Vistance Networks (VISN)


Market Price (10/2/2026): $6.12 | Market Cap: $1.4 BilSector: Information Technology | Industry: Communications Equipment

Vistance Networks (VISN)


Market Price (10/2/2026): $6.12
Market Cap: $1.4 Bil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity. Themes include Specialized Private 5G Network Solutions.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%

Key risks
VISN key risks include [1] successfully executing its operational transition and establishing a new brand identity following its major divestiture, Show more.

0 Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity. Themes include Specialized Private 5G Network Solutions.
1 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
2 Key risks
VISN key risks include [1] successfully executing its operational transition and establishing a new brand identity following its major divestiture, Show more.

VISN in ETFs

Weight = VISN's share of each fund

VTI0.00%
NUSC0.10%
FNDA0.09%
VTWO0.04%
SCHA0.04%
DFAS0.03%
VGT0.02%
DFAC0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

Vistance Networks (VISN) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Vistance Networks' fiscal Q2 2026 earnings, reported on August 6, 2026, significantly missed analyst expectations, with an EPS of $0.12 against a Zacks Consensus Estimate of $0.28, representing a 57.14% negative surprise. This financial underperformance, partly attributed to challenges in license sales and memory costs, led to a substantial decline of 18.2% in VISN shares the day following the announcement. Furthermore, the company trimmed its fiscal year 2026 adjusted EBITDA guidance to $200-225 million, indicating ongoing operational pressures.

2. The completion of the RUCKUS reporting segment sale on July 1, 2026, and subsequent analyst downgrades created uncertainty regarding Vistance Networks' future growth trajectory. While the sale enabled a special cash distribution of $5.00 per share, analysts like Zacks Research downgraded the stock from "strong-buy" to "hold" on June 30, 2026, and Seeking Alpha downgraded it to "Hold" on July 11, 2026, citing a "clouded outlook" and the removal of a "key data center demand tailwind" post-divestiture. This sentiment was reinforced by a Weiss Ratings downgrade to "hold (c)" on August 17, 2026, reflecting a cautious outlook despite the company's strategic transformation.

Show more
Updated on 10/1/2026

Vistance Networks (VISN) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Vistance Networks' fiscal Q2 2026 earnings, reported on August 6, 2026, significantly missed analyst expectations, with an EPS of $0.12 against a Zacks Consensus Estimate of $0.28, representing a 57.14% negative surprise. This financial underperformance, partly attributed to challenges in license sales and memory costs, led to a substantial decline of 18.2% in VISN shares the day following the announcement. Furthermore, the company trimmed its fiscal year 2026 adjusted EBITDA guidance to $200-225 million, indicating ongoing operational pressures.

2. The completion of the RUCKUS reporting segment sale on July 1, 2026, and subsequent analyst downgrades created uncertainty regarding Vistance Networks' future growth trajectory. While the sale enabled a special cash distribution of $5.00 per share, analysts like Zacks Research downgraded the stock from "strong-buy" to "hold" on June 30, 2026, and Seeking Alpha downgraded it to "Hold" on July 11, 2026, citing a "clouded outlook" and the removal of a "key data center demand tailwind" post-divestiture. This sentiment was reinforced by a Weiss Ratings downgrade to "hold (c)" on August 17, 2026, reflecting a cautious outlook despite the company's strategic transformation.

3. Vistance Networks' stock performance was negatively impacted by a broader technology sector downturn, driven by macroeconomic factors during fiscal Q3 2026. Despite some positive company-specific news regarding its Aurora Networks unit, VISN shares, along with the wider market, experienced a selloff. This broader market pressure was influenced by surging oil prices, rising Treasury yields, and a general rate-driven selloff affecting the S&P 500 and Nasdaq indices.

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Stock Movement Drivers

Fundamental Drivers

The -15.4% change in VISN stock from 6/30/2026 to 10/1/2026 was primarily driven by a -17.9% change in the company's P/E Multiple.
(LTM values as of)630202610012026Change
Stock Price ($)7.296.16-15.4%
Change Contribution By: 
Total Revenues ($ Mil)227223-2.0%
Net Income Margin (%)3084.4%3265.0%5.9%
P/E Multiple0.20.2-17.9%
Shares Outstanding (Mil)225227-0.8%
Cumulative Contribution-15.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/1/2026
ReturnCorrelation
VISN-15.4% 
Market (SPY)2.3%26.5%
Sector (XLK)3.8%39.6%

