UI — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-08-21

• In addition to Mr. Pera, our founder, Chairman of the Board and Chief Executive Officer, who is central to our business, the

• majority of our human capital resources consist of entrepreneurial and de-centralized research and development (“R&D”) personnel. We do not employ a traditional direct sales force, but instead drive brand awareness through online reviews and publications, our website, our distributors and the Compan…

• We offer a broad and expanding portfolio of networking products and solutions for operator-owners of wireless internet services (“WISPs”), enterprises and smart homes. Our operator-owner service-provider-product platforms provide carrier-class network infrastructure for fixed wireless broadband, wir…

• We operate our business as one reportable and operating segment. Further information regarding Segments can be found in Note 14 to our Consolidated Financial Statements. Our revenues were $3.3 billion, $2.6 billion and $1.9 billion in the fiscal years ended June 30, 2026, 2025 and 2024, respectively…

• Global demand for reliable, high-capacity connectivity continues to expand as consumers, enterprises and service providers support a growing number of connected users, devices and applications. Internet traffic remains driven by bandwidth-intensive uses such as video streaming, cloud-based applicati…

Text removed vs the prior filing · source: 10-K · 2025-08-22

• In addition to Mr. Pera, our founder, Chairman of the Board and Chief Executive Officer, who is central to our business, the majority of our human capital resources consist of entrepreneurial and de-centralized research and development (“R&D”) personnel. We do not employ a traditional direct sales f…

• We offer a broad and expanding portfolio of networking products and solutions for operator-owners of wireless internet services (“WISP’s”), enterprises and smart homes. Our operator-owner service-provider-product platforms provide carrier-class network infrastructure for fixed wireless broadband, wi…

• We operate our business as one reportable and operating segment. Further information regarding Segments can be found in Note 13 to our Consolidated Financial Statements. Our revenues were $2.6 billion, $1.9 billion and $1.9 billion in the fiscal years ended June 30, 2025, 2024 and 2023, respectively…

• Internet traffic worldwide has grown rapidly in recent years, driven by an increase in the number of users, increasing mobility of those users and high bandwidth applications, such as video, audio, cloud-based applications, online gaming and social networking. Wired networking solutions have traditi…

• Our current Service Provider technology and carrier solutions include:

Text added vs the prior filing · source: 10-K · 2026-08-21

• •our reliance on a limited number of suppliers, our inability to predict shortages in components, price increases or other supply disruptions and our failure to identify or qualify alternative suppliers;

• •a global economic downturn and adverse macroeconomic trends;

• •the ineffective management of product introductions, product transitions and marketing or our inability to remain competitive and stimulate customer demand for our products;

• •our growth depends in part on the success of our strategic relationships with third parties and our ability to integrate with third-party applications and services;

• •our inability to anticipate customer preferences and develop desirable products and solutions, or to execute our strategy for our products or develop our sales channels;

Text removed vs the prior filing · source: 10-K · 2025-08-22

• •our reliance on a limited number of suppliers and our inability to predict shortages in components or other supply disruptions as a result of, including, without limitation, the military conflict between Russia and Ukraine, the escalating tensions between China and Taiwan, or our failure to identif…

• •lower than expected returns and exposure to increased operational risks from our investments in business lines, products, services, technologies, joint ventures and other strategic transactions;

• •the ineffective management of product introductions, product transitions and marketing or our inability to remain competitive and stimulate customer demand for our products;

• •our inability to anticipate customer preferences and develop desirable products and solutions, or to execute our strategy for our products or develop our sales channels;

• •general credit, liquidity, market, and interest rate risks to our investment securities;

Text added vs the prior filing · source: 10-K · 2026-08-21

• interface. We believe that our products are differentiated due to our proprietary software, firmware expertise, and hardware design capabilities.

• Supply Constraints and Risks – We have experienced in the past, and are currently experiencing volatility in the supply of components used to manufacture our products. This volatility has resulted in supply constraints and corresponding increases in component delivery lead times and costs to obtain …

• Russia-Ukraine Military Conflict - We are monitoring the ongoing military conflict between Russia and Ukraine, associated tensions in surrounding countries, and associated economic sanctions. While the impact on our operations in Ukraine and its surrounding countries has not been material to our bus…

• PCS obligation. When our contracts contain multiple performance obligations, we allocate the transaction price based on the estimated standalone selling prices of the promised products or services underlying each performance obligation.

• Service Provider Technology revenues decreased $17.4 million, or 5%, from $319.3 million in fiscal 2025 to $301.9 million in fiscal 2026, primarily due to decrease in revenue in our Service Provider Technology platform across all regions except North America and Asia Pacific.

Text removed vs the prior filing · source: 10-K · 2025-08-22

• Supply Constraints and Risks – We have experienced in the past, particularly from 2020 to 2023, and may experience in the future, periodic volatility in the supply of components used to manufacture our products. This has resulted in supply constraints and corresponding increases in component deliver…

• to secure supply and meet customer demand, paying higher component and shipping costs to secure supply and modifying our product designs to leverage alternate suppliers. Although these mitigation efforts are intended to optimize our access to the components required to meet customer demand for our p…

• Russia-Ukraine Military Conflict - We are monitoring the military conflict between Russia and Ukraine, escalating tensions in surrounding countries, and associated economic sanctions. While the impact on our operations in Ukraine and its surrounding countries has not been material to our business or…

• Service Provider Technology revenues increased $8.5 million, or 2.7%, from $310.8 million in fiscal 2024 to $319.3 million in fiscal 2025, primarily due to increase in revenue in our Service Provider Technology platform in the Europe, the Middle East and Africa region, partially offset by declines i…

• Revenues in North America increased $349.1 million, or 36.9%, from $946.4 million in fiscal 2024 to $1,295.5 million in fiscal 2025. The year-over-year increase was due to increased revenue from our Enterprise Technology products, offset in part by decreased revenue from our Service Provider Technol…

Text added vs the prior filing · source: 10-K · 2026-08-21

• Certain of our sales, labor and other costs included in costs of revenue and operating expenses are denominated in the currencies of the countries in which our operations are located and may be subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Chi…

Text removed vs the prior filing · source: 10-K · 2025-08-22

• We are exposed to interest rates risks primarily through borrowing under our credit facility. Interest on our borrowings is based on variable rates. Based on a sensitivity analysis, as of June 30, 2025, an instantaneous and sustained 200-basis-point increase in interest rates affecting our floating …

• We have certain bank accounts outside the U.S., which are denominated in the currencies of the countries in which our operations are located, and may be subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Chinese Yuan, Euro, and Taiwan Dollar. A 10%…