying slide presentation will be available at https://mda-en.investorroom.com/events-presentations.

A replay of the webcast will be archived on the MDA Space Investor Relations website following the call. Parties may also access a recording of the call, which will be available until June 26, 2026, by dialing 1-888-660-6345 and entering the passcode 30111#.

FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the company’s current expectations regarding future events. Such forward-looking information includes, but is not limited to, information with respect to the Company’s objectives and strategies to achieve these objectives, as well as information with respect to the Company’s beliefs, plans, expectations, anticipations, estimates, intentions and views of future events, including statements regarding the proposed acquisition, the anticipated timing for the closing of the acquisition, the anticipated benefits, synergies and growth opportunities expected to result from the acquisition, and any projected, estimated or forecasted financial information presented in connection therewith. There can be no assurance that: (i) the acquisition will be completed on the anticipated timeline, or at all, and the closing of the acquisition may be delayed or may not occur within the anticipated timeframe or at all; (ii) the conditions to the closing of the acquisition will be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the failure to obtain any such approvals or satisfy any such conditions could delay or prevent the closing of the acquisition; (iii) any projected, estimated or forecasted financial information presented in connection with the acquisition will be achieved, as such projections are based on assumptions that may prove to be incorrect, and actual results may differ materially from those projected, estimated or forecasted; and (iv) the anticipated strategic benefits, growth opportunities and synergies described in connection with the acquisition will be realized as expected, or at all, as such benefits may take longer to realize than anticipated, may be more costly to achieve than expected, or may not be realized at all.

All forward-looking statements are based on assumptions and analyses made by MDA Space in light of management’s experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties and other factors which may cause the actual results, performance or achievements of MDA Space to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risk that the acquisition will not be completed on the anticipated timeline or at all, the risk that conditions to the closing of the acquisition will not be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the risks and uncertainties detailed under the “Risk Factors” section of MDA Space’s annual information form dated March 4, 2026. Although MDA Space believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect and there can be no assurance that actual results will be consistent with the forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information included within this press release. These forward-looking statements speak only as of the date of this news release. Except as required by law, MDA Space is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

ABOUT MDA SPACE
Building the space between proven and possible, MDA Space (TSX:MDA) (NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission — bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we’ll take you there. For more information, visit mda.space.

SOCIAL MEDIA
LinkedIn: LinkedIn.com/company/MDAspace
X: X.com/MDA_space
Facebook: Facebook.com/MDAspace
YouTube: YouTube.com/c/MDAspace
Instagram: instagram.com/MDA_space

1 Non-IFRS measure

Correction: The MDA logo has been exchanged for the MDA Space logo.

View original content to download multimedia:https://www.prnewswire.com/news-releases/mda-space-announces-definitive-agreement-to-acquire-us-based-blue-canyon-technologies-llc-302805322.html

SOURCE MDA Space

Technology

BSE Index Services launches BSE Saatvik 100 Index

Published

21 minutes ago

June 19, 2026

MUMBAI, India, June 19, 2026 /PRNewswire/ — BSE Index Services Pvt. Ltd., a wholly owned subsidiary of BSE, today announced the launch of India’s 1st Saatvik Index, BSE Saatvik 100. The Index is derived from the constituents of BSE 500 Index that align with Saatvik principles.

The BSE Saatvik 100 Index has a base value of 1000, first value date is 20th June 2005, and it is reconstituted Semi-annually in June & December.

Speaking at the launch, Mr. Ashutosh Singh, MD & CEO, BSE Index Services Pvt. Ltd. said, “The launch of the BSE Saatvik 100 Index marks an important step in broadening the range of thematic indices available to investors seeking alignment between their investment decisions and value-based principles. As capital markets continue to evolve, investor preferences are increasingly extending beyond traditional financial metrics to include ethical, cultural and philosophy-driven considerations. The Index represents a distinctive addition to India’s indexing landscape and provides market participants with a credible foundation for the development of passive, structured and other investment products aligned with this philosophy.”

