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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and Pacira BioSciences, Inc. (PCRX). Click either name above to swap in a different company.
Pacira BioSciences, Inc. is the larger business by last-quarter revenue ($177.4M vs $111.5M, roughly 1.6× AVIAT NETWORKS, INC.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs 1.6%, a 3.5% gap on every dollar of revenue. On growth, Pacira BioSciences, Inc. posted the faster year-over-year revenue change (5.0% vs -5.7%). Over the past eight quarters, AVIAT NETWORKS, INC.'s revenue compounded faster (0.3% CAGR vs -0.2%).
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.
Pacira BioSciences, Inc. is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain management solutions. Its core product line targets post-surgical pain relief for patients, serving hospitals, ambulatory surgery centers and other healthcare providers primarily in the U.S., with ongoing expansion efforts in select international markets.
AVNW vs PCRX — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $177.4M |
| Net Profit | $5.7M | $2.9M |
| Gross Margin | 32.4% | — |
| Operating Margin | 6.5% | 3.9% |
| Net Margin | 5.1% | 1.6% |
| Revenue YoY | -5.7% | 5.0% |
| Net Profit YoY | 27.2% | — |
| EPS (diluted) | $0.44 | $0.07 |
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.
| Q1 26 | — | $177.4M | ||
| Q4 25 | $111.5M | $196.9M | ||
| Q3 25 | $107.3M | $179.5M | ||
| Q2 25 | $115.3M | $181.1M | ||
| Q1 25 | $112.6M | $168.9M | ||
| Q4 24 | $118.2M | $187.3M | ||
| Q3 24 | $88.4M | $168.6M | ||
| Q2 24 | $116.7M | $178.0M |
| Q1 26 | — | $2.9M | ||
| Q4 25 | $5.7M | — | ||
| Q3 25 | $162.0K | $5.4M | ||
| Q2 25 | $5.2M | $-4.8M | ||
| Q1 25 | $3.5M | $4.8M | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $-11.9M | $-143.5M | ||
| Q2 24 | $1.5M | $18.9M |
| Q1 26 | — | — | ||
| Q4 25 | 32.4% | 79.5% | ||
| Q3 25 | 33.2% | 80.9% | ||
| Q2 25 | 34.2% | 77.4% | ||
| Q1 25 | 34.9% | 79.7% | ||
| Q4 24 | 34.6% | 78.7% | ||
| Q3 24 | 22.4% | 76.9% | ||
| Q2 24 | 35.3% | 75.1% |
| Q1 26 | — | 3.9% | ||
| Q4 25 | 6.5% | 1.2% | ||
| Q3 25 | 4.8% | 3.5% | ||
| Q2 25 | 7.7% | 4.7% | ||
| Q1 25 | 8.3% | 1.2% | ||
| Q4 24 | 6.7% | 13.2% | ||
| Q3 24 | -17.6% | -82.8% | ||
| Q2 24 | 4.7% | 15.9% |
| Q1 26 | — | 1.6% | ||
| Q4 25 | 5.1% | — | ||
| Q3 25 | 0.2% | 3.0% | ||
| Q2 25 | 4.5% | -2.7% | ||
| Q1 25 | 3.1% | 2.8% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | -13.4% | -85.1% | ||
| Q2 24 | 1.3% | 10.6% |
| Q1 26 | — | $0.07 | ||
| Q4 25 | $0.44 | $0.05 | ||
| Q3 25 | $0.01 | $0.12 | ||
| Q2 25 | $0.42 | $-0.11 | ||
| Q1 25 | $0.27 | $0.10 | ||
| Q4 24 | $0.35 | $0.38 | ||
| Q3 24 | $-0.94 | $-3.11 | ||
| Q2 24 | $0.11 | $0.39 |
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 | $144.3M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $653.9M |
