AVNW — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-08-27

• •Middle Mile. Aviat transport equipment is used to support backhaul connectivity to rural broadband networks serving remote communities as an alternative to costly fiber. There are significant investments, including the $42.45 billion American federal grant program managed by the National Telecommun…

• •Many utility companies around the world are actively investing in “Smart Grid” solutions and energy demand management, which drive the need for network modernization and increased capacity of networks. Utilities are also preparing for the overwhelming demand presented by expanding data centers (ass…

• Our product development teams totaled 223 employees as of July 3, 2026, and were located primarily in Slovenia and New Zealand. During fiscal year 2026, we increased our research and development capabilities through the establishment and expansion of a new development center in Chennai, India.

• Further, changes in patent laws or their interpretation in the United States and other countries, including through legislative action by Congress or foreign legislative bodies, judicial decisions such as recent United States Supreme Court rulings narrowing the scope of patent protection or weakenin…

• Electronic products are subject to environmental regulation in a number of jurisdictions. Equipment produced by us is subject to domestic and international requirements requiring end-of-life management and/or restricting materials in products delivered to customers. For example, the European Union’s…

Text removed vs the prior filing · source: 10-K · 2025-09-10

• •Middle Mile. Aviat transport equipment is used to deliver broadband connectivity to rural and suburban communities as an alternative to costly fiber. There are significant investments being made to improve rural household and enterprise connectivity and many of these investments target middle mile …

• •Many utility companies around the world are actively investing in “Smart Grid” solutions and energy demand management, which drive the need for network modernization and increased capacity of networks.

• Our product development teams totaled 225 employees as of June 27, 2025, and were located primarily Slovenia and New Zealand.

• Further, changes in either the patent laws or in the interpretations of patent laws in the United States and other countries may diminish the value of our intellectual property and may increase the uncertainties and costs surrounding the prosecution of patent applications and the enforcement or defe…

• Electronic products are subject to environmental regulation in a number of jurisdictions. Equipment produced by us is subject to domestic and international requirements requiring end-of-life management and/or restricting materials in products delivered to customers. We believe that we have substanti…

Text added vs the prior filing · source: 10-K · 2026-08-27

• •Our development and use of AI and ML technologies, and their use by our competitors, customers and threat actors, present operational, competitive, legal and reputational risks.

• •Geopolitical tensions, armed conflicts, changes in trade policies, and disruptions to global supply chains may adversely affect our business, financial condition, and results of operations.

• •Negative reports could harm our reputation, cause us to incur significant costs or impact our operations, and could materially adversely affect our business and stock price.

• The wireless telecommunications industry is characterized by rapid technological change, changes in customer requirements, evolving industry standards and regulatory requirements. We continually invest in research and development to sustain or enhance our existing products, but the introduction of n…

• Our development and use of AI and ML technologies, and their use by our competitors, customers, and threat actors, present operational, competitive, legal and reputational risks.

Text removed vs the prior filing · source: 10-K · 2025-09-10

• •Continued tension in global trade relations, including U.S.-China trade relations, may adversely impact our supply chain operations and business.

• The optical transport networking equipment market is characterized by rapid technological change, changes in customer requirements and evolving industry standards. We continually invest in research and development to sustain or enhance our existing products, but the introduction of new communication…

• Under Section 404 of the Sarbanes-Oxley Act of 2002(“SOX”), we are required to evaluate and determine the effectiveness of our internal controls over financial reporting. Ineffective internal control over financial reporting could result in errors in our financial statements, reduce investor confide…

• We believe that these Tax Benefits are a valuable asset for us. The Amended and Restated Tax Benefit Preservation Plan (the “Plan”), dated as of August 27, 2020, and amended as of February 28, 2023, is intended to protect our Tax Benefits during the effective period of the Plan. The amended Plan was…

• Continued tension in global trade relations, including U.S.-China trade relations, may adversely impact our supply chain operations and business.

Text added vs the prior filing · source: 10-K · 2026-08-27

• In the second and fourth quarters of fiscal 2025, the Company transferred consideration of $5.8 million and $12.7 million, respectively, to settle the post-closing working capital adjustment. Refer to Note 12. Acquisitions of the Notes to the consolidated financial statements in this Annual Report o…

• The Company achieved revenue growth of 1% in fiscal 2026 primarily driven by a 10% increase in software & licenses and 6% increase in equipment sales. This was partially offset by a 15% decrease in field services.

• Revenue in North America increased by $12.4 million in fiscal 2026 primarily due to increases in software & licenses and field services, which increased 25% and 11%, respectively.

• Revenue in Latin America and Asia Pacific decreased by $26.2 million in fiscal 2026 primarily due to lower demand for field services of 50%.

• Gross margin for fiscal 2026 decreased by $1.1 million, while gross margin as a percentage of revenue reduced by 0.6 percentage points due to lower service revenue, offset by sales volumes and the mix of product and service offerings.

Text removed vs the prior filing · source: 10-K · 2025-09-10

• In the first quarter of fiscal 2023, the Company acquired all of the issued and outstanding shares of Redline Communications Group Inc. (“Redline”), for a purchase price of $20.4 million. Redline is a leading provider of mission-critical data infrastructure. See Note 12. Acquisitions of the Notes fo…

• The Company achieved revenue growth of 6.5% in fiscal 2025 primarily driven by contributions from the NEC Transaction and the 4RF acquisition, and 21% growth in managed services driven by increased demand on a larger install base. This was partially offset by lower demand for software offerings and …

• Revenue in North America increased by $1.5 million in fiscal 2025 primarily due to contributions of the 4RF acquisition of $18.8 million, partially offset by lower mobile operator demand, which decreased $17 million.

• Revenue in Latin America and Asia Pacific increased by $17.3 million in fiscal 2025 primarily due to higher demand for Pasolink projects and services increasing 37%, higher demand for software which increased 13%, and contributions from the 4RF acquisition of $5.4 million, partially offset by lower …

• Revenue from product sales and services increased by 4.9% and 9.8%, respectively in fiscal 2025 primarily due to the same overall factors of revenue growth discussed previously.