This new index can be used for running passive strategies such as ETFs and Index Funds. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolio. Investors can now access a broader spectrum of market opportunities, further enriching their investment strategies with this latest addition to BSE’s suite of indices.

Click here to know more about the index.

About BSE INDEX SERVICES PRIVATE LIMITED:

BSE Index Services Pvt. Ltd. (formerly Asia Index Pvt. Ltd.) is a wholly owned subsidiary of BSE Ltd, Asia’s oldest stock exchange and home to the iconic SENSEX index – a leading indicator of Indian equity market performance. BSE Index Services Pvt. Ltd aims to provide a full array of indices to global / domestic investors and calculates, publishes, and maintains a diverse family of indices.

About BSE:

BSE is Asia’s oldest exchange and the world’s largest exchange in terms of the number of listed companies. BSE has been playing a prominent role in developing the Indian capital market and has successfully offered an efficient capital raising platform to many companies in India. The benchmark index of BSE, Sensex, is tracked by investors across the globe is also considered as a barometer for the growth of Indian Economy. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds, stock lending and borrowing.

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/bse-index-services-launches-bse-saatvik-100-index-302805321.html

Technology

Belgravia Hartford Provides Technical Progress Update on gravitio.ai it’s Prediction Intelligence Platform

Published

21 minutes ago

June 19, 2026

Gravitio reports 5,874 recorded AI-agent predictions since April 2026, more than 8,000 cloned AI agents, early internal crypto and football prediction-performance metrics, expanded sports coverage, and continued development of its proprietary prediction-performance data layer.

TORONTO, June 19, 2026 /PRNewswire/ – Belgravia Hartford Capital Inc. (CSE: BLGV) (OTCQB: BLGVF) (FRA: ECA) (“Belgravia” or the “Company”) is pleased to provide a technical progress update for https://gravitio.ai (“Gravitio”), the Company’s fully wholly owned AI-powered prediction intelligence platform.

Gravitio has advanced its AI-agent infrastructure, prediction-tracking systems, scoring formulas, sports coverage, and market-signal tools, generating 5,874 recorded AI-agent predictions and expanding to more than 8,000 cloned AI agents across supported categories. These developments strengthen Gravitio’s ability to analyze selected market and event data, generate structured predictions, evaluate outcomes, and build a proprietary prediction-performance data layer.

Internal Prediction Performance

Gravitio’s crypto-market agents have recorded approximately 65% accuracy across selected short-term and long-term crypto prediction categories, based on the internal tracking methodology and completed predictions measured through Gravitio’s internal result-tracking process. For World Cup 2026-related football activity, Gravitio is tracking approximately 60% live accuracy across early tournament data, including match outcomes, scoring, and tournament-related categories.

These internal performance metrics are based on Company records and internal methodology. They have not been independently validated and should be viewed as product-development indicators only, not as guarantees of future prediction accuracy, trading performance, betting results, user outcomes, revenue, or commercial success. Such predictions are not financial advice or recommendations to place any wager or expect financial returns. Past predictions do not guarantee or reflect future outcomes.

User Growth Since Pilot Stage

Since Gravitio began pilot-stage activity in April 2026, the platform has grown to more than 4,000 registered users, primarily through web-based channels, early online discovery, and initial user onboarding. Belgravia views this early registered user base as an initial indicator of interest in Gravitio’s AI-agent, prediction, challenge, and gamification features as the platform advances through its public market rollout.

AI-Agent Infrastructure and Proprietary Data Layer

Gravitio’s AI-agent architecture supports scalable testing across various markets, sports categories, time horizons, prediction models, and data-weighting structures. Beyond generating predictions, this infrastructure underpins a proprietary prediction-performance data layer: every AI-agent prediction, user prediction, confidence score, scoring event, and verified outcome can contribute structured data that may support stronger AI models, agent benchmarking, user-performance scoring, improved rankings, advanced analytics, and potential business-to-business intelligence applications.

