Keysight Technologies

Keysight Technologies, Inc. (Keysight) is a U.S. company based in Santa Rosa, California that makes electronic design, emulation and test software and equipment. It calls itself a design enablement partner for complex engineering challenges. Its customers work in AI infrastructure, communications, industrial automation, aerospace and defense, automotive, semiconductor and general electronics. It has two segments: Communications Solutions Group (CSG) and Electronic Industrial Solutions Group (EISG).

Its fiscal year ends October 31. In fiscal 2025, revenue was $5.37 billion and non-GAAP EPS was $7.16. In Q3 of fiscal 2026, revenue was $1,846 million, up 36%, and orders were $2,091 million, up 56%. In October 2025, Keysight bought Spirent Communications for $1,564 million and the Optical Solutions Group of Synopsys for $581 million.

Satish Dhanasekaran is President and Chief Executive Officer. Jason Kary becomes Chief Financial Officer on December 18, 2026, after Neil Dougherty.

The market prices Keysight as a test and measurement company whose surge in orders depends on a few cyclical areas, mainly AI data center networks. Revenue rose 36% in Q3 of fiscal 2026 and orders rose 56%, but investors doubt that the AI-driven growth lasts, and customers can cut test spending quickly. The results also include acquisitions, with Spirent adding $61 million of revenue in Q3, and Keysight changes its finance chief in December 2026. For the shares to earn more, three things must be true.

Orders must stay above revenue, as they did in Q3 with $2,091 million of orders against $1,846 million of revenue, so that the Q4 outlook and fiscal 2027 revenue hold. Margins must stay high as the Spirent and Synopsys optical businesses are integrated. And free cash flow, $1,282 million in nine months, must keep funding repurchases under the $1.5 billion program and the repayment of $700 million of notes due 2027. The Q4 fiscal 2026 report on November 19, 2026, with the first comments on fiscal 2027, and the orders of the next quarters are the first tests.

1. Aug 18, 2026Passed

   Q3 fiscal 2026 results: orders and revenueOrders above revenue with revenue growth of 30% or more passes; falling orders fail.Outcome: Orders rose 56% to $2,091 million against revenue of $1,846 million, up 36%.
2. Nov 19, 2026Pending

   Q4 fiscal 2026 results and first fiscal 2027 commentsRevenue inside $1.930 billion to $1.950 billion and non-GAAP EPS inside $3.34 to $3.40 pass; a miss on either fails.
3. Dec 18, 2026Pending

   New Chief Financial Officer takes officeA smooth handover with no change to guidance practice passes; a guidance cut linked to the change fails.
4. Feb 2027 · est.Pending

   Q1 fiscal 2027 results: orders after the AI surgeOrders above revenue with revenue near $1.9 billion or more pass; orders below revenue fail.

Every passed and failed checkpoint across all picks

• November 2, 2026Keysight named Jason Kary, President of its Electronic Industrial Solutions Group, as Chief Financial Officer from December 18, 2026. He succeeds Neil Dougherty, who stays as an advisor for fiscal 2027. Keysight did not change its Q4 outlook and confirmed that it will report on November 19, 2026.
• September 2, 2026Keysight filed its Form 10-Q for Q3 of fiscal 2026. It recorded a $100 million receivable for refunds of tariffs that the U.S. Supreme Court ruled unlawful in February 2026, and a $40 million liability to refund tariff surcharges to customers. The net effect in nine months was minus $40 million of revenue and plus $57 million of income from operations.
• August 26, 2026Keysight appointed Scott Reese, a former head of GE Vernova's Electrification Software business, to its board of directors.

Last earnings

August 18, 2026 (8-K on sec.gov)

Next earnings

November 19, 2026, as the company confirmed.

• 8-KChange of directors or officersFiled November 2, 2026 · keys-20261029
• 10-QQuarterly report for the period ended Jul 31, 2026Filed September 2, 2026 · keys-20260731
• 8-KChange of directors or officersFiled August 26, 2026 · keys-20260826
• 8-KEarnings releaseFiled August 18, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Apr 30, 2026Filed June 4, 2026 · keys-20260430
• 8-KEarnings releaseFiled May 19, 2026 · Press release and exhibits
• 8-KNew debt or financial obligationFiled April 23, 2026 · keys-20260421
• 8-KShareholder vote resultsFiled March 24, 2026 · keys-20260319
• 8-KChange of directors or officersFiled March 13, 2026 · keys-20260312
• 10-QQuarterly report for the period ended Jan 31, 2026Filed March 5, 2026 · keys-20260131

Every filing on SEC EDGAR (CIK 1601046)

• Demand is cyclical and now leans on AI infrastructure and communications. Commercial communications revenue grew 56% in Q3 of fiscal 2026, and a pause in data center spending would cut orders and earnings quickly.
• Keysight bought Spirent and the Synopsys optical business in October 2025. Integration can cost more than planned, and acquisition-related amortization was $72 million in Q3.
• Tariffs and trade rules affect costs and sales. Keysight books refunds of tariffs that the Supreme Court found unlawful, but new tariffs, such as Section 301 forced labor tariffs, are a new risk.
• Keysight changes its finance chief on December 18, 2026, after 13 years, and its Electronic Industrial Solutions Group will report to the head of CSG. Handover mistakes could weaken planning and guidance.
• Commitments to contract manufacturers and suppliers were $704 million at July 31, 2026, against $450 million at the end of fiscal 2025. A fall in demand would leave Keysight with excess supply.

Keysight funds itself with cash flow and senior notes. At July 31, 2026, cash and cash equivalents were $2,605 million and debt was $2,517 million, from senior notes with a face value of $2,550 million: $700 million at 4.60% due 2027, $500 million at 3.00% due 2029, $750 million at 5.35% due 2030 and $600 million at 4.95% due 2034. Read more

Keysight Technologies does not pay a dividend.

Source: company filings and market data, read on November 13, 2026.