Viavi Solutions (VIAV) Q1 FY2027 earnings: revenue $469 million, up 56.9% on the year

Viavi Solutions Inc. (VIAV) reported revenue of $469 million for Q1 FY2027, the quarter ended 3 October 2026, up 56.9% on the same quarter a year earlier. Net income was $76 million, and diluted earnings per share $0.29. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$469 million

+56.9% on the year · +5.9% on the quarter

Q2 FY2025Q1 FY2027

Operating margin

17.4%

2.5% a year earlier

Q2 FY2025Q1 FY2027

Net income

$76 million

+132.4% on the quarter

Q2 FY2025Q1 FY2027

Diluted EPS

$0.29

+123.1% on the quarter

Q2 FY2025Q1 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 new.

Revenue rose 56.9% year-over-year: Net revenue was $469.3 million, up 56.9% from $299.1 million a year earlier and 5.9% above the prior quarter’s $443.1 million.
Revenue came in above guidance: Management said first quarter performance came in above the high end of the $450 million to $460 million revenue range given in the prior release.
Non-GAAP EPS rose to $0.47: Non-GAAP diluted EPS was $0.47, up from $0.15 a year earlier and $0.34 in the prior quarter. GAAP diluted EPS was $0.29.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Revenue	469	443	299	+5.9%	+56.9%
Cost of revenue	182	181	130	+0.3%	+39.9%
Gross profit	287	262	169	+9.8%	+70.0%
Gross margin	61.2%	59.1%	56.5%
Research and development	69.5	69.8	56.0	-0.4%	+24.1%
Selling, general and administrative	130	124	104	+4.2%	+24.3%
Operating income	81.7	61.3	7.6	+33.3%	+975.0%
Operating margin	17.4%	13.8%	2.5%
Interest expense	5.7	10.4	7.4	-45.2%	-23.0%
Pre-tax income	86.3	43.5	-2.3	+98.4%
Income tax	11.9	11.4	19.0	+4.4%	-37.4%
Effective tax rate	13.8%	26.2%	n/a
Net income	76.0	32.7	-21.4	+132.4%
Net margin	16.2%	7.4%	-7.2%
Diluted EPS	$0.29	$0.13	-$0.10	+123.1%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Operating cash flow	105	66.7	31.0	+57.0%	+237.7%
Capital expenditure	12.0	11.1	8.5	+8.1%	+41.2%
Free cash flow	92.7	55.6	22.5	+66.7%	+312.0%
Free cash flow margin	19.8%	12.5%	7.5%
Cash from investing	-18.7	-9.5	-8.3
Cash from financing	-207	91.8	97.7
Depreciation and amortisation	17.7	17.6	11.3	+0.6%	+56.6%
Share-based compensation	15.9	14.2	13.4	+12.0%	+18.7%
Buybacks	150	0.0	30.0		+400.0%
Diluted shares, weighted	266m	261m	223m	+2.0%	+19.4%
Shares outstanding at period end	246m	247m	223m	-0.4%	+10.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Shareholders' equity	1,324	1,448	724	-8.6%	+82.9%
Debt	642	642	792	+0.1%	-18.8%
Operating lease liabilities	28.8	31.2	29.4	-7.7%	-2.0%
Other liabilities	593	584	537	+1.6%	+10.5%
Total liabilities and equity	2,589	2,706	2,082	-4.3%	+24.3%
Fixed assets	231	224	230	+2.9%	+0.3%
Goodwill	705	701	592	+0.7%	+19.1%
Intangible assets	371	378	123	-1.7%	+201.1%
Investments	5.1	5.0	4.8	+2.0%	+6.2%
Trading assets	2.0	1.9	1.7	+5.3%	+17.6%
Cash and equivalents	527	648	544	-18.7%	-3.1%
Receivables	335	351	242	-4.6%	+38.4%
Inventory	174	155	124	+11.9%	+39.6%
Other assets	239	242	220	-1.0%	+8.9%
Total assets	2,589	2,706	2,082	-4.3%	+24.3%

Questions

What was Viavi Solutions' revenue in Q1 FY2027?

