Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers. Headquartered in Austin, Texas since November 2019, Aviat Networks has operations in North and South America, Africa, Asia Pacific, Europe and the Middle East.3 Its shares trade on Nasdaq under the symbol AVNW.1Wikipedia text CC BY-SA 4.0
Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue1011126$439.7M in 2026+80% since 2019Gross profit10131411126$138.3M in 2026+74% since 2019Operating income10131411126$19.2M in 2026+1306% since 2019Net income10131411126$2.5M in 2026−74% since 2019
Revenue151617$100.0M in Q3 FY2026−7% since Q1 FY2025Gross profit151617$29.3M in Q3 FY2026−18% since Q1 FY2025Operating income151617$939.0K in Q3 FY2026−82% since Q1 FY2025Net income151617-$2.1M in Q3 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
Period ending
2026-06-30
2025-06-30
2024-06-30
Total revenues
$439.7M
$434.6M
$408.1M
Total cost of revenues
$301.4M
$295.2M
$263.4M
Gross margin
$138.3M
$139.4M
$144.7M
Research and development
$28.4M
$35.8M
$36.4M
Selling and administrative
$88.5M
$89.5M
$85.0M
Restructuring charges
$2.1M
$3.6M
$3.9M
Total operating expenses
$119.1M
$128.9M
$125.3M
Operating income
$19.2M
$10.6M
$19.4M
Interest expense, net
$7.7M
$6.1M
$2.3M
Other (income) expense, net
-$1.7M
$941.0K
$158.0K
Income before income taxes
$13.2M
$3.6M
$16.9M
Provision for income taxes
$10.7M
$2.2M
$6.1M
Net income, basic
$2.5M
$1.3M
$10.8M
Net income, diluted
$2.5M
$1.3M
$10.8M
Net income attributable to Aviat Networks
$2.5M
$1.3M
$10.8M
Basic (in dollars per share)
$0.20
$0.11
$0.88
Diluted (in dollars per share)
$0.19
$0.10
$0.86
Basic (in shares)
12.8M shares
12.7M shares
12.2M shares
Diluted (in shares)
13.0M shares
12.8M shares
12.5M shares
No quarter-by-quarter statement was filed.
Total assets1810131411126$599.0M in 2026+254% since 2019Total liabilities1810131411126$331.6M in 2026+239% since 2019Shareholders’ equity131411126$267.4M in 2026+274% since 2019Cash18101312116$72.8M in 2026+128% since 2019Long-term debt11126$89.1M in 2026
Total assets151617$616.5M in Q3 FY2026−4% since Q1 FY2025Total liabilities151617$344.8M in Q3 FY2026−9% since Q1 FY2025Shareholders’ equity151617$271.8M in Q3 FY2026+3% since Q1 FY2025Cash151617$78.1M in Q3 FY2026+21% since Q1 FY2025Long-term debt151617$98.7M in Q3 FY2026−3% since Q1 FY2025
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.6
Period ending
2026-06-30
2025-06-30
2024-06-30
2023-06-30
2020-03-31
Cash and cash equivalents
$72.8M
$59.7M
Accounts receivable, net
$192.2M
$180.3M
Unbilled receivables
$82.1M
$105.9M
Inventories
$69.0M
$84.0M
Other current assets
$23.0M
$33.7M
Total current assets
$439.2M
$463.6M
Property, plant and equipment, net
$18.8M
$17.5M
Goodwill
$19.4M
$19.7M
Intangible assets, net
$23.6M
$26.9M
Deferred income taxes
$82.1M
$88.1M
Right-of-use assets
$2.0M
$3.1M
Other assets
$13.9M
$14.5M
Total assets
$599.0M
$633.3M
Accounts payable
$119.5M
$148.1M
Accrued expenses
$34.1M
$38.9M
Operating lease liabilities
$442.0K
$1.1M
Advance payments and unearned revenue
$59.9M
$73.7M
Other current liabilities
$1.2M
$1.8M
Current portion of long-term debt
$7.9M
$18.6M
Total current liabilities
$223.2M
$282.2M
Long-term debt
$89.1M
$69.0M
Unearned revenue
$9.0M
$8.1M
