Vistance Networks (VISN) Financials

$12.21 -0.07 (-0.57%)

Closing price 05/6/2026 04:00 PM Eastern

Extended Trading

$12.16 -0.05 (-0.37%)

As of 05/6/2026 06:37 PM Eastern

Annual Income Statements for Vistance Networks

This table shows Vistance Networks' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-71	223	194	140	-973	-630	-520	-1,346	-1,569	-381	2,215
Consolidated Net Income / (Loss)	-71	223	194	140	-930	-573	-463	-1,287	-1,507	-316	2,284
Net Income / (Loss) Continuing Operations	-71	223	194	140	-930	-573	-350	-1,430	-653	-206	324
Total Pre-Tax Income	-62	273	210	171	-1,074	-655	-389	-1,521	-573	-273	55
Total Operating Income	182	568	472	450	-509	-52	197	-935	-660	-292	48
Total Gross Profit	1,346	2,029	1,706	1,633	2,404	2,748	2,440	1,986	900	605	956
Total Revenue	3,808	4,924	4,561	4,569	8,345	8,436	6,737	5,789	1,864	1,383	1,932
Operating Revenue	3,808	4,924	4,561	4,569	8,345	8,436	6,737	5,789	1,864	1,383	1,932
Total Cost of Revenue	2,462	2,894	2,855	2,935	5,941	5,688	4,298	3,803	964	778	976
Operating Cost of Revenue	2,462	2,894	2,855	2,935	5,941	5,688	4,298	3,803	964	778	976
Total Operating Expenses	1,164	1,462	1,234	1,183	2,913	2,800	2,243	2,921	1,560	897	908
Selling, General & Admin Expense	687	882	733	674	1,277	1,171	1,083	908	512	472	497
Research & Development Expense	136	201	186	186	579	703	565	452	319	248	284
Amortization Expense	221	297	271	265	593	631	510	400	227	165	138
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	0.00	0.00	-25	-31
Impairment Charge	91	39	-	15	376	207	0.00	1,120	472	0.00	0.00
Restructuring Charge	29	43	44	44	88	88	85	42	29	37	20
Total Other Income / (Expense), net	-244	-295	-262	-279	-566	-603	-586	-586	87	19	7.30
Interest Expense	235	278	257	242	577	578	561	589	0.00	0.00	0.00
Interest & Investment Income	4.13	5.52	4.20	7.00	18	4.40	1.90	2.80	11	11	17
Other Income / (Expense), net	-13	-23	-9.40	-44	-6.40	-29	-27	0.00	76	7.90	-9.40
Income Tax Expense	8.87	50	16	31	-145	-81	-39	-91	80	-67	-269
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-113	143	-854	-110	1,959
Preferred Stock Dividends Declared	-	-	-	0.00	44	56	57	59	62	65	69
Basic Earnings per Share	($0.37)	$1.16	$1.01	$0.73	($5.02)	($3.20)	($2.55)	($6.49)	($7.44)	($1.78)	$10.09
Weighted Average Basic Shares Outstanding	189.88M	192.47M	192.40M	192M	193.70M	196.80M	203.60M	207.40M	210.90M	214.40M	219.50M
Diluted Earnings per Share	($0.37)	$1.13	$0.98	$0.72	($5.02)	($3.20)	($2.55)	($6.49)	($7.44)	($1.78)	$9.63
Weighted Average Diluted Shares Outstanding	189.88M	196.46M	196.80M	195.30M	193.70M	196.80M	203.60M	207.40M	210.90M	214.40M	230M
Weighted Average Basic & Diluted Shares Outstanding	191.60M	192.10M	191.80M	192.10M	194.64M	200.83M	204.62M	208.46M	212.27M	216.56M	225.46M

This table shows Vistance Networks' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-844	-597	-350	28	-49	-9.80	767	15	91	1,342	5,506
Consolidated Net Income / (Loss)	-829	-581	-334	44	-33	6.80	784	32	108	1,360	5,508
Net Income / (Loss) Continuing Operations	-534	-86	-243	-56	-97	190	341	29	107	-102	232
Total Pre-Tax Income	-568	36	-216	-69	-70	81	-16	71	150	-121	47
Total Operating Income	-408	-533	-55	91	102	-431	-16	236	301	-623	24
Total Gross Profit	380	-679	295	399	435	-524	198	592	668	-772	234
Total Revenue	1,053	-2,443	901	1,054	1,082	-1,654	388	1,388	1,630	-2,198	472
Operating Revenue	1,053	-2,443	901	1,054	1,082	-1,654	388	1,388	1,630	-2,198	472
Total Cost of Revenue	673	-1,764	606	655	647	-1,130	191	796	962	-1,426	238
Operating Cost of Revenue	673	-1,764	606	655	647	-1,130	191	796	962	-1,426	238
Total Operating Expenses	789	-147	350	308	333	-94	214	356	367	-149	210
Selling, General & Admin Expense	186	-136	175	187	203	-94	109	216	227	-139	109
Research & Development Expense	85	-21	85	73	78	12	66	91	95	13	58
Amortization Expense	69	-18	69	56	57	-16	36	52	52	-19	34
Other Operating Expenses / (Income)	0.00	-	-9.60	-8.40	-4.40	-2.10	-8.70	-5.40	-8.70	-7.90	-1.10
Restructuring Charge	22	-18	31	0.90	-0.90	6.10	11	3.00	1.80	3.70	9.60
Total Other Income / (Expense), net	-160	569	-161	-160	-172	512	-0.10	-165	-151	502	23
Interest & Investment Income	3.40	3.30	3.60	2.10	2.60	2.60	4.40	3.10	3.90	5.30	21
Other Income / (Expense), net	8.00	61	3.10	5.40	-6.80	6.20	-4.50	-12	-0.70	13	2.10
Income Tax Expense	-35	122	27	-12	27	-108	-358	41	43	-19	-185
Net Income / (Loss) Discontinued Operations	-295	-495	-91	101	64	-183	443	2.40	1.50	1,461	5,276
Preferred Stock Dividends Declared	16	16	16	16	16	17	17	17	17	18	1.70
Basic Earnings per Share	($3.98)	($2.86)	($1.65)	$0.13	($0.23)	($0.03)	$3.55	$0.07	$0.41	$6.06	$24.45
Weighted Average Basic Shares Outstanding	211.90M	210.90M	212.30M	213.50M	215.90M	214.40M	216.30M	218.10M	221.50M	219.50M	225.20M
Diluted Earnings per Share	($3.98)	($2.85)	($1.65)	$0.13	($0.23)	($0.03)	$2.88	$0.06	$0.39	$6.30	$23.15
Weighted Average Diluted Shares Outstanding	211.90M	210.90M	212.30M	213.50M	215.90M	214.40M	271.90M	227.30M	277.70M	230M	237.90M
Weighted Average Basic & Diluted Shares Outstanding	212.06M	212.27M	212.28M	215.85M	215.88M	216.56M	216.60M	221.53M	221.55M	225.46M	225.57M

