olivLaw · US equity research
Aviat Networks, Inc. AVNW
Radio & Tv Broadcasting & Communications Equipment · SIC 3663 · Vertical: Radio & Tv Broadcasting & Communications Equipment (SIC 3663)
Aviat Networks designs and sells microwave and wireless access networking equipment and services used by telecom operators and private network customers. Revenue edged up in fiscal 2026, and guidance for fiscal 2027 points to moderate growth if demand in backhaul and private markets holds.
At the close of 04 Nov 2026, Aviat Networks, Inc. (AVNW) stock was 19.90 USD (−1.09% on the day), with market capitalisation 254.8 m USD, P/E 104.7 on diluted EPS of 0.19 USD over the last 12 months, beta 1.20, 52-week range 15.09–26.74 USD. Latest reported quarter (Q4 2026): revenue of 120.9 m USD (+4.8% YoY), net income of -1.3 m USD (−124.6% YoY), diluted EPS -0.10 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.1
- neutral
- Bollinger (20, 2)
- 18.73 – 21.03
- in the upper half of the band · %B 0.51 · band width 11.6%
- SMA 50 / 200
- 20.00 / 21.14
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.06
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −3.1% | −1.1% | −2.0 pp | — |
| 3 months | −6.4% | −0.5% | −5.9 pp | — |
| 6 months | +20.8% | +4.4% | +16.4 pp | — |
| Year to date | −6.9% | +12.3% | −19.2 pp | — |
| 1 year | −17.8% | +13.5% | −31.3 pp | +3.5% |
| 3 years | −34.8% | +76.4% | −111.2 pp | +58.8% |
| 5 years | −38.3% | +63.7% | −102.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q4 2026 · 03 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 88.4 m | 118.2 m | 112.6 m | 115.3 m | 107.3 m | 111.5 m | 100.0 m | 120.9 m |
| Cost of revenue | 68.6 m | 77.3 m | 73.3 m | 75.9 m | 71.7 m | 75.4 m | 70.7 m | 83.6 m |
| Gross profit | 19.8 m | 40.9 m | 39.3 m | 39.5 m | 35.7 m | 36.1 m | 29.3 m | 37.2 m |
| Research & development | 10.4 m | 10.2 m | 7.7 m | 7.4 m | 7.1 m | 6.4 m | 7.7 m | 7.2 m |
| SG&A | 24.9 m | 21.3 m | 22.1 m | 21.1 m | 23.4 m | 22.4 m | 20.4 m | 22.4 m |
| Operating income | -15.6 m | 8.0 m | 9.3 m | 8.9 m | 5.2 m | 7.3 m | 939.0 k | 5.8 m |
| Depreciation & amortisation | 1.3 m | 1.5 m | 1.2 m | 1.4 m | 463.0 k | 900.0 k | 700.0 k | 1.2 m |
| Pre-tax income | -17.4 m | 6.1 m | 4.7 m | 10.2 m | 2.5 m | 8.1 m | -2.3 m | 4.9 m |
| Income tax | -5.5 m | 1.6 m | 1.1 m | 5.0 m | 2.3 m | 2.4 m | -244.0 k | 6.2 m |
| Net income | -11.9 m | 4.5 m | 3.5 m | 5.2 m | 162.0 k | 5.7 m | -2.1 m | -1.3 m |
| Diluted EPS | -0.94 | 0.35 | 0.27 | 0.39 ≈ | 0.01 | 0.44 | -0.16 | -0.10 ≈ |
| Operating cash flow | -27.2 m | 20.8 m ≈ | 1.6 m ≈ | 10.5 m | -11.7 m | 23.9 m ≈ | -1.7 m ≈ | 3.1 m |
| Capex | 5.4 m | 2.5 m ≈ | 2.8 m ≈ | 2.3 m | 1.7 m | 1.4 m ≈ | 3.7 m ≈ | 615.0 k |
| Share repurchases | — | — | 99.0 k ≈ | — | — | — | 500.0 k ≈ | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 87 percentile of its own 31-quarter history (min 3.4, median 22.1, max 838.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 243.9 m | 238.6 m | 274.9 m | 303.0 m | 344.4 m | 408.1 m | 434.6 m | 439.7 m |
| Revenue YoY | +0.6% | −2.1% | +15.2% | +10.2% | +13.7% | +18.5% | +6.5% | +1.2% |
| Net income | 9.7 m | 257.0 k | 110.1 m | 21.2 m | 10.2 m | 10.8 m | 1.3 m | 2.5 m |
