VIAVI Solutions Inc. Files 2024 10-K

TL;DR

VIAVI filed its 2024 10-K, check financials for the year ending June 29.

AI Summary

VIAVI Solutions Inc. filed its 2024 10-K report, detailing its fiscal year ending June 29, 2024. The company, formerly JDS Uniphase Corp, is based in Chandler, Arizona. The filing covers its financial performance and business operations, with the report being filed on August 16, 2024.

Why It Matters

This 10-K filing provides a comprehensive overview of VIAVI Solutions' financial health and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess performance and future prospects.

Risk Assessment

Risk Level: medium — This is a standard annual financial filing with no immediate red flags or significant new risks highlighted in the provided snippet.

Key Players & Entities

• VIAVI SOLUTIONS INC. (company) — Filer
• JDS UNIPHASE CORP /CA/ (company) — Former company name
• 20240629 (date) — Fiscal year end
• 20240816 (date) — Filing date
• CHANDLER, AZ (location) — Business address

FAQ

Key Financial Figures

• $0.001 — registered Common Stock, par value of $0.001 per share VIAV The Nasdaq Stock Market

Filing Documents

• viav-20240629.htm (10-K) — 2911KB
• viavq4fy24ex8x191xviaviins.htm (EX-19.1) — 101KB
• viavq4fy24ex1x211xsubsidia.htm (EX-21.1) — 45KB
• viavq4fy24ex2x231xconsent.htm (EX-23.1) — 2KB
• viavq4fy24ex3x311x302ceo.htm (EX-31.1) — 7KB
• viavq4fy24ex4x312x302cfo.htm (EX-31.2) — 7KB
• viavq4fy24ex5x321x906ceo.htm (EX-32.1) — 5KB
• viavq4fy24ex6x322x906cfo.htm (EX-32.2) — 5KB
• viavq4fy24ex7x971xcompensa.htm (EX-97.1) — 41KB
• image_0a.jpg (GRAPHIC) — 17KB
• viav-20240629_g1.jpg (GRAPHIC) — 146KB
• 0000912093-24-000063.txt ( ) — 17155KB
• viav-20240629.xsd (EX-101.SCH) — 96KB
• viav-20240629_cal.xml (EX-101.CAL) — 155KB
• viav-20240629_def.xml (EX-101.DEF) — 547KB
• viav-20240629_lab.xml (EX-101.LAB) — 1228KB
• viav-20240629_pre.xml (EX-101.PRE) — 925KB
• viav-20240629_htm.xml (XML) — 3022KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 13 ITEM 1B. UNRESOLVED STAFF COMMENTS 28 ITEM 1C. CYBERSECURITY 28 ITEM 2.

PROPERTIES

PROPERTIES 29 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 29 ITEM 4. MINE SAFETY DISCLOSURE 29 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 30 ITEM 6. RESERVED 31 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 32 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 47 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 48 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 105 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 105 ITEM 9B. OTHER INFORMATION 106 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 106 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 107 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 108 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 108 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 108 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 108 PART IV ITEM 15. EXHIBITS, FINANCIAL STATEMENTS SCHEDULES 109 ITEM 16. 10-K SUMMARY 111

SIGNATURES

SIGNATURES 112 1 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Financial projections and expectations, including profitability of certain business units, plans to reduce costs and improve efficiencies including through restructuring programs, the effects of seasonality on certain business units, the consolidation of the communication industry and continued reliance on key customers for a significant portion of our revenue, future sources of revenue, competition and pricing pressures, the future impact of certain accounting pronouncements, and our estimation of the potential impact and materiality of litigation; Sufficiency of our sources of funding for working capital, capital expenditures, contractual obligations, acquisitions, stock repurchases, debt repayments and other matters; Our expectations regarding demand for our products and services, including industry trends and technological advancements that may drive such demand, the role we will play in those advancements and our ability to benefit from such advancements; Our plans for growth and innovation opportunities; Our plans for continued development, use and protection of our intellectual property; Our strategies for achieving our current business objectives, including r

BUSINESS

ITEM 1. BUSINESS GENERAL Overview Viavi Solutions Inc. (VIAVI, also referred to as the Company, we, our, and us) is a global provider of network test, monitoring, and assurance solutions for communications service providers (CSPs), hyperscalers, network equipment manufacturers (NEMs), original equipment manufacturers (OEMs), government and avionics. We help customers harness the power of instruments, automation, intelligence and virtualization. VIAVI is also a leader in light management technologies which are used in anti-counterfeiting, 3D sensing, consumer electronics, industrial, automotive, government and aerospace applications. To serve our markets, we operate the following business segments: Network Enablement (NE); Service Enablement (SE); and Optical Security and Performance Products (OSP). Corporate Strategy Our objective is to continue to be a leading provider in the markets and industries we serve. In support of our business segments, we are pursuing a corporate strategy that we believe will best position us for future opportunities as follows: Market leadership in physical and virtualized test and measurement instruments and assurance systems with the opportunity to grow market share; Market leadership in anti-counterfeiting pigments, 3D sensing optical filters and other light management technologies; Market leadership in 5G wireless, public safety radio and navigation/communication transponder test instruments as well as passive optical components for 3D sensing and other optical sensors; Increase benefit from the use of our net operating loss carryforwards (NOL) by improving our profitability organically and inorganically; and Greater flexibility in capital structure in support of our strategic plans. Our near-term strategy, and next transformation phase, will be more focused on growth, both organic and inorganic. We plan to leverage major secular growth trends in 5G wireless, fiber and 3D sensing to achieve higher levels of revenue and

View Full Filing

View this 10-K filing on SEC EDGAR