v3.26.1
Condensed Consolidated Statements of Loss (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue        
Total Revenue $ 281,146 $ 265,068 $ 567,232 $ 512,812
Cost of Revenue        
Total Cost of Revenue 177,195 166,144 350,293 318,712
Gross Profit 103,951 98,924 216,939 194,100
Selling, general and administrative expenses 60,243 60,347 116,079 110,632
Research and development expenses 53,779 51,895 104,556 100,754
Operating Loss (10,071) (13,318) (3,696) (17,286)
Interest and dividend income 397 201 697 327
Interest expense (4,234) (4,564) (8,475) (9,325)
Net investment gain 5,274 3,075 4,424 1,389
Other income (expense), net 718 (2,636) 1,981 (1,692)
Loss Before Income Taxes (7,916) (17,242) (5,069) (26,587)
Income tax expense (788) (1,016) (2,705) (619)
Net Loss (8,704) (18,258) (7,774) (27,206)
Less: Net Income attributable to non-controlling interest [1] 2,201 2,273 4,452 4,592
Net Loss attributable to ADTRAN Holdings, Inc. $ (10,905) $ (20,531) $ (12,226) $ (31,798)
Weighted average shares outstanding – basic 80,948 79,748 80,639 79,642
Weighted average shares outstanding – diluted 80,948 79,748 80,639 79,642
Loss per common share attributable to ADTRAN Holdings, Inc. - basic [2] $ (0.13) $ (0.24) $ (0.14) $ (0.38)
Loss per common share attributable to ADTRAN Holdings, Inc. - diluted [2] $ (0.13) $ (0.24) $ (0.14) $ (0.38)
Network Solutions [Member]        
Revenue        
Total Revenue $ 232,898 $ 219,498 $ 470,839 $ 421,715
Cost of Revenue        
Total Cost of Revenue 157,585 147,321 312,233 281,562
Gross Profit 75,313 72,177 158,606 140,153
Services & Support [Member]        
Revenue        
Total Revenue 48,248 45,570 96,393 91,097
Cost of Revenue        
Total Cost of Revenue 19,610 18,823 38,060 37,150
Gross Profit $ 28,638 $ 26,747 $ 58,333 $ 53,947
[1] For the three and six months ended June 30, 2026 we accrued $2.1 million and $4.3 million, respectively, net income attributable to non-controlling interest, representing the recurring cash compensation earned by non-controlling interest shareholders post-DPLTA. For the three and six months ended June 30, 2025, we accrued $2.4 million and $4.8 million, respectively, representing the recurring cash compensation earned by non-controlling interest shareholders post-DPLTA.
[2] Loss per common share attributable to ADTRAN Holdings, Inc. - basic and diluted - reflects a $0.6 million and $0.9 million effect of redemption of RNCI for the three and six months ended June 30, 2026, respectively, and a $1.5 million effect of redemption of RNCI for the three and six months ended June 30, 2025. See Note 15 for additional information.