# EDGAR Filing Document

**Accession Number:** 0000912093
**File Stem:** 0001628280-26-003845
**Filing Date:** 2026-1
**Character Count:** 40151
**Document Hash:** d7a4e53eea81ab81eaea998ff369d22f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-003845.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001628280-26-003845

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260128

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Cost Associated with Exit or Disposal Activities

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIAVI SOLUTIONS INC.
- **CENTRAL INDEX KEY:** 0000912093
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 942579683
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0627

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-22874
- **FILM NUMBER:** 26572681

**BUSINESS ADDRESS:**
- **STREET 1:** 1445 SOUTH SPECTRUM BLVD.
- **STREET 2:** SUITE 102
- **CITY:** CHANDLER
- **STATE:** AZ
- **ZIP:** 85286
- **BUSINESS PHONE:** 4084043600

**MAIL ADDRESS:**
- **STREET 1:** 1445 SOUTH SPECTRUM BLVD.
- **STREET 2:** SUITE 102
- **CITY:** CHANDLER
- **STATE:** AZ
- **ZIP:** 85286

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JDS UNIPHASE CORP /CA/
- **DATE OF NAME CHANGE:** 19990713

?xml version='1.0' encoding='ASCII'? viav-20260128

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of report (Date of earliest event reported): January 28, 2026

**VIAVI SOLUTIONS INC.**

(Exact name of Registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **000-22874** | **94-2579683** |
| (State or other jurisdiction<br>of incorporation or organization) | (Commission file number) | (I.R.S. Employer<br>Identification Number) |

---

---

| | | | |
|:---|:---|:---|:---|
| **1445 South Spectrum Blvd, Suite 102** | **Chandler,** | **Arizona** | **85286** |
| (Address of principal executive offices and Zip Code) | (Address of principal executive offices and Zip Code) | (Address of principal executive offices and Zip Code) | (Address of principal executive offices and Zip Code) |

---

**(408) 404-3600** 

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of the exchange on which registered** |
| Common Stock, par value of $0.001 per share | VIAV | The Nasdaq Stock Market LLC |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company. ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

    

------

**Item 2.02. Results of Operations and Financial Condition.**

On January 28, 2026, Viavi Solutions Inc. (the "Company") reported its preliminary results for its fiscal second quarter ended December 27, 2025. A copy of the Company's press release is furnished herewith and attached hereto as Exhibit 99.1.

The information in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Item 2.05. Costs Associated with Exit and Disposal Activities.**

On January 23, 2026, the Company approved a restructuring plan (the "Plan") to improve operational efficiencies, better align the Company's workforce with current business needs and strategic growth opportunities and includes integration of recently acquired businesses. The Plan includes a global workforce reduction, facilities rationalization and asset write-offs.

The Company expects approximately 5% of its global workforce to be affected. The Company estimates it will incur total charges of approximately $32 million in connection with the Plan, including approximately $24 million in cash expenditures, primarily related to employee severance and related costs. The Company expects to recognize the majority of these charges by the end of June 2026 with the Plan substantially completed by the end of calendar 2026. The Company anticipates the Plan to result in approximately $30 million in annualized cost savings upon completion.

The amount and timing of the financial impact may differ from the initial estimates provided.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| <u>[99.1](viavq2fy268-kex991.htm)</u> | Press release entitled "VIAVI Announces Second Quarter Fiscal 2026 Results" dated January 28, 2026. |
| 104 | Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document |

---

------

**Signature**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | **VIAVI SOLUTIONS INC.** | **VIAVI SOLUTIONS INC.** |
| | By: | /s/ ILAN DASKAL |
| | Name: | ILAN DASKAL |
| | Title: | Executive Vice President and Chief Financial Officer |
|  |  | *(Duly Authorized Officer and Principal Financial and Accounting Officer)* |
| January 28, 2026 |  |  |

---

## Exhibit 99.1

**Exhibit 99.1**

**<u>VIAVI Announces Second Quarter Fiscal 2026 Results</u>**

**Chandler, Arizona, January 28, 2026** — VIAVI (NASDAQ: VIAV) today reported results for its fiscal second quarter ended December 27, 2025 with the following highlights.