| Total Assets | $659.4M | $1.2B |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $144.3M | ||
| Q4 25 | $86.5M | $238.4M | ||
| Q3 25 | $64.8M | $246.3M | ||
| Q2 25 | $59.7M | $445.9M | ||
| Q1 25 | $49.4M | $493.6M | ||
| Q4 24 | $52.6M | $484.6M | ||
| Q3 24 | $51.0M | $453.8M | ||
| Q2 24 | $64.6M | $404.2M |
| Q1 26 | — | — | ||
| Q4 25 | $105.4M | $372.2M | ||
| Q3 25 | $106.5M | $376.7M | ||
| Q2 25 | $87.6M | $580.5M | ||
| Q1 25 | $73.9M | $583.4M | ||
| Q4 24 | $74.9M | $585.3M | ||
| Q3 24 | $83.4M | — | ||
| Q2 24 | $48.4M | — |
| Q1 26 | — | $653.9M | ||
| Q4 25 | $271.6M | $693.1M | ||
| Q3 25 | $263.6M | $727.2M | ||
| Q2 25 | $263.2M | $757.8M | ||
| Q1 25 | $256.1M | $798.5M | ||
| Q4 24 | $249.6M | $778.3M | ||
| Q3 24 | $247.1M | $749.6M | ||
| Q2 24 | $255.9M | $879.3M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $659.4M | $1.3B | ||
| Q3 25 | $643.3M | $1.3B | ||
| Q2 25 | $633.3M | $1.5B | ||
| Q1 25 | $628.3M | $1.6B | ||
| Q4 24 | $594.1M | $1.6B | ||
| Q3 24 | $590.9M | $1.5B | ||
| Q2 24 | $535.2M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | 0.39× | 0.54× | ||
| Q3 25 | 0.40× | 0.52× | ||
| Q2 25 | 0.33× | 0.77× | ||
| Q1 25 | 0.29× | 0.73× | ||
| Q4 24 | 0.30× | 0.75× | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.19× | — |
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 | — |
| Free Cash FlowOCF − Capex | $22.5M | — |
| FCF MarginFCF / Revenue | 20.2% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $23.9M | $43.7M | ||
| Q3 25 | $-11.7M | $60.8M | ||
| Q2 25 | $10.5M | $12.0M | ||
| Q1 25 | $1.6M | $35.5M | ||
| Q4 24 | $20.8M | $33.1M | ||
| Q3 24 | $-27.2M | $53.9M | ||
| Q2 24 | $8.3M | $53.2M |
| Q1 26 | — | — | ||
| Q4 25 | $22.5M | $43.5M | ||
| Q3 25 | $-13.5M | $57.0M | ||
| Q2 25 | $8.2M | $9.3M | ||
| Q1 25 | $-1.2M | $26.9M | ||
| Q4 24 | $18.3M | $31.0M | ||
| Q3 24 | $-32.6M | $49.8M | ||
| Q2 24 | $7.5M | $51.6M |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 22.1% | ||
| Q3 25 | -12.6% | 31.7% | ||
| Q2 25 | 7.1% | 5.1% | ||
| Q1 25 | -1.0% | 15.9% | ||
| Q4 24 | 15.5% | 16.6% | ||
| Q3 24 | -36.8% | 29.6% | ||
| Q2 24 | 6.4% | 29.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 0.1% | ||
| Q3 25 | 1.6% | 2.2% | ||
| Q2 25 | 2.0% | 1.5% | ||
| Q1 25 | 2.5% | 5.1% | ||
| Q4 24 | 2.1% | 1.1% | ||
| Q3 24 | 6.1% | 2.4% | ||
| Q2 24 | 0.7% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | 11.20× | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.46× | 7.37× | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.37× | 2.82× |
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% |
PCRX
| EXPAREL | $143.3M | 81% |
| ZILRETTA | $26.8M | 15% |
| iovera° | $6.2M | 3% |
| Bupivacaine liposome injectable suspension | $1.2M | 1% |