This table details how cash moves in and out of Vistance Networks' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-166	-135	26	4.20	140	-76	-162	38	146	120	260
Net Cash From Operating Activities	327	640	586	494	596	436	122	190	297	273	323
Net Cash From Continuing Operating Activities	327	640	586	494	596	436	122	190	297	273	323
Net Income / (Loss) Continuing Operations	-71	223	194	140	-930	-573	-463	-1,287	-1,507	-316	2,284
Consolidated Net Income / (Loss)	-71	223	194	140	-930	-573	-463	-1,287	-1,507	-316	2,284
Depreciation Expense	304	399	378	358	771	823	786	696	561	371	277
Non-Cash Adjustments To Reconcile Net Income	125	84	85	91	469	381	143	1,187	1,187	89	-762
Changes in Operating Assets and Liabilities, net	-30	-66	-71	-95	286	-194	-345	-406	56	129	-1,476
Net Cash From Investing Activities	-3,051	-55	-166	-64	-5,155	-120	-137	-82	31	-57	1,982
Net Cash From Continuing Investing Activities	-3,051	-55	-166	-64	-5,155	-120	-137	-82	31	-57	1,982
Purchase of Property, Plant & Equipment	-57	-68	-69	-82	-104	-121	-131	-101	-61	-25	-70
Acquisitions	-3,001	-	-105	0.00	-5,053	-3.50	-	0.00	0.00	-45	0.00
Sale of Property, Plant & Equipment	3.42	4.08	5.40	13	1.60	5.00	13	0.10	71	0.20	10
Divestitures	-	6.10	-	-	-	-	-	-	0.00	0.00	2,042
Other Investing Activities, net	0.65	2.25	-	5.10	-8.30	-0.50	-0.50	19	20	13	0.00
Net Cash From Financing Activities	2,578	-708	-414	-410	4,699	-384	-140	-65	-182	-83	-2,054
Net Cash From Continuing Financing Activities	2,578	-708	-414	-410	4,699	-384	-140	-65	-182	-83	-2,054
Repayment of Debt	-694	-741	-1,014	-550	-3,182	-1,312	-1,326	-368	-173	-4,372	-2,055
Payment of Dividends	-	-	-	0.00	-41	-14	-43	-15	0.00	0.00	-18
Issuance of Debt	3,247	20	780	150	6,933	950	1,250	333	0.00	4,350	50
Other Financing Activities, net	-0.70	-3.88	-15	-16	-13	-17	-26	-15	-9.10	-61	-31
Effect of Exchange Rate Changes	-21	-12	19	-16	-0.10	-8.50	-7.60	-5.10	-0.80	-13	8.60

This table details how cash moves in and out of Vistance Networks' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	101	25	-187	-11	111	207	-170	78	134	218	1,644
Net Cash From Operating Activities	139	68	-178	51	122	278	-187	77	151	281	-227
Net Cash From Continuing Operating Activities	139	68	-178	51	122	278	-187	77	151	281	-227
Net Income / (Loss) Continuing Operations	-829	-581	-334	44	-33	6.80	784	32	108	1,360	5,508
Consolidated Net Income / (Loss)	-829	-581	-334	44	-33	6.80	784	32	108	1,360	5,508
Depreciation Expense	139	119	113	90	85	83	78	75	75	49	39
Non-Cash Adjustments To Reconcile Net Income	851	306	42	34	19	-5.50	-835	47	14	26	-6,887
Changes in Operating Assets and Liabilities, net	-22	224	1.10	-117	51	194	-214	-76	-45	-1,153	1,113
Net Cash From Investing Activities	-8.60	13	2.60	-50	-6.70	-2.90	2,019	4.70	-16	-26	10,540
Net Cash From Continuing Investing Activities	-8.60	13	2.60	-50	-6.70	-2.90	2,019	4.70	-16	-26	10,540
Purchase of Property, Plant & Equipment	-8.70	-17	-6.00	-5.30	-6.70	-7.30	-16	-13	-16	-26	-2.20
Divestitures	-	-	0.00	-	-	-	2,035	7.30	0.10	-	10,542
Net Cash From Financing Activities	-25	-59	-8.20	-9.60	-8.00	-57	-2,006	-9.40	-0.30	-38	-8,672
Net Cash From Continuing Financing Activities	-25	-59	-8.20	-9.60	-8.00	-57	-2,006	-9.40	-0.30	-38	-8,672
Repayment of Debt	-25	-59	-8.00	-8.00	-8.00	-4,348	-2,055	-	-	-	-7,371
Repurchase of Preferred Equity	-	-	-	-	-	-	0.00	-	-	-	-1,279
Payment of Dividends	-	-	-	-	-	-	0.00	-	-	-	-1.70
Issuance of Debt	-	-	0.00	-	-	4,350	50	-	-	-	0.00
Issuance of Common Equity	-	-	-	-	-	-	0.00	-	-	-	0.10
Other Financing Activities, net	-	-0.20	-0.20	-1.60	-	-60	-1.50	-9.40	-0.30	-20	-20
Effect of Exchange Rate Changes	-4.30	3.30	-3.30	-2.30	3.10	-11	4.10	5.40	-0.60	-0.30	2.30

This table presents Vistance Networks' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	7,503	7,142	7,042	6,631	14,432	13,577	13,260	11,685	9,333	8,748	9,371
Total Current Assets	2,005	1,994	1,944	1,878	3,512	3,355	3,580	3,726	2,826	3,485	5,796
Cash & Equivalents	563	428	454	458	598	522	360	373	500	404	754
Accounts Receivable	833	952	899	810	1,699	1,487	1,533	1,178	582	252	350
Inventories, net	442	473	445	473	976	1,089	1,436	1,376	901	403	310
Prepaid Expenses	167	140	146	136	239	256	251	177	135	89	57
Other Current Nonoperating Assets	-	-	-	-	-	-	-	622	708	2,336	4,325
Plant, Property, & Equipment, net	529	475	467	451	724	685	656	601	433	82	59
Total Noncurrent Assets	4,969	4,673	4,631	4,302	10,196	9,538	9,024	7,358	6,073	5,181	3,516
Goodwill	2,691	2,768	2,887	2,852	5,472	5,287	5,232	4,072	2,898	760	765
Intangible Assets	2,147	1,799	1,636	1,352	4,264	3,650	3,027	1,915	1,460	979	839
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	495	612	432	1,766
Other Noncurrent Operating Assets	131	106	108	98	461	601	765	275	287	150	147
Total Liabilities & Shareholders' Equity	7,503	7,142	7,042	6,631	14,432	13,577	13,260	11,685	9,333	8,748	9,371
Total Liabilities	6,280	5,748	5,394	4,874	12,595	12,180	12,360	12,131	11,195	10,976	9,096
Total Current Liabilities	685	858	724	691	2,042	1,953	2,183	2,108	1,406	1,230	1,496
Accounts Payable	301	416	437	399	1,148	1,011	1,161	684	331	123	213
Accrued Expenses	372	429	287	291	862	911	990	869	563	457	498
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	523	480	649	784
Total Noncurrent Liabilities	5,595	4,890	4,670	4,183	10,553	10,227	10,178	10,024	9,790	9,747	7,601
Long-Term Debt	5,231	4,550	4,369	3,986	9,800	9,489	9,479	9,470	9,247	9,238	7,260
Noncurrent Deferred & Payable Income Tax Liabilities	202	199	134	83	215	206	208	116	95	91	67
Other Noncurrent Operating Liabilities	124	110	141	114	538	532	491	356	427	321	274
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	1,000	1,042	1,056	1,100	1,162	1,227	1,279
Total Equity & Noncontrolling Interests	1,223	1,394	1,648	1,757	836	355	-157	-1,546	-3,025	-3,456	-1,004
Total Preferred & Common Equity	1,223	1,394	1,648	1,757	836	355	-157	-1,546	-3,025	-3,456	-1,004
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,223	1,394	1,648	1,757	836	355	-157	-1,546	-3,025	-3,456	-1,004
Common Stock	2,218	2,284	2,336	2,387	2,447	2,515	2,543	2,545	2,553	2,517	2,490
Retained Earnings	-812	-590	-396	-250	-1,179	-1,753	-2,215	-3,502	-5,009	-5,325	-3,041
Treasury Stock	-11	-15	-206	-221	-235	-251	-278	-293	-302	-304	-335
Accumulated Other Comprehensive Income / (Loss)	-172	-285	-87	-159	-197	-156	-206	-296	-267	-345	-119

