The following is a summary of the Aviat Networks, Inc. (AVNW) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Aviat Networks reported Q3 2024 revenue of $111.6 million, up by 34% year-on-year.

• The company delivered strong financial performance with non-GAAP gross margin of 35%.

• Adjusted EBITDA of $12 million represents an increase of 11% from the preceding year, along with non-GAAP EPS of $0.73.

• Cash generation remained strong with $59.2 million of cash and marketable securities on the balance sheet and a net cash balance of $10 million.

• Currency issues negatively impacted the company's revenue by 4%; otherwise, additional $1.9 million would have been added to the EBITDA.

Business Progress:

• The company showed good progress following its Pasolink acquisition, optimizing its cost structure, reducing excess inventory, and creating cross-selling opportunities.

• Aviat introduced several updates to accommodate private network customers.

• The firm entered the previously unaddressed $200 million Indian microwave segment, receiving its first orders for microwave backhaul radios.

• Despite a slow ramp in business due to the integration of services, the company expects the ramp to take 6 months to complete.

• Aviat expects reduction in selling and admin expenses as it phases out transition services and seeks to leverage its strong financial standing.

• There is optimism for further growth on the back of strong customer engagement and potential future opportunities, particularly from the success of Aviat software over the Pasolink radio system and the anticipated growth from their share in the US rural broadband market.

More details: Aviat Networks IR

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