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Viavi Solutions (VIAV) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Nov 5, 2026 · Viavi Solutions (VIAV) Q1 FY27 earnings results →

Q1 FY27 Revenue up 57% year over year to $469M · 16¢ of every $1 of revenue kept as net profit · operating margin 17.4%

Viavi Solutions made $469M in Q1 FY27 (+57% Y/Y): Product revenue $416M, Service revenue $53.6M. Operating margin 17.4%, net earnings $76.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$469M
Year over year+57%
Operating margin17.4%
Net earnings$76.0M
Operating cash flow$105M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $469.3M in Q1 FY27, up 57% year over year and up 6% from the previous quarter. Product revenue was the largest line at 89% of revenue. Product revenue added $158.3M year over year (up 61%), 93% of the total change.

Gross margin was 61.2%, up 4.7 points from Q1 FY26. Operating profit was $81.7M, a 17.4% margin (up 14.9 points year over year). Of the extra revenue versus Q1 FY26, 44% reached operating profit, above the 3% margin then. Operating expenses grew 27% against revenue growth of 57%. The fastest-growing cost line was Other operating costs (+450%). Net earnings were $76.0M. The effective tax rate was 13.5%.

Operating cash flow was $104.7M (up 238% year over year), 138% of net earnings. Non-cash charges added back $17.7M of depreciation and amortization and $15.9M of share-based compensation. Capital expenditures of $12.0M left free cash flow of $92.7M.

Quarterly history

Viavi Solutions revenue by quarterViavi Solutions revenue by quarter$285MQ3 FY25$290MQ4 FY25$299MQ1 FY26$369MQ2 FY26$407MQ3 FY26$443MQ4 FY26$469MQ1 FY27
Viavi Solutions net earnings by quarterViavi Solutions net earnings by quarter$19.5MQ3 FY25$8.0MQ4 FY25−$21.4MQ1 FY26−$48.1MQ2 FY26$6.4MQ3 FY26$32.7MQ4 FY26$76.0MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QNov 5, 2026$469M+57%17.4%$76.0M$105M
Q4 FY2610-KAug 13, 2026$443M+52%13.8%$32.7M$66.7M
Q3 FY2610-QApr 30, 2026$407M+43%6.1%$6.4M−$26.3M
Q2 FY2610-QJan 29, 2026$369M+36%3.1%−$48.1M$42.5M
Q1 FY2610-QOct 30, 2025$299M+26%2.5%−$21.4M$31.0M
Q4 FY2510-KAug 11, 2025$290M+15%5.3%$8.0M$23.8M
Q3 FY2510-QMay 2, 2025$285M+16%3.0%$19.5M$7.8M

Charts

Viavi Solutions: revenue growth, year over year and quarter over quarterViavi Solutions: revenue growth, year over year and quarter over quarterY/YQ/Q+16%Q3 FY25+15%+2%Q4 FY25+26%+3%Q1 FY26+36%+23%Q2 FY26+43%+10%Q3 FY26+52%+9%Q4 FY26+57%+6%Q1 FY27
Latest (Q1 FY27): Y/Y +57%, Q/Q +6%.
Viavi Solutions: where the cash came from (+) and went (−), TTM to Q1 FY27Viavi Solutions: where the cash came from (+) and went (−), TTM to Q1 FY27Net borrowing (+) / repaid (−)$600MOther investing−$406MOperating cash flow$188MOther financing−$152MBuybacks−$150MTaxes on employees’ shares−$68.5MCapital spending−$34.6MCash drawn (+) / kept (−)$13.9MShares issued$7.7MAsset & business sales$3.9MExchange rates−$1.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Viavi Solutions: profit against cash, quarter by quarterViavi Solutions: profit against cash, quarter by quarterNet incomeOperating cash flow$9.1M$44.7MQ2 FY25$19.5M$7.8MQ3 FY25$8.0M$23.8MQ4 FY25−$21.4M$31.0MQ1 FY26−$48.1M$42.5MQ2 FY26$6.4M−$26.3MQ3 FY26$32.7M$66.7MQ4 FY26$76.0M$105MQ1 FY27
Latest (Q1 FY27): Net income $76.0M, Operating cash flow $105M.
Viavi Solutions: diluted shares by fiscal yearViavi Solutions: diluted shares by fiscal year236MFY21238MFY22227MFY23223MFY24226MFY25230MFY26
-2.9% since FY21: buybacks shrank the count.
Viavi Solutions in its industry: growth against margin (80 companies, SIC 3674)Viavi Solutions in its industry: growth against margin (80 companies, SIC 3674)revenue growth, year over year →↑ operating marginmedian +36%median 11%NVDAMUAVGOINTCAMDAMATTXNADINXPIMRVLAMKRONMCHPQARMFSLRMPWRNXTSWKSQorvo, Inc.UCTTALABPENGCRUSDIODCRDOMTSIOSISSMTCKLICARRYICHRSEDGSITMSYNAENPHLSCCIPGPFORMALGMAAOITESLABRMBSMXLPLABSHLSCBRSAOSLSkyWater Technology, LLCWOLFPOWINLSTAMBALASRAXTIINDIMXAMBQFTCIAIPTYGOLPTHMRAMNVTSKOPNBZAIGUERLEDSGSITNVECSODIQUIKPRSOGCTSMOBXALMUASTIIPWRVIAV (+57%, 17%)
Semiconductors & Related Devices; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Viavi Solutions