Fundamental Drivers

The 157.2% change in VISN stock from 3/31/2026 to 10/1/2026 was primarily driven by a 105.2% change in the company's Net Income Margin (%).
(LTM values as of)331202610012026Change
Stock Price ($)2.406.16157.2%
Change Contribution By: 
Total Revenues ($ Mil)14422355.2%
Net Income Margin (%)1591.4%3265.0%105.2%
P/E Multiple0.20.2-17.4%
Shares Outstanding (Mil)222227-2.2%
Cumulative Contribution157.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/1/2026
ReturnCorrelation
VISN157.2% 
Market (SPY)17.8%21.2%
Sector (XLK)49.0%15.8%

Fundamental Drivers

The 202.3% change in VISN stock from 9/30/2025 to 10/1/2026 was primarily driven by a 480.1% change in the company's Net Income Margin (%).
(LTM values as of)930202510012026Change
Stock Price ($)2.046.16202.3%
Change Contribution By: 
Total Revenues ($ Mil)14022358.7%
Net Income Margin (%)562.8%3265.0%480.1%
P/E Multiple0.60.2-65.8%
Shares Outstanding (Mil)218227-3.9%
Cumulative Contribution202.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/1/2026
ReturnCorrelation
VISN202.3% 
Market (SPY)15.6%23.4%
Sector (XLK)40.9%20.2%

Fundamental Drivers

The 1293.0% change in VISN stock from 9/30/2023 to 10/1/2026 was primarily driven by a 30343.9% change in the company's P/S Multiple.
(LTM values as of)930202310012026Change
Stock Price ($)0.446.161293.0%
Change Contribution By: 
Total Revenues ($ Mil)4,513223-95.1%
P/S Multiple0.06.330343.9%
Shares Outstanding (Mil)210227-7.3%
Cumulative Contribution1293.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/1/2026
ReturnCorrelation
VISN1293.0% 
Market (SPY)84.9%30.6%
Sector (XLK)145.6%26.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
VISN Return-18%-33%-62%85%248%149%237%
Peers Return47%-15%11%73%62%64%536%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
VISN Win Rate50%42%42%58%50%33% 
Peers Win Rate68%38%55%68%70%62% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
VISN Max Drawdown-57%-49%-85%-70%-52%-22% 
Peers Max Drawdown-19%-36%-29%-23%-40%-34% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CSCO, HPE, ANET, CIEN, UI.
[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 10/1/2026 (YTD)

How Low Can It Go

EventVISNS&P 500
2025 US Tariff Shock
  % Loss-44.7%-18.8%
  % Gain to Breakeven80.8%23.1%
  Time to Breakeven21 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-70.5%-9.5%
  % Gain to Breakeven238.5%10.5%
  Time to Breakeven314 days24 days
2023 SVB Regional Banking Crisis
  % Loss-53.6%-6.7%
  % Gain to Breakeven115.7%7.1%
  Time to Breakeven771 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.4%-24.5%
  % Gain to Breakeven94.0%32.4%
  Time to Breakeven62 days427 days
2020 COVID-19 Crash
  % Loss-60.2%-33.7%
  % Gain to Breakeven151.6%50.9%
  Time to Breakeven300 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-49.0%-19.2%
  % Gain to Breakeven96.0%23.8%
  Time to Breakeven2671 days105 days

Compare to CSCO, HPE, ANET, CIEN, UI

In The Past

Vistance Networks's stock fell -44.7% during the 2025 US Tariff Shock. Such a loss loss requires a 80.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventVISNS&P 500
2025 US Tariff Shock
  % Loss-44.7%-18.8%
  % Gain to Breakeven80.8%23.1%
  Time to Breakeven21 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-70.5%-9.5%
  % Gain to Breakeven238.5%10.5%
  Time to Breakeven314 days24 days
2023 SVB Regional Banking Crisis
  % Loss-53.6%-6.7%
  % Gain to Breakeven115.7%7.1%
  Time to Breakeven771 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.4%-24.5%
  % Gain to Breakeven94.0%32.4%
  Time to Breakeven62 days427 days
2020 COVID-19 Crash
  % Loss-60.2%-33.7%
  % Gain to Breakeven151.6%50.9%
  Time to Breakeven300 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-49.0%-19.2%
  % Gain to Breakeven96.0%23.8%
  Time to Breakeven2671 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-37.8%-12.2%
  % Gain to Breakeven60.7%13.9%
  Time to Breakeven113 days62 days
2014-2016 Oil Price Collapse
  % Loss-23.1%-6.8%
  % Gain to Breakeven30.1%7.3%
  Time to Breakeven19 days15 days