Long-term operating lease liabilities
$1.7M
$2.2M
Other long-term liabilities
$0
$430.0K
Reserve for uncertain tax positions
$5.3M
$3.2M
Deferred income taxes
$3.3M
$5.0M
Total liabilities
$331.6M
$370.1M
Preferred stock, $0.01 par value; 50.0 million shares authorized; none issued
$0
$0
Common stock, $0.01 par value; 300.0 million shares authorized; 12.8 million and 12.7 million shares issued and outstanding as of July 3, 2026 and June 27, 2025, respectively
$129.0K
$127.0K
Treasury stock, 0.4 million and 0.2 million shares as of July 3, 2026 and June 27, 2025, respectively
-$9.7M
-$7.1M
Additional paid-in-capital
$872.1M
$866.1M
Accumulated deficit
-$574.6M
-$577.2M
Accumulated other comprehensive loss
-$20.4M
-$18.8M
Total stockholders equity
$267.4M
$263.2M
$255.9M
$218.7M
Total liabilities and stockholders equity
$599.0M
$633.3M
Preferred stock par value (in dollars per share)
$0.01
$0.01
$0.01
Preferred stock, shares authorized (in shares)
50.0M shares
50.0M shares
Preferred stock, shares issued (in shares)
0 shares
0 shares
Common stock par value (in dollars per share)
$0.01
$0.01
$0.01
Common stock shares authorized (in shares)
300.0M shares
300.0M shares
Common stock, shares issued (in shares)
12.8M shares
12.7M shares
Common stock, shares outstanding (in shares)
12.8M shares
12.7M shares
Treasury stock (in shares)
400.0K shares
200.0K shares
Period ending
2026-06-30
2025-06-30
2024-06-30
2023-06-30
2020-03-31
Cash and cash equivalents
$72.8M
$59.7M
Accounts receivable, net
$192.2M
$180.3M
Unbilled receivables
$82.1M
$105.9M
Inventories
$69.0M
$84.0M
Other current assets
$23.0M
$33.7M
Total current assets
$439.2M
$463.6M
Property, plant and equipment, net
$18.8M
$17.5M
Goodwill
$19.4M
$19.7M
Intangible assets, net
$23.6M
$26.9M
Deferred income taxes
$82.1M
$88.1M
Right-of-use assets
$2.0M
$3.1M
Other assets
$13.9M
$14.5M
Total assets
$599.0M
$633.3M
Accounts payable
$119.5M
$148.1M
Accrued expenses
$34.1M
$38.9M
Operating lease liabilities
$442.0K
$1.1M
Advance payments and unearned revenue
$59.9M
$73.7M
Other current liabilities
$1.2M
$1.8M
Current portion of long-term debt
$7.9M
$18.6M
Total current liabilities
$223.2M
$282.2M
Long-term debt
$89.1M
$69.0M
Unearned revenue
$9.0M
$8.1M
Long-term operating lease liabilities
$1.7M
$2.2M
Other long-term liabilities
$0
$430.0K
Reserve for uncertain tax positions
$5.3M
$3.2M
Deferred income taxes
$3.3M
$5.0M
Total liabilities
$331.6M
$370.1M
Preferred stock, $0.01 par value; 50.0 million shares authorized; none issued
$0
$0
Common stock, $0.01 par value; 300.0 million shares authorized; 12.8 million and 12.7 million shares issued and outstanding as of July 3, 2026 and June 27, 2025, respectively
$129.0K
$127.0K
Treasury stock, 0.4 million and 0.2 million shares as of July 3, 2026 and June 27, 2025, respectively
-$9.7M
-$7.1M
Additional paid-in-capital
$872.1M
$866.1M
Accumulated deficit
-$574.6M
-$577.2M
Accumulated other comprehensive loss
-$20.4M
-$18.8M
Total stockholders equity
$267.4M
$263.2M
$255.9M
$218.7M
Total liabilities and stockholders equity
$599.0M
$633.3M
Preferred stock par value (in dollars per share)
$0.01
$0.01
$0.01
Preferred stock, shares authorized (in shares)
50.0M shares
50.0M shares
Preferred stock, shares issued (in shares)
