KEYS 10-K Annual Reports

Keysight Technologies, Inc. reported a strong financial year ending October 31, 2025, with revenue increasing by 8% to $5.375 billion, driven by growth in both the Communications Solutions Group (CSG) and Electronic Industrial Solutions Group (EISG). This growth was fueled by customer investments in next-generation technologies such as AI, high-speed networks, and defense modernization. The company executed significant strategic acquisitions during the year, including Spirent Communications plc, Synopsys' Optical Solutions Group (OSG), and Ansys' PowerArtist RTL business. These acquisitions are expected to expand Keysight's portfolio and market reach, particularly in communications test and design engineering software. Despite increased R&D and acquisition-related expenses, Keysight demonstrated improved profitability, with net income rising 38% year-over-year to $850 million. Looking ahead, Keysight remains optimistic about long-term growth trends in its markets, supported by its first-to-market solutions strategy and continued R&D investments. The company's robust backlog and focus on expanding its software and services offerings position it well to navigate macroeconomic uncertainties and capitalize on emerging technological advancements.

Keysight Technologies, Inc. reported a challenging fiscal year 2024, with revenue declining by 9% to $4.979 billion compared to $5.464 billion in fiscal year 2023. This decline was primarily driven by lower customer demand amidst a challenging macroeconomic environment characterized by high interest rates and geopolitical tensions. Net income saw a significant decrease of 42% year-over-year, falling to $614 million from $1.057 billion in fiscal year 2023. This was attributed to lower revenues, increased acquisition and integration costs, and restructuring expenses. Despite the near-term headwinds, Keysight remains focused on its long-term strategy of delivering differentiated, first-to-market solutions and capturing opportunities in emerging technologies like 5G/6G, AI, and advanced automotive systems. The company actively pursued strategic acquisitions in fiscal year 2024, including ESI Group SA, Riscure Holding B.V., and AnaPico AG, to broaden its software offerings and expand its reach in key markets. Management expressed confidence in the company's durable and resilient business model and its ability to navigate market conditions and deliver long-term value.

Keysight Technologies, Inc. (KEYS) reported revenue of $5.464 billion for the fiscal year ended October 31, 2023, a slight increase of 1% year-over-year, despite a 13% decline in orders. This performance was driven by strong revenue in the Electronic Industrial Solutions Group (EISG), which grew 10%, offsetting a 3% decrease in the Communications Solutions Group (CSG). Net income for the year decreased by 6% to $1.057 billion, impacted by higher operating expenses, particularly R&D and SG&A, and a significant increase in income tax expense. Despite the challenging macroeconomic environment and cautious customer spending leading to lower orders, Keysight demonstrated resilience through its differentiated solutions and focus on key growth areas like next-generation automotive, high-speed data centers, and defense modernization. The company also advanced its strategic initiatives, including key acquisitions aimed at expanding its software capabilities and moving further upstream in customer design cycles. Financially, Keysight maintained a strong liquidity position with substantial cash reserves and generated significant operating cash flow. The company continued its share repurchase program, underscoring its commitment to returning capital to shareholders. Looking ahead, Keysight remains confident in its long-term growth prospects, driven by secular trends in its served markets, despite ongoing macroeconomic uncertainties.

Keysight Technologies, Inc. reported strong revenue growth in fiscal year 2022, reaching $5.4 billion, a 10% increase from the previous year, driven by robust demand across both its Communications Solutions Group and Electronic Industrial Solutions Group. The company's strategic focus on electronic design and test solutions for evolving technologies like 5G, electric vehicles, and digital transformation continues to yield positive results, with significant investments in R&D to maintain its technology leadership. The company demonstrated solid profitability with net income of $1.12 billion, up 26% year-over-year. Keysight's diversified customer base across various industries, including commercial communications, aerospace, defense, automotive, and energy, contributes to its resilience. Despite macroeconomic headwinds such as inflation and supply chain disruptions, Keysight managed these challenges effectively through product redesign and alternate sourcing, maintaining a strong backlog of $2.55 billion at year-end.