Compare to CSCO, HPE, ANET, CIEN, UI

In The Past

Vistance Networks's stock fell -44.7% during the 2025 US Tariff Shock. Such a loss loss requires a 80.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Vistance Networks (VISN)

CommScope Holding Company, Inc. provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market. The OWN segment provides base station antennas, radio frequency filters, tower connectivity, microwave antennas, metro cell products, cabinets, steel towers, accessories, Spectrum Access System, and Comsearch products to the macro and metro cell markets. The VCN segment offers Wi-Fi and switching, distributed antenna systems, licensed and unlicensed small cells, enterprise fiber, and copper infrastructures for campuses, venues, data centers, and buildings. The Home segment provides devices and related software, and management solutions that offer residential connectivity and services to subscribers, such as digital subscriber lines, cable modems, and telephony and data gateways; and set top boxes and software that support cable, satellite, and Internet protocol television content delivery, which include digital video recorders, high definition set top boxes, and hybrid set top devices. It offers its products and services through specialized resellers and distributors, satellite video distributors, and system integrators, as well as directly to customers in the United States, Europe, the Middle East, Africa, the Asia Pacific, the Caribbean, Latin America, and Canada. The company was formerly known as Cedar I Holding Company, Inc. and changed its name to CommScope Holding Company, Inc. in January 2011. CommScope Holding Company, Inc. was founded in 1976 and is headquartered in Hickory, North Carolina.

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Charles L. Treadway, President, Chief Executive Officer & Director

Charles L. Treadway was appointed CEO in October 2020. He has led the company through its transformation, including its name change from CommScope to Vistance Networks, which occurred on January 14, 2026.

Kyle D. Lorentzen, Executive Vice President and Chief Financial Officer

Kyle D. Lorentzen was named Executive Vice President and Chief Financial Officer in November 2021. Prior to this role, he served as Senior Vice President and Chief Transformation Officer from December 2020. Mr. Lorentzen previously held the position of CFO at Accudyne Industries from 2017 to 2020 and served as CFO and Executive Vice President of Express Energy Service from 2014 to 2017. Earlier in his career, he held various financial and managerial roles, including CEO of Constellium Ravenswood from 2011 to 2014.

Praveen Jonnala, Senior Vice President and Chief Information Officer

Praveen Jonnala serves as the Senior Vice President and Chief Information Officer for Vistance Networks.

Bart Giordano, Senior Vice President and President, RUCKUS Networks

Bart Giordano holds the title of Senior Vice President and President of RUCKUS Networks within Vistance Networks.

Krista Bowen, Senior Vice President, Chief Administrative Officer and General Counsel

Krista Bowen is the Senior Vice President, Chief Administrative Officer and General Counsel for Vistance Networks.

AI Analysis | Feedback

Vistance Networks (VISN) faces several key risks to its business operations.

The most significant risk stems from its **customer concentration and the volatile capital spending** in the communications industry. Following the sale of its Connectivity and Cable Solutions (CCS) division, Vistance Networks has a narrower focus, leading to increased customer concentration in its Access Network Solutions (ANS) segment. The top three customers in this division reportedly account for 40-45% of its revenue, making the company highly susceptible to any delays in their orders or reductions in spending. The company's performance is heavily dependent on third parties' capital expenditures for building, maintaining, or upgrading communication, data, and entertainment networks, which can be unpredictable and subject to sudden curtailments or deferrals.

Secondly, Vistance Networks is exposed to **intense competition and potential margin pressure** across its segments, particularly in the RUCKUS division. Competitors like Cisco, HPE, and Extreme Networks possess substantial resources, allowing them to engage in aggressive pricing strategies, such as price dumping, and offer bundled packages. This competitive environment can limit Vistance Networks' market share and exert pressure on its profit margins. Furthermore, price-sensitive competition for customer retention is expected to intensify, and U.S.-China trade relations also pose a risk to the company's performance.

Finally, the company exhibits **financial health concerns and market volatility**, compounded by operational challenges like component shortages. Vistance Networks has been flagged with a concerning debt-to-equity ratio and an Altman Z-Score that places it in a "distress zone," indicating a potential risk of bankruptcy within two years. The company has also been categorized as having poor financial strength based on its Beneish M-Score, suggesting possible financial manipulation. Operationally, Vistance Networks has experienced the negative impact of component shortages and rising memory chip prices, which were expected to result in a significant loss in EBITDA by 2026.

