Adtran Stock ADTN
ADTRAN Holdings is a provider of networking and communications equipment and software, primarily serving telecommunications service providers, enterprises, hyperscalers, and government customers globally. Adtran stock (ADTN): Quarterly and annual results since 2023 from Quarterly Report and SEC filings: revenue, earnings, balance sheet, cash flow and management guidance, every figure with its source. As of 08/2026, quarterly reporting. Stock analysis by NadirAlpha. Adtran stock (ADTN): listed on Nasdaq, index Russell 2000, WKN A3C7M6. NadirAlpha has evaluated 56 original documents, cross-checked every figure automatically and linked each to its source; sources as of 08/2026. Revenue Q2 2026: USD 281 million (+6% year on year). Latest reported (Q2 2026): Net cash provided by operating activities (Q2), DSO days, Cloud/Hyperscaler/Enterprise/Government revenue growth YoY. Latest reading: Margin compressing, Guidance cut.
AI-generated report · not investment advice · figures extracted automatically; please verify against the linked original more
Adtran Current Status
The current state of Adtran at a glance, figures as of Q2 2026, with core figures and the key management statements from the latest filing. NadirAlpha methodology
Assessment by NadirAlpha, as of Q2 2026.
“Demand across our end markets remained strong during the quarter led by the results of our Optical Networking Solutions business. While our second quarter results were affected by a specific set of near-term factors, it does not change the underlying strength or trajectory of our business.”
“Our strategic priorities remain on track. We continue to gain momentum in optical networking while increasing diversity across cloud providers/hyperscalers, enterprise, and government customers, with revenue from these customers growing 47% year-over-year. We remain committed to our long-term operating model and remain confident that our strategy will deliver long-term shareholder value.”
Adtran Stock: Key Figures ($ million)
The core financial figures of Adtran stock in three views: fiscal years up to FY2026, half-years and quarters up to Q2 2026, in $ million, most recent period first. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Fiscal years
| Period | Revenue | Op. income | Op. income (adj.) | Net income | EPS ($) | EPS adj. ($) | OCF | Source |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 1,083.8 | -15.6 | 51.7 | -45.7 | -0.52 | 0.24 | 129.8 | 32 |
| FY2024 | 922.7 | -427.6 | -2.9 | -459.9 | -5.79 | -0.17 | 103.6 | 22 |
| FY2023 | 1,149.1 | -223.7 | -9.9 | -268.9 | -3.43 | -1.37 | -43 | 12 |
Quarters
| Period | Published | Revenue | Op. income | Op. income (adj.) | Net income | EPS ($) | EPS adj. ($) | FCF | Cash | Net Debt | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2* | 2026-07-22 | 281.1 | -10.1 | 10.6~ | -10.9 | -0.13 | 0.03 | 17 | 79.2 | 114.6 | 36 |
| 2026-Q1* | 2026-05-05 | 286.1 | 6.4 | 19.9 | -1.3 | -0.01 | 0.14 | 5.2 | 88.3 | 105.2 | 34 |
| 2025-Q4* | 2026-01-22 | 291.6 | 4.5 | 18.8 | -3.6 | -0.02*≈ | 0.16 | 30.6 | 95.7 | 97.3 | 31 |
| 2025-Q3* | 2025-11-04 | 279.4 | -2.8 | 15.1 | -10.3 | -0.12 | 0.04 | 4.2 | 93.7 | 99.2 | 29 |
| 2025-Q2* | 2025-07-16 | 265.1 | -13.3 | 8 | -20.5 | -0.24 | 0.01 | 27.5 | 106.3 | – | 26 |
| 2025-Q1* | 2025-05-08 | 247.7 | -4 | 9.8 | -11.3 | -0.14 | 0.03 | 35.8 | 101.3 | – | 23 |
| 2024-Q4* | 2025-02-27 | 242.9 | -16.8 | 5.8 | -46.1 | -0.58 | 0.01 | -0.9 | 76 | – | 21 |
| 2024-Q3* | 2024-11-07 | 227.7 | -26.1 | 0.5 | -33.3 | -0.38 | -0.07 | 37.1 | 88.5 | – | 19 |
| 2024-Q2* | 2024-08-06 | 226 | -38.5 | 1.4 | -49.7 | -0.63 | -0.09 | 8.4 | 111.2 | – | 17 |
| 2024-Q1* | 2024-05-03 | 226.2 | -346.2 | -10.6 | -330.8 | -4.20 | -0.02 | 24.4 | 106.8 | – | 14 |
| 2023-Q4* | 2024-02-27 | 225.5 | -40 | -3.2 | -109.6 | -1.40 | -1.09 | -23.1~ | 87.2 | – | 11 |
| 2023-Q3* | 2023-10-17 | 272.3 | -89.3 | -5.1 | -78.2 | -1.00 | -0.14 | -6.7 | 116.1 | – | 8 |
| 2023-Q2* | 2023-08-07 | 327.4 | -44.6 | 3.6 | -38.7 | -0.50 | 0.00 | -27.9 | 124.3 | – | 6 |
| 2023-Q1* | 2023-04-11 | 323.9 | -49.7 | -5.2 | -39.7 | -0.51 | -0.14 | -28.4 | 136.5 | – | 3 |
Adtran Balance Sheet & Cash Flow ($ million)
Point-in-time balance sheet items of Adtran (cash, financial debt) and cash flow items per fiscal year, half-year and quarter, derived values with their formula in the popover. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology
Fiscal years
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | 2026-02-26 | 95.7 | 193 | 97.3 | 92.5 | 129.8 | 31.7 | 98 | 32 |
| FY2024 | 2025-03-03 | 76 | – | – | 90.5 | 103.6 | 34.5 | 69.1 | 22 |
| FY2023 | 2024-03-15 | 87.2 | – | – | 112.9 | -43 | 36.3 | -79.4 | 12 |
Quarters
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2 | 2026-08-04 | 79.2 | 193.8 | 114.6 | 25.6 | 25.9 | 8.9 | 17 | 138 |
| 2026-Q1 | 2026-05-05 | 88.3 | 193.4 | 105.2 | 24.9 | 12.7 | 7.5 | 5.2 | 34 |
| 2025-Q4 | 2026-02-26 | 95.7 | 193 | 97.3 | 24.2 | 42.2 | 11.7 | 30.6 | 32 |
| 2025-Q3 | 2025-11-04 | 93.7 | 192.9 | 99.2 | 23.3 | 12.2 | 8 | 4.2 | 29 |
| 2025-Q2 | 2025-08-05 | 106.3 | – | – | 23.4 | 32.2 | 4.7 | 27.5 | 27 |
| 2025-Q1 | 2025-05-08 | 101.3 | – | – | 21.6 | 43.2 | 7.4 | 35.8 | 23 |
| 2024-Q4 | 2025-05-20 | 76 | – | – | 22.6 | 2.4 | 3.3 | -0.9 | 24 |
| 2024-Q3 | 2024-11-07 | 88.5 | – | – | 24.8 | 43.3 | 6.2 | 37.1 | 19 |
| 2024-Q2 | 2024-08-09 | 111.2 | – | – | 23.4 | 19.9 | 11.5 | 8.4 | 18 |
| 2024-Q1 | 2024-05-07 | 106.8 | – | – | 22.4 | 37.9 | 13.5 | 24.4 | 15 |
| 2023-Q4 | 2024-03-15 | 87.2 | – | – | 21.5 | -13.7 | 9.4~ | -23.1~ | 13 |
| 2023-Q3 | 2023-11-09 | 116.1 | – | – | 23.9 | 6.8 | 13.6 | -6.7 | 10 |
| 2023-Q2 | 2023-08-07 | 124.3 | – | – | 32.7 | -16.2 | 11.7 | -27.9 | 6 |
| 2023-Q1 | 2023-05-10 | 136.5 | – | – | 33.4 | -19.9 | 8.4 | -28.4 | 5 |
Adtran Guidance Tracking (latest per metric/period · 16/24)
All forecasts (guidance) of the Adtran management and their later outcome: per metric and period the most recent statement applies, the status is checked against the reported actuals. NadirAlpha methodology
Actuals: revenue in $m · ratios in %
Direction: confirmedcutinitiatedraised Verdict: in linemisspending
| For period | Guided on | Metric | Guided | Actual | Verdict | Direction | Source |
|---|---|---|---|---|---|---|---|
| 2026-Q3 | 2026-07-22 | Revenue | 275–295 | – | 38 | ||
| 2026-Q3 | 2026-07-22 | Operating margin | 1.5–5.5% | – | 38 | ||
| 2026-Q2 | 2026-07-22 ° | Revenue | 280–282 | 281.1 | 36 | ||
| 2026-Q2 | 2026-07-22 ° | Operating margin | 3.5–4% | -3.6 | 36 | ||
| 2026-Q1 | 2026-02-26 | Revenue | 275–295 | 286.1 | 33 | ||
| 2026-Q1 | 2026-02-26 | Operating margin | 4–8% | 2.2 | 33 | ||
| FY2025 | 2026-01-22 ° | Revenue | 1,082.2–1,085.2 | 1,083.8 | 31 | ||
| FY2025 | 2023-11-07 | Operating margin | low teens for the full year 2025 | -1.4 | – | 9 | |
| 2025-Q4 | 2026-01-22 ° | Revenue | 290–293 | 291.6 | 31 | ||
| 2025-Q4 | 2026-01-22 ° | Operating margin | 6–6.9% | 1.5 | 31 | ||
| 2025-Q3 | 2025-08-05 | Revenue | 270–280 | 279.4 | 28 | ||
| 2025-Q3 | 2025-08-05 | Operating margin | 3–7% | -1 | 28 | ||
| 2025-Q2 | 2025-07-16 ° | Revenue | 262.5–267.5 | 265.1 | 26 | ||
| 2025-Q2 | 2025-05-08 | Operating margin | 0–4% | -5 | 23 | ||
| 2025-Q1 | 2025-02-27 | Revenue | 237.5–252.5 | 247.7 | 21 | ||
| 2025-Q1 | 2025-02-27 | Operating margin | 0–4% | -1.6 | 21 | ||
| 2024-Q4 | 2024-11-07 | Revenue | 230–245 | 242.9 | 19 | ||
| 2024-Q4 | 2024-11-07 | Operating margin | 0–4% | -6.9 | 19 | ||
| 2024-Q3 | 2024-08-06 | Revenue | 215–235 | 227.7 | 17 | ||
| 2024-Q3 | 2024-08-06 | Operating margin | -1–3% | -11.5 | – | 17 | |
| 2023-Q4 | 2023-11-07 | Revenue | 210–240 | 225.5 | 9 | ||
| 2023-Q4 | 2023-11-07 | Operating margin | 0–7% | -17.7 | 9 | ||
| 2023-Q1 | 2023-04-11 ° | Revenue | 322–326 | 323.9 | 3 | ||
| 2023-Q1 | 2023-04-11 ° | Operating margin | -17–-14% | -15.3 | 3 |
Adtran Stock: Price & Chart
Price history of Adtran stock (ADTN) as a TradingView chart, loaded only after a click, alongside the trend of the key figures from the tables. NadirAlpha methodology
Daily candles with news and earnings markers. Loads only on click.
