ADTN ADTRAN Holdings, Inc. - Common Stock
NASDAQ · Communications · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 4, 2026
$7.04
· of 52w range
· above low
· to high
$6.7352w low
$19.9852w high
Market Cap (MRQ)
$572M
P/E (TTM)
-25.1
EPS (TTM)
$-0.28
Revenue (TTM)
$1.14B
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52W Range
$7–$20
Analyst Rating
BUY
Price Target
$15
P/E
-25.1
ROE
-17.4%
Net Profit Margin
-2.3%
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ADTN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$7.04
Market Cap (MRQ)
$572M
P/E (TTM)
-25.1
EPS (TTM)
$-0.28
Revenue (TTM)
$1.14B
ROE (TTM)
-17.4%
52W Range
$7–$20
ADTN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Dec. 16, 2003 | 2-for-1 | Forward |
| May 15, 1995 | 2-for-1 | Forward |
About ADTRAN Holdings, Inc. - Common Stock Company overview from Wikipedia
Adtran, Inc. is an American fiber networking and telecommunications company headquartered in Huntsville, Alabama. It is a vendor of both residential and enterprise networking equipment, along with administrative software for network management and deployment. Its customers include communications service providers, governments, enterprises and utilities.
History
Adtran was founded in 1985 by Mark C. Smith, Lonnie S. McMillian, and Larry Owen,
and began operations in 1986, following the AT&T divestiture of the Regional Bell Operating Companies (RBOCs). It supplied network equipment to both the RBOCs and independent telephone companies in the United States.
In 2006, Adtran acquired Luminous Networks, a manufacturer of access network equipment. In 2011, it acquired Bluesocket, a maker of enterprise Wi-Fi equipment based in Burlington, Massachusetts. In 2012, it acquired Nokia Siemens Networks' broadband access business based in Germany. In 2016, it acquired CommScope's active fiber business. In 2018, Adtran acquired connected home software provider SmartRG from Vancouver, WA.
In 2021, Adtran entered into a business combination with ADVA Optical Networking, a cloud and mobile services networking company based in Munich and Meiningen in Germany. In 2022, Adtran acquired the remaining shares of Cambridge Communication Systems (CCS) Limited, a developer of wireless backhaul and transport systems for small cells. It offers an mmWave Gigabit fiber extension system along with web-based management software for planning, configuring and monitoring networks. In 2024, Adtran self-certified itself "Buy America-compliant" with the U.S. Department of Commerce. This list acts as a reference for communications service providers applying for Broadband Equity Access and Deployment (BEAD) funding.
Notable products
50G PON: Adtran's implementation of 50Gbit/s passive optical network (PON) technology includes its SDX 6400 Series of optical line terminals.
Quantum key distribution (QKD): In collaboration with Orange, Adtran demonstrated a 400Gbit/s data transmission system using QKD. The hybrid approach integrated quantum-safe encryption with classical cryptographic methods to secure data across a 184 km system.
Optical cesium atomic clocks: Adtran's Oscilloquartz division has introduced atomic clocks that leverage optical pumping technology. The improved accuracy and stability of these devices exceed the current ITU-T G.811.1 Enhanced Primary Reference Clock (ePRC) specification. The current highest-end clocks in this range can combine with core grandmaster devices to maintain 100 nanosecond precision for up to 100 days.
Mosaic One: Mosaic One is a cloud-based software-as-a-service platform that aggregates data from management systems, broadband access and in-home devices to support network operations and customer care.
Locations
Adtran's corporate headquarters is located in Huntsville, Alabama, in Cummings Research Park. It has international offices located in:
Melbourne, Australia
Berlin and Greifswald, Germany
Hyderabad, India
Tel Aviv, Israel
Milan, Italy
Riyadh, Saudi Arabia
Bratislava, Slovakia
Tunis, Tunisia
Basingstoke, Hampshire, United Kingdom
Adastral Park, Ipswich, United Kingdom
Gdynia, Poland
Warsaw, Poland
Munich, Bavaria, Germany
York, North Yorkshire, United Kingdom
Merger with ADVA Optical Networking
Adtran's 2022 business combination with ADVA expanded its portfolio to include end-to-end data transport products, complementing its existing focus on access networking equipment. The merger also gave Adtran ownership of ADVA's subsidiary, Oscilloquartz, a manufacturer of timing and synchronization solutions based in Switzerland.
