ADTRAN Holdings, Inc. announced its preliminary unaudited financial results for the third quarter of 2024 on November 6, 2024. The company reported total revenue of $227.7 million, marking a sequential increase from the prior quarter, though a 16% decrease year-over-year.
The company achieved expanded gross and operating margins during the quarter, with a non-GAAP operating profit of $2.5 million, or 1.1% of revenue. Net loss attributable to ADTRAN Holdings, Inc. was $(31.2) million, resulting in a loss of $(0.36) per share.
For the fourth quarter of 2024, ADTRAN Holdings expects revenue to be in the range of $230 million to $245 million, with a non-GAAP operating margin between 0% and 4%. Management noted improvements in key end markets, growing customer acquisition, and encouraging booking trends, anticipating continued sequential revenue growth.
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