Adtran Event Timeline
What happened at Adtran since 2023: events from the filings, grouped by quarter, with the source date and a clickable source number. NadirAlpha methodology
2026 · 6 events
“Our preliminary second quarter results were directly impacted by a project delay from a single customer. In addition, margins reflected the current elevated component and freight cost environment. While these factors are affecting our near-term financial results, they do not change the underlying business, customer engagement or strategic priorities we are executing against.”
Revenue grew 6.1% year-over-year to USD 281.1 million, decelerating from 15.5% in Q1 2026; U.S. revenue up 11.7% and international up 1.4% 37
GAAP operating margin declined to -3.6%, impacted by elevated component and freight costs; non-GAAP operating margin reached 3.8% 36 38
Preliminary Q2 revenue $280.0-$282.0 million below prior guidance of $283.0-$303.0 million due to single customer project delay; non-GAAP operating margin expected 3.5-4.0% vs. prior guidance of 5.0-9.0%; Q3 2026 revenue guidance set at $275.0-$295.0 million with non-GAAP operating margin 1.5-5.5% 36
“We delivered solid first quarter results, with revenue increasing 15.5% year-over-year, and GAAP and non-GAAP operating margin rising 380 and 300 basis points from a year ago, respectively. These results reflect the continued strength of our core markets and the operating leverage we have been building.”
GAAP operating income of USD 6.4 million (2.2% of revenue) vs. operating loss of -1.6% in Q1 2025; GAAP operating margin improved 380 basis points year-over-year 34 35
Revenue increased 15.5% year-over-year to USD 286.1 million, driven by broadband expansion, vendor consolidation, and growth in Optical Networking Solutions and Subscriber Solutions 34
LiteWave800 introduced as first product purpose-built for intra-data center AI infrastructure 35
2025 · 13 events
“We delivered a strong fourth quarter, with revenue above our outlook and growth across all three revenue categories. Performance reflected solid execution and sustained fiber investment across our core markets.”
“Our preliminary fourth quarter results reflect higher demand and strong execution, outperforming our expectations amid typical year-end seasonality. We look forward to providing additional detail on our fourth quarter results when we report audited results in late February.”
Non-GAAP diluted EPS of $0.16 in Q4 2025 versus non-GAAP loss of $0.02 per share in Q4 2024 33
Q1 2026 guidance of $275.0-$295.0 million revenue and non-GAAP operating margin of 4.0%-8.0% issued 33
Operating income turned positive for the first time after 13 negative periods (-2.8 to +USD 4.5 million). 135
Preliminary Q4 2025 revenue of $290.0-$293.0 million exceeded prior guidance range of $275.0-$285.0 million 31
“We look forward to a strong finish to the year. With healthy demand and a portfolio aligned to key technology transitions, we remain focused on driving sustainable growth and maximizing long-term stockholder value.”
Q4 2025 revenue guidance of $275.0-$285.0 million and non-GAAP operating margin of 3.5%-7.5% issued 30
“Business conditions have continued to strengthen during the second quarter of 2025, and were supported by improved market conditions and growing customer demand for our products and services. We are pleased with our business performance and look forward to finalizing and reporting our full second quarter results in early August.”
“Looking forward, our bookings and pipeline reinforce our confidence in continued gains in profitability and cash flow. With a clear strategy, global reach, and investment in next-generation network architectures, Adtran remains well-positioned.”
Revenue grew 17.3% year-over-year to $265.1 million in Q2 2025, with growth across all product categories and geographies 27
GAAP gross margin improved to 37.3% from 36.0% in Q2 2024, driven by Business Efficiency Program benefits and favorable customer and product mix 27
Q3 2025 revenue guidance of $270.0-$280.0 million and non-GAAP operating margin of 3.0%-7.0% issued 28
“We are well-positioned to navigate and capitalize on shifts in trade policy due to our globally diverse supply chain, operational flexibility, and strong customer relationships. Based on the current visibility and booking trends, we expect this positive momentum to continue into the second quarter.”
Business Efficiency Program completed as of December 31, 2024, eliminating restructuring charges and reducing employee-related and lease costs with no additional costs incurred in Q1 2025 24
Revenue grew 10% year-over-year to $247.7 million, above the guidance mid-point, reflecting normalized customer spending and fiber expansion 23
2024 · 14 events
“We finished 2024 with positive momentum in our business. Based on the current visibility and booking trends, we expect higher revenue in the first quarter of 2025, overcoming typical seasonality.”
EBITDA turned positive for the first time after 9 negative periods (-1.3 to +USD 5.9 million). 133
Revenue of $242.9 million increased 7% sequentially and exceeded the mid-point of guidance, extending the sequential recovery trend from Q3 21
Q1 2025 revenue guidance of $237.5 million to $252.5 million issued, described as overcoming typical seasonality 21
Business Efficiency Program substantially completed; Greifswald, Germany facility closed in December 2024 21
“ADTRAN remains well-positioned for sustainable and profitable growth as customer inventory levels normalize. The continued trend to increase fiber access and optical transport, combined with the ongoing transition from higher risk vendors to providers like ADTRAN, serve as durable secular catalysts. As we grow, we are confident we can unlock meaningful operational leverage, driving accelerated profitability and increased cash generation.”
Revenue declined 16.4% year-over-year to $227.7 million due to customer inventory reduction and macroeconomic uncertainty, though the year-over-year decline narrowed relative to prior quarters 20
Non-GAAP operating margin turned positive at 1.1%, above guidance mid-point; GAAP gross margin improved to 37.4% from 27.3% in Q3 2023, benefiting from lower amortization and acquisition costs from the Business Combination 19
Operating cash flow reached USD 43.3 million vs USD 6.8 million in 2023-Q3 (×6.4). 130
“We had a solid second quarter, during which we saw improvements across all our major operating metrics, including profitability and working capital. During the quarter, we saw growth in our customer base across the U.S. and Europe as customers continue to adopt our latest fiber networking solutions”
Revenue declined 31.0% year-over-year to $226.0 million, with Network Solutions segment down 37%, driven by customer inventory reduction and macroeconomic uncertainty 18
Copper-based DSL and fixed wireless access products discontinued, IoT gateway market exit announced, and Greifswald facility closure targeted by December 31, 2024 as part of Business Efficiency Program 18
Operating cash flow turned positive on a half-year basis (2023-H2: -6.9 to 2024-H1: +USD 57.8 million, aggregated from reported quarters where needed). 128
Non-GAAP gross margin improved to 41.9% from 38.6% in Q2 2023; GAAP gross margin expanded from 28.3% to 36.1%, primarily due to decreased amortization and acquisition costs from the Business Combination 17
“First quarter revenue and profitability came in as expected, with the weakness still impacting our results. However, we were pleased with the continued momentum in our customer win rate which was bolstered by the ongoing expansion of our Mosaic One platform. As we continued to execute on our business efficiency program, we were able to reduce inventory and significantly improve our operating cashflow while maintaining our diligence in gaining market share during this pivotal time in our industry. We believe that as markets return to normal, our continued focus on these measures, will lead to sustainable margin expansions and shareholder value creation in the mid-term.”
Revenue declined 30.2% year-over-year to $226.2 million as customers reduced inventory levels amid macroeconomic uncertainty 16
GAAP gross margin improved to 31.9% from 27.1% in Q1 2023, primarily driven by lower amortization of intangible assets and reduced acquisition costs from the Business Combination, not operational improvement 16
$292.6 million non-cash goodwill impairment charged against Network Solutions reporting unit due to decreased market capitalization and reduced service provider spending 14
2023 · 14 events
“Preliminary Q4 revenue came in as expected with non-GAAP profitability at the upper end of our guidance driven by continued gross margin improvements and lower operating expenses. Although revenues continued to remain challenging due to the macroeconomic environment and elevated customer inventories. we believe the fundamental demand landscape remains unchanged. Service providers continue to pursue the same objectives of expanding their fiber footprint and enhancing bandwidth, necessitating global infrastructure buildouts. With the ongoing implementation of our cost improvement measures, we believe that we are transforming into a more streamlined and efficient company. We expect that this will position us well to excel when spending returns to normal levels.”