This table presents Vistance Networks' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	11,166	10,066	8,654	8,821	8,811	7,507	7,743	7,939	5,443
Total Current Assets	3,425	3,215	2,407	2,567	3,424	2,298	2,521	2,803	3,324
Cash & Equivalents	418	519	357	346	392	493	571	705	2,510
Accounts Receivable	1,354	1,145	837	1,000	665	844	935	1,043	377
Inventories, net	1,454	1,365	1,044	1,042	844	766	823	798	337
Prepaid Expenses	199	187	169	177	178	186	192	257	100
Other Current Nonoperating Assets	-	-	0.00	2.00	1,346	8.30	0.00	0.00	0.00
Plant, Property, & Equipment, net	566	539	456	437	365	342	338	336	56
Total Noncurrent Assets	7,175	6,312	5,790	5,818	5,022	4,868	4,884	4,800	2,063
Goodwill	4,079	3,636	3,500	3,500	2,907	2,889	2,927	2,924	765
Intangible Assets	2,246	1,673	1,500	1,446	1,276	1,164	1,114	1,062	805
Noncurrent Deferred & Refundable Income Taxes	-	-	480	559	554	514	521	487	304
Other Noncurrent Operating Assets	850	1,003	310	312	285	302	323	327	189
Total Liabilities & Shareholders' Equity	11,166	10,066	8,654	8,821	8,811	7,507	7,743	7,939	5,443
Total Liabilities	11,651	11,409	10,807	10,946	10,923	8,811	8,923	9,005	849
Total Current Liabilities	1,722	1,547	1,049	2,473	2,451	1,049	1,158	1,244	499
Accounts Payable	783	795	455	495	382	468	531	593	165
Accrued Expenses	907	719	562	672	527	581	627	651	334
Other Current Nonoperating Liabilities	-	-	0.00	0.00	235	0.00	0.00	0.00	0.00
Total Noncurrent Liabilities	9,929	9,863	9,758	8,472	8,472	7,763	7,765	7,761	350
Long-Term Debt	9,381	9,353	9,245	7,968	7,966	7,245	7,250	7,255	0.00
Noncurrent Deferred & Payable Income Tax Liabilities	156	105	121	116	101	97	94	90	69
Other Noncurrent Operating Liabilities	392	404	392	389	404	421	421	416	281
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	1,131	1,146	1,178	1,194	1,211	1,244	1,261	1,279	0.00
Total Equity & Noncontrolling Interests	-1,616	-2,490	-3,332	-3,319	-3,323	-2,548	-2,441	-2,345	4,595
Total Preferred & Common Equity	-1,616	-2,490	-3,332	-3,319	-3,323	-2,548	-2,441	-2,345	4,595
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-1,616	-2,490	-3,332	-3,319	-3,323	-2,548	-2,441	-2,345	4,595
Common Stock	2,561	2,557	2,548	2,533	2,525	2,507	2,499	2,493	2,494
Retained Earnings	-3,599	-4,428	-5,312	-5,268	-5,301	-4,541	-4,509	-4,400	2,454
Treasury Stock	-302	-302	-302	-304	-304	-305	-315	-315	-355
Accumulated Other Comprehensive Income / (Loss)	-276	-317	-265	-281	-243	-210	-117	-122	1.10

