Aviat Networks (AVNW)
Market Price (4/12/2026): $21.95 | Market Cap: $282.2 MilSector: Information Technology | Industry: Communications Equipment
Aviat Networks (AVNW)
Market Price (4/12/2026): $21.95Market Cap: $282.2 MilSector: Information TechnologyIndustry: Communications Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 5.7% Low stock price volatilityVol 12M is 45% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Smart Grids & Grid Modernization. Themes include Network Equipment, Telecom Infrastructure, Show more. | Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -102% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -5.7% Key risksAVNW key risks include [1] material weaknesses in its internal control over financial reporting that have resulted in accounting errors and [2] soft demand in critical U.S. Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 5.7% |
| Low stock price volatilityVol 12M is 45% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Smart Grids & Grid Modernization. Themes include Network Equipment, Telecom Infrastructure, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -102% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -5.7% |
| Key risksAVNW key risks include [1] material weaknesses in its internal control over financial reporting that have resulted in accounting errors and [2] soft demand in critical U.S. Show more. |
Qualitative Assessment
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Aviat Networks (AVNW) stock has gained about 5% since 12/31/2025 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance and Year-over-Year Decline in Revenue.
Aviat Networks reported its fiscal second quarter 2026 results for the period ended December 26, 2025, on February 3, 2026. The company experienced a 5.7% decrease in total revenues year-over-year, falling to $111.5 million from $118.2 million in the comparable fiscal 2025 period. While GAAP net income saw an increase to $5.7 million, or $0.44 per diluted share, from $4.5 million in the prior year, non-GAAP net income decreased to $7.0 million, or $0.54 per diluted share, from $10.5 million year-over-year. Additionally, GAAP gross margins declined to 32.4% from 34.6% in fiscal Q2 2025. These mixed financial signals likely contributed to the stock's inability to achieve significant upward momentum since the start of 2026.
2. Reaffirmation of Fiscal 2026 Full-Year Guidance.
Despite the mixed Q2 results, Aviat Networks reaffirmed its fiscal 2026 full-year guidance, maintaining projections for annual revenue between $440 million and $460 million and adjusted EBITDA between $45 million and $55 million. While this demonstrated management's confidence in meeting its annual targets, the absence of an upward revision to this guidance suggests that future growth expectations were already largely priced into the stock, thus limiting any new positive catalysts for substantial price movement.
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1. Mixed Fiscal Q2 2026 Financial Performance and Year-over-Year Decline in Revenue.
Aviat Networks reported its fiscal second quarter 2026 results for the period ended December 26, 2025, on February 3, 2026. The company experienced a 5.7% decrease in total revenues year-over-year, falling to $111.5 million from $118.2 million in the comparable fiscal 2025 period. While GAAP net income saw an increase to $5.7 million, or $0.44 per diluted share, from $4.5 million in the prior year, non-GAAP net income decreased to $7.0 million, or $0.54 per diluted share, from $10.5 million year-over-year. Additionally, GAAP gross margins declined to 32.4% from 34.6% in fiscal Q2 2025. These mixed financial signals likely contributed to the stock's inability to achieve significant upward momentum since the start of 2026.
2. Reaffirmation of Fiscal 2026 Full-Year Guidance.
Despite the mixed Q2 results, Aviat Networks reaffirmed its fiscal 2026 full-year guidance, maintaining projections for annual revenue between $440 million and $460 million and adjusted EBITDA between $45 million and $55 million. While this demonstrated management's confidence in meeting its annual targets, the absence of an upward revision to this guidance suggests that future growth expectations were already largely priced into the stock, thus limiting any new positive catalysts for substantial price movement.