| Net income YoY | +427.8% | −97.4% | +42,755.6% | −80.8% | −51.9% | +5.8% | −87.5% | +89.3% |
| Diluted EPS | 0.87 | 0.02 | 9.42 | 1.79 | 0.86 | 0.86 | 0.10 | 0.19 |
| Diluted EPS YoY | +163.6% | −97.7% | +47,000.0% | −81.0% | −52.0% | 0.0% | −88.4% | +90.0% |
| net % | 4.0% | 0.1% | 40.1% | 7.0% | 3.0% | 2.6% | 0.3% | 0.6% |
| Free cash flow | -2.3 m | 12.9 m | 14.5 m | 997.0 k | -7.0 m | 27.9 m | -7.2 m | 6.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 03 Jul 2026
- Cash
- 72.8 m USD
- Financial debt
- 97.0 m USD
- Net debt
- 24.2 m USD
- Equity
- 267.4 m USD
- Total assets
- 599.0 m USD
- Debt / equity
- 0.36x
- Current ratio
- 1.97x
- ROE
- 1.0%
- ROA
- 0.4%
- FCF margin
- 1.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 274.9 m | 303.0 m | 344.4 m | 408.1 m | 434.6 m | 439.7 m | SEC (XBRL)· 27 Aug 2026verified |
| Cost of revenue | 172.3 m | 193.7 m | 222.1 m | 263.4 m | 295.2 m | 301.4 m | SEC (XBRL)· 27 Aug 2026verified |
| Gross profit | 102.6 m | 109.2 m | 122.4 m | 144.7 m | 139.4 m | 138.3 m | SEC (XBRL)· 27 Aug 2026verified |
| Research & development | 21.8 m | 22.6 m | 24.9 m | 36.4 m | 35.8 m | 28.4 m | SEC (XBRL)· 27 Aug 2026verified |
| SG&A | 56.3 m | 57.7 m | 69.8 m | 85.0 m | 89.5 m | 88.5 m | SEC (XBRL)· 27 Aug 2026verified |
| Operating income | 22.2 m | 28.7 m | 24.6 m | 19.4 m | 10.6 m | 19.2 m | SEC (XBRL)· 27 Aug 2026verified |
| Depreciation & amortisation | 5.4 m | 4.5 m | 5.5 m | 4.0 m | 5.3 m | 3.3 m | SEC (XBRL)· 27 Aug 2026verified |
| EBITDA | 27.6 m ≈ | 33.2 m ≈ | 30.1 m ≈ | 23.4 m ≈ | 15.9 m ≈ | 22.5 m ≈ | SEC (XBRL)· 27 Aug 2026derived |
| Interest expense | 0 | — | — | — | — | — | SEC (XBRL)· 25 Aug 2021verified |
| Pre-tax income | 22.4 m | 30.4 m | 21.3 m | 16.9 m | 3.6 m | 13.2 m | SEC (XBRL)· 27 Aug 2026verified |
| Income tax | -87.7 m | 9.3 m | 11.1 m | 6.1 m | 2.2 m | 10.7 m | SEC (XBRL)· 27 Aug 2026verified |
| Net income | 110.1 m | 21.2 m | 10.2 m | 10.8 m | 1.3 m | 2.5 m | SEC (XBRL)· 27 Aug 2026verified |
| Diluted EPS | 9.42 | 1.79 | 0.86 | 0.86 | 0.10 | 0.19 | SEC (XBRL)· 27 Aug 2026verified |
| Weighted average diluted shares | 11.7 m | 11.8 m | 11.9 m | 12.5 m | 12.8 m | 13.0 m | SEC (XBRL)· 27 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 47.9 m | 36.9 m | 22.2 m | 64.6 m | 59.7 m | 72.8 m | SEC (XBRL)· 27 Aug 2026verified |
| Receivables | 48.1 m | 73.2 m | 100.9 m | 158.0 m | 180.3 m | 192.2 m | SEC (XBRL)· 27 Aug 2026verified |
| Current assets | 170.2 m | 206.4 m | 235.9 m | 405.2 m | 463.6 m | 439.2 m | SEC (XBRL)· 27 Aug 2026verified |
| Property, plant & equipment, net | 11.7 m | 8.9 m | 9.5 m | 9.5 m | 17.5 m | 18.8 m | SEC (XBRL)· 27 Aug 2026verified |
| Goodwill | — | 0 | 5.1 m | 8.2 m | 19.7 m | 19.4 m | SEC (XBRL)· 27 Aug 2026verified |
| Intangibles (excl. goodwill) | — | 0 | 9.0 m | 13.6 m | 26.9 m | 23.6 m | SEC (XBRL)· 27 Aug 2026verified |
| Total assets | 297.7 m | 323.9 m | 363.1 m | 535.2 m | 633.3 m | 599.0 m | SEC (XBRL)· 27 Aug 2026verified |
| Accounts payable | 32.4 m | 42.4 m | 60.1 m | 92.9 m | 148.1 m | 119.5 m | SEC (XBRL)· 27 Aug 2026verified |
| Short-term debt | 0 | 0 | 0 | 2.4 m | 18.6 m | 7.9 m | SEC (XBRL)· 27 Aug 2026verified |
| Long-term debt | — | — | 0 | 46.0 m | 69.0 m | 89.1 m | SEC (XBRL)· 27 Aug 2026verified |
