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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and OLAPLEX HOLDINGS, INC. (OLPX). Click either name above to swap in a different company.
AVIAT NETWORKS, INC. is the larger business by last-quarter revenue ($111.5M vs $105.1M, roughly 1.1× OLAPLEX HOLDINGS, INC.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs -12.5%, a 17.6% gap on every dollar of revenue. On growth, OLAPLEX HOLDINGS, INC. posted the faster year-over-year revenue change (4.3% vs -5.7%). OLAPLEX HOLDINGS, INC. produced more free cash flow last quarter ($32.6M vs $22.5M). Over the past eight quarters, OLAPLEX HOLDINGS, INC.'s revenue compounded faster (3.1% CAGR vs 0.3%).
Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers.
Olaplex Holdings, Inc. is a specialty beauty company developing and selling patented bond-repair hair care products. It runs three core segments: professional salon distribution, direct-to-consumer sales, and third-party retail, serving customers across North America, Europe, and Asia-Pacific with products that repair and protect damaged hair.
AVNW vs OLPX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $105.1M |
| Net Profit | $5.7M | $-13.1M |
| Gross Margin | 32.4% | 68.0% |
| Operating Margin | 6.5% | -4.3% |
| Net Margin | 5.1% | -12.5% |
| Revenue YoY | -5.7% | 4.3% |
| Net Profit YoY | 27.2% | -48.9% |
| EPS (diluted) | $0.44 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $111.5M | $105.1M | ||
| Q3 25 | $107.3M | $114.6M | ||
| Q2 25 | $115.3M | $106.3M | ||
| Q1 25 | $112.6M | $97.0M | ||
| Q4 24 | $118.2M | $100.7M | ||
| Q3 24 | $88.4M | $119.1M | ||
| Q2 24 | $116.7M | $103.9M | ||
| Q1 24 | $110.8M | $98.9M |
| Q4 25 | $5.7M | $-13.1M | ||
| Q3 25 | $162.0K | $11.1M | ||
| Q2 25 | $5.2M | $-7.7M | ||
| Q1 25 | $3.5M | $465.0K | ||
| Q4 24 | $4.5M | $-8.8M | ||
| Q3 24 | $-11.9M | $14.8M | ||
| Q2 24 | $1.5M | $5.8M | ||
| Q1 24 | $3.9M | $7.7M |
| Q4 25 | 32.4% | 68.0% | ||
| Q3 25 | 33.2% | 69.1% | ||
| Q2 25 | 34.2% | 71.2% | ||
| Q1 25 | 34.9% | 69.5% | ||
| Q4 24 | 34.6% | 66.3% | ||
| Q3 24 | 22.4% | 68.6% | ||
| Q2 24 | 35.3% | 69.7% | ||
| Q1 24 | 32.5% | 72.1% |
| Q4 25 | 6.5% | -4.3% | ||
| Q3 25 | 4.8% | 3.7% | ||
| Q2 25 | 7.7% | -1.1% | ||
| Q1 25 | 8.3% | 8.7% | ||
| Q4 24 | 6.7% | 3.0% | ||
| Q3 24 | -17.6% | 23.5% | ||
| Q2 24 | 4.7% | 15.7% | ||
| Q1 24 | 5.1% | 19.8% |
| Q4 25 | 5.1% | -12.5% | ||
| Q3 25 | 0.2% | 9.7% | ||
| Q2 25 | 4.5% | -7.3% | ||
| Q1 25 | 3.1% | 0.5% | ||
| Q4 24 | 3.8% | -8.7% | ||
| Q3 24 | -13.4% | 12.4% | ||
| Q2 24 | 1.3% | 5.6% | ||
| Q1 24 | 3.5% | 7.8% |
| Q4 25 | $0.44 | $-0.02 | ||
| Q3 25 | $0.01 | $0.02 | ||
| Q2 25 | $0.42 | $-0.01 | ||
| Q1 25 | $0.27 | $0.00 | ||
| Q4 24 | $0.35 | $-0.01 | ||
| Q3 24 | $-0.94 | $0.02 | ||
| Q2 24 | $0.11 | $0.01 | ||
| Q1 24 | $0.30 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $86.5M | $318.7M |
| Total DebtLower is stronger | $105.4M | $352.3M |
| Stockholders' EquityBook value | $271.6M | $879.4M |
| Total Assets | $659.4M | $1.5B |
