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Aviat Networks Inc

aviatnetworks.com

Aviat Networks (NASDAQ: AVNW) is a wireless networking equipment company that designs, manufactures, and sells microwave and millimeter wave radio systems used to transport data across telecommunications and private networks. Revenue comes from selling radios, routers, software, and professional services to mobile operators, governments, utilities, and private network operators. The company serves more than 3,000 customers globally as of the FY2025 10-K filing, with mobile backhaul described as its primary addressable market segment globally in fiscal 2025. Product families include CTR 8000, WTM 4000, RDL 3000, Aprisa, IRU 600, Pasolink, and ProVision Plus, covering transmission frequencies from 450 MHz to 90 GHz with capacities up to 20 Gbps. Aviat also operates an e-commerce platform, Aviat Store, targeting mobile operators and private network customers with direct online ordering. The company acquired 4RF Limited in July 2024 for $18.2 million net of cash, expanding into industrial wireless access. Manufacturing follows an outsourced model using contract partners in Asia and Austin, Texas. The technology portfolio is supported by more than 400 patents as of the FY2025 filing. Peter A. Smith has served as President and CEO since January 2020.

Products & Services

Microwave and millimeter wave radio platforms: CTR 8000 routers, WTM 4000 series (including WTM 4100, 4200, 4800, STR 4500), RDL 3000, IRU 600, Pasolink, Aprisa narrowband radios. Network management software: ProVision Plus, AviatCloud, Frequency and Health Assurance modules. Professional services: network design, installation, maintenance, training, and accreditation programs. E-commerce: Aviat Store with next-day shipment options.

Revenue Model

Transactional and services-based. Revenue is generated from hardware product sales (radios, routers), software licenses and upgrades, and professional services including installation, maintenance, training, and managed services. Sales occur through direct channels, third-party distributors, and the Aviat Store e-commerce platform.

Customers & Markets

More than 3,000 customers as of the FY2025 10-K. End markets include mobile operators (5G and LTE backhaul), public safety networks for state and local governments, utilities and private network operators, financial industry (low-latency trading links), ISPs and Tier 2 operators, and industrial and remote connectivity applications including oilfields, mines, and rural broadband.

Geographic Exposure

Global operations with North America as a primary market, including U.S. mobile operator and public safety deployments. International markets include Asia, Europe, and other regions with ongoing LTE and 5G build-outs. Repair and service centers in the Philippines and the United States. 4RF Limited acquisition adds a New Zealand-based operation. Manufacturing in Austin, Texas and via contract manufacturers in Asia.

Financial Snapshot

Revenue
TTM
$434.1M
Gross Margin
TTM
32.28%
Net Income
TTM
$9.012M
Current Assets
2026 Q1
Current Liabilities
2026 Q1
Current Ratio
2026 Q1
199.02%
Total Assets
2026 Q1
Total Liabilities
2026 Q1
Book Value
2026 Q1
$271.8M
Cash
2026 Q1
P/E
TTM
29.41
Free Cash Flow
TTM
$11.86M

Stock Price

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Market Cap: $265 Million

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