AVNW Aviat Networks, Inc. - Common Stock
NASDAQ · Communications · View on SEC EDGAR ↗ 10-K/10-Q Aug 27, 2026
$19.17
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$13.9252w low
$27.0252w high
Market Cap (MRQ)
$245M
P/E (TTM)
100.9
EPS (TTM)
$0.19
Revenue (TTM)
$440M
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52W Range
$14–$27
Analyst Rating
BUY
Price Target
$33
P/E
100.9
ROE
0.96%
Net Profit Margin
0.58%
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AVNW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$19.17
Market Cap (MRQ)
$245M
P/E (TTM)
100.9
EPS (TTM)
$0.19
Revenue (TTM)
$440M
ROE (TTM)
0.96%
Debt/Equity
0.4
52W Range
$14–$27
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| April 8, 2021 | 2-for-1 | Forward |
| June 14, 2016 | 1-for-12 | Reverse |
| Nov. 25, 1997 | 2-for-1 | Forward |
About Aviat Networks, Inc. - Common Stock Company overview from Wikipedia
Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers.
Headquartered in Austin, Texas since November 2019, Aviat Networks has operations in North and South America, Africa, Asia Pacific, Europe and the Middle East.
The company hired Peter Smith as its President and CEO on January 2, 2020.
History
The company was founded on January 29, 2007 with the merger of Harris Corporation’s Microwave Communications Division and Stratex Networks and incorporated under the name Harris Stratex Networks. The company renamed and rebranded itself to become Aviat Networks on January 28, 2010.
Stratex Networks was the new name for Digital Microwave Corporation (DMC) which was founded in 1984 in San Jose, California.
In February 2009, Harris Stratex acquired Telsima, developer and provider of WiMAX Forum Certified products for use in next-generation broadband wireless networks, for $12 million. In September 2008, Harris Stratex announced a partnership agreement with Telsima for end-to-end 4G network solutions.
In July 2022, Aviat completed the acquisition of Redline Communications, a provider of data infrastructure equipment.
Name and ticker symbol change
On January 28, 2010, at the opening of the Nasdaq trading session, Harris Stratex Networks announced they had renamed their company to become Aviat Networks. Along with the name change the company unveiled new corporate branding with a new company logo and relaunch of the corporate website. The company also changed their NASDAQ ticker symbol to AVNW. The new symbol began trading on the morning of January 29, 2010, retiring the old HSTX; this date also marked the company's third anniversary since incorporation.
Customer profile and recent contracts
Aviat Networks customers include fixed and mobile operators, public safety operators, state and federal governments, utilities, oil and gas companies, broadcast and transportation network operators worldwide.
Products and solutions
Aviat's portfolio of wireless products encompasses microwave and millimeter wave bands between 5 and 80 GHz. Architectures supported include split-mount (indoor/outdoor), all-outdoor and all-indoor radio designs to accommodate operators' specific needs.
== References ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorCommunications
industryCommunications
employees898
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$440M2017-06-30 → 2026-07-03
EPS$0.192017-06-30 → 2026-07-03
Free Cash Flow$6M2018-06-29 → 2026-07-03
Net margin0.58%2018-06-29 → 2026-07-03
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | AVNW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 100.95Y avg ≈87.4 | ≈87.4 | 54.0 | Overvalued | |
| P/S (TTM) | 0.65Y avg ≈0.8 | ≈0.8 | 1.2 | Undervalued | |
| P/B (MRQ) | 0.95Y avg ≈1.3 | ≈1.3 | 2.2 | Undervalued | |
| EV / EBITDA | 12.05Y avg ≈16.2 | ≈16.2 | · | · | |
| Price / FCF (TTM) | 40.35Y avg ≈48.3 | ≈48.3 | · | · | |
| Price / Cash Flow (TTM) | 18.15Y avg ≈-9.6 | ≈-9.6 | 21.0 | Fair value | |
| EV / Revenue | 0.65Y avg ≈0.8 | ≈0.8 | · | · | |
| EV / FCF | 44.35Y avg ≈5.0 | ≈5.0 | · | · | |
| Price / Tangible Book (MRQ) | 1.05Y avg ≈1.5 | ≈1.5 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | AVNW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 31.5%5Y avg ≈34.2% | ≈34.2% | 37.4% | Weak | |
| Operating Margin (TTM) | 4.4%5Y avg ≈5.7% | ≈5.7% | -1.8% | Top tier | |
| EBITDA Margin (TTM) | 5.1%5Y avg ≈6.9% | ≈6.9% | -1.1% | Top tier | |
| Pretax Margin (TTM) | 3.0%5Y avg ≈4.9% | ≈4.9% | -0.86% | Top tier | |
| Net Profit Margin (TTM) | 0.58%5Y avg ≈2.8% | ≈2.8% | -1.5% | Top tier | |
| ROA (TTM) | 0.41%5Y avg ≈2.6% | ≈2.6% | -2.4% | Top tier | |
| ROE (TTM) | 0.96%5Y avg ≈4.3% | ≈4.3% | -3.9% | Top tier | |
| ROIC | 1.0%5Y avg ≈4.4% | ≈4.4% | -2.9% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | AVNW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity | 0.45Y avg ≈0.3 | ≈0.3 | 0.4 | In line | |
| Current Ratio (MRQ) | 2.05Y avg ≈1.9 | ≈1.9 | 2.1 | In line | |
| Quick Ratio | 1.25Y avg ≈1.0 | ≈1.0 | 1.0 | Strong liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.35Y avg ≈0.3 | ≈0.3 | 0.2 | Above avg |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | AVNW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 1.2%5Y avg ≈10.0% | ≈10.0% | · | · | |
| Revenue CAGR 3Y | 8.5%5Y avg ≈12.1% | ≈12.1% | · | · | |
| Revenue CAGR 5Y | 9.8% | · | · | · | |
| EPS YoY | 90.0%5Y avg ≈-26.3% | ≈-26.3% | · | · | |
| Net Income YoY | 89.3%5Y avg ≈-25.0% | ≈-25.0% | · | · | |
