Viavi Solutions(NASDAQ) VIAV

**Viavi Solutions** makes tools to test and fix communication networks. These products help phone companies and data centers keep people connected. The company also creates special coatings to prevent fake money.

Inside the Toolbox

• Network and Service Enablement: Tools for building and fixing fiber and wireless networks; accounts for 77.9% of net revenue.
• Optical Security and Performance Products: Pigments for banknotes and filters for 3D sensors; represents 22.1% of net revenue.
• Aerospace and Defense Test: Equipment for mission-critical communications and flight safety systems used by military and commercial customers.
• Cloud and Data Center Solutions: High-speed testing for hardware powering artificial intelligence and large computing centers.

Growing the Business

• Acquired certain businesses from Spirent Communications in October 2025 to expand high-speed Ethernet testing.
• Integrated Inertial Labs in fiscal year 2025 to grow in the aerospace and defense markets.
• Raised $557.1 million through a public stock offering in May 2026 to repay debt.
• Launched a restructuring plan in fiscal year 2026 to save $30.0 million annually.

What Sets Viavi Apart?

Viavi uses advanced optical coatings to protect banknotes for more than 100 countries. It maintains manufacturing facilities in the United States, Europe, and China to support global infrastructure.

Checking the Books

• Net revenue reached $1.5 billion in fiscal year 2026, up 40.0% year over year.
• Non-GAAP operating margin increased to 20.6% in fiscal year 2026, up 630 basis points.
• Non-GAAP diluted earnings per share hit $1.00 in fiscal year 2026, up 112.8% year over year.
• Operating cash flow was $113.9 million for the fiscal year ended June 27, 2026.

The Final Word

Viavi has evolved from its origins as JDS Uniphase to support advanced data centers and secure currency. Its shift into high-growth technology markets helps the company stay relevant as infrastructure needs change.