ADTRAN Holdings, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $1.1B | $922.7M | $1.1B | $1.0B | $563.0M |
| Cost of revenue | $668.9M | $598.6M | $818.0M | $698.3M | $344.6M |
| Gross profit | $415.0M | $324.2M | $331.1M | $327.3M | $218.4M |
| Selling, general & administrative | $226.3M | $232.9M | $258.6M | $208.9M | $124.4M |
| Research and development | $204.3M | $221.5M | $258.3M | $173.8M | $108.7M |
| Operating income | -$15.6M | -$427.6M | -$223.7M | -$72.8M | -$14.7M |
| Interest expense | $19.3M | $22.1M | $16.3M | $3.4M | $34,000 |
| Pretax income | -$31.2M | -$442.7M | -$233.6M | -$71.0M | -$6.3M |
| Income tax expense | $5.0M | $7.3M | $28.3M | -$62.1M | $2.3M |
| Net income | -$45.7M | -$459.9M | -$268.9M | -$2.0M | -$8.6M |
| Balance Sheet | |||||
| Cash and equivalents | $95.7M | $76.0M | $87.2M | $108.6M | $56.6M |
| Current assets | $635.2M | $599.1M | $719.0M | $882.4M | $376.3M |
| Total assets | $1.2B | $1.2B | $1.7B | $1.9B | $569.0M |
| Current liabilities | $361.9M | $293.5M | $274.0M | $428.6M | $155.4M |
| Total liabilities | $685.3M | $621.5M | $628.9M | $639.9M | $211.9M |
| Stockholders' equity | $145.8M | $127.0M | $605.3M | $1.3B | $357.1M |
| Cash Flow Statement | |||||
| Cash from operations | $129.8M | $103.6M | -$43.0M | -$44.2M | $3.0M |
| Depreciation and amortization | $92.5M | $90.5M | $112.9M | $67.6M | $16.1M |
| Stock-based compensation | $10.1M | $16.0M | $16.4M | $28.3M | $7.5M |
| Capital expenditure | $31.7M | $34.5M | $36.3M | $17.1M | $5.7M |
| Free cash flow | $98.0M | $69.1M | -$79.4M | -$61.3M | -$2.7M |
| Dividends paid | — | $0 | $21.2M | $22.9M | $17.5M |
| Impairments | $0 | $297.4M | $37.9M | $17.4M | $0 |
Shares outstanding 81.0M · Free float 83.4%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.