Keysight Technologies, Inc. reported strong performance in fiscal year 2021, with total revenue reaching $4.94 billion, a significant 17% increase year-over-year. This growth was primarily driven by robust demand across both its Communications Solutions Group (CSG) and Electronic Industrial Solutions Group (EISG) segments, reflecting strong customer investments in key technology areas like 5G, automotive, and semiconductors. The company's strategy to expand its software-centric solutions and focus on recurring revenue streams, alongside investments in first-to-market solutions and complete customer offerings, appears to be paying off. Keysight demonstrated improved profitability with operating margins increasing to 21.9% in 2021. Furthermore, the company ended the fiscal year with a strong backlog of $2.115 billion, indicating continued demand for its products and services. Financially, Keysight generated substantial operating cash flow and maintained a healthy liquidity position. The company also actively repurchased its stock under an authorized program, signaling confidence in its financial health and commitment to shareholder returns. Looking ahead, Keysight remains optimistic about long-term secular market growth trends, despite ongoing monitoring of macroeconomic factors and supply chain challenges.

Keysight Technologies, Inc. reported revenues of $4.22 billion for the fiscal year ended October 31, 2020. The company's business is focused on providing electronic design and test solutions across various industries, with a significant portion of its revenue generated from the Communications Solutions Group, serving the commercial communications and aerospace/defense/government sectors. The Electronic Industrial Solutions Group targets automotive, energy, and general electronics markets. The company's strategy emphasizes expanding software-centric solutions, a shift towards subscription-based models, and providing complete solutions with services. Keysight is actively investing in high-growth areas like 5G, automotive, and IoT. Despite a slight revenue dip compared to the prior year, primarily due to COVID-19 impacts on operations and supply chains, the company demonstrated resilience with stable orders and a focus on operational efficiency, leading to improved gross and operating margins compared to the previous fiscal year. The company also continues to return value to shareholders through its stock repurchase program.

Keysight Technologies, Inc. (KEYS) reported strong revenue growth of 11% to $4.3 billion for the fiscal year ended October 31, 2019, driven by its Communications Solutions Group, which benefited from increased investments in 5G and data center technologies. The company demonstrated improved profitability, with net income increasing significantly year-over-year, largely due to the absence of a large goodwill impairment charge recorded in the prior year and operational efficiencies. Keysight continues to invest in research and development, focusing on emerging technologies like 5G and automotive advancements. Its diversified business segments—Communications Solutions, Electronic Industrial Solutions, and Ixia Solutions—all contributed to top-line growth, with no single customer accounting for more than 10% of revenue, indicating a healthy customer base and reduced single-customer dependency. The company's strategy of delivering first-to-market solutions and expanding its software and services portfolio appears to be driving positive results.

Keysight Technologies, Inc. reported strong net revenue growth of 22% to $3.88 billion for the fiscal year ended October 31, 2018, up from $3.19 billion in 2017. This growth was significantly driven by acquisitions, including Ixia, which expanded the company's offerings in network test and visibility solutions. The Communications Solutions Group and Electronic Industrial Solutions Group showed robust performance, with the latter benefiting from strong demand in automotive and energy sectors. However, the company incurred a substantial goodwill impairment charge of $709 million related to the Ixia Solutions Group, leading to a net loss of $165 million for the year, a significant decrease from the $102 million net income in the prior year. Despite the net loss, operating cash flow remained strong at $555 million, and the company ended the year with a healthy cash position. Keysight continues to invest in R&D for future growth, particularly in areas like 5G and autonomous vehicles.

Keysight Technologies, Inc. (KEYS) reported a significant increase in net revenue in fiscal year 2017, reaching $3.2 billion, up from $2.9 billion in fiscal year 2016. This growth was largely driven by strategic acquisitions, notably Ixia for $1.622 billion and ScienLab for $60 million. These acquisitions expanded Keysight's capabilities in network testing, visibility, security, and automotive e-mobility solutions. The company's revenue growth was also supported by strong performance in its Electronic Industrial Solutions Group, particularly in semiconductor measurement and the automotive and energy markets. While the Communications Solutions Group saw flat revenue due to mixed performance in its sub-segments, the overall revenue increase and expanded market reach highlight Keysight's strategic execution. Despite increased operating expenses, including R&D and SG&A driven by acquisitions, the company is positioning itself for future growth in evolving technology sectors like 5G and electric vehicles.

