v3.26.1
Segments and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Summary of Financial Information by Reportable Segment

The following table provides summary financial information by reportable segment:

 

 

June 30,
2026

 

 

December 31,
2025

 

Identifiable segment-related assets: (1)

 

 

 

 

 

 

Aurora

 

 

1,830.6

 

 

 

1,629.3

 

Reconciliation to total assets:

 

 

 

 

 

 

Cash and cash equivalents

 

 

113.6

 

 

 

613.5

 

Deferred income tax assets

 

 

460.2

 

 

 

1,722.3

 

Divested and other business assets (2)

 

 

115.3

 

 

 

85.3

 

Assets held for sale

 

 

977.1

 

 

 

5,320.6

 

Total assets

 

$

3,496.8

 

 

$

9,371.0

 
(1)
Assets related to the Company’s reportable segment largely include accounts receivable, inventories, property, plant and equipment, goodwill, intangible assets and certain limited other assets. All other items, except cash and cash equivalents and deferred income tax assets, are reflected in divested and other business assets.
(2)
The divested and other business assets line item above reflects certain inventory retained by the Company related to continuing involvement in divested businesses pursuant to the Amphenol MSA, as discussed in Note 2, as well as other corporate assets. As of June 30, 2026, inventory of $6.4 million related to the OWN segment and DAS business unit, $4.1 million related to the Passive Optical Network (PON) business line within the CCS segment that was not divested with the sale of the CCS segment and $104.8 million related to corporate and other assets. As of December 31, 2025, inventory of $16.6 million related to the OWN segment and DAS business unit, $4.4 million related to the PON business line and $64.3 million related to corporate and other assets.
Summary of Net Sales, Adjusted EBITDA, Depreciation Expense and Additions to PP&E by Reportable Segment

The following table provides net sales, cost of sales, total operating expenses, adjusted EBITDA, depreciation expense and additions to property, plant and equipment by reportable segment for the three months ended June 30, 2026:

 

 

Aurora

 

 

Corporate
and other (1) (2)

 

 

Total

 

Net sales

 

$

319.2

 

 

$

0.4

 

 

$

319.6

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses:

 

 

 

 

 

 

 

 

 

Segment cost of sales

 

 

206.5

 

 

 

0.3

 

 

 

 

Segment operating expenses

 

 

70.0

 

 

 

10.0

 

 

 

 

Addback: Depreciation

 

 

(2.8

)

 

 

(0.2

)

 

 

 

Segment adjusted EBITDA

 

 

45.5

 

 

 

(9.7

)

 

 

35.8

 

Amortization of intangible assets

 

 

 

 

 

 

 

 

(19.0

)

Restructuring costs, net

 

 

 

 

 

 

 

 

(8.4

)

Equity-based compensation

 

 

 

 

 

 

 

 

(6.7

)

Transaction, transformation and integration costs

 

 

 

 

 

 

 

 

(7.6

)

Depreciation

 

 

 

 

 

 

 

 

(3.0

)

Operating loss

 

 

 

 

 

 

 

 

(8.9

)

Other income, net

 

 

 

 

 

 

 

 

6.3

 

Loss from continuing operations before income taxes

 

 

 

 

 

 

 

$

(2.6

)

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

2.8

 

 

$

0.2

 

 

$

3.0

 

Additions to property, plant and equipment

 

$

1.8

 

 

$

—

 

 

$

1.8

 
(1)
The corporate and other category above primarily reflects general corporate costs that were previously allocated to the RUCKUS segment. These indirect expenses have been classified as continuing operations, since the costs were not directly attributable to the discontinued operation. Beginning in the third quarter of 2026, the corporate and other costs related to the RUCKUS segment will be reallocated to the Company’s remaining segment and partially offset by income from the Transition Service Agreement with Belden (Belden TSA).
(2)
The corporate and other category above includes certain revenues reflected within continuing operations related to products associated with businesses impacted by prior divestiture transactions. Such amounts continue to be reported within continuing operations based on the terms of the underlying transactions.

 

The following table provides net sales, cost of sales, total operating expenses, adjusted EBITDA, depreciation expense and additions to property, plant and equipment by reportable segment for the three months ended June 30, 2025:

 

 

 

Aurora

 

 

Corporate
and other (1) (2)

 

 

Total

 

Net sales

 

$

322.5

 

 

$

1.6

 

 

$

324.1

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses:

 

 

 

 

 

 

 

 

 

Segment cost of sales

 

 

170.9

 

 

 

4.8

 

 

 

 

Segment operating expenses

 

 

75.0

 

 

 

25.6

 

 

 

 

Addback: Depreciation

 

 

(3.6

)

 

 

(1.3

)

 

 

 

Segment adjusted EBITDA

 

 

80.2

 

 

 

(27.5

)

 

 

52.7

 

Amortization of intangible assets

 

