Adtran Holdings, Inc. income statement
In fiscal 2025, Adtran Holdings, Inc. reported revenue of $1.08bn, up 17.5% on the year before, operating income of −$15.6m (a -1.4% margin) and net income of −$45.7m, or −$0.52 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 484 | 606 | 717 | 621 | 642 | 630 | 600 | 637 | 667 | 529 | 530 | 507 | 563 | 1,026 | 1,149 | 923 | 1,084 | 1,138 |
| Cost of revenue | 197 | 247 | 303 | 304 | 333 | 319 | 333 | 345 | 363 | 326 | 311 | 289 | 345 | 698 | 818 | 599 | 669 | 700 |
| Gross profit | 287 | 359 | 414 | 317 | 309 | 311 | 267 | 291 | 304 | 204 | 219 | 218 | 218 | 327 | 331 | 324 | 415 | 438 |
| Research and development | 83 | 90 | 100 | 126 | 131 | 132 | 130 | 125 | 131 | 125 | 126 | 113 | 109 | 174 | 258 | 221 | 204 | 208 |
| Selling, general and administrative | 99 | 115 | 125 | 135 | 129 | 132 | 124 | 132 | 136 | 124 | 130 | 114 | 124 | 209 | 259 | 233 | 226 | 232 |
| Operating income | 104 | 154 | 189 | 56 | 48 | 47 | 13 | 35 | 37 | −45 | −40 | −10 | −15 | −73 | −224 | −428 | −16 | −2 |
| Interest expense | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 3 | 16 | 22 | 19 | 18 |
| Income before tax | 108 | 168 | 206 | 73 | 61 | 60 | 26 | 47 | 45 | −33 | −25 | −6 | −6 | −71 | −234 | −443 | −31 | −10 |
| Income tax | 33 | 54 | 68 | 26 | 15 | 15 | 7 | 12 | 21 | −14 | 28 | −9 | 2 | −62 | 28 | 7 | 5 | 7 |
| Net income | 74 | 114 | 139 | 47 | 46 | 45 | 19 | 35 | 24 | −19 | −53 | 2 | −9 | −2 | −269 | −460 | −46 | −26 |
| Diluted EPS | $1.17 | $1.78 | $2.12 | $0.74 | $0.77 | $0.80 | $0.36 | $0.72 | $0.49 | −$0.40 | −$1.11 | $0.05 | −$0.18 | −$0.03 | −$3.43 | −$5.79 | −$0.52 | −$0.33 |
| Diluted shares (average) | 63m | 64m | 65m | 64m | 59m | 55m | 51m | 49m | 49m | 48m | 48m | 48m | 49m | 62m | 78m | 79m | 80m | 80m |
| EBITDA | 114 | 164 | 201 | 70 | 63 | 62 | 28 | 49 | 53 | −30 | −22 | 7 | 1 | −5 | −111 | −337 | 77 | 63 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 228 | 243 | 248 | 265 | 279 | 292 | 286 | 281 |
| Cost of revenue | 145 | 153 | 153 | 166 | 172 | 178 | 173 | 177 |
| Gross profit | 83 | 90 | 95 | 99 | 107 | 114 | 113 | 104 |
| Research and development | 52 | 49 | 49 | 52 | 52 | 52 | 51 | 54 |
| Selling, general and administrative | 58 | 57 | 50 | 60 | 58 | 57 | 56 | 60 |
| Operating income | −26 | −17 | −4 | −13 | −3 | 4 | 6 | −10 |
| Interest expense | 6 | 5 | 5 | 5 | 5 | 5 | 4 | 4 |
| Income before tax | −31 | −20 | −9 | −17 | −7 | 2 | 3 | −8 |
| Income tax | 0 | 23 | −0 | 1 | 1 | 3 | 2 | 1 |
| Net income | −33 | −46 | −11 | −21 | −10 | −4 | −1 | −11 |
| Diluted EPS | −$0.38 | −$0.58 | −$0.14 | −$0.24 | −$0.12 | −$0.02 | −$0.01 | −$0.13 |
| EBITDA | −19 | 6 | 18 | −6 | 5 | 29 | 31 | −2 |
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