Full-year 2023 GAAP net loss of $267.7M ($3.41/share) versus $8.9M in 2022; Q4 GAAP net loss of $109.9M included $24.3M inventory write-down from product line discontinuations; company established a valuation allowance against domestic deferred tax assets in Q4 11 12
Revenue fell 37% YoY to $225.5M, the lowest quarter of 2023, as macroeconomic headwinds and elevated customer inventory levels continued to suppress Network Solutions demand 11
GAAP gross margin expanded to 34.8% (up 483 bps YoY, 754 bps sequentially) driven by lower purchasing and transportation costs and reduced acquisition-related expenses; non-GAAP gross margin improved to 41.9% 11
“We anticipate that the ongoing uncertainty affecting customer spending will extend into 2024. We are actively addressing the challenges in our industry and have implemented a business efficiency program to ensure improvement in long-term shareholder return. Through this program, we are aiming to lower our costs by $90 million by the end of 2024 as compared to 2023. Although the environment has proven to be very challenging, interest in our products continues to grow as we gained market share and added new customers during the quarter. We expect the combination of our continued growth in market share with our new operating model to substantially improve returns to all our stakeholders.”
“While revenue and GAAP operating margin continue to be challenging as customers remain focused on reducing inventory levels and managing capital expenses, our Q3 non-GAAP operating margin was at the upper end of our guidance, helped by the planned reduction in our operating expenses and improved non-GAAP gross margins. Additionally, the strengthened U.S. dollar had a negative impact on revenue generated outside of the U.S. Moving forward through the end of this year, we will continue to focus on aligning our operating model to reflect the current environment. Finally, during the third quarter, ADTRAN continued to add new customers in both Europe and the U.S., further strengthening our market share position and, with our broad portfolio and geographic reach, uniquely positioning us to benefit from what we anticipate to be a return to normalized spending.”
GAAP operating loss of $89.3M included $37.9M non-cash goodwill impairment on the Services & Support reporting unit and $21.0M inventory write-down from Network Solutions product line exits 9 10
“Our Q2 2023 results were in line with our expectations. Although new customer acquisitions remain near an all-time high, we anticipate the second half of 2023 will continue to present challenges due to customers optimizing inventory and the macroeconomic environment. Nevertheless, we continue to believe that we are in the early stage of an unprecedented investment cycle and Adtran Holdings is well positioned to be one of the largest beneficiaries.”
Net loss of $33.3M in Q2 and $67.8M in H1 2023 versus net income of $2.1M and $1.0M in the respective prior-year periods; H1 2023 included $8.3M in restructuring costs 7
Revenue of $327.4M, up 90.3% YoY (decelerating from Q1's 109.6%), with growth driven by Business Combination activity; Subscriber Solutions continued to contract as customers managed elevated inventory levels 7
GAAP gross margin declined to 28.3% from 36.3% in Q2 2022, reflecting $33.4M in acquisition-related adjustments including intangible amortization and fair value inventory adjustments 7
“As mentioned in our pre-release, the results of the quarter were impacted by slowing sales predominately in our Subscriber Solutions category. Although we expect customer inventory management efforts to continue to affect our near-term results, the underlying demand to upgrade and deploy fiber networks is at an unprecedented high and we are ideally positioned to capitalize on this opportunity.”
“Growing customer concerns over inventory stocking levels affected our first quarter Subscriber Solutions category. We believe that this over-supply condition in CPE products will continue into the second quarter. Revenue for our Access and Optical Networking products grew sequentially. Supply constraints, however, limited our flexibility to clear past-due backlog across all product categories. We believe that the inventory impact is transitory, and we expect to see some improvement during the second quarter. We plan to adjust expenses in the near term to reflect current conditions, however we do not see any material changes to our near-term opportunities and our long-term growth catalysts as carriers around the world race to upgrade their networks to fiber.”
GAAP gross margin fell to 27.1% from 35.2% in Q1 2022, driven by $32.6M in acquisition-related adjustments including intangible amortization and fair value inventory adjustments from the Business Combination 5
DPLTA effective January 16, 2023: ADTRAN Holdings began absorbing all Adtran Networks losses and obtained binding instruction rights over its management board; Wells Fargo Credit Agreement expanded from $100M to $400M with $180M drawn at quarter-end 5
Adtran Business Model
What Adtran does and how the company earns its money, written AI-editorially from the original reports alone, without any assessment of our own. NadirAlpha methodology
ADTRAN Holdings is a provider of networking and communications equipment and software, primarily serving telecommunications service providers, enterprises, hyperscalers, and government customers globally. Its principal product lines include broadband access solutions and Optical Networking Solutions, with revenue generated primarily through hardware sales complemented by software and services. Demand is driven by carrier broadband expansion programs, high-risk vendor displacement initiatives, and cloud infrastructure build-outs, making the company's results sensitive to major service provider capital expenditure cycles and the timing of large customer project deployments.
Adtran Stock: Share-Price Drivers
The drivers of Adtran stock from the company's perspective: demand, prices, costs and capacity as the investor relations reports describe them. NadirAlpha methodology
ADTRAN revenue reached USD 281.1 million in 2026-Q2, up from USD 265.1 million in the year-earlier quarter, with the change flag pointing to accelerating growth, 138
ADTRAN cites fiber-to-the-home deployment expansion and the Broadband Equity, Access and Deployment Program as demand sources, with a planned free trade zone at its Huntsville, Alabama facility; the company's Domestic revenue of 480.8 grew 20.7% in FY2025, 32, 34
ADTRAN launched LiteWave800 in Q1 2026 alongside its FSP 3000 OLS solution and an auto-tunable 50G C-band pluggable transceiver, extending the optical line; International revenue of 603.1 grew 15.0% in FY2025, 35, 32
ADTRAN is expanding its Wi-Fi 7 portfolio with the SDG 9000 Series for residential, small business and MDU connectivity and flags Multi-Gig Wi-Fi 7 investment, 32, 34
ADTRAN posted an adjusted operating income of USD 10.6 million in 2026-Q2 against a reported operating loss of USD 10.1 million and a net loss of USD 10.9 million, with restructuring under the Business Efficiency Program; adjusted operating income has been higher across recent quarters while reported earnings remain negative, 138, 15
ADTRAN carried net debt of USD 114.6 million and cash of USD 79.2 million in 2026-Q2 and issued 3.75% Convertible Senior Notes due 2030 with capped call transactions in September 2025, 138, 29
ADTRAN continues to expand its Mosaic One SaaS network platform, hosted via a third-party cloud provider, broadening its software offering, 18
Sector trend: Demand for fiber broadband and optical access equipment is recovering, with public funding programs such as BEAD and carrier fiber deployments supporting order volumes, 34. Margins are improving off a low base as adjusted operating income turns positive while reported operating results remain pressured, 138.
Adtran Revenue by Type (as of 2026-Q2 · USD million · 4/7)
Revenue of Adtran split by segment or product type exactly as the company itself reports it; segment totals can deviate from group revenue. NadirAlpha methodology
| Segment | Since | Revenue | Growth | Source |
|---|---|---|---|---|
| Period 2026-Q1 (3M) | ||||
| Network Solutions | 2023-Q1 | 237.9 | – | 35 |
| Services & Support | 2023-Q1 | 48.1 | – | 35 |
| Period FY2025 (12M) | ||||
| International | FY2025 | 603.1 | 15% | 32 |
| Domestic | FY2025 | 480.8 | 20.7% | 32 |
| Period 2023-Q1 (3M) | ||||
| Optical Networking Solutions | 2023-Q1 | 147.8 | – | 5 |
| Subscriber Solutions | 2023-Q1 | 22.6 | – | 5 |
| Access & Aggregation Solutions | 2023-Q1 | 1 | – | 5 |
Adtran Products & announcements (10/24 active+recent)
What Adtran launched, had approved or announced, from the filings up to Q2 2026, each row with the date of first mention. NadirAlpha methodology
Status: PlannedLaunched
| Product/Line | Since | Status | Source |
|---|---|---|---|
| 2026 | |||
| Multi-Gig Wi-Fi 7 investment | 2026-03 | 34 | |
| LiteWave800™ | 2026-03 | 35 | |
| Free trade zone at Huntsville, Alabama facility | 2026-03 | 32 | |
| Fiber-to-the-home deployment expansion | 2026-03 | 34 | |
| Carrier Ethernet applications expansion | 2026-03 | 34 | |
| 2025 | |||
| Capped Call Transactions | 2025-09 | 29 | |
| Wi-Fi 7 portfolio expansion with SDG 9000 Series for residential, small business and MDU connectivity | 2025 | 32 | |
| FSP 3000 OLS solution launch | 2025 | 32 | |
| Auto-tunable 50G C-band pluggable transceiver | 2025 | 32 | |
| 2024 | |||
| Broadband Equity, Access and Deployment Program (2×) | 2024-12 | 32 | |
| Receivables Purchase Agreement | 2024-07 | 29 | |
| Mosaic One SaaS network platform hosting via third-party cloud provider | 2024-06 | 18 | |
| Mosaic One platform expansion | 2024-03 | 15 | |
| SDX OLT series additions | 2024 | 22 | |
| Residential gateway and ONT families | 2024 | 22 | |
| Packet demarcation and encryption/security products | 2024 | 22 | |
| Outdoor packet demarcation devices | 2024 | 22 | |