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Vistance Networks (symbol: VISN) operates primarily in two segments: RUCKUS Networks and Aurora Networks, following its rebranding and divestiture of other businesses in January 2026. Here are the addressable market sizes for Vistance Networks' main products and services: * Enterprise Wireless Local Area Network (WLAN) Market (RUCKUS Networks): The global enterprise WLAN market, which includes Wi-Fi, switching, and cloud-managed networking solutions, was valued at approximately $7.86 billion in 2025 and is projected to reach $8.37 billion in 2026, growing to $13.26 billion by 2034 with a compound annual growth rate (CAGR) of 5.90%. Another estimate placed the global market size at USD 13.66 billion in 2024, poised to grow to USD 91.95 billion by 2033, at a CAGR of 23.6% from 2026 to 2033. North America held the largest share of the global enterprise WLAN market, at 41.00% in 2025. * 5G Infrastructure and Network Equipment Market (Aurora Networks): The global 5G infrastructure market is calculated at USD 20.55 billion in 2025 and is predicted to increase to approximately USD 153.29 billion by 2035, expanding at a CAGR of 22.26% from 2026 to 2035. Asia Pacific dominated this market with a 45.82% share in 2025, and North America is projected to expand at the fastest CAGR during the forecast period. Separately, the global 5G network equipment market is projected to rise from US$ 26.37 billion in 2025 to US$ 101.82 billion by 2032, with a CAGR of 21.3%. North America is anticipated to account for approximately 32% of the total 5G network equipment revenue in 2025. * Wireless Broadband Access Market (Aurora Networks): The global wireless broadband access market is projected to reach a size of $50.0 billion to $60.0 billion by 2025, with an estimated CAGR of 10% to 12% through 2030. This growth is largely driven by 5G Fixed Wireless Access (FWA) and demand for rural connectivity. * Broadband Internet Access Services Market (Aurora Networks): The global broadband internet access services market was valued at USD 418.65 billion in 2023 and is predicted to reach USD 883.32 billion by the end of 2032, growing at a CAGR of 8.65%. Another report anticipates the global market size at USD 555.98 billion in 2025, expected to reach around USD 1,397.93 billion by 2035, at a CAGR of 9.66% from 2026 to 2035. The Asia Pacific region dominated the global broadband services market with a 30% revenue share in 2025.

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For Vistance Networks (symbol: VISN), formerly known as CommScope Holding Company, Inc., several key drivers are expected to fuel future revenue growth over the next two to three years following its recent rebranding and divestiture of the Connectivity and Cable Solutions (CCS) business. These drivers are primarily centered around a more focused portfolio and strategic investments in its core segments.

The expected drivers of future revenue growth for Vistance Networks (VISN) include:

  1. Strategic Focus on Core Segments (Aurora Networks and RUCKUS Networks): By divesting its CCS business, Vistance Networks aims to concentrate resources, research and development, and sales efforts on its remaining, more focused portfolio comprising Access Networks Solutions (rebranded as Aurora Networks) and RUCKUS Networks. This enhanced focus is expected to lead to more efficient operations and accelerated growth within these specialized areas.
  2. Increased Investment and Innovation in Fiber Access and Edge Networking: Vistance Networks plans to make targeted investments in innovation and growth areas, specifically in fiber access networks and edge networking solutions. This strategic allocation of capital is aimed at developing advanced solutions to meet evolving market demands and capture new revenue opportunities.
  3. Expansion and Enhanced Offerings in Campus and Enterprise Wi-Fi Solutions (RUCKUS Networks): RUCKUS Networks, a key segment of Vistance Networks, is positioned for growth by continuing to develop and offer Wi-Fi, switching, and cloud-managed platforms. Growth in enterprise, campus, and venue connectivity, driven by increasing demand for reliable and high-performance wireless networks, is anticipated to contribute significantly to revenue expansion.
  4. Specialization in Broadband Access Network Products (Aurora Networks): The rebranded Aurora Networks (formerly Access Networks Solutions) is focused on providing specialized access network solutions for service providers, including hybrid fiber-coaxial (HFC) and broadband network products. Continued demand for these essential broadband infrastructure components from telco and cable providers is expected to be a key revenue driver.