Viavi Solutions (VIAV) reported revenue of $469 million for Q1 FY2027, the quarter ended 3 October 2026, up 56.9% on the same quarter a year earlier.

How much did Viavi Solutions earn in Q1 FY2027?

Net income for Q1 FY2027 was $76 million, and diluted earnings per share $0.29.

When did Viavi Solutions report Q1 FY2027 results?

Viavi Solutions filed its 10-Q for the quarter ended 3 October 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	315	316	335	310	284	248	264	248	254	246	252	238	271	285	290	299	369	407	443	469
Cost of revenue	124	129	134	125	118	107	118	104	106	108	106	102	110	124	127	130	159	173	181	182
Gross profit	190	187	201	185	167	141	146	144	148	138	146	136	161	161	164	169	211	234	262	287
Gross margin	61%	59%	60%	60%	59%	57%	55%	58%	58%	56%	58%	57%	59%	56%	56%	57%	57%	58%	59%	61%
R&D	50.5	54.9	54.2	52.6	51.9	50.8	51.6	49.9	49.5	50.0	52.5	49.4	52.1	50.0	57.2	56.0	65.9	71.0	69.8	69.5
SG&A	88.2	89.0	96.7	80.2	90.0	80.0	78.5	77.2	74.8	98.2	83.1	74.1	84.3	101	89.7	104	127	114	124	130
Operating income	49.3	40.8	48.0	49.8	22.9	-2.1	11.8	16.0	22.4	-11.9	-5.7	11.5	22.2	8.5	15.3	7.6	11.4	24.8	61.3	81.7
Operating margin	16%	13%	14%	16%	8%	-1%	4%	6%	9%	-5%	-2%	5%	8%	3%	5%	3%	3%	6%	14%	17%
Interest expense	7.1	6.4	6.2	6.1	6.2	6.7	8.1	7.8	7.9	7.7	7.5	7.5	7.5	7.5	7.5	7.4	15.3	14.3	10.4	5.7
Pre-tax income	n/a	n/a	n/a	44.8	18.9	-9.4	6.4	18.4	18.3	-15.6	-9.5	7.2	18.6	3.2	9.6	-2.3	-38.7	13.8	43.5	86.3
Tax rate	n/a	n/a	n/a	27%	56%	n/a	102%	47%	42%	n/a	n/a	125%	51%	-509%	23%	n/a	n/a	54%	26%	14%
Net income	34.6	19.2	16.5	32.6	8.4	-15.4	-0.1	9.8	10.7	-24.6	-21.7	-1.8	9.1	19.5	8.0	-21.4	-48.1	6.4	32.7	76.0
Net margin	11%	6%	5%	11%	3%	-6%	-0%	4%	4%	-10%	-9%	-1%	3%	7%	3%	-7%	-13%	2%	7%	16%
Diluted EPS	$0.14	$0.08	$0.09	$0.14	$0.04	-$0.07	$0.00	$0.04	$0.05	-$0.11	-$0.10	-$0.01	$0.04	$0.09	$0.04	-$0.10	-$0.21	$0.03	$0.13	$0.29
Operating cash flow	22.2	28.9	73.6	26.6	46.2	17.8	23.5	50.3	20.4	19.5	26.2	13.5	44.7	7.8	23.8	31.0	42.5	-26.3	66.7	105
Capital expenditure	18.4	19.3	19.1	14.8	18.1	10.8	7.4	6.7	5.8	3.2	3.8	7.3	8.2	6.8	5.5	8.5	5.6	5.9	11.1	12.0
Free cash flow	3.8	9.6	54.5	11.8	28.1	7.0	16.1	43.6	14.6	16.3	22.4	6.2	36.5	1.0	18.3	22.5	36.9	-32.2	55.6	92.7
Buybacks	117	81.4	28.9	18.7	25.2	30.0	10.0	10.0	0.0	0.0	10.0	16.4	0.0	0.0	0.0	30.0	0.0	0.0	0.0	150
Shares outstanding	233m	228m	226m	227m	225m	222m	222m	222m	223m	223m	222m	222m	222m	223m	223m	223m	231m	234m	247m	246m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 3 October 2026, filed 5 November 2026: the filing.