Duyuru • Oct 18
Spirent Communications plc Announces Delisting and Cancellation of Trading of Spirent Shares Further to the announcement made by Keysight Technologies Inc. and Spirent Communications plc ("Spirent") on 15 October 2025 in respect of the Scheme becoming Effective, Spirent on October 17, 2025 announces that, following an application by Spirent,the Financial Conduct Authority has cancelled the listing of Spirent Shares on the Official List and the London Stock Exchange has cancelled the trading of the Spirent Shares on the London Stock Exchange's main market for listed securities, in each case with effect from 7:30 a.m. October 17, 2025 (London time). Duyuru • Oct 09
Spirent Communications plc Announces the Introduction of Benchmarking Capabilities to the Landslide Test Solution Spirent Communications plc announced the introduction of benchmarking capabilities to the award-winning Landslide Test Solution. Cloud-Native Infrastructure Benchmarking further expands the unique capabilities of Spirent Landslide to help service providers accelerate roll-out of cloud-native 5G standalone (SA) networks. The first comprehensive solution for benchmarking, deploying, managing, and optimizing 5G infrastructure performance to ensure networks are ready and capable of supporting 5G CNFs, Landslide will enable service providers to benchmark the infrastructure itself, including CPU, memory, storage, and networking, which is foundational for CNF scalability and resiliency testing. Critical to accelerating 5G SA and 5G-Advanced adoption, the capacity to validate infrastructure readiness before CNF deployment will reduce the risk of degraded quality of service, outages, wasted investments, and delayed service launches. Key Capabilities and Benefits: Infrastructure Benchmarking: First solution to benchmark CPU, memory, storage, and Kubernetes distributions (OpenShift, k3s, AWS EKS) alongside CNF resiliency and scalability testing. Workflow Automation: Embedded automation simplifies benchmarking with configurable workload scenarios. Visualization & Monitoring: Time-series performance tracking via Grafana and Prometheus integration. Complete Lifecycle Validation: Extends Spirent Landslide from CNF functional validation into infrastructure benchmarking, delivering a single, comprehensive platform. Landslide Cloud Infrastructure Benchmarking addresses the organizational and operational realities of cloud-native transformation. By providing shared performance insights across infrastructure and CNF teams, Spirent helps CSPs align engineering efforts, avoid costly outages, and ensure efficient use of resources. Early benchmarking evaluations are already underway with Tier 1 operators in the U.S. with benchmarking being seen as a top priority for operators globally. Duyuru • Jul 01
Spirent Communications plc Appoints Jonathan Silver as Member of the Synthomer plc Audit, Remuneration and Nomination Committees, from 1 July 2025 Spirent Communications plc has been appointed Jonathan Silver an independent Non-Executive Director of Synthomer plc, from 1 July 2025 and will be a member of the Synthomer plc Audit, Remuneration and Nomination Committees, from this date. Duyuru • Jun 25
Spirent Launches Scalable Over-The-Air Solution to Enable True End-To-End Network Testing with Real Handsets Spirent Communications plc announced the launch of the Landslide E20 Over-the-Air (OTA) solution, an innovative, scalable test platform that introduces true end-to-end testing by automating interactions with real handsets in lab environments. The solution enables the validation of app, service, device, and OS performance across 4G, 5G, and Wi-Fi networks, including support for complex scenarios such as mobility and roaming. The telecommunications industry is facing growing pressure to validate handset performance, service quality, and operating system updates before rolling them out on a large scale. Traditional lab setups that emulate portions of the network cannot capture the complete subscriber experience that real devices deliver in the field. Spirent's Landslide E20 OTA solution addresses this critical gap by delivering a solution with integrated software, customizable scripting, and support for dual SIM scenarios. It is the only platform to provide carrier-grade automation and visibility into real handset behavior and is scalable to support hundreds of devices simultaneously. Key capabilities of the Landslide E 20 OTA solution include: End-to-end validation: Complete subscriber experience testing from handset through RAN to core network; Real device automation: API/SDK-based automation that is immune to UI changes to ensure long-term reliability and lower maintenance overhead; Concurrent use-case simulation: Reflects realistic multi-app usage like video streaming and voice calls running simultaneously; Custom test scripting with remote UI control: Allows distributed CSP teams to create, automate, and manage tests for apps unique to their networks without physical lab access; Scalable architecture: Purpose-built rackmount platform designed for carrier-grade lab environments.Landslide E20 OTA is built for mobile network operators, handset manufacturers, and lab automation teams and addresses critical applications including mobile core and RAN validation, device and OS certification, app performance assurance, network slice behavior, 5G/Wi-Fi offload, and roaming scenario testing. It is part of Spirent's lab-to-live assurance strategy, enabling CSPs to validate services in the lab under real conditions before launching and aligning with live network monitoring. By combining OTA lab testing from Landslide with VisionWorks for live mobile network management, Spirent enables continuous validation from development through deployment, uniquely positioning the company as the only vendor delivering solutions for full-lifecycle, real-device service assurance. Duyuru • Jun 03
DoJ Orders Keysight to Sell Assets to Finalise Spirent Deal The US Department of Justice (DoJ) has ordered US electronic design and test solutions specialist Keysight Technologies, Inc. (NYSE:KEYS) to sell key assets of Spirent Communications plc (LSE:SPT) before completing the GBP 1.16 billion (USD 1.57 billion /EUR 1.38 billion) purchase of the UK telecommunications testing company. The DoJ said on June 2, 2025 that its antitrust division has filed a lawsuit to block the merger and has simultaneously submitted a proposed settlement requiring divestiture to resolve competition concerns. To maintain market competitiveness, Keysight must divest Spirent’s high-speed ethernet testing, network security testing, and RF channel emulation units, accounting for roughly 40% of Spirent’s revenue, to rival firm Viavi Solutions Inc. These businesses are vital for sectors such as cloud computing and telecom, which rely on advanced testing tools, according to the statement. Assistant attorney general Abigail Slater said the agreement “ensures continued innovation and fair pricing” in the communications testing market. The public has 60 days to comment on the proposed consent decree before it is potentially finalised in court, the DoJ added. Duyuru • May 22
Spirent Communications plc, Annual General Meeting, Jun 26, 2025 Spirent Communications plc, Annual General Meeting, Jun 26, 2025. Location: the offices of dga group, one fleet place, ec4m 7ra, london United Kingdom Duyuru • Apr 30
Spirent Communications plc Introduces Industry-First Automated Test Solution for New Era of Wi-Fi Devices Spirent Communications plc announced the release of the Octobox STA Automation Package, the industry's first solution to fully automate comprehensive performance testing and validation of client stations and devices on Wi-Fi 6/6E and Wi-Fi 7 networks. The new automation package is designed to dramatically accelerate Wi-Fi station testing by replacing time consuming, inconsistent, and resource-intensive manual testing with structured, repeatable, and scalable validation automated workflows. Wi-Fi technologies are evolving rapidly with Wi-Fi 6 and 6E implementations projected to exceed 80% of market share in 2025, and next generation Wi-Fi 7 adoptions making significant inroads. This rapid uptake of the new era of wireless technology is presenting challenges for manufacturers, eager to ensure reliable performance of increasingly sophisticated Wi-Fi connected devices. Spirent's Octobox testbed is a customizable set of isolated chambers and instruments for testing over-the-air (OTA) Wi-Fi equipment and devices and the new STA Automation Package provides a fully automated test suite that ensures optimal performance in real-world conditions. It enables manufacturers to automate repeatable, overnight and parallel multi-station test execution to eliminate inconsistencies associated with manual testing, and enable validation of more devices, across more environments, more frequently. The STA Automation Package addresses key issues in evaluating Wi-Fi devices: Performance and throughput: Achieve gains of up to 50% with comprehensive multi-station testing; Scalability: Supports extensive multi-device, multi-environment testing without human intervention; Comprehensive validation: Ensures max throughput, rate vs. range, fixed MCS sweep, MU-MIMO, OFDMA, roaming reliability, and backwards compatibility. The STA Automation Package builds upon Octobox's comprehensive Wi-Fi station testing capabilities and integrates seamlessly into the Octobox testbed ecosystem, enabling manufacturers to thoroughly validate a range of Wi-Fi stations such as consumer smartphones, laptops and tablets, healthcare and education applications, and network devices. The Octobox STA Automation package is also available as part of Spirent's Test as a Service (TaaS) for Wi-Fi Devices to reduce the turn-around time for devices submitted to Spirent for performance testing. Duyuru • Apr 01