| Mosaic One software enhancements | 2024 | 22 | |
| Edge and core transport solutions | 2024 | 22 | |
| 2023 | |||
| Suspension of quarterly dividend | 2023-09 | 9 | |
| Strategy shift resulting in discontinuation of certain product lines in Network Solutions segment | 2023-09 | 22 | |
| Site Consolidation Plan | 2023-09 | 9 | |
| IPCEI ME/CT public funding project (2×) | 2023-09 | 20 | |
| First Amendment to Wells Fargo Credit Agreement | 2023-08 | 7 | |
Adtran Transactions & Events (17)
Transactions of Adtran since 2023: acquisitions, disposals, agreements and regulation, deliberately including smaller items; purchase prices only when the company names them. NadirAlpha methodology
Acquisitions by Adtran
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2025 | |||
| Headquarters building sale (3×) | 2025 | Completed | 22 |
| 2023 | |||
| Business Efficiency Program (3×) | 2023-11 | Completed | 15 |
| DPLTA with Adtran Networks (3×) | 2023-01 | Completed | 10 |
| 2022 | |||
| Business Combination with ADVA (2×) | 2022-07 | Completed | 22 |
Divestitures and exits by Adtran
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2024 | |||
| Greifswald facility closure (2×) | 2024-04 | Divested | 20 |
| Adtran Networks shares tendered and Exit Compensation payments | 2024 | Divested | 22 |
| 2023 | |||
| IoT Gateway Market Exit (3×) | 2023-09 | Divested | 22 |
| Exit from certain product lines | 2023-09 | Divested | 9 |
| Fixed wireless access products discontinuation | 2023-08 | Divested | 18 |
| Fixed wireless access product discontinuance | 2023-08 | Divested | 18 |
| Discontinuation of fixed wireless access products in Network Solutions segment | 2023-08 | Divested | 12 |
| Copper-based Digital Subscriber Line product discontinuance | 2023-08 | Divested | 18 |
| Copper-based Digital Subscriber Line broadband access technology discontinuation | 2023-08 | Divested | 18 |
| Copper-based DSL broadband access technology products discontinuation | 2023-08 | Divested | 12 |
| Copper-based DSL and fixed wireless access product discontinuation | 2023-08 | Divested | 22 |
| Copper-Based Digital Subscriber Line and Fixed Wireless Access Products Discontinuation | 2023-08 | Divested | 12 |
Partnerships and contracts of Adtran
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2023 | |||
| Domination and Profit and Loss Transfer Agreement with Adtran Networks | 2023-01 | Agreement | 32 |
Adtran Risks (103 since the annual report of 2026-02-26, 294 tracked in total)
NadirAlpha lists 103 active risks of Adtran from the filings, the category as a coloured dot with legend, the wording as a short summary of the filing with no assessment of our own. NadirAlpha methodology
Category: FinancialSupply chainMacroGeopoliticsLegalRegulatoryCustomersCompetitionCyberPeopleESGTechnologyMarket
| Risk | Category | Last reported |
|---|---|---|
| Adtran: first mention in 10-Q quarterly report of 2026-08-04 (2026-Q2), source 37 | ||
| $201.3 million convertible notes and $48.0 million credit facility borrowings | = | |
| IEEPA tariff refund recovery uncertain; potential customer passthrough obligations | = | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2026-07-22 (2026-Q2), source 36 | ||
| Risks relating to ability to remain in compliance with credit agreement covenants and satisfy payment obligations under convertible notes. | = | |
| Elevated component and freight cost environment impacting margins. | = | |
| Risks posed by changes in general economic conditions and monetary, fiscal and trade policies, including tariffs. | = | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2026-05-05 (2026-Q1), source 35 | ||
| Potential exposure to ongoing military conflicts in Iran, Ukraine, Israel and surrounding areas | 2026-Q2 2026-08-04 38 | |
| Adtran: first mention in 10-Q quarterly report of 2025-11-04 (2025-Q3), source 29 | ||
| New JPMorgan credit agreement contains restrictive covenants limiting operations | 2026-Q2 2026-08-04 37 | |
| Adtran Networks DPLTA appraisal proceedings may require higher exit compensation payments | 2026-Q2 2026-08-04 37 | |
| Adtran: first mention in 10-Q quarterly report of 2025-08-05 (2025-Q2), source 27 | ||
| U.S. tariff uncertainties and retaliatory actions affect supply chain costs and margins | 2026-Q2 2026-08-04 37 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2025-05-08 (2025-Q1), source 23 | ||
| Risks relating to level of indebtedness and ability to generate cash | 2026-Q2 2026-08-04 38 | |
| Adtran: first mention in 10-K annual report of 2024-03-15 (FY2023), source 12 | ||
| Risk of non-compliance with credit agreement and convertible note covenants | 2026-Q2 2026-08-04 38 | |
| Lengthy sales and approval processes with major service providers affect revenue stability | 2026-Q2 2026-08-04 38 | |
| Foreign currency fluctuations impact revenue, margins and operating expenses | 2026-Q2 2026-08-04 37 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2023-11-07 (2023-Q3), source 9 | ||
| Ongoing material weaknesses in internal control over financial reporting | 2026-Q2 2026-08-04 38 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2023-10-17 (2023-Q3), source 8 | ||
| Risks related to inventory practices and ability to match customer demand | 2026-Q2 2026-08-04 38 | |
| Adtran: first mention in 10-Q quarterly report of 2023-08-14 (2023-Q2), source 7 | ||
| Obligation to satisfy payments under Domination and Profit and Loss Transfer Agreement with Adtran Networks minority shareholders | 2026-Q2 2026-08-04 38 | |
| Changes in general economic conditions and monetary, fiscal and trade policies including tariffs | 2026-Q2 2026-08-04 38 | |
| Adtran: first mention in 10-Q quarterly report of 2023-05-10 (2023-Q1), source 5 | ||
| Risk of revenue fluctuations due to lengthy sales approval processes and shifting customer spending patterns; single customer project delay impacted Q2 results. | 2026-Q2 2026-07-22 36 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2023-05-09 (2023-Q1), source 4 | ||
| Risk that company may not be able to effectively compete through product improvements and development | 2026-Q2 2026-08-04 38 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2023-04-11 (2023-Q1), source 3 | ||
| Risks posed by potential breaches of information systems and cyber-attacks | 2026-Q2 2026-08-04 38 | |
| Adtran: first mention in 10-Q quarterly report of 2026-05-05 (2026-Q1), source 34 | ||
| Potential Exit Compensation obligations under DPLTA could reach €304.4 million depending on shareholder elections and appraisal outcome. | = | |
| Revolving credit borrowings of $25.0 million exposed to interest rate increases, currently at 8.92% weighted average rate. | = | |
| Adtran: first mention in 10-K annual report of 2026-02-26 (FY2025), source 32 | ||
| Exposure to credit risks of customers and distributors with international sales at 55.6% of revenue | = | |
| May be unable to raise funds to repurchase 2030 Notes following fundamental change or pay cash amounts upon maturity or conversion; other indebtedness may restrict ability to repurchase notes; default under indenture could trigger defaults under other debt agreements. | = | |
| Risk of inventory obsolescence if market demand decreases or inventory levels not properly managed. | = | |
| Significant fluctuations in revenue due to unpredictable customer spending and long sales cycles | = | |
| Heavy dependence on international subcontractors for assembly, testing, and raw materials; risks include supply interruptions, quality control, cost pressures, exclusive competitor arrangements, component discontinuation; ongoing inflationary pressures on input costs; geopolitical factors affecting Taiwan supply chain. | = | |
| Limited suppliers for certain raw materials and key components; tariff impacts on critical minerals | = | |
| Loss of Thomas R. Stanton (CEO) and key management personnel; increased attrition from compensation changes; difficulty attracting software developers and engineers in competitive market. | = | |
| Changes in U.S. trade policy including new tariffs on semiconductors and metal products create uncertainty in input costs. | 2026-Q1 2026-05-05 34 | |
| Subject to complex data privacy laws including GDPR and potential cybersecurity regulations | = | |
| Exposure to evolving stakeholder expectations and regulatory requirements regarding climate change, greenhouse gas emissions, human and civil rights, diversity and inclusion; failure to achieve public sustainability targets or meet stakeholder expectations could result in legal proceedings and reputation harm; conflicting anti-sustainability initiatives in U.S. may conflict with other regulatory requirements. | = | |
| Accounting for 2030 Notes reflects liability on balance sheet with interest expense greater than cash interest payments due to amortization of discount; shares underlying notes reflected in diluted EPS using if-converted method; potential reclassification to current liability if conversion conditions satisfied. | = | |
| Exposure to adverse movements in foreign currency exchange rates, particularly euro and British pound sterling; weakened dollar increases operating costs and procurement expenses. | = | |
| Capped Calls entered into with option counterparties may not operate as planned; option counterparty default could result in increased stock dilution; hedging activities could increase or decrease stock price. | = | |
| May issue additional equity securities for capital raising, growth, acquisitions, or employee compensation; additional shares could result in significant dilution of existing stockholders' ownership interests and per share value decline. | = | |
| Ongoing inflationary pressures decreased demand for products and services, increased manufacturing and operating costs; fixed pricing customer contracts prevent proportional price increases; reduced profit and operating margins. | = | |
