Viavi Solutions (VIAV) · Q2 2026 results and valuation

At 11.1% growth a year (3-year revenue growth), the model's fair value is $9.10 a share — the stock trades 263% above it. Today's price assumes 29.5% growth a year.

1. Guidance

   Other income and expenses are expected to net a $2.5 million expense, with share count around 268 million.

   Source quote

   “We expect other income and expenses to reflect a net expense of approximately $2.5 million, and the share count is expected to be around 268 million shares.”

2. Figure

   NSE revenue grew approximately 70% year-over-year in fiscal Q4 due to strong demand from the data center ecosystem, including high-performance semis, optical modules, NEMs, and hyperscalers.

   Source quote

   “NSE revenue in fiscal Q4 grew approximately 70% year-over-year, primarily driven by continued strong demand from the data center ecosystem... The year-on-year performance was driven by strong growth in many of our end markets. More specifically, the data center ecosystem, which includes high-performance semis, optical modules, NEMs and hyperscalers, drove strong demand for lab and production and field instruments in support of...”

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone

“OSP saw strong year-on-year growth, driven by strength in 3D sensing and anti-counterfeiting and other products.”

“Our aerospace and defense business also saw another quarter of strong year-on-year growth, driven by strong demand for our positioning, navigation and timing products.”

“The data center ecosystem customer demand for our products remains very strong, and we expect continued robust growth in this segment for the next several quarters.”