Spirent Communications plc Showcases Latest Advanced Ethernet Solutions At OFC 2025 Spirent Communications plc announced that it will showcase its latest 400G, 800G, and 1.6T Ethernet validation solutions at the OFC 2025 Conference and Exhibition, in San Francisco, March 30 - April 3. As AI-driven workloads continue to fuel unprecedented demand for high-bandwidth, low-latency networking, Spirent's cutting-edge test platforms will be on display to help the industry validate reliability, scalability, and interoperability for next-generation data centers, cloud providers, AI and machine learning infrastructures. The networking industry is undergoing a significant transformation, driven by the rise of AI workloads and the need for new AI back-end networks to connect an ever-increasing number of accelerators in large AI clusters. At OFC 2025, Spirent will showcase: 1.6T test solutions that enable network equipment manufacturers and service providers to validate the highest levels of performance, lossless transport, and ultra-low latency. The B3 800G Appliance, which is the industry's first high-density 800G OSFP and QSFP-DD test platform supporting IEEE 802.3df specifications to accelerate AI-driven Ethernet adoption. 400G test solutions designed to provide high-performance, cost-effective, and interoperable cloud-scale networking. Spirent's M1 Compact Appliance, a space-efficient platform for functional, performance, and benchmark testing in IP networking and automotive Ethernet applications. Spirent's test and validation solutions will be demonstrated with technology partners including the Ethernet Alliance (booth #5173), PICadvanced (booth #4311), and at Spirent's booth #5180. Duyuru • Jan 17
Spirent Communications plc to Report Fiscal Year 2024 Results on Mar 04, 2025 Spirent Communications plc announced that they will report fiscal year 2024 results on Mar 04, 2025 Duyuru • Oct 04
Spirent Delivers New 5G Monetization Opportunities with Real-World Testing for Fixed Wireless Access Spirent Communications plc announced its new 5G Fixed Wireless Access (FWA) testing services. Spirent’s 5G FWA solutions offer comprehensive lab-based 5G/Wi-Fi gateway testing and live network competitive benchmarking to enable communications service providers (CSPs) and device manufacturers to better optimize quality of experience (QoE) and differentiate their offerings in an increasingly competitive market. Accelerating 5G FWA adoption is seeing demand for rigorous network performance evaluation grow rapidly, with more than 200 CSPs launching home services and 20 CSPs introducing 5G FWA business offerings. Spirent’s new services for 5G FWA address this growing global demand by offering cutting-edge solutions that provide critical insights into user experience and enable operators to drive revenue growth with enhanced customer satisfaction. Spirent’s solutions utilize the company’s proven methodologies and global cloud-based measurement systems to enable service providers and vendors to optimize services for premium QoE delivery, as well as confidentially and reliably benchmark competitive services to substantiate their own performance claims. With expertise in both lab and live environments, these latest offerings are another way in which Spirent is helping customers to rapidly launch, optimize, and monetize 5G networks. Spirent’s 5G FWA solutions deliver actionable insights through extensive testing across multiple user scenarios, including: General data and web browsing; VoWiFi (Voice over Wi-Fi); Video streaming QoE; Cloud gaming QoE; RF environment characterization. With this approach, CSPs gain a more comprehensive understanding of their FWA service performance compared to others in the market. With benchmark testing tailored to the specific needs of each provider, Spirent is able to provide data that reflects the real-world user experience and quickly and accurately target areas for optimization. In addition to enhancing customer satisfaction, the solution helps CSPs improve operational efficiency, reduce costs, and optimize their infrastructure to better serve users during times of peak and off-peak demand. Duyuru • Sep 17
Spirent Communications plc Expands Wi-Fi Testing Solutions: Unveiling New Capabilities and Benefits for ISPs and Beyond Spirent Communications plc announced significant enhancements to its Octobox Wi-Fi testing solutions, designed to address the evolving needs of Internet Service Providers (ISPs) and equipment manufacturers. As Wi-Fi continues its rapid evolution, driven by the increasing number of connected devices and the rollout of Wi-Fi 7, Spirent's advanced testing platforms are poised to ensure reliable and high-performance connectivity for consumers and enterprises alike. A key enhancement to the Octobox portfolio is new pre-configured automated testbeds specifically designed to comprehensively test access points, devices, and mesh systems for Wi-Fi 7. Building upon earlier customizable configurations, Octobox has developed the world's first isolated-chamber testbed designed specifically for testing, validating, and optimizing the performance of consumer endpoint devices connected to Wi-Fi 7, which revolutionizes testing for a range of devices from phones and VR goggles to refrigerators and drones. In addition, Spirent has designed a configuration specific to testing mesh networks, an important trend in Wi-Fi technology. Mesh backhaul testing is a specific area where the benefits of Wi-Fi 7, such as faster backhaul links, can be particularly advantageous. The testing solution ensures that as more devices connect and operate within a mesh network, the overall performance remains robust and reliable. This includes testing for throughput and resilience, which are critical for ensuring that mesh networks can handle the demands of multiple devices and provide seamless coverage. Octobox is the only platform that can comprehensively test stringent Wi-Fi 7 standards by characterizing the unique capabilities of Wi-Fi 7 now and in the future as the requirements and related test cases evolve. With a modular design for easy upgrades and the ability emulate multiple devices or stations, Octobox provides a controlled environment to create real-world conditions in a repeatable manner, combining high performance instrumentation and analysis capabilities with the most sophisticated automation software. Octobox simplifies Wi-Fi 7 test set-up, reduces testing duration, and enhances repeatability, resulting in actionable business outcomes. Duyuru • Jul 02
Spirent Communications plc to Report First Half, 2024 Results on Aug 06, 2024 Spirent Communications plc announced that they will report first half, 2024 results on Aug 06, 2024 Duyuru • Jun 19