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Capital Allocation Decisions for Vistance Networks (VISN)

Share Repurchases

  • CommScope Holding Company, Inc. (now Vistance Networks) authorized a share repurchase program of up to $50 million of its common stock on May 1, 2025.

Share Issuance

  • Vistance Networks redeemed 100% of its Series A Convertible Preferred Stock for cash when its CCS sale closed in January 2026, simplifying its capital structure.
  • Dividends on the Series A Preferred Stock, originally issued in 2019, were paid in kind through December 31, 2023, totaling 162,085 shares of Series A Preferred Stock.

Outbound Investments

  • Vistance Networks completed the sale of its Connectivity and Cable Solutions (CCS) segment to Amphenol Corporation for approximately $10 billion (or $10.5 billion) in January 2026. The proceeds were used to repay all outstanding debt and redeem preferred equity, with a special cash distribution of at least $10 per share planned for shareholders by the end of April 2026.
  • In 2025, the company divested its Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit to Amphenol Corporation for $2.1 billion.
  • In June 2024, CommScope acquired Casa Systems' cable business assets for $45.1 million, which was integrated into its Access Network Solutions (ANS) segment to enhance virtual CMTS and passive optical network offerings.

Capital Expenditures

  • Vistance Networks (then CommScope) reported capital expenditures (additions to property, plant and equipment) of $25.3 million for the full year 2024 and $16.4 million in the third quarter of 2025.
  • The company projected an investment in working capital and capital expenditures exceeding $200 million for the remainder of 2025, driven by business growth.
  • In 2025, the company spent $283.5 million on research and development, supporting profitable growth, operational efficiency, and portfolio optimization.

Peer Outperformance in Communications Equipment

VISN has outperformed 71% of its 14 Communications Equipment peers over 5Y. Communications Equipment ranks 4th of 12 industries in Information Technology by median 5Y return.
Share of Communications Equipment constituents that VISN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
86%
of 14 industry peers · 192.7% return
3Y
93%
of 14 industry peers · 1260.4% return
5Y
71%
of 14 industry peers · 246.2% return
No Communications Equipment peer with a comparable growth profile has beaten VISN by more than 20pp over 5Y.
Median price return by industry across the Information Technology sector, ranked by 5Y. Communications Equipment is VISN's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Technology Hardware, Storage & Peripherals 9 124.2%200.8%405.9% STX 1191% · SMCI 1022% · DELL 1019%
Electronic Manufacturing Services 9 68.5%189.6%331.5% TTMI 899% · FLEX 742% · SANM 467%
Semiconductor Materials & Equipment 20 105.5%128.6%129.7% LRCX 528% · KLAC 528% · ONTO 331%
Communications Equipment ← 15 53.5%173.9%126.8% LITE 1125% · ANET 834% · CIEN 626%
Electronic Components 8 80.4%119.9%94.5% COHR 427% · GLW 392% · APH 380%
Technology Distributors 8 47.5%80.2%89.7% AVT 205% · SNX 173% · CNXN 116%
Semiconductors 32 58.2%91.3%81.0% MU 1483% · NVDA 1018% · AVGO 670%
Systems Software 14 1.0%75.3%75.7% PANW 389% · CRWD 327% · FTNT 200%
Electronic Equipment & Instruments 13 -5.3%52.3%30.9% PI 228% · KEYS 126% · OSIS 105%
Internet Services & Infrastructure 6 -4.3%37.9%18.3% DOCN 72% · VRSN 41% · GDDY 35%
Application Software 40 -18.5%7.3%-26.1% PLTR 681% · CDNS 129% · DDOG 91%
IT Consulting & Other Services 9 -17.4%-30.1%-37.0% ADEA 187% · IBM 99% · CTSH -12%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

VISNCSCOHPEANETCIENUIMedian
NameVistance.Cisco Sy.Hewlett .Arista N.Ciena Ubiquiti  
Mkt Price-108.8664.88205.45381.44-157.16
Mkt Cap-430.086.7258.954.2-172.8
Rev LTM-63,32541,87110,5416,021-26,206
Op Inc LTM-16,0613,2844,547850-3,915
FCF LTM-12,7674,1565,155814-4,656
FCF 3Y Avg-12,0882,3673,943568-3,155
CFO LTM-14,1776,6945,3071,055-6,000
CFO 3Y Avg-13,0834,7774,027733-4,402

