Vistance Networks, Inc. · NASDAQ:VISN
Vistance Networks — Q1 2026 Earnings Presentation
23 slides from Vistance Networks's earnings presentation, Apr 30, 2026
Slide 1: First Quarter 2026 Results
First Quarter 2026 Results April 30, 2026
Slide 2: Important information
Important information Caution Regarding Forward Looking Statements This presentation includes certain statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amende
Slide 3: Ruckus Deal Announcement
Ruckus Deal Announcement • Entered into a definitive agreement to sell Ruckus business to Belden for $1.846 billion − Expect closing in the second half of 2026 − Further unlocks equity value and returns additional cash to shareholders. • Expect to use most of the proceeds to pay a cash distribution
Slide 4: First quarter results
First quarter results • Net Sales increased due to market growth and strategic initiatives. − Q1 Net sales of $472 million increased 22% from prior year. • Core Adjusted EBITDA(2) of $87 million on track to achieve guidepost range of $350 - $400 million (1). − Q1 Core Adjusted EBITDA (2) of $87 mill
Slide 5: First quarter results
First quarter results(1) Vistance Networks Core Vistance Networks(2) (In $millions) “Continuing Operations” (In $millions, except per share amounts) 1Q’25 1Q’26 Y/Y Change 1Q’25 1Q’26 Y/Y Change Results Results Results Results Net Sales $388 $472 +22% Net Sales $388 $472 +22% Adj. EBITDA(3) $63 $87
Slide 6: First quarter business highlights
First quarter business highlights Business Segment Net Sales ($M) Y-Y% Adj. EBITDA(1) ($M) Y-Y% Observations 1Q’25 1Q’26 1Q’25 1Q’26 • Higher Adjusted EBITDA driven by DOCSIS 4.0 product revenue and cost management. • Began shipping ESD DOSCIS 4.0 products to large North Aurora Aurora Networks +33%
Slide 7: Cash flow update
Cash flow update (1) GAAP Cash Flow from Operations ($M) Free Cash Flow ($M) (2) $255 $281 $135 $151 $64 $77 $(187) $(202) $(227) $(229) 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 • As expected, there was a significant use of cash during the first quarter driven by working capital n
Slide 8: Strong, Unlevered Balance Sheet with Excess Cash
Strong, Unlevered Balance Sheet with Excess Cash • Paid down all debt and redeemed preferred equity with CCS transaction leaving no debt on the business. • End of quarter cash on hand of $2.5 billion • Paid out $2.26 billion or $10 per share in special distribution on April 27 − Due to market condit
Slide 9: Closing Remarks
Closing Remarks Chuck Treadway President and Chief Executive Officer 9
Slide 10: Appendix
VISTANCE NETWORKS Appendix
Slide 11: Condensed Consolidated Statements of Operations
Vistance Networks, Inc. Condensed Consolidated Statements of Operations (Unaudited -- In millions, except per share amounts) Thre e Months Ende d March 31, 2026 2025 Net sales $ 471.8 $ 388.1 Cost of sales 238.1 190.5 Gross profit 233.7 197.6 Transition service agreement income 1.1 8.7 Statements of
Slide 12: Condensed Consolidated Balance Sheets
Vistance Networks, Inc. Condensed Consolidated Balance Sheets (In millions, except share amounts) Unaudited March 31, 2026 December 31, 2025 Assets Cash and cash equivalents $ 2,510.0 $ 754.4 Accounts receivable, net of allowance for doubtful accounts of $0.7 and $1.6, respectively 377.4 350.4 Inven
Slide 13: Condensed Consolidated Statements of Cash Flows
Vistance Networks, Inc. (1) Condensed Consolidated Statements of Cash Flows (Unaudited -- In millions) Three Months Ended March 31, 2026 2025 Operating Activities: Net income $ 5,508.0 $ 784.0 Adjustments to reconcile net income to net cash used in operating activities: Statements of Depreciation an