Sports, Scoring, and Market-Signal Improvements

Gravitio has expanded its sports prediction coverage beyond FIFA 2026 Tournament to include LALIGA, SERIEA, BUNDESLIGA, LIGUE1, MLS, UCL, MLB, UFC, F1, EUROLEAGUE, NBA, AFL. Gravitio has also improved its tournament prediction and scoring framework, including updated formulas that place greater weight on higher-precision predictions and category-specific difficulty, to better evaluate prediction quality and create more useful performance data across sports and event categories. Gravitio continues to improve its data-gathering and market-signal infrastructure to support stronger data ingestion, better event tracking, and more consistent evaluation of prediction results.

Market and Jurisdictional Expansion

Belgravia is reviewing opportunities to introduce Gravitio across additional markets and jurisdictions as part of its broader growth plan, considering regulatory requirements, product availability, user demand, sports and financial-data access, technology infrastructure, third-party data dependencies, payment systems, app-store availability, and local compliance considerations.

CTO Commentary

Mr.Mehrdad Safarmohammadloo, Chief Technology Officer of Gravitio, commented:

“Since April, our focus has been on strengthening the technical foundation of Gravitio. We have expanded our AI-agent infrastructure, increased the number of recorded predictions, improved our data pipelines, and developed new scoring formulas to better evaluate prediction performance across different categories. The most important part of this work is the data layer behind the system — every agent prediction, user prediction, final result, and scoring event helps us understand how the platform performs and where it can improve. Gravitio is being designed as an adaptive prediction system, not a static prediction application. Our objective is to continue improving the relationship between data, AI agents, human prediction activity, and verified outcomes as we prepare the platform for broader commercial, market, and jurisdictional expansion.”

About Gravitio

Gravitio is an AI-powered prediction intelligence platform developed by Belgravia Hartford Capital Inc., designed to analyze selected markets, sports, events, and real-world outcomes through AI agents, data gathering, machine-learning systems, user predictions, scoring formulas, and performance tracking. Gravitio is publicly available through its web, iOS, and Android applications. For more information, visit https://gravitio.ai.

About Belgravia Hartford Capital Inc.

Belgravia Hartford Capital Inc. is an investment issuer focused on technology, finance, artificial intelligence, digital assets, and related investment opportunities. Listed for trading on the Canadian Securities Exchange and OTCQB, focused on the tech and finance sectors of the Bitcoin ecosystem. The Company’s focus, as set out in its 2018 Investment Policy, specifies cryptocurrencies, artificial intelligence, media and digital streaming opportunities. Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. Belgravia and its investments are considered very high-risk holdings, and it may expose shareholders to significant volatility and losses.

Forward-Looking Statements and Disclaimer

This press release contains forward-looking statements regarding Belgravia, Gravitio, the Company’s technology development strategy, AI-agent infrastructure, prediction systems, sports prediction features, World Cup 2026-related prediction activity, user growth, scoring systems, data infrastructure, third-party validation options, market and jurisdictional expansion, product development, and future commercial opportunities. Forward-looking statements are based on current expectations and are subject to risks, uncertainties, regulatory requirements, technical dependencies, product validation, market conditions, commercial execution risk, digital asset market volatility, user adoption, data availability, third-party service dependencies, app-store requirements, payment-processing requirements, and other factors that may cause actual results to differ materially.

Gravitio’s prediction outputs are probabilistic and are not guaranteed. Any references to prediction accuracy, verified predictions, agent performance, scoring systems, user counts, or internal tracking results are based on Company records and internal methodology and may change as additional data becomes available. The internal prediction-performance metrics described in this press release have not been independently validated and should not be interpreted as a guarantee of future prediction accuracy, investment performance, trading performance, betting results, user outcomes, revenue, or commercial success.

The content of this press release should not be interpreted as financial advice, investment advice, trading advice, betting and gambling advice, or a guarantee of profit, income, prediction accuracy, or future monetary return.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/belgravia-hartford-provides-technical-progress-update-on-gravitioai-its-prediction-intelligence-platform-302805214.html

SOURCE Belgravia Hartford Capital Inc.