**<u>Second Quarter</u>**

*• Net revenue of $369.3 million, up $98.5 million or 36.4% year-over-year*

*• GAAP operating margin of 3.1%, down 510 bps year-over-year*

*• Non-GAAP operating margin of 19.3%, up 440 bps year-over-year*

*• GAAP net loss of $48.1 million, down $57.2 million or 628.6% year-over-year*

*• Non-GAAP net income of $51.5 million,* up *$22.1 million* or *75.2% year-over-year* 

*• GAAP diluted earnings per share (EPS) of $(0.21),* down *$0.25 or 625.0% year-over-year*

*• Non-GAAP diluted EPS of $0.22, up $0.09 or 69.2% year-over-year*

"VIAVI's performance for the second quarter came in at the high end of our guidance, driven by strength across most of our end markets. We expect the strong momentum and demand in the data center ecosystem and aerospace and defense applications to continue driving our anticipated growth this calendar year," said Oleg Khaykin, VIAVI's President and Chief Executive Officer.

**Financial Overview:**

The tables below (in millions, except percentage and per share data) provide comparisons of quarterly results to prior periods, including sequential quarterly and year-over-year changes. A full reconciliation between the GAAP and non-GAAP measures included in the tables is contained in this release under the section titled "Use of Non-GAAP (Adjusted) Financial Measures."

**<u>Fiscal Second Quarter Ended December 27, 2025</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **GAAP Results** | **GAAP Results** | **GAAP Results** | **GAAP Results** | **GAAP Results** |
| | | | | **Change** | **Change** |
| | **Q2**<br>**FY 2026** | **Q1**<br>**FY 2026** | **Q2**<br>**FY 2025** | **Q/Q** | **Y/Y** |
| Net revenue | $369.3 | $299.1 | $270.8 | 23.5% | 36.4% |
| Gross margin | 57.0% | 56.5% | 59.4% | 50 bps | (240) bps |
| Operating margin | 3.1% | 2.5% | 8.2% | 60 bps | (510) bps |
| Income from operations | $11.4 | $7.6 | $22.2 | 50.0% | (48.6)% |
| Net (loss) income per share | (0.21) | (0.10) | 0.04 | (110.0)% | (625.0)% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Non-GAAP Results** | **Non-GAAP Results** | **Non-GAAP Results** | **Non-GAAP Results** | **Non-GAAP Results** |
| | | | | **Change** | **Change** |
| | **Q2**<br>**FY 2026** | **Q1**<br>**FY 2026** | **Q2**<br>**FY 2025** | **Q/Q** | **Y/Y** |
| Gross margin | 61.8% | 60.0% | 61.1% | 180 bps | 70 bps |
| Operating margin | 19.3% | 15.7% | 14.9% | 360 bps | 440 bps |
| Income from operations | $71.4 | $47.1 | $40.4 | 51.6% | 76.7% |
| Earnings per share | 0.22 | 0.15 | 0.13 | 46.7% | 69.2% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Net Revenue by Segment** | **Net Revenue by Segment** | **Net Revenue by Segment** | **Net Revenue by Segment** | **Net Revenue by Segment** |
| | | | | **Change** | **Change** |
| | **Q2**<br>**FY 2026** | **Q1**<br>**FY 2026** | **Q2**<br>**FY 2025** | **Q/Q** | **Y/Y** |
| Network and Service Enablement | $291.5 | $216.0 | $199.9 | 35.0% | 45.8% |
| Optical Security and Performance Products | 77.8 | 83.1 | 70.9 | (6.4)% | 9.7% |
| &nbsp;&nbsp;&nbsp;**Total** | $369.3 | $299.1 | $270.8 | 23.5% | 36.4% |

---

• Americas, Asia-Pacific and EMEA customers represented 46.3%, 29.3% and 24.4%, respectively, of total net revenue for the quarter ended December 27, 2025.

------

• As of December 27, 2025, the Company held $772.1 million in total cash, short-term investments and short-term restricted cash.

• As of December 27, 2025, the Company had $49.0 million aggregate principal amount of 1.625% Senior Convertible Notes, $250.0 million aggregate principal amount of 0.625% Senior Convertible Notes, $400 million aggregate principal amount of 3.75% Senior Notes and $600.0 million aggregate principal amount of Term Loan B with a total net carrying value of $1,275.1 million.

• During the fiscal quarter ended December 27, 2025, the Company generated $42.5 million of cash flows from operations.