This table displays calculated financial ratios and metrics derived from Vistance Networks' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.57%	29.30%	-7.37%	0.17%	82.67%	1.09%	-20.13%	-14.08%	-67.80%	-25.82%	39.71%
EBITDA Growth	-37.11%	99.91%	-10.92%	-9.21%	-66.46%	189.92%	28.86%	-125.01%	90.43%	478.60%	263.55%
EBIT Growth	-65.68%	223.13%	-15.05%	-12.30%	-226.92%	84.25%	309.74%	-649.85%	37.55%	51.41%	113.46%
NOPAT Growth	-70.52%	265.08%	-6.05%	-15.23%	-196.31%	89.81%	479.54%	-575.74%	29.48%	55.78%	237.70%
Net Income Growth	-129.93%	414.41%	-13.03%	-27.66%	-762.98%	38.31%	19.32%	-178.19%	-17.09%	79.06%	823.84%
EPS Growth	-129.84%	405.41%	-13.27%	-26.53%	-797.22%	36.26%	20.31%	-154.51%	-14.64%	76.08%	641.01%
Operating Cash Flow Growth	13.03%	95.72%	-8.42%	-15.73%	20.70%	-26.86%	-71.96%	55.36%	56.47%	-8.14%	18.24%
Free Cash Flow Firm Growth	-674.46%	133.20%	-52.29%	61.84%	-1,047.33%	110.40%	-24.32%	175.02%	28.80%	106.28%	-122.75%
Invested Capital Growth	81.80%	-6.36%	0.64%	-5.01%	109.49%	-6.10%	-3.33%	-19.74%	-26.96%	-63.42%	50.35%
Revenue Q/Q Growth	9.01%	0.74%	-1.27%	-1.35%	17.47%	-1.94%	-20.68%	-20.54%	-62.13%	-58.04%	-63.55%
EBITDA Q/Q Growth	-4.64%	10.63%	-2.69%	-10.64%	-41.32%	123.49%	6.04%	-120.62%	93.78%	-73.38%	-70.97%
EBIT Q/Q Growth	-28.24%	21.69%	-4.36%	-16.53%	-215.70%	85.07%	67.42%	-312.42%	40.25%	-250.37%	-95.07%
NOPAT Q/Q Growth	-54.26%	69.22%	5.61%	-16.36%	-324.10%	89.84%	50.65%	-317.21%	33.08%	-118.34%	-88.05%
Net Income Q/Q Growth	-236.08%	139.03%	-0.44%	-35.40%	-80.14%	44.55%	-31.53%	-385.62%	25.94%	65.08%	145.30%
EPS Q/Q Growth	-237.04%	140.43%	0.00%	-35.14%	-78.01%	42.65%	-28.14%	-313.38%	25.67%	61.30%	191.82%
Operating Cash Flow Q/Q Growth	4.34%	-7.55%	38.11%	-19.37%	51.91%	-35.33%	-47.38%	190.87%	-51.75%	333.49%	1.06%
Free Cash Flow Firm Q/Q Growth	-5.69%	19.90%	12.73%	-12.72%	4.52%	-38.81%	32.14%	279.18%	-4.77%	99.56%	-131.79%
Invested Capital Q/Q Growth	-2.52%	-1.81%	-2.18%	-1.89%	-5.66%	0.59%	-0.10%	-19.43%	-21.68%	-61.92%	-40.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.34%	41.21%	37.40%	35.75%	28.81%	32.57%	36.21%	34.30%	48.30%	43.77%	49.49%
EBITDA Margin	12.40%	19.17%	18.43%	16.71%	3.07%	8.80%	14.20%	-4.13%	-1.23%	6.27%	16.32%
Operating Margin	4.77%	11.53%	10.35%	9.85%	-6.09%	-0.61%	2.92%	-16.16%	-35.39%	-21.10%	2.46%
EBIT Margin	4.43%	11.06%	10.14%	8.88%	-6.17%	-0.96%	2.52%	-16.16%	-31.34%	-20.53%	1.98%
Profit (Net Income) Margin	-1.86%	4.53%	4.25%	3.07%	-11.14%	-6.80%	-6.87%	-22.23%	-80.85%	-22.82%	118.23%
Tax Burden Percent	114.31%	81.75%	92.37%	82.13%	86.55%	87.61%	118.86%	84.59%	262.97%	115.61%	4,159.75%
Interest Burden Percent	-36.79%	50.05%	45.35%	42.08%	208.58%	807.03%	-228.81%	162.66%	98.10%	96.16%	143.72%
Effective Tax Rate	0.00%	18.25%	7.63%	17.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-490.71%
Return on Invested Capital (ROIC)	2.78%	8.12%	7.86%	6.81%	-4.35%	-0.34%	1.35%	-7.23%	-6.62%	-5.08%	10.42%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.20%	2.65%	1.84%	0.65%	-13.34%	-6.23%	-5.27%	-14.39%	-19.47%	-6.91%	64.92%
Return on Net Nonoperating Assets (RNNOA)	-8.38%	8.91%	4.88%	1.42%	-47.39%	-35.13%	-41.64%	-559.94%	137.17%	20.50%	-244.15%
Return on Equity (ROE)	-5.60%	17.03%	12.74%	8.24%	-51.74%	-35.47%	-40.29%	-567.17%	130.56%	15.42%	-233.72%
Cash Return on Invested Capital (CROIC)	-55.28%	14.69%	7.22%	11.95%	-75.11%	5.95%	4.73%	14.68%	24.54%	87.80%	-29.80%
Operating Return on Assets (OROA)	2.71%	7.44%	6.52%	5.93%	-4.89%	-0.58%	1.27%	-7.50%	-5.56%	-3.14%	0.42%
Return on Assets (ROA)	-1.14%	3.04%	2.73%	2.05%	-8.83%	-4.09%	-3.45%	-10.32%	-14.34%	-3.49%	25.21%
Return on Common Equity (ROCE)	-5.60%	17.03%	12.74%	8.24%	-37.34%	-13.07%	-3.48%	2,127.94%	258.51%	24.43%	-533.44%
Return on Equity Simple (ROE_SIMPLE)	-5.80%	15.98%	11.76%	7.98%	-111.14%	-161.52%	295.40%	83.24%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	127	464	436	370	-356	-36	138	-655	-462	-204	281
NOPAT Margin	3.34%	9.43%	9.56%	8.09%	-4.27%	-0.43%	2.04%	-11.31%	-24.77%	-14.77%	14.56%
Net Nonoperating Expense Percent (NNEP)	5.98%	5.47%	6.02%	6.16%	8.99%	5.89%	6.61%	7.16%	12.85%	1.83%	-54.50%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-8.23%	-7.38%	-3.53%	4.49%
Cost of Revenue to Revenue	64.66%	58.79%	62.60%	64.25%	71.19%	67.43%	63.79%	65.70%	51.70%	56.23%	50.51%
SG&A Expenses to Revenue	18.05%	17.91%	16.07%	14.75%	15.30%	13.88%	16.07%	15.68%	27.49%	34.14%	25.75%
R&D to Revenue	3.57%	4.09%	4.07%	4.06%	6.93%	8.34%	8.39%	7.80%	17.10%	17.90%	14.68%
Operating Expenses to Revenue	30.57%	29.69%	27.05%	25.90%	34.90%	33.19%	33.29%	50.46%	83.69%	64.86%	47.02%
Earnings before Interest and Taxes (EBIT)	169	545	463	406	-515	-81	170	-935	-584	-284	38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	472	944	841	763	256	742	956	-239	-23	87	315
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.04	5.15	4.38	1.79	3.30	7.50	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.30	1.46	1.58	0.69	0.33	0.32	0.34	0.26	0.32	0.81	2.08
Price to Earnings (P/E)	0.00	32.21	37.24	22.47	0.00	0.00	0.00	0.00	0.00	0.00	1.81
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	3.10%	2.69%	4.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	55.14%
Enterprise Value to Invested Capital (EV/IC)	1.63	2.05	2.00	1.26	1.17	1.22	1.24	1.46	1.79	5.19	3.64
Enterprise Value to Revenue (EV/Rev)	2.53	2.30	2.44	1.46	1.56	1.51	1.85	2.03	5.65	8.09	6.11
Enterprise Value to EBITDA (EV/EBITDA)	20.37	11.99	13.24	8.75	50.74	17.11	13.03	0.00	0.00	129.02	37.44
Enterprise Value to EBIT (EV/EBIT)	57.06	20.77	24.06	16.46	0.00	0.00	73.27	0.00	0.00	0.00	308.93
Enterprise Value to NOPAT (EV/NOPAT)	75.66	24.37	25.53	18.07	0.00	0.00	90.57	0.00	0.00	0.00	41.97
Enterprise Value to Operating Cash Flow (EV/OCF)	29.40	17.67	18.99	13.52	21.78	29.12	101.91	61.90	35.45	40.96	36.55
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	13.47	27.79	10.30	0.00	19.89	25.78	8.85	6.15	3.17	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.29	3.27	2.65	2.27	5.35	6.82	10.57	-21.32	-4.98	-4.15	26.44
Long-Term Debt to Equity	4.28	3.26	2.65	2.27	5.34	6.79	10.54	-21.25	-4.96	-4.15	26.44
Financial Leverage	2.62	3.37	2.65	2.19	3.55	5.64	7.90	38.92	-7.05	-2.97	-3.76
Leverage Ratio	4.91	5.60	4.66	4.02	5.86	8.66	11.69	54.97	-9.11	-4.42	-9.27
Compound Leverage Factor	-1.81	2.80	2.11	1.69	12.23	69.91	-26.74	89.41	-8.93	-4.25	-13.32