Spirent Communications plc Announces the Addition of Cloud-Native Function Resiliency Testing to its Spirent Landslide Solution Spirent Communications plc announced the addition of cloud-native function (CNF) resiliency testing to its Spirent Landslide solution to continuously test the impact of CNF performance on the delivery of 5G Standalone services. Already the leading solution for 5G Standalone core testing, the expansion of Landslide's capabilities to include CNF testing within a single test solution platform will help further address the evolving needs of mobile network operators (MNOs) and Network Equipment Manufacturers (NEMs) as they transition to cloud-native environments. The 5G standalone core, with its service-based architecture and embrace of the public and private clouds to support rapid time-to-market and scalable network operations, has the potential to unlock exciting business opportunities with new ways to deploy, operate, and manage networks and services. While the new disaggregated and distributed architecture provides for a dynamic multi-cloud, multivendor ecosystem, it also presents a raft of daunting new challenges for service providers. Spirent Landslide is the only single pane solution that can generate real-world 5G traffic and simultaneously impact the 5G cloud core to assess and correlate its impact on 5G services. This is especially important with cloud deployments, where failures are the norm and CNFs must be designed to be resilient to avert serious consequences with 5G service quality. MNOs and NEMs have traditionally relied on manual testing processes and self-developed automation scripts, leading to inefficiencies and increased testing complexity. Ambiguity surrounding ownership of 5G services in CNF environments is also presenting additional concerns for service providers, requiring a fundamental shift in the testing mindset from reliability-focused legacy networks to resilient and scalable CNF networks. Duyuru • Apr 30
Spirent Announces PNT X - the Next Generation Test Solution for Positioning, Navigation and Timing Spirent Communications plc announced PNT X, its next-generation positioning, navigation and timing (PNT) simulation system. Designed to deliver unprecedented performance and flexibility in PNT simulation and testing, PNT X offers the highest fidelity and most signal sources in a single test platform to address the future of enhanced autonomy, safety, efficiency, and precision. As developers look beyond GNSS alone to address increasingly complex positioning challenges, PNT X brings together signals including L-band, S-band, and alternative navigation (AltNav) signals, as well as industry-first Regional Military Protection (RMP) support, into one innovative, compact, and flexible system. With the power to run multiple signals from different PNT sources concurrently, the new platform simplifies comprehensive testing, delivering real-time feedback for mission-critical testing scenarios. PNT X brings together the broadest set of features and capabilities needed to protect future generations of mission-critical systems. These include the patented I/Q spatial awareness capability, an enhanced controlled reception pattern antenna (CRPA) testing interface, the highest available continuous dynamic range for jamming evaluation, and a standard update rate of 2 kHz for hardware-in-the-loop (HIL) and high-dynamics vehicle testing. Along with a host of other groundbreaking enhancements, these make PNT X the world's most advanced test solution for mission-critical systems and NAVWAR robustness. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 67% After last week's 67% share price gain to €2.05, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 17x in the Communications industry in Europe. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.15 per share. Duyuru • Mar 06
Viavi Solutions Inc. agreed to acquire Spirent Communications plc (LSE:SPT) for £1 billion. Viavi Solutions Inc. agreed to acquire Spirent Communications plc (LSE:SPT) for £1 billion on March 5, 2024. The Acquisition is conditional on, amongst other things, the approval of Spirent Shareholders and the satisfaction of certain regulatory conditions. Accordingly, the Spirent Directors intend to recommend unanimously that Spirent Shareholders vote in favor of the Scheme at the Court Meeting and the Special Resolution(s) to be proposed at the Spirent General Meeting. A Group of Spirent Directors who holds 1,347,466 shares, representing 0.2329% of Spirent, have given irrevocable undertakings to vote in favor of the Scheme at the Court Meeting and the Special Resolution to be proposed at the Spirent General Meeting. The full cash consideration payable under the Acquisition, together with certain fees and expenses in connection with the Acquisition, is being fully funded by a combination of cash resources available to Viavi, £314.428 million investment from Silver Lake in the form of Convertible Notes issued by Viavi to Silver Lake and debt financing comprise a £628.856 million 7-year senior secured term loan; a £235.821 million senior secured 364-day cash flow term loan; and a £78.607 million senior secured revolving credit facility. Viavi has obtained fully underwritten commitments from Wells Fargo Bank, N.A. (the Lender) to provide the Term Loan, the Cash Flow Facility, the Revolving Credit Facility, and, if applicable, each of the Interim Facilities pursuant to the Interim Facilities Agreement. The transaction is subject to Spirent Shareholder approval, certain regulatory closing approvals, antitrust clearances, approval of the Scheme by Spirent shareholders at the Court Meeting and General Meeting and the sanction of the Scheme by the Court; and Scheme is expected to become Effective during the second half of 2024. The Scheme will lapse if the Acquisition is not completed before on September 6, 2025.
The Spirent Directors, who have been so advised by Rothschild & Co and UBS as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. Qatalyst Partners LP Lead Financial Adviser to Viavi. Wells Fargo Securities, LLC Financial Adviser to Viavi. N.M. Rothschild & Sons Limited Lead Financial Adviser to Spirent. UBS AG London Branch Lead Financial Adviser and Corporate Broker to Spirent. Jefferies International Limited Financial Adviser to Spirent. Fried, Frank, Harris, Shriver & Jacobson LLP is retained as legal adviser to Viavi. Linklaters LLP is retained as legal adviser to Spirent. New Risk • Mar 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (20% average weekly change). Minor Risks Dividend is not well covered by cash flows (173% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.3% net profit margin). Buy Or Sell Opportunity • Mar 06
Now 55% overvalued after recent price rise Over the last 90 days, the stock has risen 62% to €2.04. The fair value is estimated to be €1.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 8.0% in 2 years. Earnings are forecast to grow by 72% in the next 2 years. Duyuru • Feb 23
Spirent Communications plc Moves Testing into the AI Fast Lane with Industry’s First AI Traffic Emulation Platform for Ethernet Spirent Communications plc announced the industry’s first high-density test solution capable of emulating realistic Artificial Intelligence (AI) workloads over Ethernet. As the networking world’s technology of choice, Ethernet is the backbone of the Cloud and the ability to emulate realistic AI traffic workloads and test their impact on AI data center networks and interconnects is key. Communications networks worldwide rely on Ethernet technology, and testing how the Ethernet fabric of new AI environments performs has proved to be an enormous challenge. AI training brings unique requirements, with dramatically increased workload volumes, high sensitivity to latency, congestion, and job completion times (JCT). Spirent’s new AI test solution runs on the A1 400G platform and is the first hardware that can emulate the high density 400G xPU workloads for AI environments. It enables customers to test their Ethernet fabrics in their existing test environments without having to go to the considerable expense of building new xPU server equipped labs. Utilizing the RoCEv2 protocol, the Spirent platform is designed for ease of use, is straightforward to configure, and provides repeatable and consistent results to reduce the complexity of testing AI use cases. It also boasts the credentials of a true multi-purpose platform that can test both AI and routing/switching use cases concurrently. Duyuru • Jan 18
Spirent Communications plc to Report Fiscal Year 2023 Results on Mar 06, 2024 Spirent Communications plc announced that they will report fiscal year 2023 results Pre-Market on Mar 06, 2024 Buying Opportunity • Nov 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be €1.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to decline by 8.0% in 2 years. Earnings is forecast to decline by 41% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.23, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Communications industry in Europe. Total loss to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.65 per share. Duyuru • Nov 03
Spirent Communications plc (LSE:SPT) acquired Test Lab Automation portion from NetScout Systems, Inc. for $8 million. Spirent Communications plc (LSE:SPT) acquired Test Lab Automation portion from NetScout Systems, Inc. for $8 million in early September 2023.
