Viavi Solutions Inc (NASDAQ: VIAV) is a network test and optical security company that designs, manufactures, and sells instruments, software, and optical products for communications networks and anti-counterfeiting applications. It generates revenue through two segments: Network and Service Enablement (NSE), which sells test instruments, network management software, and AIOps solutions, and Optical Security and Performance (OSP), which sells security pigments for banknotes and optical filters for consumer electronics and 3D sensing. NSE contributed 71.6% of total net revenue ($776.6M) and OSP contributed 28.4% ($307.7M) in FY2025 (fiscal year ended June 28, 2025), for total net revenue of $1,084.3M. Customers include communications service providers, network equipment manufacturers, OEMs, enterprises, and government organizations. Service revenue, consisting of maintenance, support, extended warranty, professional services, and calibration, exceeded 10% of total consolidated net revenue in FY2025. GAAP operating income was $57.5M (5.3% margin) in FY2025, up from $20.8M (2.1% margin) in FY2024.

Revenue model

Product sales of test instruments, network management and AIOps software, security pigments, and optical filters, supplemented by service revenue from maintenance, support, extended warranties, professional services, calibration, and repair. Revenue is transactional for products and recurring for service contracts.

Products and services

NSE segment: fiber test instruments, wireless network test hardware and software, AIOps and network automation solutions, Network Performance and Threat Solutions (NPTS) for enterprise IT security, and aerospace and defense test equipment. OSP segment: optical security pigments for banknote anti-counterfeiting, optical filters for 3D sensing and smartphone sensors, and handheld and process spectrometers for agriculture, law enforcement, pharmaceuticals, and food markets.

Customers and end markets

Communications service providers (CSPs), network equipment manufacturers (NEMs), OEMs, enterprises, government and defense organizations, and distributors. End markets include wireline and wireless telecom, cloud and satellite networks, public safety and military communications, banknote security for central banks, consumer electronics (3D sensing), automotive, industrial, and pharmaceuticals.

Value-chain role

Upstream test-and-measurement and optical materials supplier. VIAV sits between component and equipment manufacturers and network operators, providing instruments and software used in lab, production, and field environments to develop, deploy, and manage networks. In OSP, it is a materials and pigment manufacturer supplying security features to banknote printers and document issuers.

Geographic exposure

Worldwide sales through direct sales force and channel partners. Foreign currency fluctuations affected results in FY2025, primarily in the NSE segment, per the FY2025 10-K filing.

Source: SEC 10-K, filed 2025-08-11

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