0 shares
0 shares
Common stock par value (in dollars per share)
$0.01
$0.01
$0.01
Common stock shares authorized (in shares)
300.0M shares
300.0M shares
Common stock, shares issued (in shares)
12.8M shares
12.7M shares
Common stock, shares outstanding (in shares)
12.8M shares
12.7M shares
Treasury stock (in shares)
400.0K shares
200.0K shares
Cash from operations10131411126$13.6M in 2026+361% since 2019Capital spending10131411126$7.5M in 2026+42% since 2019Free cash flow10131411126$6.1M in 2026Share buybacks1013$0 in 2022
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
Period ending
2026-06-30
2025-06-30
2024-06-30
Net income
$2.5M
$1.3M
$10.8M
Depreciation of property, plant and equipment
$3.3M
$5.3M
$4.0M
Amortization of intangible assets
$2.9M
$2.7M
$1.0M
Provision for uncollectible receivables
$2.4M
$1.7M
$1.3M
Share-based compensation
$6.2M
$7.1M
$7.3M
Deferred taxes
$4.2M
$182.0K
$3.6M
Inventory write-downs
$2.7M
$2.4M
$4.0M
Non-cash lease expense
$1.2M
$1.5M
$948.0K
Other non-cash operating activities, net
$199.0K
$252.0K
$169.0K
Accounts receivable
-$14.2M
-$29.0M
-$9.3M
Unbilled receivables
$26.8M
-$15.3M
-$34.9M
Inventories
$11.9M
-$24.4M
$1.6M
Accounts payable
-$26.4M
$49.9M
$16.6M
Accrued expenses
-$7.7M
-$7.3M
$15.1M
Advance payments and unearned revenue
-$14.2M
$15.6M
$11.8M
Income taxes payable
$5.1M
$2.2M
$1.4M
Other assets and liabilities
$6.6M
-$8.6M
-$4.9M
Net cash provided by operating activities
$13.6M
$5.7M
$30.5M
Purchases of property, plant and equipment
-$7.5M
-$13.0M
-$2.7M
Purchases of marketable securities
-$1.7M
$0
-$925.0K
Proceeds from sale of marketable securities
$1.8M
$0
$538.0K
Proceeds from sale of assets held for sale
$0
$2.6M
$0
Acquisitions, net of cash acquired
$0
-$18.1M
-$32.2M
Net cash used in investing activities
-$7.3M
-$28.5M
-$35.2M
Proceeds from revolver
$100.0M
$95.0M
$33.2M
Repayments of revolver
-$105.0M
-$80.0M
-$33.2M
Proceeds from term loan
$20.0M
$75.0M
$50.0M
Repayments of term loan
-$5.5M
-$50.6M
-$1.2M
Payments of deferred financing costs
-$204.0K
-$529.0K
-$79.0K
Payments of deferred consideration for acquisitions
$0
-$18.6M
$0
Payments for repurchase of common stock treasury shares
-$2.7M
-$597.0K
-$332.0K
Payments for taxes related to net settlement of equity awards
-$822.0K
-$1.2M
-$696.0K
Proceeds from issuance of common stock under employee stock plans
$584.0K
$228.0K
$1.1M
Net cash provided by financing activities
$6.3M
$18.7M
$48.7M
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
$125.0K
$1.2M
-$1.6M
Net increase (decrease) in cash, cash equivalents and restricted cash
$12.7M
-$2.9M
$42.4M
Unpaid property, plant and equipment
$798.0K
$3.7M
$3.6M
Common stock issued in connection with acquisition
Aviat Networks sits at the top of its group. 51 entities, 36 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Aviat Networks
ROYCE & ASSOCIATES LPFiled SCHEDULE 13G/A on Aviat Networks, latest Oct 13, 2026 (7 filings since Jan 31, 2022)
VANGUARD GROUP INCFiled SCHEDULE 13G/A on Aviat Networks, latest Mar 26, 2026 (3 filings since Nov 4, 2024)
Aviat Networks Brasil Serviços em Comunicações Ltda. Subsidiary · Brazil
Aviat Networks Canada ULC Subsidiary · Canada
and 25 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.
