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ADTRAN Holdings, Inc. provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services. The company provides various software, such as Mosaic One SaaS, n-Command, Procloud, MCP, AOE, and ACI-E. It serves large, medium, and small service providers; alternative service providers, such as utilities, municipalities and fiber overbuilders; cable/MSOs; and SMBs and distributed enterprises. ADTRAN Holdings, Inc. was incorporated in 1985 and is headquartered in Huntsville, Alabama.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $81M | $-46M | $61M | -31.3% | 17.5% | -90.1% |
| 2024 | $923M | $-330M | $-460M | $38M | -362.3% | -19.7% | 71.1% |
| 2023 | $1.1B | $-104M | $-269M | $-89M | -44.4% | 12.0% | 13098.4% |
| 2022 | $1.0B | $0M | $-2M | $-61M | -0.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,025.54 | 1,149.10 | 922.72 | 1,083.81 |
| Operating Revenue | - | 1,025.54 | 1,149.10 | 922.72 | 1,083.81 |
| Cost Of Revenue | - | 698.28 | 817.97 | 598.56 | 668.85 |
| Gross Profit | - | 327.25 | 331.13 | 324.16 | 414.96 |
| Operating Expense | - | 382.65 | 516.92 | 454.38 | 430.55 |
| Research And Development | - | 173.76 | 258.31 | 221.46 | 204.28 |
| Selling General And Administration | - | 208.89 | 258.61 | 232.92 | 226.28 |
| Total Expenses | - | 1,080.93 | 1,334.89 | 1,052.93 | 1,099.40 |
| Operating Income | - | -55.39 | -185.79 | -130.21 | -15.60 |
| Total Operating Income As Reported | - | -72.83 | -223.67 | -427.56 | -15.60 |
| EBITDA | - | 0.03 | -104.36 | -330.14 | 80.64 |
| Normalized EBITDA | - | 28.80 | -69.24 | -36.38 | 77.64 |
| EBIT | - | -67.53 | -217.31 | -420.67 | -11.91 |
| Interest Income | - | 2.12 | 2.34 | 3.06 | 2.32 |
| Interest Expense | - | 3.44 | 16.30 | 22.05 | 19.34 |
| Net Interest Income | - | -1.31 | -13.96 | -19 | -17.02 |
| Other Non Operating Income Expenses | - | 14.52 | 1.27 | 0.25 | -1.63 |
| Other Income Expense | - | -14.26 | -33.85 | -293.52 | 1.37 |
| Interest Income Non Operating | - | 2.12 | 2.34 | 3.06 | 2.32 |
| Interest Expense Non Operating | - | 3.44 | 16.30 | 22.05 | 19.34 |
| Net Non Operating Interest Income Expense | - | -1.31 | -13.96 | -19 | -17.02 |
| Pretax Income | - | -70.96 | -233.61 | -442.73 | -31.25 |
| Tax Provision | - | -62.08 | 28.30 | 7.34 | 4.99 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -6.04 | -7.38 | -61.69 | 0.63 |
| Net Income Continuous Operations | - | -8.89 | -261.91 | -450.07 | -36.24 |
| Net Income From Continuing And Discontinued Operation | - | -2.04 | -268.85 | -459.89 | -45.66 |
| Net Income From Continuing Operation Net Minority Interest | - | -2.04 | -268.85 | -459.89 | -45.66 |
| Net Income | - | -2.04 | -268.85 | -459.89 | -45.66 |
| Net Income Common Stockholders | - | -2.04 | -268.85 | -456.91 | -41.57 |
| Net Income Including Noncontrolling Interests | - | -8.89 | -261.91 | -450.07 | -36.24 |
| Normalized Income | - | 20.69 | -241.11 | -227.82 | -48.03 |
| Diluted NI Availto Com Stockholders | - | -2.04 | -268.85 | -456.91 | -41.57 |
| Basic Average Shares | - | 62.35 | 78.42 | 78.93 | 79.74 |
| Diluted Average Shares | - | 62.35 | 78.42 | 78.93 | 79.74 |
| Reconciled Depreciation | - | 67.55 | 112.95 | 90.53 | 92.55 |
| Reconciled Cost Of Revenue | - | 698.28 | 817.97 | 598.56 | 668.85 |
| Total Unusual Items | - | -28.77 | -35.12 | -293.77 | 3 |
| Total Unusual Items Excluding Goodwill | - | -28.77 | -35.12 | -293.77 | 3 |
| Minority Interests | - | 6.85 | -6.95 | -9.82 | -9.41 |
| Special Income Charges | - | -17.43 | -37.87 | -297.35 | 0 |
| Write Off | 0 | 17.43 | 0 | 0 | - |
| Impairment Of Capital Assets | - | 0 | 37.87 | 297.35 | 0 |
| Gain On Sale Of Security | - | -11.34 | 2.75 | 3.59 | 3 |
| Otherunder Preferred Stock Dividend | - | 0 | 0 | -2.98 | -4.08 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ADTRAN Holdings, Inc.this co. | ADTN | $1.4B | -30.64 | 9.59 | -31.3% | 19.20 |
| Alpha and Omega Semiconductor Limited | AOSL | $1.5B | -15.51 | 1.83 | -11.8% | 37.64 |
| EVERTEC, Inc. | EVTC | $1.4B | 9.90 | 2.25 | 22.8% | 6.46 |
| Array Technologies, Inc. | ARRY | $1.4B | - | 5.37 | -43.0% | 42.29 |
| Rackspace Technology, Inc. | RXT | $1.4B |
| - |
| - |
| - |
| - |
| - |
| - |
| -6.17 |
| -1.14 |
| 18.5% |
| 18.61 |
| CEVA, Inc. | CEVA | $1.4B | -129.84 | 4.11 | -3.2% | -191.72 |
| Progress Software Corporation | PRGS | $1.3B | 18.15 | 2.78 | 15.3% | 8.75 |
| Blackbaud, Inc. | BLKB | $1.3B | 11.33 | 15.32 | 135.2% | 8.32 |
| VIA | VIA | $1.3B | -13.50 | 2.07 | -15.4% | -12.17 |
| Peer Median | - | -6.17 | 2.51 | 6.1% | 8.53 | |