ADTRAN Holdings, Inc. announced its preliminary unaudited financial results for the first quarter ended March 31, 2025, on May 7, 2025. The company reported revenue of $247.7 million, a 10% increase year-over-year, and a non-GAAP gross margin of 42.6%.
Non-GAAP operating profit for the quarter was $10.1 million, or 4.1% of revenue. The GAAP net loss attributable to ADTRAN Holdings, Inc. was $(10.6) million, or $(0.13) per share. The company also provided guidance for the second quarter of 2025, expecting revenue between $247.5 million and $262.5 million, with a non-GAAP operating margin of 0% to 4%.
The company disclosed that it identified errors in its previously issued consolidated financial statements, primarily impacting inventory and cost of revenue, but stated these impacts were not material to any prior period. Additionally, errors related to the redeemable non-controlling interest and its remeasurement were identified, leading to revisions in certain balance sheet and income statement items for 2024 interim periods and the full year 2024.
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