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Adtran Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$30.2M in Q3 2026 · $22.5M over twelve months

Operating cash flow−$24.5M
Capital spending−$5.8M
Free cash flow−$30.2M
Cash conversion cycle95 days

Analysis

In Q3 2026, Adtran Holdings generated −$24.5M of operating cash flow and spent $5.8M on capital projects, leaving free cash flow of −$30.2M. That is $34.4M less than in Q3 2025 ($4.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $56.4M; the largest uses were partners ($59.1M), capital spending ($33.9M), other investing ($33.7M); besides operations, cash came from net borrowing (+) / repaid (−) ($58.0M), shares issued ($7.1M); the cash balance fell by $29.5M.

Operating cash flow was −$24.5M against net income of −$7.1M. The largest differences: receivables −$31.7M, depreciation & amortization +$26.2M, inventory −$22.1M.

Its cash conversion cycle was 95 days (receivables 72 + inventory 116 − payables 93).

Free cash flow

Adtran Holdings: free cash flow by quarterAdtran Holdings: free cash flow by quarter−$895KQ4 2024$35.8MQ1 2025$27.5MQ2 2025$4.2MQ3 2025$30.6MQ4 2025$5.2MQ1 2026$17.0MQ2 2026−$30.2MQ3 2026
Operating cash flow less capital spending.
Adtran Holdings: operating cash flow against capital spendingAdtran Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$2.4M$3.3MQ4 2024$43.2M$7.4MQ1 2025$32.2M$4.7MQ2 2025$12.2M$8.0MQ3 2025$42.2M$11.7MQ4 2025$12.7M$7.5MQ1 2026$25.9M$8.9MQ2 2026−$24.5M$5.8MQ3 2026
Latest (Q3 2026): Operating cash flow −$24.5M, Capital spending $5.8M.

Capital allocation, year by year

Adtran Holdings: where the cash came from (up) and went (down), by fiscal yearAdtran Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $3.0MFY2021: Shares issued $6.4MFY2021: Capital spending −$5.7MFY2021: Dividends −$17.5M$9.4MFY2021FY2022: Operating cash flow −$44.2MFY2022: Net borrowing $76.2MFY2022: Shares issued $6.9MFY2022: Asset sales $12KFY2022: Capital spending −$17.1MFY2022: Dividends −$22.9M$83.1MFY2022FY2023: Operating cash flow −$43.0MFY2023: Net borrowing $73.9MFY2023: Shares issued $540KFY2023: Capital spending −$36.3MFY2023: Dividends −$21.2M$74.4MFY2023FY2024: Operating cash flow $104MFY2024: Net borrowing −$5.0MFY2024: Shares issued $824KFY2024: Capital spending −$34.5M$104MFY2024FY2025: Operating cash flow $130MFY2025: Shares issued $1.8MFY2025: Capital spending −$31.7M$132MFY2025
Over these 5 years operating cash flow totalled $149M; the largest uses were capital spending ($125M) and operating cash flow ($87.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$64.6M
Debtnone
Net cash$64.6M

Adtran Holdings funds itself: free cash flow was $22.5M over the last twelve months, with $64.6M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Adtran Holdings: sources (+) and uses (−) of cash, Q3 2026Adtran Holdings: sources (+) and uses (−) of cash, Q3 2026Other financing$50.1MOperating cash flow−$24.5MPartners−$18.1MOther investing−$8.9MCash drawn (+) / kept (−)$7.5MCapital spending−$5.8MExchange rates−$543KShares issued$126KTaxes on employees’ shares−$18K
Adtran Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Adtran Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Partners−$59.1MNet borrowing (+) / repaid (−)$58.0MOperating cash flow$56.4MCapital spending−$33.9MOther investing−$33.7MCash drawn (+) / kept (−)$29.5MOther financing−$19.8MShares issued$7.1MExchange rates−$2.7MTaxes on employees’ shares−$1.8M

From profit to cash

Adtran Holdings: net income to operating cash flow, Q3 2026Adtran Holdings: net income to operating cash flow, Q3 2026Net income−$7.1MDepreciation & amortization$26.2MStock-based pay$3.0MDeferred taxes−$792KGains on investments$154KReceivables−$31.7MInventory−$22.1MPayables$4.4MAccrued liabilities−$5.2MIncome taxes payable$5.1MOperating cash flow−$24.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026721169395
Q2 2026681078788
Q1 2026671108890
Q4 2025611149283
Q3 2025571249882
Q2 2025571359696
Q1 202563152101113
Q4 202466161104124

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$24.5M−$5.8M—$126K$7.5M−$30.2M
Q2 2026$25.9M−$8.9M—$5.2M$9.0M$17.0M
Q1 2026$12.7M−$7.5M—$1.4M$7.4M$5.2M
Q4 2025$42.2M−$11.7M—$395K$5.5M$30.6M
Q3 2025$12.2M−$8.0M−$165M$271K$5.0M$4.2M
Q2 2025$32.2M−$4.7M—$407K−$5.0M$27.5M
Q1 2025$43.2M−$7.4M—$756K−$25.3M$35.8M
Q4 2024$2.4M−$3.3M—$605K$12.4M−$895K

Adtran Holdings: income statement and cash flow

Adtran Holdings, Q3 2026: revenue $281M (+0.6% year over year), operating margin -0.3%. The chart follows the revenue to costs, profit and cash.

Adtran Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.