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Viavi Solutions cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$92.7M in Q1 FY27 · $153M over twelve months

Operating cash flow$105M
Capital spending−$12.0M
Free cash flow+$92.7M
Cash / net income1.4×
Cash conversion cycle107 days

Analysis

In Q1 FY27, Viavi Solutions generated $105M of operating cash flow and spent $12.0M on capital projects, leaving free cash flow of $92.7M.

Over the twelve months to Oct 3, 2026, operating cash flow was $188M; the largest uses were other investing ($406M), other financing ($152M), buybacks ($150M); besides operations, cash came from net borrowing (+) / repaid (−) ($600M), shares issued ($7.7M); the cash balance fell by $13.9M.

Operating cash flow was $105M against net income of $76.0M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: inventory −$22.4M, depreciation & amortization +$17.7M, stock-based pay +$15.9M.

Its cash conversion cycle was 107 days (receivables 72 + inventory 89 − payables 53).

Free cash flow

Viavi Solutions: free cash flow by quarterViavi Solutions: free cash flow by quarter$36.5MQ2 FY25$1.0MQ3 FY25$18.3MQ4 FY25$22.5MQ1 FY26$36.9MQ2 FY26−$32.2MQ3 FY26$55.6MQ4 FY26$92.7MQ1 FY27
Operating cash flow less capital spending.
Viavi Solutions: operating cash flow against capital spendingViavi Solutions: operating cash flow against capital spendingOperating cash flowCapital spending$44.7M$8.2MQ2 FY25$7.8M$6.8MQ3 FY25$23.8M$5.5MQ4 FY25$31.0M$8.5MQ1 FY26$42.5M$5.6MQ2 FY26−$26.3M$5.9MQ3 FY26$66.7M$11.1MQ4 FY26$105M$12.0MQ1 FY27
Latest (Q1 FY27): Operating cash flow $105M, Capital spending $12.0M.

Capital allocation, year by year

Viavi Solutions: where the cash came from (up) and went (down), by fiscal yearViavi Solutions: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY22: Operating cash flow $178MFY22: Net borrowing $400MFY22: Shares issued $7.8MFY22: Asset sales $9.8MFY22: Capital spending −$72.5MFY22: Acquisitions −$8.3MFY22: Buybacks −$236M$596MFY22FY23: Operating cash flow $114MFY23: Net borrowing $49.9MFY23: Shares issued $7.9MFY23: Asset sales $5.1MFY23: Capital spending −$51.1MFY23: Acquisitions −$67.3MFY23: Buybacks −$83.9M$177MFY23FY24: Operating cash flow $116MFY24: Net borrowing −$96.4MFY24: Shares issued $6.3MFY24: Asset sales $3.4MFY24: Capital spending −$19.5MFY24: Buybacks −$20.0M$126MFY24FY25: Operating cash flow $89.8MFY25: Shares issued $6.0MFY25: Asset sales $5.1MFY25: Capital spending −$27.8MFY25: Acquisitions −$121MFY25: Buybacks −$16.4M$101MFY25FY26: Operating cash flow $114MFY26: Net borrowing $100MFY26: Shares issued $582MFY26: Asset sales $4.0MFY26: Capital spending −$31.1MFY26: Acquisitions −$399MFY26: Buybacks −$30.0M$800MFY26
Over these 5 years operating cash flow totalled $612M; the largest uses were acquisitions ($596M) and buybacks ($386M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$529M
Debt$642M
Net debt$113M

Viavi Solutions funds itself: free cash flow was $153M over the last twelve months, and $529M of cash and investments stands against $642M of debt.

Where the cash came from and went

Viavi Solutions: sources (+) and uses (−) of cash, Q1 FY27Viavi Solutions: sources (+) and uses (−) of cash, Q1 FY27Buybacks−$150MCash drawn (+) / kept (−)$122MOperating cash flow$105MTaxes on employees’ shares−$59.8MCapital spending−$12.0MAcquisitions−$11.9MOther investing$4.4MShares issued$3.9MExchange rates−$1.0MAsset & business sales$800KOther financing−$700K
Viavi Solutions: sources (+) and uses (−) of cash, TTM to Q1 FY27Viavi Solutions: sources (+) and uses (−) of cash, 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 profit to cash

Viavi Solutions: net income to operating cash flow, Q1 FY27Viavi Solutions: net income to operating cash flow, Q1 FY27Net income$76.0MDepreciation & amortization$17.7MStock-based pay$15.9MDeferred taxes$700KOther non-cash−$7.6MReceivables$15.1MInventory−$22.4MPayables$13.6MAccrued liabilities−$12.5MEmployee-related liabilities−$15.7MDeferred revenue−$2.5MPrepaid and other assets−$700KIncome taxes payable$2.2MOperating cash flow$105M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY27728953107
Q4 FY26697644101
Q3 FY2668764698
Q2 FY2665764596
Q1 FY26778547114
Q4 FY25808449116
Q3 FY25747745106
Q2 FY25707743104

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27$105M−$12.0M−$11.9M−$150M—$3.9M$122M$92.7M
Q4 FY26$66.7M−$11.1M————−$148M$55.6M
Q3 FY26−$26.3M−$5.9M———$3.8M$265M−$32.2M
Q2 FY26$42.5M−$5.6M−$399M—$600M—−$224M$36.9M
Q1 FY26$31.0M−$8.5M—−$30.0M$149M$2.7M−$120M$22.5M
Q4 FY25$23.8M−$5.5M−$3.0M———−$49.4M$18.3M
Q3 FY25$7.8M−$6.8M−$118M——$3.3M$114M$1.0M
Q2 FY25$44.7M−$8.2M————−$18.3M$36.5M

Viavi Solutions: income statement and cash flow

Viavi Solutions, Q1 FY27: revenue $469M (+57% year over year), operating margin 17.4%. The chart follows the revenue to costs, profit and cash.

Viavi Solutions: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.