Growth & Margins

VISNCSCOHPEANETCIENUIMedian
NameVistance.Cisco Sy.Hewlett .Arista N.Ciena Ubiquiti  
Rev Chg LTM-11.8%26.6%32.6%32.6%-29.6%
Rev Chg 3Y Avg-3.8%12.8%26.2%13.5%-13.2%
Rev Chg Q-17.6%33.7%37.7%37.0%-35.4%
QoQ Delta Rev Chg LTM-4.2%7.9%8.6%8.1%-8.0%
Op Inc Chg LTM-28.4%61.4%32.6%234.7%-47.0%
Op Inc Chg 3Y Avg-2.7%12.7%33.8%68.9%-23.2%
Op Mgn LTM-25.4%7.8%43.1%14.1%-19.7%
Op Mgn 3Y Avg-23.8%7.3%42.5%8.5%-16.2%
QoQ Delta Op Mgn LTM-1.6%2.0%0.3%2.9%-1.8%
CFO/Rev LTM-22.4%16.0%50.3%17.5%-20.0%
CFO/Rev 3Y Avg-22.6%13.8%48.2%14.6%-18.6%
FCF/Rev LTM-20.2%9.9%48.9%13.5%-16.8%
FCF/Rev 3Y Avg-20.9%6.7%47.2%11.3%-16.1%

Valuation

VISNCSCOHPEANETCIENUIMedian
NameVistance.Cisco Sy.Hewlett .Arista N.Ciena Ubiquiti  
Mkt Cap-430.086.7258.954.2-172.8
P/S-6.82.124.69.0-7.9
P/Op Inc-26.826.456.963.7-41.9
P/EBIT-24.626.456.968.0-41.7
P/E-32.431.164.082.8-48.2
P/CFO-30.312.948.851.4-39.6
Total Yield-4.6%4.1%1.6%1.2%-2.8%
Dividend Yield-1.5%0.9%0.0%0.0%-0.4%
FCF Yield 3Y Avg-4.3%5.8%2.7%3.5%-3.9%
D/E-0.10.20.00.1-0.1
Net D/E-0.00.2-0.10.0-0.0

Returns

VISNCSCOHPEANETCIENUIMedian
NameVistance.Cisco Sy.Hewlett .Arista N.Ciena Ubiquiti  
1M Rtn--0.8%27.9%8.6%5.9%-7.2%
3M Rtn--3.0%57.8%28.4%-9.7%-12.7%
6M Rtn-38.3%165.1%62.2%-14.8%-50.2%
12M Rtn-61.6%164.9%37.6%151.4%-106.5%
3Y Rtn-116.6%300.2%337.6%708.8%-318.9%
1M Excs Rtn--1.3%27.4%8.1%5.4%-6.7%
3M Excs Rtn--5.5%55.3%26.0%-12.2%-10.2%
6M Excs Rtn-24.4%155.4%47.9%-24.9%-36.1%
12M Excs Rtn-47.8%154.2%26.3%147.1%-97.5%
3Y Excs Rtn-44.1%236.1%282.1%649.9%-259.1%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Aurora1,2338361,096  
RUCKUS699546768  
Corporate and other0000 
Access Network Solutions (ANS)   1,3361,405
Connectivity and Cable Solutions (CCS)   3,7813,054
Networking, Intelligent Cellular and Security Solutions (NICS)   672862
Outdoor Wireless Networks (OWN)    1,417
Total1,9321,3831,8645,7896,737


Operating Income by Segment
$ Mil20252024202320222015
Aurora252106217  
RUCKUS12831141  
Other-5    
Restructuring costs, net-20-37-29-42 
Depreciation-21-32-46-100 
Transaction, transformation and integration costs-30-63-27-35 
Equity-based compensation-30-20-31-50 
Corporate and other-87-113-182-121 
Amortization of intangible assets-138-165-227-400 
Acquisition accounting adjustment  -1-5 
Asset impairments  -472-1,120 
Access Network Solutions (ANS)   272 
Connectivity and Cable Solutions (CCS)   657 
Networking, Intelligent Cellular and Security Solutions (NICS)   13 
Patent claims and litigation settlements   -2 
Recovery of Russian accounts receivable   -3 
BNS    -132
Broadband    17
Enterprise    114
Wireless    183
Total48-292-660-935182


