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VIAVI Announces Third Quarter Fiscal 2026 Results

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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

Q3

Q2

Q3

Change

FY 2026

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

Q3

Q2

Q3

Change

FY 2026

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

Q3

Q2

Q3

Change

FY 2026

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.

 

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SOURCE VIAVI Financials

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Mercuryo Recognised with Great Place to Work® Certification, Highlighting Strength of Its Remote-First Fintech Culture

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Certification reflects overwhelmingly positive employee feedback and a consistently high-trust culture across Mercuryo’s international team 

LONDON, June 19, 2026 /PRNewswire/ — Global payments infrastructure platform Mercuryo has been certified as a Great Place to Work across five key European markets. The recognition is based entirely on confidential employee feedback gathered through an independent survey administered by Great Place to Work, the global authority on workplace culture.

Employees across all five certified country locations rated Mercuryo above the global Great Place to Work benchmark, with country-level scores of Spain (92%), Croatia (91%), Serbia (89%), the United Kingdom (88%), and Cyprus (86%), reflecting consistently positive employee experiences across the organisation.

The achievement is particularly significant given Mercuryo’s remote-first operating model. With employees based across more than 30 countries, the company has focused on building a connected, high-trust culture that enables teams to collaborate effectively across borders, time zones and disciplines while maintaining the flexibility and autonomy that define the modern workplace.

Yulia Bogomolova, Chief Human Resource Officer at Mercuryo, said, “Building a strong culture is an ongoing commitment. We work hard to ensure every employee feels empowered, supported, and connected to our mission, regardless of location. These results demonstrate the strength of that commitment and the exceptional people who make Mercuryo what it is.”

Ashna Vaghela, Chief Customer Officer at Mercuryo, said, “There is a strong culture of ownership and trust at Mercuryo. People are encouraged to contribute ideas, take initiative, and help shape the future of the company.” Another added: “Despite working across different countries and time zones, there is a genuine sense of teamwork and transparency that makes Mercuryo a rewarding place to work.”

Today, Mercuryo’s team of more than 300 professionals supports a network of over 200+ B2B partnerships and serves more than seven million users worldwide. The company leverages a range of modern tools and technologies across operations, analytics, marketing, and product development to help teams work more efficiently, accelerate innovation, and focus on high-impact initiatives, while maintaining strong human oversight and accountability throughout.

The certification marks an important milestone for Mercuryo as it continues to expand its global team and strengthen its position as a leading provider of payments infrastructure connecting traditional and digital finance. As Mercuryo continues its global expansion, the company is actively recruiting talent across a range of positions including: product, engineering, compliance, marketing, and business development functions.

About Mercuryo 

Mercuryo is a leading payment infrastructure platform in the digital token space. Standing out in the decentralized ecosystem by enhancing payment use case growth and on-chain integration, Mercuryo’s intuitive and robust solutions are powering the next generation of Web3 payment services. Mercuryo’s innovative payment products such as Spend bridge the gap between TradFi, Web2 and Web3. Mercuryo is the proud partner of leading pillars in the digital token economy such as Trust Wallet, Ledger and MetaMask, along with Revolut, Mastercard and Visa. Driven by an evolving product suite, Mercuryo is expanding further and continuing to innovate with a diversified stack of payment services. 

Learn more at: https://mercuryo.io/ 

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SOURCE Mercuryo

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Trupeer AI Appoints Former UiPath APAC President & CEO Raghu Subramanian to Accelerate UK Enterprise Growth

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LONDON, June 19, 2026 /PRNewswire/ — Trupeer AI, the workflow knowledge layer for teams and AI agents, today announced the appointment of Raghu Subramanian as President and Chief Business Officer as the company accelerates its expansion in the United Kingdom, one of Europe’s most knowledge-intensive enterprise markets. Backed by RTP Global, Salesforce Ventures and trusted by more than 50,000 teams in over 100 countries, Trupeer is strengthening its leadership team to scale adoption across enterprises, financial and professional services firms, and technology-enabled business services companies.

The United Kingdom represents a strategic priority for Trupeer. London’s financial services and professional services sectors rank among the most compliance-documented, knowledge-intensive industries anywhere in the world, where process knowledge is a regulatory artifact, not a nice-to-have. UK enterprises are also among Europe’s largest buyers of global business services, operating capability centres across multiple countries, placing them squarely on the demand side of the cross-border knowledge distribution challenge Trupeer is built to solve. For organisations managing teams and processes across geographies, the ability to capture knowledge once and deploy it in 120+ languages is operational infrastructure, not a feature. The depth of this opportunity is already visible in Trupeer’s deployments: a FTSE 100 company used the platform to train thousands of employees across a multi-country IT transformation, saving over 9,000 hours in the process.

Raghu joins from a distinguished career at the forefront of enterprise automation. As a founding member of the management team at UiPath, he was part of the core executive team that helped build the company into a $35+ billion NYSE-listed enterprise. He established UiPath’s India operations in 2016 and later served as President & CEO for India and APAC. Bringing over 25 years of enterprise technology leadership, Raghu has built and scaled enterprise businesses across global markets, with deep expertise in automation, business process management, and enterprise AI adoption. Prior to joining UiPath, he served as CTO of EXL Service.

