Highest-materiality recent filing
Adtran appoints Anne DelSanto to board effective July 1, 2026
Board increased from 6 to 7 directors; DelSanto elected as independent member.
ADTN stockholders approve charter amendment to limit officer liability, elect directors
Charter amendment to limit officer liability as permitted by Delaware law passed: 49.8M for, 3.2M against.
ADTRAN Q1 revenue $286.1M (+15.5% YoY); non-GAAP EPS $0.14; guides Q2 rev $283-303M
Revenue $286.1M (+15.5% YoY); GAAP diluted loss $0.01; non-GAAP diluted EPS $0.14.
CEO Stanton's amended agreement eliminates annual market-based PSU and adjusts long-term plan to include TSR modifier on Adjusted EBIT target.
Adtran Q4 revenue $291.6M (+20.1% YoY), beats guidance; non-GAAP EPS $0.16
Q4 revenue $291.6M, +20.1% YoY; GAAP diluted loss per share $0.02, non-GAAP diluted EPS $0.16.
ADTRAN preliminary Q4 revenue $290-293M beats guidance; non-GAAP EPS above consensus
Preliminary Q4 revenue $290-293M, above guidance of $275-285M.
ADTRAN extends CTO Glingener contract to Dec 2026; base salary raised to €400k
Term extended to Dec 31, 2026; base salary increased to €400,000 effective Oct 1, 2025.
ADTRAN Q3 revenue $279.4M (+23% YoY); non-GAAP EPS $0.05; guides Q4 rev $275-285M
Revenue $279.4M, up 23% YoY; GAAP gross margin 38.3%, non-GAAP 42.1%.
ADTRAN issues $201.25M of 3.75% convertible notes due 2030, enters capped call transactions
Issued $201.25M aggregate principal of 3.75% convertible senior notes due Sept 15, 2030; includes full $26.25M greenshoe exercise.
Upsized from $150M to $175M; initial purchasers have option for additional $26.25M.
ADTRAN Q2 rev $265.1M (+17% YoY); guides Q3 rev $270-280M, non-GAAP op margin 3-7%
Revenue $265.1M, up 17% YoY; GAAP gross margin 37.3%, non-GAAP 41.4%.
All seven director nominees elected; Balan Nair received most opposition (41.6M for, 13.4M against).
ADTRAN pre-announces Q2 2025 revenue $262.5M-$267.5M, above guidance
Preliminary Q2 2025 revenue $262.5M-$267.5M, 0-2% above prior guidance upper end of $262.5M.
ADTRAN preliminary Q2 revenue $262.5M-$267.5M, above prior guidance range
Preliminary Q2 revenue $262.5M-$267.5M, exceeding guidance of $247.5M-$262.5M.
ADTRAN Holdings restates 2024 and 2023 financials; updates Q1 2025 non-GAAP measures
Restated consolidated financial statements for fiscal years 2024 and 2023 and interim periods in 2024.
ADTRAN Holdings reschedules 2025 annual meeting to July 24; prior proxies disregarded
Annual meeting now July 24, 2025; new record date is May 29, 2025.
ADTRAN Holdings restates FY23/FY24 results; €5.7M inventory error; annual meeting postponed
Audit Committee concludes 2023 and 2024 annual and interim financials should no longer be relied upon due to inventory adjustment.
ADTN enters Fifth Amendment waiving defaults, reducing credit line to $350M
Fifth Amendment waives existing events of default from inaccurate financials for Q2/Q3 2024 and covenant breaches.
ADTRAN Q1 revenue $247.7M (+10% YoY); non-GAAP EPS $0.03, GAAP loss $0.13
Revenue $247.7M, up 10% YoY and above midpoint of Q1 outlook; GAAP gross margin 38.5%, non-GAAP 42.6%.
Adtran Networks SE revises 2024 loss to EUR 10.2M from previously reported EUR 4.5M loss
Inventory adjustment increased cost of goods sold, widening EBIT loss by EUR 5.7M.
ADTRAN Holdings appoints Timothy Santo as CFO; Ulrich Dopfer transitions to new role
Timothy Santo named CFO, effective March 10, 2025; annual base salary of $460,000 plus bonus and equity grants.
