Aviat Networks, Inc. · NASDAQ:AVNW
Aviat Networks — Q4 2020 Earnings Presentation
11 slides from Aviat Networks's earnings presentation, Aug 27, 2020
Slide 1: Aviat Networks Financials Q4'20 and FY'20
Aviat Networks (NASDAQ: AVNW) Financials Q4’20 and FY’20 August 27th, 2020
Slide 2: Forward-Looking Statements
Forward-Looking Statements The information contained in this presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E of the Securities Exchange Act and Section 27A of the Securities Act, including expectations regarding
Slide 3: Aviat Company Profile
Aviat Company Profile OVERVIEW GLOBAL BUSINESS (FY20) • Aviat Networks is the leading pure play microwave, software and Revenue by region Revenue by market Revenue by product/service services provider APAC 12% • US Headquarters (Austin, TX) Europe 5% • Global customer base (3000+ customers) Latin Am
Slide 4: Aviat's Investment Thesis
Aviat’s Investment Thesis Tremendous Market • 5G, critical communications, rural broadband, emerging economies underpin demand Opportunity • 6% share in a $3B market, significant opportunity for growth Well Positioned to • Strong incumbency to grow with installed base • Compelling value proposition
Slide 5: Business Financial Summary
Business Financial Summary KEY STATISTICS KEY FINANCIAL METRICS FY20 Trading Symbol AVNW REVENUE $239M Shares outstanding ~5.4 million Stock Price $19.94* Adjusted EBITDA $13.5M Market Cap ~$107.5 million* Cash (7/3/2020) $41.6M Headquarters Austin, Texas # of Employees ~700 Debt (7/3/2020) $9.0M 52
Slide 6: Well Positioned in Growing Wireless Transport Market
Well Positioned in Growing Wireless Transport Market GROWTH DRIVERS AVIAT SOLUTIONS • Mobile and 5G • Best in Class Wireless Transport • Higher capacity, new services Products • Industry’s highest capacity, highest power radios • Public safety and security related communications • First to integrate
Slide 7: Historical and Recent Financial Performance
Historical and Recent Financial Performance
Slide 8: Q4 FY20 and FY20 Year-Over-Year Comparison
Year-Over-Year Comparison The Company achieved an annual Q4 FY20 and ($’s in millions) Q4 FY20 Actual Q4 FY19 Actual Adjusted EBITDA of $13.5 million, which exceeded the top end of the FY20 Revenue $62.7 $64.2 Adjusted EBITDA guidance of $11- Non-GAAP Gross Margin % 34.9% 35.1% $12 million, and incr
Slide 9: Balance Sheet Highlights
($’s in millions, Q4 FY20 Q3 FY20 Q2 FY20 Q1 FY20 except for DSO, Balance Sheet DPO and Turns) Actual Actual Actual Actual Highlights Cash and Cash Equivalents $41.6 $39.2 $38.1 $34.5 Accounts Cash up $2.4 million $44.7 $48.1 $44.4 $43.2 sequentially and $9.7 million Receivable since FY19 year-end D
Slide 10: Historical Performance
Historical Performance ($’s million) Total Revenue Non-GAAP Gross Margin $280 40% 35.6% $268.7 31.4% 33.1% 32.5% $270 30% 24.9% $260 $250 $241.9 $242.5 $243.9 20% $238.6 $240 10% $230 $220 0% FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 ($’s million) Non-GAAP Operating Expenses ($’s million) Ad
Slide 11: Aviat Networks
Aviat NETWORKS DOGOO WWW.AVIATNETWORKS.COM