Spirent Communications plc (LSE:SPT) completed the acquisition of Test Lab Automation portion from NetScout Systems, Inc. in early September 2023. Duyuru • Oct 17
Spirent Communications plc's OCTOBOX Solution Adds Comprehensive Support for Wi-Fi 7 Testing Spirent Communications plc announced that Spirent OCTOBOX is ready for testing the demanding requirements of Wi-Fi 7 (IEEE 802.11be). Spirent's automated modular test platform for Wi-Fi devices now boasts the capabilities to emulate the unique demands of Wi-Fi's latest generation, promising faster speeds, greater traffic capacity, and lower latency. Wi-Fi has become mission-critical for productivity, information, and entertainment with vastly increased applications in the home and industry. To support its ever-broadening use, Wi-Fi 7 brings new functionality and features, such as lower latency and faster throughput, but has added new testing challenges with the addition of restricted service periods, multi-link operation, and other technology advancements. As a significant evolution, Wi-Fi 7 requires new testing approaches for communication service providers, network equipment manufacturers, internet service providers, and enterprises alike, to ensure their customers can take advantage of Wi-Fi 7 performance improvements. dramatically increased traffic capacity, significantly lower latency, less congestion, and greater reliability are ways in which Wi-Fi 7 will deliver the performance demands by the applications of the future, such as 8K video streaming, cloud gaming, and augmented and virtual reality (AR and VR). OCTOBOX is the only platform that can comprehensively test stringent Wi-Fi 7 standards by characterizing the unique capabilities of Wi-Fi 7 now and in the future as the requirements and related test cases evolve. With a modular design for easy upgrades, OCTOBOX provides a controlled environment to emulate real-world conditions in a repeatable manner, combining high performance instrumentation and analysis capabilities with the most sophisticated automation software. OCTOBOX simplifies Wi-Fi 7 test set-up, reduces testing duration, and enhances repeatability, resulting in actionable business outcomes. latest capabilities include: Isolated feature-by- feature testing; High modulation rates; Detailed, dynamic characterization of the delay performance of the device; Day zero continuous testing with automation test packages; Multi-location, multi-channel, multi-band sniffing. Recent Insider Transactions • Oct 13
CEO & Director recently bought €112k worth of stock On the 10th of October, Eric Updyke bought around 100k shares on-market at roughly €1.12 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Eric has been a buyer over the last 12 months, purchasing a net total of €158k worth in shares. New Risk • Oct 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • Oct 05
Spirent Communications plc Provides Earnings Guidance for the Nine Months Ended 30 September 2023 Spirent Communications plc provided earnings guidance for the nine months ended 30 September 2023. Revenue for the first nine months is anticipated to be down broadly 20%, in line with the reduction seen in the first half, and is expected to continue broadly at this rate for the full financial year; negative operating leverage will impact operating profit very materially. New Risk • Oct 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buying Opportunity • Oct 05
Now 46% undervalued after recent price drop Over the last 90 days, the stock is down 47%. The fair value is estimated to be €1.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 2.0% in 2 years. Earnings is forecast to grow by 22% in the next 2 years. Duyuru • Sep 27
Spirent Communications plc Introduces Software-Based Du Testing Optimized for Seamless CI/CD/CT Pipeline Integration Spirent Communications plc announced a software-based version of its O-DU wraparound test solution that is scalable to support continuous integration, continuous delivery, and continuous testing (CI/CD/CT) pipelines. The new solution stress- tests O-DU functionality and performance to help customers accelerate validation and enable faster deployment of O-RAN networks and technology. A single distributed unit (DU) must manage many radio units (RUs) and hundreds of end user devices (UEs). Testing requires the emulation of high volumes of UEs and RUs to stress the DU and evaluate maximum performance and capacity, but massive scaling of traditional hardware-based testing is complex and cost prohibitive. In tackling this, Spirent's new software-based O-RAN DU test solution provides: Comprehensive testing at massive scale; A simplified testing environment with a single user interface; A dramatically reduced hardware footprint; Integration with the customer's CI/CD/CT automation workflow processes to cut overall testing time and improve accuracy. In addition, Spirent is building on the success of its existing 5G Core Automation Platform by offering the industry's first O-RAN automation packages. Providing subscription access to unique pre-built test case libraries, the O-RAN automation packages help customers reduce set-up time and slash costs associated with developing and maintaining their own test suites. Duyuru • Sep 22
Spirent Communications plc Unveils Industry-First Solution for Validating Resiliency of Cloud-Native 5G Services Spirent Communications plc announced availability of the industry’s first fully cloud-native solution to help communication service providers (CSPs) and cloud-native network function (CNF) vendors ensure resilient 5G services. An automated test platform, Spirent CloudSure evaluates and validates CNF resiliency within 5G networks with comprehensive testing capabilities to help ensure reliable service delivery, while reducing operational costs, and optimizing customer experience. CloudSure has been engineered to help network operators deliver robust and resilient 5G services to end users in the complex, highly dynamic, cloud-native world. It enables: Reliable service delivery: Confirms 5G cloud-native network functions operate reliably under the most challenging cloud conditions for uninterrupted service delivery and long-term revenue growth. Reduced operational costs: Optimizes resource utilization and validates complex fault recovery mechanisms to avoid costly outages, 5G service interruptions and reduce operating expenses. Enhanced customer experience: Ensures resilient 5G service design, configuration, and performance to deliver high-quality user experiences to improve customer satisfaction and retention. Competitive advantage: Enables reliable, high-performing 5G services that meet customer expectations consistently, for a competitive edge in 5G and to attract new customers. Ensuring 5G services survive cloud failures and degradations with minimal or no impact to users is essential to successful cloud-native technology adoption. A proactive approach and deeper cross-functional coordination are required to manage the complex and dynamic new environment, to get ahead of technology changes and gain visibility into the new, interdependent cloud-native worlds, with multiple vendors and constant release cycles. CloudSure provides the new approach required by network operators to ensure 5G service resiliency, optimization and new service acceleration necessary for maximizing long-term revenue and ensuring reliable operations. CloudSure also complements Spirent’s market-leading Landslide 5G network test solution by injecting user-defined real-world cloud impairments and correlating their impact on cloud-native 5G services. Duyuru • Sep 13
Spirent Announces Readiness to Generate Xona PULSAR Production Signals Via SimXona Spirent has concluded a review of Xona Space Systems' PULSAR™? production signals establishing feasibility for integration into the SimXona product line. Spirent will seamlessly integrate the Xona production signals as an evolution of the SimXona platform; support will become available to existing and new customers throughout 2024. Xona is developing PULSAR™?, a high-performance positioning, navigation, and timing (PNT) service built on a backbone of low Earth orbit (LEO) small satellites. Xona's patented high-powered smallsat signals will improve PNT resilience and accuracy by augmenting global navigation satellite systems (GNSS), such as GPS, while operating with an independent navigation and timing system architecture. Duyuru • Sep 08
Spirent Communications plc Supports H3C to Complete Large-Scale 800G Test Spirent Communications plc has supported H3C in successfully completing the industry's first large-scale high-density 800G Ethernet test with up to 64 800G ports. The test results validated the reliability and high performance of H3C S9827, H3C's 800G CPO silicon photonic switch series. With Artificial Intelligence Generated Content (AIGC) driving a new wave of network transformation, the resulting large-scale AI workloads require data exchange among tens of thousands of servers executing billions of parallel computations for massive data training. Growing demand for computing power is driving new requirements for high-quality network connections and with 800G and 1.6T expected to become the standard for large-scale training in the future, high-performance of next-generation switches is essential for overall network efficiency and response speed. This recent test leveraged the industry's first high-density 800G OSFP and QSFP-DD test platform, the Spirent TestCenter 800G B2 Appliance. The B2 is dedicated to accelerating time-to-market for 800G infrastructure development and adoption, no matter the interconnect strategy, providing customers the flexibility to use a test platform native to their actual network deployments. The B2 test solution offers the density, flexibility and performance features needed to validate the next generation of switches, routers, chipsets, and data center fabrics. Supporting multi-rate interconnection with switches via cables, optical fibres and other interconnects, the B2 enables testing based on benchmark performance and scale standards. The H3C S9827 series is a new generation of 800G data center switches based on CPO silicon photonics technology, and test results showed a total switching capacity of up to 51.2T, with all 64 ports achieving 100% line speed forwarding under different traffic. Each port transmission rate reached 800Gbps, and the integrated CPO silicon photonics technology fully met the high throughput demands for intelligent computing networking, ensuring its suitability for AIGC clusters and other high-performance data center core switching and related applications, which will help to unleash optimal computing power in the AIGC era. Duyuru • Aug 04