| Current liabilities | 96.4 m | 104.5 m | 130.1 m | 218.9 m | 282.2 m | 223.2 m | SEC (XBRL)· 27 Aug 2026verified |
| Total liabilities | 114.3 m | 122.2 m | 144.4 m | 279.3 m | 370.1 m | 331.6 m | SEC (XBRL)· 27 Aug 2026verified |
| Equity | 183.3 m † | 201.8 m † | 218.7 m † | 255.9 m † | 263.2 m † | 267.4 m † | SEC (XBRL)· 27 Aug 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 17.3 m | 2.8 m | -1.6 m | 30.5 m | 5.7 m | 13.6 m | SEC (XBRL)· 27 Aug 2026verified |
| Capex | 2.8 m | 1.8 m | 5.3 m | 2.7 m | 13.0 m | 7.5 m | SEC (XBRL)· 27 Aug 2026verified |
| Free cash flow | 14.5 m ≈ | 997.0 k ≈ | -7.0 m ≈ | 27.9 m ≈ | -7.2 m ≈ | 6.1 m ≈ | SEC (XBRL)· 27 Aug 2026derived |
| Investing cash flow | -2.8 m | -7.8 m | -11.9 m | -35.2 m | -28.5 m | -7.3 m | SEC (XBRL)· 27 Aug 2026verified |
| Financing cash flow | -8.0 m | -4.9 m | -681.0 k | 48.7 m | 18.7 m | 6.3 m | SEC (XBRL)· 27 Aug 2026verified |
| Share repurchases | 0 | 0 | — | — | — | — | SEC (XBRL)· 14 Sept 2022verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 41 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 254.8 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet41
- Growth33
- Valuation66
- Quality20
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 11.03 – 224.13 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/Sales29.88 – 224.13 (Mid 76.48)10 companies used · median multiple 2.3x · quartiles 0.9x – 6.6xBKSY, CRNT, GILT, HLIT, KUST, MSI, QCOM, UI, VISN, WATT
- Peers: EV/EBITDA11.03 – 39.61 (Mid 21.44)6 companies used · median multiple 13.3x · quartiles 7.4x – 23.6xCRNT, GILT, MSI, QCOM, UI, VISN
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 41/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 31.5% | 0 (on a fixed band) | 11% |
| EBIT margin · Quality | 4.4% | 60 (vs peers) | 9% |
| FCF margin · Quality | 1.4% | 6 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 8.5% | 34 (on a fixed band) | 18% |
| Revenue growth (YoY) · Growth | 1.2% | 30 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | 1.1x | 13 (vs peers) | 7% |
| Current ratio · Balance sheet | 2.0x | 69 (on a fixed band) | 7% |
| EV/Sales · Valuation | 0.6x | 80 (vs peers) | 18% |
| FCF yield · Valuation | 2.4% | 48 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet41/100 · 2/2 factors with a value
- Growth33/100 · 2/2 factors with a value
- Quality20/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation66/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Aviat Networks, Inc. (AVNW). Latest full fiscal year: 2026; data up to 2026-07-03.
Figures computed from the financial statements: revenue 439.7 m USD in 2026; YoY growth 1.2%; net margin 0.6%; ROE 1.0%; net debt/EBITDA 1.1x.
The estimated value range is 20.46–131.87 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 48.96 USD, the price of 19.90 USD leaves a potential of 146.0% (value / price − 1) and a margin of safety of 59.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 41/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EV/Sales: 0.6x
- The price is below the estimated value range
What contradicts it
- Gross margin: 31.5%
- FCF margin: 1.4%
- Revenue growth (YoY): 1.2%
- Net debt / EBITDA: 1.1x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Shareholder yield (distributions).
