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ADTRAN Holdings, Inc. reports second quarter 2024 financial results
HUNTSVILLE, Ala.--(BUSINESS WIRE)-- ADTRAN Holdings, Inc. (NASDAQ: ADTN and FSE: QH9) (“ADTRAN Holdings” or the “Company”) today announced its unaudited
About this update from Adtran Holdings, Inc.
[{"type":"text","content":" HUNTSVILLE, Ala.--(BUSINESS WIRE)--\nADTRAN Holdings, Inc. (NASDAQ: ADTN and FSE: QH9) (“ADTRAN Holdings” or the “Company”) today announced its unaudited financial results for the second quarter of 2024.\n\n\n\nRevenue: $226.0 million\n\n\n\nGross margin:\n\n\nGAAP gross margin: 36.1%; Non-GAAP gross margin: 41.9%\n\n\n\n\n\n\nOperating margin:\n\n\nGAAP operating margin negative 17.0%; Non-GAAP operating margin positive 0.7%\n\n\n\n\n\n\nNet Income (Loss):\n\n\nGAAP net loss attributable to the Company: $49.9 million; Non-GAAP net loss attributable to the Company: $18.8 million\n\n\n\n\n\n\nEarnings (Loss) per share:\n\n\nGAAP diluted loss per share attributable to the Company: $0.63; Non-GAAP diluted loss per share attributable to the Company: $0.24.\n\n\n\n\n\n\nADTRAN Holdings’ Chairman and Chief Executive Officer Tom Stanton stated, \"We had a solid second quarter, during which we saw improvements across all our major operating metrics, including profitability and working capital. During the quarter, we saw growth in our customer base across the U.S. and Europe as customers continue to adopt our latest fiber networking solutions”.\n\n\nFor the third quarter of 2024, the Company expects revenue in a range of $215million to $235million. Non-GAAP operating margin is expected in a range of -1% to +3%.\n\n\nFurthermore, non-GAAP operating margin (which is calculated as non-GAAP operating loss divided by revenue) is a non-GAAP financial measure. The Company has provided third quarter guidance with regard to non-GAAP operating margin. This measure excludes from the corresponding GAAP financial measure the effect of adjustments as described below. The Company has not provided a reconciliation of such non-GAAP guidance to guidance presented on a GAAP basis because it cannot predict and quantify without unreasonable effort all of the adjustments that may occur during the period due to the difficulty of predicting the timing and amounts of various items within a reasonable range. In particular, non-GAAP operating margin excludes certain items, including continued restructuring and integration expenses that will continue to evolve as our business efficiency program is implemented, that the Company is unable to quantitatively predict. Depending on the materiality of these items, they could have a significant impact on the Company's GAA...