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Stock Movement Drivers
Fundamental Drivers
The 2.7% change in AVNW stock from 12/31/2025 to 4/12/2026 was primarily driven by a 10.8% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 4122026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.38 | 21.95 | 2.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 453 | 447 | -1.5% |
| Net Income Margin (%) | 3.0% | 3.3% | 10.8% |
| P/E Multiple | 20.4 | 19.3 | -5.2% |
| Shares Outstanding (Mil) | 13 | 13 | -0.7% |
| Cumulative Contribution | 2.7% |
Market Drivers
12/31/2025 to 4/12/2026| Return | Correlation | |
|---|---|---|
| AVNW | 2.9% | |
| Market (SPY) | -5.4% | 48.1% |
| Sector (XLK) | -0.9% | 23.4% |
Fundamental Drivers
The -4.3% change in AVNW stock from 9/30/2025 to 4/12/2026 was primarily driven by a -91.1% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4122026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.93 | 21.95 | -4.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 435 | 447 | 2.8% |
| Net Income Margin (%) | 0.3% | 3.3% | 959.5% |
| P/E Multiple | 217.3 | 19.3 | -91.1% |
| Shares Outstanding (Mil) | 13 | 13 | -1.2% |
| Cumulative Contribution | -4.3% |
Market Drivers
9/30/2025 to 4/12/2026| Return | Correlation | |
|---|---|---|
| AVNW | -4.1% | |
| Market (SPY) | -2.9% | 47.0% |
| Sector (XLK) | 1.4% | 33.8% |
Fundamental Drivers
The 14.5% change in AVNW stock from 3/31/2025 to 4/12/2026 was primarily driven by a 12.7% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4122026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.17 | 21.95 | 14.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 434 | 447 | 2.9% |
| P/S Multiple | 0.6 | 0.6 | 12.7% |
| Shares Outstanding (Mil) | 13 | 13 | -1.3% |
| Cumulative Contribution | 14.5% |
Market Drivers
3/31/2025 to 4/12/2026| Return | Correlation | |
|---|---|---|
| AVNW | 14.7% | |
| Market (SPY) | 16.3% | 52.4% |
| Sector (XLK) | 38.8% | 45.3% |
Fundamental Drivers
The -36.3% change in AVNW stock from 3/31/2023 to 4/12/2026 was primarily driven by a -31.5% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4122026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.46 | 21.95 | -36.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 324 | 447 | 37.9% |
| Net Income Margin (%) | 4.3% | 3.3% | -23.6% |
| P/E Multiple | 28.2 | 19.3 | -31.5% |
| Shares Outstanding (Mil) | 11 | 13 | -11.7% |
| Cumulative Contribution | -36.3% |
Market Drivers
3/31/2023 to 4/12/2026| Return | Correlation | |
|---|---|---|
| AVNW | -36.2% | |
| Market (SPY) | 63.3% | 29.2% |
| Sector (XLK) | 92.6% | 25.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AVNW Return | 88% | -3% | 5% | -45% | 18% | -1% | 24% |
| Peers Return | 46% | -34% | -12% | 88% | 176% | 108% | 822% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| AVNW Win Rate | 58% | 33% | 50% | 33% | 50% | 50% | |
| Peers Win Rate | 67% | 33% | 42% | 83% | 83% | 100% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| AVNW Max Drawdown | -2% | -23% | -19% | -58% | -10% | -8% | |
| Peers Max Drawdown | -8% | -49% | -21% | -3% | -37% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CIEN. See AVNW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/10/2026 (YTD)
How Low Can It Go
| Event | AVNW | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -40.8% | -25.4% |
| % Gain to Breakeven | 69.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.7% | -33.9% |
| % Gain to Breakeven | 98.6% | 51.3% |
| Time to Breakeven | 64 days | 148 days |
| 2018 Correction | ||
| % Loss | -47.7% | -19.8% |
| % Gain to Breakeven | 91.2% | 24.7% |
| Time to Breakeven | 689 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -86.0% | -56.8% |
| % Gain to Breakeven | 615.2% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to CIEN
In The Past
Aviat Networks's stock fell -40.8% during the 2022 Inflation Shock from a high on 4/6/2021. A -40.8% loss requires a 69.0% gain to breakeven.
