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VIAVI SOLUTIONS INC.
RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS
TO NON-GAAP MEASURES (NEW METHODOLOGY)
(in millions, except per share data)
(unaudited)
Three Months EndedYears Ended
March 28, 2026December 27, 2026September 27, 2025June 28, 2025March 29, 2025December 28, 2024September 28, 2024June 28, 2025June 29, 2024
Gross ProfitGross ProfitGross ProfitGross ProfitGross ProfitGross ProfitGross ProfitGross ProfitGross Profit
GAAP measures $234.1 $210.6 $169.0 $163.5 $160.7 $160.8 $136.1 $621.1 $575.9 
Stock-based compensation1.1 1.1 1.0 1.2 2.0 1.3 1.2 5.7 4.9 
Employer payroll tax on employee share-based awards0.1 — 0.3 — — — 0.2 0.2 0.2 
Other charges (benefits) unrelated to core operating performance3.8 1.3 0.1 0.4 0.3 — 0.1 0.8 (0.1)
Amortization of acquisition related inventory step-up0.9 2.6 2.6 2.6 1.7 — — 4.3 — 
Amortization of intangibles13.0 12.5 6.9 6.8 6.1 3.3 3.3 19.5 13.8 
Total related to Cost of Revenues18.9 17.5 10.9 11.0 10.1 4.6 4.8 30.5 18.8 
Non-GAAP measures $253.0 $228.1 $179.9 $174.5 $170.8 $165.4 $140.9 $651.6 $594.7 
GAAP Gross Margin57.5 %57.0 %56.5 %56.3 %56.4 %59.4 %57.1 %57.3 %57.6 %
Non-GAAP Gross Margin62.2 %61.8 %60.1 %60.1 %60.0 %61.1 %59.2 %60.1 %59.4 %
Three Months EndedYears Ended
March 28, 2026December 27, 2026September 27, 2025June 28, 2025March 29, 2025December 28, 2024September 28, 2024June 28, 2025June 29, 2024
Operating IncomeOperating IncomeOperating IncomeOperating IncomeOperating IncomeOperating IncomeOperating IncomeOperating IncomeOperating Income
GAAP measures$24.8 $11.4 $7.6 $15.3 $8.5 $22.2 $11.5 $57.5 $20.8 
Stock-based compensation13.9 13.9 13.4 12.6 14.1 13.7 12.7 53.1 49.4 
Employer payroll tax on employee share-based awards0.9 — 1.6 — 0.5 — 0.8 1.3 1.0 
Change in fair value of contingent consideration2.6 10.8 10.9 (3.4)2.5 (3.9)(3.5)(8.3)(9.5)
Acquisition and integration related charges0.7 7.8 3.9 5.6 13.3 2.8 0.6 22.3 18.1 
Other charges (benefits) unrelated to core operating performance4.9 6.2 0.6 1.1 0.6 0.1 (0.5)1.3 2.5 
Amortization of acquisition related inventory step-up0.9 2.6 2.6 2.6 1.7 — — 4.3 — 
Amortization of intangibles20.4 18.8 8.4 8.3 7.3 4.3 4.4 24.3 20.1 
Restructuring and related charges (benefits) including employer payroll taxes17.3 (0.1)(0.3)(0.2)(0.3)1.2 — 0.7 13.6 
Litigation settlement — — — — — — (1.3)(1.3)— 
Total related to Cost of Revenues and Operating Expenses61.6 60.0 41.1 26.6 39.7 18.2 13.2 97.7 95.2 
Non-GAAP measures$86.4 $71.4 $48.7 $41.9 $48.2 $40.4 $24.7 $155.2 $116.0 
GAAP Operating Margin6.1 %3.1 %2.5 %5.3 %3.0 %8.2 %4.8 %5.3 %2.1 %
Non-GAAP Operating Margin21.2 %19.3 %16.3 %14.4 %16.9 %14.9 %10.4 %14.3 %11.6 %













VIAVI SOLUTIONS INC.
RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS
TO NON-GAAP MEASURES (NEW METHODOLOGY)
(in millions, except per share data)
(unaudited)
Three Months EndedYears Ended
March 28, 2026December 27, 2026September 27, 2025June 28, 2025March 29, 2025December 28, 2024September 28, 2024June 28, 2025June 29, 2024
Net IncomeNet (Loss) IncomeNet (Loss) IncomeNet IncomeNet IncomeNet IncomeNet (Loss) IncomeNet IncomeNet (Loss) Income
GAAP measures$6.4 $(48.1)$(21.4)$8.0 $19.5 $9.1 $(1.8)$34.8 $(25.8)
Items reconciling GAAP Net Income (Loss) and EPS to Non-GAAP Net Income and EPS:
Stock-based compensation13.9 13.9 13.4 12.6 14.1 13.7 12.7 53.1 49.4 
Employer payroll tax on employee share-based awards0.9 — 1.6 — 0.5 — 0.8 1.3 1.0 
Change in fair value of contingent consideration2.6 10.8 10.9 (3.4)2.5 (3.9)(3.5)(8.3)(9.5)
Acquisition and integration related charges0.7 7.8 3.9 5.6 13.3 2.8 0.6 22.3 18.1 
Other charges (benefits) unrelated to core operating performance4.9 6.2 0.6 1.1 0.6 0.1 (0.5)1.3 2.5 
Amortization of acquisition related inventory step-up0.9 2.6 2.6 2.6 1.7 — — 4.3 — 
Amortization of intangibles20.4 18.8 8.4 8.3 7.3 4.3 4.4 24.3 20.1 
Restructuring and related charges (benefits) including employer payroll taxes17.3 (0.1)(0.3)(0.2)(0.3)1.2 — 0.7 13.6 
   Litigation settlement — — — — — — (1.3)(1.3)(6.3)
Non-cash interest expense and other expense2.4 39.4 4.8 1.2 1.3 1.1 1.1 4.7 4.9 
(Benefits from) provision for income taxes(1.9)0.2 10.2 (6.1)(26.1)1.0 0.7 (30.5)6.5 
   Total related to Net Income and EPS62.1 99.6 56.1 21.7 14.9 20.3 15.0 71.9 100.3 
Non-GAAP measures $68.5 $51.5 $34.7 $29.7 $34.4 $29.4 $13.2 $106.7 $74.5 
Shares used in per share calculation for Non-GAAP EPS249.5 233.4 227.9 227.0 226.9 224.8 224.0 225.7 224.1 
GAAP Diluted EPS$0.03 $(0.21)$(0.10)$0.04 $0.09 $0.04 $(0.01)$0.15 $(0.12)
Non-GAAP Diluted EPS$0.27 $0.22 $0.15 $0.13 $0.15 $0.13 $0.06 $0.47 $0.33 
























VIAVI SOLUTIONS INC.
RECONCILIATION OF GAAP MEASURES FROM CONTINUING OPERATIONS
TO ADJUSTED EBITDA (NEW METHODOLOGY)
(in millions, unaudited)
Three Months EndedYears Ended
March 28, 2026December 27, 2026September 27, 2025June 28, 2025March 29, 2025December 28, 2024September 28, 2024June 28, 2025June 29, 2024
EBITDAEBITDAEBITDAEBITDAEBITDAEBITDAEBITDAEBITDAEBITDA
GAAP Net income (loss) $6.4 $(48.1)$(21.4)$8.0 $19.5 $9.1 $(1.8)$34.8 $(25.8)
Interest and other (income) expense, net(3.3)34.8 2.5 (1.8)(2.2)(3.9)(3.2)(11.1)(21.7)
Interest expense14.3 15.3 7.4 7.5 7.5 7.5 7.5 30.0 30.9 
Provision for (benefit from) income taxes7.4 9.7 19.0 2.2 (16.3)9.5 9.0 4.4 37.4 
Equity investment earnings— (0.3)0.1 (0.6)— — — (0.6)
Depreciation10.3 10.0 9.8 9.6 9.3 9.8 9.7 38.4 38.6 
Amortization20.4 18.8 8.4 8.3 7.3 4.3 4.4 24.3 20.1 
EBITDA55.5 40.2 25.8 33.2 25.1 36.3 25.6 120.2 79.5 
Restructuring and related charges (benefits) including employer payroll taxes17.3 (0.1)(0.3)(0.2)(0.3)1.2 — 0.7 13.6 
Stock-based compensation13.9 13.9 13.4 12.6 14.1 13.7 12.7 53.1 49.4 
Employer payroll tax on employee share-based awards0.9 — 1.6 — 0.5 — 0.8 1.3 1.0 
Change in fair value of contingent consideration2.6 10.8 10.9 (3.4)2.5 (3.9)(3.5)(8.3)(9.5)
Acquisition and integration related charges0.7 7.8 3.9 5.6 13.3 2.8 0.6 22.3 18.1 
Other charges (benefits) unrelated to core operating performance4.6 6.2 0.5 0.9 0.6 — (1.9)(0.4)1.9 
Amortization of acquisition related inventory step-up0.9 2.6 2.6 2.6 1.7 — — 4.3 — 
Adjusted EBITDA$96.4 $81.4 $58.4 $51.3 $57.5 $50.1 $34.3 $193.2 $154.0