Debt to Total Capital	81.09%	76.59%	72.61%	69.41%	84.26%	87.21%	91.36%	104.92%	125.12%	131.80%	96.36%
Short-Term Debt to Total Capital	0.19%	0.21%	0.00%	0.00%	0.27%	0.29%	0.31%	0.35%	0.43%	0.00%	0.00%
Long-Term Debt to Total Capital	80.90%	76.38%	72.61%	69.41%	83.99%	86.91%	91.05%	104.57%	124.68%	131.80%	96.36%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	8.57%	9.54%	10.15%	12.15%	15.67%	17.51%	16.97%
Common Equity to Total Capital	18.91%	23.41%	27.39%	30.59%	7.17%	3.25%	-1.50%	-17.07%	-40.79%	-49.31%	-13.33%
Debt to EBITDA	11.11	4.83	5.20	5.22	38.41	12.83	9.94	-39.72	-405.18	106.56	23.03
Net Debt to EBITDA	9.92	4.38	4.66	4.62	36.07	12.12	9.57	-38.16	-383.33	101.90	20.64
Long-Term Debt to EBITDA	11.08	4.82	5.20	5.22	38.28	12.78	9.91	-39.59	-403.78	106.56	23.03
Debt to NOPAT	41.25	9.83	10.02	10.78	-27.62	-262.56	69.11	-14.51	-20.10	-45.24	25.82
Net Debt to NOPAT	36.82	8.91	8.98	9.54	-25.94	-248.17	66.49	-13.94	-19.01	-43.27	23.14
Long-Term Debt to NOPAT	41.15	9.80	10.02	10.78	-27.53	-261.68	68.87	-14.46	-20.03	-45.24	25.82
Altman Z-Score	1.11	1.77	1.80	1.44	0.60	0.68	0.55	0.05	-0.54	-0.43	0.58
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	27.83%	63.15%	91.36%	475.19%	-98.01%	-58.40%	-128.24%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.93	2.32	2.69	2.72	1.72	1.72	1.64	1.77	2.01	2.83	3.88
Quick Ratio	2.04	1.61	1.87	1.84	1.12	1.03	0.87	0.74	0.77	0.53	0.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,529	840	401	648	-6,142	639	483	1,329	1,712	3,532	-804
Operating Cash Flow to CapEx	616.22%	996.76%	926.22%	711.96%	581.85%	375.39%	103.38%	187.75%	0.00%	1,088.05%	535.49%
Free Cash Flow to Firm to Interest Expense	-10.78	3.03	1.56	2.68	-10.64	1.11	0.86	2.26	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	1.39	2.31	2.28	2.04	1.03	0.75	0.22	0.32	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	1.17	2.08	2.04	1.76	0.86	0.55	0.01	0.15	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.61	0.67	0.64	0.67	0.79	0.60	0.50	0.46	0.18	0.15	0.21
Accounts Receivable Turnover	5.27	5.52	4.93	5.35	6.65	5.30	4.46	4.27	2.12	3.32	6.41
Inventory Turnover	6.09	6.33	6.22	6.39	8.20	5.51	3.40	2.71	0.85	1.19	2.74
Fixed Asset Turnover	9.31	9.81	9.68	9.95	14.21	11.98	10.05	9.21	3.60	5.36	27.44
Accounts Payable Turnover	10.29	8.08	6.70	7.02	7.68	5.27	3.96	4.12	1.90	3.42	5.80
Days Sales Outstanding (DSO)	69.26	66.18	74.08	68.28	54.87	68.93	81.80	85.46	172.35	110.10	56.93
Days Inventory Outstanding (DIO)	59.97	57.70	58.69	57.09	44.52	66.25	107.21	134.93	431.26	306.04	133.44
Days Payable Outstanding (DPO)	35.48	45.19	54.50	51.98	47.53	69.26	92.21	88.53	192.25	106.59	62.98
Cash Conversion Cycle (CCC)	93.75	78.68	78.27	73.40	51.86	65.91	96.80	131.85	411.35	309.55	127.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,903	5,528	5,563	5,285	11,071	10,396	10,050	8,066	5,891	2,155	3,240
Invested Capital Turnover	0.83	0.86	0.82	0.84	1.02	0.79	0.66	0.64	0.27	0.34	0.72
Increase / (Decrease) in Invested Capital	2,656	-376	35	-279	5,786	-675	-346	-1,984	-2,174	-3,737	1,085
Enterprise Value (EV)	9,617	11,311	11,132	6,678	12,990	12,702	12,464	11,760	10,538	11,186	11,801
Market Capitalization	4,936	7,177	7,217	3,151	2,756	2,662	2,258	1,531	598	1,125	4,017
Book Value per Share	$6.41	$7.23	$8.64	$9.14	$4.31	$1.79	($0.77)	($7.42)	($14.26)	($16.01)	($4.53)
Tangible Book Value per Share	($18.96)	($16.45)	($15.07)	($12.73)	($45.81)	($43.20)	($41.15)	($36.16)	($34.81)	($24.06)	($11.77)
Total Capital	6,466	5,956	6,017	5,743	11,669	10,917	10,410	9,056	7,416	7,010	7,535
Total Debt	5,244	4,562	4,369	3,986	9,832	9,521	9,511	9,502	9,279	9,238	7,260
Total Long-Term Debt	5,231	4,550	4,369	3,986	9,800	9,489	9,479	9,470	9,247	9,238	7,260
Net Debt	4,681	4,134	3,915	3,528	9,234	8,999	9,150	9,129	8,778	8,834	6,506
Capital Expenditures (CapEx)	53	64	63	69	103	116	118	101	-11	25	60
Debt-free, Cash-free Net Working Capital (DFCFNWC)	769	720	766	729	904	911	1,069	1,278	952	1,851	3,546
Debt-free Net Working Capital (DFNWC)	1,332	1,148	1,220	1,187	1,502	1,433	1,429	1,651	1,453	2,255	4,301
Net Working Capital (NWC)	1,320	1,136	1,220	1,187	1,470	1,401	1,397	1,619	1,421	2,255	4,301
Net Nonoperating Expense (NNE)	198	241	242	229	574	537	600	632	1,045	111	-2,003
Net Nonoperating Obligations (NNO)	4,681	4,134	3,915	3,528	9,234	8,999	9,150	8,511	7,754	4,384	2,965
Total Depreciation and Amortization (D&A)	304	399	378	358	771	823	786	696	561	371	277
Debt-free, Cash-free Net Working Capital to Revenue	20.20%	14.63%	16.80%	15.96%	10.83%	10.80%	15.87%	22.07%	51.09%	133.86%	183.59%
Debt-free Net Working Capital to Revenue	34.98%	23.33%	26.75%	25.99%	18.00%	16.99%	21.21%	28.51%	77.93%	163.08%	222.65%
Net Working Capital to Revenue	34.65%	23.07%	26.75%	25.99%	17.61%	16.61%	20.74%	27.96%	76.22%	163.08%	222.65%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.37)	$1.16	$1.01	$0.73	($5.02)	($3.20)	($2.55)	($6.49)	($7.17)	($1.78)	$10.09
Adjusted Weighted Average Basic Shares Outstanding	189.88M	192.47M	192.43M	192.02M	193.70M	196.80M	203.60M	207.40M	210.90M	214.40M	219.50M
Adjusted Diluted Earnings per Share	($0.37)	$1.13	$0.98	$0.72	($5.02)	($3.20)	($2.55)	($6.49)	($7.17)	($1.78)	$9.63
Adjusted Weighted Average Diluted Shares Outstanding	189.88M	196.46M	196.81M	195.33M	193.70M	196.80M	203.60M	207.40M	210.90M	214.40M	230M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	191.49M	193.95M	190.97M	192.38M	194.64M	200.83M	204.62M	208.46M	212.27M	216.56M	225.46M
Normalized Net Operating Profit after Tax (NOPAT)	211	531	476	418	-31	170	197	158	-111	-179	47
Normalized NOPAT Margin	5.55%	10.78%	10.45%	9.15%	-0.38%	2.02%	2.93%	2.73%	-5.93%	-12.91%	2.44%
Pre Tax Income Margin	-1.63%	5.54%	4.60%	3.74%	-12.87%	-7.76%	-5.78%	-26.28%	-30.74%	-19.74%	2.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.72	1.96	1.80	1.68	-0.89	-0.14	0.30	-1.59	0.00	0.00	0.00
NOPAT to Interest Expense	0.54	1.67	1.70	1.53	-0.62	-0.06	0.25	-1.11	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.49	1.73	1.55	1.39	-1.07	-0.34	0.09	-1.76	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.32	1.44	1.45	1.24	-0.79	-0.26	0.03	-1.28	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-4.38%	-2.49%	-9.30%	-1.16%	0.00%	0.00%	0.77%
Augmented Payout Ratio	0.00%	0.00%	90.30%	0.00%	-4.38%	-2.49%	-9.30%	-1.16%	0.00%	0.00%	0.77%

