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Condensed Consolidated Statements of Loss (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2024
Revenue      
Total Revenue $ 265,068,000 $ 225,991,000 $ 452,164,000
Cost of Revenue      
Total Cost of Revenue 166,144,000 144,732,000 300,590,000
Gross Profit 98,924,000 81,259,000 151,574,000
Selling, general and administrative expenses 60,347,000 59,364,000 118,355,000
Research and development expenses 51,895,000 60,352,000 120,567,000
Goodwill impairment 0 0 297,353,000
Operating Loss (13,318,000) (38,457,000) (384,701,000)
Interest and dividend income 201,000 366,000 763,000
Interest expense (4,564,000) (6,906,000) (11,504,000)
Net investment gain 3,075,000 872,000 3,125,000
Other (expense) income, net (2,636,000) (901,000) 409,000
Loss Before Income Taxes (17,242,000) (45,026,000) (391,908,000)
Income tax (expense) benefit (1,016,000) (2,136,000) 16,511,000
Net Loss (18,258,000) (47,162,000) (375,397,000)
Less: Net Income attributable to non-controlling interest [1] 2,273,000 2,505,000 5,035,000
Net Loss attributable to ADTRAN Holdings, Inc. $ (20,531,000) $ (49,667,000) $ (380,432,000)
Weighted average shares outstanding – basic 79,748 78,852 78,803
Weighted average shares outstanding – diluted 79,748 78,852 78,803
Loss per common share attributable to ADTRAN Holdings, Inc. - basic [2] $ (0.24) $ (0.63) $ (4.83)
Loss per common share attributable to ADTRAN Holdings, Inc. - diluted [2] $ (0.24) $ (0.63) $ (4.83)
Network Solutions [Member]      
Revenue      
Total Revenue $ 219,498,000 $ 179,194,000 $ 360,467,000
Cost of Revenue      
Total Cost of Revenue 147,321,000 124,773,000 253,039,000
Gross Profit 72,177,000 54,278,000 98,503,000
Network Solutions - Charges and Inventory Write-Down [Member]      
Cost of Revenue      
Total Cost of Revenue 0 143,000 8,925,000
Services & Support [Member]      
Revenue      
Total Revenue 45,570,000 46,797,000 91,697,000
Cost of Revenue      
Total Cost of Revenue 18,823,000 19,816,000 38,626,000
Gross Profit $ 26,747,000 $ 26,981,000 $ 53,071,000
[1] For the three and six months ended June 30, 2025 we accrued $2.4 million and $4.8 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, 2024, we accrued $2.5 million and $5.0 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 $1.5 million effect of redemption of RNCI for the three and six months ended June 30, 2025. See Note 14 for additional information.