Spirent Communications plc declares an Interim Dividend for the Six Months Ended 30 June 2023, Payable on 15 September 2023 Spirent Communications plc announced that the Board has declared an interim dividend of 2.76 cents per Ordinary Share, a 5% increase over the dividend declared for the first half 2022 of 2.63 cents, reflecting the Board's confidence in the medium term. This is equivalent to 2.14 pence per Ordinary Share at an exchange rate of $1.29:£1 (first half 2022: 2.16 pence). The payment will be approximately $16.5 million. The dividend will be paid to Ordinary shareholders on 15 September 2023 and to ADR holders on 22 September 2023. The dividend is payable to all shareholders on the Register of Members at the close of business on 11 August 2023. Reported Earnings • Aug 03
First half 2023 earnings released: EPS: US$0.009 (vs US$0.057 in 1H 2022) First half 2023 results: EPS: US$0.009 (down from US$0.057 in 1H 2022). Revenue: US$223.9m (down 20% from 1H 2022). Net income: US$5.20m (down 85% from 1H 2022). Profit margin: 2.3% (down from 12% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Duyuru • Jun 28
Spirent Communications plc Provides Another Industry-First with 400G Testing and Monitoring Probe Spirent Communications plc announced the availability of an 400G probe for next-generation network testing and monitoring. Spirent offers the only network assurance solution that provides such highly dense capacity for emulation, activation testing, and performance monitoring of 400G network traffic. With the development and roll-out of faster, highly complex 5G networks, it's critical to not only measure end-to-end performance, but also have the capacity to segment, monitor, and isolate various domains of the network for troubleshooting purposes. Having complete visibility is vital for improving the speed of troubleshooting and mean time to repair (MTTR) response. This includes newly emerging high speed, high capacity 400G links. The 400G 7574 Test Head is part of Spirent's VisionWorks assurance solution, which enables service providers to address ever-increasing traffic speeds and density demands with test agents for physical and NFV-based networks. With VisionWorks, customers ensure that new services are provisioned correctly, tested for stressed scenarios during pre- deployment, and when faults do occur, they can be rapidly identified and corrected. The automated, always-on performance monitoring provides complete end-to-end transport network and service visibility, enabling network segmentation for fast and accurate troubleshooting. Duyuru • Jun 16
Spirent Brings the Network Edge into View for Full End-To-End Service Assurance Spirent Communications plc announced the availability of its new over-the-air (OTA) performance monitoring solution designed to bring the network edge into the complete end-to-end test and monitoring landscape. The Spirent Mobile Test Platform (MTP) is a simple-to-deploy small form factor solution that provides extensive edge service monitoring and full remote management. Supporting an unrooted, commercially available handheld device and four SIMs in one functional box, the Spirent MTP features an innovative patent-pending management technology that enables unprecedented remote monitoring of the customer experience, whatever the chosen location. The first device of its kind, the Spirent MTP also provides operators with previously unseen central control of test devices at the edge, including software updates and even device hardware reboots. Born out of the combination of Spirent's industry leading Fit4Launch and service assurance solutions, the MTP enables systematic performance monitoring and ad hoc testing from the edge of the network that can be consumed and integrated for deeper network analytics at a larger scale and provide unrivalled network visibility and analysis. By combining Spirent's existing fixed and mobile network assurance solutions with the OTA capability of MTP, customers can now deploy and assure new 5G services with the confidence that they will be able to quickly detect and isolate faults anywhere in the network before end customers detect there was a problem. This will be critical to delivering new 5G services to both consumer and enterprise customers. Duyuru • Jun 15
Spirent Communications plc to Report First Half, 2023 Results on Aug 02, 2023 Spirent Communications plc announced that they will report first half, 2023 results on Aug 02, 2023 Duyuru • Jun 14
Spirent Communications plc Appoints Rajesh Pathak as Country Managing Director for India & Saarc Spirent Communications plc has appointed Rajesh Pathak as Country Managing Director for India and SAARC. Rajesh will be responsible for driving Spirent's growth strategy in the region and helping customers accelerate the development, deployment and operation of new network solutions and services. He joins Spirent at a pivotal time for the communications industry in the region, with service providers (CSPs) and network equipment manufacturers (NEMs) pursuing end-to-end, lab-to-live network testing, as networks undergo major architectural shifts. In the new telecom economy, operators are facing transformational investments in cloud-native networks, the necessity for automation, and the need to embrace technologies like artificial intelligence (AI). Pathak has an MBA from Cornell Johnson Graduate School of Management, and brings over two decades of industry experience to Spirent, having previously held senior leadership roles at Accedian and BT India. Duyuru • Jun 06
NI and Spirent Announce First Comprehensive Test Solution for OpenRAN O-RU Customers NI and Spirent Communications announced the first and only O-RU (Radio Unit) test solution that uses application layer testing with any commercial device, Traditional testing of O-RAN systems has been very time-intensive and cost-prohibitive due to its need for engineers to manually test their systems from beginning to end. Built on common technologies, the Spirent/NI joint solution combines Spirent’s software and emulation environment, including pre-built test cases, with NI’s high-performance instrumentation, providing a robust and integrated O-RU validation solution that improves time to market with full automation through a single, intuitive GUI while also minimizing instrument cost and footprint. The solution wraps the O-RU with a real-time O-DU emulator through a fully compliant O-RAN 7.2 interface, a CU emulator, a core network emulator, and a commercial UE emulator for real-world Interoperability Testing (IOT) to deliver a testbed capable of running real-world test scenarios in the lab. Customers can also use a commercial device in place of the UE emulator to validate all timing, full throughput including 4x4 MIMO, and any system-level test that an O-RU would experience in a real-world deployment scenario to test true performance and interoperability at a functional level rather than at the interface. On the production side, NI also has an O-RAN O-RU APT test system which uses the same O-DU emulation and combines this with NI’s PXIe-5841 VST for parametric measurements for best-in-class efficiency with unmatched measurement accuracy. This test system is highly configurable, real-time, and ORAN FH compliant. It enables customers to configure the O-DU to emulate various timing profiles, test corner cases, and validate the system performance under real-time conditions. In addition, having the same test systems used in validation facilitates a streamlined O-RU development process that connects validation to production and drastically reduces test time, cost, and development effort. Duyuru • May 05
Spirent Communications plc Proposes Final Dividend, Payable on 10 May, 2023 Spirent Communications plc announced payment of the previously announced final dividend of4.94 cents (4.12 pence)per Ordinary Share, totalling $30 million (subject to exchange rate movements), will be made on 10 May, subject to shareholder approval at the Annual General Meeting on 4 May. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €2.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Communications industry in Europe. Total returns to shareholders of 6.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.65 per share. Recent Insider Transactions • Mar 12
Non-Executive Chairman recently bought €56k worth of stock On the 9th of March, William Gennydd Thomas bought around 27k shares on-market at roughly €2.05 per share. This transaction amounted to 41% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was William's only on-market trade for the last 12 months. Reported Earnings • Mar 08
Full year 2022 earnings released: EPS: US$0.17 (vs US$0.15 in FY 2021) Full year 2022 results: EPS: US$0.17 (up from US$0.15 in FY 2021). Revenue: US$607.5m (up 5.5% from FY 2021). Net income: US$99.9m (up 12% from FY 2021). Profit margin: 16% (in line with FY 2021). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be €2.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 9.4%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings is also forecast to grow by 6.2% per annum over the same time period. Duyuru • Feb 15
Spirent Communications plc Announces Full Suite of Integrated O-Ran Solutions to Simplify End-To-End O-Ran Testing and Validation Spirent Communications plc announced its release of end-to-end, O-DU, and RIC testing, completing its O-RAN test solution portfolio. Building upon its previously available O-CU and O-RU test solutions, Spirent now offers the most robust and realistic O-RAN testing, a move that will help accelerate widespread O-RAN adoption. Spirent’s comprehensive testing approach and 5G ecosystem expertise will ensure O-RAN functionality, interoperability, and field-ready performance. Spirent’s unique O-RAN portfolio provides the following: Comprehensive multi-vendor interoperability and advanced performance testing using real-time emulation - Spirent offers the most thorough, reliable, and realistic testing using comprehensive test portfolios and real-time (bi-directional) emulation, which most accurately reflects a live, real-world O-RAN environment. Automation - Spirent’s O-RAN solutions provide pre-built test libraries across performance, resiliency, security, compliance, and more with a fully integrated system with open APIs. Additionally, the solution is designed to plug-and-play seamlessly into any automation pipeline. Single User Experience - O-RAN testing requires a variety of testing and emulation approaches, which Spirent has integrated into the industry’s only system managed through a single user experience, regardless of the testing type being executed. Duyuru • Feb 11