This table displays calculated financial ratios and metrics derived from Vistance Networks' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	211,919,401.00	212,058,471.00	212,270,576.00	212,276,658.00	215,850,184.00	215,878,782.00	216,557,148.00	216,597,038.00	221,525,707.00	-	225,462,013.00
DEI Adjusted Shares Outstanding	211,919,401.00	212,058,471.00	212,270,576.00	212,276,658.00	215,850,184.00	215,878,782.00	216,557,148.00	216,597,038.00	221,525,707.00	-	225,462,013.00
DEI Earnings Per Adjusted Shares Outstanding	-3.98	-2.82	-1.65	0.13	-0.23	0.07	3.54	0.07	0.41	-	24.42
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-55.77%	-117.83%	-45.87%	-33.69%	2.73%	32.29%	23.45%	31.75%	50.59%	-32.91%	21.57%
EBITDA Growth	-178.40%	65.40%	-82.67%	-22.02%	169.01%	3.23%	232.08%	60.24%	107.59%	-64.40%	13.46%
EBIT Growth	-348.70%	60.24%	-127.39%	-3.10%	123.83%	10.08%	342.05%	131.20%	214.68%	-43.90%	224.04%
NOPAT Growth	-185.85%	252.52%	-118.11%	-6.92%	125.02%	-179.64%	344.97%	53.17%	200.75%	56.54%	1,134.99%
Net Income Growth	-3,718.78%	47.60%	-9,914.71%	144.22%	96.02%	101.17%	334.94%	-28.38%	428.48%	19,892.65%	602.55%
EPS Growth	-10,050.00%	47.42%	-2,650.00%	123.64%	94.22%	98.95%	274.55%	-53.85%	269.57%	21,100.00%	703.82%
Operating Cash Flow Growth	258.45%	-82.47%	-285.47%	-62.87%	-12.03%	309.88%	-5.18%	51.77%	24.00%	1.22%	-21.24%
Free Cash Flow Firm Growth	476.18%	196.70%	29.74%	18.11%	-12.13%	-20.45%	-25.07%	-20.90%	-79.82%	-155.67%	164.00%
Invested Capital Growth	-24.85%	-26.96%	-22.23%	-20.06%	-24.77%	-63.42%	-19.61%	-19.16%	-3.10%	50.35%	-61.68%
Revenue Q/Q Growth	-33.70%	-331.90%	248.38%	16.95%	2.71%	-252.85%	95.71%	24.81%	17.41%	-234.90%	121.46%
EBITDA Q/Q Growth	-209.36%	-34.89%	159.55%	205.40%	-3.22%	-289.15%	263.62%	47.36%	25.38%	-249.80%	111.56%
EBIT Q/Q Growth	-500.80%	-17.88%	76.71%	287.60%	-1.45%	-544.86%	562.59%	79.18%	34.14%	-303.43%	104.22%
NOPAT Q/Q Growth	-515.89%	540.97%	79.93%	267.09%	11.82%	-1,503.45%	423.67%	4.48%	119.55%	-302.79%	127.07%
Net Income Q/Q Growth	-725.40%	29.88%	42.57%	113.31%	-174.32%	120.61%	2,327.24%	-95.94%	240.88%	1,154.15%	305.15%
EPS Q/Q Growth	-623.64%	28.39%	42.11%	107.88%	-276.92%	86.96%	3,100.00%	-97.92%	550.00%	1,515.38%	267.46%
Operating Cash Flow Q/Q Growth	1.46%	-51.15%	-362.09%	128.59%	140.35%	127.60%	-167.25%	141.25%	96.37%	85.80%	-180.55%
Free Cash Flow Firm Q/Q Growth	46.85%	55.97%	-4.40%	-6.58%	9.25%	41.20%	168.08%	-1.37%	-72.12%	-489.50%	328.28%
Invested Capital Q/Q Growth	-11.60%	-21.68%	14.84%	0.54%	-16.81%	-61.92%	2.00%	1.11%	-0.29%	-40.92%	-35.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.09%	0.00%	32.76%	37.87%	40.21%	0.00%	42.13%	42.63%	40.98%	0.00%	49.53%
EBITDA Margin	-24.84%	0.00%	6.78%	17.71%	16.69%	0.00%	18.24%	21.54%	23.00%	0.00%	13.76%
Operating Margin	-38.77%	0.00%	-6.07%	8.68%	9.44%	0.00%	12.05%	17.00%	18.46%	0.00%	5.02%
EBIT Margin	-38.01%	0.00%	-5.73%	9.19%	8.82%	0.00%	11.23%	16.12%	18.42%	0.00%	5.47%
Profit (Net Income) Margin	-78.67%	0.00%	-37.04%	4.21%	-3.05%	0.00%	70.49%	2.29%	6.65%	0.00%	1,167.44%
Tax Burden Percent	145.82%	-1,605.25%	154.71%	-64.72%	47.14%	8.35%	-1,765.77%	44.92%	72.51%	-1,123.55%	11,845.16%
Interest Burden Percent	141.93%	-7.67%	418.02%	-70.87%	-73.38%	-19.18%	-35.55%	31.64%	49.80%	19.81%	180.23%
Effective Tax Rate	0.00%	336.74%	0.00%	0.00%	0.00%	-133.17%	0.00%	58.47%	28.50%	0.00%	-398.28%
Return on Invested Capital (ROIC)	-15.23%	0.00%	-2.09%	2.59%	3.31%	0.00%	6.10%	5.45%	12.56%	0.00%	13.41%
ROIC Less NNEP Spread (ROIC-NNEP)	-21.16%	0.00%	-5.37%	2.37%	2.05%	0.00%	14.92%	4.61%	11.07%	0.00%	268.06%
Return on Net Nonoperating Assets (RNNOA)	486.94%	0.00%	37.67%	-16.29%	-9.86%	0.00%	-67.58%	-21.75%	-49.87%	0.00%	344.85%
Return on Equity (ROE)	471.71%	0.00%	35.58%	-13.70%	-6.56%	0.00%	-61.47%	-16.30%	-37.31%	0.00%	358.26%
Cash Return on Invested Capital (CROIC)	20.51%	24.54%	19.24%	16.41%	26.86%	87.80%	26.85%	27.90%	45.38%	-29.80%	93.42%
Operating Return on Assets (OROA)	-16.39%	0.00%	-2.18%	3.00%	3.08%	0.00%	6.14%	9.25%	11.66%	0.00%	1.70%
Return on Assets (ROA)	-33.92%	0.00%	-14.09%	1.38%	-1.06%	0.00%	38.53%	1.31%	4.21%	0.00%	363.35%
Return on Common Equity (ROCE)	1,793.55%	0.00%	67.36%	-25.91%	-11.03%	0.00%	-104.54%	-28.42%	-66.54%	0.00%	222.80%
Return on Equity Simple (ROE_SIMPLE)	81.71%	0.00%	55.35%	0.00%	0.00%	0.00%	-31.48%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-286	1,261	-38	64	72	-1,004	94	98	215	-436	118
NOPAT Margin	-27.14%	0.00%	-4.25%	6.07%	6.61%	0.00%	8.43%	7.06%	13.20%	0.00%	25.03%
Net Nonoperating Expense Percent (NNEP)	5.92%	22.65%	3.28%	0.22%	1.26%	-16.66%	-8.81%	0.85%	1.49%	-48.87%	-254.66%
Return On Investment Capital (ROIC_SIMPLE)	-	20.16%	-0.64%	1.07%	1.20%	-17.36%	2.00%	2.04%	4.38%	-6.97%	2.57%
Cost of Revenue to Revenue	63.91%	0.00%	67.24%	62.13%	59.79%	0.00%	57.87%	57.37%	59.02%	0.00%	50.47%
SG&A Expenses to Revenue	17.70%	0.00%	19.44%	17.75%	18.80%	0.00%	17.46%	15.53%	13.92%	0.00%	23.15%
R&D to Revenue	8.11%	0.00%	9.39%	6.89%	7.21%	0.00%	7.54%	6.55%	5.85%	0.00%	12.34%
Operating Expenses to Revenue	74.86%	0.00%	38.83%	29.20%	30.76%	0.00%	30.08%	25.63%	22.51%	0.00%	44.51%
Earnings before Interest and Taxes (EBIT)	-400	-472	-52	97	95	-424	125	224	300	-611	26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-262	-353	61	187	181	-342	203	299	375	-562	65
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.89
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.36
Price to Revenue (P/Rev)	0.14	0.32	0.07	0.08	0.40	0.81	0.26	0.38	0.65	2.08	2.04
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	1.56	2.48	3.97	1.81	0.59
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	64.01%	40.29%	25.17%	55.14%	169.47%
Enterprise Value to Invested Capital (EV/IC)	1.43	1.79	1.53	1.53	2.02	5.19	1.68	1.77	2.05	3.64	0.76
Enterprise Value to Revenue (EV/Rev)	2.18	5.65	2.73	3.18	3.46	8.09	2.07	2.05	2.12	6.11	0.79
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	35.03	129.02	11.74	10.92	10.37	37.44	4.93
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	20.64	17.07	14.53	308.93	18.79
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	29.35	23.58	4.78	41.97	9.97
Enterprise Value to Operating Cash Flow (EV/OCF)	17.40	35.45	62.62	130.29	181.12	40.96	34.66	33.54	35.23	36.55	5.63
Enterprise Value to Free Cash Flow (EV/FCFF)	5.96	6.15	6.97	8.27	6.45	3.17	5.58	5.67	4.45	0.00	0.45
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-6.98	-4.98	-4.31	-4.37	-4.39	-4.15	-5.56	-6.15	-6.81	26.44	0.00
Long-Term Debt to Equity	-6.96	-4.96	-4.29	-3.75	-3.77	-4.15	-5.56	-6.15	-6.81	26.44	0.00
