AVIAT NETWORKS, INC. AVNW

Technology SIC 3663 - Radio & Tv Broadcasting & Communications Equipment NAICS Manufacturing › Computer and Electronic Product Manufacturing › Communications Equipment Manufacturing › Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing derived Nasdaq

Aviat Networks, Inc., together with its subsidiaries, is a global supplier of microwave networking and wireless access networking solutions, backed by an extensive suite of professional services and support. Aviat Networks, Inc. may be referred to as "the Company," "AVNW," "Aviat Networks," "Aviat," "we," "us" and "our" in this Annual Report on Form 10-K.

Aviat was incorporated in Delaware in 2006 to combine the businesses of Harris Corporation's Microwave Communications Division ("MCD") and Stratex Networks, Inc. ("Stratex"). On January 28, 2010, we changed our corporate name from Harris Stratex Networks, Inc. to Aviat Networks, Inc.

Aviat's principal executive offices are located at 200C Parker Dr., Suite 100A, Austin, Texas 78728, and its telephone number is (512) 265-3680. Aviat's common stock is listed on the NASDAQ Global Select Market under the symbol AVNW. As of July 3, 2026, the Company had 900 employees.

Last close 19.17 2026-10-23
Market cap $245.4M 2026-07-03 share count
52-week range 13.92 - 27.02

Valuation FY2026 figures against the last close

P/S0.6x
P/E100.9x
P/FCF40.3x
EV/EBITDA12.0x
Dividend yield—
Diluted EPS0.19

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • North America
  • Latin America and Asia Pacific
  • Africa and Middle East
  • Europe
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2026 North America, FY2026: 220M (50.0%) 50% North America Latin America and Asia Pacific, FY2026: 119.7M (27.2%) 27% Latin America and Asia Pacific Africa and Middle East, FY2026: 58M (13.2%) 13% Europe, FY2026: 42M (9.6%) 10% Europe FY2025 North America, FY2025: 207.6M (47.8%) 48% Latin America and Asia Pacific, FY2025: 145.9M (33.6%) 34% Africa and Middle East, FY2025: 49.4M (11.4%) 11% Europe, FY2025: 31.7M (7.3%) 7% FY2024 North America, FY2024: 206.1M (50.5%) 50% Latin America and Asia Pacific, FY2024: 128.5M (31.5%) 31% Africa and Middle East, FY2024: 48.9M (12.0%) 12% Europe, FY2024: 24.6M (6.0%) 6%
Region FY2026FY2025FY2024
North America $220.0M $207.6M $206.1M
Latin America and Asia Pacific $119.7M $145.9M $128.5M
Africa and Middle East $58.0M $49.4M $48.9M
Europe $42.0M $31.7M $24.6M

As the company reported it, from the “Segment and Geographic Information (Schedule of Revenue by Region) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $439.7M$434.6M$408.1M$344.4M$303.0M$274.9M$238.6M$243.9M$242.5M$241.9M
Cost of revenue $301.4M$295.2M$263.4M$222.1M$193.7M$172.3M$153.9M$164.6M$162.0M$166.4M
Gross profit $138.3M$139.4M$144.7M$122.4M$109.2M$102.6M$84.7M$79.3M$80.5M$75.5M
R&D $28.4M$35.8M$36.4M$24.9M$22.6M$21.8M$19.3M$21.1M$19.8M$18.7M
SG&A $88.5M$89.5M$85.0M$69.8M$57.7M$56.3M$58.0M$56.1M$58.2M$57.2M
Total operating expenses $119.1M$128.9M$125.3M$97.8M$80.5M$80.4M$81.3M$77.9M$79.2M$76.5M
Operating income $19.2M$10.6M$19.4M$24.6M$28.7M$22.2M$3.4M$1.4M$1.3M-$985.0K
Interest expense —————$0$54.0K$102.0K$29.0K$50.0K
Pre-tax income $13.2M$3.6M$16.9M$21.3M$30.4M$22.4M$3.7M$1.6M$1.3M-$605.0K
Income tax $10.7M$2.2M$6.1M$11.1M$9.3M$87.7M$3.5M$8.2M$1.0M$16.0K
Net income $2.5M$1.3M$10.8M$10.2M$21.2M$110.1M$257.0K$9.7M$1.8M-$823.0K
EPS, basic 0.200.110.880.901.899.980.020.910.35-0.16
EPS, diluted 0.190.100.860.861.799.420.020.870.33-0.16
Shares, diluted (wtd. avg.) 13.0M12.8M12.5M11.9M11.8M11.7M10.9M11.2M5.6M5.3M

