Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $269M | $242M | $243M | $244M | $239M | $275M | $303M | $344M | $408M | $435M |
| Revenue growth | — | -10.0% | 0.3% | 0.6% | -2.1% | 15.2% | 10.2% | 13.7% | 18.5% | 6.5% |
| Gross profit | $61.7M | $75.5M | $80.5M | $79.3M | $84.7M | $103M | $109M | $122M | $145M | $139M |
| Gross margin | 23.0% | 31.2% | 33.2% | 32.5% | 35.5% | 37.3% | 36.1% | 35.5% | 35.5% | 32.1% |
| Operating income | -$27.4M | -$985K | $1.32M | $1.37M | $3.38M | $22.2M | $28.7M | $24.6M | $19.4M | $10.6M |
| Operating margin | -10.2% | -0.4% | 0.5% | 0.6% | 1.4% | 8.1% | 9.5% | 7.1% | 4.8% | 2.4% |
| Net income | -$29.9M | -$823K | $1.84M | $9.74M | $257K | $110M | $21.2M | $10.2M | $10.8M | $1.34M |
| Net margin | -11.1% | -0.3% | 0.8% | 4.0% | 0.1% | 40.1% | 7.0% | 3.0% | 2.6% | 0.3% |
| EPS (diluted) | -$5.71 | -$0.16 | $0.33 | $0.87 | $0.02 | $9.42 | $1.79 | $0.86 | $0.86 | $0.10 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $356K | $9.40M | $8.21M | $2.94M | $17.5M | $17.3M | $2.79M | -$1.64M | $30.5M | $5.72M |
| Capital expenditures | $1.57M | $4.02M | $6.56M | $5.25M | $4.61M | $2.85M | $1.79M | $5.33M | $2.67M | $13.0M |
| Free cash flow | -$1.22M | $5.38M | $1.65M | -$2.30M | $12.9M | $14.5M | $997K | -$6.98M | $27.9M | -$7.25M |
| Share buybacks | — | $0.00 | $8.00K | $2.32M | $1.77M | $0.00 | $0.00 | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $30.5M | $35.7M | $37.4M | $31.9M | $41.6M | $47.9M | $36.9M | $22.2M | $64.6M | $59.7M |
| Total assets | $166M | $153M | $156M | $169M | $180M | $298M | $324M | $363M | $535M | $633M |
| Total liabilities | $113M | $98.2M | $98.5M | $97.7M | $111M | $114M | $122M | $144M | $279M | $370M |
| Long-term debt | — | — | — | — | — | — | — | $0.00 | $46.0M | $69.0M |
| Shareholders' equity | $53.1M | $53.8M | $57.5M | $71.5M | $68.7M | $183M | $202M | $219M | $256M | $263M |
| Retained earnings | -$747M | -$748M | -$741M | -$731M | -$731M | -$621M | -$599M | -$589M | -$579M | -$577M |
| Shares (wtd avg diluted) | 5.24M | 5.29M | 5.65M | 11.2M | 10.9M | 11.7M | 11.8M | 11.9M | 12.5M | 12.8M |
Every figure is extracted from AVIAT NETWORKS, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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