Certifications
Adtran is certified for ISO 9001, ISO 14001, ISO 27001 and TL 9000.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorCommunications
industryCommunications
employees3,201
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$1.08B2019-12-31 → 2025-12-31
EPS$-0.522019-12-31 → 2025-12-31
Free Cash Flow$98M2019-12-31 → 2025-12-31
Net margin-2.3%2019-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ADTN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -25.1 | · | · | · | |
| P/S (TTM) | 0.5 | · | 1.9 | Undervalued | |
| P/B (MRQ) | 4.4 | · | 2.2 | Overvalued | |
| Price / FCF (TTM) | 10.0 | · | · | · | |
| Price / Cash Flow (TTM) | 6.1 | · | 19.0 | Undervalued | |
| Price / Tangible Book (MRQ) | -4.1 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ADTN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 38.5% | · | 38.8% | Weak | |
| Operating Margin (TTM) | -0.18% | · | 0.80% | Weak | |
| EBITDA Margin (TTM) | 8.4% | · | 1.5% | Weak | |
| Pretax Margin (TTM) | -0.86% | · | 1.1% | Weak | |
| Net Profit Margin (TTM) | -2.3% | · | -0.58% | Weak | |
| ROA (TTM) | -2.2% | · | -2.4% | Weak | |
| ROE (TTM) | -17.4% | · | -3.9% | Weak | |
| ROIC | -12.4% | · | 0.38% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | ADTN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 1.8 | · | 2.3 | Low liquidity | |
| Quick Ratio | 0.8 | · | 1.0 | Low liquidity | |
| Interest Coverage | -0.8 | · | 0.4 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | ADTN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 17.5% | · | · | · | |
| Revenue CAGR 3Y | 1.9% | · | · | · | |
| Revenue CAGR 5Y | 16.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | ADTN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.9 | · | 0.7 | Top tier | |
| Inventory Turnover | 2.8 | · | 2.7 | In line | |
| Receivables Turnover | 5.6 | · | 5.2 | In line | |
| Revenue / Employee | ≈$338.6K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Annualized Payout≈$0.36
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 18, 2023 | $0.09 | USD | ≈4.4% |
| May 22, 2023 | $0.09 | USD | ≈4.0% |
| Mar 6, 2023 | $0.09 | USD | ≈2.2% |
| Nov 21, 2022 | $0.09 | USD | ≈1.8% |
| Aug 17, 2022 | $0.09 | USD | ≈1.5% |
| May 18, 2022 | $0.09 | USD | ≈2.0% |
| Feb 16, 2022 | $0.09 | USD | ≈1.7% |
| Nov 15, 2021 | $0.09 | USD | ≈1.7% |
| Aug 18, 2021 | $0.09 | USD | ≈1.6% |
| May 19, 2021 | $0.09 | USD | ≈1.8% |
| Feb 17, 2021 | $0.09 | USD | ≈2.3% |
| Nov 16, 2020 | $0.09 | USD | ≈2.8% |
| Aug 19, 2020 | $0.09 | USD | ≈3.0% |
| May 20, 2020 | $0.09 | USD | ≈3.3% |
| Feb 19, 2020 | $0.09 | USD | ≈4.2% |
| Nov 13, 2019 | $0.09 | USD | ≈3.8% |
| Jul 31, 2019 | $0.09 | USD | ≈3.2% |
| May 1, 2019 | $0.09 | USD | ≈2.1% |
| Feb 6, 2019 | $0.09 | USD | ≈2.5% |
| Oct 30, 2018 | $0.09 | USD | ≈2.6% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
51.3%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $0.04 | $0.10 | -59.4% | |
