ADTRAN expects $293M Q1 2024 goodwill impairment in Network Solutions segment

ADTRAN Holdings, Inc.

Non-cash goodwill impairment of $293M for Network Solutions segment in Q1 2024.
Impairment triggered by decline in market cap, cautious spending, and inventory adjustments.
Increases GAAP operating loss but has no impact on cash flow or non-GAAP operating margin.
No effect on credit agreement covenants or GAAP revenue guidance.
Determined after quantitative impairment assessment of goodwill carrying value.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADTRAN Holdings, Inc. reported preliminary financial results for first quarter of 2024.

Period: first quarter of 2024
Result: preliminary results

Exact text from the filing

ADTRAN Holdings, Inc.: Non-cash goodwill impairment for the first quarter 2024 in an estimated amount of $293 million

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ADTRAN Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-130896

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