The following is a summary of the Aviat Networks, Inc. (AVNW) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Q4 fiscal 2024 revenue was $117 million, up 28% from the previous year.

• Full year fiscal 2024 revenue reached $408 million, a 19% increase from the previous fiscal year. Adjusted EBITDA for the year was $48 million, up 6%.

• Aviat achieved non-GAAP EPS of $0.72 in Q4.

• Gross margin for Q4 was reported at 35.3% on a GAAP basis and 35.9% on a non-GAAP basis, with the core business achieving non-GAAP gross margins of 38.7%, driven by project and regional mix, as well as increased software sales.

• For fiscal 2025, projected revenue is in the range of $450 million to $490 million, with adjusted EBITDA expected between $46 million and $52 million.

Business Progress:

• Closed the Pasolink acquisition enhancing Aviat's product portfolio and international business scale.

• Introduced Pasolink support on ProVision Plus, Aviat's network management software, tapping into a base of over 800,000 active Pasolink radios.

• Achieved a significant new customer win in the public safety sector.

• Plans to integrate the recently acquired 4RF, expanding into new market segments like industrial SCADA and cellular routers.

Opportunities:

• Expects to drive revenue growth and expand market presence through the Pasolink acquisition and integration with Aviat's network management software, providing a strong software business outlook for fiscal 2025.

• Anticipates growth opportunities in private networks due to healthy state and local government budgets and the demand for modernized public safety networks.

• Sees potential in capturing more market share from competitors, particularly in markets moving away from certain foreign vendors.

Risks:

• Indicated that the ramp-up of AI services and capturing Tier 1 mobile network revenues might be challenging due to market conditions and muted capital expenditure in this sector.

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