| EPS CAGR 3Y | -39.6%5Y avg ≈23.5% | ≈23.5% | · | · | |
| EPS CAGR 5Y | -54.2% | · | · | · | |
| Net Income CAGR 3Y | -37.0%5Y avg ≈22.4% | ≈22.4% | · | · | |
| Net Income CAGR 5Y | -52.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | AVNW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.75Y avg ≈0.9 | ≈0.9 | 0.8 | Weak | |
| Receivables Turnover | 2.45Y avg ≈3.4 | ≈3.4 | 5.2 | Weak | |
| Revenue / Employee | ≈$489.6K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
37.2%
Next Report
Nov 04, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| Dec. 31, 2026 | Aug 27, 2026 | $0.64 | $0.56 | 15.0% |
| June 30, 2026 | $0.64 | $0.56 | 15.0% | |
| March 31, 2026 | $0.06 | $0.45 | -86.7% | |
| Dec. 31, 2025 | $0.54 | $0.51 | 5.9% | |
| Sept. 30, 2025 | $0.43 | $0.32 | 33.4% | |
| June 30, 2025 | $0.83 | $0.48 | 74.4% | |
| March 31, 2025 | $0.88 | $0.29 | 203.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $440M | $435M | $408M | $344M | $303M | $275M | $239M | $244M | $243M | $242M | $269M | $336M | |
| Cost of Revenue | $301M | $295M | $263M | $222M | $194M | $172M | $154M | $165M | $162M | $166M | $207M | $255M | |
| Gross Profit | $138M | $139M | $145M | $122M | $109M | $103M | $85M | $79M | $81M | $75M | $62M | $81M | |
| R&D Expense | $28M | $36M | $36M | $25M | $23M | $22M | $19M | $21M | $20M | $19M | $21M | $25M | |
| SG&A Expense | $89M | $89M | $85M | $70M | $58M | $56M | $58M | $56M | $58M | $57M | $66M | $76M | |
| Operating Expenses | $119M | $129M | $125M | $98M | $80M | $80M | $81M | $78M | $79M | $76M | $89M | $107M | |
| Operating Income | $19M | $11M | $19M | $25M | $29M | $22M | $3M | $1M | $1M | $-985.0K | $-27M | $-26M | |
| Interest Expense | · | · | · | · | · | $0 | $54.0K | $102.0K | $29.0K | $50.0K | $104.0K | $388.0K | |
| Interest Income | · | · | · | · | · | $230.0K | $385.0K | $267.0K | $198.0K | $261.0K | $252.0K | $360.0K | |
| Other Non-op | $2M | $-941.0K | $-158.0K | $-3M | $2M | $230.0K | $331.0K | $17.0K | $-220.0K | $169.0K | $-1M | $0 | |
| Pretax Income | $13M | $4M | $17M | $21M | $30M | $22M | $4M | $2M | $1M | $-605.0K | $-29M | $-26M | |
| Income Tax | $11M | $2M | $6M | $11M | $9M | $-88M | $3M | $-8M | $-1M | $16.0K | $2M | $-1M | |
| Net Income | $3M | $1M | $11M | $10M | $21M | $110M | $257.0K | $10M | $2M | $-823.0K | $-30M | $-25M | |
| EPS (Basic) | $0.20 | $0.11 | $0.88 | $0.90 | $1.89 | $9.98 | $0.02 | $0.91 | $0.35 | $-0.16 | $-5.71 | · | |
| EPS (Diluted) | $0.19 | $0.10 | $0.86 | $0.86 | $1.79 | $9.42 | $0.02 | $0.87 | $0.33 | $-0.16 | $-5.71 | · | |
| Shares (Basic) | 12,847,000 | 12,681,000 | 12,182,000 | 11,358,000 | 11,167,000 | 11,036,000 | 10,782,000 | 10,754,000 | 5,336,000 | 5,292,000 | 5,238,000 | · | |
| Shares (Diluted) | 13,027,000 | 12,826,000 | 12,456,000 | 11,855,000 | 11,820,000 | 11,688,000 | 10,936,000 | 11,236,000 | 5,647,000 | 5,292,000 | 5,238,000 | · | |
| EBITDA | $22M | $16M | $23M | $32M | $33M | $28M | $8M | $6M | $7M | · | $-21M | $-19M |
Balance Sheet
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $73M | $60M | $65M | $22M | $37M | $48M | $42M | $32M | $37M | $36M | $30M | $35M | |
| Short-term Investments | · | · | · | $2.0K | $11M | $0 | · | · | $0 | $264.0K | $222.0K | $0 | |
| Receivables | $192M | $180M | $158M | $101M | $73M | $48M | $45M | $52M | $43M | $46M | $63M | $84M | |
| Inventory | · | · | · | · | · | · | · | $9M | $21M | $22M | $27M | $33M | |
| Prepaid Expense | · | $14M | $14M | $13M | $11M | · | · | · | · | · | · | · | |
| Other Current Assets | $23M | $34M | $27M | $22M | $12M | $10M | $10M | $5M | $6M | $6M | $10M | $15M | |
| Current Assets | $439M | $464M | $405M | $236M | $206M | $170M | $140M | $126M | $123M | $125M | $140M | $191M | |
| PP&E (Net) | $19M | $17M | $9M | $9M | $9M | $12M | $17M | $17M | $17M | $16M | $18M | $24M | |
| PP&E (Gross) | $85M | $80M | $71M | $70M | $77M | $80M | $83M | $80M | $76M | $70M | $70M | $69M | |
| Accum. Depreciation | $66M | $62M | $62M | $61M | $68M | $68M | $66M | $62M | $59M | $54M | $52M | $45M | |
| Goodwill | $19M | $20M | $8M | $5M | $0 | · | · | · | · | · | · | · | |
| Intangibles | $24M | $27M | $14M | $9M | $0 | · | · | · | · | · | · | $0 | |
| Other Non-current Assets | $14M | $14M | $12M | $14M | $10M | $8M | $7M | $12M | $10M | $5M | $1M | $2M | |
| Total Assets | $599M | $633M | $535M | $363M | $324M | $298M | $180M | $169M | $156M | $153M | $166M | $225M | |
| Accounts Payable | $120M | $148M | $93M | $60M | $42M | $32M | $32M | $36M | $31M | $34M | $33M | $47M | |
| Accrued Liabilities | $34M | $39M | $42M | $24M | $26M | $28M | $27M | $23M | $26M | $22M | $23M | $27M | |
| Short-term Debt | · | · | · | · | $0 | $0 | $9M | $9M | $9M | $9M | $9M | $9M | |
| Current Liabilities | $223M | $282M | $219M | $130M | $104M | $96M | $94M | $82M | $86M | $86M | $100M | $123M | |
| Capital Leases | $2M | $2M | $3M | $2M | $2M | $3M | $2M | $0 | · | · | · | · | |
| Deferred Tax | $3M | $5M | $412.0K | $492.0K | $563.0K | $614.0K | $545.0K | $1M | $1M | $2M | $1M | $5M | |
| Other Non-current Liabilities | $0 | $430.0K | $394.0K | $314.0K | $273.0K | $356.0K | $401.0K | $820.0K | $1M | $1M | $1M | $2M | |
| Total Liabilities | $332M | $370M | $279M | $144M | $122M | $114M | $111M | $98M | $99M | $98M | $113M | $141M | |
| Long-term Debt | $97M | $88M | $48M | $0 | · | · | · | · | · | · | · | · | |
