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Financials · ADTN

ADTRAN Holdings Inc. (ADTN) financials

For the twelve months ended Sep 30, 2026, ADTRAN Holdings Inc. reported $1.14B of revenue and -$25.05M of net income.

Revenue, TTM
$1.14B
Revenue growth, YoY
+10.1%
Net income, TTM
-$25.05M
Net margin
-2.2%
Free cash flow, TTM
$22.48M
EPS, diluted, TTM
-$0.26
Cash
$64.63M
Total debt
$194.22M
P/S
0.29
Market cap
$328.8M
Annual revenue$1.08B
FY2016FY2025
Annual net income-$45.66M
FY2016FY2025
Annual free cash flow$98.03M
FY2016FY2025

ADTN revenue and earnings growth

ADTN revenueQ3 2026$281.17M

Quarter YoY
+0.6%
QoQ
+0.0%
FY YoY
+17.5%
5Y CAGR
+16.4%
10Y CAGR
+6.1%

ADTN revenue was $281.17M in fiscal Q3 2026 (ended Sep 30, 2026), up 0.6% from a year earlier and up 0.0% from the prior quarter. For the full fiscal 2025 it was $1.08B, up 17.5% from fiscal 2024. Compound annual growth was +16.4% over 5 years and +6.1% over 10 years. It rose in 7 of the last 10 fiscal years.

ADTN net incomeQ3 2026-$9.23M

ADTN net income was -$9.23M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$10.26M a year earlier. For the full fiscal 2025 it was -$45.66M, compared with -$459.89M in fiscal 2024.

ADTN EPSQ3 2026-$0.10

ADTN diluted EPS was -$0.10 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.12 a year earlier. For the full fiscal 2025 it was -$0.52, compared with -$5.79 in fiscal 2024.

ADTN free cash flowQ3 2026-$30.23M

FY YoY
+41.9%
10Y CAGR
+30.6%

ADTN free cash flow was -$30.23M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $4.21M a year earlier. For the full fiscal 2025 it was $98.03M, up 41.9% from fiscal 2024. Compound annual growth was +30.6% over 10 years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$1.08B$922.72M$1.15B$1.03B$563.00M$506.51M$530.06M$529.28M$666.90M$636.78M
Cost of revenue$668.85M$598.56M$817.97M$698.28M$344.63M$288.96M$310.89M$325.71M$363.26M$345.45M
Gross profit$414.95M$324.16M$331.13M$327.25M$218.38M$217.55M$219.17M$203.56M$303.63M$291.33M
Research and development$204.28M$221.46M$258.31M$173.76M$108.66M$113.29M$126.20M$124.55M$130.67M$124.91M
Selling, general and admin$226.28M$232.92M$258.61M$208.89M$124.41M$113.97M$130.29M$124.44M$135.58M$131.85M
Operating income-$15.60M-$427.56M-$223.67M-$72.83M-$14.70M-$9.77M-$39.96M-$45.42M$37.39M$34.57M
Interest expense$19.34M$22.05M$16.30M$3.44M$34.0K$5.0K$511.0K$533.0K$556.0K$572.0K
Pre-tax income-$31.25M-$442.73M-$233.61M-$70.96M-$6.30M-$6.25M-$24.78M-$33.37M$44.69M$46.90M
Income tax$4.99M$7.34M$28.30M-$62.08M$2.33M-$8.62M$28.20M-$14.03M$20.85M$11.67M
Net income-$45.66M-$459.89M-$268.85M-$2.04M-$8.63M$2.38M-$52.98M-$19.34M$23.84M$35.23M
EPS, basic-$0.52-$5.79-$3.43-$0.03-$0.18$0.05-$1.11-$0.40$0.50$0.72
EPS, diluted-$0.52-$5.79-$3.43-$0.03-$0.18$0.05-$1.11-$0.40$0.49$0.72
Diluted shares79.7M78.9M78.4M62.3M48.6M48.3M47.8M47.9M48.7M48.9M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$95.70M$76.02M$87.17M$108.64M$56.60M$60.16M$73.77M$105.50M$86.43M$79.89M
Short-term investments--$0$340.0K$350.0K$3.13M$33.24M$3.25M$16.13M$43.19M
Receivables$210.69M$178.03M$209.74M$279.44M$158.74M$98.83M$90.53M$99.39M$144.15M$92.35M
Inventory$215.74M$261.56M$360.42M$427.53M$139.89M$125.46M$98.31M$99.85M$122.54M$105.12M
Current assets$635.22M$599.14M$718.97M$882.36M$376.32M$317.42M$320.31M$355.43M$413.11M$352.90M
Goodwill$59.98M$52.92M$358.15M$386.46M$6.97M$6.97M$6.97M$7.11M$3.49M$3.49M
Total assets$1.20B$1.17B$1.68B$1.94B$569.02M$525.68M$545.12M$628.03M$669.09M$667.24M
Current liabilities$361.86M$293.47M$274.00M$428.57M$155.36M$94.19M$112.71M$118.01M$106.82M$126.53M
Short-term debt------$24.60M$1.00M$1.10M$1.00M
Long-term debt$193.04M------$24.60M$25.60M$26.80M
Total debt$193.04M-----$24.60M$25.60M$26.70M$27.80M
Total liabilities$685.34M$621.52M$628.86M$639.88M$211.91M$152.74M$164.69M$181.75M$171.18M$187.72M
Shareholders' equity$145.83M$126.95M$605.26M$1.30B$357.10M$372.94M$380.43M$446.28M$497.91M$479.52M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$129.77M$103.57M-$43.02M-$44.23M$3.01M-$16.52M-$2.47M$55.45M-$42.38M$42.00M
Capital expenditures$31.74M$34.50M$36.34M$17.07M$5.67M$6.41M$9.49M$8.11M$14.72M$21.44M
Free cash flow$98.03M$69.07M-$79.35M-$61.30M-$2.66M-$22.93M-$11.97M$47.34M-$57.10M$20.56M
Investing cash flow-$69.17M-$64.25M-$34.86M$55.83M$10.27M$41.40M-$9.79M$285.0K$66.04M-$6.48M
Financing cash flow-$46.68M-$50.01M$58.87M$52.94M-$12.96M-$42.98M-$17.87M-$32.42M-$22.40M-$39.78M
Dividends paid-$0$21.24M$22.89M$17.53M$17.33M$17.21M$17.27M$17.37M$17.60M
Share repurchases------$184.0K$15.53M$17.35M$25.82M
Stock-based compensation$10.06M$15.99M$16.38M$28.32M$7.48M$6.83M$6.96M$7.16M$7.43M$6.70M
Depreciation and amortization$92.55M$90.53M$112.95M$67.55M$16.08M$16.63M$17.77M$15.89M$15.69M$14.41M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY17.5%-19.7%12.0%82.2%11.2%-4.4%0.1%-20.6%4.7%6.1%
Net income growth, YoY---------32.3%88.9%
EPS growth, YoY---------31.9%100.0%
Gross margin38.3%35.1%28.8%31.9%38.8%43.0%41.3%38.5%45.5%45.8%
Operating margin-1.4%-46.3%-19.5%-7.1%-2.6%-1.9%-7.5%-8.6%5.6%5.4%
Net margin-4.2%-49.8%-23.4%-0.2%-1.5%0.5%-10.0%-3.7%3.6%5.5%
Free cash flow margin9.0%7.5%-6.9%-6.0%-0.5%-4.5%-2.3%8.9%-8.6%3.2%
Return on equity-31.3%-362.3%-44.4%-0.2%-2.4%0.6%-13.9%-4.3%4.8%7.3%
Return on assets-3.8%-39.3%-16.0%-0.1%-1.5%0.5%-9.7%-3.1%3.6%5.3%
Current ratio1.762.042.622.062.423.372.843.013.872.79
Debt to equity1.32-----0.060.060.050.06