**Restructuring Plan**

On January 23, 2026, the Company approved a restructuring plan (the "Plan") to improve operational efficiencies, better align the Company's workforce with current business needs and strategic growth opportunities and includes integration of recently acquired businesses. The Plan includes a global workforce reduction, facilities rationalization and asset write-offs.

The Company expects approximately 5% of its global workforce to be affected. The Company estimates it will incur total charges of approximately $32 million in connection with the Plan, including approximately $24 million in cash expenditures, primarily related to employee severance and related costs. The Company expects to recognize the majority of these charges by the end of June 2026 with the Plan substantially completed by the end of calendar 2026. The Company anticipates the Plan to result in approximately $30 million in annualized cost savings upon completion.

The amount and timing of the financial impact may differ from the initial estimates provided.

**Business Outlook for the Third Quarter of Fiscal 2026** 

For the third quarter of fiscal 2026 ending March 28, 2026, the Company expects net revenue to be between $386 million to $400 million and non-GAAP EPS to be between $0.22 to $0.24.

With respect to our expectations above, the Company has not reconciled GAAP net (loss) income per share to non-GAAP EPS in this press release because it is unable to provide a meaningful or accurate estimate of certain reconciling items described in the "Use of Non-GAAP (Adjusted) Financial Measures" section below and the information is not available without unreasonable effort as a result of the inherent difficulty of forecasting the timing and/or amounts of certain items, including certain charges related to restructuring, acquisition, integration and related charges. In addition, the Company believes such reconciliations would imply a degree of precision that may be confusing or misleading to investors.

**Conference Call**

The Company will discuss these results and other related matters at 1:30 p.m. Pacific Time on January 28, 2026 in a live webcast, which will also be archived for replay on the Company's website at *https://investor.viavisolutions.com*. The Company will post supplementary slides outlining the Company's latest financial results on *https://investor.viavisolutions.com* under the "Quarterly Results" section concurrently with this earnings press release. This press release is being furnished as a Current Report on Form 8-K with the Securities and Exchange Commission, and will be available at *www.sec.gov*.

**About VIAVI Solutions**

VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test, monitoring, assurance, and resilient position, navigation and timing 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.

Learn more about VIAVI at *www.viavisolutions.com*. Follow us on VIAVI Perspectives, LinkedIn and YouTube.

------

**Forward-Looking Statements**

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include any expectation, anticipation or guidance as to future financial performance, including future revenue, gross margin, operating expense, operating margin, profitability targets, cash flow and other financial metrics, as well as the impact and duration of certain trends and market position and conditions, including market stabilization and recovery. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. In particular, the Company's ability to predict future financial performance continues to be difficult due to, among other things: (a) continuing general limited visibility across many of our product lines; (b) quarter-over-quarter product mix fluctuations, which can materially impact profitability measures due to the broad gross margin ranges across our portfolio; (c) consolidations in our industry and customer base; (d) competitive pressures; (e) unforeseen changes or deceleration in the demand for current and new products, technologies, services, delays or unforeseen events in the roll-out of new industry platforms or evolving technology such as 3D sensing and customer purchasing delays due to macroeconomic conditions, tightening of expenditures or as they assess or transition to such new technologies and/or architectures, all of which limit near-term demand visibility, and could negatively impact potential revenue; (f) continued decline of average selling prices across our businesses; (g) notable seasonality and a significant level of in-quarter book-and-ship business; (h) various product and manufacturing transfers, site consolidations, product discontinuances and restructuring and workforce reduction plans, including the number of employees impacted by a restructuring plan, the estimated expenses the Company will recognize, the timing of these payments and expenses, and anticipated cost savings associated with such plans; (i) challenges in execution of business strategy; (j) financial projections and expectations, including profitability of certain business units, synergies, benefits and other matters related to the acquisition of the high-speed ethernet, network security and channel emulation testing business of Spirent Communications plc; (k) challenges integrating the businesses the Company has acquired and realizing all of the expected benefits and savings; (l) supply chain and materials constraints and the ability of our suppliers and contract manufacturers to meet production and delivery requirements to our forecasted demand; (m) potential disruptions or delays to our manufacturing and operations due to climate conditions and natural disasters in the regions where we operate, such as wildfires, drought conditions and related water shortages in Arizona, as well as wildfires in Northern California and related blackouts and power outages in that region; (n) the uncertain and ongoing impact to our supply chain of geopolitical tensions, such as the ongoing conflict between Russia and Ukraine and the instability in the Middle East, evolving global trade and tariff negotiations and the uncertain tariff landscape, sanctions and other trade measures imposed by domestic and foreign governments, adverse actions and escalating tensions with foreign governments, including China, and the possibility of escalation of "trade wars," cyber-attacks, and retaliatory measures; (o) the impact of infectious disease outbreaks, epidemics, and pandemics on our financial results, revenues, customer demand, business operations and manufacturing and on the business operations of our customers, contract manufacturers and suppliers; and (p) inherent uncertainty related to global markets, including inflationary pressures, recessions, tightening monetary policy and liquidity, and the effect of such markets on demand for our products. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. For more information on the risks and uncertainties associated with the Company's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of the Company's filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. The forward-looking statements contained in this press release are made as of the date thereof and the Company assumes no obligation to update such statements. We have not filed our Form 10-Q for the quarter ended December 27, 2025. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates, that are identified prior to the time we file the Form 10-Q.