Assets by Segment
$ Mil20252024202320222021
Assets held for sale4,3245,196279  
Deferred income tax assets1,766432616507427
Aurora1,6291,689   
RUCKUS840886   
Cash and cash equivalents754404544398360
Divested business assets57    
Divested and other business assets 140   
Access Network Solutions (ANS)  1,9472,633 
Connectivity and Cable Solutions (CCS)  3,6084,264 
Corporate and other  114  
Networking, Intelligent Cellular and Security Solutions (NICS)  1,2721,338 
Outdoor Wireless Networks (OWN)  9941,1671,385
Home Networks (Home)   1,3791,478
Broadband    6,308
The Venue and Campus Networks    3,301
Total9,3718,7489,37211,68513,260


Price Behavior

Price Behavior
Market Price$6.16 
Market Cap ($ Bil)1.4 
First Trading Date10/25/2013 
Distance from 52W High-16.1% 
   50 Days200 Days
DMA Price$6.46$4.86
DMA Trendupdown
Distance from DMA-4.7%26.8%
 3M1YR
Volatility55.8%122.6%
Downside Capture243.93146.99
Upside Capture148.18249.78
Correlation (SPY)26.1%23.5%
VISN Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta-0.201.161.332.852.202.39
Up Beta-2.980.581.004.113.182.28
Down Beta1.44-1.79-0.520.961.222.26
Up Capture-13%127%138%523%545%8711%
Bmk +ve Days6162766132424
Stock +ve Days8192863129380
Down Capture9%246%238%149%128%112%
Bmk -ve Days16263760120328
Stock -ve Days13223560119356

[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 VISN
VISN203.7%122.4%1.27-
Sector ETF (XLK)41.1%26.5%1.2620.2%
Equity (SPY)15.7%13.0%0.8523.4%
Gold (GLD)7.7%29.6%0.2511.8%
Commodities (DBC)43.7%20.8%1.64-11.4%
Real Estate (VNQ)1.2%13.6%-0.1616.5%
Bitcoin (BTCUSD)-27.0%44.5%-0.5815.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VISN
VISN27.6%102.9%0.65-
Sector ETF (XLK)21.2%25.9%0.7331.1%
Equity (SPY)13.0%17.2%0.5734.3%
Gold (GLD)18.6%18.9%0.804.3%
Commodities (DBC)10.3%19.6%0.401.7%
Real Estate (VNQ)0.4%18.9%-0.0828.5%
Bitcoin (BTCUSD)13.2%52.3%0.4316.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VISN
VISN4.3%81.0%0.38-
Sector ETF (XLK)24.8%25.0%0.9032.7%
Equity (SPY)15.3%17.9%0.7236.4%
Gold (GLD)11.6%16.4%0.583.8%
Commodities (DBC)8.2%18.1%0.379.3%
Real Estate (VNQ)4.4%20.7%0.1728.7%
Bitcoin (BTCUSD)63.9%66.2%1.0412.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity30.4 Mil
Short Interest: % Change Since 83120268.0%
Average Daily Volume6.9 Mil
Days-to-Cover Short Interest4.4 days
Basic Shares Quantity227.0 Mil
Short % of Basic Shares13.4%

Earnings Returns History

Updated 9/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2026-18.2%-6.2%-9.5%
4/8/20260.5%1.9%176.7%
10/30/20256.9%5.3%25.1%
8/4/202586.3%100.0%104.4%
5/1/202521.7%31.3%61.5%
2/26/202526.2%25.8%14.9%
11/7/2024-25.2%-35.7%-23.6%
8/8/202431.0%58.7%91.1%
...
SUMMARY STATS   
# Positive151313
# Negative81010
Median Positive5.7%5.3%25.3%
Median Negative-22.9%-20.6%-21.1%
Max Positive86.3%100.0%176.7%
Max Negative-37.0%-40.5%-33.3%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2026-18.2%-6.2%-9.5%
4/8/20260.5%1.9%176.7%
10/30/20256.9%5.3%25.1%
8/4/202586.3%100.0%104.4%
5/1/202521.7%31.3%61.5%
2/26/202526.2%25.8%14.9%
11/7/2024-25.2%-35.7%-23.6%
8/8/202431.0%58.7%91.1%
5/9/20245.7%9.6%54.3%
2/29/2024-37.0%-40.5%-29.2%
11/9/20230.0%7.0%17.2%
8/3/2023-26.2%-23.3%-24.4%
5/4/20231.1%-10.1%-3.1%
2/23/202316.6%-3.5%-18.9%
11/3/2022-26.0%-32.1%-33.3%
8/4/20221.6%4.0%24.1%
5/5/202211.8%2.4%23.1%
2/17/20223.8%5.1%-8.5%
11/4/2021-15.9%-18.4%-12.7%
8/5/2021-20.7%-22.8%-23.4%
5/6/20213.2%4.8%25.3%
2/17/2021-12.6%-12.8%6.1%
11/5/20203.7%1.3%34.5%
SUMMARY STATS   
# Positive151313
# Negative81010
Median Positive5.7%5.3%25.3%
Median Negative-22.9%-20.6%-21.1%
Max Positive86.3%100.0%176.7%
Max Negative-37.0%-40.5%-33.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202604/30/202610-Q
12/31/202502/26/202610-K
09/30/202510/30/202510-Q
06/30/202508/04/202510-Q
03/31/202505/01/202510-Q
12/31/202402/26/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/29/202410-K
09/30/202311/09/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/23/202310-K
09/30/202211/03/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202604/30/202610-Q
12/31/202502/26/202610-K
09/30/202510/30/202510-Q
06/30/202508/04/202510-Q
03/31/202505/01/202510-Q
12/31/202402/26/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/29/202410-K
09/30/202311/09/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/23/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q
12/31/202102/17/202210-K
09/30/202111/04/202110-Q
06/30/202108/05/202110-Q
03/31/202105/06/202110-Q
12/31/202002/17/202110-K
09/30/202011/05/202010-Q
06/30/202008/06/202010-Q
03/31/202005/07/202010-Q
12/31/201902/20/202010-K
09/30/201911/07/201910-Q