| Total Debt | $97M | $88M | $48M | · | · | $0 | $9M | $9M | $9M | · | $9M | $9M | |
| Common Stock | $129.0K | $127.0K | $126.0K | $115.0K | $112.0K | $112.0K | $108.0K | $54.0K | $54.0K | $53.0K | $53.0K | $52.0K | |
| Paid-in Capital | $872M | $866M | $860M | $830M | $823M | $819M | $814M | $815M | $816M | $814M | $812M | $810M | |
| Retained Earnings | $-575M | $-577M | $-579M | $-589M | $-599M | $-621M | $-731M | $-731M | $-746M | $-748M | $-747M | $-717M | |
| Treasury Stock | $10M | $7M | $6M | $6M | $6M | $787.0K | $0 | · | · | · | · | · | |
| AOCI | $-20M | $-19M | $-19M | $-16M | $-16M | $-14M | $-15M | $-13M | $-13M | $-12M | $-11M | $-9M | |
| Stockholders' Equity | $267M | $263M | $256M | $219M | $202M | $183M | $69M | $72M | $58M | $54M | $53M | $84M | |
| Liabilities + Equity | $599M | $633M | $535M | $363M | $324M | $298M | $180M | $169M | $156M | $153M | $166M | $225M | |
| Shares Outstanding | 12,800,000 | 12,700,000 | 12,622,000 | 11,518,000 | 11,161,000 | 11,154,000 | 10,801,000 | 10,719,390 | 5,351,155 | 5,317,766 | 5,261,041 | 5,208,200 |
Cash Flow
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $5M | $4M | $5M | $4M | $5M | $4M | $4M | $5M | $6M | $7M | $7M | |
| Stock-based Comp | $6M | $7M | $7M | $7M | $4M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Deferred Tax | $6M | $-343.0K | $4M | $9M | $8M | $-90M | $-172.0K | $-9M | $-3M | $75.0K | $-334.0K | $-5M | |
| Amort. of Intangibles | $3M | $3M | $1M | $704.0K | $0 | $0 | · | · | · | $0 | $0 | $380.0K | |
| Restructuring | $2M | $4M | $4M | $3M | $238.0K | $2M | $4M | $736.0K | $1M | $589.0K | $2M | $5M | |
| Other Non-cash | $-4M | $-8M | $5M | $-35M | $-34M | $-11M | $11M | $-4M | $2M | · | $22M | $11M | |
| Operating Cash Flow | $14M | $6M | $31M | $-2M | $3M | $17M | $17M | $3M | $8M | $9M | $356.0K | $-10M | |
| CapEx | $7M | $13M | $3M | $5M | $2M | $3M | $5M | $5M | $7M | $4M | $2M | $4M | |
| Investing Cash Flow | $-7M | $-29M | $-35M | $-12M | $-8M | $-3M | $-5M | $-5M | $-6M | $-4M | $-2M | $-4M | |
| Net Debt Issued | $-6M | $-51M | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | · | · | · | · | $0 | $0 | $2M | $2M | $8.0K | $0 | · | · | |
| Net Stock Activity | · | · | · | · | $0 | $-787.0K | $-2M | $-2M | · | · | · | · | |
| Financing Cash Flow | $6M | $19M | $49M | $-681.0K | $-5M | $-8M | $-3M | $-3M | $12.0K | $21.0K | $13.0K | $3M | |
| Net Change in Cash | $13M | $-3M | $42M | $-15M | $-11M | $6M | $10M | $-6M | $1M | $5M | $-4M | $-15M | |
| Taxes Paid | $4M | $2M | $808.0K | $2M | $1M | $-2M | $1M | $687.0K | $1M | $-313.0K | $2M | $2M | |
| Free Cash Flow | $6M | $-7M | $28M | $-7M | $997.0K | $14M | $13M | $-2M | $2M | · | $-2M | $-13M | |
| Levered FCF | · | · | · | · | · | $14M | $13M | $-3M | $2M | · | $-2M | $-13M |
Profitability
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.4% | 32.1% | 35.5% | 35.8% | 36.1% | 37.3% | 35.5% | 32.5% | 33.2% | · | 23.0% | 24.0% | |
| Operating Margin | 4.4% | 2.4% | 4.8% | 7.6% | 9.5% | 8.1% | 1.4% | 0.56% | 0.54% | · | -10.2% | -7.7% | |
| Net Margin | 0.58% | 0.31% | 2.6% | 3.3% | 7.0% | 40.1% | 0.11% | 4.0% | 0.76% | · | -11.1% | -7.3% | |
| Pretax Margin | 3.0% | 0.82% | 4.1% | 6.7% | 10.1% | 8.2% | 1.6% | 0.64% | 0.52% | · | -10.6% | -7.7% | |
| EBITDA Margin | 5.1% | 3.7% | 5.7% | 9.2% | 11.0% | 10.0% | 3.2% | 2.4% | 2.7% | · | -7.8% | -5.6% | |
| ROA | 0.41% | 0.23% | 2.4% | 3.4% | 6.8% | 46.1% | 0.15% | 6.0% | 1.2% | · | -15.3% | -10.2% | |
| ROE | 0.94% | 0.52% | 4.2% | 5.3% | 10.6% | 60.7% | 0.38% | 14.0% | 3.2% | · | -43.7% | -25.2% | |
| ROIC | 1.0% | 1.1% | 4.1% | 6.0% | 9.9% | 59.5% | 0.30% | 10.7% | 3.6% | · | -46.7% | -26.6% |
Liquidity & Solvency
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.0 | 1.6 | 1.9 | 1.8 | 2.0 | 1.8 | 1.5 | 1.5 | 1.4 | · | 1.4 | 1.5 | |
| Quick Ratio | 1.2 | 0.9 | 1.0 | 1.0 | 1.2 | 1.0 | 0.9 | 1.0 | 0.9 | · | 0.9 | 1.0 | |
| Debt / Equity | 0.4 | 0.3 | 0.2 | · | · | 0.0 | 0.1 | 0.1 | 0.2 | · | 0.2 | 0.1 | |
| LT Debt / Equity | 0.3 | 0.3 | 0.2 | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | 62.6 | 13.4 | 45.4 | · | -263.9 | -65.0 |
Efficiency
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.7 | 0.9 | 1.0 | 1.0 | 1.2 | 1.4 | 1.5 | 1.6 | · | 1.4 | 1.4 | |
| Inventory Turnover | · | · | · | · | · | · | · | 17.9 | 7.5 | · | 6.9 | 7.2 | |
| Receivables Turnover | 2.4 | 2.6 | 3.2 | 4.0 | 5.0 | 5.9 | 4.9 | 5.0 | 5.4 | · | 3.7 | 4.1 |
Per Share
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $20.89 | $20.72 | $20.31 | $19.14 | $18.08 | $16.44 | $12.72 | $13.34 | $10.75 | · | $10.10 | $1.34 | |
| Revenue / Share | $33.75 | $33.88 | $32.76 | $29.24 | $25.63 | $23.52 | $43.64 | $43.41 | $42.94 | · | · | · | |
| Cash Flow / Share | $1.04 | $0.45 | $2.45 | $-0.14 | $0.24 | $1.48 | $3.20 | $0.52 | $1.45 | · | · | · | |
| Cash / Share | $5.69 | $4.70 | $5.13 | $1.93 | $3.30 | $4.30 | $7.71 | $5.96 | $6.99 | · | $5.79 | $0.56 | |
| EPS (TTM) | $0.19 | $0.10 | $0.86 | $0.86 | $1.79 | $9.42 | $0.02 | $0.87 | $0.33 | $-0.16 | $-5.71 | · |
Growth Rates
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 1.2% | 6.5% | 18.5% | 13.7% | 10.2% | 15.2% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 8.5% | 12.8% | 14.1% | 13.0% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 9.8% | 12.7% | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 90.0% | -88.4% | 0.00% | -52.0% | -81.0% | 47000.0% | · | · | · | · | · | · | |