Versus the vertical median
Radio & Tv Broadcasting & Communications Equipment (SIC 3663) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| QCOMQualcomm Inc | 185.3 bn | 13.6 | 52.8% | 31.6% | −2.6% | +3% / +34% |
| MSIMotorola Solutions, Inc. | 82.2 bn | 40.0 | 77.2% | 16.5% | +8.0% | +34% / +54% |
| UIUbiquiti Inc. | 34.0 bn | 35.4 | 91.1% | 29.3% | +27.2% | −4% / +400% |
| PLPlanet Labs PBC | 3.3 bn | — | -72.0% | -95.1% | +25.9% | +6% / +421% |
| ONDSOndas Inc. | 3.0 bn | 18.0 | 20.1% | 96.0% | +605.3% | −33% / +381% |
| VISNVistance Networks, Inc. | 1.5 bn | 0.2 | 22,304.0% | 247.7% | +39.7% | −67% / +286% |
| HLITHarmonic Inc. | 1.1 bn | — | -11.7% | -13.7% | −26.2% | +7% / −8% |
| BKSYBlacksky Technology Inc | 686.3 m | — | -44.8% | -61.2% | +4.4% | −5% / +59% |
| UMACUnusual Machines, Inc. | 650.9 m | — | -2.9% | -20.3% | +101.2% | +49% / unavailable |
| GILTGilat Satellite Networks Ltd. | 521.2 m | 20.8 | 5.2% | 4.6% | +47.9% | −39% / +10% |
| AVNWAviat Networks, Inc. | 254.8 m | 104.7 | 1.0% | 0.6% | +1.2% | −18% / −35% |
| BKTIBK Technologies Corp | 252.4 m | 19.7 | 30.6% | 15.0% | +12.5% | +5% / +415% |
| CRNTCeragon Networks Ltd | 176.8 m | — | -1.2% | -0.6% | −14.1% | −2% / +6% |
| VUZIVuzix Corp | 171.4 m | — | -122.7% | -519.0% | +9.1% | −25% / −3% |
| SATLSatellogic Inc. | 87.6 m | — | — | -325.6% | +37.6% | +95% / +140% |
| AIRGAirgain, Inc. | 55.4 m | — | -23.7% | -13.6% | −14.6% | +4% / +76% |
| WATTEnergous Corporation | 45.0 m | — | -32.8% | -76.4% | +633.1% | +30% / −87% |
| CMTLComtech Telecommunications Corp | 37.4 m | — | -50.5% | -14.5% | −17.0% | −59% / −90% |
| KUSTKustom Entertainment, Inc. | 22.6 m | — | -323.8% | -126.5% | +1.7% | −98% / −100% |
| NOKNokia Corporation | — | — | 3.1% | 3.3% | +3.5% | +36% / +137% |
| ERICEricsson Lm Telephone Co | — | — | 27.9% | 12.0% | −4.5% | +15% / +126% |
1- and 3-year price returns: for AVNW from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 12.77 Total return -36% · Per year -36% | 22.53 Total return 13% · Per year 13% | 33.89 Total return 70% · Per year 70% |
| 3 years | 13.40 Total return -33% · Per year -12% | 26.52 Total return 33% · Per year 10% | 43.64 Total return 119% · Per year 30% |
| 5 years | 14.07 Total return -29% · Per year -7% | 31.20 Total return 57% · Per year 9% | 56.19 Total return 182% · Per year 23% |
- Exit P/E± 6.63
- Net margin± 4.64
- Annual revenue growth± 3.67
- Annual dilution± 0.39
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Aviat Networks designs and sells microwave and wireless access networking equipment and services used by telecom operators and private network customers. Revenue edged up in fiscal 2026, and guidance for fiscal 2027 points to moderate growth if demand in backhaul and private markets holds.
SWOT
Strengths
- Broad wireless product portfolio and a large installed base with customers in many countries 12.
- Revenue and backlog growth in fiscal 2026, with a trailing book-to-bill ratio above 1 in the fourth quarter 2.
- Expertise in total cost of ownership and in services supports demand from existing customers 1.
Weaknesses
- Reliance on a limited number of customers and on sole sources for some components can affect deliveries 1.
- Quarterly revenue is volatile due to long sales cycles and contracts concentrated late in quarters 1.
- Gross margin fell in the fourth quarter of fiscal 2026 compared with the prior year, driven by product and customer mix 2.
