Aviat Networks Q4: Revenue Up 4.8%, But Margins Slide; FY27 Guidance Set at $455–$470M
AVNW sits 58% above its 52-week low of $13.92.
Summary
Aviat Networks reported Q4 revenue of $120.9 million, up 4.8%, but gross margin fell 340 bps and GAAP swung to a $1.3 million loss. The company guided fiscal 2027 revenue to $455–$470 million with Adjusted EBITDA of $50–$55 million.
Key Events · Earnings and Guidance · AVNW
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Q4 Revenue Up 4.8%
Total revenue of $120.9 million, up from $115.3 million a year ago; North America revenue of $68.3 million rose 17.8%.
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Gross Margin Compressed
GAAP gross margin fell to 30.8% from 34.2% a year ago, a 340 bps decline driven by product and customer mix.
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GAAP Net Loss of $1.3M
Q4 swung to a GAAP net loss of $1.3 million, or $(0.10) per share, from net income of $5.2 million a year ago; non-GAAP EPS was $0.64.
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FY27 Guidance Issued
Fiscal 2027 revenue guided to $455–$470 million with Adjusted EBITDA of $50–$55 million, implying significant margin expansion from FY26's $36.7 million.
Analysis · AVNW · Manufacturing
Aviat delivered a mixed quarter: revenue grew 4.8% to $120.9 million and North America jumped 17.8%, but gross margin fell 340 basis points year-over-year and the company swung to a GAAP net loss of $1.3 million. The real story is the fiscal 2027 outlook — revenue of $455–$470 million and Adjusted EBITDA of $50–$55 million — which implies meaningful margin expansion from the $36.7 million Adjusted EBITDA just reported for all of fiscal 2026. Backlog of $367 million, up 14%, supports that growth, but the margin compression and higher tax expense are the near-term headwinds.
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At the time of this filing, AVNW was trading at $22.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $270.6M. The 52-week trading range was $13.92 to $27.02. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.