ADTRAN Q4 revenue $242.9M (+7% seq); GAAP EPS -$0.58, non-GAAP EPS $0.00
Q4 2024 revenue $242.9M, above mid-point of outlook; GAAP gross margin 37.6%, non-GAAP 42.0%.
ADTN Q3 revenue $227.7M, above guidance midpoint; non-GAAP op margin positive 1.1%
GAAP diluted loss per share $0.36; non-GAAP diluted loss per share $0.05.
Extension of employment for CFO Ulrich Dopfer and CTO Christoph Glingener to Dec 31, 2025.
ADTRAN Q2 revenue $226M, GAAP net loss $49.9M ($0.63/share); Q3 rev guidance $215-235M
Revenue $226M; GAAP gross margin 36.1%, non-GAAP 41.9%.
ADTRAN board member Brian Protiva resigns effective July 31, 2024
Brian Protiva resigned from the Board of Directors on July 31, 2024.
ADTRAN amends credit facility, adds $100M subline for German unit, relaxes cash covenant
Created a $100M subline under existing $400M revolver for German subsidiary Adtran Networks SE.
ADTRAN stockholders approve 2024 employee and director equity plans, elect directors
Approved 2024 Employee Stock Incentive Plan authorizing 3,970,058 shares (59,142,398 for, 2,150,645 against).
ADTRAN Q1 GAAP net loss $324.6M on goodwill impairment; revenue above guidance midpoint
GAAP net loss $324.6M ($4.12 diluted EPS); includes non-cash goodwill impairment.
ADTRAN expects $293M Q1 2024 goodwill impairment in Network Solutions segment
Non-cash goodwill impairment of $293M for Network Solutions segment in Q1 2024.
ADTRAN to close Greifswald, Germany facility; expects $13.5M-$18.4M in costs
Facility closure part of previously announced Business Efficiency Program; to be completed by June 30, 2024.
ADTRAN finalizes FY2023 results with net loss of $259M; balance sheet reclassifications
FY2023 revenue $1.149B, net loss $259.3M ($3.41 diluted EPS); Q4 revenue $225.5M, net loss $107.0M ($1.40 EPS).
Adtran Q4 prelim: GAAP net loss $109.9M, non-GAAP EPS -$1.09
Preliminary Q4 revenue $225.5M; non-GAAP operating margin -1.4% (upper end of -7% to 0% guidance).
ADTRAN restates Q1-Q3 2023 results; net loss understated by up to $17.2M, EPS cut by up to $0.22
Audit Committee concludes non-reliance on Q1, Q2, Q3 2023 financials due to misattribution of non-controlling interest.
ADTRAN amends credit agreement: covenant headroom through Q3 2024, leverage cap raised to 5.00x
Consolidated total net leverage ratio may not exceed 5.00x starting Q4 2023 through Q3 2024 covenant relief period.
Ronald Centis, SVP of Services, departs effective December 15, 2023.
ADTRAN Holdings temporarily cuts CEO salary by 50%, other execs by 25%
CEO Thomas Stanton's base salary reduced 50%; CRO Wilson, CFO Dopfer, CTO Glingener, and NEO Harris reduced 25%.
ADTRAN Q3 revenue $272.3M, net loss $0.93; suspends dividend, Q4 guidance well below consensus
GAAP revenue $272.3M, below guidance; GAAP net loss $72.7M ($0.93 diluted loss per share).
Adtran Holdings adopts clawback policy and amends bylaws to comply with SEC/Nasdaq rules
New clawback policy requires recovery of erroneously awarded incentive compensation from executive officers if an accounting restatement occurs, effective Oct 2, 2023.
ADTRAN Q3 rev $272.3M misses $275-305M guidance; GAAP op margin -30.2%
Preliminary Q3 revenue $272.3M, below guidance range $275-305M, primarily due to stronger USD.
Director Johanna Hey resigns from ADTRAN Holdings board effective Sept 30, 2023
Johanna Hey notified the Board on Sept 25, 2023 of her resignation effective Sept 30, 2023.
ADTRAN corrects balance sheet classification of $200M revolver and cash flow lease disclosure
Revolving credit facility reclassified from current to noncurrent: $60M as of Dec 31, 2022 and $200M as of June 30, 2023.
