Welcome to our dedicated page for Viavi Solutions news (Ticker: VIAV), a resource for investors and traders seeking the latest updates and insights on Viavi Solutions stock.
Viavi Solutions Inc. (NASDAQ: VIAV) is a global leader in providing network test, monitoring, and assurance solutions. The company caters to a broad array of customers including telecommunications service providers, enterprises, network equipment manufacturers, and various governmental and military entities. Viavi's innovative software and hardware platforms offer end-to-end visibility across physical, virtual, and hybrid networks, delivering precise intelligence and actionable insights that enhance the service experience, boost customer loyalty, increase profitability, and accelerate transitions to next-generation technologies.
In addition to its core networking solutions, Viavi excels in anti-counterfeiting technologies for currency authentication and produces advanced optical components for a wide range of applications across industries such as electronics, automotive, aerospace, and defense. The company's operations are divided into three main segments: Network Enablement, Service Enablement, and Optical Security and Performance Products.
Recently, Viavi has made significant strides in 6G and AI research through its 6G Forward Program, collaborating with Northeastern University's Institute for Wireless Internet of Things. This partnership focuses on developing a city-scale digital twin of a 6G network using AI and ML technologies. The company has also introduced performance testing capabilities for Post-Quantum Cryptography (PQC) system deployments, addressing emerging security threats posed by quantum computing.
Other notable updates include Viavi joining the Strategic Board of the OpenAirInterface Software Alliance to advance open-source initiatives within the telecommunications industry and the launch of their altGNSS GEO SecureTime services, which provide nanosecond-accurate UTC timing for critical infrastructure independently of traditional GPS and GNSS.
Financially, Viavi reported a net revenue of $246.0 million for the third fiscal quarter of 2024, with ongoing challenges in the service provider and enterprise segments. Despite these hurdles, the company remains committed to innovation and collaboration, continually evolving to meet the demands of the ever-changing technology landscape.
Viavi Solutions Inc. (NASDAQ: VIAV) announced the launch of advanced performance testing for Secure Access Service Edge (SASE) networks through its TeraVM SASE Test platform. This virtualized solution emulates large-scale traffic to measure performance across various vectors, helping clients meet Service Level Agreements (SLAs) by identifying and resolving performance, security, or access issues. The TeraVM SASE Test will be showcased at the RSA Conference 2023, held from April 24-27 in San Francisco. The demand for SASE networks is increasing as businesses adapt to hybrid work environments and cloud services, with Gartner predicting that 40% of enterprises will adopt explicit SASE strategies by 2024. This innovation reflects Viavi's commitment to delivering reliable and secure user experiences in evolving IT landscapes.
Viavi Solutions Inc. (NASDAQ: VIAV) announced preliminary financial results for the fiscal third quarter ending April 1, 2023. Revenue is projected between $246 million and $248 million, a decline from previous guidance of $256 million to $276 million. This decrease is largely attributed to a significant pullback in demand for Lab products within the NSE segment. The anticipated non-GAAP operating margin is also expected to fall between 10.5% and 11.5%, down from the previously forecasted range of 13.0% to 14.2%. CEO Oleg Khaykin noted a marked conservatism in R&D spending among network equipment manufacturers and semiconductor companies.
Despite these challenges, the rest of the NSE business met expectations, and cost reduction measures are on track.
Viavi Solutions Inc. (NASDAQ: VIAV) announced that its AVX-10K Flight Line Test Set has been approved for use on all Boeing commercial aircraft, replacing the IFR4000 and IFR6000 models. This versatile device streamlines performance verification and troubleshooting of airborne systems, supporting maintenance needs with its intuitive design and comprehensive test capabilities. The AVX-10K combines multiple avionics tests into one unit, enhancing technician productivity and reducing ownership costs. VIAVI encourages interested facilities to access specification documents for the AVX-10K. This approval signifies an important milestone in further integrating VIAVI's solutions into the aviation market.
Viavi Solutions (NASDAQ: VIAV) has been selected by Auray to provide TM500 and TeraVM validation solutions for its new open testing and integration center (OTIC) and security lab in Kaohsiung City, Taiwan. This OTIC, the first approved by the O-RAN ALLIANCE in Taiwan, opens on March 9, 2023. The lab will utilize VIAVI's solutions for end-to-end testing and validation to assist vendors and operators in meeting O-RAN standards. VIAVI's comprehensive test suite is crucial for validating network products globally, ensuring high standards for O-RAN applications.
Viavi Solutions (NASDAQ: VIAV) announced new Ethernet testing solutions at OFC 2023, held from March 7-9 in San Diego. The company unveiled its High-Speed Ethernet (HSE) Platform, capable of testing devices up to 128 x 800G, enhancing its ONT-800 Platform. The new platform addresses the increasing demand for sophisticated testing due to Ethernet's rapid growth in bandwidth. Viavi also showcased its 800G Ethernet Technology Consortium (ETC) capability and introduced QSFP-DD800 Loopback Adapters for cost-effective testing. These advancements position Viavi as a leader in optical network testing.
Viavi Solutions Inc. (NASDAQ: VIAV) announced on March 1, 2023, that it will issue $250 million in new 1.625% Senior Convertible Notes due 2026. This includes $132 million from the exchange of existing 1.00% Senior Convertible Notes due 2024 and $118 million from cash subscriptions. After these transactions, approximately $96 million of the 2024 Notes will remain outstanding. The new notes will pay interest semi-annually and have a conversion price of about $13.19 per share, which is a 22.5% premium over the March 1 closing price of $10.77. The closing of these transactions is expected around March 6, 2023.
Viavi Solutions Inc. (NASDAQ: VIAV) has launched NITRO Discovery, a high-scale, low-latency solution for real-time discovery of network assets, available on the ServiceNow Store. This integration enhances the Telecommunications Network Inventory (TNI) Platform, allowing operators to maintain precise network inventory and topology, which is essential for AI/ML algorithms. NITRO Discovery is built upon Viavi's acquisition of CanGo Networks in June 2022. The solution supports multi-vendor environments and is designed to address visibility challenges in evolving network architectures. It will be showcased at MWC Barcelona from February 27 to March 2, 2023.
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