| Subject to 1% excise tax on stock buybacks and 15% corporate minimum tax on adjusted financial statement income under Inflation Reduction Act; impact on effective tax rate depends on Treasury Department guidance. | = | |
| OBBBA enacted July 2025 makes permanent Tax Cuts and Jobs Act provisions; includes 100% bonus depreciation for property acquired after January 19, 2025 and Section 174A research expensing; modifications to NCTI/FDDEI effective after December 31, 2025; impact on effective tax rate uncertain. | = | |
| Subject to OECD Pillar Two minimum tax requirements effective January 1, 2026; elective SbS Safe Harbor deems top-up tax zero for IIR and UTPR purposes for qualifying U.S.-headquartered groups; QDMTTs in implementing jurisdictions and GIR reporting requirements continue to apply; ongoing monitoring required for jurisdictional implementations. | = | |
| Mosaic One SaaS platform depends on third-party cloud platform providers outside company control; service interruptions, outages, or delays could adversely impact customer service quality, reputation, and operating results. | = | |
| Operating results fluctuate due to demand variations, sales cycle changes, technology adoption, competitive pressures, inventory management, channel partner timing, and macroeconomic factors; shortfalls relative to guidance or analyst expectations have historically adversely affected stock price. | = | |
| Provisions in 2030 Notes and Indenture could make acquisition more difficult or expensive; fundamental change would trigger noteholder repurchase rights; make-whole fundamental change could require conversion rate increase. | = | |
| Subject to examination of income tax returns by IRS and various tax authorities; effective tax rate may be adversely impacted by earnings mix between jurisdictions, valuation of deferred tax assets, and changes in tax rules; valuation allowance recognition could materially impact financial statements. | = | |
| Dependence on limited suppliers for semiconductors and electronic components | = | |
| Exposure to ongoing military conflicts in Ukraine and Middle East affecting international operations | = | |
| BEAD program funding expected to commence in 2026, providing positive growth outlook. | = | |
| Patents, trademarks, copyrights, and trade secrets may not provide adequate protection; competitors can develop similar technology independently; infringement claims could result in significant legal fees, management time diversion, delays in shipments, or licensing obligations. | = | |
| Communications industry characterized by significant patent litigation and licensing activities | = | |
| EU Artificial Intelligence Act implementation by 2026 could require stringent compliance with fines up to 7% of global revenue | = | |
| Subject to various communications authority regulations and import/export control regulations; changes in communications regulations, tariffs, trade policies, or regulatory approvals could affect customer demand or ability to sell products. | = | |
| Subject to complex evolving U.S. and foreign laws and regulations governing business conduct, product manufacture and sale; violations could result in civil and criminal penalties, regulatory disapproval, and reputation harm; compliance costs may be substantial. | = | |
| Subject to environmental, health and safety regulations governing manufacture, assembly and testing including hazardous materials use; failure to comply could result in increased costs or liabilities; existing and future regulations may restrict use of certain materials. | = | |
| Subject to FCPA prohibiting corrupt payments to foreign officials; U.S. government temporarily paused FCPA enforcement (February 10, 2025) and issued new enforcement guidelines June 9, 2025 focusing on narrower range of misconduct; company may be liable for corrupt actions by employees and representatives. | = | |
| Subject to insider trading prohibitions and directors' dealing rules under German Securities Trading Act and EU Regulation 596/2014; real-time disclosure requirements may require early earnings releases. | = | |
| Use of open source software in solutions; open source license terms have not been fully interpreted by courts; risk that licenses could impose unanticipated conditions restricting commercialization; potential requirement to make proprietary software available or discontinue products. | = | |
| Tariffs on customer products may reduce customer spending, trigger contract renegotiations, deferrals of orders, or shifts to other vendors; tariffed products may become less competitive relative to non-tariffed competitor products. | = | |
| Development and use of AI technology in early phases; exposure to rapidly evolving laws and regulations including EU Artificial Intelligence Act; AI model flaws and hallucinations could lead to biased decisions affecting individuals; reliance on third-party AI models presents risks over data inclusion and model effectiveness. | = | |
| Rapidly changing technology and evolving industry standards could render existing products obsolete; strategy shifts resulted in discontinuation of certain product lines in Network Solutions segment during 2023 and 2024; failure to anticipate changes could harm competitive position. | = | |
| Complex products may have material quality issues impacting warranty costs and customer relations | = | |
| Research and development focused on incremental innovation of accepted technologies rather than leading-edge development; larger competitors with greater R&D efforts may focus on more advanced technologies; potential for lost revenue opportunities. | = | |
| Licenses for third-party software may not continue on commercially reasonable terms; termination of licenses could increase costs or require substitute technology purchases; difficulties obtaining and maintaining third-party technology licenses may disrupt product development. | = | |
| Products must interface with diverse network specifications using multiple protocol standards; errors in existing software or hardware may require modifications increasing costs; implementation delays could harm product acceptance and customer relationships. | = | |
| Dependent on Systems Integrators, Service Providers, and VARs for revenue; inadequate sales, marketing, or service support could result in partner termination; failure of channel partners to successfully sell products could materially adversely affect revenue. | = | |
| Market consolidation among vendors may affect competitive positioning and customer relationships. | = | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2026-01-22 (2025-Q4), source 31 | ||
| Compliance with credit agreement covenants and payment obligations. | = | |
| High indebtedness and ability to generate cash. | = | |
| Lengthy approval processes and shifting customer spending patterns. | = | |
| Inventory practices and ability to match customer demand. | = | |
| DPLTA payment obligations to Adtran Networks minority shareholders. | = | |
| Changes in economic conditions, monetary/fiscal/trade policies and tariffs. | = | |
| Ability to effectively compete through product improvements. | = | |
| Adtran: first mention in 10-Q quarterly report of 2025-11-04 (2025-Q3), source 29 | ||
| Exposure to credit risk of financial institution option counterparties under Capped Calls; unsecured exposure dependent on stock price movements and volatility; default of option counterparty could result in increased dilution. | FY2025 2026-02-26 32 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2025-08-05 (2025-Q2), source 28 | ||
| Risk of fluctuations in revenue due to lengthy sales processes | = | |
| Adtran: first mention in 10-Q quarterly report of 2025-08-05 (2025-Q2), source 27 | ||
| Minority shareholders challenging adequacy of Exit Compensation and Annual Recurring Compensation under DPLTA; expected to take minimum 12 months to ruling with additional 12-24 months for appeals | = | |
| Further downgrades to U.S. government sovereign credit rating (Moody's downgraded to Aa1 from Aaa on May 16, 2025) could adversely affect financial markets and economic conditions; government shutdowns could negatively impact liquidity, financial condition and earnings; higher interest rates and borrowing costs could result. | FY2025 2026-02-26 32 | |
| SEC requirements for disclosure regarding conflict minerals mined from DRC and adjoining countries; SEC rules may reduce supplier pool for conflict-free components; inability to verify mineral origins or source conflict-free products could result in reputational challenges. | FY2025 2026-02-26 32 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2025-07-16 (2025-Q2), source 26 | ||
| Changes in general economic conditions and monetary, fiscal and trade policies including tariffs | 2026-Q1 2026-05-05 35 | |
| Adtran: first mention in 10-Q quarterly report of 2025-05-20 (2025-Q1), source 24 | ||
| U.S. trade policy actions increased tariffs with potential material impact on input costs and profitability. | FY2025 2026-02-26 32 | |
| Adtran Networks minority shareholders initiated court-led appraisal proceedings challenging DPLTA compensation adequacy, with final decision not expected before 2027-2028. | = | |
| Complex tariff determination based on Harmonized Tariff System classification and country of origin; U.S. Department of Justice designated trade and customs fraud as enforcement priority (May 2025); risk of enforcement actions and penalties if classifications or origin determinations challenged. | FY2025 2026-02-26 32 | |
| FCPA compliance obligations apply to Company and intermediaries; U.S. government paused enforcement but issued new guidelines in June 2025. | 2025-Q3 2025-11-04 29 | |
| Adtran: first mention in 10-K annual report of 2025-03-03 (FY2024), source 22 | ||
| Intense competition may result in reduced gross profit margins and market share losses | FY2025 2026-02-26 32 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2025-02-27 (2024-Q4), source 21 | ||
| Risk posed by elevated debt levels and ability to generate sufficient cash | 2025-Q4 2026-02-26 33 | |