| March 31, 2026 | $0.14 | $0.10 | 47.1% | |
| Dec. 31, 2025 | $0.16 | $0.08 | 91.4% | |
| Sept. 30, 2025 | $0.05 | $0.06 | -20.4% | |
| June 30, 2025 | $0.00 | $0.01 | — | |
| March 31, 2025 | $0.03 | $-0.03 | 198.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $923M | $1.15B | $1.03B | $563M | $507M | $530M | $529M | $667M | $637M | $600M | |
| Cost of Revenue | $669M | $599M | $818M | $698M | $345M | $289M | $311M | $326M | $363M | $345M | $333M | |
| Gross Profit | $415M | $324M | $331M | $327M | $218M | $218M | $219M | $204M | $304M | $291M | $267M | |
| R&D Expense | $204M | $221M | $258M | $174M | $109M | $113M | $126M | $125M | $131M | $125M | $130M | |
| SG&A Expense | $226M | $233M | $259M | $209M | $124M | $114M | $130M | $124M | $136M | $132M | $124M | |
| Operating Income | $-16M | $-428M | $-224M | $-73M | $-15M | $-10M | $-40M | $-45M | $37M | $35M | $13M | |
| Interest Expense | $19M | $22M | $16M | $3M | $34.0K | $5.0K | $511.0K | $533.0K | $556.0K | $572.0K | $596.0K | |
| Other Non-op | $-2M | $246.0K | $1M | $15M | $4M | $-3M | $1M | $1M | $-1M | $-489.0K | $-1M | |
| Pretax Income | $-31M | $-443M | $-234M | $-71M | $-6M | $-6M | $-25M | $-33M | $45M | $47M | $26M | |
| Income Tax | $5M | $7M | $28M | $-62M | $2M | $-9M | $28M | $-14M | $21M | $12M | $7M | |
| Net Income | $-46M | $-460M | $-269M | $-2M | $-9M | $2M | $-53M | $-19M | $24M | $35M | $19M | |
| EPS (Basic) | $-0.52 | $-5.79 | $-3.43 | $-0.03 | $-0.18 | $0.05 | $-1.11 | $-0.40 | $0.50 | $0.72 | $0.36 | |
| EPS (Diluted) | $-0.52 | $-5.79 | $-3.43 | $-0.03 | $-0.18 | $0.05 | $-1.11 | $-0.40 | $0.49 | $0.72 | $0.36 | |
| Shares (Basic) | 79,742,000 | 78,928,000 | 78,416,000 | 62,346,000 | 48,582,000 | 47,996,000 | 47,836,000 | 47,880,000 | 48,153,000 | 48,724,000 | 51,145,000 | |
| Shares (Diluted) | 79,742,000 | 78,928,000 | 78,416,000 | 62,346,000 | 48,582,000 | 48,288,000 | 47,836,000 | 47,880,000 | 48,699,000 | 48,949,000 | 51,267,000 | |
| EBITDA | $77M | $-337M | $-108M | $-5M | $1M | $7M | $-22M | · | $53M | $49M | $28M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $96M | $76M | $87M | $109M | $57M | $60M | $74M | $106M | $86M | $80M | $85M | |
| Short-term Investments | · | · | $0 | $340.0K | $350.0K | $3M | $33M | $3M | $16M | $43M | $34M | |
| Receivables | $211M | $178M | $210M | $279M | $159M | $99M | $91M | $99M | $144M | $92M | $72M | |
| Inventory | $216M | $262M | $360M | $428M | $140M | $125M | $98M | $100M | $123M | $105M | $92M | |
| Prepaid Expense | $55M | $56M | $41M | $34M | $9M | $8M | $8M | $11M | $17M | $16M | $10M | |
| Current Assets | $635M | $599M | $719M | $882M | $376M | $317M | $320M | $355M | $413M | $353M | $312M | |
| PP&E (Net) | $124M | $106M | $118M | $111M | $56M | $62M | $68M | $81M | $85M | $84M | $73M | |
| PP&E (Gross) | $360M | $413M | $444M | $410M | $335M | $332M | $327M | $346M | $339M | $327M | $304M | |
