Vistance Networks Reports Fourth Quarter and Full Year 2025 Results
#InvestorRelations--Vistance Networks, Inc. (NASDAQ: VISN), a global leading provider of intelligent network solutions, today reported results for the quarter and year ended December 31, 2025. Summa...
Fourth Quarter Highlights
- Net sales of $514.5 million
- GAAP loss from continuing operations of $50.3 million
- Non-GAAP adjusted EBITDA of $64.7 million (1)
- Core non-GAAP adjusted EBITDA of $99.1 million* (1)
- Cash flow generated by operations of $281.3 million and free cash flow of $255.5 million (2)
Full Year Highlights
- Net sales of $1.93 billion
- GAAP from continuing operations of $324.3 million
- Non-GAAP adjusted EBITDA of $292.0 million (1)
- Core non-GAAP adjusted EBITDA of $379.4 million* (1)
- Cash flow generated by operations of $322.9 million and free cash flow of $252.6 million (2)
* 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.
RICHARDSON, Texas: #InvestorRelations--Vistance Networks, Inc. (NASDAQ: VISN), a global leading provider of intelligent network solutions, today reported results for the quarter and year ended December 31, 2025.
Summary of Consolidated Results |
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| Q4 |
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| Q4 |
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| % Change |
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|
| 2025 |
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| 2024 |
|
| YOY |
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| (in millions, except per share amounts) |
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Net sales |
| $ | 514.5 |
|
| $ | 415.2 |
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|
| 23.9 | % |
GAAP loss from continuing operations |
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| (50.3 | ) |
|
| (21.0 | ) |
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| 139.5 |
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GAAP loss from continuing operations per share |
|
| (0.31 | ) |
|
| (0.17 | ) |
|
| 82.4 |
|
Non-GAAP adjusted EBITDA (1) |
|
| 64.7 |
|
|
| 27.5 |
|
|
| 135.3 |
|
Core non-GAAP adjusted EBITDA (1) (2) |
|
| 99.1 |
|
|
| 64.0 |
|
|
| 54.8 |
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Non-GAAP adjusted net income per diluted share (1) |
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| 0.17 |
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|
| 0.14 |
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|
| 21.4 |
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| Full Year |
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| Full Year |
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| % Change |
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| 2025 |
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| 2024 |
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| YOY |
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| (in millions, except per share amounts) |
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Net sales |
| $ | 1,931.6 |
|
| $ | 1,382.6 |
|
|
| 39.7 | % |
GAAP income (loss) from continuing operations |
|
| 324.3 |
|
|
| (206.0 | ) |
| NM |
| |
GAAP income (loss) from continuing operations per share |
|
| 1.11 |
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|
| (1.27 | ) |
| NM |
| |
Non-GAAP adjusted EBITDA (1) |
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| 292.0 |
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|
| 24.5 |
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| 1,091.8 |
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Core non-GAAP adjusted EBITDA (1) (2) |
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| 379.4 |
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| 137.4 |
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|
| 176.1 |
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Non-GAAP adjusted net income per diluted share (1) |
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| 0.77 |
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|
| 0.10 |
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|
| 670.0 |
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NM – Not meaningful |
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(1) See “Non-GAAP Financial Measures” below. |
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(2) 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. |
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“2025 was a great year for Vistance Networks. We stayed committed to what we could control to improve company performance and profitability while creating shareholder value. For the fourth quarter, Vistance Networks reported net sales of $515 million, an increase of 24% from the prior year, and delivered Core adjusted EBITDA of $99 million, an improvement of 55% year-over-year, supported by growth in both segments. We are well positioned for 2026 as we continue to implement our strategic initiatives in Aurora and Ruckus. Our 2026 annual guideposts for Core adjusted EBITDA are in the range of $350 to $400 million,” said Chuck Treadway, President and Chief Executive Officer.
“For the full year 2025, Vistance Networks reported net sales of $1.93 billion increasing 40% from the prior year and delivered adjusted Core adjusted EBITDA of $379 million which increased 176% year-over-year. We ended the year with $923 million of cash, up $260 million versus end of 2024. Our strong 2025 performance coupled with the CCS transaction unlocked shareholder value and has positioned Vistance Networks to continue on the path of creating additional shareholder value,” said Kyle Lorentzen, Chief Financial Officer.