Financial Leverage	-23.02	-7.05	-7.02	-6.87	-4.81	-2.97	-4.53	-4.72	-4.51	-3.76	1.29
Leverage Ratio	-28.66	-9.11	-7.78	-7.66	-5.46	-4.42	-4.67	-5.01	-5.27	-9.27	3.94
Compound Leverage Factor	-40.68	0.70	-32.53	5.43	4.01	0.85	1.66	-1.59	-2.62	-1.84	7.09
Debt to Total Capital	116.71%	125.12%	130.23%	129.71%	129.49%	131.80%	121.95%	119.43%	117.22%	96.36%	0.00%
Short-Term Debt to Total Capital	0.40%	0.43%	0.45%	18.27%	18.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	116.31%	124.68%	129.78%	111.44%	111.24%	131.80%	121.95%	119.43%	117.22%	96.36%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	14.25%	15.67%	16.54%	16.70%	16.91%	17.51%	20.94%	20.78%	20.66%	16.97%	0.00%
Common Equity to Total Capital	-30.97%	-40.79%	-46.77%	-46.41%	-46.40%	-49.31%	-42.89%	-40.20%	-37.89%	-13.33%	100.00%
Debt to EBITDA	-25.48	-405.18	-145.17	-79.54	28.47	106.56	9.30	8.13	6.68	23.03	0.00
Net Debt to EBITDA	-24.07	-383.33	-139.58	-76.58	27.27	101.90	8.67	7.49	6.03	20.64	0.00
Long-Term Debt to EBITDA	-25.39	-403.78	-144.67	-68.34	24.46	106.56	9.30	8.13	6.68	23.03	0.00
Debt to NOPAT	-13.60	-20.10	-20.79	-20.57	-99.16	-45.24	23.25	17.56	3.08	25.82	0.00
Net Debt to NOPAT	-12.85	-19.01	-19.99	-19.80	-94.96	-43.27	21.66	16.18	2.78	23.14	0.00
Long-Term Debt to NOPAT	-13.56	-20.03	-20.72	-17.67	-85.18	-45.24	23.25	17.56	3.08	25.82	0.00
Altman Z-Score	-0.02	-0.50	-0.24	-0.40	-0.23	-0.48	0.07	0.23	0.48	0.35	4.54
Noncontrolling Interest Sharing Ratio	-280.22%	0.00%	-89.29%	-89.10%	-68.21%	0.00%	-70.06%	-74.33%	-78.34%	0.00%	37.81%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.08	2.01	2.30	1.04	1.40	2.83	2.19	2.18	2.25	3.88	6.67
Quick Ratio	1.08	0.77	1.14	0.54	0.43	0.53	1.28	1.30	1.41	0.74	5.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,202	3,435	1,896	1,771	1,935	2,732	1,421	1,401	391	-1,521	3,473
Operating Cash Flow to CapEx	1,632.94%	0.00%	-2,961.67%	958.49%	1,822.39%	3,806.85%	-1,205.81%	611.90%	923.17%	1,090.31%	-10,300.00%
Free Cash Flow to Firm to Interest Expense	12.86	0.00	11.31	10.57	11.52	0.00	8.18	8.98	2.53	0.00	0.00
Operating Cash Flow to Interest Expense	0.81	0.00	-1.06	0.30	0.73	0.00	-1.08	0.49	0.98	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.76	0.00	-1.10	0.27	0.69	0.00	-1.17	0.41	0.87	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.43	0.18	0.38	0.33	0.35	0.15	0.55	0.57	0.63	0.21	0.31
Accounts Receivable Turnover	3.49	2.12	3.47	2.78	3.64	3.32	5.25	4.91	6.21	6.41	3.30
Inventory Turnover	1.93	0.85	1.85	1.69	1.89	1.19	2.95	3.01	3.80	2.74	1.86
Fixed Asset Turnover	8.55	3.60	7.34	6.52	7.29	5.36	11.08	12.27	15.13	27.44	10.13
Accounts Payable Turnover	3.12	1.90	3.64	3.30	3.54	3.42	5.78	5.47	6.41	5.80	3.24
Days Sales Outstanding (DSO)	104.60	172.35	105.10	131.51	100.20	110.10	69.46	74.32	58.80	56.93	110.63
Days Inventory Outstanding (DIO)	189.33	431.26	196.80	216.16	193.63	306.04	123.86	121.16	95.94	133.44	196.64
Days Payable Outstanding (DPO)	116.81	192.25	100.38	110.64	103.21	106.59	63.11	66.67	56.92	62.98	112.73
Cash Conversion Cycle (CCC)	177.11	411.35	201.52	237.04	190.62	309.55	130.21	128.81	97.81	127.39	194.54
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,523	5,891	6,766	6,802	5,659	2,155	5,439	5,499	5,484	3,240	2,085
Invested Capital Turnover	0.56	0.27	0.49	0.43	0.50	0.34	0.72	0.77	0.95	0.72	0.54
Increase / (Decrease) in Invested Capital	-2,488	-2,174	-1,934	-1,707	-1,864	-3,737	-1,327	-1,303	-175	1,085	-3,355
Enterprise Value (EV)	10,725	10,538	10,376	10,384	11,410	11,186	9,146	9,733	11,258	11,801	1,593
Market Capitalization	712	598	278	261	1,319	1,125	1,150	1,793	3,429	4,017	4,103
Book Value per Share	($11.75)	($14.26)	($15.70)	($15.63)	($15.39)	($16.01)	($11.77)	($11.27)	($10.58)	($4.53)	$20.38
Tangible Book Value per Share	($36.80)	($34.81)	($39.25)	($38.93)	($34.77)	($24.06)	($30.48)	($29.92)	($28.58)	($11.77)	$13.42
Total Capital	8,042	7,416	7,123	7,150	7,161	7,010	5,941	6,070	6,189	7,535	4,595
Total Debt	9,385	9,279	9,277	9,275	9,273	9,238	7,245	7,250	7,255	7,260	0.00
Total Long-Term Debt	9,353	9,247	9,245	7,968	7,966	9,238	7,245	7,250	7,255	7,260	0.00
Net Debt	8,866	8,778	8,919	8,929	8,881	8,834	6,751	6,679	6,550	6,506	-2,510
Capital Expenditures (CapEx)	8.50	-13	6.00	5.30	6.70	7.30	16	13	16	26	2.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,181	952	1,033	1,054	1,888	1,851	755	792	854	3,546	315
Debt-free Net Working Capital (DFNWC)	1,700	1,453	1,391	1,400	2,280	2,255	1,249	1,363	1,560	4,301	2,825
Net Working Capital (NWC)	1,668	1,421	1,359	94	973	2,255	1,249	1,363	1,560	4,301	2,825
Net Nonoperating Expense (NNE)	543	1,842	295	20	105	-1,011	-690	66	107	-1,796	-5,390
Net Nonoperating Obligations (NNO)	8,866	7,754	8,919	8,927	7,771	4,384	6,743	6,679	6,550	2,965	-2,510
Total Depreciation and Amortization (D&A)	139	119	113	90	85	83	78	75	75	49	39
Debt-free, Cash-free Net Working Capital to Revenue	24.00%	51.09%	27.18%	32.28%	57.28%	133.86%	17.10%	16.67%	16.12%	183.59%	15.64%
Debt-free Net Working Capital to Revenue	34.55%	77.93%	36.58%	42.87%	69.18%	163.08%	28.27%	28.69%	29.43%	222.65%	140.19%
Net Working Capital to Revenue	33.90%	76.22%	35.73%	2.87%	29.53%	163.08%	28.27%	28.69%	29.43%	222.65%	140.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($3.98)	($2.86)	($1.77)	$0.13	($0.23)	($0.03)	$3.55	$0.07	$0.41	$6.06	$24.45
Adjusted Weighted Average Basic Shares Outstanding	211.90M	210.90M	212.30M	213.50M	215.90M	214.40M	216.30M	218.10M	221.50M	219.50M	225.20M
Adjusted Diluted Earnings per Share	($3.98)	($2.85)	($1.77)	$0.13	($0.23)	($0.03)	$2.88	$0.06	$0.39	$6.30	$23.15
Adjusted Weighted Average Diluted Shares Outstanding	211.90M	210.90M	212.30M	215.50M	215.90M	214.40M	271.90M	227.30M	277.70M	230M	237.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	212.06M	212.27M	212.28M	215.85M	215.88M	216.56M	216.60M	221.53M	221.55M	225.46M	225.57M
Normalized Net Operating Profit after Tax (NOPAT)	28	-385	-17	65	71	-297	102	167	216	-434	23
Normalized NOPAT Margin	2.62%	0.00%	-1.87%	6.13%	6.55%	0.00%	9.14%	12.05%	13.28%	0.00%	4.94%
Pre Tax Income Margin	-53.95%	0.00%	-23.94%	-6.51%	-6.47%	0.00%	-3.99%	5.10%	9.17%	0.00%	9.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.34	0.00	-0.31	0.58	0.57	0.00	0.72	1.43	1.94	0.00	0.00
NOPAT to Interest Expense	-1.67	0.00	-0.23	0.38	0.43	0.00	0.54	0.63	1.39	0.00	0.00
EBIT Less CapEx to Interest Expense	-2.39	0.00	-0.34	0.55	0.53	0.00	0.63	1.35	1.84	0.00	0.00
NOPAT Less CapEx to Interest Expense	-1.72	0.00	-0.26	0.35	0.39	0.00	0.45	0.55	1.29	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.77%	0.28%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.77%	0.28%