Balance sheet

Fiscal year FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $72.8M$59.7M$64.9M$22.5M$37.1M$48.2M$41.9M$32.2M$37.8M$36.6M
Short-term investments ———$2.0K$10.9M$0——$0$264.0K
Receivables $192.2M$180.3M$158.0M$100.9M$73.2M$48.1M$44.7M$51.9M$45.6M$45.9M
Inventory ———————$8.6M$21.3M$21.8M
Total current assets $439.2M$463.6M$405.2M$235.9M$206.4M$170.2M$139.9M$126.0M$123.5M$124.6M
Property, plant and equipment $18.8M$17.5M$9.5M$9.5M$8.9M$11.7M$16.9M$17.3M$17.2M$16.4M
Goodwill $19.4M$19.7M$8.2M$5.1M$0—————
Other intangibles $23.6M$26.9M$13.6M$9.0M$0—————
Total assets $599.0M$633.3M$535.2M$363.1M$323.9M$297.7M$179.8M$169.2M$156.1M$152.6M
Accounts payable $119.5M$148.1M$92.9M$60.1M$42.4M$32.4M$32.0M$35.6M$30.9M$33.6M
Short-term debt $7.9M$18.6M$2.4M$0—$0$9.0M$9.0M$9.0M$9.0M
Total current liabilities $223.2M$282.2M$218.9M$130.1M$104.5M$96.4M$94.0M$82.2M$86.5M$86.0M
Long-term debt $89.1M$69.0M$46.0M$0——————
Total liabilities $331.6M$370.1M$279.3M$144.4M$122.2M$114.3M$111.1M$97.7M$98.5M$98.2M
Retained earnings -$574.6M-$577.2M-$578.5M-$589.3M-$599.4M-$620.6M-$730.7M-$731.0M-$740.7M-$748.2M
Total equity $267.4M$263.2M$255.9M$218.7M$201.8M$183.3M$68.7M$71.5M$57.5M$54.3M

Cash flow

Fiscal year FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $13.6M$5.7M$30.5M-$1.6M$2.8M$17.3M$17.5M$2.9M$8.2M$9.4M
Depreciation and amortisation $3.3M$5.3M$4.0M$5.5M$4.5M$5.4M$4.4M$4.5M$5.2M$5.8M
Stock-based compensation $6.2M$7.1M$7.3M$6.7M$3.8M$2.9M$1.7M$1.7M$2.4M$2.1M
Capital expenditure $7.5M$13.0M$2.7M$5.3M$1.8M$2.8M$4.6M$5.2M$6.6M$4.0M
Investing cash flow -$7.3M-$28.5M-$35.2M-$11.9M-$7.8M-$2.8M-$4.6M-$5.2M-$6.3M-$4.0M
Financing cash flow $6.3M$18.7M$48.7M-$681.0K-$4.9M-$8.0M-$2.5M-$3.0M$12.0K$21.0K
Buybacks $2.7M$598.0K$332.0K$0$5.4M$787.0K$1.8M$2.3M$8.0K$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-059187.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2017: 241.9M Gross profit, FY2017: 75.5M Net income, FY2017: -823K Revenue, FY2018: 242.5M Gross profit, FY2018: 80.5M Net income, FY2018: 1.8M Revenue, FY2019: 243.9M Gross profit, FY2019: 79.3M Net income, FY2019: 9.7M Revenue, FY2020: 238.6M Gross profit, FY2020: 84.7M Net income, FY2020: 257K Revenue, FY2021: 274.9M Gross profit, FY2021: 102.6M Net income, FY2021: 110.1M Revenue, FY2022: 303M Gross profit, FY2022: 109.2M Net income, FY2022: 21.2M Revenue, FY2023: 344.4M Gross profit, FY2023: 122.4M Net income, FY2023: 10.2M Revenue, FY2024: 408.1M Gross profit, FY2024: 144.7M Net income, FY2024: 10.8M Revenue, FY2025: 434.6M Gross profit, FY2025: 139.4M Net income, FY2025: 1.3M Revenue, FY2026: 439.7M Gross profit, FY2026: 138.3M Net income, FY2026: 2.5M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue $241.9M $242.5M $243.9M $238.6M $274.9M $303.0M $344.4M $408.1M $434.6M $439.7M
Gross profit $75.5M $80.5M $79.3M $84.7M $102.6M $109.2M $122.4M $144.7M $139.4M $138.3M
Net income -$823.0K $1.8M $9.7M $257.0K $110.1M $21.2M $10.2M $10.8M $1.3M $2.5M

Recent filings and events

  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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