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About Aviat Networks (AVNW)
Aviat Networks, Inc. provides wireless transport solutions worldwide. It offers a comprehensive suite of products and localized professional and support services enabling customers to simplify their networks and lives. The company's products and solutions include wireless transmission systems for microwave and millimeter wave networking applications. It serves communications service providers and private network operators, including state/local government, utility, federal government, and defense organizations. The company markets its products through a direct sales, service, and support organization; indirect sales channels comprising dealers, resellers, and sales representatives; and through online. Aviat Networks, Inc. was incorporated in 2006 and is headquartered in Austin, Texas.
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- The Cisco for wireless network backbones.
- A specialized Motorola Solutions for critical wireless infrastructure.
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- Wireless Transmission Systems: These systems facilitate microwave and millimeter wave networking for various wireless transport applications.
- Professional and Support Services: These services enable customers to simplify their networks through expert deployment, maintenance, and ongoing assistance for Aviat's solutions.
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Aviat Networks (AVNW) sells primarily to other companies and organizations.
Its major customers fall into the following categories:
- Communications service providers
- Private network operators, which include:
- State/local government organizations
- Utility companies
- Federal government organizations
- Defense organizations
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- Hon Hai Precision Industry Co., Ltd. (2317.TW)
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Peter Smith President & Chief Executive OfficerMr. Smith was appointed President and Chief Executive Officer of Aviat Networks in January 2020. He has over 25 years of leadership experience in business management. Prior to joining Aviat, Mr. Smith served as Senior Vice President, US Windows and Canada for Jeld-Wen. He also held the role of President of Polypore International's Transportation and Industrial segment, where he helped prepare the public company for sale to the Asahi Kasei Group. Earlier, he was Chief Executive Officer and a director of Voltaix Inc. until its sale to Air Liquide. His career also includes executive leadership positions at Fortune 100 and Fortune 500 companies such as Cooper Industries, Dover Knowles Electronics, and Honeywell Specialty Materials. Mr. Smith previously served on the board of Soleras Advanced Coatings.
Andrew C. Schmidt Senior Vice President and Chief Financial OfficerMr. Schmidt was appointed Senior Vice President and Chief Financial Officer of Aviat Networks, effective December 3, 2025. He brings over 25 years of senior financial leadership, including more than 20 years as a public company CFO. His prior experience includes serving as CFO of Sientra, which completed a sale in 2024. He also held CFO positions at Iteris from 2015 to 2020 and Smith Micro Software. His background in public safety and software aligns with Aviat's strategic growth initiatives.
Gary Croke Senior Vice President, Product and InnovationMr. Croke is responsible for Aviat's global marketing, encompassing corporate and strategic marketing functions, as well as product line management. He leads the company's global product and marketing strategy, ensuring successful company-wide implementation. His team's primary focus is on achieving business growth through the definition and launch of new solutions that deliver economic value to customers.
Erin Boase General Counsel, Vice President Legal AffairsMs. Boase serves as General Counsel and Vice President of Legal Affairs for Aviat Networks.
Spencer Stoakley Chief Human Resources OfficerMs. Stoakley is responsible for all human resources operations, employee engagement, and recruitment at Aviat Networks. Before joining Aviat, she worked as a Senior HR Solutions consultant through Enspira, an HR Consulting Firm, where she supported high-growth clients in developing and implementing HR programs, including organizational leveling, employee career pathing, and organizational design.
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Key Risks to Aviat Networks (AVNW)
- Risk of Technological Disruption and Obsolescence: Aviat Networks specializes in wireless transport solutions utilizing microwave and millimeter wave networking applications. The rapid evolution of telecommunications technology, including advancements in fiber optics, alternative wireless technologies (such as enhanced satellite broadband or next-generation cellular backhaul solutions), or other emerging infrastructure methods, poses a risk of technological obsolescence. If these alternative technologies become more cost-effective, efficient, or widely adopted, it could reduce demand for Aviat Networks' core products, requiring substantial investment in research and development to maintain competitive relevance.