Viavi Solutions Inc. (VIAVI, also referred to as the Company, we, our and us) is a global leader in test and measurement and optical technologies. Our test and measurement, and resilient Position, Navigation and Timing (PNT) 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.

In its own words, from its 10-K, filed Aug 13, 2026.

Viavi Solutions against its Semiconductors & Related Devices peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +57% against the peers' median +45%. Operating margin: 17.4% against the peers' median 40.1%.

CompanyQuarterRevenueY/YOp. margin
VIAV Viavi SolutionsQ1 FY27$469M+57%17.4%
NVDA NVIDIAQ2 FY27$96.2B+106%66.2%
MU Micron TechnologyQ4 FY26$54.2B+379%80.7%
AVGO BroadcomQ3 FY26$29.6B+86%53.9%
INTC IntelQ3 2026$16.5B+21%15.3%
AMD Advanced Micro DevicesQ3 2026$13.4B+45%21.2%
AMAT Applied MaterialsQ3 FY26$9.1B+25%33.7%
TXN Texas InstrumentsQ3 2026$6.1B+28%47.5%
ADI Analog DevicesQ3 FY26$4.0B+40%40.1%

Source: Viavi Solutions 10-Q on SEC EDGAR · CIK 912093 · Semiconductors & Related Devices

Guidance and outlook

Viavi Solutions Revenue: guidance against what was reportedViavi Solutions Revenue: guidance against what was reportedguided rangereported (above / within / below)Q3 FY25$285MQ4 FY25$290MQ1 FY26$299MQ2 FY26$369MQ3 FY26$407MQ4 FY26$443MQ1 FY27$469MQ2 FY27
Met or beat 7 of 7 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Viavi Solutions: what its forward-looking statements are about (10-Q filed 2026-11-05)Viavi Solutions: what its forward-looking statements are about (10-Q filed 2026-11-05)Other7Demand4People4Tax3Margins2Costs2Capital spending1Buybacks & dividends1
24 statements; tone +0.00 (−1 all cautious, +1 all confident); 3 hedged.
Viavi Solutions: outlook statements against the filing beforeViavi Solutions: outlook statements against the filing beforeConfident6Cautious6

13F: who owns VIAV and who is buying

Largest holders of VIAV (13F)Largest holders of VIAV (13F)BlackRock$1.2BVanguard Portfolio Management LLC$650MPrice T Rowe Associates$532MVanguard Group$522MVanguard Capital Management LLC$521MJane Street Group, LLC$444MCapital World Investors$437MState Street$371MWhale Rock Capital Management LLC$328MGeode Capital Management, LLC$272M
Funds' net buying of VIAV by quarter (13F)Funds' net buying of VIAV by quarter (13F)−$5.1M2024-09$18.8M2024-12$13.9M2025-03$47.0M2025-06$45.9M2025-09$71.0M2025-12$125M2026-03$106M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on VIAV

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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