#InvestorRelations--Vistance Networks, Inc. (NASDAQ: VISN), a global leading provider of intelligent network solutions, today reported results for the quarter ended March 31, 2026. Summary of Consol...
Autore: Business Wire
First Quarter Highlights
RICHARDSON, Texas: #InvestorRelations--Vistance Networks, Inc. (NASDAQ: VISN), a global leading provider of intelligent network solutions, today reported results for the quarter ended March 31, 2026.
Summary of Consolidated Results |
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| Q1 |
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| Q1 |
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| % Change |
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| 2026 |
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| 2025 |
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| YOY |
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| (in millions, except per share amounts) |
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Net sales |
| $ | 471.8 |
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| $ | 388.1 |
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| 21.6 | % |
GAAP income from continuing operations |
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| 231.7 |
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| 341.1 |
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| (32.1 | ) |
GAAP income from continuing operations per share |
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| 1.02 |
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| 1.50 |
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| (32.0 | ) |
Non-GAAP adjusted EBITDA (1) |
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| 87.3 |
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| 47.2 |
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| 85.0 |
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Core non-GAAP adjusted EBITDA (1) (2) |
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| 87.3 |
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| 63.1 |
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| 38.4 |
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Non-GAAP adjusted net income per diluted share (1) |
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| 0.34 |
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| 0.11 |
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| 209.1 |
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* Core financial measures reflect the results of the RUCKUS and Aurora Networks (Aurora) segments, in the aggregate, and exclude general corporate costs that were previously allocated to the Connectivity and Cable Solutions (CCS) segment, Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit, since these costs were not directly attributable to these discontinued operations. See the segment comparison tables below showing the aggregation of the Core financial measures. |
(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below. |
(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations. |
“This morning, we announced we signed a definitive agreement to sell our RUCKUS Networks business to Belden in an all-cash transaction for $1.846 billion. We believe this transaction continues to unlock equity value for our shareholders, including further cash distributions. Belden is an excellent home for the RUCKUS business, both for our customers and employees. This transaction allows us to focus on value creation in our Aurora business. With an unlevered balance sheet, we have significant financial flexibility to further invest in the Aurora business, including evaluating accretive acquisitions. We believe this transaction coupled with our strong first quarter results, positions Vistance Networks for continued equity value improvement. We are pleased with our strong first quarter results. Vistance Networks reported net sales of $472 million, an increase of 22% from the prior year, and delivered Core adjusted EBITDA of $87 million, an improvement of 38% year-over-year, supported by growth in both segments,” said Chuck Treadway, President and Chief Executive Officer.
“With the closing of the CCS transaction in the first quarter and the subsequent distribution of excess cash resulting from that transaction, Vistance Networks has returned significant value to its shareholders. The RUCKUS transaction will continue this momentum. Our decision to not put leverage on the business after the CCS transaction has created financial flexibility as we focus on the Aurora business. The Aurora business had a strong first quarter with revenue and adjusted EBITDA up 33% and 32%, respectively. We expect the Aurora standalone business to deliver between $225 and $250 million of adjusted EBITDA in 2026,” said Kyle Lorentzen, Chief Financial Officer.
As previously reported, on January 9, 2026, the Company completed the sale of the CCS segment to Amphenol Corporation and used the approximate $10 billion of net proceeds to pay all of its outstanding debt and redeem all of the Series A Convertible Preferred Stock. The Company distributed the excess cash to shareholders, as a special distribution of $10 per share, on April 27, 2026. As a result of the CCS sale, unless otherwise noted, these financial results relate to Vistance Networks’ continuing operations based on the two remaining reporting segments: RUCKUS and Aurora. For all periods presented, amounts have been recast to reflect these changes.
First Quarter Results and Comparisons
Continuing operations net sales in the first quarter of 2026 increased 21.6% year-over-year to $471.8 million due to higher net sales in both the Aurora and RUCKUS segments. Net sales increased across all regions, except the Caribbean and Latin America (CALA) region and Canada.
Income from continuing operations of $231.7 million, or $1.02 per share, in the first quarter of 2026, decreased compared to the same prior year period’s income from continuing operations of $341.1 million, or $1.50 per share. Non-GAAP adjusted net income for the first quarter of 2026 was $80.1 million, or $0.34 per share, compared to $30.6 million, or $0.11 per share, in the same prior year period.
Core non-GAAP adjusted EBITDA increased 38.4% to $87.3 million in the first quarter of 2026 compared to the same prior year period. Core non-GAAP adjusted EBITDA as a percentage of net sales increased to 18.5% in the first quarter of 2026 compared to 16.3% in the same prior year period. Non-GAAP adjusted EBITDA increased 85.0% to $87.3 million in the first quarter of 2026 compared to the same prior year period. Non-GAAP adjusted EBITDA as a percentage of net sales increased to 18.5% in the first quarter of 2026 compared to 12.2% in the same prior year period.