Recent Forward Guidance

Updated 10/1/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 CashReported700.00 Mil725.00 Mil750.00 Mil   
2026 Adjusted EBITDAReported200.00 Mil212.50 Mil225.00 Mil   
2027 Tax RefundReported 160.00 Mil    


Prior: Q1 2026 Earnings Reported 4/8/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 DividendsReported 10    

Q3 2025 Earnings Reported 10/30/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 Consolidated Adjusted EBITDAReported1.30 Bil1.32 Bil1.35 Bil12.8% RaisedGuidance: 1.18 Bil for 2025
2025 RemainCo Adjusted EBITDAReported350.00 Mil362.50 Mil375.00 Mil7.4% RaisedGuidance: 337.50 Mil for 2025

Insider Activity

Updated 9/4/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Krause, L William DirectSell90420266.2723,864149,556466,935Form
2Krause, L William DirectSell90120266.75176,1361,188,037663,512Form
3Gilstrap, Charles ASVP, Treasury, Tax & CAODirectBuy812202610.7510,000107,5003,250,983Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Krause, L William DirectSell90420266.2723,864149,556466,935Form
2Krause, L William DirectSell90120266.75176,1361,188,037663,512Form
3Gilstrap, Charles ASVP, Treasury, Tax & CAODirectBuy812202610.7510,000107,5003,250,983Form

Investor Activity (13F)

Updated Oct 2, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Monarch Alternative Capital LP$185.8 Mil31.6%7Hold13F
Carronade Capital Management, LP$139.2 Mil10.1%25ADD +8551.1%13F
Newtyn Management, LLC$68.5 Mil7.3%33ADD +69.6%13F
Redwood Capital Management, LLC$24.9 Mil3.7%22New13F
Diameter Capital Partners LP$14.6 Mil2.8%20New13F
Hawk Ridge Capital Management LP$17.2 Mil0.6%48New13F
PointState Capital LP$5.3 Mil0.1%44New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Redwood Capital Management, LLC$24.9 Mil3.7%22New13F
Hawk Ridge Capital Management LP$17.2 Mil0.6%48New13F
Diameter Capital Partners LP$14.6 Mil2.8%20New13F
PointState Capital LP$5.3 Mil0.1%44New13F
Carronade Capital Management, LP$139.2 Mil10.1%25ADD +8551.1%13F
Newtyn Management, LLC$68.5 Mil7.3%33ADD +69.6%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Monarch Alternative Capital LP$185.8 Mil31.6%7Hold13F
Carronade Capital Management, LP$139.2 Mil10.1%25ADD +8551.1%13F
Newtyn Management, LLC$68.5 Mil7.3%33ADD +69.6%13F
Redwood Capital Management, LLC$24.9 Mil3.7%22New13F
Hawk Ridge Capital Management LP$17.2 Mil0.6%48New13F
Diameter Capital Partners LP$14.6 Mil2.8%20New13F
PointState Capital LP$5.3 Mil0.1%44New13F
Core Cache Last Updated: 10/1/2026