| EPS CAGR 3Y | -39.6% | -61.8% | -55.0% | 250.3% | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -54.2% | 38.0% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 89.3% | -87.5% | 5.8% | -51.9% | -80.8% | 42755.6% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -37.0% | -60.1% | -53.9% | 240.8% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -52.9% | 39.2% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $440M | $435M | $408M | $344M | $303M | $275M | $239M | $244M | $243M | $242M | $269M | $336M | |
| Net Income TTM | $3M | $1M | $11M | $10M | $21M | $110M | $257.0K | $10M | $2M | $-823.0K | $-30M | $-25M | |
| Market Cap | $271M | $304M | $361M | $384M | $280M | $356M | $50M | $37M | $44M | · | $21M | $495M | |
| Enterprise Value | $295M | $332M | $345M | · | · | $308M | $18M | $14M | $15M | · | $-525.3K | $469M | |
| P/E | 111.4 | 239.4 | 33.4 | 38.8 | 14.0 | 3.4 | 464.8 | 7.9 | 24.8 | -54.4 | -0.7 | · | |
| P/S | 0.6 | 0.7 | 0.9 | 1.1 | 0.9 | 1.3 | 0.2 | 0.2 | 0.2 | · | 0.1 | 1.5 | |
| P/B | 1.0 | 1.2 | 1.4 | 1.7 | 1.4 | 1.9 | 0.7 | 0.5 | 0.8 | · | 0.4 | 5.9 | |
| P / Tangible Book | 1.2 | 1.4 | 1.5 | 1.9 | 1.4 | 1.9 | 0.7 | · | · | · | · | · | |
| P / Cash Flow | 20.0 | 53.1 | 11.8 | -233.4 | 100.4 | 20.6 | 2.9 | 12.5 | 5.3 | · | -168.1 | -55.0 | |
| P / FCF | 44.5 | -41.9 | 13.0 | -55.0 | 280.9 | 24.6 | 3.9 | -15.9 | 26.6 | · | -12.5 | -39.0 | |
| EV / EBITDA | 13.1 | 20.9 | 14.8 | · | · | 11.1 | 2.3 | 2.4 | 2.4 | · | 0.0 | -25.0 | |
| EV / FCF | 48.5 | -45.8 | 12.4 | · | · | 21.3 | 1.4 | -6.0 | 9.3 | · | 0.3 | -37.0 | |
| EV / Revenue | 0.7 | 0.8 | 0.8 | · | · | 1.1 | 0.1 | 0.1 | 0.1 | · | -0.0 | 1.4 | |
| Earnings Yield | 0.90% | 0.42% | 3.0% | 2.6% | 7.1% | 29.5% | 0.22% | 12.7% | 4.0% | -1.8% | -141.9% | · |
Income Statement
| Metric | Trend | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $121M | $100M | $111M | $107M | $115M | $113M | $118M | $88M | $117M | $111M | $94M | $87M | $89M | $83M | $91M | $81M | |
| Cost of Revenue | $84M | $71M | $75M | $72M | $76M | $73M | $77M | $69M | $76M | $75M | $57M | $56M | $58M | $54M | $58M | $52M | |
| Gross Profit | $37M | $29M | $36M | $36M | $39M | $39M | $41M | $20M | $41M | $36M | $36M | $31M | $31M | $30M | $32M | $29M | |
| R&D Expense | $7M | $8M | $6M | $7M | $7M | $8M | $10M | $10M | $11M | $11M | $8M | $6M | $6M | $7M | $6M | $6M | |
| SG&A Expense | $22M | $20M | $22M | $23M | $21M | $22M | $21M | $25M | $23M | $20M | $23M | $19M | $20M | $16M | $17M | $18M | |
| Operating Expenses | $31M | $28M | $29M | $30M | $31M | $30M | $33M | $35M | $36M | $30M | $33M | $26M | $26M | $22M | $24M | $26M | |
| Operating Income | $6M | $939.0K | $7M | $5M | $9M | $9M | $8M | $-16M | $5M | $6M | $3M | $5M | $5M | $7M | $9M | $4M | |
| Other Non-op | $1M | $-1M | $3M | $-973.0K | $3M | $-3M | $-269.0K | $-710.0K | $70.0K | $-63.0K | $637.0K | $-802.0K | $-146.0K | $-306.0K | $460.0K | $-3M | |
| Pretax Income | $5M | $-2M | $8M | $3M | $10M | $5M | $6M | $-17M | $5M | $5M | $4M | $4M | $4M | $7M | $9M | $1M | |
| Income Tax | $6M | $-244.0K | $2M | $2M | $5M | $1M | $2M | $-6M | $3M | $806.0K | $2M | $432.0K | $2M | $2M | $3M | $4M | |
| Net Income | $-1M | $-2M | $6M | $162.0K | $5M | $4M | $4M | $-12M | $2M | $4M | $2M | $4M | $2M | $5M | $6M | $-3M | |
| EPS (Basic) | $-0.09 | $-0.16 | $0.44 | $0.01 | $0.42 | $0.28 | $0.35 | $-0.94 | $0.11 | $0.31 | $0.15 | $0.31 | $0.19 | $0.43 | $0.53 | $-0.25 | |
| EPS (Diluted) | $-0.10 | $-0.16 | $0.44 | $0.01 | $0.42 | $0.27 | $0.35 | $-0.94 | $0.11 | $0.30 | $0.15 | $0.30 | $0.19 | $0.41 | $0.51 | $-0.25 | |
| Shares (Basic) | · | 12,918,000 | 12,856,000 | 12,760,000 | · | 12,689,000 | 12,689,000 | 12,646,000 | · | 12,555,000 | 12,001,000 | 11,574,000 | · | 11,413,000 | 11,347,000 | 11,200,000 | |
| Shares (Diluted) | · | 12,918,000 | 13,005,000 | 12,976,000 | · | 12,838,000 | 12,784,000 | 12,646,000 | · | 12,779,000 | 12,229,000 | 11,943,000 | · | 11,884,000 | 11,805,000 | 11,200,000 | |
| EBITDA | · | $2M | $8M | $6M | · | $10M | $9M | $-14M | · | $6M | $6M | $7M | · | $9M | $10M | $5M |
Balance Sheet
| Metric | Trend | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $73M | $78M | $86M | $65M | $60M | $49M | $53M | $51M | $65M | $58M | $46M | $35M | · | $22M | $21M | $22M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | $988.0K | · | · | · | $0 | $2.0K | $1M | |
| Receivables | $192M | $188M | $203M | $180M | $180M | $178M | $167M | $169M | $158M | $138M | $150M | $94M | · | $88M | $91M | $72M | |
| Prepaid Expense | · | · | $14M | $13M | $14M | $15M | $15M | $15M | $14M | $13M | $14M | $17M | · | · | · | · | |
| Other Current Assets | $23M | $27M | $37M | $35M | $34M | $35M | $33M | $33M | $27M | $31M | $27M | $23M | · | $21M | $20M | $16M | |
| Current Assets | $439M | $450M | $494M | $475M | $464M | $457M | $423M | $427M | $405M | $362M | $367M | $244M | · | $237M | $224M | $197M | |
| PP&E (Net) | $19M | $19M | $19M | $19M | $17M | $16M | $14M | $12M | $9M | $6M | $9M | $9M | · | $11M | $11M | $12M | |
| PP&E (Gross) | $85M | $84M | $83M | $82M | $80M | $81M | $78M | $75M | $71M | $67M | $71M | $70M | · | $70M | $71M | $70M | |
| Accum. Depreciation | $66M | $65M | $64M | $63M | $62M | $65M | $64M | $63M | $62M | $61M | $62M | $61M | · | $60M | $60M | $58M | |