What it owns
What Aviat Networks reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
The Company leases office space, assembly facilities, repair and service centers, and warehouses in multiple locations in the United States and internationally. Aviat’s corporate headquarters is in Austin, Texas and most of its locations based in the United States are in Texas. Internationally, the Company leases facilities throughout Europe, North America, Africa and Asia. Refer to Note 4. Leases and Note 5. Balance Sheet Components of the Notes to the consolidated financial statements in this Annual Report on Form 10-K for further information.
The company was founded on January 29, 2007 with the merger of Harris Corporation’s Microwave Communications Division and Stratex Networks and incorporated under the name Harris Stratex Networks. The company renamed and rebranded itself to become Aviat Networks on January 28, 2010.
Stratex Networks was the new name for Digital Microwave Corporation (DMC) which was founded in 1984 in San Jose, California.
In February 2009, Harris Stratex acquired Telsima, developer and provider of WiMAX Forum Certified products for use in next-generation broadband wireless networks, for $12 million. In September 2008, Harris Stratex announced a partnership agreement with Telsima for end-to-end 4G network solutions.
In July 2022, Aviat completed the acquisition of Redline Communications, a provider of data infrastructure equipment.
Name and ticker symbol change
On January 28, 2010, at the opening of the Nasdaq trading session, Harris Stratex Networks announced they had renamed their company to become Aviat Networks. Along with the name change the company unveiled new corporate branding with a new company logo and relaunch of the corporate website. The company also changed their NASDAQ ticker symbol to AVNW. The new symbol began trading on the morning of January 29, 2010, retiring the old HSTX; this date also marked the company's third anniversary since incorporation.
General counselJuan OteroJan 26, 2007 to Nov 24, 200874
Products and brands
Aviat's portfolio of wireless products encompasses microwave and millimeter wave bands between 5 and 80 GHz. Architectures supported include split-mount (indoor/outdoor), all-outdoor and all-indoor radio designs to accommodate operators' specific needs.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
312 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 78 major events, 146 insider forms, 17 large holders, 51 other. The latest 20:
35 open-market trades by officers, directors and large owners since October 2021: 12 buys and 23 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
Year
Executive
Age
Salary
Total pay
2026
Peter A. SmithDirector, President and Chief Executive Officer
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Aug 27, 2026 (Section 12(b) of the Exchange Act).19
Risk factors and legal proceedings
The risks Aviat Networks names in Item 1A of its 10-K filed Aug 27, 2026: 36 risks under these headings, as written.19
Business and Operational Risk Factors
Financial and Macroeconomic Risk Factors
Legal and Regulatory Risk Factors
General Risk Factors
Our sales cycle may be lengthy, and the timing of sales, along with additional services such as network design, installation and implementation of our products within our customers’ networks, may extend over more than one period, which can make our operating results more volatile and difficult to predict and can complicate the proper recognition of revenue on more complex sales transactions.
Our success will depend on new products introduced to the marketplace in a timely manner, successfully completing product transitioning and achieving customer acceptance.
We rely on various third-party service partners to help complement our global operations, and failure to adequately manage these relationships could adversely impact our financial results and relationships with customers.
We continually evaluate the optimal mix and location of our manufacturing assets and our third-party contract manufacturer assets, and any movement or re-allocation of these manufacturing assets may not be successful, could disrupt our operations, cause us to incur increased costs, and adversely affect our business and our operating results.
We must respond to rapid technological change and comply with evolving industry standards and requirements for our products to be successful.
Our development and use of AI and ML technologies, and their use by our competitors, customers, and threat actors, present operational, competitive, legal and reputational risks.
Our average sales prices may decline in the future.
Credit and commercial risks and exposures could increase if the financial condition of our customers declines.
The other 28 risks
Our restructuring actions could harm our relationships with our employees and impact our ability to recruit new employees.
Our business could be adversely affected if we are unable to attract and retain key personnel.
We face strong competition for maintaining and improving our position in the market, which can adversely affect our revenue growth and operating results.
Our ability to sell our products and compete successfully is highly dependent on the quality of our customer service and support, and our failure to offer high quality service and support could have a material adverse effect on our sales and results of operations.
