ADTRAN has announced its financial results for the second quarter of 2024, reporting revenue of $226.0 million. The company experienced growth in its customer base across the U.S. and Europe, driven by increased adoption of its latest fiber networking solutions. While the company saw improvements in key operating metrics, challenges remained in profitability. The GAAP gross margin stood at 36.1%, while the non-GAAP gross margin was higher at 41.9%. However, the company reported a GAAP net loss of $49.9 million, translating to a GAAP diluted loss per share of $0.63.
Looking ahead, ADTRAN Holdings provided guidance for the third quarter of 2024, with expected revenue ranging between $215 million and $235 million. The company anticipates a non-GAAP operating margin between -1% and +3%, reflecting ongoing efforts to improve profitability despite a challenging market environment.
- Revenue: $226.0 million in Q2 2024.
- Gross Margin: 36.1% GAAP, 41.9%
- Non-GAAP. Operating Margin: -17.0%
- GAAP, 0.7% Non-GAAP.
- Net Loss: $49.9 million GAAP, $18.8 million Non-GAAP.
- Earnings Per Share: GAAP loss of $0.63 per share, Non-GAAP loss of $0.24 per share.
- Q3 2024 Outlook: Revenue expected between $215 million and $235 million;
- Non-GAAP operating margin projected between -1% and +3%.
- ADTRAN 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”.