Spirent Communications plc Delivers Flexibility for Testing Tomorrow’s Ethernet with Compact M1 Appliance Spirent Communications plc announced the availability of the compact M1 Appliance for testing Ethernet and Automotive Ethernet in tomorrow’s networks and applications. The new space-saving platform with its built-in flexibility is designed to help accelerate time to market and assure successful deployments of new technologies, while also improving product quality and ensuring reliable, high-quality user experiences. The flexibility of the Spirent M1 Appliance makes it an ideal tool for the entire test lifecycle for functional, performance and benchmark testing of new networking products targeting network infrastructure, as well as for validating evolving SDN and NFV technologies. M1's innovative platform architecture delivers higher reliability and density compared to the previous generation of compact appliances, with a maximum of eight network interface card (NIC) slots. Support for a wide variety of NIC combinations means the ability to create additional appliance kits for specific testing needs, while the small form factor offers lower power consumption compared to larger chassis. The M1 Appliance also enables users to easily distribute test systems among multiple locations as opposed to installing them in a dedicated lab space, which some users may lack. Optimal use for the M1 Appliance embraces network traffic, broadband testing, SDN and datacenter validation, device benchmarking, core and edge routers and switch verification, carrier Ethernet verification, and subscriber emulation. Key benefits include: Smaller footprint for more efficient lab space use. It delivers core testing capabilities at a lower port count and scale, while using less power and generating less heat. Cost-effective tool bundled for special use cases, designed for specific application testing, select performance use cases, and verifying functionality on Ethernet speeds from 10M to 100G. Improved customer experience with enhanced manageability and serviceability, components are easily serviceable in the field. It also provides a seamless testing experience without a steep learning curve. The small form factor and high port density makes it an ideal component for complex automotive hardware-in-the-loop (HIL) systems built to validate the Ethernet-based, software-defined cars of the future. The new M1 Appliance supports all Automotive Ethernet Base-T1 speeds, from 10M(T1S) to 10G. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €2.54, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Communications industry in Europe. Total returns to shareholders of 3.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.75 per share. Duyuru • Jan 11
Spirent Communications plc Announces Availability of the New A2 400G Appliance to Help Accelerate the Design and Development of New Generation High-Speed Ethernet Devices Spirent Communications plc announced the availability of the new A2 400G Appliance to help accelerate the design and development of new generation high-speed Ethernet devices. Optimized for system and scale testing the streamlined, pre-configured A2 400G Appliance is intended for market segments such as network equipment manufacturers (NEMs), service providers, enterprises, chipset vendors and government that need high-density 400G test capabilities to validate routers and switches. The Spirent A2 400G Appliance is a flexible platform with high-density 400G ports for mission-critical scale emulation and select functional testing, such as throughput testing with traffic packet blasting, and proof of concept (PoC) labs to emulate a real-world service provider customer network. The next-generation 2U platform is available in 8-port and 16-port variants for high-density 400G testing and protocol scale emulation, such as high-density hardware interoperability testing and ASICS testing for chipset vendors. The A2 platform delivers a proven test solution for validating 400G QSFP-DD architectures for scalability, reliability and interoperability with automation capabilities that save valuable time and resources to accelerate time to market. In addition, the seven-speed appliance supports 400/200/100/50/40/25/10G Ethernet speeds for network traffic testing at line rate. Duyuru • Dec 07
Spirent Communications plc Brings Realistic Testing to Emerging LEO Satellite Applications Spirent Communications plc announced availability of SimORBIT, the first high-accuracy orbital modelling software solution specifically developed for Low Earth Orbit (LEO) satellite simulation. Created in partnership with spaceborne receiver developer SpacePNT, Spirent SimORBIT enables developers to calculate LEO orbits and their distinctive characteristics more precisely and realistically for GNSS/PNT testing. Testing space-based applications in the field is extremely difficult and cost prohibitive, which is why accurate lab testing is vital. The new era of LEO satellites demands highly accurate modelling of the Low Earth Orbit environment to provide the realism needed for high-value testing, including representing the distinct gravitational and atmospheric impact LEO satellites will endure in space. Using Spirent’s SimORBIT model, developers can now accurately replicate LEO orbits for the first time, enabling customers to test using simulations that more closely resemble the true operating environment of a LEO satellite. This capability complements the ability of Spirent’s simulation systems to generate non-ICD signals through I/Q injection, or by the unique Spirent “Flex” feature, enabling new space based PNT signals to be developed in the lab as realistically as possible. Spirent provides the most comprehensive and realistic GNSS test environments, working with leading PNT players to deliver the flexible, scalable, and future-proof architecture needed to evolve with technology. The SimORBIT orbital model highlights the company’s continued commitment to providing customers with the most realistic, most valuable solutions for testing space-based applications. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. Independent Non-Executive Director Maggie Buggie was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Oct 26
Spirent Communications plc’s C-V2X Conformance Testing Solution Validated by DEKRA for Successful OmniAir Certification Spirent Communications plc announced that the Spirent TTsuite-WAVE-LTEV testing solution has earned OmniAir Qualified Test Equipment for C-V2X status. Through a joint effort with the OmniAir Consortium, DEKRA and key device manufacturers, Spirent’s C-V2X conformance testing solution successfully completed the stringent audits and assessments to achieve certification. SpirentTTsuite-WAVE-LTEV is a solution for testing C-V2X protocol over the LTE-V PC5 interface that contains a set of interoperable scripts for Wireless Access in Vehicular Environments standards for validating compliance. It helps ensure cross-vendor interoperability of On-Board Units and Road-Side Units supporting these standards. TTsuite-WAVE-LTEV ensures the conformance of an implementation, or a system based on USDOT/OmniAir test specifications. It provides fast and simple test execution, analysis, and repeatability, and full support of test automation. The solution is platform independent and can be quickly integrated into existing test environments. Duyuru • Oct 21
Spirent Powers Over-the-Air Testing With MVG Spirent Communications plc announced that the Spirent GSS7000 GNSS simulator has been integrated into Microwave Vision Group (MVG) over-the-air (OTA) and passive antenna test systems. Spirent’s technology and proven performance gives an output that more closely mirrors the real world than any other supplier of GNSS test equipment, enabling developers to carry out truly representative testing. As connectivity in industries such as automotive, aviation and military becomes ever more sophisticated, the need to ensure that all the pieces of technology work together in the way they should increases. The integration of Spirent into MVG test systems enables R&D engineers, particularly those performing tests in anechoic chambers, to incorporate the antenna and the vehicle in a test environment that represents the real-world signal environment as closely as possible, while maintaining full control and repeatability. Duyuru • Aug 10
Spirent Communications plc Launches New “Send Us Your Device” Test as A Service Option for Wi-Fi Customers Spirent Communications plc announced the launch of a new “Send Us Your Device” Test as a Service (TaaS) option for Wi-Fi customers. The first of its kind from a manufacturer of advanced Wi-Fi testbeds, the service allows access to the advanced capabilities of Spirent’s OCTOBOX emulation and testing solution to organizations where the capital expenditure and considerable expertise required to own and manage such complex test setups may not be an option. The growing complexity of Wi-Fi technology is requiring developers and manufacturers to rethink their approach to performance testing for new Wi-Fi enabled devices. The progression of Wi-Fi 6 and 6E, growth of mesh multi-point access networks, and expectations around 5G and Wi-Fi convergence are creating new application and business models which require fresh approaches to testing. The new service is targeted at companies with Wi-Fi testing needs but little or no onsite test facilities of their own, as well as organizations like chipset developers, IoT and consumer device makers, and network equipment manufacturers that need to perform regular Wi-Fi testing but may not have the in-house expertise to create, deploy and efficiently execute the range of performance tests the industry now requires. It is anticipated that Spirent OCTOBOX owners and others with existing labs will also find the service beneficial when they experience occasional bandwidth overflow at their own testing facility. Available to customers globally, the service is based at Spirent’s Massachusetts research facility where OCTOBOX testbeds are developed and manufactured. This allows Spirent to easily scale up and down testing services for customers based on their ever-changing needs and leverage the company’s unrivalled Wi-Fi emulation and testing expertise. The Spirent lab also provides test environments that are engineered with optimized hardware to ensure all devices are validated against the higher quality standards accepted for deployment by carriers and enterprises, such as TR-398 and RFC 2544. Reported Earnings • Aug 05