| Accum. Depreciation | $235M | $306M | $326M | $299M | $280M | $269M | $259M | $265M | $254M | $243M | $231M | |
| Goodwill | $60M | $53M | $358M | $386M | $7M | $7M | $7M | $7M | $3M | $3M | $3M | |
| Intangibles | $294M | $285M | $337M | $401M | $19M | $23M | $28M | $33M | $5M | $7M | $5M | |
| Other Non-current Assets | $73M | $78M | $88M | $67M | $31M | $25M | $20M | $6M | $9M | $12M | $9M | |
| Total Assets | $1.20B | $1.17B | $1.68B | $1.94B | $569M | $526M | $545M | $628M | $669M | $667M | $633M | |
| Accounts Payable | $167M | $172M | $163M | $238M | $102M | $50M | $45M | $60M | $61M | $77M | $49M | |
| Accrued Liabilities | · | · | · | · | · | · | · | $12M | $13M | $12M | $12M | |
| Short-term Debt | · | · | · | $25M | · | · | · | · | · | · | · | |
| Current Liabilities | $362M | $293M | $274M | $429M | $155M | $94M | $113M | $118M | $107M | $127M | $93M | |
| Capital Leases | $27M | $26M | $31M | $23M | $3M | $4M | $6M | · | · | · | · | |
| Deferred Tax | $27M | $30M | $36M | $62M | · | · | · | · | · | · | $7M | |
| Other Non-current Liabilities | $18M | $18M | $29M | $10M | $1M | $7M | $8M | $2M | $34M | $28M | $24M | |
| Total Liabilities | $685M | $622M | $629M | $640M | $212M | $153M | $165M | $182M | $171M | $188M | $153M | |
| Long-term Debt | · | · | · | · | · | · | $25M | $26M | $27M | $28M | $29M | |
| Total Debt | · | · | · | · | · | · | $25M | · | $26M | $27M | $28M | |
| Common Stock | $802.0K | $795.0K | $790.0K | $781.0K | $797.0K | $797.0K | $797.0K | $797.0K | $797.0K | $797.0K | $797.0K | |
| Retained Earnings | $-730M | $-689M | $-232M | $55M | $741M | $782M | $807M | $884M | $922M | $922M | $907M | |
| Treasury Stock | $5M | $5M | $6M | $4M | $662M | $679M | $685M | $692M | $682M | $684M | $665M | |
| AOCI | $79M | $11M | $48M | $26M | $-12M | $-12M | $-16M | $-14M | $-3M | $-12M | $-9M | |
| Stockholders' Equity | $146M | $127M | $605M | $1.30B | $357M | $373M | $380M | $446M | $498M | $480M | $480M | |
| Liabilities + Equity | $1.20B | $1.17B | $1.68B | $1.94B | $569M | $526M | $545M | $628M | $669M | $667M | $633M | |
| Shares Outstanding | 79,926,000 | 79,218,000 | 78,674,000 | 77,889,000 | 49,063,000 | 48,241,000 | 48,020,000 | 47,751,000 | 48,485,000 | 48,472,000 | 49,558,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $93M | $91M | $113M | $68M | $16M | $17M | $18M | $16M | $16M | $14M | $14M | |
| Stock-based Comp | $10M | $16M | $16M | $28M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | |
| Deferred Tax | $-4M | $6M | $16M | $-62M | $-2M | $-1M | $30M | $-17M | $14M | $-3M | $-692.0K | |
| Amort. of Intangibles | $63M | $63M | $83M | $47M | $4M | $4M | $5M | $2M | $3M | $2M | $2M | |
| Restructuring | $-284.0K | $41M | $22M | $2M | $411.0K | $6M | $6M | $7M | $274.0K | · | · | |
| Other Non-cash | $77M | $451M | $78M | $-76M | $-10M | $-41M | $-4M | · | $-103M | $-12M | $-20M | |
