Net revenue rose 40.0% to $1.52B, but the company swung to a net loss of $30.4M from net income of $34.8M a year earlier, including a $56.7M loss on debt extinguishment.

Filed August 13, 2026 · Period ending June 27, 2026 · Compared to 10-K Aug 11, 2025 · ~1 min read

Key Changes

• high

  Net revenue rose 40.0% to $1.52B, which the company attributes to strong demand for lab and production and field products, driven by the data center ecosystem, our acquisition of Spirent’s HSE and CE business as well as demand for our aerospace and defense products.

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• medium

  GAAP operating margin improved to 6.9% from 5.3%, including the impact of IEEPA tariff refunds, while non-GAAP operating margin reached 20.6%.

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• medium

  The company recorded a $56.7M loss on debt extinguishment from prepaying its Term Loan B and exchanging convertible notes.

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