Slide 14: Sales and Adjusted EBITDA by Segment
Vistance Networks, Inc. Segment Information (Unaudited -- In millions) Sales and Segment Net Sales Q1 2026 Q1 2025 % Change YOY Adjusted EBITDA RUCKUS Aurora Total net sales $ $ 173.4 298.4 471.8 $ $ 163.1 225.0 388.1 6.3 % 32.6 21.6 % by Segment Segment Adjusted EBITDA (1) % Change Q1 2026 Q1 2025
Slide 15: Sales by Region
Sales by Region Vistance Networks, Inc. Sales by Region (Unaudited -- In millions) Sales by Region % Change Q1 2026 Q1 2025 YOY United States $ 327.7 $ 264.1 24.1 % Europe, Middle East and Africa 72.3 53.0 36.4 Asia Pacific 42.8 28.4 50.7 Caribbean and Latin America 14.4 19.0 (24.2) Canada 14.6 23.6
Slide 16: Sales and Adjusted EBITDA by Segment
Vistance Networks, Inc. Segment Information (Unaudited -- In millions) Sales and Segment Net Sales Q1 2026 Q1 2025 % Change YOY Adjusted EBITDA RUCKUS Aurora Total net sales $ $ 173.4 298.4 471.8 $ $ 163.1 225.0 388.1 6.3 32.6 21.6 % % by Segment Segment Adjusted EBITDA (1) % Change Q1 2026 Q1 2025
Slide 17: RUCKUS Sales and Adjusted EBITDA
Vistance Networks, Inc. Segment Information RUCKUS Sales (Unaudited -- In millions) RUCKUS Net Sales and Adjusted % Change Q1 2026 Q1 2025 YOY (1) Core RUCKUS $ 173.4 $ 152.5 13.7 % EBITDA OneCell — 10.6 NM Total RUCKUS net sales $ 173.4 $ 163.1 6.3 % (2) RUCKUS Adjusted EBITDA % Change Q1 2026 Q1 2
Slide 18: Adjusted EBITDA Reconciliation by Segment
Vistance Networks, Inc. Reconciliation of GAAP to Segment Adjusted EBITDA (Unaudited -- In millions) First Quarter 2026 Segment Adjusted EBITDA Reconciliation RUCKUS Aurora Total Operating income, as reported $ 8.7 $ 15.0 $ 23.7 Adjusted EBITDA Amortization of purchased intangible assets Restructuri
Slide 19: RUCKUS Adjusted EBITDA Reconciliation
Vistance Networks, Inc. Reconciliation of GAAP to RUCKUS Adjusted EBITDA (Unaudited -- In millions) First Quarter 2026 RUCKUS Adjusted EBITDA Reconciliation (1) RUCKUS Adjusted Core RUCKUS OneCell Total RUCKUS Operating income, as reported $ 8.6 $ 0.1 $ 8.7 Amortization of purchased intangible asset
Slide 20: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Vistance Networks, Inc. Free Cash Flow (Unaudited -- In millions) (1) Free Cash Flow Q1 Q2 Q3 Q4 Q1 2025 2025 2025 2025 2026 Cash flow from operations $ (186.9) $ 77.1 $ 151.4 $ 281.3 $ (226.6) Capital expenditures (15.5) (12.6) (16.4) (25.8) (2.2) Free cash flow $ (202
Slide 21: Adjusted Gross Profit and Adjusted Operating Expense
Vistance Networks, Inc. Adjusted Gross Profit and Adjusted Operating Expense (Unaudited -- In millions) Adjusted Gross GAAP to Non-GAAP Adjusted Gross Profit Profit and Adjusted Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Gross profit, as reported $ 197.6 $ 279.6 $ 244.4 $ 234.3 $ 233.7 Equity-based com
Slide 22: Adjusted EBITDA Outlook Reconciliation
Vistance Networks, Inc. Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures (Unaudited -- In millions) Adjusted EBITDA Outlook Reconciliation (1) Adjusted EBITDA Outlook Range 2026 Outlook Aurora operating income Adjustments: Amortization of purchased intangible assets $ 100 78 $ 125 78 Re
Slide 23: Adjusted EBITDA Outlook Reconciliation
Vistance Networks, Inc. Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures (Unaudited -- In millions) Adjusted EBITDA Adjusted EBITDA Outlook Reconciliation Outlook Range Outlook Operating income Adjustments: $ 162 2026 $ 205 Reconciliation Amortization of purchased intangible assets Equi