Financial Data and Key Metrics Changes - Revenue for Q4 2020 was $130.1 million, compared to $133.1 million in Q3 2020 and $115.8 million in Q4 2019 [16][18] - GAAP gross margin for Q4 2020 was 41.1%, down from 44.3% in Q3 2020 and up from 40.8% in Q4 2019 [19] - Non-GAAP net income for Q4 2020 was $5.2 million, compared to $7.9 million in Q3 2020 and a net loss of $2.5 million in Q4 2019 [25][26] Business Line Data and Key Metrics Changes - Network solutions revenue for Q4 2020 was $114.1 million, slightly down from $115.2 million in Q3 2020 but up from $96.2 million in Q4 2019 [16][17] - Global Services revenue was $16 million in Q4 2020, down from $17.9 million in Q3 2020 and $19.6 million in Q4 2019 [17] - Fiber access and aggregation business grew 98% year-over-year, while in-home service delivery platforms increased by 68% year-over-year [9] Market Data and Key Metrics Changes - Domestic U.S. revenue for Q4 2020 was $95.8 million, up from $92.8 million in Q3 2020 and $69.9 million in Q4 2019 [18] - EMEA market segment revenue grew 54% year-over-year, driven by investments in 10-gig fiber access networks [9] - The Tier 2 and regional broadband operator market in the U.S. was up 85% year-over-year [9] Company Strategy and Development Direction - The company is focusing on expanding its fiber access portfolio and cloud services to capitalize on increasing demand for broadband connectivity [8][14] - ADTRAN aims to diversify its customer base and has successfully added 35 new service provider customers during the quarter [8] - The company is actively involved in several Tier 1 decision processes globally, with expectations for significant milestones in the near future [10] Management's Comments on Operating Environment and Future Outlook - Management highlighted the ongoing impact of COVID-19 on operations and the importance of broadband connectivity [5][6] - The company expects Q1 2021 revenue to be in the range of $122 million to $130 million, with gross margins projected between 40% to 42% [29] - Management expressed confidence in maintaining operational efficiency despite supply chain challenges and extended lead times for components [11][29] Other Important Information - The company has maintained elevated inventory levels to ensure supply continuity during the pandemic [28] - ADTRAN's fiber-related solutions represented over 70% of its business in Q4 2020, marking a significant shift from copper solutions [15] Q&A Session Summary Question: Can you discuss the supply constraint situation? - Management acknowledged tightness in the supply chain, particularly with silicon components, and noted that they have factored this into their guidance for the next quarter [34][36] Question: How is the Tier 2 and Tier 3 operator segment performing? - Management confirmed that the Tier 2 and Tier 3 segments are the fastest-growing, now accounting for over 50% of the business [42][44] Question: What is the outlook for gross margins given component issues? - Management indicated that gross margins are expected to remain relatively flat due to ongoing component challenges, despite initial expectations for expansion [50] Question: Can you provide details on the RFP pipeline? - Management mentioned that there are six to eight material RFPs currently in progress, with expectations for two to close in the first half of the year [52][68] Question: How is COVID-19 impacting broadband demand? - Management noted that the pandemic has highlighted the importance of broadband, prompting governments and carriers to reassess their infrastructure plans [71]

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, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SE ...

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 ...