**Contact Information**

***Investors:***

Vibhuti Nayar

408-404-6305

*vibhuti.nayar@viavisolutions.com*

***Press:*** 

Amit Malhotra

202-341-8624

*amit.malhotra@viavisolutions.com*

The following financial tables are presented in accordance with GAAP, unless otherwise specified.

**-SELECTED PRELIMINARY FINANCIAL DATA -**

------

**VIAVI SOLUTIONS INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(in millions, except per share data)**

**(unaudited)**

**PRELIMINARY**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **December 27, 2025** | **December 28, 2024** | **December 27, 2025** | **December 28, 2024** |
| Net revenue | $369.3 | $270.8 | $668.4 | $509 |
| Cost of revenues | 146.2 | 106.7 | 269.4 | 205.5 |
| Amortization of acquired technologies | 12.5 | 3.3 | 19.4 | 6.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 210.6 | 160.8 | 379.6 | 296.9 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development | 65.9 | 52.1 | 121.9 | 101.5 |
| &nbsp;&nbsp;&nbsp;Selling, general and administrative | 127.1 | 84.3 | 231.3 | 158.4 |
| &nbsp;&nbsp;&nbsp;Amortization of other intangibles | 6.3 | 1.0 | 7.8 | 2.1 |
| &nbsp;&nbsp;&nbsp;Restructuring and related (benefits) charges | (0.1) | 1.2 | (0.4) | 1.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 199.2 | 138.6 | 360.6 | 263.2 |
| &nbsp;&nbsp;&nbsp;Income from operations | 11.4 | 22.2 | 19.0 | 33.7 |
| &nbsp;&nbsp;&nbsp;Interest and other (expense) income, net | (34.8) | 3.9 | (37.3) | 7.1 |
| &nbsp;&nbsp;&nbsp;Interest expense | (15.3) | (7.5) | (22.7) | (15.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Loss) income before income taxes and equity investment earnings | (38.7) | 18.6 | (41.0) | 25.8 |
| Provision for income taxes | 9.7 | 9.5 | 28.7 | 18.5 |
| Equity investment earnings | 0.3 |  | 0.2 |  |
| Net (loss) income | $(48.1) | $9.1 | $(69.5) | $7.3 |
| Net (loss) income per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $(0.21) | $0.04 | $(0.31) | $0.03 |
| &nbsp;&nbsp;&nbsp;Diluted | $(0.21) | $0.04 | $(0.31) | $0.03 |
| &nbsp;&nbsp;&nbsp;Shares used in per share calculations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 223.9 | 222.0 | 223.4 | 222.0 |
| &nbsp;&nbsp;&nbsp;Diluted | 223.9 | 224.8 | 223.4 | 224.4 |

---

*The preliminary financial statements are estimated based on our current information.*