 

 

 

 

 

 

 

(21.4

)

Restructuring costs, net

 

 

 

 

 

 

 

 

(1.6

)

Equity-based compensation

 

 

 

 

 

 

 

 

(6.4

)

Transaction, transformation and integration costs

 

 

 

 

 

 

 

 

(5.7

)

Depreciation

 

 

 

 

 

 

 

 

(4.9

)

Other

 

 

 

 

 

 

 

 

(4.9

)

Operating income

 

 

 

 

 

 

 

 

7.8

 

Other income, net

 

 

 

 

 

 

 

 

0.6

 

Income from continuing operations before income taxes

 

 

 

 

 

 

 

$

8.4

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

3.6

 

 

$

1.3

 

 

$

4.9

 

Additions to property, plant and equipment

 

$

1.6

 

 

$

1.1

 

 

$

2.7

 
(1)
The corporate and other category above primarily reflects general corporate costs that were previously allocated to the RUCKUS segment and CCS segment. These indirect expenses have been classified as continuing operations, since the costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2026, the corporate and other costs related to the CCS segment have been reallocated to the Company’s remaining segments and partially offset by income from the Amphenol TSA. The corporate and other costs related to the RUCKUS segment will be reallocated to the Company’s remaining segment beginning in the third quarter of 2026 and partially offset by income from the Belden TSA.
(2)
The corporate and other category above includes certain revenues reflected within continuing operations related to products associated with businesses impacted by prior divestiture transactions. Such amounts continue to be reported within continuing operations based on the terms of the underlying transactions.

 

The following table provides net sales, cost of sales, total operating expenses, adjusted EBITDA, depreciation expense and additions to property, plant and equipment by reportable segment for the six months ended June 30, 2026:

 

 

Aurora

 

 

Corporate
and other (1) (2)

 

 

Total

 

Net sales

 

$

617.6

 

 

$

0.4

 

 

$

618.0

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses:

 

 

 

 

 

 

 

 

 

Segment cost of sales

 

 

388.3

 

 

 

0.5

 

 

 

 

Segment operating expenses

 

 

139.4

 

 

 

19.1

 

 

 

 

Addback: Depreciation

 

 

(6.0

)

 

 

(0.3

)

 

 

 

Segment adjusted EBITDA

 

 

95.9

 

 

 

(18.9

)

 

 

77.0

 

Amortization of intangible assets

 

 

 

 

 

 

 

 

(40.6

)

Restructuring costs, net

 

 

 

 

 

 

 

 

(15.1

)

Equity-based compensation

 

 

 

 

 

 

 

 

(11.1

)

Transaction, transformation and integration costs

 

 

 

 

 

 

 

 

(12.3

)

Depreciation

 

 

 

 

 

 

 

 

(6.3

)

Operating loss

 

 

 

 

 

 

 

 

(8.4

)

Other income, net

 

 

 

 

 

 

 

 

28.8

 

Income from continuing operations before income
   taxes

 

 

 

 

 

 

 

$

20.4

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

6.0

 

 

$

0.3

 

 

$

6.3

 

Additions to property, plant and equipment

 

$

2.6

 

 

$

0.2

 

 

$

2.8

 

 

(1)
The corporate and other category above primarily reflects general corporate costs that were previously allocated to the RUCKUS segment. These indirect expenses have been classified as continuing operations, since the costs were not directly attributable to the discontinued operation. Beginning in the third quarter of 2026, the corporate and other costs related to the RUCKUS segment will be reallocated to the Company’s remaining segment and partially offset by income from the Belden TSA.
(2)
The corporate and other category above includes certain revenues reflected within continuing operations related to products associated with businesses impacted by prior divestiture transactions. Such amounts continue to be reported within continuing operations based on the terms of the underlying transactions.

 

The following table provides net sales, cost of sales, total operating expenses, adjusted EBITDA, depreciation expense and additions to property, plant and equipment by reportable segment for the six months ended June 30, 2025:

 

 

Aurora

 

 

Corporate
and other (1) (2)

 

 

Total

 

Net sales

 

$

547.5

 

 

$

12.2

 

 

$

559.7

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses:

 

 

 

 

 

 

 

 

 

Segment cost of sales

 

 

298.3

 

 

 

11.2

 

 

 

 

Segment operating expenses

 

 

138.3

 

 

 

51.2

 

 

 

 

Addback: Depreciation

 

 

(7.5

)

 

 

(2.9

)

 

 

 

Segment adjusted EBITDA

 

 

118.4

 

 

 

(47.3

)

 

 

71.1

 

Amortization of intangible assets

 

 

 

 

 

 

 

 

(45.2

)

Restructuring costs, net

 

 

 

 

 

 

 

 

(11.5

)

Equity-based compensation

 

 

 

 

 

 

 

 

(11.1

)

Transaction, transformation and integration costs

 

