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Adtran Holdings (ADTN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Adtran Holdings (ADTN) Q3 2026 earnings results →
Q3 2026 Revenue up 1% year over year to $281M · 3¢ of every $1 of revenue lost · operating margin -0.3%
Adtran Holdings made $281M in Q3 2026 (+0.6% Y/Y): Network Solutions $231M, Services and Support $49.9M. Operating margin -0.3%, net loss $7.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $281.2M in Q3 2026, up 1% year over year and roughly flat from the previous quarter. Network Solutions was the largest line at 82% of revenue. Services and Support added $3.1M year over year (up 7%), 176% of the total change. Network Solutions declined 1%.
Gross margin was 38.5%, up 0.2 points from Q3 2025. Operating costs exceeded revenue by $754K, an operating margin of -0.3%. Operating expenses fell 1% while revenue rose 1%. The quarter ended with a net loss of $7.1M, narrower than the previous quarter's $8.7M loss. Net interest and other expense of $3.8M was the main reason.
Operating cash flow was −$24.5M. Non-cash charges added back $26.2M of depreciation and amortization and $3.0M of share-based compensation. Working capital and other items used $46.5M. Capital expenditures of $5.8M exceeded it, leaving free cash flow of −$30.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $281M | +0.6% | -0.3% | −$7.1M | −$24.5M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $281M | +6% | -3.6% | −$8.7M | $25.9M |
| Q1 2026 | 10-Q | May 5, 2026 | $286M | +16% | 2.2% | $930K | $12.7M |
| Q4 2025 | 10-K | Feb 26, 2026 | $292M | +20% | 1.5% | −$1.3M | $42.2M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $279M | +23% | -1.0% | −$7.8M | $12.2M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $265M | +17% | -5.0% | −$18.3M | $32.2M |
| Q1 2025 | 10-Q | May 20, 2025 | $248M | +10% | -1.6% | −$8.9M | $43.2M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Adtran Holdings
ADTRAN Holdings, Inc. (“Adtran” or the “Company”) is a leading global provider of networking and communications platforms, software, systems and services focused on the metro optical transport, data center interconnect, and broadband access market, serving a diverse domestic and international customer base in multiple countries that includes large, medium and small Service Providers, alternative Service Providers, such as utilities, municipalities and fiber overbuilders, cable/MSOs, SMBs and distributed enterprises, including Fortune 500 companies with sophisticated business continuity applications; hyper-scalers, neocloud and content providers and data center companies; and federal, state and local government agencies.
In its own words, from its 10-K, filed Feb 26, 2026.
Adtran Holdings against its Telephone & Telegraph Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.6% against the peers' median +37%. Operating margin: -0.3% against the peers' median 9.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ADTN Adtran Holdings | Q3 2026 | $281M | +0.6% | -0.3% |
| CIEN Ciena | Q3 FY26 | $1.7B | +37% | 18.0% |
| FN Fabrinet | Q1 FY27 | $1.5B | +51% | 9.9% |
| CLFD Clearfield | Q3 FY26 | $43.9M | +13% | 5.9% |
| FKWL Franklin Wireless | Q4 FY26 | $8.4M | +21% | -21.5% |
| FIEE FiEE | Q2 2026 | $4.8M | 107× | 54.8% |
Source: Adtran Holdings 10-Q on SEC EDGAR · CIK 926282 · Telephone & Telegraph Apparatus
Guidance and outlook
13F: who owns ADTN and who is buying
More on ADTN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results