------

**VIAVI SOLUTIONS INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(in millions, unaudited)**

**PRELIMINARY**

---

| | | |
|:---|:---|:---|
| | **December 27, 2025** | **June 28, 2025** |
| **ASSETS** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $765.5 | $423.6 |
| &nbsp;&nbsp;&nbsp;Short-term investments | 1.9 | 1.7 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 4.7 | 3.7 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 284.6 | 261.0 |
| &nbsp;&nbsp;&nbsp;Inventories, net | 141.0 | 117.9 |
| &nbsp;&nbsp;&nbsp;Prepayments and other current assets | 80.9 | 77.3 |
| Total current assets | 1278.6 | 885.2 |
| Property, plant and equipment, net | 227.4 | 231.9 |
| Goodwill, net | 704.4 | 595.7 |
| Intangibles, net | 418.6 | 131.6 |
| Deferred income taxes | 78.5 | 87.2 |
| Other non-current assets | 70.3 | 62.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $2777.8 | $1993.8 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $91.4 | $68.8 |
| &nbsp;&nbsp;&nbsp;Accrued payroll and related expenses | 80.1 | 63.6 |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 83.6 | 74.1 |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 24.5 | 28.7 |
| &nbsp;&nbsp;&nbsp;Short-term debt | 53.4 | 246.2 |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 156.6 | 108.3 |
| Total current liabilities | 489.6 | 589.7 |
| Long-term debt | 1221.7 | 396.3 |
| Other non-current liabilities | 232.2 | 227.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1943.5 | 1213.6 |
| Total stockholders' equity | 834.3 | 780.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $2777.8 | $1993.8 |

---

*The preliminary financial statements are estimated based on our current information.*

------

**VIAVI SOLUTIONS INC.**

**REPORTABLE SEGMENT INFORMATION**

**(in millions, unaudited)**

**PRELIMINARY**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 27, 2025** | **Three Months Ended December 27, 2025** | **Three Months Ended December 27, 2025** | **Three Months Ended December 27, 2025** |
| | **Network and Service Enablement** | **Optical Security and Performance Products** | **Other Items** <sup>(1)</sup> | **Consolidated GAAP Measures** |
| Net revenue | $291.5 | $77.8 | $— | $369.3 |
| Gross profit | $188.6 | $39.5 | $(17.5) | $210.6 |
| Gross margin | 64.7% | 50.8% |  | 57.0% |
| Operating income | $45.4 | $26.0 | $(60.0) | $11.4 |
| Operating margin | 15.6% | 33.4% |  | 3.1% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 28, 2024** | **Three Months Ended December 28, 2024** | **Three Months Ended December 28, 2024** | **Three Months Ended December 28, 2024** |
|  | **Network and Service Enablement** | **Optical Security and Performance Products** | **Other Items** <sup>(1)</sup> | **Consolidated GAAP Measures** |
| Net revenue | $199.9 | $70.9 | $— | $270.8 |
| Gross profit | $129.5 | $35.9 | $(4.6) | $160.8 |
| Gross margin | 64.8% | 50.6% |  | 59.4% |
| Operating income | $17.4 | $23.0 | $(18.2) | $22.2 |
| Operating margin | 8.7% | 32.4% |  | 8.2% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six Months Ended December 27, 2025** | **Six Months Ended December 27, 2025** | **Six Months Ended December 27, 2025** | **Six Months Ended December 27, 2025** |
| | **Network and Service Enablement** | **Optical Security and Performance Products** | **Other Items** <sup>(1)</sup> | **Consolidated GAAP Measures** |
| Net revenue | $507.5 | $160.9 | $— | $668.4 |
| Gross profit | $324.7 | $83.0 | $(28.1) | $379.6 |
| Gross margin | 64.0% | 51.6% |  | 56.8% |
| Operating income | $61.7 | $56.8 | $(99.5) | $19.0 |
| Operating margin | 12.2% | 35.3% |  | 2.8% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six Months Ended December 28, 2024** | **Six Months Ended December 28, 2024** | **Six Months Ended December 28, 2024** | **Six Months Ended December 28, 2024** |
|  | **Network and Service Enablement** | **Optical Security and Performance Products** | **Other Items** <sup>(1)</sup> | **Consolidated GAAP Measures** |
| Net revenue | $359.3 | $149.7 | $— | $509.0 |
| Gross profit | $226.6 | $79.5 | $(9.2) | $296.9 |
| Gross margin | 63.1% | 53.1% |  | 58.3% |
| Operating income | $10.1 | $54.2 | $(30.6) | $33.7 |
| Operating margin | 2.8% | 36.2% |  | 6.6% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) See Reconciliation of GAAP Measures from Continuing Operations to Non-GAAP Measures below for details of Other Items.

