ADTRAN Holdings, Inc. Announces Q2 2024 Financial Results

Huntsville, Alabama — August 5, 2024 — ADTRAN Holdings, Inc. (NASDAQ: ADTN and FSE: QH9) released its unaudited financial results for Q2 2024 today. Revenue reached $226.0 million. The GAAP gross margin was 36.1%, while the non-GAAP gross margin stood at 41.9%. The GAAP operating margin was negative at 17.0%, albeit positive at 0.7% on a non-GAAP basis.

The company reported a GAAP net loss of $49.9 million ($0.63 per share) and a non-GAAP net loss of $18.8 million ($0.24 per share). For Q3 2024, ADTRAN anticipates revenue between $215 million and $235 million with a non-GAAP operating margin range from -1% to +3%.

CEO Tom Stanton noted improvements in operating metrics and customer growth in the US and Europe through the company's fiber networking solutions. Despite ongoing financial challenges, the company continues to focus on growth and efficiency.