Company Summary: ADTRAN Holdings, Inc.

Overview

ADTRAN Holdings, Inc. is a leading global provider of networking and communications infrastructure, software, systems, and services. The company focuses on metro optical transport, data center interconnect, broadband access, and fiber-based networks supporting a diverse range of customers worldwide.

Business Segments

• Network Solutions: Hardware and software products for subscriber access, fiber access and aggregation, optical transport, and network synchronization. Examples include fiber termination solutions, Ethernet switches, and SaaS applications like Mosaic One.
• Services & Support: Design, deployment, maintenance, and cloud-hosted services including end-to-end network management, professional services, and SaaS applications under the Mosaic One platform.

Revenue Breakdown

• Total Revenue (2024): $922.7 million
  • Network Solutions: 80.1% of total revenue
  • Services & Support: 19.9% of total revenue
• Revenue Trends:
  • Revenue declined 19.7% year-over-year from 2023 to 2024 due to customer inventory reductions and macroeconomic conditions.
  • Domestic revenue in 2024 was $398.2 million.
  • International revenue was $524.6 million (56.8% of total), down 23.8% from 2023.

Customers

• In 2024, one customer accounted for more than 10% of total revenue, an international Service Provider.
• The top 5 largest customers (including the one over 10%) made up approximately 21.7% of revenue.
• Revenue also heavily relies on customers in the U.S., U.K., and Germany.

Employees

• Total Employees: 3,234 (as of December 31, 2024)
  • Full-Time Employees: 3,091
  • Part-Time Employees: 143
• International Presence: Employees in North America, Latin America, EMEA, and APAC regions.
• Employee Diversity:
  • 76% of Adtran GmbH (Germany) employees are under collective bargaining agreements.
  • 94 employees are based in Switzerland, France, Italy, Finland, and Spain.
  • The company emphasizes diversity, equity, and inclusion.

Financial Highlights

• Net Loss (2024): 49.8% of revenue
• Adjusted for restatements, the company experienced significant impairments, including a $297.4 million non-cash goodwill impairment in March 2024 for its Network Solutions segment.
• The company has high leverage with $189.6 million in borrowings as of December 31, 2024, primarily under a credit facility maturing in July 2027.
• The company suspended quarterly dividends since November 2023 as part of debt and cost-reduction efforts.

Operational Focus

The company develops and offers a broad portfolio of fiber and broadband infrastructure solutions supporting the transition to converged, high-capacity, fiber-based networks. It focuses on innovation, expanding into high-speed connectivity markets including 5G, data center interconnects, and enterprise solutions.

This summary presents a detailed, factual overview of ADTRAN Holdings, Inc. based solely on the provided information.