| Goodwill | $19M | $19M | $20M | $19M | $20M | $19M | $18M | $15M | $8M | $8M | $6M | $5M | · | $5M | $5M | $5M | |
| Intangibles | $24M | $24M | $25M | $26M | $27M | $27M | $28M | $29M | $14M | $14M | $16M | $9M | · | $7M | $7M | $7M | |
| Other Non-current Assets | $14M | $14M | $14M | $14M | $14M | $14M | $13M | $13M | $12M | $12M | $13M | $13M | · | $14M | $10M | $10M | |
| Total Assets | $599M | $617M | $659M | $643M | $633M | $628M | $594M | $591M | $535M | $490M | $500M | $370M | · | $365M | $349M | $327M | |
| Accounts Payable | $120M | $112M | $145M | $142M | $148M | $138M | $124M | $105M | $93M | $65M | $67M | $62M | · | $62M | $60M | $48M | |
| Accrued Liabilities | $34M | $40M | $32M | $36M | $39M | $41M | $38M | $39M | $42M | $39M | $34M | $21M | · | $23M | $24M | $25M | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | $6M | · | · | |
| Current Liabilities | $223M | $226M | $267M | $258M | $282M | $282M | $252M | $248M | $219M | $171M | $184M | $129M | · | $133M | $124M | $111M | |
| Capital Leases | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $2M | $3M | $2M | · | $2M | $2M | $2M | |
| Deferred Tax | $3M | $4M | $5M | $5M | $5M | $7M | $7M | $412.0K | $412.0K | $473.0K | $492.0K | $492.0K | · | $563.0K | $563.0K | $563.0K | |
| Other Non-current Liabilities | $0 | $328.0K | $450.0K | $440.0K | $430.0K | $427.0K | $417.0K | $407.0K | $394.0K | $405.0K | $391.0K | $317.0K | · | $279.0K | $249.0K | $246.0K | |
| Total Liabilities | $332M | $345M | $388M | $380M | $370M | $372M | $345M | $344M | $279M | $232M | $246M | $144M | · | $149M | $141M | $127M | |
| Long-term Debt | $97M | $104M | $105M | $106M | $88M | $74M | $75M | $83M | $48M | $49M | $50M | · | · | · | · | · | |
| Total Debt | · | $104M | $105M | $106M | · | $74M | $75M | $83M | · | $49M | $50M | · | · | $6M | · | · | |
| Common Stock | $129.0K | $129.0K | $129.0K | $128.0K | $127.0K | $127.0K | $127.0K | $127.0K | $126.0K | $126.0K | $125.0K | $117.0K | · | $114.0K | $114.0K | $113.0K | |
| Paid-in Capital | $872M | $870M | $868M | $867M | $866M | $865M | $863M | $861M | $860M | $858M | $857M | $832M | · | $828M | $827M | $825M | |
| Retained Earnings | $-575M | $-573M | $-571M | $-577M | $-577M | $-582M | $-586M | $-590M | $-579M | $-578M | $-581M | $-584M | · | $-591M | $-596M | $-602M | |
| Treasury Stock | $10M | $8M | $7M | $7M | $7M | $7M | $7M | $6M | $6M | $6M | $6M | $6M | · | $6M | $6M | $6M | |
| AOCI | $-20M | $-18M | $-19M | $-20M | $-19M | $-19M | $-21M | $-17M | $-19M | $-16M | $-15M | $-16M | · | $-16M | $-16M | $-17M | |
| Stockholders' Equity | $267M | $272M | $272M | $264M | $263M | $256M | $250M | $247M | $256M | $259M | $254M | $226M | $219M | $215M | $208M | $199M | |
| Liabilities + Equity | $599M | $617M | $659M | $643M | $633M | $628M | $594M | $591M | $535M | $490M | $500M | $370M | · | $365M | $349M | $327M | |
| Shares Outstanding | 12,800,000 | 12,900,000 | 12,900,000 | 12,800,000 | 12,700,000 | 12,700,000 | 12,700,000 | 12,700,000 | 12,622,000 | 12,600,000 | 12,500,000 | 11,700,000 | 11,518,000 | 11,436,542 | 11,377,066 | 11,312,974 |
Cash Flow
| Metric | Trend | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1M | $700.0K | $900.0K | $463.0K | $1M | $1M | $2M | $1M | $914.0K | $1M | $905.0K | $1M | $1M | $1M | $1M | $1M | |
| Stock-based Comp | $2M | $2M | $1M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Deferred Tax | · | · | · | $-270.0K | $3M | $2M | $1M | $-7M | $2M | $1M | $-142.0K | $-170.0K | $4M | $-89.0K | $2M | $3M | |
| Amort. of Intangibles | $743.0K | $700.0K | $700.0K | $719.0K | $694.0K | $700.0K | $800.0K | $513.0K | $426.0K | $200.0K | $200.0K | $176.0K | $332.0K | $124.0K | $124.0K | $124.0K | |
| Restructuring | $2M | $323.0K | $21.0K | $0 | $2M | $177.0K | $1M | $0 | $2M | $-417.0K | $2M | $644.0K | $157.0K | $-23.0K | $928.0K | $2M | |
| Other Non-cash | · | · | · | $-14M | · | · | · | $-11M | · | · | · | $7M | · | · | · | $-10M | |
| Operating Cash Flow | $3M | $-2M | $24M | $-12M | $11M | $2M | $21M | $-27M | $8M | $15M | $-7M | $14M | $7M | $-646.0K | $-2M | $-6M | |
| CapEx | $615.0K | $4M | $1M | $2M | $2M | $3M | $2M | $5M | $809.0K | $497.0K | $652.0K | $717.0K | $280.0K | $4M | $198.0K | $474.0K | |
| Investing Cash Flow | $497.0K | $-5M | $-1M | $-2M | $-2M | $-3M | $-2M | $-21M | $-270.0K | $-1M | $-33M | $-717.0K | $-286.0K | $-4M | $1M | $-8M | |
| Net Debt Issued | · | · | · | $-938.0K | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | · | $500.0K | · | · | · | $99.0K | · | · | · | $0 | · | · | · | $0 | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Financing Cash Flow | $-9M | $-1M | $-1M | $19M | $1M | $-1M | $-16M | $34M | $-578.0K | $-1M | $50M | $180.0K | $-7M | $6M | $368.0K | $-310.0K | |
| Net Change in Cash | $-6M | $-8M | $22M | $5M | $10M | $-2M | $1M | $-13M | $6M | $12M | $10M | $13M | $-145.0K | $1M | $-243.0K | $-15M | |
| Free Cash Flow | · | · | · | $-13M | · | · | · | $-33M | · | · | · | $13M | · | · | · | $-7M |
Profitability
| Metric | Trend | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | 29.3% | 32.4% | 33.2% | · | 34.9% | 34.6% | 22.4% | · | 32.7% | 38.8% | 36.4% | · | 35.7% | 35.5% | 36.2% | |
| Operating Margin | · | 0.94% | 6.5% | 4.8% | · | 8.2% | 6.7% | -17.6% | · | 4.5% | 5.2% | 6.3% | · | 9.0% | 9.6% | 4.8% | |
| Net Margin | · | -2.1% | 5.1% | 0.15% | · | 3.1% | 3.8% | -13.4% | · | 3.1% | 3.0% | 4.6% | · | 5.9% | 6.7% | -3.4% | |