- Intense Competition and Pricing Pressure: The market for wireless transport solutions is characterized by intense competition from both established global players and regional specialized vendors. This competitive landscape can lead to pricing pressures, demands for increased product features and performance, and reduced profit margins. Aviat Networks must continually innovate and differentiate its offerings to compete effectively, which can strain resources and impact financial performance.
- Dependency on Capital Expenditure Cycles and Government Spending: Aviat Networks' customer base largely consists of communications service providers and private network operators, including state/local government, utility, federal government, and defense organizations. Consequently, the company's revenue and financial performance are significantly influenced by the capital expenditure cycles of these service providers and the budgetary allocations and spending priorities of government and defense entities. Economic downturns, shifts in investment strategies, or cuts in government spending could lead to reduced demand for Aviat Networks' products and services.
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The clear emerging threat for Aviat Networks is the increasing deployment and capability of Low Earth Orbit (LEO) satellite constellations (e.g., Starlink, OneWeb). These satellite networks are becoming a viable alternative for high-bandwidth, low-latency backhaul and connectivity in remote or challenging geographical areas. This directly competes with Aviat's core business of providing terrestrial wireless transmission systems, such as microwave and millimeter wave links, to communications service providers and private network operators who need to connect sites where fiber optics are not feasible or cost-effective.
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Aviat Networks (AVNW) operates in a total addressable market estimated at $11 billion globally. This market encompasses private networks, mobile service providers, and rural broadband network operators. The company provides wireless transport solutions, including wireless transmission systems for microwave and millimeter wave networking applications. Demand for these solutions is driven by factors such as 5G deployments, increasing data consumption, and the need for broadband in rural areas.AI Analysis | Feedback
Aviat Networks (AVNW) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market opportunities:
- Growth in Private Networks: The company is experiencing strong demand and growth within its private network segment, particularly in North America. This area has been a significant contributor to recent revenue increases and is expected to continue expanding.
- Expansion in 5G Infrastructure and Solutions: Aviat Networks is strategically positioned to benefit from the global 5G upgrade cycle, with a focus on providing wireless transport solutions for 5G deployments. The microwave radio market for global 5G transport is projected for substantial growth, presenting significant opportunities for the company.
- Participation in Rural Broadband Initiatives: Aviat Networks is targeting U.S. government funding programs, such as the $42.5 billion Broadband Equity Access and Deployment (BEAD) Program, for rural broadband expansion. The company anticipates material revenue contributions from this program, with a positive impact expected in fiscal year 2027.
- Launch and Growth of New Products and Solutions: New product introductions, including the Aprisa LTE 5G router designed for public safety and industrial applications, and the Multi-Dwelling Unit (MDU) solution which recently secured an initial purchase order from a U.S. Tier 1 operator, are expected to be significant revenue drivers. Material revenue from the cellular router business is specifically anticipated in fiscal year 2027.
- Synergies from Strategic Acquisitions: Aviat Networks has expanded its product portfolio and total addressable market through strategic acquisitions, such as 4RF and NEC's Pasolink microwave business. The integration of these technologies is enabling the creation of new high-value solutions, contributing to overall revenue growth.
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Share Repurchases
- In November 2021, Aviat Networks authorized a new stock repurchase program of up to $10 million, which followed the exhaustion of a previous $7.5 million program.
- Aviat Networks did not repurchase any shares of its common stock during the fourth quarter of fiscal 2025.
- As of February 3, 2026, management indicated that the company intends to resume share repurchases in the near future.
Share Issuance
- An additional 800,000 shares were approved under the 2018 Incentive Plan during the fiscal 2025 Annual General Meeting.
- The number of outstanding common shares increased from 11.2 million as of October 31, 2021, to 12,799,307 as of September 9, 2025.