Source: XBRL data ADTRAN Holdings Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ADTN peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ADTN$1.14B+10.1%-$25.05M-2.2%$328.8M
VZ$139.39B+1.4%$16.42B11.8%$189.35B
TMUS$93.82B+9.3%$11.30B12.0%$171.61B
T$128.85B+3.5%$13.13B10.2%$145.71B
GLW$17.72B+18.8%$2.24B12.6%$91.42B
AMXMXN 943.64B+8.6%MXN 82.82B8.8%$77.40B
LITE$3.74B+103.2%-$6.58B-175.8%$48.85B
CHTNT$236.11B+2.7%NT$38.70B16.4%$38.67B
VOD€40.46B+8.0%-€397.00M-1.0%$36.05B

ADTN FAQ

9 questions
  • What is ADTN revenue?
    ADTRAN Holdings Inc. (ADTN) reported $1.14B of revenue for the twelve months ended Sep 30, 2026. That is up 10.1% from the year before. Revenue for fiscal 2025 was $1.08B.
  • Is ADTN profitable?
    No. ADTRAN Holdings Inc. reported a net loss of $25.05M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does ADTN have?
    ADTRAN Holdings Inc. reported $64.63M in cash and cash equivalents and $194.22M of debt on its most recent balance sheet in SEC filings.
  • How fast is ADTN revenue growing?
    ADTRAN Holdings Inc.'s revenue changed +17.5% in fiscal 2025, to $1.08B. Its compound annual growth rate was +16.4% over 5 years and +6.1% over 10 years.
  • What is ADTN gross margin?
    ADTRAN Holdings Inc.'s gross profit was $438.90M on $1.14B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 38.5%.
  • What is ADTN free cash flow?
    ADTRAN Holdings Inc. generated $22.48M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $56.35M less capital expenditures.
  • What is ADTN earnings per share?
    Diluted earnings per share were -$0.26 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ADTN last report financial results?
    The latest statements here come from ADTRAN Holdings Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this ADTN financial data come from?
    Quantisnow builds these statements from the structured XBRL data ADTRAN Holdings Inc. files with the SEC. It is provided for information only and is not investment advice.