Spirent Communications (SPT) Trading Update summary

Group performance

• Orders and revenue for Q1 2025 matched both internal plans and the same period last year.

• Maintained a strong orderbook, with continued investment in the product roadmap despite market challenges.

• Positioning business secured a pioneering contract to simulate the lunar environment, expanding into space exploration.

• Assurance solutions saw minor delays, offset by robust demand for high-speed Ethernet, AI solutions, and data center support.

• Monitoring tariff changes and implementing surcharges and logistical adjustments to mitigate impacts.

Financial position

• Ended March 2025 with a cash position of $149 million, reflecting effective cash management.

Update on recommended cash offer by Keysight Technologies

• UK Competition and Markets Authority unconditionally cleared the Keysight acquisition in March 2025.

• Several transaction conditions have been satisfied; remaining clearances from US and China are in progress.

• Scheme expected to become effective during Keysight's current fiscal Q3, ending 31 July 2025.