ADTRAN Holdings, Inc. Announces Q3 2024 Financial Results

ADTRAN Holdings, Inc. revealed its preliminary, unaudited financial results for the third quarter of 2024. The company reported a revenue of $227.7 million, marking a sequential rise and surpassing the midpoint of guidance. GAAP gross margin was 37.4%, while the non-GAAP figure reached 42.1%, both showing a sequential uptick.

The company's GAAP operating margin was negative 10.5%, while the non-GAAP margin was a positive 1.1%. The respective diluted loss per share was $0.36 for GAAP and $0.05 for non-GAAP. CEO Tom Stanton noted improvements in key markets and customer base growth.

Looking forward, ADTRAN anticipates fourth-quarter revenue between $230 million and $245 million, with a non-GAAP operating margin of 0% to 4%. Positive customer booking trends and improved service provider spending bolster this outlook.