Keysight Technologies, Inc. (KEYS) reported net revenue of $2.918 billion for the fiscal year ended October 31, 2016, a modest 2% increase year-over-year, largely driven by the acquisition of Anite plc in August 2015. The company operates across three main segments: Communications Solutions Group (CSG), Electronic Industrial Solutions Group (EISG), and Services Solutions Group (SSG). While net revenue showed slight growth, net income declined to $335 million from $513 million in the prior year, impacted by increased R&D expenses, acquisition-related intangible amortization, and integration costs. However, operating cash flow remained robust at $416 million. Strategically, Keysight is focusing on new wireless communication measurement solutions, particularly for 5G, expanding its software offerings, and leveraging its broad portfolio of hardware and services. The company has a strong technological foundation with over 75 years of experience and maintains leadership in several core instrumentation categories. Geographically, 65% of revenue was generated outside the United States, demonstrating a significant international footprint. Keysight also executed a $200 million share repurchase program, signaling a commitment to returning value to shareholders.

This filing represents Keysight Technologies, Inc.'s 2016 Annual Report on Form 10-K, detailing its corporate structure, agreements, and operational framework as of May 4, 2016. The report primarily lists various exhibits that form part of the company's established governance and operational foundation. These include critical agreements related to its separation from Agilent Technologies, Inc., such as the Separation and Distribution Agreement, Services Agreement, and various intellectual property and tax matters agreements. The exhibits also cover the company's capital structure, including its Certificate of Incorporation and Bylaws, as well as debt instruments like the Indenture and Guarantee for its notes. Furthermore, a significant portion of the listed exhibits pertains to executive compensation and employee benefit plans, including stock purchase, equity incentive, and deferred compensation plans, alongside severance agreements. For investors, the key takeaway from this filing is the comprehensive set of foundational legal and operational documents that underpin Keysight's existence and its relationship with its former parent company. The detailed agreements surrounding the spin-off from Agilent highlight the formalization of Keysight's independent operations. Additionally, the extensive list of compensation and benefit plans indicates a structured approach to employee and executive remuneration, which is a crucial aspect for understanding corporate governance and potential future equity dilution. Investors should review these agreements to understand the framework within which Keysight operates and manages its workforce and financial obligations.

Keysight Technologies, Inc. operates as a dedicated measurement company, spun off from Agilent Technologies in November 2014. For the fiscal year ended October 31, 2015, the company reported net revenue of $2.86 billion, a slight decrease from the previous year. The company experienced a net income of $513 million, a significant increase driven by a substantial tax benefit. A key strategic move during the year was the acquisition of Anite for $558 million, which strengthened Keysight's wireless software and network testing capabilities. The business is structured into two segments: Measurement Solutions, which generates the majority of revenue through hardware and software products, and Customer Support and Services, providing repair and calibration. Keysight serves diverse markets including communications, aerospace and defense, and industrial, computer, and semiconductor sectors. The company emphasizes its long history of technological leadership, a broad product portfolio, and a global sales channel as key strengths. While facing competitive pressures and market cyclicality, Keysight is focused on investing in R&D for new wireless and modular solutions to drive future growth.

Keysight Technologies, Inc. (KEYS), a spin-off from Agilent Technologies, Inc., officially became an independent publicly-traded company on November 1, 2014. The company provides electronic measurement solutions, encompassing instruments, systems, software, and services, catering to the communications and electronics industries. For fiscal year 2014, Keysight reported net revenue of $2.9 billion, with 64% generated from international markets. The company operates through two segments: Measurement Solutions, which accounts for the majority of revenue, and Customer Support and Services. Keysight's strategy focuses on investing in product development, particularly in wireless communication, modular solutions, and software, to address evolving market demands driven by faster data rates and new technology standards. The company highlights its 75-year legacy of innovation, technology leadership, a broad product portfolio, commitment to quality, a large customer installed base, and a global sales channel as key strengths. Despite a competitive landscape, Keysight is positioned to leverage its expertise to drive future growth. Investors should note the significant R&D expenditures and the company's focus on new product introductions to maintain its competitive edge in a rapidly changing technological environment. The company also raised $1.1 billion in senior notes in October 2014 to fund its operations and liquidity needs.