*The preliminary financial schedules are estimated based on our current information.*

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**Use of Non-GAAP (Adjusted) Financial Measures**

The Company provides non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP EPS financial measures as supplemental information regarding the Company's operational performance and believes providing this additional information allows investors to see Company results through the eyes of management, and better to evaluate more clearly and consistently the Company's core operational performance and expenses and evaluate the efficacy of the methodology used by management to measure such performance. The Company uses the measures disclosed in this release to evaluate the Company's historical and prospective financial performance, as well as its performance relative to its competitors. Specifically, management uses these items to further its own understanding of the Company's core operating performance, which the Company believes represents its performance in the ordinary, ongoing and customary course of its operations. Accordingly, management excludes from core operating performance items such as those relating to certain purchase price accounting adjustments, amortization of acquisition related intangibles, amortization expense related to acquisition related inventory step-up, stock-based compensation, legal settlements, restructuring, changes in fair value of contingent consideration liabilities, certain investing and acquisition related expenses and other activities and income tax expenses or benefits that management believes are not reflective of such ordinary, ongoing and core operating activities. The non-GAAP adjustments are outlined below.

*Cost of revenues, costs of research and development and costs of selling, general and administrative*: The Company's GAAP presentation of gross margin and operating expenses may include (i) additional depreciation and amortization from changes in estimated useful life and the write-down of certain property, plant and equipment and intangibles, (ii) charges such as severance, benefits and outplacement costs related to restructuring plans with a specific and defined term, (iii) costs for facilities not required for ongoing operations, and costs related to the relocation of certain equipment from these facilities and/or contract manufacturer facilities, (iv) stock-based compensation, (v) amortization expense related to acquired intangibles, (vi) amortization expense related to acquisition related inventory step-up, (vii) changes in fair value of contingent consideration liabilities, (viii) acquisition related transaction and integration costs related to acquired entities, (ix) significant legal settlements and other contingencies and (x) other charges unrelated to our core operating performance comprised mainly of other costs and contingencies unrelated to current and future operations, including transformational initiatives such as the implementation of simplified automated processes, site consolidations, and reorganizations. The Company excludes these items in calculating non-GAAP operating margin, non-GAAP net income and non-GAAP EPS.

*Non-cash interest expense and other expense*: The Company excludes certain expenses, including loss on debt extinguishment, accretion of debt discount, and other non-cash activities that management believes are not reflective of such ordinary, ongoing and core operating activities, when calculating non-GAAP net income and non-GAAP EPS.

*Income tax expense or benefit*: The Company excludes certain non-cash tax expense or benefit items, such as (i) the utilization of net operating losses (NOLs) where valuation allowances were released, (ii) intra-period tax allocation benefit and (iii) the tax effect for amortization of non-tax deductible intangible assets, in calculating non-GAAP net income and non-GAAP EPS.

Non-GAAP financial measures are not in accordance with, preferable to, or an alternative for, generally accepted accounting principles in the United States. The GAAP measure most directly comparable to non-GAAP operating income is operating income. The GAAP measure most directly comparable to non-GAAP operating margin is operating margin. The GAAP measure most directly comparable to non-GAAP net income is net income. The GAAP measure most directly comparable to non-GAAP EPS is earnings per share.

