Overall Income of $88.4 million; Up 1.7% Future-Over-Future

Adjusted EBITDA of $(7.7) million

Non-GAAP Diluted Profits in line with Percentage of $(0.87)

AUSTIN, Texas, Nov. 5, 2024 /PRNewswire/ — Aviat Networks, Inc. (“Aviat Networks,” “Aviat,” or the “Company”), (Nasdaq: AVNW), the well-known professional in wi-fi shipping and get entry to answers, as of late reported monetary effects for its fiscal 2025 first quarter ended September 27, 2024.

First Quarter Highlights

• Endured to realize percentage of call for in North The united states in line with FCC submitting information
• Closed acquisition of 4RF and connect first form for unused Aprisa 5G mobile router to a North American use corporate
• Started delivery product to lately gained state-wide non-public community buyer at the East Coast

First Quarter Monetary Highlights

• Overall Revenues: $88.4 million, up 1.7% from the similar quarter latter future
• GAAP Effects: Rude Margin 22.4%; Running Bills $35.4 million; Running Loss $(15.6) million; Internet Loss $(11.9) million; Internet Loss in line with diluted percentage (“Net Loss per share”) $(0.94)
• Non-GAAP Effects: Adjusted EBITDA $(7.7) million; Rude Margin 23.2%; Running Bills $30.0 million; Running Loss $(9.5) million; Internet Loss $(11.1) million; Internet Loss in line with percentage $(0.87)
• Internet money and money equivalents: $51.0 million; money internet of debt: $(32.3) million

Fiscal 2025 First Quarter and 3 Months Ended September 27, 2024

Revenues

The Corporate reported general revenues of $88.4 million for its fiscal 2025 first quarter, in comparison to $86.9 million within the fiscal 2024 first quarter, an building up of $1.5 million or 1.7%. North The united states earnings of $42.2 million diminished by means of $(12.6) million or (23.0)%, in comparison to $54.9 million within the prior future due decrease tier 1 call for and timing of positive non-public community tasks. World earnings of $46.2 million greater by means of $14.1 million or 44.1%, in comparison to $32.1 million within the prior future. This expansion was once because of the addition from the Pasolink acquisition.

Rude Margins

Within the fiscal 2025 first quarter, the Corporate reported GAAP rude margin of twenty-two.4% and non-GAAP rude margin of 23.2%. This compares to GAAP rude margin of 35.9% and non-GAAP rude margin of 36.2% within the fiscal 2024 first quarter, a shorten of (1,350) and (1,300) foundation issues, respectively. The shorten was once pushed by means of combine shift clear of upper margin tasks and areas within the quarter.

Running Bills

The Corporate reported GAAP general working bills of $35.4 million for the fiscal 2025 first quarter, in comparison to $26.3 million within the fiscal 2024 first quarter, an building up of $9.1 million or 34.4%. Non-GAAP general working bills, except for the affect of restructuring fees, share-based reimbursement, and merger and acquisition bills for the fiscal 2025 first quarter had been $30.0 million, in comparison to $23.9 million within the prior future, an building up of $6.2 million or 25.8%.

Running Source of revenue

The Corporate reported GAAP working lack of $(15.6) million for the fiscal 2025 first quarter, in comparison to a GAAP working source of revenue of $4.9 million within the fiscal 2024 first quarter, a shorten of $(20.5) million. Running source of revenue diminished basically because of decrease rude margin and better working bills because of the Pasolink and 4RF transactions. On a non-GAAP foundation, the Corporate reported working lack of $(9.5) million for the fiscal 2025 first quarter, in comparison to a non-GAAP working source of revenue of $7.6 million within the prior future, a shorten of $(17.1) million.

Source of revenue Taxes

The Corporate reported GAAP source of revenue tax good thing about $(5.5) million within the fiscal 2025 first quarter, in comparison to a GAAP source of revenue tax expense of $0.4 million within the fiscal 2024 first quarter.

