ADTRAN Holdings, Inc. announced preliminary unaudited results for the fiscal quarter ended June 30, 2026, revealing revenue and margin figures that fell short of previous guidance due to a project delay from a single customer and elevated component and freight costs. Preliminary revenue is expected to be in the range of $280.0 million to $282.0 million, which is below the Company’s previously announced guidance range of $283.0 million to $303.0 million. The company attributes the shortfall to a specific customer delay and an ongoing high-cost environment for components and freight.

The company expects preliminary GAAP operating margin for the second quarter of 2026 to be between (3.2)% and (4.0)%. Preliminary non-GAAP operating margin is expected to be between 3.5% and 4.0%, which is below the previously announced guidance range of 5.0% to 9.0%. ADTRAN Holdings currently expects preliminary GAAP basic and diluted loss per common share attributable to the company to be between $(0.12) and $(0.14). Preliminary non-GAAP basic and diluted earnings per common share are expected to be between $0.03 and $0.05.

Tom Stanton, Chairman and Chief Executive Officer, stated that the preliminary results were directly impacted by the project delay and cost environment. He noted that while these factors affect near-term financial results, they do not alter the underlying business, customer engagement, or strategic priorities. Stanton also expressed encouragement regarding the strength of the optical networking business and the innovation pipeline.

For the third quarter of 2026, the company expects revenue to be within a range of $275.0 million to $295.0 million. Non-GAAP operating margin is projected to be within a range of 1.5% to 5.5%. The company plans to release its final financial results for the second quarter of 2026 after the market close on Monday, August 3, 2026, and will conduct a conference call on Tuesday, August 4, 2026.

Preliminary Financial Results

The following table outlines the preliminary financial expectations for the three months ended June 30, 2026:

ADTRAN Holdings, Inc. has filed a shelf registration to potentially offer and sell a wide range of securities in future offerings. The registration covers common stock, preferred stock, depositary shares, senior and subordinated debt securities, warrants, purchase contracts, and units. The company stated that these securities may be offered separately or together in any combination, with amounts, prices, and terms to be determined at the time of the offering.

The filing indicates that the securities may be sold directly by the company, through agents, or via underwriters and dealers. Additionally, selling securityholders identified in the future may offer and sell the company's securities. Specific details regarding the terms of the securities, the plan of distribution, and compensation for agents or underwriters will be provided in prospectus supplements.

Securities on Offer

The shelf registration allows ADTRAN Holdings, Inc. to offer the following types of securities:

The company may also offer securities issuable upon conversion, redemption, repurchase, exchange, or exercise of any registered securities, including those related to antidilution provisions. The specific terms and conditions of these offerings will be outlined in supplements to the prospectus.