First half 2022 earnings released: EPS: US$0.057 (vs US$0.049 in 1H 2021) First half 2022 results: EPS: US$0.057 (up from US$0.049 in 1H 2021). Revenue: US$280.1m (up 9.8% from 1H 2021). Net income: US$34.6m (up 17% from 1H 2021). Profit margin: 12% (in line with 1H 2021). Over the next year, revenue is forecast to grow 3.2%, compared to a 8.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 13
Spirent Communications plc Announces Introduction of Spirent Vantage Spirent Communications plc announced the introduction of Spirent Vantage, an innovative solution designed to simplify and automate 5G service assurance. Built upon Spirent’s technology, Vantage breaks down the complexity of 5G assurance for communications service providers (CSPs), with a comprehensive turnkey approach that allows operations teams of any size and skill to understand their network and service performance. Providing end-to-end network visibility, actionable insights, and automated troubleshooting, Vantage is designed to be easy to deploy and scale, and with a pre-built library of test suites it enables on-demand and continuous testing straight out of the box from day one. By facilitating visibility of the entire network with actionable data insights powered by machine learning and AI, Vantage can automate troubleshooting in three easy steps. First, it provides at-a-glance network-wide service performance views, then it can visualize potential impacts via filtering dashboards with customizable overlays. Finally, Vantage provides root cause analysis (RCA) that can pinpoint the source of performance issues and impact in the workflow. Vantage provides great ease-of-use and full-featured functionality with intuitive dashboards and automated, streamlined workflows, guiding users from high-level, end-to-end visualizations to deep data insights for RCA in a matter of a few clicks. Additional capabilities include: Deploy and Scale - Consistent deployment paradigm for cloud-native agents supporting private, public, and hybrid cloud environments?; Expansive Coverage – A portfolio of active test agents can be deployed in virtualized/containerized mobile core and OTA RAN, supporting 5G SA, 5G NSA, and 4G; and Layered Visibility – Select custom visibility filters with overlays such as technology, region/market, interfaces, and more. Duyuru • Jun 29
Spirent Communications plc to Report First Half, 2022 Results on Aug 04, 2022 Spirent Communications plc announced that they will report first half, 2022 results on Aug 04, 2022 Duyuru • Jun 17
Spirent Communications plc Extends the Cybersecurity Testing Capabilities of Its CyberFlood Security and Application Performance Test Solution with the Introduction of the CF400 Appliance Spirent Communications plc is significantly extending the cybersecurity testing capabilities of its CyberFlood security and application performance test solution with the introduction of the CF400 Appliance. This new ultra-high performance platform accelerates the validation of hyperscale networks and security controls required to support the rapidly expanding volume of encrypted traffic and increased cybersecurity requirements of large enterprises and telco carriers. Spirent’s CF400 Appliance is the industry’s first network security and application delivery test platform to provide 400G of application traffic and 200G of encrypted traffic performance testing capabilities, including full HTTP/3 testing in a single appliance. The ability to combine the CF400 with previous platforms enables customers to grow their test capabilities gradually and protect their existing investments without forklift upgrades. Internet traffic is growing tenfold and next-generation firewall (NGFW) and application delivery controller vendors are building new devices to combat the dynamic growth in encrypted traffic. Hyperscale network operators from larger enterprises and carriers are preparing for unprecedented traffic volumes and ever-expanding attack surfaces and threat vectors across their complex, hybrid networks. The CF400 appliance combined with the CyberFlood application helps network equipment manufacturers to shorten development time and sales cycles by showcasing differentiation. It enables hyperscale network operators to mitigate security risks by making informed investment choices in order to deliver high end-user application performance and QoE. There is a live demonstration of the solution at Tokyo Interop 2022 in the Information-Technology Promotion Agency (IPA) booth #4T32 with key partner Toyo and leading security vendors. Buying Opportunity • Jun 14
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be €3.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings is also forecast to grow by 6.7% per annum over the same time period. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. Independent Non-Executive Director Maggie Buggie was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 12
Spirent Unveils New Security Automation Package for 5G Core Test Suite Spirent Communications plc announced a new security automation package as part of the 5G Core Automation Platform for Spirent Landslide. The new security package expands on the industry's first subscription-based automated test platform launched by Spirent in 2021 and is equipped with a unique pre-built security test library. The new package enables service providers to accelerate time-to-market by up to 60% and achieve cost savings of up to 80%. The open cloud-based architecture of 5G introduces the potential for new security vulnerabilities that must be secured to support the mission-critical use cases being promised by 5G. Spirent’s new security automation package for Landslide combines the company’s proven test methodology, automation, and 5G and security expertise into a single pre-built solution that service providers can plug into their automation pipelines. Spirent’s 5G Core Security Automation Package provides control plane testing with a robust library of expert-designed test cases for 3GPP Security Assurance Specification (SCAS) standards and security attack emulation. This latest addition further extends the Spirent 5G Core Automation Platform’s capabilities, with three packages (Compliance, Capacity & Performance, and Security) that allow customers to automate testing and validation for faster go-to-market. The packages provide access to a managed library of hundreds of pre-built test cases developed with award-winning products and solutions, such as Spirent Landslide core emulation, Spirent Velocity test automation, and the company’s world-class professional services. Buying Opportunity • Apr 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.1%. The fair value is estimated to be €3.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings is also forecast to grow by 6.7% per annum over the same time period. Duyuru • Apr 01
Spirent Communications plc, Annual General Meeting, May 06, 2022 Spirent Communications plc, Annual General Meeting, May 06, 2022, at 10:00 Coordinated Universal Time. Location: offices of FTI Consulting at 200, Aldersgate, Aldersgate Street, London EC1A 4HD London . United Kingdom Reported Earnings • Mar 12
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$0.15 (up from US$0.14 in FY 2020). Revenue: US$576.0m (up 10% from FY 2020). Net income: US$89.2m (up 5.7% from FY 2020). Profit margin: 16% (in line with FY 2020). Revenue exceeded analyst estimates by 3.6%. Over the next year, revenue is forecast to grow 4.5%, compared to a 6.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Mar 10
Spirent Communications plc Announces the Availability of Its Latest 400G and 800G Test Platforms to Help Accelerate the Design and Development of New Generation High-Speed Ethernet Solutions Spirent Communications plc announced the availability of its latest 400G and 800G test platforms to help accelerate the design and development of new generation high-speed Ethernet solutions. These solutions enable providers to ensure their 400G infrastructure is up to the challenge of today’s data growth needs, while preparing 800G to be the future workhorse of the cloud’s backbone. Spirent A1 400G Appliance delivers the industry’s highest port density to validate infrastructure and services dependent on high-speed Ethernet technologies, with traffic loads that emulate the real world. This gives service providers and hyperscale data centers confidence they can support massive growth, meet customer expectations, and keep costs in check. Spirent’s A1 test platform enables large capacity testing of ultra-high-scale, next-generation-enabled multi-terabit cloud data center fabrics, as any performance degradation in the backbone disrupts critical fixed and mobile services – potentially bringing SLA penalties, customer support issues, and troubleshooting costs that can run to millions of dollars each year. With an eye to the future, the industry is preparing for the move to 800G to accommodate the expansion of 5G, the growth of 4k and 8k video, and other services that drive demanding performance requirements. With the complexity of 800G, the expanding ecosystem needs to test the viability of next-generation, high-speed Ethernet solutions to make sure these systems will be bulletproof as they begin to take over from 400G. Spirent’s comprehensive 800G product suite is now available to address test and validation needs from 800G to 100M. The industry’s first 800G test platform accelerates timelines as vendors design, develop and deploy 800G technologies. Spirent offers a comprehensive, end-to-end solution that validates forwarding performance, latency, MAC capacity and functional capabilities in an integrated approach that reduces cost of ownership. The 2022 Lightwave Innovation Reviews recognized two of the company’s 800G solutions, Spirent B1 800G Appliance and B2 800G Appliance among the most innovative products impacting the optical communications community this year. According to Lightwave, the test platform “is ahead of potential competitors in 800DD Ethernet module testing space, with a superb combination of features.” Spirent’s industry-leading 400G and 800G test and validation solutions will be demonstrated at OFC in San Diego (March 8-10) at the Spirent booth #5410 and Ethernet Alliance booth #5409. Duyuru • Sep 21