Internet Source of revenue / Internet Source of revenue According to Percentage

The Corporate reported GAAP internet lack of $(11.9) million within the fiscal 2025 first quarter or GAAP internet loss in line with percentage of $(0.94). This in comparison to GAAP internet source of revenue of $3.6 million or GAAP internet source of revenue in line with percentage of $0.30 within the fiscal 2024 first quarter. On a non-GAAP foundation, the Corporate reported internet lack of $(11.1) million or non-GAAP internet source of revenue in line with percentage of $(0.87), in comparison to non-GAAP internet source of revenue of $7.2 million or $0.60 in line with percentage within the prior future.

Adjusted EBITDA

Adjusted profits sooner than pastime, tax, depreciation and amortization (“Adjusted EBITDA”) for the fiscal 2025 first quarter was once $(7.7) million, in comparison to $8.9 million within the fiscal 2024 first quarter, a shorten of $(16.6) million.

Stability Sheet Highlights

The Corporate reported $51.0 million in money and money equivalents as of September 27, 2024, in comparison to $64.6 million as of June 28, 2024. As of September 27, 2024, general debt was once $83.4 million, an building up of $35.0 million from June 28, 2024.

Fiscal 2025 Complete Future Outlook

The Corporate is updating its fiscal 2025 complete future steering as follows:

• Complete future Income between $430 and $470 million
• Complete future Adjusted EBITDA between $30.0 and $40.0 million

Convention Name Main points

Aviat Networks will host a convention name at 4:30 p.m. Jap Past (ET) as of late, November 5, 2024, to talk about its monetary and operational effects for the fiscal 2025 first quarter ended September 27, 2024. Collaborating at the name shall be Peter Smith, President and Eminent Govt Officer; Michael Connaway, Sr. Vice President and Eminent Monetary Officer; and Andrew Fredrickson, Director of Company Building and Investor Members of the family. Following control’s remarks, there shall be a query and resolution era.

events would possibly get entry to the convention name are living by the use of the webcast thru Aviat Community’s Investor Members of the family site at investors.aviatnetworks.com/events-and-presentations/events, or would possibly take part by the use of phone by means of registering the usage of this online form. As soon as registered, phone contributors will obtain the dial-in quantity in conjunction with a novel PIN quantity that will have to be impaired to get entry to the decision. A replay of the convention name webcast shall be to be had upcoming the decision at the Corporate’s investor family members site.

About Aviat Networks

Aviat Networks, Inc. is the well-known professional in wi-fi shipping and get entry to answers and works to lend unswerving merchandise, services and products and assistance to its consumers. With a couple of million programs offered into 170 international locations international, communications carrier suppliers and personal community operators together with circumstance/native govt, use, federal govt and protection organizations consider Aviat with their important packages. Coupled with an extended historical past of microwave inventions, Aviat supplies a complete suite of localized skilled and assistance services and products enabling consumers to enormously simplify each their networks and their lives. For greater than 70 years, the mavens at Aviat have delivered top functionality merchandise, simplified operations, and the most productive general buyer revel in. Aviat is headquartered in Austin, Texas. For more info, seek advice from www.aviatnetworks.com or fix with Aviat Networks on Facebook and LinkedIn.