| Subject to various legal proceedings including employment disputes, patent claims, contract disputes, and commercial disputes; costs of sustained litigation may not be covered by insurance; exposure to litigation from Adtran Networks minority shareholders challenging DPLTA adequacy of compensation. | FY2025 2026-02-26 32 | |
| Adtran: first mention in 10-Q quarterly report of 2024-08-09 (2024-Q2), source 18 | ||
| Ongoing material weaknesses in internal control over financial reporting identified | 2025-Q1 2025-05-08 23 | |
| Risk that the Company may not effectively compete through product improvements and development | 2025-Q4 2026-02-26 33 | |
| Adtran: first mention in 10-K annual report of 2024-03-15 (FY2023), source 12 | ||
| German law appraisal proceedings ongoing regarding DPLTA compensation adequacy, expected to continue through 2028 or beyond. | 2026-Q1 2026-05-05 34 | |
| U.S. tariffs on imports and potential reciprocal tariffs could negatively affect financial results | FY2025 2026-02-26 32 | |
| Subject to GDPR and various international data protection and privacy laws; collection, use, retention, protection, disclosure and transfer of personal data increasingly regulated; non-compliance could result in enforcement actions and sanctions. | FY2025 2026-02-26 32 | |
| Manufacturing uses hazardous materials regulated by EPA, WEEE Directive, RoHS Directive, and REACH regulations; failure to comply could result in regulatory penalties, legal claims, or production disruption; contract manufacturers' non-compliance creates additional liability. | FY2025 2026-02-26 32 | |
| Adtran: first mention in 10-Q quarterly report of 2023-11-09 (2023-Q3), source 10 | ||
| Satisfy payment obligations to Adtran Networks minority shareholders under Domination and Profit and Loss Transfer Agreement | 2026-Q1 2026-05-05 35 | |
| Company obligated to comply with restrictive covenants under Wells Fargo Credit Agreement limiting operating activities | FY2025 2026-02-26 32 | |
| $297.4 million goodwill impairment in 2024; assessments conducted for recoverability of remaining goodwill. | FY2025 2026-02-26 32 | |
| Credit Facility matures July 2027; company intends to refinance but no assurance terms will be acceptable or refinancing will occur. | 2026-Q1 2026-05-05 34 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2023-11-07 (2023-Q3), source 9 | ||
| Complex acquisition, divestiture and integration challenges including combining service offerings, customer retention, IT infrastructure consolidation, employee morale and retention, achieving cost savings, and divesting combined operations. | FY2025 2026-02-26 32 | |
| Inventory management balancing act between maintaining sufficient levels for customer demand and obsolescence risk. | 2026-Q1 2026-05-05 34 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2023-10-17 (2023-Q3), source 8 | ||
| Material weaknesses in internal control over financial reporting. | 2025-Q4 2026-01-22 31 | |
| Risks posed by potential breaches of information systems and cyber-attacks | 2025-Q4 2026-02-26 33 | |
| Adtran: first mention in 10-Q quarterly report of 2023-08-14 (2023-Q2), source 7 | ||
| Gross margins subject to fluctuation from product mix, pricing, and cost pressures | FY2025 2026-02-26 32 | |
| Adtran: first mention in 10-Q quarterly report of 2023-05-10 (2023-Q1), source 5 | ||
| Operations exposed to foreign currency fluctuations with euro and British pound creating revenue and expense volatility. | 2026-Q1 2026-05-05 34 | |
| Changes in interest rates impact costs of borrowing under variable rate debt facilities; exposed to credit risk of counterparties in various transactions; losses from counterparty defaults could be material. | FY2025 2026-02-26 32 | |
| Adtran: first mention in 8-K-EX99.1 earnings release of 2023-04-11 (2023-Q1), source 3 | ||
| Revenue fluctuations due to lengthy sales and approval processes by major service providers | 2026-Q1 2026-05-05 35 | |
Adtran Reported KPIs (as disclosed) (314)
The story KPIs of Adtran that standard databases usually miss, grouped by publication, most recent first, with source number. NadirAlpha methodology
| KPI | Value / change | Source |
|---|---|---|
| Adtran, published 2026-08-04, period 2026-Q2 | ||
| Net cash provided by operating activities (Q2) | 25.9 million | 38 |
| DSO days | 67 | 37 |
| Cloud/Hyperscaler/Enterprise/Government revenue growth YoY | 47% | 38 |
| Cash and cash equivalents | 79.2 million | 38 |
| Adtran, published 2026-05-05, period 2026-Q1 | ||
| Services & Support gross margin prior year | 59.7% | 34 |
| Services & Support gross margin | 61.7% | 34 |
| Services & Support cost of revenue percentage prior year | 40.3% | 34 |
| Services & Support cost of revenue percentage | 38.3% | 34 |
| Revenue year over year growth | 15.5% | 34 |
| Non-GAAP operating margin | 6.9% | 35 |
| Network Solutions gross margin prior year | 33.6% | 34 |
| Network Solutions gross margin | 35.0% | 34 |
| Network Solutions cost of revenue percentage prior year | 66.4% | 34 |
| network solutions cost of revenue percentage | 65.0% | 34 |
| international revenue year over year growth | -3.2% | 34 |
| international revenue as percentage of total prior year | 58.3% | 34 |
| international revenue as percentage of total | 48.9% | 34 |
| five largest customers as percentage of revenue | 28.7% | 34 |
| effective tax rate prior year | -4.2% | 34 |
| effective tax rate | 67.3% | 34 |
| domestic revenue year over year growth | 41.6% | 34 |
| customers with revenues greater than 10 percent | 1 | 34 |
| cash provided by operating activities prior year | 43.2 million | 34 |
| cash provided by operating activities | 12.7 million | 34 |
| Net cash provided by operating activities | 12.7 million | 35 |
| GAAP operating margin | 2.2% | 35 |
| GAAP gross margin | 39.5% | 35 |
| Cash and cash equivalents | 88.3 million | 35 |
| Adtran, published 2026-02-26, period FY2025 | ||
| revolving credit borrowings | $25.0 million | 32 |
| projected benefit obligation | $68.7 million | 32 |
| operating cash flow | $129.8 million | 32 |
| letters of credit | $5.8 million | 32 |
| foreign cash held | $87.5 million | 32 |
| convertible notes issued | $201.3 million | 32 |
| Cash and Equivalents | $95.7 million | 32 |
| Capital Expenditures | $69.3 million | 32 |
| Credit Facility Available | $319.2 million | 32 |
| Adtran Networks Shares Owned | 36,871,784 | 32 |
| Adtran Networks Ownership | 70.8% | 32 |
| Adtran, published 2026-02-26, period 2025-Q4 | ||
| Net cash provided by operating activities | 129,767 | 33 |
| Cash and cash equivalents | 95,696 | 33 |
| Adtran, published 2025-11-04, period 2025-Q3 | ||
| U.S. Revenue | 120.2 million | 29 |
| Services & Support Segment Revenue | 46.9 million | 29 |
| Revenue | 279.4 million | 29 |
| Operating Margin (GAAP) | -1.0% | 30 |
| Operating Loss | -1.0% | 29 |
| Operating Cash Flow | 87.5 million | 29 |
| Network Solutions Segment Revenue | 232.5 million | 29 |
| Net Loss Attributable to ADTRAN Holdings | -10.3 million | 29 |
| International Revenue | 159.2 million | 29 |
| Gross Margin (GAAP) | 38.3% | 30 |
| Gross Profit Margin | 38.3% | 29 |
| Convertible Senior Notes Issued | 201.3 million | 29 |
| Cash, Cash Equivalents and Restricted Cash | 101.2 million | 29 |
| Cash, Cash Equivalents and Restricted Cash | 101.2 million | 30 |
| Available Credit Facility | 232.0 million | 29 |
| Adtran Networks Ownership | 68.6% | 29 |
| Adtran, published 2025-08-05, period 2025-Q2 | ||
| total liabilities | 644,593 | 28 |
| total current liabilities | 309,660 | 28 |
| total current assets | 607,228 | 28 |
| total assets | 1,216,295 | 28 |
| non-current revolving credit agreement | 190,180 | 28 |
| net cash provided by operating activities Q2 | 32,160 | 28 |
| net cash provided by operating activities H1 | 75,341 | 28 |
| cash and cash equivalents | 106,271 | 28 |
| Weighted average interest rate on revolving credit agreements | 8.55% | 27 |
| U.S. Revenue | 120.3 million | 27 |
| U.S. Revenue | 107.6 million | 27 |
| U.S. Revenue | 223.5 million | 27 |
| U.S. Revenue | 190.9 million | 27 |
| Shares of Adtran Networks tendered | 0.9 million shares | 27 |
| Shares of Adtran Networks tendered | 1 thousand shares | 27 |
| Services & Support Revenue | 45.6 million | 27 |
| Services & Support Revenue | 46.8 million | 27 |
| Services & Support Revenue | 91.1 million | 27 |
| Services & Support Revenue | 91.7 million | 27 |
| SG&A expenses | 60.3 million | 27 |
| SG&A expenses | 59.4 million | 27 |
| SG&A expenses | 110.6 million | 27 |
| SG&A expenses | 118.4 million | 27 |
| Revenue | 265.1 million | 27 |
| Revenue | 226.0 million | 27 |
| Revenue | 512.8 million | 27 |
| Revenue | 452.2 million | 27 |
| R&D expenses | 51.9 million | 27 |
| R&D expenses | 60.4 million | 27 |
| R&D expenses | 100.8 million | 27 |
| R&D expenses | 120.6 million | 27 |
| Potential aggregate Exit Compensation with interest | €326.8 million or $385.2 million | 27 |
| Other income net | -1.7 million | 27 |
| Other income net | 0.4 million | 27 |
| Other expense net | -2.6 million | 27 |
| Other expense net | -0.9 million | 27 |
| Operating Loss | (5.0)% | 27 |
| Operating Loss | (17.0)% | 27 |
| Operating Loss | (3.4)% | 27 |
| Operating Loss | (85.1)% | 27 |
| Network Solutions Revenue | 219.5 million | 27 |
| Network Solutions Revenue | 179.2 million | 27 |
| Network Solutions Revenue | 421.7 million | 27 |
| Network Solutions Revenue | 360.5 million | 27 |
| Net investment gain | 3.1 million | 27 |
| Net investment gain | 0.9 million | 27 |
| Net investment gain | 1.4 million | 27 |
| Net investment gain | 3.1 million | 27 |
| Net Loss attributable to ADTRAN Holdings | -20.5 million | 27 |
| Net Loss attributable to ADTRAN Holdings | -49.7 million | 27 |
| Net Loss attributable to ADTRAN Holdings | -31.8 million | 27 |
| Net Loss attributable to ADTRAN Holdings | -380.4 million | 27 |
| Long-term investments | 33.1 million | 27 |
| Long-term investments | 32.1 million | 27 |