- In late 2025 and early 2026, the CEO exercised stock options to acquire shares, and a director was granted Restricted Stock Units (RSUs).
Outbound Investments
- Aviat Networks completed the acquisition of Redline Communications in April 2022, expanding its access solutions portfolio.
- In December 2023, the company acquired NEC's microwave business, known as Pasolink.
- Aviat Networks acquired 4RF in July 2024, enhancing its portfolio with industrial SCADA and cellular router offerings.
Capital Expenditures
- Capital expenditures growth for fiscal years ending July 2021 to 2025 averaged -91.5%, with a median growth of 37.1%.
- The latest twelve months capital expenditure as of June 7, 2024, was $0.47 million, representing a 93% decrease since 2018.
- Future capital expenditures are anticipated to be driven by demand from government agencies, energy firms, and Tier-1 mobile operators in the U.S., with further impact expected from the BEAD government program in the latter half of calendar year 2026.
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| 03312026 | PANW | Palo Alto Networks | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03312026 | ALKT | Alkami Technology | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03272026 | DBX | Dropbox | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 2.6% | 2.6% | 0.0% |
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| 03272026 | PTC | PTC | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 259.48 |
| Mkt Cap | 35.3 |
| Rev LTM | 2,786 |
| Op Inc LTM | 226 |
| FCF LTM | 379 |
| FCF 3Y Avg | 264 |
| CFO LTM | 477 |
| CFO 3Y Avg | 340 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 14.7% |
| Rev Chg 3Y Avg | 11.3% |
| Rev Chg Q | 13.7% |
| QoQ Delta Rev Chg LTM | 3.0% |
| Op Mgn LTM | 7.8% |
| Op Mgn 3Y Avg | 6.1% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 11.8% |
| CFO/Rev 3Y Avg | 9.4% |
| FCF/Rev LTM | 9.0% |
| FCF/Rev 3Y Avg | 6.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 35.3 |
| P/S | 7.2 |
| P/EBIT | 102.6 |
| P/E | 163.4 |
| P/CFO | 43.7 |
| Total Yield | 2.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.1% |
| D/E | 0.2 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 18.2% |
| 3M Rtn | 59.0% |
| 6M Rtn | 111.5% |
| 12M Rtn | 386.8% |
| 3Y Rtn | 411.8% |
| 1M Excs Rtn | 14.7% |
| 3M Excs Rtn | 63.7% |
| 6M Excs Rtn | 103.5% |
| 12M Excs Rtn | 390.4% |
| 3Y Excs Rtn | 341.9% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $21.99 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 02/07/1991 | |
| Distance from 52W High | -17.8% | |
| 50 Days | 200 Days | |
| DMA Price | $24.25 | $22.98 |
| DMA Trend | up | up |
| Distance from DMA | -9.3% | -4.3% |
| 3M | 1YR | |
| Volatility | 52.8% | 44.0% |
| Downside Capture | 0.57 | 0.81 |
| Upside Capture | 185.87 | 145.69 |
| Correlation (SPY) | 38.5% | 41.4% |
AVNW Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.98 | 1.48 | 1.67 | 1.59 | 1.22 | 1.00 |
| Up Beta | -0.99 | 0.82 | 1.10 | 1.34 | 0.99 | 0.75 |
| Down Beta | 3.16 | 3.10 | 2.57 | 2.55 | 1.34 | 1.20 |
| Up Capture | 248% | 181% | 211% | 143% | 174% | 66% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 11 | 20 | 35 | 71 | 137 | 364 |
| Down Capture | 147% | 56% | 92% | 111% | 122% | 105% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 11 | 22 | 28 | 55 | 113 | 382 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNW | |
|---|---|---|---|---|
| AVNW | 36.7% | 45.4% | 0.82 | - |