At Trupeer, he will lead the company’s next phase of commercial expansion, with a sharp focus on UK-headquartered enterprises and the demand side of European global capability centre networks. Trupeer’s platform transforms unstructured, multimodal workflows into SOPs, guides, training assets, studio-quality videos, and continuously updated, AI-ready context for employees and intelligent agents, delivering knowledge transfer in 120+ languages.

Shivali Goyal, CEO and Co-Founder, Trupeer AI, said, “Raghu has spent decades helping organisations adopt and scale transformative technologies and brings deep experience in building enterprises globally. Having seen first-hand the challenges enterprises face in organisational knowledge and agentic AI enablement, Raghu immediately resonated with our vision and the momentum Trupeer has built globally. His expertise will help us strengthen our commercial capabilities, deepen partnerships, and unlock the next phase of growth at Trupeer.”

Raghu Subramanian, President and Chief Business Officer, Trupeer AI, said, “Enterprises have long struggled to get real value from AI, and the reason is fragmented context. The knowledge that makes AI useful sits trapped in people’s heads and scattered across tools. In the agentic AI era, where agents are only as good as the context they run on, that gap becomes the difference between AI that works and doesn’t. This is the gap Trupeer was built to close. I look forward to partnering with enterprises and organisations across the globe to build the context layer that makes enterprise knowledge structured, accessible, and actionable, and AI genuinely useful.”

About Trupeer

Trupeer AI is the workflow knowledge layer for enterprises that enables teams and AI agents. The company helps organizations capture critical operational knowledge that is often trapped in the minds of subject matter experts and scattered across tools, transforming it into structured, accessible, and queryable knowledge. Its platform captures enterprise workflows and turns unstructured, multimodal input into SOPs, guides, studio-quality videos, training assets into 120+ languages and continuously updated, AI-ready context that intelligent agents can leverage, making institutional knowledge accessible, actionable, and queryable. Backed by RTP Global and Salesforce Ventures, Trupeer supports more than 50,000 teams in over 100 countries, including Fortune 100 enterprises, Global Capability Centers and technology-enabled business services companies.

Further details: https://www.trupeer.ai/

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Resilience Actions, a Re Sustainability Initiative, Launches ECOHUB.IN to Power India’s Climate and Circular Economy Innovation Ecosystem

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HYDERABAD, India, June 19, 2026 /PRNewswire/ — Resilience Actions, the social and environmental impact initiative of Re (Re Sustainability), has launched ECOHUB.IN, a sustainability-focused incubator designed to support early-stage enterprises working in climate and clean-tech, pollution management, resource efficiency, circular economy, and sustainability innovation.

The initiative is aimed at startups that have moved beyond the ideation stage and are ready for commercial scale, with a working Minimum Viable Product (MVP), a committed team, and a clearly defined market opportunity.

As India advances towards a low-carbon and circular economy, the demand for innovative sustainability solutions continues to grow. However, many promising ventures face challenges in scaling due to limited access to mentorship, catalytic capital, industry partnerships, pilot opportunities, and business validation. ECOHUB.IN has been established to bridge these gaps and help transform high-potential sustainability ventures into scalable businesses capable of delivering measurable environmental and social impact.

Through the incubator, participating startups will gain access to mentorship, technical and business advisory support, investment-readiness assistance, pilot-to-commercial pathways, ecosystem partnerships, and opportunities for industry integration. A key differentiator of ECOHUB.IN is its connection to Re’s extensive operational ecosystem, enabling selected ventures to engage with domain experts, validate solutions in real-world environments, and explore pathways for commercial deployment and scale.

Commenting on the launch, Masood Mallick, Managing Director and Group CEO, Re (Re Sustainability), said:

“India’s sustainability transition will not be driven by infrastructure alone. It will be driven by innovation, entrepreneurship, and the ability to scale ideas that solve real environmental challenges. Through ECOHUB.IN, we are creating a platform that brings together innovators, startups, industry leaders, investors, academia, and policymakers to accelerate solutions that are commercially viable, environmentally responsible, and capable of delivering measurable impact.

India has no shortage of ideas. What is often missing is the ecosystem that helps transform those ideas into scalable enterprises. ECOHUB.IN is designed to bridge that gap by providing mentorship, industry access, business validation, and pathways to commercial adoption. By combining the strengths of innovation with the experience and operational ecosystem of Re Sustainability, we hope to enable the next generation of climate and circular economy entrepreneurs to build solutions that contribute meaningfully to India’s sustainability journey and create lasting value for society, industry, and the planet.”

Over time, ECOHUB.IN aims to strengthen India’s sustainability innovation ecosystem by supporting ventures that reduce pollution, improve resource efficiency, advance circularity, create green jobs, enable decarbonization, and contribute to a more resilient future.

Applications for the inaugural cohort will open shortly through ECOHUB.IN.

About Resilience Actions

Resilience Actions is the social and environmental impact initiative of Re Sustainability, focused on building resilient communities through sustainability, innovation, capacity building, and ecosystem partnerships.

Learn more: resilience.org.in | ecohub.in 

About Re Sustainability

Re Sustainability (Re), a KKR company, is one of Asia’s leading providers of integrated environmental and sustainability solutions, delivering waste management, circular economy, water, remediation, and sustainability infrastructure solutions across India and international markets.

Learn more: resustainability.com

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SOURCE Re Sustainability Limited

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