| International Revenue | 144.7 million | 27 |
| International Revenue | 118.4 million | 27 |
| International Revenue | 289.3 million | 27 |
| International Revenue | 261.3 million | 27 |
| Interest expense | 4.6 million | 27 |
| Interest expense | 6.9 million | 27 |
| Interest expense | 9.3 million | 27 |
| Interest expense | 11.5 million | 27 |
| Interest and dividend income | 0.2 million | 27 |
| Interest and dividend income | 0.4 million | 27 |
| Interest and dividend income | 0.3 million | 27 |
| Interest and dividend income | 0.8 million | 27 |
| Government grants received as R&D reduction | 3.1 million | 27 |
| Government grants received as R&D reduction | 2.2 million | 27 |
| Government grants received as R&D reduction | 5.3 million | 27 |
| Government grants received as R&D reduction | 4.1 million | 27 |
| Foreign currency impact on revenue | 6.1 million increase | 27 |
| Foreign currency impact on revenue | 4.5 million increase | 27 |
| Foreign currency impact on SG&A expenses | 1.2 million increase | 27 |
| Foreign currency impact on SG&A expenses | 0.5 million increase | 27 |
| Foreign currency impact on R&D expenses | 1.1 million increase | 27 |
| Foreign currency impact on R&D expenses | 0.7 million increase | 27 |
| Exit Compensation payments | €16.9 million or $19.4 million | 27 |
| Exit Compensation payments | €23 thousand or $25 thousand | 27 |
| Cash on hand | 106.3 million | 27 |
| Cash on hand | 76.0 million | 27 |
| Cash flow from operating activities | 75.3 million | 27 |
| Cash flow from operating activities | 57.8 million | 27 |
| Capital expenditures | 32.5 million | 27 |
| Capital expenditures | 30.7 million | 27 |
| Borrowings under Wells Fargo Credit Facility | 190.2 million | 27 |
| Available borrowing capacity | 66.8 million | 27 |
| Annual recurring compensation obligation | €8.5 million or $10.0 million | 27 |
| Annual Recurring Compensation paid | $10.0 million | 27 |
| Annual Recurring Compensation paid | 10.1 million | 27 |
| Annual Recurring Compensation accrued | 2.4 million | 27 |
| Annual Recurring Compensation accrued | 2.5 million | 27 |
| Annual Recurring Compensation accrued | 4.8 million | 27 |
| Annual Recurring Compensation accrued | 5.0 million | 27 |
| Adtran Networks shares held by Company | 35,706,698 shares (68.6% ownership) | 27 |
| Adtran, published 2025-05-20, period 2025-Q1 | ||
| Weighted average interest rate revolving credit | 8.55% | 24 |
| Stock option shares issued | 113 thousand | 24 |
| Stock option shares issued | 36 thousand | 24 |
| Stock option proceeds | 0.8 | 24 |
| Stock option proceeds | 0.2 | 24 |
| Services & Support Subscriber Solutions decrease | -0.7 | 24 |
| Services & Support Optical Networking increase | 1.6 | 24 |
| Services & Support Access & Aggregation decrease | -0.2 | 24 |
| Revenue category Subscriber Solutions increase | 10.6 | 24 |
| Revenue category Optical Networking Solutions increase | 3.1 | 24 |
| Revenue category Access & Aggregation increase | 7.8 | 24 |
| Prior performance bonds commitments | 15.7 | 24 |
| Prior deferred compensation program assets | 31.0 | 24 |
| Prior allowance for credit losses | 1.3 | 24 |
| Performance bonds commitments | 15.2 | 24 |
| Operating expenses percentage of revenue | 46.9% | 24 |
| Non-functional currency supplier invoices hypothetical 10% USD movement | ±9.6 | 24 |
| Non-functional currency billings hypothetical 10% USD movement | ±7.1 | 24 |
| Network Solutions Subscriber Solutions increase | 11.4 | 24 |
| Network Solutions Optical Networking increase | 1.5 | 24 |
| Network Solutions Access & Aggregation increase | 8.1 | 24 |
| Interest rate risk 50bp increase impact | 1.0 | 24 |
| Interest rate risk 50bp decline impact | less than 0.1 | 24 |
| Forward contracts outstanding fair value | 0.6 | 24 |
| Foreign exchange impact on revenue | -1.5 | 24 |
| Foreign exchange impact on SG&A | -0.7 | 24 |
| Foreign exchange impact on R&D | -0.4 | 24 |
| Foreign currency exposure hypothetical 10% movement impact | ±3.3 | 24 |
| Foreign cash held by subsidiaries prior | 52.6 | 24 |
| Foreign cash held by subsidiaries | 83.0 | 24 |
| Exit Compensation payments after March 31 | €7.0 million or approximately $7.5 million | 24 |
| Exit Compensation payments | €12 thousand or approximately $13 thousand | 24 |
| Exit Compensation payments | €4 thousand or approximately $5 thousand | 24 |
| Deferred compensation program assets | 29.0 | 24 |
| Available credit facility borrowings | 25.8 | 24 |
| Annual Recurring Compensation accrued | 2.4 | 24 |
| Annual Recurring Compensation accrued | 2.5 | 24 |
| Allowance for credit losses | 1.2 | 24 |
| Adtran Networks shares owned by Company | 34,856,611 | 24 |
| Adtran Networks ownership percentage | 67.0% | 24 |
| Adtran, published 2025-05-08, period 2025-Q1 | ||
| Net cash provided by operating activities | $41.6 million | 23 |
| Gross Margin (GAAP) | 38.5% | 23 |
| Cash and cash equivalents | $101.3 million | 23 |
| Adtran, published 2025-03-03, period FY2024 | ||
| Total revenue change YoY | -19.7% | 22 |
| Prior marketable equity securities | 0.9 | 22 |
| Prior deferred compensation plan | 26.8 | 22 |
| Prior allowance for credit losses | 0.4 | 22 |
| Other charges | $4.5 million | 22 |
| Next five largest customers revenue percentage | 21.7% | 22 |
| marketable equity securities | 1.1 | 22 |
| largest customer revenue percentage | greater than 10.0% | 22 |
| international revenue change yoy | -23.8% | 22 |
| exit compensation paid | approximately €15.7 million, or approximately $17.4 million | 22 |
| exit compensation paid | approximately €1.2 million or approximately $1.3 million | 22 |
| domestic revenue change yoy | -13.6% | 22 |
| deferred compensation plan | 31.0 | 22 |
| business efficiency program future cash payments | approximately $10.3 million | 22 |
| business efficiency program costs | $44.7 million | 22 |
| business efficiency program costs | $25.1 million | 22 |
| business combination integration costs | $1.9 million | 22 |
| business combination integration costs | $4.9 million | 22 |
| allowance for credit losses | 1.3 | 22 |
| ADTRAN Networks shares tendered | approximately 831 thousand shares | 22 |
| ADTRAN Networks shares tendered | 67 thousand shares | 22 |
| ADTRAN Networks shares held | 34,856,232 no-par value bearer shares | 22 |
| ADTRAN Networks ownership percentage | 67.0% | 22 |
| Adtran, published 2024-11-12, period 2024-Q3 | ||
| international revenue growth | -22.1% | 20 |
| five largest customers revenue concentration | 30.1% | 20 |
| domestic revenue growth | -8.0% | 20 |
| Adtran, published 2024-11-07, period 2024-Q3 | ||
| Operating Margin (GAAP) | -10.5% | 19 |
| Gross Margin (GAAP) | 37.4% | 19 |
| Cash and cash equivalents | 88,456 | 19 |
| Adtran, published 2024-08-09, period 2024-Q2 | ||
| Revolving Credit Borrowings | 190.3 | 18 |
| Operating Cash Flow | 56.5 | 18 |
| Long-term Investments | 30.2 | 18 |
| Deferred Compensation Program Assets | 29.2 | 18 |
| Cash and Cash Equivalents | 111.2 | 18 |
| Capital Expenditures | 29.4 | 18 |
| Available Credit Facility | 16.4 | 18 |
| Adtran Networks Ownership Percentage | 65.37 | 18 |
| Adtran, published 2024-05-10, period 2024-Q1 | ||
| Potential Exit Compensation Obligation | 365.7 | 16 |
| Government Grants Reduction to R&D | 1.9 | 16 |
| Credit Facility Available | 203.0 | 16 |
| Cash Held by Foreign Subsidiaries | 86.7 | 16 |
| Annual Recurring Compensation | 11.5 | 16 |
| Adtran Networks Ownership | 65.32% | 16 |
| Additional Borrowings Available (Covenant Limited) | 22.7 | 16 |
| Adtran, published 2024-03-15, period FY2023 | ||
| Warranty Liability Dec 31 | 6.4 million | 12 |
| Warranty Liability Dec 31 | 7.2 million | 12 |
| Unrecognized Compensation Expense - Stock Options | 8.1 million | 12 |
| Unrecognized Compensation Expense - Market-Based PSUs/RSUs/Restricted Stock | 15.5 million | 12 |
| Revolving Credit Agreements | 195.0 million | 12 |
| Operating Expense Paid in Local Currencies (%) | 43.2% | 12 |
| Initial Forward Notional Amount (EUR) | €160.0 million | 12 |
| Impairment Charges Capitalized Implementation Costs | 17.4 million | 12 |
| Forward Notional Amount USD | $160.0 million | 12 |
| Foreign Currency Forward Contracts Fair Value | 4.8 million | 12 |
| Cash and Investments Affected by Interest Rates | 5.7 million | 12 |
| Cash and Equivalents Exceeding Insured Limits | 83.2 million | 12 |
| Assumed ADTRAN Networks Stock Options | 2.1 million | 12 |
| Cash on Hand | 87.2 million | 12 |
| Available Credit Facility | 38.8 million | 12 |
| Adtran, published 2024-02-27, period 2023-Q4 | ||
| Non-GAAP Gross Margin | 41.9% | 11 |
| GAAP Gross Margin | 34.8% | 11 |
| Adtran, published 2023-11-09, period 2023-Q3 | ||
| Wells Fargo Indebtedness | $200.0 million | 10 |
| Wells Fargo Credit Facility Available | $450.0 million | 10 |
| Revolving Credit Agreements | $210.6 million | 10 |
| Nord LB Revolving Line of Credit | $16.1 million | 10 |
| Hypothetical Loss Nonfunctional Currencies Invoiced | $10.1 million | 10 |
| Hypothetical Loss Nonfunctional Currencies Billed | $8.6 million | 10 |
| Forward Contracts Outstanding Fair Value | $7.5 million | 10 |
| Exit Compensation Paid | approximately €1.1 million, or approximately $1.2 million | 10 |
| Exit Compensation if All Minority Holders Elect | approximately €325.3 million or approximately $344.2 million | 10 |
| Euro Forward Contract Notional Amount | €160.0 million | 10 |
| Cash and Variable Rate Investments | $6.5 million | 10 |
| Annual Recurring Compensation Obligation | approximately €10.6 million or $11.2 million | 10 |
| ADTRAN Networks shares tendered | 64 thousand shares | 10 |
| ADTRAN Networks borrowings | $10.6 million | 10 |
| Adtran, published 2023-11-07, period 2023-Q3 | ||
| cash and cash equivalents | 116,092 | 9 |
| Non-GAAP operating margin | -1.9% | 9 |
| Non-GAAP operating expenses | 363,526 | 9 |
| Non-GAAP operating expenses | 216,264 | 9 |
| Non-GAAP operating expenses | 114,947 | 9 |
| Non-GAAP operating expenses | 108,989 | 9 |