Opportunities
Risks
- Dependence on large contracts and a few customershigh
A significant share of revenue comes from a limited number of customers, and delays in large contracts could affect quarterly results 1.
- Tariff and supply chain pressuremedium
Tariffs and supply chain disruption could raise production costs and reduce margins 1.
- Price competitionmedium
Pricing pressure could reduce average revenue per product, especially in international markets 1.
- International market exposuremedium
Given the large share of international sales, political, economic and currency risks could affect results 1.
- Cybersecurity and product quality riskslow
Product errors or cyberattacks could harm reputation and increase costs 1.
Investment thesis
What would need to be true (bull case)
- If investment in 5G, backhaul and private networks continues, demand for wireless solutions could support revenue and margin growth 12.
- A growing backlog and fiscal 2027 guidance could indicate better revenue visibility 2.
- Public broadband programs and the software portfolio could open additional revenue sources 1.
What would break the thesis
What to watch
- Delivery against fiscal 2027 revenue and Adjusted EBITDA guidance2027
- Gross margin trend and the effect of tariffs on costsQ1 2027
- Backlog development and book-to-bill ratioQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Aviat Networks, Inc. is a global supplier of microwave and millimeter wave networking solutions, supported by professional services and support 1. It sells to communications service providers and to private network operators such as governments, utilities and public safety agencies 1. Revenue reached 439.7 million USD in fiscal 2026, up 1.2% 1, and fiscal 2027 guidance is 455 to 470 million USD 2.
The company is headquartered in Austin, Texas, and is listed on NASDAQ under AVNW 1. It had 900 employees as of July 3, 2026 1.
Aviat's technology is underpinned by more than 300 patents, and it has more than 3,000 customers 1. The company competes on total cost of ownership and expertise in mission critical communications 1.
Market context
Demand for microwave transport is supported by 5G and LTE rollouts, rising subscriber numbers and connected devices 1. The 42.45 billion USD American federal broadband grant program could support middle mile investment 1. The market remains sensitive to the timing of large projects, which makes quarterly revenue hard to predict.
Trends
- 5G and mobile backhaul expansiontailwind
Rising data traffic and 5G rollouts increase capacity needs in backhaul, where microwave is an alternative to fiber 1. The effect could be positive over the medium term if operators keep investing.
- Broadband grants for rural areastailwind
The American federal grant program for high-speed internet could generate demand for middle mile links 1. Implementation timing and fund distribution remain uncertain.
- Tariff and supply chain cost pressureheadwind
US tariffs on some imported goods have raised costs in the supply chain, and the company has applied mitigation and pricing actions 1. If pressure persists, margins could be affected.
Competitive position
Aviat competes on total cost of ownership, microwave expertise and solutions for mission critical communications 1. The company cites competitive pricing pressure, without listing competitors' market shares 1.
The acquisition of NEC's wireless transport business brought Aviat into direct competition with the Pasolink line, a segment where NEC had been a leader 1. The consolidation increased scale and diversified the portfolio but does not remove competitive pressure 1.
- NEC Corporation
Former leader in wireless backhaul whose business was acquired by Aviat; not confirmed as US-listed in the sources.
- Regional microwave and access equipment suppliers
Local and regional competitors implied by the pricing pressure in international markets.
- Fiber optic and satellite connectivity providers
Alternative connectivity options that compete with wireless solutions, noted in the market description.
- Network software and managed service providers
Competitors in the software and services component where Aviat is expanding its offering.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Aviat Networks (AVNW) Bets Big On Private Networks As Margins SlipYahoo Finance — News · 01 Sept 2026 · EN
- Aviat Networks (AVNW) Q4 2026 Earnings Call TranscriptYahoo Finance — News · 31 Aug 2026 · EN
- Aviat Networks, Inc. Q4 2026 Earnings Call SummaryYahoo Finance — News · 27 Aug 2026 · EN
The latest news item in our archive is from 01 Sept 2026; the newest SEC filing is from 06 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report06 Oct 2026Departure or appointment of officers
- Current report05 Oct 2026Other events · Financial statements and exhibits
- Proxy statement02 Oct 2026
- Current report09 Sept 2026Other events
- Annual report27 Aug 2026
- Current report27 Aug 2026Results of operations · Financial statements and exhibits
- Current report03 Jun 2026Regulation FD disclosure
- Quarterly report04 May 2026
- Current report04 May 2026Results of operations · Financial statements and exhibits
- Current report10 Mar 2026Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-07-03 · SEC / Aviat Networks, Inc. · 27 Aug 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Aviat Networks, Inc. · 27 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.