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Condensed Consolidated Statements of Loss (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue    
Total Revenue $ 286,086 $ 247,744
Cost of Revenue    
Total Cost of Revenue 173,098 152,568
Gross Profit 112,988 95,176
Selling, general and administrative expenses 55,836 50,285
Research and development expenses 50,777 48,859
Operating Income (Loss) 6,375 (3,968)
Interest and dividend income 300 126
Interest expense (4,241) (4,761)
Net investment loss (850) (1,686)
Other income, net 1,263 944
Income (Loss) Before Income Taxes 2,847 (9,345)
Income tax (expense) benefit (1,917) 397
Net Income (Loss) 930 (8,948)
Less: Net Income attributable to non-controlling interest [1] 2,251 2,319
Net Loss attributable to ADTRAN Holdings, Inc. $ (1,321) $ (11,267)
Weighted average shares outstanding – basic 80,321 79,534
Weighted average shares outstanding – diluted 80,321 79,534
Loss per common share attributable to ADTRAN Holdings, Inc. - basic [2] $ (0.01) $ (0.14)
Loss per common share attributable to ADTRAN Holdings, Inc. - diluted [2] $ (0.01) $ (0.14)
Network Solutions [Member]    
Revenue    
Total Revenue $ 237,941 $ 202,217
Cost of Revenue    
Total Cost of Revenue 154,648 134,241
Gross Profit 83,293 67,976
Services & Support [Member]    
Revenue    
Total Revenue 48,145 45,527
Cost of Revenue    
Total Cost of Revenue 18,450 18,327
Gross Profit $ 29,695 $ 27,200
[1] For the three months ended March 31, 2026 and 2025 we accrued $2.2 million and $2.4 million, respectively, of net income attributable to non-controlling interest, 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 $0.3 million and a $(3) thousand effect of redemption of RNCI for the three months ended March 31, 2026 and 2025. See Note 15 for additional information.