| Non-GAAP operating expenses | 122,685 | 9 |
| Non-GAAP gross margin | 40.3% | 9 |
| GAAP operating margin | -32.8% | 9 |
| GAAP gross margin | 27.3% | 9 |
| Adtran, published 2023-08-14, period 2023-Q2 | ||
| Wells Fargo credit agreement outstanding | 200.0 million | 7 |
| Wells Fargo credit agreement available | 197.8 million | 7 |
| Short-term investments | 3.1 million | 7 |
| Services & Support segment revenue growth (6M) | 166.8% | 7 |
| Services & Support segment revenue growth (3M) | 176.6% | 7 |
| Operating loss margin | -14.5% | 7 |
| Operating loss margin | -13.6% | 7 |
| Nord/LB revolving line borrowed | 10.9 million | 7 |
| Network Solutions segment revenue growth (6M) | 92.1% | 7 |
| Network Solutions segment revenue growth (3M) | 81.4% | 7 |
| Net loss margin | -10.4% | 7 |
| Net loss margin | -10.2% | 7 |
| International revenue growth (6M) | 218.3% | 7 |
| International revenue growth (3M) | 194.3% | 7 |
| International revenue as % of total | 59.5% | 7 |
| International revenue as % of total | 59.6% | 7 |
| Gross profit margin | 27.7% | 7 |
| Gross profit margin | 28.3% | 7 |
| Domestic revenue growth (6M) | 28.8% | 7 |
| Domestic revenue growth (3M) | 25.1% | 7 |
| Cash on hand | 124.3 million | 7 |
| Available short-term liquidity | 127.4 million | 7 |
| Adtran Networks shares held | 33,957,538 | 7 |
| Adtran Networks ownership | 65.36% | 7 |
| Adtran, published 2023-08-07, period 2023-Q2 | ||
| Non-GAAP Gross Margin | 38.6% | 6 |
| Adtran, published 2023-05-10, period 2023-Q1 | ||
| Wells Fargo Credit Agreement borrowings | 180.0 million | 5 |
| Short-term investments | 1.0 million | 5 |
| Nord/LB revolving line of credit borrowed | 10.8 million | 5 |
| Letters of credit outstanding | 3.4 million | 5 |
| Foreign cash held by subsidiaries | 112.5 million | 5 |
| Cash on hand | 136.5 million | 5 |
| Capital expenditures | 8.4 million | 5 |
| Available short-term liquidity | 137.5 million | 5 |
| ADVA shares held | 33,957,538 | 5 |
| ADVA shareholding percentage | 65.38% | 5 |
Adtran Development
The business development of Adtran period by period up to Q2 2026, each text from the original report of that period, source numbers lead to the source. NadirAlpha methodology
FY2026: Adtran
In the first two quarters of fiscal year 2026, ADTRAN Holdings reported revenue of USD 286.1 million in Q1 and USD 281.1 million in Q2, with year-over-year growth of 15.5% and 6.1% respectively, driven by broadband expansion, high-risk vendor displacement in Europe, and vendor consolidation 34 37. GAAP operating income of USD 6.4 million in Q1 represented a return to operating profitability from an operating loss in Q1 2025, while Q2 saw a GAAP operating loss of USD 10.1 million, impacted by elevated component and freight costs and a single customer project delay 34 35 36. Net losses narrowed year-over-year, with Q1 net loss declining from $11.3 million to USD 1.3 million and Q2 net loss declining from $20.5 million to USD 10.9 million 34 37. ADTRAN Holdings entered into a new $350.0 million credit facility with JPMorgan Chase Bank maturing July 2031 in Q2 2026 and introduced LiteWave800, its first product purpose-built for intra-data center AI infrastructure, in Q1 2026 35 37. ADTRAN Holdings guided Q3 2026 revenue of $275.0 million to $295.0 million with non-GAAP operating margin of 1.5% to 5.5% 38.
FY2025: Adtran
ADTRAN Holdings reported full-year 2025 revenue of $1,083.8 million, a 17.4% increase from $922.7 million in 2024, driven by normalized customer spending, fiber expansion, vendor consolidation, and growing demand for infrastructure modernization 32, 33. Revenue expanded each quarter from $247.7 million in Q1 to $291.6 million in Q4, while the full-year GAAP operating loss was $15.6 million and adjusted operating income reached $51.7 million 133. Gross profit margin expanded to 38.3% from 35.1% in 2024, supported by the completion of the Business Efficiency Program at the end of 2024 32. Full-year operating cash flow was $129.8 million and free cash flow $98.0 million; in September 2025 the company issued $201.3 million of 3.75% convertible senior notes due 2030, using proceeds to repay revolving credit borrowings and ending the year with $95.7 million in cash and net debt of $97.3 million 32, 133, 135. Material weaknesses in internal control over financial reporting, arising from restatements in 2023, 2024, and 2025, remained unremediated as of December 31, 2025 32.
FY2024: Adtran
ADTRAN Holdings reported full-year 2024 revenue of $922.7 million, down 19.7% from $1,149.1 million in 2023, as customers across the Network Solutions and Services & Support segments prioritized reducing elevated inventory levels amid persistent macroeconomic uncertainty 22. A $292.6 million non-cash goodwill impairment charge was recorded in Q1 2024 for the Network Solutions reporting unit, triggered by decreased market capitalization and reduced future cash flow projections, and was the primary driver of a full-year GAAP operating loss of $427.6 million and net loss of $459.9 million 14 133. GAAP gross margin improved from 29.0% in 2023 to 35.8% in 2024, in part reflecting the step-down of amortization of intangible assets and acquisition-related costs from the Adtran Networks business combination rather than purely operational improvement 22. Operating cash flow swung from negative $45.6 million in 2023 to positive $103.1 million in 2024, aided by a 25.7% reduction in inventory to $269.3 million 22. The Business Efficiency Program, initiated in late 2023, was substantially completed by December 2024, encompassing workforce reductions, facility closures, and discontinuation of copper-based DSL, fixed wireless access, and IoT gateway product lines 22.
FY2023: Adtran
ADTRAN Holdings reported FY 2023 revenue of $1,149.1 million, up 12.0% year-over-year, with approximately $379.0 million in incremental revenue from the Business Combination with Adtran Networks SE partially offset by a $255.4 million decline driven by customer inventory reduction efforts concentrated in the Subscriber Solutions category 12. GAAP gross margin contracted to 29.0% from 31.9% in 2022, primarily attributable to $89.6 million in acquisition-related adjustments and inventory write-downs, not operational deterioration in the underlying cost structure 12. The GAAP operating loss widened to $221.9 million (19.3% of revenue) from $72.8 million in 2022, including a $37.9 million non-cash goodwill impairment charge on the Services & Support reporting unit and $24.3 million in inventory write-downs related to product line discontinuations 12 13. Net loss attributable to ADTRAN Holdings reached $267.7 million ($3.41 per diluted share) versus $2.0 million in 2022; free cash flow was negative $79.4 million and cash on hand declined to $87.2 million at year-end 11 125. In November 2023, the company launched a Business Efficiency Program targeting $90 million in non-GAAP operating expense reductions for 2024, suspended its quarterly dividend, and initiated site consolidations and a workforce reduction of approximately 5% 9 12.
Glossary
- Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
- Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
- Op. income (adj.): Adjusted operating income, verbatim and company-defined (non-GAAP), never derived.
- Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
- EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
- EPS adj.: Adjusted earnings per share, verbatim and company-defined (non-GAAP).
- FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
- OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
- Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
- Net Debt: Net debt = financial debt excluding lease liabilities minus cash at the same reporting date; the company's own net position may differ.
- *: derived, the formula is in the hover
- ≈: calculated, approximation
- ~: uncertain; the value stays visible, verdicts do not use it
- °: repaired by a targeted query against the document, or curated with documentary evidence
- EBIT: EBIT as a fallback: the income statement carries no operating line
- basic: basic earnings per share as a fallback when diluted is missing
Sources: quarterly reports, annual reports and investor relations documents
56 sources on Adtran since 2023; the superscript numbers in the chapters refer to these rows, older documents are in the expandable part. NadirAlpha methodology
Older sources (+18)
| # | Document type | Published |
|---|---|---|
| #210 | 10-K annual report | 2016-05-04 |
| #209 | 10-Q quarterly report | 2016-08-05 |
| #211 | 10-Q quarterly report | 2017-02-24 |
| #213 | 10-K annual report | 2017-02-24 |
| #212 | 10-Q quarterly report | 2017-08-04 |
| #215 | 10-K annual report | 2018-02-23 |
| #214 | 10-Q quarterly report | 2018-08-03 |
| #217 | 10-K annual report | 2019-02-28 |
| #216 | 10-Q quarterly report | 2019-09-20 |
| #201 | 10-K annual report | 2020-02-25 |
| #218 | 10-Q quarterly report | 2020-08-07 |
| #205 | 10-K/A annual report, amended | 2021-02-26 |
| #202 | 10-Q quarterly report | 2021-05-06 |
| #203 | 10-Q quarterly report | 2021-08-06 |
| #204 | 10-Q/A quarterly report, amended | 2021-11-05 |
| #206 | 10-Q/A quarterly report, amended | 2022-05-06 |
| #207 | 10-Q/A quarterly report, amended | 2022-08-05 |
| #208 | 10-Q/A quarterly report, amended | 2022-11-09 |
Adtran Stock FAQ
Which additional key figures does Adtran report?
As reported for Q2 2026: Net cash provided by operating activities (Q2), DSO days, Cloud/Hyperscaler/Enterprise/Government revenue growth YoY. The chapter Reported KPIs lists every value with its source. Revenue is broken down by International, Domestic, Network Solutions, Optical Networking Solutions.
Where can I find the official investor relations documents of Adtran?
NadirAlpha links all 56 original filings used (SEC filings) in the sources chapter: earnings release, quarterly report, annual report, each with type, publication date and a direct link; every figure in the report carries a source number.