ADTRAN Holdings, Inc. (ADTN) reported soft fourth-quarter 2023 results, wherein both the bottom line and the top line missed the respective Zacks Consensus Estimate. The company recorded a top-line contraction year over year due to geopolitical tension, forex volatility and tough competition from other players in the market.Net IncomeOn a GAAP basis, the net loss in the December quarter was $109.9 million or a loss of $1.40 per share against an income of $38.9 million or 49 cents per share in the prior-year ...

Core Insights - ADTRAN Holdings, Inc. reported preliminary unaudited financial results for Q4 2023, indicating a challenging revenue environment but improvements in gross margins and operating expenses [1][4]. Financial Performance - Preliminary GAAP gross margin for Q4 2023 was 34.8%, an increase of 483 basis points year-over-year and 754 basis points quarter-over-quarter, driven by lower purchasing and transportation costs, as well as reduced acquisition-related expenses [1][2]. - Preliminary non-GAAP gross margin was 41.9%, up from 40.3% in Q3 2023 and 39.1% in the same quarter last year, reflecting a favorable customer and product mix [2]. - Preliminary GAAP operating margin was negative 16.7%, impacted by lower revenue and acquisition-related expenses, while non-GAAP operating margin was negative 1.4%, at the upper end of the guidance range [2][3]. - The company reported a preliminary GAAP net loss of $109.9 million for Q4 2023, translating to a diluted loss per share of $1.40 [2][3]. Revenue and Cost Analysis - Total revenue for Q4 2023 was $225.5 million, down from $358.3 million in Q4 2022, with Network Solutions revenue at $180.4 million and Services & Support revenue at $45.1 million [15]. - Cost of revenue for Q4 2023 was $147.0 million, compared to $250.9 million in the same quarter last year, with a notable inventory write-down of $3.3 million [15][18]. - The company reduced GAAP operating expenses by 7.6% sequentially and 17.0% year-over-year, while non-GAAP operating expenses were reduced by 15.1% sequentially and 17.7% year-over-year [2][3]. Management Commentary - The CEO expressed that while revenue challenges persist due to macroeconomic conditions and elevated customer inventories, the fundamental demand for expanding fiber infrastructure remains strong [4]. - The company is implementing cost improvement measures to transform into a more streamlined and efficient organization, positioning itself for better performance when spending normalizes [4]. Upcoming Events - ADTRAN Holdings will hold a conference call on February 27, 2024, to discuss its preliminary fourth-quarter results [4].

ADTRAN Inc. (ADTN) announced that Vodafone Turkey has selected ADTRAN Oscilloquartz optical cesium atomic clock technology to ensure ultra-reliable synchronization for the nationwide network services. The suite of solutions encompasses Oscilloquartz OSA 3350 ePRC+™, which is integrated with Vodafone’s existing core grandmaster clocks Oscilloquartz OSA 5440 and OSA 5430.Leveraging optical pumping technology, the OSA 3350 ePRC+ offers high-performance frequency stability and effectively matches the rising dem ...

HUNTSVILLE, Ala.--(BUSINESS WIRE)--Adtran today announced that it has been recognized as one of STL Partners’ top 100 edge computing companies for 2024, marking its second consecutive year of inclusion on the list. The acknowledgment reaffirms Adtran’s substantial contributions to the sector and highlights its role as a leader, driving innovation amidst the quickly evolving edge computing landscape. This leadership is increasingly vital as more enterprises and service providers seek options beyond centrally ...

HUNTSVILLE, Ala.--(BUSINESS WIRE)--Adtran today announced its readiness to support the Broadband Equity Access and Deployment (BEAD) program, welcoming the clarity and guidance provided by the Build America, Buy America (BABA) rule. With its commitment to US-based manufacturing spanning three decades, Adtran is at the forefront of the market with BABA-compliant fiber access solutions ready to enhance nationwide connectivity, economic growth and the digital inclusivity of communities across America. With 42. ...

ISTANBUL--(BUSINESS WIRE)--Adtran today announced that Vodafone Turkey has deployed its Oscilloquartz optical cesium atomic clock technology to bring new levels of resilient timing to its nationwide network. Adtran’s first-to-market solution will deliver robust protection against disruptions to GNSS signals, enabling Turkey’s leading service provider to maintain uninterrupted, reliable connectivity even while it readies 5G services. By combining its existing Adtran Oscilloquartz core grandmaster clock devic ...

HUNTSVILLE, Ala.--(BUSINESS WIRE)--ADTRAN Holdings, Inc. (NASDAQ: ADTN) announced today that the Company will release its financial results for the fourth quarter 2023 after market close on Monday, February 26, 2024. The Company will conduct a conference call on Tuesday, February 27, 2024, to discuss the results for the quarter. What: ADTRAN Holdings, Inc. Earnings Call When: 9:30 a.m. Central Time on Tuesday, February 27 Where: www.adtran.com/investor ADTRAN Holdings, Inc. will webcast this conference. ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) For the quarterly period ended September 30, 2023 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: 001-41446 ADTRAN Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 87-2164282 (State ...

ADTRAN Holdings, Inc (NASDAQ:ADTN) Q3 2023 Earnings Conference Call November 7, 2023 10:30 AM ET Company Participants Tom Stanton - Chief Executive Officer Ulrich Dopfer - Chief Financial Officer Conference Call Participants George Notter - Jefferies Michael Genovese - Rosenblatt Securities Ryan Koontz - Needham & Company Tim Savageaux - Northland Capital Markets Operator Ladies and gentlemen, thank you for standing by and welcome to the ADTRAN Holdings Inc. Third Quarter 2023 Earnings Release Conference Ca ...

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, 2023 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: 001-41446 ADTRAN Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 87-2164282 (State or o ...