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**VIAVI SOLUTIONS INC.**

**RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS**

**TO NON-GAAP MEASURES**

**(in millions, except per share data)**

**(unaudited)**

**PRELIMINARY**

The following tables reconcile GAAP measures to non-GAAP measures:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **December 27, 2025** | **December 27, 2025** | **December 28, 2024** | **December 28, 2024** | **December 27, 2025** | **December 27, 2025** | **December 28, 2024** | **December 28, 2024** |
| | **Gross Profit** | **Gross Margin** | **Gross Profit** | **Gross Margin** | **Gross Profit** | **Gross Margin** | **Gross Profit** | **Gross Margin** |
| GAAP measures | $210.6 | 57.0% | $160.8 | 59.4% | $379.6 | 56.8% | $296.9 | 58.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 1.1 | 0.3% | 1.3 | 0.5% | 2.1 | 0.3% | 2.5 | 0.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other charges unrelated to core operating performance | 1.3 | 0.4% |  | —% | 1.4 | 0.2% | 0.1 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition related inventory step-up | 2.6 | 0.7% |  | —% | 5.2 | 0.8% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 12.5 | 3.4% | 3.3 | 1.2% | 19.4 | 2.9% | 6.6 | 1.3% |
| &nbsp;&nbsp;&nbsp;Total related to Cost of Revenues | 17.5 | 4.8% | 4.6 | 1.7% | 28.1 | 4.2% | 9.2 | 1.8% |
| Non-GAAP measures | $228.1 | 61.8% | $165.4 | 61.1% | $407.7 | 61.0% | $306.1 | 60.1% |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **December 27, 2025** | **December 27, 2025** | **December 28, 2024** | **December 28, 2024** | **December 27, 2025** | **December 27, 2025** | **December 28, 2024** | **December 28, 2024** |
| | **Operating Income** | **Operating Margin** | **Operating Income** | **Operating Margin** | **Operating Income** | **Operating Margin** | **Operating Income** | **Operating Margin** |
| GAAP measures | $11.4 | 3.1% | $22.2 | 8.2% | $19 | 2.8% | $33.7 | 6.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 13.9 | 3.7% | 13.7 | 5.1% | 27.3 | 4.1% | 26.4 | 5.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of contingent liability | 10.8 | 2.9% | (3.9) | (1.4)% | 21.7 | 3.2% | (7.4) | (1.4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition and integration related charges | 7.8 | 2.1% | 2.8 | 1.0% | 11.7 | 1.8% | 3.4 | 0.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other charges (benefits) unrelated to core operating performance <sup>(1)</sup> | 6.2 | 1.7% | 0.1 | —% | 6.8 | 1.0% | (0.4) | (0.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition related inventory step-up | 2.6 | 0.7% |  | —% | 5.2 | 0.8% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 18.8 | 5.1% | 4.3 | 1.6% | 27.2 | 4.1% | 8.7 | 1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring and related (benefits) charges | (0.1) | —% | 1.2 | 0.4% | (0.4) | (0.1)% | 1.2 | 0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Litigation settlement |  | —% |  | —% |  | —% | (1.3) | (0.3)% |
| &nbsp;&nbsp;&nbsp;Total related to Cost of Revenues and Operating Expenses | 60.0 | 16.2% | 18.2 | 6.7% | 99.5 | 14.9% | 30.6 | 6.0% |
| Non-GAAP measures | $71.4 | 19.3% | $40.4 | 14.9% | $118.5 | 17.7% | $64.3 | 12.6% |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **December 27, 2025** | **December 27, 2025** | **December 28, 2024** | **December 28, 2024** | **December 27, 2025** | **December 27, 2025** | **December 28, 2024** | **December 28, 2024** |
| | **Net (Loss) Income** | **Diluted EPS** | **Net Income** | **Diluted EPS** | **Net (Loss) Income** | **Diluted EPS** | **Net Income** | **Diluted EPS** |
| GAAP measures | $(48.1) | $(0.21) | $9.1 | $0.04 | $(69.5) | $(0.31) | $7.3 | $0.03 |
| Items reconciling GAAP Net Loss (Income) and EPS to Non-GAAP Net Income and EPS: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 13.9 | 0.06 | 13.7 | 0.06 | 27.3 | 0.12 | 26.4 | 0.12 |
| &nbsp;&nbsp;&nbsp;Change in fair value of contingent liability | 10.8 | 0.05 | (3.9) | (0.02) | 21.7 | 0.10 | (7.4) | (0.03) |
| &nbsp;&nbsp;&nbsp;Acquisition and integration related charges | 7.8 | 0.03 | 2.8 | 0.01 | 11.7 | 0.05 | 3.4 | 0.02 |
| &nbsp;&nbsp;&nbsp;Other charges (benefits) unrelated to core operating performance <sup>(1)</sup> | 6.2 | 0.03 | 0.1 |  | 6.8 | 0.03 | (0.4) | (0.01) |
| &nbsp;&nbsp;&nbsp;Amortization of acquisition related inventory step-up | 2.6 | 0.01 |  |  | 5.2 | 0.02 |  |  |
| &nbsp;&nbsp;&nbsp;Amortization of intangibles | 18.8 | 0.08 | 4.3 | 0.02 | 27.2 | 0.12 | 8.7 | 0.04 |
| &nbsp;&nbsp;&nbsp;Restructuring and related (benefits) charges | (0.1) |  | 1.2 | 0.01 | (0.4) |  | 1.2 | 0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;Litigation settlement |  |  |  |  |  |  | (1.3) | (0.01) |
| &nbsp;&nbsp;&nbsp;Non-cash interest expense and other expense <sup>(2)</sup> | 39.4 | 0.17 | 1.1 | 0.01 | 44.2 | 0.19 | 2.2 | 0.01 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 0.2 |  | 1.0 |  | 10.4 | 0.05 | 1.7 | 0.01 |
| &nbsp;&nbsp;&nbsp; Total related to Net Income and EPS | 99.6 | 0.43 | 20.3 | 0.09 | 154.1 | 0.68 | 34.5 | 0.16 |
| Non-GAAP measures | $51.5 | $0.22 | $29.4 | $0.13 | $84.6 | $0.37 | $41.8 | $0.19 |
| Shares used in per share calculation for Non-GAAP EPS |  | 233.4 |  | 224.8 |  | 230.7 |  | 224.4 |