| Pretax Margin | · | -2.3% | 7.3% | 2.3% | · | 4.2% | 5.2% | -19.7% | · | 3.6% | 5.5% | 5.3% | · | 8.5% | 10.1% | 1.4% | |
| EBITDA Margin | · | 1.6% | 7.3% | 5.3% | · | 9.3% | 8.0% | -16.1% | · | 5.4% | 6.2% | 7.7% | · | 10.7% | 11.1% | 6.5% | |
| ROA | · | -0.33% | 0.91% | 0.03% | · | 0.63% | 0.82% | -2.5% | · | 0.80% | 0.68% | 1.1% | · | 1.4% | 1.8% | -0.86% | |
| ROE | · | -0.78% | 2.2% | 0.06% | · | 1.4% | 1.8% | -5.0% | · | 1.4% | 1.2% | 1.9% | · | 2.4% | 3.0% | -1.4% | |
| ROIC | · | 0.22% | 1.4% | 0.09% | · | 2.1% | 1.8% | -3.2% | · | 1.4% | 0.91% | 2.1% | · | 2.3% | 2.8% | -4.8% |
Liquidity & Solvency
| Metric | Trend | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 2.0 | 1.8 | 1.8 | · | 1.6 | 1.7 | 1.7 | · | 2.1 | 2.0 | 1.9 | · | 1.8 | 1.8 | 1.8 | |
| Quick Ratio | · | 1.2 | 1.1 | 0.9 | · | 0.8 | 0.9 | 0.9 | · | 1.2 | 1.1 | 1.0 | · | 0.8 | 0.9 | 0.9 | |
| Debt / Equity | · | 0.4 | 0.4 | 0.4 | · | 0.3 | 0.3 | 0.3 | · | 0.2 | 0.2 | · | · | 0.0 | · | · | |
| LT Debt / Equity | · | 0.4 | 0.4 | 0.4 | · | 0.3 | 0.3 | 0.3 | · | 0.2 | 0.2 | · | · | · | · | · |
Efficiency
| Metric | Trend | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.2 | 0.3 | · | 0.2 | 0.3 | 0.3 | |
| Receivables Turnover | · | 0.5 | 0.6 | 0.6 | · | 0.7 | 0.7 | 0.7 | · | 1.0 | 0.8 | 1.0 | · | 1.0 | 1.1 | 1.2 |
Per Share
| Metric | Trend | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $21.07 | $21.06 | $20.60 | · | $20.17 | $19.65 | $19.46 | · | $20.52 | $20.31 | $19.33 | · | $18.83 | $18.33 | $17.63 | |
| Revenue / Share | · | $7.74 | $8.57 | $8.27 | · | $8.77 | $9.25 | $6.99 | · | $8.73 | $7.77 | $7.33 | · | $7.02 | $7.68 | $7.25 | |
| Cash Flow / Share | · | · | · | $-0.90 | · | · | · | $-2.15 | · | · | · | $1.17 | · | · | · | $-0.56 | |
| Cash / Share | · | $6.06 | $6.70 | $5.06 | · | $3.89 | $4.14 | $4.02 | · | $4.62 | $3.67 | $3.03 | · | $1.96 | $1.88 | $1.91 | |
| EPS (TTM) | · | $0.71 | $1.14 | $1.05 | · | $-0.21 | $-0.18 | $-0.38 | · | $0.94 | $1.05 | $1.41 | · | $1.07 | $1.17 | · |
Valuation (TTM)
| Metric | Trend | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | · | $434M | $447M | $453M | · | $436M | $434M | $410M | · | $380M | $353M | $350M | · | $333M | $324M | · | |
| Net Income TTM | · | $9M | $15M | $13M | · | $-2M | $-2M | $-5M | · | $11M | $12M | $16M | · | $13M | $14M | · | |
| Market Cap | · | $296M | $276M | $289M | · | $240M | $226M | $287M | · | $483M | $408M | $365M | · | $394M | $355M | $310M | |
| Enterprise Value | · | $322M | $295M | $330M | · | $264M | $249M | $319M | · | $473M | $412M | · | · | $378M | · | · | |
| P/E | · | 32.3 | 18.8 | 21.5 | · | -89.9 | -99.0 | -59.4 | · | 40.8 | 31.1 | 22.1 | · | 32.2 | 26.7 | · | |
| P/S | · | 0.7 | 0.6 | 0.6 | · | 0.6 | 0.5 | 0.7 | · | 1.3 | 1.2 | 1.0 | · | 1.2 | 1.1 | · | |
| P/B | · | 1.1 | 1.0 | 1.1 | · | 0.9 | 0.9 | 1.2 | · | 1.9 | 1.6 | 1.6 | · | 1.8 | 1.7 | 1.6 | |
| P / Tangible Book | · | 1.3 | 1.2 | 1.3 | · | 1.1 | 1.1 | 1.4 | · | 2.0 | 1.8 | 1.7 | · | 1.9 | 1.8 | 1.7 | |
| P / Cash Flow | · | · | · | -24.6 | · | · | · | -10.6 | · | · | · | 26.1 | · | · | · | -49.1 | |
| EV / Revenue | · | 0.7 | 0.7 | 0.7 | · | 0.6 | 0.6 | 0.8 | · | 1.2 | 1.2 | · | · | 1.1 | · | · | |
| Earnings Yield | · | 3.1% | 5.3% | 4.7% | · | -1.1% | -1.0% | -1.7% | · | 2.5% | 3.2% | 4.5% | · | 3.1% | 3.8% | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2026-07-03 | 2025-06-27 | 2024-06-28 | 2023-06-30 | 2022-07-01 |
|---|---|---|---|---|---|
| Revenue | $440M | $435M | $408M | $344M | $303M |
| Gross Margin % | 31.4% | 32.1% | 35.5% | 35.8% | 36.1% |
| Operating Margin % | 4.4% | 2.4% | 4.8% | 7.6% | 9.5% |
| Net Income | $3M | $1M | $11M | $10M | $21M |
| Diluted EPS | $0.19 | $0.10 | $0.86 | $0.86 | $1.79 |
| Metric | 2026-07-03 | 2025-06-27 | 2024-06-28 | 2023-06-30 | 2022-07-01 |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.3 | 0.2 | · | · |
| Current Ratio | 2.0 | 1.6 | 1.9 | 1.8 | 2.0 |
| Quick Ratio | 1.2 | 0.9 | 1.0 | 1.0 | 1.2 |
| Metric | 2026-07-03 | 2025-06-27 | 2024-06-28 | 2023-06-30 | 2022-07-01 |
|---|---|---|---|---|---|
| Free Cash Flow | $6M | $-7M | $28M | $-7M | $997.0K |
Institutional owners (13F) 137 filers · $221.6M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
137
Value held
$221.6M
New positions
19
Exited positions
26
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 19 (-4 vs prior Q) | 26 (+14 vs prior Q) | 49 (+3 vs prior Q) | 37 (-1 vs prior Q) | +225K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $18,737,910 | 844,050 | 8.45% | Shares |
| VANGUARD GROUP INC | $14,968,480 | 700,116 | 6.75% | Shares |
| ROYCE & ASSOCIATES LP | $14,548,215 | 655,325 | 6.56% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $11,682,461 | 526,237 | 5.27% | Shares |
| FIRST WILSHIRE SECURITIES MANAGEMENT INC | $11,617,637 | 523,317 | 5.24% | Shares |
| Pacific Ridge Capital Partners, LLC | $9,793,330 | 441,141 | 4.42% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $9,554,702 | 430,392 | 4.31% | Shares |
| MARSHALL WACE, LLP | $9,531,547 | 429,349 | 4.30% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $8,661,088 | 390,211 | 3.91% | Shares |
| First Eagle Investment Management, LLC | $8,002,123 | 360,456 | 3.61% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,917,335 | 311,516 | 3.12% | Shares |
| Western Standard LLC | $6,682,822 | 301,028 | 3.02% | Shares |