| Sector ETF (XLK) | 59.7% | 25.3% | 1.80 | 41.8% |
| Equity (SPY) | 31.2% | 17.3% | 1.47 | 49.3% |
| Gold (GLD) | 60.1% | 27.8% | 1.69 | 2.3% |
| Commodities (DBC) | 29.8% | 16.6% | 1.58 | 5.5% |
| Real Estate (VNQ) | 21.3% | 15.2% | 1.07 | 35.0% |
| Bitcoin (BTCUSD) | -4.3% | 43.7% | 0.02 | 26.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNW | |
|---|---|---|---|---|
| AVNW | -11.8% | 51.5% | -0.05 | - |
| Sector ETF (XLK) | 16.5% | 24.7% | 0.60 | 33.5% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 35.8% |
| Gold (GLD) | 22.1% | 17.8% | 1.02 | 6.0% |
| Commodities (DBC) | 11.8% | 18.8% | 0.52 | 10.2% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 31.6% |
| Bitcoin (BTCUSD) | 4.3% | 56.5% | 0.30 | 16.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNW | |
|---|---|---|---|---|
| AVNW | 18.3% | 55.3% | 0.53 | - |
| Sector ETF (XLK) | 21.7% | 24.3% | 0.82 | 28.6% |
| Equity (SPY) | 13.8% | 17.9% | 0.66 | 30.8% |
| Gold (GLD) | 14.2% | 15.9% | 0.74 | 4.4% |
| Commodities (DBC) | 8.6% | 17.6% | 0.41 | 13.4% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.22 | 25.4% |
| Bitcoin (BTCUSD) | 67.6% | 66.9% | 1.07 | 11.2% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/3/2026 | 14.0% | 16.3% | 14.6% |
| 9/10/2025 | 12.7% | 3.5% | -1.6% |
| 5/6/2025 | 4.6% | 5.8% | 10.3% |
| 2/4/2025 | 28.2% | 11.7% | 0.5% |
| 10/4/2024 | 17.5% | 17.6% | 3.9% |
| 5/1/2024 | -16.4% | -8.0% | -9.0% |
| 2/6/2024 | 19.2% | 9.8% | 18.8% |
| 11/1/2023 | 15.6% | 12.1% | 18.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 14 |
| # Negative | 7 | 8 | 8 |
| Median Positive | 15.6% | 11.9% | 12.9% |
| Median Negative | -11.7% | -7.5% | -8.0% |
| Max Positive | 31.4% | 36.7% | 92.4% |
| Max Negative | -16.7% | -17.1% | -13.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/03/2026 | 10-Q |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 09/10/2025 | 10-K |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/04/2025 | 10-Q |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 10/04/2024 | 10-K |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/06/2024 | 10-Q |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/30/2023 | 10-K |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/01/2023 | 10-Q |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 09/14/2022 | 10-K |
| 03/31/2022 | 05/04/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q2 2026 Earnings Reported 2/3/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 440.00 Mil | 450.00 Mil | 460.00 Mil | 0 | Affirmed | Guidance: 450.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 45.00 Mil | 50.00 Mil | 55.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 440.00 Mil | 450.00 Mil | 460.00 Mil | 0 | Affirmed | Guidance: 450.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 45.00 Mil | 50.00 Mil | 55.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Taten, Bruce M | Direct | Sell | 11122025 | 23.39 | 3,268 | 76,439 | 476,945 | Form | |
| 2 | Smith, Pete A | President and CEO | Direct | Sell | 11122025 | 23.39 | 5,350 | 125,136 | 8,173,565 | Form |
| 3 | Croke, Gary | SVP of Product and Innovation | Direct | Sell | 9032025 | 22.41 | 6,742 | 151,090 | 1,012,027 | Form |
| 4 | Boase, Erin | VP Legal Affairs | Direct | Sell | 7072025 | 25.00 | 5,634 | 140,850 | 557,250 | Form |
| 5 | Boase, Erin | VP Legal Affairs | Direct | Sell | 7022025 | 25.00 | 200 | 5,000 | 698,100 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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