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Note: Certain totals may not add due to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Included in the three and six months ended December 27, 2025 is $3.5 million of losses on disposal of long-lived assets, $2.1 million charge for restoration services for a VIAVI facility impacted by a fire and other charges unrelated to core operating performance. Included in the six months ended December 28, 2024 is a gain of $0.9 million on the sale of assets previously classified as held for sale and other charges unrelated to core operating performance of $0.5 million.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Company incurred losses of $38.7 million and $42.5 million for the three and six months ended December 27, 2025, respectively, in connection with the extinguishment of certain 1.625% Senior Convertible Notes.

*The preliminary financial schedules are estimated based on our current information*.

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**VIAVI SOLUTIONS INC.**

**RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS**

**TO ADJUSTED EBITDA**

**(in millions, unaudited)**

**PRELIMINARY**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **December 27, 2025** | **December 28, 2024** | **December 27, 2025** | **December 28, 2024** |
| GAAP Net (loss) income | $(48.1) | $9.1 | $(69.5) | $7.3 |
| &nbsp;&nbsp;&nbsp;Interest and other expense (income), net <sup>(1)</sup> | 34.8 | (3.9) | 37.3 | (7.1) |
| &nbsp;&nbsp;&nbsp;Interest expense | 15.3 | 7.5 | 22.7 | 15.0 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 9.7 | 9.5 | 28.7 | 18.5 |
| &nbsp;&nbsp;&nbsp;Equity investment earnings | (0.3) |  | (0.2) |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 10.0 | 9.8 | 19.8 | 19.5 |
| &nbsp;&nbsp;&nbsp;Amortization | 18.8 | 4.3 | 27.2 | 8.7 |
| EBITDA | 40.2 | 36.3 | 66.0 | 61.9 |
| &nbsp;&nbsp;&nbsp;Restructuring and related (benefits) charges | (0.1) | 1.2 | (0.4) | 1.2 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 13.9 | 13.7 | 27.3 | 26.4 |
| &nbsp;&nbsp;&nbsp;Change in fair value of contingent liability | 10.8 | (3.9) | 21.7 | (7.4) |
| &nbsp;&nbsp;&nbsp;Acquisition and integration related charges | 7.8 | 2.8 | 11.7 | 3.4 |
| &nbsp;&nbsp;&nbsp;Other charges (benefits) unrelated to core operating performance <sup>(2)</sup> | 6.2 |  | 6.7 | (1.9) |
| &nbsp;&nbsp;&nbsp;Amortization of acquisition related inventory step-up | 2.6 |  | 5.2 |  |
| &nbsp;&nbsp;&nbsp;Adjusted EBITDA | $81.4 | $50.1 | $138.2 | $83.6 |

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Note: Certain totals may not add due to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Company incurred losses of $38.7 million and $42.5 million for the three and six months ended December 27, 2025, respectively, in connection with the extinguishment of certain 1.625% Senior Convertible Notes.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Included in the three and six months ended December 27, 2025 is $3.5 million of losses on disposal of long-lived assets, $2.1 million charge for restoration services for a VIAVI facility impacted by a fire and other charges unrelated to core operating performance. Included in the six months ended December 28, 2024 is a gain on litigation settlement of $1.3 million, a gain on the sale of assets previously classified as held for sale of $0.9 million and other charges unrelated to core operating performance of $0.3 million.

*The preliminary financial schedules are estimated based on our current information.*