Keysight wins major patent rulings, books $57M tariff refund; revenue up 31% on Spirent, AI demand

Filed June 4, 2026 · Period ending April 30, 2026 · Compared to 10-Q Jun 3, 2025 · ~2 min read

Key Changes

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  Supreme Court invalidated IEEPA tariffs in Feb 2026; Keysight recorded $100M receivable for refunds, offset by $40M liability to refund customer surcharges, netting $57M operating income gain and boosting Q2 gross margin 4.6 ppts. Recovery timing and government funding remain uncertain.

  MD&A: IEEPA Tariff Refunds verify on EDGAR →
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  Revenue grew 31% YoY to $1.7B in Q2 FY2026, driven by $55M from Spirent acquisition (closed Q4 FY2025) and strong AI-driven demand for 400G/800G/1.6 terabit Ethernet solutions in data centers. Orders surged 56% YoY, signaling robust backlog build.

  MD&A: Revenue & Orders verify on EDGAR →
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  Keysight won two major Centripetal patent rulings: Federal Circuit affirmed ITC's no-violation finding (removing import-ban risk), and all claims of three Centripetal patents invalidated at USPTO/Federal Circuit. Two German patents fully invalidated; Centripetal ordered to pay Keysight's defense costs.

  Legal Proceedings verify on EDGAR →