Spirent Communications plc Announces the Launch of Spirent GNSS Foresight Spirent Communications plc announced the launch of Spirent GNSS Foresight, an innovative cloud-based solution that lets operators know in advance where and when GPS or GNSS positioning is reliable for unmanned and autonomous journeys. GNSS Foresight accurately predicts where and when unmanned vehicles, air taxis, and drones can operate safely and dependably beyond visual line of sight (BVLOS), especially in urban areas where buildings frequently obstruct GNSS signals. The service is the first of its kind and addresses one of the key issues facing developers and operators of unmanned aerial (UAS) and autonomous vehicles. Because GNSS performance can be unpredictable in urban and suburban areas due to signals being obscured or blocked by buildings, autonomous systems have not been able to rely on GNSS for accurate positioning. Recent Insider Transactions • Aug 13
Key Executive recently sold €480k worth of stock On the 11th of August, Paula Bell sold around 140k shares on-market at roughly €3.43 per share. This was the largest sale by an insider in the last 3 months. Paula has been a seller over the last 12 months, reducing personal holdings by €336k. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 16% share price gain to US$3.42, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 27x in the Communications industry in Europe. Total returns to shareholders of 191% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.20 per share. Reported Earnings • Aug 06
First half 2021 earnings released: EPS US$0.049 (vs US$0.053 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: US$255.1m (up 9.2% from 1H 2020). Net income: US$29.6m (down 8.1% from 1H 2020). Profit margin: 12% (down from 14% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 17
Spirent Communications plc Continues to Trailblaze Path to 800G Ethernet Ecosystem with Intel Silicon Photonics Project Spirent Communications plc announced that Intel Silicon Photonics has completed the successful interoperability validation of its 800G Ethernet optical transceiver using the Spirent 800G Solution. This accomplishment highlights extensive collaboration using Spirent’s latest innovation to emulate real-world networks and user activity that facilitate the market-readiness of 800G products across the entire ecosystem. The 800G interconnect demonstration was validated with interoperability extending beyond the optical transceiver to include Ethernet switches in 8x100G mode using four 800G modules, exercising 32 x 100G lanes. The demonstration sent traffic from Spirent 800G modules breaking out to 400G ports in two 12.8 Tbps Ethernet switches. Spirent offers 800G validation solutions for the entire ecosystem, offering interconnect, network equipment manufacturers (NEMs), and hyperscalers multiple options to help implement their 800G solutions. The company helps qualify customers’ equipment so they can determine which supplier will work best with their equipment. For partners, Spirent provides a neutral test solution to validate their vendors. While 400G technology is still relatively new, customers are already looking to Spirent for new 800G test solutions to validate high-density, higher power consuming applications, as the ecosystem looks to deliver even faster capabilities that can maximize capacity of existing space-limited physical locations. Duyuru • Apr 29
Spirent Communications plc Proposes Special Dividend, Payable on April 30, 2021 Spirent Communications plc announced that payment of the previously announced the special dividend of 7.50 cents (5.40 pence) per Ordinary Share totaling $69 million will be made on April 30, subject to shareholder approval at the Annual General Meeting on April 28, 2021. Analyst Estimate Surprise Post Earnings • Mar 12
Revenue misses expectations Revenue missed analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 8.4%, compared to a 1.9% growth forecast for the Communications industry in Germany. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS US$0.14 (vs US$0.13 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: US$522.4m (up 3.7% from FY 2019). Net income: US$84.4m (up 8.2% from FY 2019). Profit margin: 16% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 12
Spirent Communications plc Proposes Full Year Dividend, Payable on 30 April 2021 Spirent Communications plc is recommending the payment of a final dividend for 2020 of 3.87 cents (2.78 pence) per share which, together with the interim dividend of 2.17 cents (1.67 pence) per share paid in September 2020, brings the full year dividend to 6.04 cents (4.45 pence) per share, a dividend cover of 2.4 times adjusted earnings. This is a 12 per cent increase compared to the full year dividend for 2019. In Sterling terms this represents an increase of 4%. Subject to approval by shareholders at the Annual General Meeting on 28 April 2021, the final dividend will be paid on 30 April 2021 to shareholders on the register at 19 March 2021. Duyuru • Mar 11
Spirent Communications plc, Annual General Meeting, Apr 28, 2021 Spirent Communications plc, Annual General Meeting, Apr 28, 2021. Agenda: To consider the final and special dividends. Duyuru • Mar 06
Spirent Communications plc (LSE:SPT) acquired octoScope, Inc. for $73 million. Spirent Communications plc (LSE:SPT) acquired octoScope, Inc. for $73 million on March 5, 2021. The consideration was for an initial cash consideration of $55 million on a debt and cash free basis, with an additional consideration capped at $18 million based on annual revenue growth targets for 2021 and 2022 and retention of key staff. The acquisition will be funded from existing cash resources. octoScope will be incorporated into Spirent's Lifecycle Service Assurance operating segment along with Spirent's emerging Wi-Fi revenue stream currently residing in high-speed Ethernet business within the Networks & Security operating segment. The revenue of octoScope has reported around $20 million for the year 2020, subject to audit.
Spirent Communications plc (LSE:SPT) completed the acquisition of octoScope, Inc. on March 5, 2021. Is New 90 Day High Low • Jan 28
New 90-day low: €2.74 The company is down 13% from its price of €3.16 on 30 October 2020. The German market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 31% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.68 per share. Duyuru • Jan 19
Spirent Communications plc to Report Fiscal Year 2020 Results on Mar 11, 2021 Spirent Communications plc announced that they will report fiscal year 2020 results on Mar 11, 2021 Duyuru • Dec 18
Spirent Communications plc Delivers 5G Core Network Testing Solution for Dialog Axiata Spirent Communications plc announced that it has provided its industry-leading 5G core network testing solution Spirent Landslide to Dialog Axiata, Sri Lanka’s largest mobile operator. Dialog Axiata recently demonstrated a fully standards-based 5G mobile service, integrating 5G network infrastructure with 5G devices, and chose Spirent Landslide for its 5G core network testing to assure performance of the new services. Spirent Landslide emulates 5G devices and network functions to validate new 5G mobile and core nodes, ensuring readiness to deliver high-quality 5G services. To augment its field testing and analysis, Dialog Axiata has also deployed several other leading Spirent solutions, including TestCenter and Avalanche, while Spirent CloudSure will provide insights into Network Functions Virtualization (NFV) and cloud infrastructure performance. This will enable Dialog Axiata to deliver expected Quality of Experience (QoE) to end users and assure successful 5G and SD-WAN deployments that reap maximum benefits from its virtualized environments. Efficient performance of 5G core networks is paramount for the delivery of new 5G services. This is driving operators to expedite realistic and authentic system testing that can emulate real-world conditions, spanning a range of network elements and complex procedures, while meeting higher stability and endurance requirements. Spirent is working closely with Dialog Axiata in all aspects of its 5G core network testing to help accelerate deployment and roll out. Spirent has been working closely with Dialog Axiata since 2018, playing an integral role in network test planning and validation of its next-generation infrastructure, current LTE services, and planned 5G rollout. Spirent is partnering locally with leading engineering services contractor ATSL International (Pvt) Ltd, which specializes in telco system installation and commissioning. ATSL will be providing the first level maintenance of the Dialog Axiata network through its managed services portfolio. Recent Insider Transactions • Nov 21
Key Executive recently bought €144k worth of stock On the 19th of November, Paula Bell bought around 50k shares on-market at roughly €2.88 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Paula has been a net seller over the last 12 months, reducing personal holdings by €430k. Is New 90 Day High Low • Nov 16
New 90-day low: €2.91 The company is down 9.0% from its price of €3.22 on 18 August 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Communications industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.94 per share. Duyuru • Oct 03
Spirent Communications plc Announces the Availability of Spirent Testcenter Virtual in AWS Marketplace Spirent Communications plc announced the availability of Spirent TestCenter Virtual in AWS Marketplace. The cloud-enabled offering of one of the company’s flagship test solutions helps reduce testing complexity for public & hybrid clouds by accelerating the development, testing, and deployment cycles for network services and applications that run on this diversified ecosystem. Network equipment manufacturers and cloud service providers are leveraging continuous integration and continuous delivery (CI/CD) in AWS for their product and service verification. Spirent TestCenter Virtual helps accelerate product verification through an improved CI/CD process. The application simplifies the verification of network services that run on AWS and private hybrid clouds through its ability to run endpoints in both domains simultaneously and by enabling the onboarding of unique new network functions such as network protocol emulation. For enterprises, TestCenter Virtual is accelerating the migration of applications and services from private infrastructure to public and hybrid clouds, while assuring network performance through the ability to run continuous validation and regression in the cloud. It also helps ensure scalability, reliability, and performance of SD-WAN infrastructure and mission-critical applications moving from Enterprise premises to the cloud by augmenting traditional infrastructure testing and assurance techniques with enhanced methodologies to address new service and application layer challenges.