| Operating Cash Flow | $130M | $104M | $-43M | $-44M | $3M | $-17M | $-2M | $55M | $-42M | $42M | $19M | |
| CapEx | $32M | $35M | $36M | $17M | $6M | $6M | $9M | $8M | $15M | $21M | $12M | |
| Investing Cash Flow | $-69M | $-64M | $-35M | $56M | $10M | $41M | $-10M | $285.0K | $66M | $-6M | · | |
| Net Debt Issued | · | · | · | · | · | · | $-1M | · | $-1M | $-1M | $-1M | |
| Stock Repurchased | · | · | · | · | · | · | $184.0K | $16M | $17M | $26M | $66M | |
| Net Stock Activity | · | · | · | · | · | · | $-184.0K | · | $-17M | $-26M | $-66M | |
| Dividends Paid | · | $0 | $21M | $23M | $18M | $17M | $17M | $17M | $17M | $18M | $18M | |
| Financing Cash Flow | $-47M | $-50M | $59M | $53M | $-13M | $-43M | $-18M | $-32M | $-22M | $-40M | · | |
| Net Change in Cash | · | · | · | · | · | · | · | $-4M | $5M | $-393.0K | · | |
| Taxes Paid | $5M | $7M | $19M | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $98M | $69M | $-89M | $-61M | $-3M | $-23M | $-12M | · | $-57M | $21M | $7M | |
| Levered FCF | $76M | $47M | $-107M | $-62M | $-3M | $-23M | $-13M | · | $-57M | $20M | $6M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.3% | 35.1% | 29.0% | 31.9% | 38.8% | 43.0% | 41.3% | · | 45.5% | 45.8% | 44.5% | |
| Operating Margin | -1.4% | -46.3% | -19.3% | -7.1% | -2.6% | -1.9% | -7.5% | · | 5.7% | 5.5% | 2.2% | |
| Net Margin | -4.2% | -49.8% | -23.3% | -0.20% | -1.5% | 0.47% | -10.0% | · | 3.6% | 5.5% | 3.1% | |
| Pretax Margin | -2.9% | -48.0% | -20.1% | -6.9% | -1.1% | -1.2% | -4.7% | · | 6.7% | 7.4% | 4.3% | |
| EBITDA Margin | 7.1% | -36.5% | -9.4% | -0.51% | 0.25% | 1.4% | -4.2% | · | 8.0% | 7.7% | 4.6% | |
| ROA | -3.8% | · | -14.8% | · | -1.6% | 0.44% | -9.0% | · | 3.6% | 5.4% | 2.7% | |
| ROE | -28.9% | · | -42.2% | · | -2.4% | 0.64% | -13.7% | · | 4.9% | 7.3% | 3.6% | |
| ROIC | -12.4% | · | -41.8% | · | -5.6% | 1.0% | -21.1% | · | 3.9% | 5.1% | 1.9% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | · | 2.6 | · | 2.4 | 3.4 | 2.8 | · | 3.9 | 2.8 | 3.6 | |
| Quick Ratio | 0.8 | · | 1.1 | · | 1.4 | 1.7 | 1.8 | · | 2.3 | 1.7 | 2.1 | |
| Debt / Equity | · | · | · | · | · | · | 0.1 | · | 0.1 | 0.1 | 0.1 | |
| LT Debt / Equity | · | · | · | · | · | · | · | · | 0.1 | 0.1 | 0.1 | |
| Interest Coverage | -0.8 | -19.4 | -13.6 | -21.2 | -432.4 | -1954.6 | -78.2 | · | 67.9 | 60.7 | 22.6 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.9 | · | 0.6 | · | 1.0 | 0.9 | 0.9 | · | 1.0 | 1.0 | 0.9 | |
| Inventory Turnover | 2.8 | · | 2.1 | · | 2.6 | 2.6 | 3.1 | · | 3.2 | 3.5 | 3.8 | |
| Receivables Turnover | 5.6 | · | 4.6 | · | 4.4 | 5.4 | 5.6 | · | 5.6 | 7.8 | 7.5 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $1.82 | · | $7.55 | · | $7.28 | $7.73 | $7.92 | · | $10.27 | $9.89 | $9.69 | |
| Revenue / Share | $13.59 | $11.69 | $14.65 | $16.45 | $11.59 | $10.49 | $11.08 | · | $13.69 | $13.01 | $11.70 | |