 

 

 

 

 

 

 

(10.0

)

Depreciation

 

 

 

 

 

 

 

 

(10.4

)

Other

 

 

 

 

 

 

 

 

(4.9

)

Operating loss

 

 

 

 

 

 

 

 

(22.0

)

Other income, net

 

 

 

 

 

 

 

 

1.2

 

Loss from continuing operations before income taxes

 

 

 

 

 

 

 

$

(20.8

)

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

7.5

 

 

$

2.9

 

 

$

10.4

 

Additions to property, plant and equipment

 

$

2.8

 

 

$

2.4

 

 

$

5.2

 
(1)
The corporate and other category above primarily reflects general corporate costs that were previously allocated to the RUCKUS segment, CCS segment, OWN segment and DAS business unit. These indirect expenses have been classified as continuing operations, since the costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2025, the corporate and other costs related to the OWN segment and DAS business unit have been reallocated to the Company’s remaining segments and partially offset by income from the Amphenol TSA. The corporate and other costs related to the CCS segment have been reallocated to the Company’s remaining segments and partially offset by income from the Amphenol TSA beginning in the first quarter of 2026. Beginning in the third quarter of 2026, the corporate and other costs related to the RUCKUS segment will be reallocated to the Company’s remaining segment and partially offset by income from the Belden TSA.
(2)
The corporate and other category above includes certain revenues reflected within continuing operations related to products associated with businesses impacted by prior divestiture transactions. Such amounts continue to be reported within continuing operations based on the terms of the underlying transactions.
Summary of Sales by Geographic Region, Based on Destination of Product Shipments or Service Provided Sales by geographic region, based on the destination of product shipments or service provided, were as follows:

 

 

Three Months Ended June 30, 2026

 

 

 

Aurora

 

 

Corporate
and other (1)

 

 

Total

 

Geographic Region:

 

 

 

 

 

 

 

 

 

United States

 

$

257.7

 

 

$

0.4

 

 

$

258.1

 

Europe, Middle East and Africa

 

 

14.6

 

 

 

—

 

 

 

14.6

 

Asia Pacific

 

 

14.8

 

 

 

—

 

 

 

14.8

 

Caribbean and Latin America

 

 

17.1

 

 

 

—

 

 

 

17.1

 

Canada

 

 

15.0

 

 

 

—

 

 

 

15.0

 

Consolidated net sales

 

$

319.2

 

 

$

0.4

 

 

$

319.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2025

 

 

 

Aurora

 

 

Corporate
and other (1)

 

 

Total

 

Geographic Region:

 

 

 

 

 

 

 

 

 

United States

 

$

254.2

 

 

$

1.2

 

 

$

255.4

 

Europe, Middle East and Africa

 

 

19.4

 

 

 

0.4

 

 

 

19.8

 

Asia Pacific

 

 

14.4

 

 

 

—

 

 

 

14.4

 

Caribbean and Latin America

 

 

16.8

 

 

 

—

 

 

 

16.8

 

Canada

 

 

17.7

 

 

 

—

 

 

 

17.7

 

Consolidated net sales

 

$

322.5

 

 

$

1.6

 

 

$

324.1

 

 

 

 

Six Months Ended June 30, 2026

 

 

 

Aurora

 

 

Corporate
and other (1)

 

 

Total

 

Geographic Region:

 

 

 

 

 

 

 

 

 

United States

 

$

499.7

 

 

$

0.4

 

 

$

500.1

 

Europe, Middle East and Africa

 

 

40.7

 

 

 

—

 

 

 

40.7

 

Asia Pacific

 

 

24.8

 

 

 

—

 

 

 

24.8

 

Caribbean and Latin America

 

 

25.4

 

 

 

—

 

 

 

25.4

 

Canada

 

 

27.0

 

 

 

—

 

 

 

27.0

 

Consolidated net sales

 

$

617.6

 

 

$

0.4

 

 

$

618.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2025

 

 

 

Aurora

 

 

Corporate
and other (1)

 

 

Total

 

Geographic Region:

 

 

 

 

 

 

 

 

 

United States

 

$

413.0

 

 

$

10.6

 

 

$

423.6

 

Europe, Middle East and Africa

 

 

41.0

 

 

 

1.6

 

 

 

42.6

 

Asia Pacific

 

 

23.2

 

 

 

—

 

 

 

23.2

 

Caribbean and Latin America

 

 

31.9

 

 

 

—

 

 

 

31.9

 

Canada

 

 

38.4

 

 

 

—

 

 

 

38.4

 

Consolidated net sales

 

$

547.5

 

 

$

12.2

 

 

$

559.7

 
(1)
The corporate and other category above includes certain revenues reflected within continuing operations related to products associated with businesses impacted by prior divestiture transactions. Such amounts continue to be reported within continuing operations based on the terms of the underlying transactions.