Ahead-Taking a look Statements

The ideas contained on this Stream File on Mode 8-Okay contains forward-looking statements throughout the that means of the preserve harbor provisions of the U.S. Non-public Securities Litigation Reform Occupation of 1995, together with Aviat’s ideals and expectancies referring to outlook, trade situations, unused product answers, buyer positioning, life orders, bookings, unused word of honour, price construction, profitability in fiscal 2025, its contemporary acquisitions and acquisition technique, procedure enhancements, measures designed to reinforce inner controls, its talent to guard efficient inner regulate over monetary reporting and control programs and remediate subject matter weaknesses, plans and goals of control, realignment plans and evaluate of strategic choices and expectancies referring to life earnings, rude margin, Adjusted EBITDA, working source of revenue or profits or loss in line with percentage. All statements, pattern analyses and alternative knowledge contained herein in regards to the foregoing ideals and expectancies, in addition to in regards to the markets for the services and products and merchandise of Aviat and developments in earnings, and alternative statements known by means of the virtue of forward-looking terminology, together with “anticipate,” “believe,” “plan,” “estimate,” “expect,” “goal,” “will,” “see,” “continue,” “delivering,” “view,” and “intend,” or the detrimental of those phrases or alternative alike expressions, represent forward-looking statements. Ahead-looking statements are neither ancient info nor promises of life functionality. Rather, forward-looking statements are in line with estimates reflecting the wave ideals, expectancies and guesses of the senior control of Aviat in regards to the life of its trade, life plans and methods, projections, expected occasions and developments, the economic system and alternative life situations. Such forward-looking statements contain quite a lot of dangers and uncertainties that would purpose latest effects to fluctuate materially from the ones instructed by means of the forward-looking statements. Ahead-looking statements will have to subsequently be thought to be in luminous of diverse notable components, together with the ones poised forth on this record. Subsequently, you will have to now not depend on any of those forward-looking statements.

Noteceable components that would purpose latest effects to fluctuate materially from estimates or projections contained within the forward-looking statements come with please see: the disruption the 4RF and NEC transactions would possibly purpose to consumers, distributors, trade companions and our ongoing trade; our talent to combine the operations of the obtained 4RF and NEC companies with our current operations and entirely notice the predicted synergies of the 4RF and NEC transactions at the anticipated timeline; disruptions in the case of the continued struggle between Russia and Ukraine and the struggle in Israel and environment gardens; endured worth and margin erosion within the microwave transmission trade; the affect of the quantity, timing, and buyer, product, and geographic mixture of our product orders; our talent to satisfy monetary covenant necessities; the timing of our receipt of fee; our talent to satisfy product construction dates or expected price discounts of goods; our providers’ lack of ability to accomplish and ship on future, property shortages, or alternative provide chain constraints; the consequences of inflation; buyer acceptance of unused merchandise; the power of our subcontractors to well timed carry out; condition within the international economic system affecting buyer spending; retention of our key body of workers; our talent to supremacy and guard key buyer relationships; unsure financial situations within the telecommunications sector mixed with operator and provider consolidation; our failure to offer protection to our highbrow trait rights or shield in opposition to highbrow trait infringement claims; the result of our restructuring efforts; the consequences of foreign money and rate of interest dangers; the power to saving and virtue our internet working loss carryforwards; the consequences of wave and life govt rules; normal financial situations, together with unsureness in regards to the timing, era and extent of an financial medication in the USA and alternative international locations the place we habits trade; the habits of unethical trade practices in growing international locations; the affect of political turmoil in international locations the place we’ve got vital trade; our talent to appreciate the predicted advantages of any proposed or contemporary acquisitions; the affect of price lists, the adoption of industry restrictions affecting our merchandise or providers, a United States withdrawal from or vital renegotiation of industry words, the incidence of industry wars, the latter of border crossings, and alternative adjustments in industry rules or relationships; our talent to enforce our conserve repurchase program or that it’ll give a boost to long-term stockholder worth; and the affect of inauspicious trends affecting the monetary services and products trade, together with occasions or considerations involving liquidity, defaults or non-performance by means of monetary establishments.

For more info in regards to the dangers and uncertainties for Aviat’s trade, see “Risk Factors” in Aviat’s Mode 10-Okay for the fiscal future ended June 28, 2024 filed with the U.S. Securities and Change Fee (“SEC”) on October 4, 2024, in addition to alternative reviews filed by means of Aviat with the SEC from future to future. Aviat undertakes incorrect legal responsibility to replace publicly any forward-looking commentary, whether or not written or oral, for any reason why, excluding as required by means of legislation, whilst unused knowledge turns into to be had or alternative occasions happen going forward.

Investor Members of the family:
Andrew Fredrickson
Director, Company Building & Investor Members of the family
Telephone: (512) 582-4626
Electronic mail: [email protected]

SOURCE Aviat Networks, Inc.

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