| STATE STREET CORP | $5,725,735 | 257,916 | 2.58% | Shares |
| D. E. Shaw & Co., Inc. | $5,425,680 | 244,400 | 2.45% | Shares |
| FRANKLIN RESOURCES INC | $4,800,040 | 216,218 | 2.17% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $4,457,494 | 200,788 | 2.01% | Shares |
| MILLENNIUM MANAGEMENT LLC | $4,380,393 | 197,315 | 1.98% | Shares |
| SEI INVESTMENTS CO | $4,301,539 | 193,763 | 1.94% | Shares |
| CITADEL ADVISORS LLC | $3,221,753 | 145,124 | 1.45% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $2,995,180 | 134,918 | 1.35% | Shares |
| WEBER CAPITAL MANAGEMENT LLC /ADV | $2,830,499 | 141,172 | 1.28% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $2,726,227 | 122,803 | 1.23% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,420,644 | 109,038 | 1.09% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $2,404,993 | 108,333 | 1.09% | Shares |
| NORTHERN TRUST CORP | $2,231,122 | 100,501 | 1.01% | Shares |
| Hodges Capital Management Inc. | $1,787,100 | 80,500 | 0.81% | Shares |
| CM Management, LLC | $1,776,000 | 80,000 | 0.80% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,754,089 | 79,013 | 0.79% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,623,619 | 73,136 | 0.73% | Shares |
| Fisher Asset Management, LLC | $1,559,284 | 70,238 | 0.70% | Shares |
| JANE STREET GROUP, LLC | $1,436,362 | 64,701 | 0.65% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $1,419,890 | 63,959 | 0.64% | Shares |
| Vanguard Global Advisers, LLC | $1,352,735 | 60,934 | 0.61% | Shares |
| Trexquant Investment LP | $1,317,459 | 59,345 | 0.59% | Shares |
| CITADEL ADVISORS LLC | $1,269,840 | 57,200 | 0.57% | Call option |
| AMERICAN CENTURY COMPANIES INC | $1,251,370 | 56,368 | 0.56% | Shares |
| UBS Group AG | $1,181,662 | 53,228 | 0.53% | Shares |
| HERALD INVESTMENT MANAGEMENT Ltd | $1,176,600 | 53,000 | 0.53% | Shares |
| Russell Investments Group, Ltd. | $1,145,517 | 51,600 | 0.52% | Shares |
| MORGAN STANLEY | $1,125,041 | 50,677 | 0.51% | Shares |
| WESTERLY CAPITAL MANAGEMENT, LLC | $1,110,000 | 50,000 | 0.50% | Shares |
| GOLDMAN SACHS GROUP INC | $1,098,766 | 49,494 | 0.50% | Shares |
| Squarepoint Ops LLC | $1,094,793 | 49,315 | 0.49% | Shares |
| Bank of New York Mellon Corp | $1,076,356 | 48,485 | 0.49% | Shares |
| AMERIPRISE FINANCIAL INC | $995,559 | 44,845 | 0.45% | Shares |
| Nuveen, LLC | $924,675 | 41,652 | 0.42% | Shares |
| Catalyst Funds Management Pty Ltd | $865,800 | 39,000 | 0.39% | Shares |
| JANE STREET GROUP, LLC | $823,620 | 37,100 | 0.37% | Call option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $787,123 | 35,456 | 0.36% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $763,236 | 34,380 | 0.34% | Shares |
Activists & 5%+ owners 8 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| NEC Corporation | Dec. 6, 2023 | · | Initial filing | · | SEC |
| Aviat Networks, Inc., Weinstock Legacy, LLC, Craig Weinstock ×13 filings | Aug. 23, 2022 | · | Initial filing | · | SEC |
| STEEL EXCEL INC., STEEL PARTNERS HOLDINGS L.P., SPH GROUP LLC, SPH GROUP HOLDINGS LLC, STEEL PARTNERS HOLDINGS GP INC., KENNETH KONG ×12 filings | Feb. 3, 2021 | · | Initial filing | · | SEC |
| Julian Singer, JDS1, LLC, David S. Oros ×2 filings | Sept. 7, 2018 | · | Initial filing | Passive investment | SEC |
| Privet Fund LP, Privet Fund Management LLC, Ryan Levenson ×2 filings | April 18, 2014 | · | Initial filing | · | SEC |
| RAMIUS VALUE AND OPPORTUNITY MASTER FUND LTD, RAMIUS OPTIMUM INVESTMENTS LLC, COWEN OVERSEAS INVESTMENT LP, RAMIUS ADVISORS, LLC, RAMIUS VALUE AND OPPORTUNITY ADVISORS LLC, RAMIUS LLC, COWEN GROUP, INC., RCG HOLDINGS LLC, C4S & CO., L.L.C., PETER A. COHEN, MORGAN B. STARK, JEFFREY M. SOLOMON, THOMAS W. STRAUSS ×6 filings | Feb. 7, 2011 | · | Initial filing | · | SEC |
| Harris Corporation ×3 filings | May 28, 2009 | · | Initial filing | · | SEC |
| Kopp Investment Advisors, LLC 2), Kopp Holding Company, LLC 2), Kopp Holding Company 2), LeRoy C. Kopp 2) ×2 filings | Aug. 28, 2007 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 56 insiders · 16 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Pete A Smith | President and CEO | Oct. 9, 2026 F | 411,437 | 0 | 3 | $-855,868 |
| Harald J Braun | President and CEO | Nov. 12, 2009 A | 283,469 | 0 | 0 | $0 |
| Andrew C Schmidt | SVP, Chief Financial Officer | Sept. 3, 2026 A | 25,121 | 0 | 0 | $0 |
| Andrew Michael Fredrickson | Interim CFO | Oct. 10, 2025 F | 9,549 | 0 | 0 | $0 |
| Michael Connaway | SVP & Chief Financial Officer | June 5, 2025 F | 55,255 | 0 | 0 | $0 |
| David M Gray | Sr VP and CFO | Oct. 18, 2023 F | 12,135 | 0 | 0 | $0 |
| Thomas L Cronan III | SVP & Chief Financial Officer | July 14, 2011 D | 104,727 | 0 | 0 | $0 |
| Sarah A Dudash | Chief Financial Officer | Nov. 5, 2008 A | 54,074 | 0 | 0 | $0 |
| Erin Boase | VP Legal Affairs | Oct. 9, 2026 F | 33,728 | 0 | 1 | $-26,522 |
| Gary Croke | SVP of Product and Innovation | Oct. 9, 2026 F | 47,671 | 0 | 2 | $-193,532 |
| Khashayar Pakbaz | SVP & Chief Operations Officer | Oct. 8, 2026 A | 21,125 | 0 | 0 | $0 |
| Bryan Tucker | Sr. VP, Americas Sales and Ser | Sept. 7, 2023 S | 37,678 | 0 | 0 | $0 |
| Russell Mincey | VP, Corp. Controller and PAO | Nov. 15, 2010 S | 42,162 | 0 | 0 | $0 |
| Marilyn Ann Gigoux | SVP, Chief Human Resources Off | Jan. 25, 2010 A | 9,698 | 0 | 0 | $0 |
| Steve Gilmore | VP, Human Resources | Nov. 12, 2009 A | 37,745 | 0 | 0 | $0 |