First Quarter Comparisons
Sales by Region
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| % Change | ||||||||
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| Q1 2026 |
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| Q1 2025 |
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| YOY | |||||
United States |
| $ | 327.7 |
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| $ | 264.1 |
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| 24.1 |
| % |
Europe, Middle East and Africa |
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| 72.3 |
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| 53.0 |
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| 36.4 |
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Asia Pacific |
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| 42.8 |
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| 28.4 |
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| 50.7 |
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Caribbean and Latin America |
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| 14.4 |
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| 19.0 |
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| (24.2 | ) |
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Canada |
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| 14.6 |
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| 23.6 |
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| (38.1 | ) |
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Total net sales |
| $ | 471.8 |
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| $ | 388.1 |
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| 21.6 |
| % |
Segment Net Sales
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| % Change | |||||
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| Q1 2026 |
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| Q1 2025 |
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| YOY | |||||
RUCKUS |
| $ | 173.4 |
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| $ | 163.1 |
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| 6.3 |
| % |
Aurora |
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| 298.4 |
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| 225.0 |
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| 32.6 |
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Total net sales |
| $ | 471.8 |
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| $ | 388.1 |
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| 21.6 |
| % |
Segment Operating Income (Loss)
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| % Change | ||||||
| Q1 2026 |
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| Q1 2025 |
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| YOY | ||||||
RUCKUS |
| $ | 8.7 |
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| $ | 7.0 |
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| 24.3 | % | |
Aurora |
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| 15.0 |
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| (1.8 | ) |
| NM | |||
Core operating income (1) |
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| 23.7 |
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| 5.2 |
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| 355.8 | ||
Corporate and other (2) |
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| - |
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| (21.5 | ) |
| NM |
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Total operating income (loss) |
| $ | 23.7 |
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| $ | (16.3 | ) |
| NM |
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Segment Adjusted EBITDA (See “Non-GAAP Financial Measures,” below)
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| % Change | |||||
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| Q1 2026 |
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| Q1 2025 |
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| YOY | |||||
RUCKUS |
| $ | 37.0 |
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| $ | 24.9 |
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| 48.6 |
| % |
Aurora |
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| 50.3 |
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| 38.2 |
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| 31.7 |
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Core adjusted EBITDA (1) |
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| 87.3 |
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| 63.1 |
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| 38.4 |
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Corporate and other (2) |
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| - |
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| (15.9 | ) |
| NM |
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Total segment adjusted EBITDA |
| $ | 87.3 |
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| $ | 47.2 |
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| 85.0 |
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NM – Not meaningful | |||||||||||||
(1) Core financial measures reflect the results of the RUCKUS and Aurora segments, in the aggregate, and exclude general corporate costs that were previously allocated to the CCS segment, OWN segment and DAS business unit, since these costs were not directly attributable to these discontinued operations. (2) The corporate and other line item above primarily reflects general corporate costs that were previously allocated to the CCS segment, OWN segment and DAS business unit. These indirect expenses have been classified as continuing operations, since the costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2025, the corporate and other costs related to the OWN segment and DAS business unit have been reallocated to our remaining segments and partially offset by income from the Amphenol TSA. The corporate and other costs related to the CCS segment have been reallocated to our remaining segments beginning in the first quarter of 2026 and partially offset by income from the Amphenol TSA. | |||||||||||||
Cash Flow and Balance Sheet
Stock Repurchase Plan
In addition, the Company announced that its Board of Directors has approved a share repurchase program authorizing the Company to repurchase up to an aggregate of $100 million of its outstanding shares of common stock. The Company may repurchase shares in the open market, in privately negotiated transactions or in such other manners as determined by the Company, including through repurchase plans complying with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The method, timing and amount of any repurchases made under the share repurchase program will depend on a variety of factors, including capital and liquidity requirements, market conditions and alternative uses for cash. The share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares of common stock, and the program may be modified, suspended or discontinued at any time.
Conference Call, Webcast and Investor Presentation
As previously announced, Vistance Networks will host a conference call today at 8:30 a.m. ET in which management will discuss the proposed transaction and first quarter of 2026 results. The conference call will also be webcast.
The live, listen-only audio of the call will be available through a link on the Events and Presentations page of Vistance Networks’ Investor Relations website.
A webcast replay will be archived on Vistance Networks’ website for a limited period of time following the conference call.
During the conference call, the Company may discuss and answer questions concerning the proposed transaction, as well as business and financial developments and trends that have occurred after quarter-end. The Company’s responses to questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been disclosed previously.
About Vistance Networks:
Vistance Networks (NASDAQ: VISN)) shapes the future of communications technology, pushing past what is possible. We deliver solutions that bring reliability and performance to a world always in motion. Our global team of innovators and employees are trusted advisors who listen to customers first, then deliver value. Discover more at www.vistancenetworks.com. Follow us on LinkedIn.
Non-GAAP Financial Measures
Management believes that presenting certain non-GAAP financial measures enhances an investor’s understanding of our financial performance. Management further believes that these financial measures are useful in assessing Vistance Networks’ operating performance