Product performance problems, including undetected errors in our hardware or software, or deployment delays could harm our business and reputation.
If we fail to accurately forecast our manufacturing requirements or customer demand, we could incur additional costs, which would adversely affect our business and results of operations.
If we fail to effectively manage our contract manufacturer relationships, we could incur additional costs or be unable to timely fulfill our customer commitments, which would adversely affect our business and results of operations and, in the event of an inability to fulfill commitments, would harm our customer relationships.
We depend on sole or limited sources and geographies for some key components and failure to receive timely delivery of any of these components could result in deferred or lost sales.
Because a significant amount of our revenue may come from a limited number of customers, the termination of any of these customer relationships may adversely affect our business.
We continually evaluate strategic transaction opportunities which could involve merger, divestiture, sale and/or acquisition activities that could disrupt our operations and harm our operating results, and may require management to devote significant attention and resources to achieve strategic transactions.
Due to the volume of our international sales, we may be susceptible to a number of political, economic, financial and geographic risks that could harm our business.
There are inherent limitations on the effectiveness of our controls and if we fail to implement and maintain effective internal control over financial reporting, it could adversely impact our business, results of operations, investor confidence and our stock price.
We may not be able to obtain capital when desired on favorable terms, if at all, or without dilution to our stockholders.
The effects of global or market specific financial and economic conditions in certain markets and of certain economies and sovereign states have had, and may continue to have, significant effects on our customers and suppliers, and has in the past, and may in the future have, a material adverse effect on our business, operating results, financial condition and stock price.
Changes in tax laws, treaties, rulings, regulations or agreements, or their interpretation in any country in which we operate; any loss of a material tax dispute; a successful challenge to our operating structure, intercompany pricing policies or the taxable presence of our key subsidiaries in certain countries; or other factors could cause volatility in our effective tax rate and could adversely affect our operating results.
Our ability to use net operating loss carryforwards to offset future taxable income for U.S. federal income tax purposes and other tax benefits may be limited.
Geopolitical tensions, armed conflicts, changes in trade policies, and disruptions to global supply chains may adversely affect our business, financial condition, and results of operations.
If we are unable to adequately protect our intellectual property rights, we may be deprived of legal recourse against those who misappropriate our intellectual property.
If sufficient radio frequency spectrum is not allocated for use by our products, or we fail to obtain regulatory approval for our products, our ability to market our products may be restricted.
Our products are used in critical communications networks which may subject us to significant liability claims.
We may be subject to litigation regarding our intellectual property. This litigation could be costly to defend and resolve and could prevent us from using or selling the challenged technology.
We are subject to laws, rules, regulations and policies regarding data privacy and cybersecurity. Many of these laws and regulations are subject to change and reinterpretation, and could result in claims, changes to our business practices, monetary penalties, increased cost of operations, reputational damage or other harm to our business.
We are subject to complex federal, state, local and international laws and regulations related to protection of the environment that could materially and adversely affect the cost, manner or feasibility of conducting our operations, as well as those of our suppliers and contract manufacturers.
Increased attention to ESG matters, conservation measures and climate change issues has contributed to an evolving state of regulation, which could impact our results of operations, financial or competitive position and may adversely impact our business.
Anti-takeover provisions of Delaware law, our Tax Benefit Preservation Plan, and provisions in our Amended and Restated Certificate of Incorporation, as amended, and Amended and Restated Bylaws could make a third-party acquisition of us difficult.
Natural disasters or other catastrophic events such as terrorism and war could have an adverse effect on our business.
System security risks, data protection breaches, and cyberattacks could compromise our proprietary information, disrupt our internal operations and harm public perception of our products, which could cause our business and reputation to suffer and adversely affect our stock price.
Negative reports could harm our reputation, cause us to incur significant costs or impact our operations, and could materially adversely affect our business and stock price.
Legal proceedings
For a discussion of legal proceedings as of July 3, 2026, refer to “Legal Proceedings” and “Contingent Liabilities” under Note 13. Commitments and Contingencies of the Notes to the consolidated financial statements in this Annual Report on Form 10-K.
