Financial Data and Key Metrics Changes - Revenue for Q3 2020 was $133.1 million, up from $128.7 million in Q2 2020 and $114.1 million in Q3 2019 [17] - GAAP gross margin for Q3 2020 was 44.3%, compared to 41.5% in Q2 2020 and 40.6% in Q3 2019 [18] - GAAP net income for Q3 2020 was $5.5 million, compared to $800,000 in Q2 2020 and a net loss of $46.1 million in Q3 2019 [23][24] Business Line Data and Key Metrics Changes - Network Solutions revenue for Q3 2020 was $115.2 million, up from $111.3 million in Q2 2020 and $94 million in Q3 2019 [17] - Global Services revenue was $17.9 million in Q3 2020, compared to $17.4 million in Q2 2020 and $20.1 million in Q3 2019 [17] - Fiber Access & Aggregation business grew 34% quarter-over-quarter and 66% year-over-year [10] Market Data and Key Metrics Changes - Domestic revenue for Q3 2020 was $92.8 million, up from $84.5 million in Q2 2020 and $83.1 million in Q3 2019 [18] - International revenue for Q3 2020 was $40.3 million, down from $44.3 million in Q2 2020 but up from $30.9 million in Q3 2019 [18] - Revenue from U.S. Tier 2 customers was up 18% year-over-year, while revenue from European emerging alt-net providers was up 76% year-over-year [9] Company Strategy and Development Direction - The company is focused on expanding its wallet share with service provider customers and increasing attach rates for residential gateway and software subscription services [12] - The RDOF broadband subsidies are expected to positively impact revenue starting mid-2021, providing opportunities for rural and local exchange carriers [13] - The company is positioned as a safe alternative to high-risk vendors in the context of global 5G and fiber broadband infrastructure developments [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's resilience and growth potential despite challenges posed by the COVID-19 pandemic [14] - The company anticipates a strong finish to 2020 and a bright outlook for 2021, driven by new customer acquisitions and the adoption of its Mosaic platform [15] - Management highlighted the importance of connectivity and ongoing demand for network upgrades across various customer segments [6] Other Important Information - Total operating expenses on a GAAP basis were $54.4 million for Q3 2020, down from $59.5 million in Q2 2020 and $62.7 million in Q3 2019 [20] - The company increased inventory levels to mitigate supply chain challenges and ensure continuity during the pandemic [11] - Unrestricted cash and marketable securities totaled $132.2 million at quarter-end, with a DSO of 69 days [25] Q&A Session Summary Question: Clarification on new Tier 1 customer - Management confirmed the addition of a new Tier 1 customer in Q3 and noted progress with previously announced Tier 1s, expecting material revenue contributions in the first half of next year [30][32] Question: Insights on RDOF timing - Management indicated that RDOF funding is expected to start impacting revenue around mid-2021, with a gradual ramp-up [34] Question: Broadband demand in the U.S. - Management reported strong activity across Tier 2 and Tier 3 customers, with ongoing network upgrades driven by end-user demand [40] Question: Gross margin drivers - Management explained that the increase in gross margins was driven by a favorable product mix, particularly the shift from copper to fiber [42] Question: Long-term margin profile - Management maintained a long-term gross margin guidance in the low to mid-40s range, with variability based on customer mix and international revenue [46][48] Question: Impact of European shutdowns - Management noted that European shutdowns have not significantly impacted operations, with ongoing infrastructure builds continuing as planned [60] Question: Activity in Latin America - Management reported positive activity in the Caribbean and Brazil, with ongoing negotiations with traditional customers [62]

ADTRAN, Inc. (NASDAQ:ADTN) Q2 2020 Earnings Conference Call August 6, 2020 10:30 AM ET Company Participants Tom Stanton - Chief Executive Officer Mike Foliano - Chief Financial Officer Conference Call Participants Rod Hall - Goldman Sachs Michael Genovese - MKM Partners Rich Valera - Needham and Company Fahad Najam - Cowen and Company Tim Savageaux - Northland Capital George Notter - Jefferies Paul Silverstein - Cowen Operator Ladies and gentlemen, thank you for standing by, and welcome to ADTRAN's Second ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 000-24612 ADTRAN, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 63-0918200 (State or other juri ...

ADTRAN, Inc. (NASDAQ:ADTN) Q1 2020 Earnings Conference Call May 7, 2020 10:30 AM ET Company Participants Thomas Stanton - Chairman & CEO Michael Foliano - SVP, Finance, CFO & Corporate Secretary Conference Call Participants Ashwin Kesireddy - Goldman Sachs Group Richard Valera - Needham & Company George Notter - Jefferies Michael Genovese - MKM Partners Paul Silverstein - Cowen and Company William Dezellem - Tieton Capital Management Timothy Savageaux - Northland Capital Markets Operator Ladies and gentlem ...

I will UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, Par Value $0.01 per share ADTN The NASDAQ Global Select Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission file number 000-24612 ADTRAN, Inc. (Exact name of registrant as specified in its charter) Delaware 63-0918200 (State of Incorporation) (I.R.S. Employer Identificat ...

ADTRAN, Inc. (NASDAQ:ADTN) Q4 2019 Earnings Conference Call February 6, 2020 10:30 AM ET Company Participants Tom Stanton - Chief Executive Officer Mike Foliano - Chief Financial Officer Conference Call Participants Rich Valera - Needham & Company Ashwin Kesireddy - Goldman Sachs George Notter - Jefferies Paul Silverstein - Cowen Fahad Najam - Cowen Operator Ladies and gentlemen, thank you for standing by and welcome to ADTRAN's Fourth Quarter 2019 Earnings Release Conference Call. All lines have been place ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, Par Value $0.01 per share ADTN The NASDAQ Global Select Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SE ...

ADTRAN, Inc. (NASDAQ:ADTN) Q3 2019 Earnings Conference Call October 31, 2019 10:30 AM ET Company Participants Thomas Stanton - Chief Executive Officer Michael Foliano - Chief Financial Officer Conference Call Participants Ashwin Kesireddy - Goldman Sachs George Notter - Jefferies & Company Richard Valera - Needham & Company Fahad Najam - Cowen Inc. Matthew Dhane - Tieton Capital Management Paul Silverstein - Cowen Inc. Operator Ladies and gentlemen, thank you for standing by, and welcome to ADTRAN’s Third Q ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 000-24612 ADTRAN, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 63-0918200 (State or other juri ...