Aviat Networks, Inc. · NASDAQ:AVNW
Aviat Networks — Investor Presentation (November 2021)
21 slides from Aviat Networks's investor presentation, November 2021
Slide 1: Aviat Networks (NASDAQ: AVNW)
Aviat Networks (NASDAQ: AVNW) November 2021
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 Networks Company Profile
Aviat Networks Company Profile OVERVIEW REVENUE SUMMARY • Aviat Networks is a leading pureplay wireless microwave transport Revenue by region Revenue by market Revenue by product/service equipment, software and services provider APAC 11% Europe • US Headquarters (Austin, TX) 3% Latin • Global Custom
Slide 4: Business Financial Summary
Business Financial Summary KEY STATISTICS KEY FINANCIAL METRICS LTM Trading Symbol AVNW REVENUE $281.8M Shares outstanding ~11.2 million Stock Price $30.73* Adjusted EBITDA* $34.0M Market Cap ~$339million* Cash $47.3M Headquarters Austin, Texas # of Employees ~660 Debt $0.0M 52 Week High/Low $43.76
Slide 5: Aviat – Pureplay Wireless Transport Solutions
Aviat – Pureplay Wireless Transport Solutions 5G Networks Private Networks Rural Broadband Utility / Public Safety Aviat Differentiation Best in Class Wireless Transport Products Unique Software and Services Disruptive Supply Chain and Ecommerce AVIAT EQUIPMENT MICROWAVE RADIO ACCESS / CELLULAR FIBE
Slide 6: Recent Wins
Recent Wins 5G Networks Private Networks Dish Network Safaricom Globe Virginia State Police Corporation 5G transport Extension of contract » 2024 Complete network High capacity 5G wireless transport Rural Broadband Nextlink Internet LTD Broadband High-speed wireless backhaul Middle mile & fiber redu
Slide 7: 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 Capture • Strong Incumbency to Grow with Installed Base • Compelling Value Prop
Slide 8: Rural Broadband Opportunity
Rural Broadband Opportunity “There are up to 42 million Americans for whom this essential network is not available, and millions more for whom it is available but unaffordable.” Brookings Institute $73B+ in Wireless Transport is the Aviat is #1 in USA Rural Available Funding Solution Broadband Trans
Slide 9: Aviat’s Large and Growing 5G Opportunity
Aviat’s Large and Growing 5G Opportunity Wireless transport accounts for 60% of global Modest growth in overall wireless transport with significant cellular transport links from 2021 through 2027 5G market growth rates (41% CAGR) Transport Technologies 100% 5G Wireless Transport Market Forecast ($M)
Slide 10: OpenRAN is becoming a global commercial reality
OpenRAN is becoming a global commercial reality 0.7% 2020 Rest of RAN Open RAN 9.4% 2024 Rest of RAN Open RAN OpenRAN is a rapidly growing architecture for 5G Allows operators to select best transport solution, and avoid getting “locked-in” to bundled deals Operators adopting OpenRAN. Source: Telec
Slide 11: Well Positioned in Growing 5G and Rural Broadband Markets
Well Positioned in Growing 5G and Rural Broadband Markets • Best in Class Wireless Transport Products • Industry’s highest capacity, highest power radios on the market for lowest TCO • First to integrate microwave and IP/MPLS routing • Unique multi-band solution for 5G AviatCloud • Unique Software (
Slide 12: Why we win: Private Networks Wireless Transport
Aviat: The Leader in Private Networks Wireless Transport Why we win Growth Drivers Segments We Address Aviat Leadership ARPA Funding Gas Mission Critical Product Differentiation ($350B for US States’ water, sewer and Water - Highest Power Radios broadband infrastructure). States upgrading Electric U
Slide 13: Multi-Band: The Ideal Solution for 5G Transport
Multi-Band: The Ideal Solution for 5G Transport Gbps More Capacity for 5G Lower Spectrum Costs 10 $100,000 $70,000 5 SAVINGS $50,000 Software scalable 2.5 with no new hardware $25,000 or site visits 1 $10,000 Time 3 yr cost. 2Gbps link, Year 1 Year 2 Year 3 Year 5 Microwave Multi-Band Aviat: One Box
Slide 14: Aviat – A Highly Differentiated Offering
Aviat – A Highly Differentiated Offering Innovations in Products, Software & Services, & Supply Chain WIRELESS TRANSPORT SOFTWARE & SERVICES SUPPLY CHAIN & DELIVERY PRODUCTS Ex: FREQUENCY ASSURANCE Ex: AVIAT STORE Ex: MULTI-BAND SOFTWARE (FAS) Industry’s only single box multi- Industry's only expert
Slide 15: Innovative SaaS Cloud-Based Platform
Innovative SaaS Cloud-Based Platform AVIATCLOUD Secure Hosted Software and Services (www.aviatcloud.com) AVIAT AVIAT AVIAT AVIAT AVIAT AVIAT MANAGED EDUCATE* DESIGN STORE* MY ORDERS CARE* SERVICES* SW Licensing, TAC, Network monitoring Online & in-person repair/return, Managed services Cloud-based p
Slide 16: Competitive Positioning: Why We Will Win Versus…
Competitive Positioning: Why We Will Win Versus… Specialists » Aviat Advantage Competitor Implication Highly leveraged in chipsets, products designed for cost Modular radio platform. Full portfolio of radios and – difficult to create new product variants quickly, and Products routers. Better RF perf
Slide 17: First Fiscal Quarter 2022 Financial Highlights and Historical Performance
First Fiscal Quarter 2022 Financial Highlights and Historical Performance
Slide 18: First Fiscal Quarter 2022 Financial Highlights
Year-Over-Year Comparison ($’s in millions) Q1 FY22 Q1 FY21 • Total Q1 Fiscal 2022 Revenue of First Fiscal Actual Actual $73.2 Million, Up 10% Year-Over- Year. Revenue $73.2 $66.3 Quarter 2022 Gross Margin % 35.7% 36.7% • Q1 Fiscal 2022 Adjusted EBITDA Non-GAAP Operating Expenses $17.8 $17.2 of $9.6
Slide 19: Balance Sheet Highlights
($’s in millions, Q1 Q4 Q3 Q2 Q1 except for FY22 FY21 FY21 FY21 FY21 Balance Sheet DSO, DPO and Turns) Actual Actual Actual Actual Actual Highlights Cash and Cash $47.3 $47.9 $45.8 $43.0 $36.2 Equivalents Third-Party $0.0 $0.0 $0.0 $0.0 $0.0 Debt $47.3 Million Net Cash, ($0.6) Net Cash $47.3 $47.9 $
Slide 20: Historical Performance
Historical Performance ($’s million) Total Revenue Non-GAAP Gross Margin $80 $70.5 $71.7 $73.2 40% 38.6% 38.3% 38.7% $62.7 $66.3 $66.4 $58.6 $56.0 $61.4 38% 36.7% 36.2% 35.7% $60 35.9% 36% 34.9% $40 34% 32.8% 32% $20 30% $0 28% Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q1FY20 Q2
Slide 21: Aviat Networks
Aviat NETWORKS DOGeO WWW.AVIATNETWORKS.COM
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