ADTRAN Q1 GAAP net loss $324.6M on goodwill impairment; revenue above guidance midpoint

ADTRAN Holdings, Inc.

2024-Q1 EPS reported -$4.12 revenue$226,173,000

GAAP net loss $324.6M ($4.12 diluted EPS); includes non-cash goodwill impairment.
Revenue above Q1 guidance midpoint; non-GAAP operating margin -3.9% within guidance of -7% to 0%.
GAAP gross margin 31.9% (improved 484 bps YoY); non-GAAP gross margin 41.6% (improved 429 bps YoY).
Sequential GAAP operating cash flow improved $53M; inventory reduction from Business Efficiency Program.
CEO cites continued customer win rate momentum and Mosaic One platform expansion; expects margins to expand as markets normalize.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADTRAN Holdings, Inc. reported first quarter of 2024 results: net income GAAP net loss attributable to the Company for the first quarter of 2024, including the above mentioned impairment charge, EPS Diluted loss per share attributable to the Company for the first quarter was $4.12. Guidance reaffirmed.

Period: first quarter of 2024
Net income: GAAP net loss attributable to the Company for the first quarter of 2024, including the above mentioned impairment charge
EPS: Diluted loss per share attributable to the Company for the first quarter was $4.12
Guidance: reaffirmed
Result: reported results

Exact text from the filing

GAAP net loss attributable to the Company for the first quarter of 2024, including the above mentioned impairment charge, was $324.6 million. Diluted loss per share attributable to the Company for the first quarter was $4.12.

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Source: SEC EDGAR

accession 0000950170-24-053920

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