A company still losing money with growing sales. Institutions are adding.
Going well
Sales up 53% in the latest quarter vs a year ago
Sales up 40% last year
Buying back shares: share count down 3.7% in 3 years
Watch out for
Losing money
Debt above equity: 1.46x
Money moves
No insider buying or selling in the last 30 days
Institutions added 4% to their holdings in the quarter ending June 2026 (340 bought, 235 sold)
Held by Ray Dalio (Bridgewater)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$31.89+4.8% that day
Company value
$7.9B
Share price times all shares
Price vs sales
5.2x
No profit over the last year, so this compares value with sales instead
Cash vs value
8%
Cash as a share of company value
Debt vs value
16%
Debt as a share of company value
From VIAV's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26 (worked out from yearly totals)
$443.1M+53% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $1.5B, up 40% from the 12 months before.
What the price assumes
Your guesses, our math
Move the sliders to your own view of VIAV. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$5.6B
Profit in 5 years$564M
Price these guesses point to$36.04+13% vs $31.89 todayAbout +2.5% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 27% a year for 5 years just to match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
Forum talk counts mentions of VIAV in popular online stock forums, a slice of the internet rather than all of it. Company lookups show interest in the company itself, which can come from news that isn't about the stock. Attention isn't quality.
Business quality
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/7Mixed
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-4.0%
MissDebt under half of equityNot relying on borrowed money.1.46x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-2.0%
MissProfitable every yearSteady profits, not one good year.7 of 9 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$82.8M
PassShare count not growingNot diluting owners. Falling means buybacks.-3.7% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.57.7%
Revenue
$1.5B
+40.0% vs prior year
Total debt
$1.2B
1.46x equity
Current ratio
2.61x
short-term assets / bills due
Free cash flow
$82.8M
5.5% of revenue
From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 27, 2026
Reported Aug 5
Revenue
$443.1M
+52.5% YoY
EPS
$0.15
vs $0.03
Op. margin
13.8%
+8.5 pts
Gross margin
59.1%
+2.8 pts
Free cash flow
$55.6M
Share count
+10.5%
vs a year ago
Some values are worked out from year-to-date totals in the annual report.
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
2.8
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+4.0%
Institutions added 4.0% to their holdings. 340 bought, 235 sold. 5 quarters of net buying in a row.
Shares held by institutions240.6M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+3.7%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
0.3x · $397.1M debt
Shares outstandingLatest reported
247M
Why moderate risk
Losing money
2 offering filings in 6 months (may sell new shares)
Earnings reports
Last 12
Next reportIn 1 days (est.)Estimated from the same quarter last year
Results filedAug 5
Results filedApr 29
Results filedJan 28
Results filedOct 29, 2025
Results filedAug 7, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days