ADTRAN corrects ex-dividend date to Aug 18, 2023; dividend amount unchanged
Ex-dividend date changed from Aug 20 to Aug 18, 2023 for Q2 cash dividend of $0.09/share.
ADTRAN restates prior financials due to debt misclassification; material weakness identified
Misclassification of $60M (Sep'22, Dec'22) and $180M (Mar'23) revolving credit facility balances from current to noncurrent liabilities.
ADTRAN Q2 revenue $327.4M (+90% YoY), net loss $33.3M; Q3 guidance well below consensus
Q2 GAAP revenue $327.4M, up 90% YoY; net loss $33.3M, diluted EPS -$0.43.
CFO Michael Foliano retires; consulting deal at $220/hr plus RSU acceleration and option extension
Michael Foliano retired as SVP Finance and CFO effective June 28, 2023.
ADTRAN extends CFO Dopfer's contract to Dec 2024, sets new compensation for CEO Glingener
CFO Ulrich Dopfer's employment extended through Dec 31, 2024; annual base salary set at $410,000 starting May 1, 2023.
ADVA CEO Christoph Glingener to step down; Thomas Stanton to assume role July 1, 2023
Christoph Glingener steps down as CEO of ADVA effective June 30, 2023; returns to CTO of ADVA and remains CTO of ADTRAN Holdings.
ADTRAN Holdings shareholders reject advisory say-on-pay resolution at 2023 annual meeting
Advisory vote on NEO compensation failed: 28.17M for, 32.28M against, 0.90M abstain.
ADTRAN Q1 2023 revenue $323.9M, net loss $34.5M ($0.44 diluted EPS)
Revenue $323.9M; GAAP net loss $34.5M ($0.44 EPS); non-GAAP net loss $5.0M ($0.06 EPS).
voted unanimously to increase the size of the Board from six (6) to seven (7) directors and to elect Anne DelSanto to fill the vacancy created by the increase in the size of the Board, effective as of July 1, 2026
On March 6, 2025, ADTRAN Holdings, Inc. (the “Company”) announced the appointment of Mr. Timothy Santo as Senior Vice President of Finance and Chief Financial Officer of the Company, effective as of Mr. Santo’s employment start date, which is expected to be March 10, 2025.
In connection with Mr. Santo’s appointment, on March 6, 2025, the Company and Ulrich Dopfer, Senior Vice President of Finance and Chief Financial Officer of the Company, agreed that Mr. Dopfer will no longer serve as the Company’s Chief Financial Officer, Secretary, Treasurer and principal accounting officer, effective March 10, 2025.
On July 31, 2024, Mr. Brian Protiva notified ADTRAN Holdings, Inc. (the “Company”) of his resignation from his role as a member of the Company’s Board of Directors (the “Board”), effective immediately.
Mr. Ronald D. Centis, Senior Vice President of Services and a named executive officer of the Company (as identified in the Company’s definitive proxy statement on Schedule 14A filed on March 28, 2023), will depart from the Company, effective December 15, 2023 (the “ Separation Date ”).
On September 25, 2023, Johanna Hey notified the Board of Directors (the “Board”) of ADTRAN Holdings, Inc. (the “Company”) of her intent to resign from her role as a director of the Company, effective as of September 30, 2023, for family and medical reasons.
Michael Foliano, the former Senior Vice President of Finance and Chief Financial Officer of the Company, notified the Company of his intent to retire, effective June 28, 2023
Thomas Stanton, President and CEO of the Company, will assume the position of CEO of ADVA effective July 1, 2023.
Christoph Glingener, Chief Technology Officer of the Company, will step down as Chief Executive Officer (“CEO”) of ADVA effective June 30, 2023, at which time he will transition to his previous role of Chief Technology Officer (“CTO”) of ADVA.
On March 27, 2023, Michael Foliano, Senior Vice President of Finance and Chief Financial Officer of ADTRAN Holdings, Inc. (the “Company”), notified the Company of his intent to retire from the Company, effective June 28, 2023
on March 27, 2023, the Board of Directors of the Company appointed Ulrich Dopfer as Chief Financial Officer of the Company, effective May 1, 2023
Mr. Protiva would resign as Chief Executive Officer ("CEO") of ADVA and as a member of the management board of ADVA effective August 31, 2022,
Max materiality 0.90 · Median 0.65 · Most common event earnings