| Juan Otero | General Counsel & Secretary | Nov. 5, 2008 A | 28,185 | 0 | 0 | $0 |
| Scott K Halliday | Director | Nov. 7, 2025 A | 8,630 | 0 | 0 | $0 |
| Laxmi Akkaraju | Director | Nov. 7, 2025 A | 18,765 | 0 | 0 | $0 |
| Bryan Ingram | Director | Nov. 7, 2025 A | 25,162 | 0 | 0 | $0 |
| Asako Aoyama | Director | Nov. 8, 2024 A | 8,339 | 0 | 0 | $0 |
| Michele Klein | Director | Nov. 8, 2024 P | 22,561 | 0 | 0 | $0 |
| Eric C Evans | Director | Jan. 26, 2011 A | 36,496 | 0 | 0 | $0 |
| HARRIS CORP /DE/ | Director | May 13, 2009 C | 0 | 0 | 0 | $0 |
| Bruce M. Taten | · | Nov. 11, 2025 S | 20,391 | 0 | 1 | $-76,439 |
| John Mutch | · | Nov. 7, 2025 A | 95,618 | 0 | 0 | $0 |
| James C Stoffel | · | Nov. 10, 2022 A | 83,855 | 0 | 0 | $0 |
| Somesh Singh | · | Nov. 29, 2021 P | 5,219 | 0 | 0 | $0 |
| Eric Chang | · | Sept. 7, 2021 F | 43,686 | 0 | 0 | $0 |
| Dahlia Loeb | · | Nov. 11, 2020 A | 5,499 | 0 | 0 | $0 |
| Kenneth Kong | · | Nov. 11, 2020 A | 20,457 | 0 | 0 | $0 |
| John J Quicke | · | Nov. 11, 2020 A | 43,562 | 0 | 0 | $0 |
| Shaun Mcfall | · | July 3, 2020 D | 30,728 | 0 | 0 | $0 |
| Walter Stanley Gallagher Jr | · | April 3, 2020 D | 9,850 | 0 | 0 | $0 |
| Michael Pangia | · | Sept. 18, 2019 F | 76,965 | 0 | 0 | $0 |
| Heinz Stumpe | · | June 28, 2019 F | 12,277 | 0 | 0 | $0 |
| Meena L. Elliott | · | Oct. 5, 2018 F | 24,908 | 0 | 0 | $0 |
| Ralph Marimon | · | July 10, 2018 D | 25,251 | 0 | 0 | $0 |
| Wayne Barr JR | · | Nov. 15, 2017 A | 8,229 | 0 | 0 | $0 |
| Robert G. Pearse | · | Jan. 11, 2016 A | 187,271 | 0 | 0 | $0 |
| James R Henderson | · | Jan. 11, 2016 A | 177,271 | 0 | 0 | $0 |
| William A Hasler | · | Jan. 11, 2016 A | 222,563 | 0 | 0 | $0 |
| Michael Shahbazian | · | May 14, 2015 S | 65,151 | 0 | 0 | $0 |
| Charles Kissner | · | Feb. 10, 2015 A | 258,613 | 0 | 0 | $0 |
| John Madigan | · | Feb. 2, 2015 A | 101,353 | 0 | 0 | $0 |
| Raghavendra Rau | · | Jan. 24, 2014 A | 45,523 | 0 | 0 | $0 |
| Mohsen Sohi | · | Jan. 24, 2014 A | 71,840 | 0 | 0 | $0 |
| Thompson Edward | · | Jan. 24, 2014 A | 74,191 | 0 | 0 | $0 |
| Clifford H Higgerson | · | Jan. 24, 2014 A | 71,691 | 0 | 0 | $0 |
| Edward J Hayes Jr | · | Nov. 1, 2013 S | 233,259 | 0 | 0 | $0 |
| Paul Kennard | · | Nov. 29, 2012 A | 176,617 | 0 | 0 | $0 |
| Robert Kamenski | · | May 17, 2007 S | 12,600 | 0 | 0 | $0 |
| Larry Brittain | · | April 10, 2007 M | 12,070 | 0 | 0 | $0 |
| Carl Thomsen | · | March 14, 2007 M | 14,834 | 0 | 0 | $0 |
| Guy M Campbell | · | Feb. 28, 2007 A | 23,100 | 0 | 0 | $0 |
| John Brandt | · | Feb. 26, 2007 M | 19 | 0 | 0 | $0 |
| Thomas H Waechter | · | Feb. 5, 2007 S | 13,541 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 25 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.53% | 5,795 SH | Oct. 23, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 24,380 NS | July 31, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.08% | 29,476 SH | Aug. 19, 2026 | Daily |
| IWC · iShares Trust | 0.06% | 40,254 SH | Sept. 11, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 10,344 SH | Aug. 19, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.02% | 74,441 NS | July 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.01% | 80 NS | July 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 18,095 SH | Oct. 23, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 68,329 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 5,653 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 294,827 SH | Sept. 11, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 29,219 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 920 NS | July 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.00% | 11,126 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 19,640 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 3,640 SH | Sept. 11, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 2,617 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 5,981 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 500 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 77 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 135,852 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 379,092 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 889 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 110,815 SH | Sept. 11, 2026 | Daily |
| SVAL · iShares Trust | · | 26,471 SH | Sept. 3, 2026 | Daily |
AVNW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 14 analysts
BUY
Median target
$32.00
+66.9%
2 14.3%
Strong Buy
11 78.6%
Buy
1 7.1%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
8 analysts · 2026-10-22Mean target $32.75 +70.8%
← Below all targets
Current price $19.17
Low$25.00
Mean$32.75
High$42.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AVNW | $271M | 111.4 | 1.2% | 0.58% | 0.94% | 31.4% |
| NTGR | $685M | -38.9 | 3.8% | -2.6% | -3.5% | 38.0% |
| ADTN | $695M | -16.7 | 17.5% | -4.2% | -28.9% | 38.3% |
| CLFD | $476M | -59.3 | 19.6% | -5.4% | -3.1% | 33.7% |
| LTRX | $274M | -58.8 | -1.7% | -3.5% | -4.3% | 43.8% |
| RBBN | · | -4.4 | 1.3% | · | · | · |
| KVHI | $136M | -18.3 | -2.5% | -6.7% | -5.5% | · |
| OCC | $65M | · | 9.6% | -2.0% | -8.2% | 30.9% |
| INSG | $158M | -57.1 | -13.1% | 0.50% | -11.5% | 42.7% |
| GNSS | $111M | -6.1 | 69.8% | -44.4% | -354.3% | 41.6% |
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Source: SEC 10-K filed Aug 27, 2026