Financials Breakdown Chart

Key Financial Trends

Here are the most material quarterly trends for VISN from the provided four-year dataset. The company shows improving cash flow and operating profitability through mid-2025, but faces an outsized debt load and a large, one-time gain in Q4 2025 that can distort annual comparisons. Below are the 10 most important points, split into positive, neutral, then negative indicators.

Revenue momentum into 2025: Operating revenue rose from about $1.11B in Q1 2025 to about $1.63B in Q3 2025, signaling improving top-line demand leading into the third quarter.
Gross profit trend improving through mid-2025: Total gross profit progressed from roughly $468.6M (Q1 2025) to $667.8M (Q3 2025), indicating improving gross margins during this period.
Operating profitability recovers in the middle of 2025: Total operating income turned positive in Q2 2025 ($236.0M) and remained strong in Q3 2025 ($300.9M), showing a clear improvement in core operations.
Operating cash flow improves and turns positive in 2025: Net cash from continuing operating activities climbs from $77.1M (Q2 2025) to $151.4M (Q3 2025) and reaches $281.3M in Q4 2025, underscoring stronger cash generation from operations.
Liquidity shown by year-end cash flow: The company reports a positive net change in cash and equivalents of about $217.5M in Q4 2025, suggesting improved liquidity heading into year-end.
Debt level remains substantial but relatively steady: Long-term debt sits around $7.25B across mid-2025 (e.g., Q2–Q3 2025), indicating a high leverage backdrop that investors should monitor.
Q4 2025 includes a non-recurring gain from discontinued operations: Net income shows a large discontinued-operations contribution (e.g., a sizable gain in Q4 2025), which can inflate quarterly results but is not indicative of ongoing profitability.
Working capital position appears positive but consistency varies: Total current assets run in the ~$2.5–$3.0B range with current liabilities around ~$1.0–$1.25B in 2025, suggesting solid near-term liquidity on a quarterly basis.
Q4 2025 revenue and gross margin deteriorate sharply: Q4 2025 shows operating revenue of about $-2.20B and gross profit of about $-772.2M, indicating a severe quarterly downturn or a data-signing inconsistency that materially hurts near-term margins.
Persistent negative equity and high leverage threaten balance sheet strength: Negative total equity signals substantial accumulated losses, combined with large long-term debt, raising concerns about capital structure and future financing flexibility.

05/07/26 03:07 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Vistance Networks' Financials

When does Vistance Networks' financial year end?

According to the most recent income statement we have on file, Vistance Networks' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Vistance Networks' net income changed over the last 10 years?

Vistance Networks' net income appears to be on a downward trend, with a most recent value of $2.28 billion in 2025, falling from -$70.88 million in 2015. The previous period was -$315.50 million in 2024. Find out what analysts predict for Vistance Networks in the coming months.

What is Vistance Networks' operating income?

Vistance Networks' total operating income in 2025 was $47.60 million, based on the following breakdown:

Total Gross Profit: $955.90 million
Total Operating Expenses: $908.30 million

How has Vistance Networks' revenue changed over the last 10 years?

Over the last 10 years, Vistance Networks' total revenue changed from $3.81 billion in 2015 to $1.93 billion in 2025, a change of -49.3%.

How much debt does Vistance Networks have?

Vistance Networks' total liabilities were at $9.10 billion at the end of 2025, a 17.1% decrease from 2024, and a 44.8% increase since 2015.

How much cash does Vistance Networks have?

In the past 10 years, Vistance Networks' cash and equivalents has ranged from $360.30 million in 2021 to $754.40 million in 2025, and is currently $754.40 million as of their latest financial filing in 2025.

How has Vistance Networks' book value per share changed over the last 10 years?

Over the last 10 years, Vistance Networks' book value per share changed from 6.41 in 2015 to -4.53 in 2025, a change of -170.7%.

Related Companies

Financial statements for NASDAQ:VISN last updated on 5/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Vistance Networks (VISN) Financials

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Vistance Networks (VISN) Financials

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