| Debt / EquityLower = less leverage | 0.39× | 0.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $318.7M | ||
| Q3 25 | $64.8M | $286.4M | ||
| Q2 25 | $59.7M | $289.3M | ||
| Q1 25 | $49.4M | $580.9M | ||
| Q4 24 | $52.6M | $586.0M | ||
| Q3 24 | $51.0M | $538.8M | ||
| Q2 24 | $64.6M | $507.9M | ||
| Q1 24 | $59.2M | $507.5M |
| Q4 25 | $105.4M | $352.3M | ||
| Q3 25 | $106.5M | $352.1M | ||
| Q2 25 | $87.6M | $351.9M | ||
| Q1 25 | $73.9M | $649.1M | ||
| Q4 24 | $74.9M | $650.5M | ||
| Q3 24 | $83.4M | $651.8M | ||
| Q2 24 | $48.4M | $653.1M | ||
| Q1 24 | $48.9M | $654.4M |
| Q4 25 | $271.6M | $879.4M | ||
| Q3 25 | $263.6M | $888.7M | ||
| Q2 25 | $263.2M | $874.2M | ||
| Q1 25 | $256.1M | $878.3M | ||
| Q4 24 | $249.6M | $874.4M | ||
| Q3 24 | $247.1M | $879.7M | ||
| Q2 24 | $255.9M | $863.3M | ||
| Q1 24 | $256.0M | $855.7M |
| Q4 25 | $659.4M | $1.5B | ||
| Q3 25 | $643.3M | $1.5B | ||
| Q2 25 | $633.3M | $1.5B | ||
| Q1 25 | $628.3M | $1.8B | ||
| Q4 24 | $594.1M | $1.8B | ||
| Q3 24 | $590.9M | $1.8B | ||
| Q2 24 | $535.2M | $1.8B | ||
| Q1 24 | $490.3M | $1.8B |
| Q4 25 | 0.39× | 0.40× | ||
| Q3 25 | 0.40× | 0.40× | ||
| Q2 25 | 0.33× | 0.40× | ||
| Q1 25 | 0.29× | 0.74× | ||
| Q4 24 | 0.30× | 0.74× | ||
| Q3 24 | 0.34× | 0.74× | ||
| Q2 24 | 0.19× | 0.76× | ||
| Q1 24 | 0.19× | 0.76× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $23.9M | $32.7M |
| Free Cash FlowOCF − Capex | $22.5M | $32.6M |
| FCF MarginFCF / Revenue | 20.2% | 31.0% |
| Capex IntensityCapex / Revenue | 1.3% | 0.1% |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $58.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $32.7M | ||
| Q3 25 | $-11.7M | $8.0M | ||
| Q2 25 | $10.5M | $20.9M | ||
| Q1 25 | $1.6M | $-2.9M | ||
| Q4 24 | $20.8M | $49.7M | ||
| Q3 24 | $-27.2M | $33.5M | ||
| Q2 24 | $8.3M | $16.2M | ||
| Q1 24 | $15.3M | $43.7M |
| Q4 25 | $22.5M | $32.6M | ||
| Q3 25 | $-13.5M | $7.9M | ||
| Q2 25 | $8.2M | $20.8M | ||
| Q1 25 | $-1.2M | $-3.0M | ||
| Q4 24 | $18.3M | $49.2M | ||
| Q3 24 | $-32.6M | $33.3M | ||
| Q2 24 | $7.5M | $16.1M | ||
| Q1 24 | $14.8M | $43.3M |
| Q4 25 | 20.2% | 31.0% | ||
| Q3 25 | -12.6% | 6.9% | ||
| Q2 25 | 7.1% | 19.6% | ||
| Q1 25 | -1.0% | -3.1% | ||
| Q4 24 | 15.5% | 48.9% | ||
| Q3 24 | -36.8% | 28.0% | ||
| Q2 24 | 6.4% | 15.5% | ||
| Q1 24 | 13.4% | 43.7% |
| Q4 25 | 1.3% | 0.1% | ||
| Q3 25 | 1.6% | 0.1% | ||
| Q2 25 | 2.0% | 0.1% | ||
| Q1 25 | 2.5% | 0.0% | ||
| Q4 24 | 2.1% | 0.4% | ||
| Q3 24 | 6.1% | 0.1% | ||
| Q2 24 | 0.7% | 0.1% | ||
| Q1 24 | 0.4% | 0.5% |
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | 0.72× | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.46× | -6.27× | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | 2.26× | ||
| Q2 24 | 5.37× | 2.81× | ||
| Q1 24 | 3.96× | 5.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVNW
| Products | $81.2M | 73% |
| Services | $30.3M | 27% |
OLPX
| Sales Channel Directly To Consumer | $43.6M | 42% |
| Sales Channel Through Intermediary Professional | $36.8M | 35% |
| Sales Channel Through Intermediary Specialty Retail | $24.7M | 23% |
