ADTRAN
Builds access, aggregation, optical networking, and support systems for broadband operators.
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Profile
Supplies fiber access, subscriber networking, optical transport, and support services for communications providers and enterprise networks. The business blends Huntsville-based Adtran access systems with ADVA optical networking, with demand tied to carrier broadband builds, international service providers, and integration after the holding-company reorganization.
Supplies network equipment and software for high-speed connectivity from the network core to the subscriber edge. Network Solutions covers Subscriber Solutions, Access & Aggregation Solutions, and Optical Networking Solutions, while Services & Support adds design, implementation, maintenance, support, and cloud-hosted Mosaic One tools.
Serves communications service providers, fiber overbuilders, utilities, municipalities, cable operators, SMBs, and distributed enterprises. Revenue is international, with meaningful business in the United States, the United Kingdom, and Germany.
Execution depends on fiber-access demand, optical transport roadmaps, carrier customer timing, and trusted-supplier requirements. The current portfolio reflects the ADVA combination and a shift away from copper DSL, fixed wireless access, and IoT gateways.
Company facts
Key statistics
Year to date −11.1% · Average volume (30d) 2.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Craig-Hallum | Target | $12 | |||
| Aug 5, 2026 | Northland Securities | Target | $18 | $15 | ||
| Aug 5, 2026 | Evercore ISI | Target | $11 | |||
| May 6, 2026 | Northland Securities | Target | $13 | $18 | ||
| Apr 9, 2026 | Needham | Target | $14 | $18 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.10 | $0.04 | −58.6% | $290.2M | $281.1M | −3.1% | −1.13% |
| May 5, 2026Q1 FY26 | $0.09 | $0.14 | +55.6% | $285.5M | $286.1M | +0.2% | +2.68% |
| Feb 25, 2026Q4 FY25 | $0.08 | $0.16 | +100.0% | $281.5M | $291.6M | +3.6% | −7.30% |
| Nov 3, 2025Q3 FY25 | $0.06 | $0.05 | −16.7% | $280.7M | $279.4M | −0.5% | −24.16% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $247.7M | $265.1M | $279.4M | $291.6M | $286.1M | $281.1M | |
| Gross profit | $95.2M | $98.9M | $107.1M | $113.7M | $113.0M | $104.0M | |
| Operating income | −$4.0M | −$13.3M | −$2.8M | $4.5M | $6.4M | −$10.1M | |
| Net income | −$11.3M | −$20.5M | −$10.3M | −$3.6M | −$1.3M | −$10.9M | |
| Diluted EPS | −$0.14 | −$0.26 | −$0.13 | −$0.05 | −$0.01 | −$0.13 | |
| Gross margin | 38.4% | 37.3% | 38.3% | 39.0% | 39.5% | 37.0% | |
| Operating margin | -1.6% | -5.0% | -1.0% | 1.5% | 2.2% | -3.6% |
Fiscal years (4-quarter sums)FY21 $563.0M · FY22 $1.03B · FY23 $1.15B · FY24 $922.7M · FY25 $1.08B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $118.3M · Total debt $242.7M · Total assets $1.15B · Shareholders' equity $129.5M
Dividends
Raised for 19 straight years.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 18, 2023 | Aug 21 | Sep 5 | $0.09 | |
| May 22, 2023 | May 23 | Jun 6 | $0.09 | |
| Mar 6, 2023 | Mar 7 | Mar 21 | $0.09 | |
| Nov 21, 2022 | Nov 22 | Dec 6 | $0.09 | |
| Aug 17, 2022 | Aug 18 | Sep 1 | $0.09 | |
| May 18, 2022 | May 19 | Jun 2 | $0.09 | |
| Feb 16, 2022 | Feb 17 | Mar 3 | $0.09 | |
| Nov 15, 2021 | Nov 16 | Nov 30 | $0.09 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 81.00M · Float 79.43M · 98.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 7.84M | 9.67% | 13F | Aug 7, 2026 |
| EGORA Ventures AG (f/k/a EGORA Holding GmbH) | 5.36M | 6.73% | 13G | Mar 6, 2025 |
| Vanguard Portfolio Management LLC | 5.14M | 6.34% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 3.51M | 4.33% | 13F | Aug 13, 2026 |
| State Street Corp | 3.08M | 3.81% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 6, 2026 | Timothy P. Santo | officer: SVP of Finance; CFO | +6,579 | $7.60 |
| May 20, 2026 | James Denson Jr Wilson | officer: Chief Revenue Officer | −9,332 | $14.72 |
| May 7, 2026 | Christoph Glingener | officer: Chief Technology Officer | −126,115 | $14.95 |
| May 8, 2026 | Christoph Glingener | officer: Chief Technology Officer | −22,277 | $15.00 |
| Mar 4, 2026 | Hourigan Rice Jacqueline | director | −14,406 | $10.29 |
Peers
- Nokia (ADR)
Broad rival across fiber access, aggregation, and optical transport
- Calix
Fiber-access and cloud platform rival for broadband providers
- Ciena
Optical-networking leader with growing broadband-access overlap
- Cisco Systems
Routed optical and carrier IP overlap in transport networks
- Ribbon Communications
IP optical networking peer for service providers and critical networks
- Harmonic
Cable and fiber broadband-access rival through cOS
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| ADTRAN | $7.81 | +1.23% | $625.3M | — | 21.7 | 0.5 | +6.1% |
| Nokia (ADR) | $10.18 | −0.29% | $55.14B | 71.4 | 24.3 | 2.5 | +2.3% |
| Calix | $37.39 | −0.24% | $2.36B | 48.7 | 19.6 | 2.1 | +21.3% |
| Ciena | $379.00 | +0.24% | $53.57B | 126.1 | 48.3 | 9.6 | +39.5% |
| Cisco Systems | $109.95 | +0.01% | $433.28B | 33.0 | 21.4 | 6.8 | +17.6% |
| Ribbon Communications | $2.03 | +0.25% | $363.0M | 24.9 | 14.5 | 0.5 | −12.8% |
| Harmonic | $12.02 | +0.07% | $1.30B | — | 17.7 | 2.6 | −3.3% |
| Median | 48.7 | 20.5 | 2.6 | +9.9% |