Keysight Technologies, Inc.

“We generated $5.4 billion, $5.0 billion, and $5.5 billion of revenue in 2025, 2024, and 2023, respectively.”

“Our revenue is derived primarily from solutions addressing research and development ("R&D") applications, and to a lesser degree, applications in manufacturing and operations.”

“Revenue from CSG and EISG represented approximately 69 percent and 31 percent, respectively, of total revenue for 2025.”

“including communications, aerospace, defense, and government, automotive, energy, industrial, general electronics, and semiconductor.”

“We employ a diversified go-to-market approach with indirect sales partners and electronic commerce to complement our direct sales force.”

“Revenue was $5,375 million, $4,979 million, and $5,464 million in 2025, 2024, and 2023, respectively. Revenue of $5,375 million for 2025 increased 8 percent compared to 2024.”

“Our revenues, costs and expenses, and monetary assets and liabilities are exposed to changes in foreign currency exchange rates due to our global operating, investing, and financing activities. We hedge revenues, expenses, and balance sheet exposures”

“We complement our in-house capabilities with an extensive network of suppliers and subcontractors, which allows us to adapt to changing market conditions.”

“We employ variable pay mechanisms across our entire employee population and complement this with the strategic use of contingent staffing.”

“On October 17, 2025, we acquired the Optical Solutions Group business ("OSG") from Synopsys, Inc. ("Synopsys") and the PowerArtist RTL business ("PowerArtist") from Ansys, Inc. ("Ansys") for $578 million and $26 million, respectively.”

“On October 15, 2025, we acquired all of the outstanding common stock of Spirent Communications plc ("Spirent") for $1,415 million, net of $127 million cash acquired, using existing cash. On October 16, 2025, Keysight divested Spirent's high-speed ethernet, network security, and channel emulation business lines for $399 million to Viavi Solutions Inc. ("Viavi") in connection with satisfying the regulatory conditions set out as part of the Spirent acquisition.”

“On February 21, 2024, we acquired all the outstanding share capital of Riscure Holding B.V. ("Riscure") for $78 million, net of cash acquired”

“We develop and incorporate proprietary semiconductor and packaging technologies to deliver differentiated performance within our industry.”

“The accelerating pace of technological innovation and engineering intensity are long-term secular drivers of demand for Keysight's solutions and services.”

“Our legacy of over 80 years of contribution in measurement science and the resulting breadth of our products and solutions yields a large, global installed base.”

“In 2025, we invested $1,007 million in R&D. We employ vertical technology integration that leverages investments in core hardware technology, such as advanced semiconductor capability provided by our in-house fab”

“With a software- and customer-centric focus, we continue to make strategic investments to expand the R&D component of our revenue mix and grow the software and services content of our business, which has the added benefit of increasing recurring revenue.”

“HP's remediation obligations relating to Keysight's Colorado Springs facility are ongoing.”

“Our customers are expected to continue to make R&D investments in certain next-generation technologies and applications, including evolution of 5G, early 6G, high-speed data center networks and infrastructure, satellite networks, artificial intelligence ("AI"), industrial internet of things ("IoT"), defense modernization, and next generation electric vehicles and autonomous vehicles.”

“Orders were $5,452 million, $5,033 million, and $5,190 million in 2025, 2024, and 2023, respectively. Orders of $5,452 million for 2025 increased 8 percent compared to 2024.”

“As of October 31, 2025, our backlog was approximately $2,697 million compared to approximately $2,375 million as of October 31, 2024.”

“Net income was $850 million, $614 million, and $1,057 million in 2025, 2024, and 2023, respectively. Net income of $850 million for 2025 increased 38 percent compared to 2024”

“Net revenue$5,726 $5,332”

“Developed technology$270 6Multi-period excess earnings”

“Beginning in the second quarter of fiscal 2025, the U.S. government announced tariffs on products from most countries and additional reciprocal tariffs on certain countries. ... These tariffs have impacted our financial results for the year ended October 31, 2025.”

“We sell products and solutions to customers all over the world and are required to comply with the U.S Export Administration Regulations and economic and trade sanctions programs that limit or ban sales into certain countries.”

“we must comply with complex foreign and U.S. laws and regulations, such as the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, and other local laws prohibiting corrupt payments to governmental officials”

“we must comply with complex regulations governing data privacy, including the General Data Protection Regulation ("GDPR") in the European Union”

“Global and regional economic volatility and uncertainty, inflation and potential recession has and may continue to impact our business”

“In February 2022, the U.S. imposed economic sanctions and other restrictions on Russia following its invasion of Ukraine. As a result, after an initial suspension of operations in Russia, we permanently discontinued our Russian operations and are exiting Russia.”

“In May 2021, the company disclosed its commitment to achieving net zero Scope 1 and Scope 2 emissions by the end of fiscal year 2040.”

“We centralize most of our accounting processes at two locations: India and Malaysia. If conditions change in those countries, it may adversely affect operations, including impairing our ability to pay our suppliers.”

“Commencing in the second quarter of fiscal 2025, new U.S. tariffs applying to imports from all countries were announced, including significantly higher rates on imports from China.”

“Regional conflicts, including the Russian invasion of Ukraine, which resulted in economic sanctions and the decision to discontinue our operations in Russia, conflict in the Middle East, and the risk of increased tensions between China and Taiwan, could limit or prohibit our ability to transfer certain technologies”

“On January 1, 2022, Centripetal Networks filed a lawsuit in Federal District Court in Virginia, alleging that certain Keysight products infringe certain of Centripetal's patents.”

“California and our production facilities in Japan are all located in areas with above-average seismic activity. ... Since we have consolidated our manufacturing facilities, we are more likely to experience an interruption to our operations in the event of a catastrophe in any one location.”