Aviat FY27 Revenue Outlook
Aviat Networks Reaffirms Fiscal 2027 Revenue Guidance Amid Strong Backlog Growth
Anonymous
Key Points
1
The FY2027 revenue guidance midpoint is $462.5 million, virtually identical to the consensus of $462.686 million, with an upside of about $7.3 million and a downside of roughly $7.7 million.
2
For fiscal 2026, Aviat’s revenue grew 1.2% to about $439.7 million, driven by software/licenses (+10%) and equipment (+6%), while field services declined about 15%. Regional performance was mixed, with gains in North America, Africa/Middle East and Europe, and declines in Latin America and APAC (APAC down 18%). The company also expanded its portfolio through the NEC wireless transport deal (Nov 2023) and the 4RF acquisition, supported by the Aviat Store e-commerce platform.
3
In Q4 2026, revenue was $120.9 million with a GAAP net loss of $1.3 million, but non-GAAP net income of $8.3 million. The full-year backlog reached $367 million (up 14%), and Aviat secured a significant U.S. order estimated at $25–$30 million; North America Q4 revenue was $68.3 million (up 17.8%), while international revenue was $52.6 million (down 8.3%).
4
Capital actions and liquidity details include a $2.2 million share repurchase in Q4 at an average price of $16.55, cash and cash equivalents of $72.8 million, total debt of $97.0 million (net debt of $24.2 million), and a trailing twelve-month book-to-bill ratio greater than 1.
5
Investor activity remained active, with 64 institutional investors adding AVNW shares and 67 reducing their holdings; notable new positions included TIETON CAPITAL MANAGEMENT, LLC adding about 676,440 shares, among others.
Aviat Networks expects fiscal 2027 revenue between $455 million and $470 million, right in line with Wall Street expectations. The wireless transport company posted $439.7 million in revenue for fiscal 2026, up 1.2% from the prior year, though the company is banking on faster growth ahead driven by new product lines and recent acquisitions Investing.
In the fourth quarter, Aviat beat earnings estimates with non-GAAP earnings per share of $0.64 and revenue of $120.9 million. The company's backlog jumped 14% to $367 million, suggesting stronger demand for its wireless transport and software solutions Yahoo Finance.
Software Gains Offset Weak Field Services in 2026
Aviat's fiscal 2026 growth came from software and licenses, which surged 10%, and equipment sales, which climbed 6%. But field services fell about 15%, dragging on overall momentum. The company also faced regional headwinds. North America, Africa, and Europe grew, but Latin America and the Asia-Pacific region declined sharply — APAC dropped 18% year-over-year Investing.
Backlog Surge and a Major U.S. Contract Win
Aviat's backlog reached $367 million in fiscal 2026, up 14% from the previous year. Most importantly, the company won a significant U.S. order worth $25 million to $30 million, signaling strong domestic demand. North America revenue in Q4 hit $68.3 million, up 17.8%, while international sales fell 8.3% to $52.6 million Investing.
Portfolio Expansion Through Acquisitions and New Platforms
Aviat has been reshaping its business through strategic deals. In November 2023, the company acquired NEC's wireless transport business. It also bought 4RF, expanding its wireless capabilities. The Aviat Store, a new e-commerce platform, is helping the company reach customers directly and boost software and private network sales Investing.
Strong Balance Sheet and Profitability Surge Ahead
Aviat had $72.8 million in cash at fiscal year-end and $97 million in total debt, giving it a net debt position of just $24.2 million. The company guides for Adjusted EBITDA of $50 million to $55 million in fiscal 2027, up 36% to 50% from fiscal 2026, indicating a sharp jump in profitability. Non-GAAP net income in Q4 reached $8.3 million despite a GAAP loss of $1.3 million Investing.
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