Free cash flow for the fourth quarter was $255 million driven by strong EBITDA. We ended the year with a strong liquidity position of $1.5 billion including $923 million of cash and approximately $584 million of availability under our asset-based revolving credit facility.
On January 9, 2026, the Company completed the previously announced sale of the CCS segment to Amphenol Corporation and used the $10 billion of net proceeds to pay all of its outstanding debt and redeemed all of the preferred equity. The Company expects to distribute the excess cash to our shareholders, as a special distribution of no less than $10 per share, by the end of April 2026. As a result of the transaction, unless otherwise noted, these financial results relate to Vistance Networks’ continuing operations based on the following remaining two reporting segments: RUCKUS and Aurora. For all periods presented, amounts have been recast to reflect these changes.
Fourth Quarter Results and Comparisons
Continuing operations net sales in the fourth quarter of 2025 increased 23.9% year-over-year to $514.5 million due to higher net sales in both the RUCKUS and Aurora segments. Net sales increased across all regions, except the Caribbean and Latin America (CALA) region.
Loss from continuing operations of $50.3 million, or $(0.31) per share, in the fourth quarter of 2025, increased compared to the same prior year period’s loss from continuing operations of $21.1 million, or $(0.17) per share. Non-GAAP adjusted net income for the fourth quarter of 2025 was $48.4 million, or $0.17 per share, compared to $37.3 million, or $0.14 per share, in the same prior year period.
Core non-GAAP adjusted EBITDA increased 54.8% to $99.1 million in the fourth quarter of 2025 compared to the same prior year period. Core non-GAAP adjusted EBITDA as a percentage of net sales increased to 19.3% in the fourth quarter of 2025 compared to 15.4% in the same prior year period. Non-GAAP adjusted EBITDA increased 135.3% to $64.7 million in the fourth quarter of 2025 compared to the same prior year period. Non-GAAP adjusted EBITDA as a percentage of net sales increased to 12.6% in the fourth quarter of 2025 compared to 6.6% in the same prior year period.
Fourth Quarter Comparisons
Sales by Region
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| % Change | ||||||||
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| Q4 2025 |
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| Q4 2024 |
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| YOY | |||||
United States |
| $ | 363.1 |
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| $ | 274.8 |
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| 32.1 |
| % |
Europe, Middle East and Africa |
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| 63.6 |
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| 50.4 |
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| 26.2 |
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Asia Pacific |
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| 40.5 |
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| 38.9 |
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| 4.1 |
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Caribbean and Latin America |
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| 24.4 |
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| 29.2 |
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| (16.4 | ) |
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Canada |
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| 22.9 |
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| 21.9 |
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| 4.6 |
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Total net sales |
| $ | 514.5 |
|
| $ | 415.2 |
|
|
| 23.9 |
| % |
Segment Net Sales
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| % Change | |||||
|
| Q4 2025 |
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| Q4 2024 |
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| YOY | |||||
RUCKUS |
| $ | 167.1 |
|
| $ | 153.4 |
|
|
| 8.9 |
| % |
Aurora |
|
| 347.4 |
|
|
| 261.8 |
|
|
| 32.7 |
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Total net sales |
| $ | 514.5 |
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| $ | 415.2 |
|
|
| 23.9 |
| % |
Segment Operating Income (Loss)
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| % Change | |||||
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| Q4 2025 |
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| Q4 2024 |
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| YOY | |||||
RUCKUS |
| $ | (4.7 | ) |
| $ | 8.6 |
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| (154.7 | ) | % |
Aurora |
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| 50.4 |
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| 0.2 |
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| NM |
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| |
Core operating income (1) |
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| 45.7 |
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| 8.8 |
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| 419.3 |
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Corporate and other (2) |
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| (48.6 | ) |
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| (56.4 | ) |
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| (13.8 | ) |
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Total operating loss |
| $ | (2.9 | ) |
| $ | (47.6 | ) |
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| (93.9 | ) | % |
Segment Adjusted EBITDA (See “Non-GAAP Financial Measures,” below)
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| % Change | |||||
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| Q4 2025 |
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| Q4 2024 |
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| YOY | |||||
RUCKUS |
| $ | 19.8 |
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| $ | 26.5 |
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