| Cash Flow / Share | $1.63 | $1.31 | $-0.58 | $-0.71 | $0.06 | $-0.34 | $-0.05 | · | $-0.87 | $0.86 | $0.36 | |
| Cash / Share | $1.20 | · | $1.11 | · | $1.15 | $1.25 | $1.54 | · | $1.78 | $1.65 | $1.71 | |
| Dividend / Share | · | · | · | · | · | $0.09 | $0.09 | $0.09 | $0.09 | · | · | |
| Dividend Paid / Share | · | · | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | · | · | · | · | |
| EPS (TTM) | $-0.52 | $-5.79 | $-3.43 | $-0.03 | $-0.18 | $0.05 | $-1.11 | $-0.40 | $0.49 | $0.72 | $0.36 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 17.5% | -19.7% | 12.0% | 82.2% | 11.2% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 1.9% | 17.9% | 31.4% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 16.4% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.08B | $923M | $1.15B | $1.03B | $563M | $507M | $530M | $529M | $667M | $637M | $600M | |
| Net Income TTM | $-46M | $-460M | $-269M | $-2M | $-9M | $2M | $-53M | $-19M | $24M | $35M | $19M | |
| Market Cap | $695M | · | $577M | · | $1.12B | $713M | $475M | · | $938M | $1.08B | $853M | |
| Enterprise Value | · | · | · | · | · | · | $393M | · | $861M | $987M | $762M | |
| P/E | -16.7 | -1.4 | -2.1 | -626.3 | -126.8 | 295.4 | -8.9 | -26.9 | 39.5 | 31.0 | 47.8 | |
| P/S | 0.6 | · | 0.5 | · | 2.0 | 1.4 | 0.9 | · | 1.4 | 1.7 | 1.4 | |
| P/B | 4.8 | · | 1.0 | · | 3.1 | 1.9 | 1.2 | · | 1.9 | 2.3 | 1.8 | |
| P / Tangible Book | · | · | · | 2.8 | 3.4 | 2.1 | · | · | · | · | · | |
| P / Cash Flow | 5.4 | · | -12.7 | · | 372.4 | -43.1 | -192.1 | · | -22.1 | 25.8 | 46.0 | |
| P / FCF | 7.1 | · | -6.5 | · | -420.9 | -31.1 | -39.7 | · | -16.4 | 52.7 | 125.6 | |
| EV / EBITDA | · | · | · | · | · | · | -17.7 | · | 16.1 | 20.1 | 27.5 | |
| EV / FCF | · | · | · | · | · | · | -32.8 | · | -15.1 | 48.0 | 112.2 | |
| EV / Revenue | · | · | · | · | · | · | 0.7 | · | 1.3 | 1.6 | 1.3 | |
| Dividend Yield | · | · | 3.7% | · | 1.6% | 2.4% | 3.6% | · | 1.8% | 1.6% | 2.2% | |
| Earnings Yield | -6.0% | -69.5% | -46.7% | -0.16% | -0.79% | 0.34% | -11.2% | -3.7% | 2.5% | 3.2% | 2.1% | |
| Payout Ratio | · | 0.00% | -7.9% | -1123.5% | -203.0% | 728.9% | -32.5% | · | 73.0% | 50.0% | 98.7% | |
| Annual Payout | · | $0 | $21M | $23M | $18M | $17M | $17M | $17M | $17M | $18M | $18M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $281M | $286M | $292M | $279M | $265M | $248M | $243M | $228M | $226M | $226M | $225M | $272M | $327M | $324M | $358M | $341M | |
| Cost of Revenue | $177M | $173M | $178M | $172M | $166M | $153M | $153M | $145M | $145M | $156M | $149M | $198M | $235M | $236M | $251M | $238M | |
| Gross Profit | $104M | $113M | $114M | $107M | $99M | $95M | $90M | $83M | $81M | $70M | $77M | $74M | $93M | $88M | $107M | $103M | |
| R&D Expense | $54M | $51M | $52M | $52M | $52M | $49M | $49M | $52M | $60M | $60M | $55M | $63M | $71M | $70M | $62M | $59M | |
| SG&A Expense | $60M | $56M | $57M | $58M | $60M | $50M | $57M | $58M | $59M | $59M | $62M | $63M | $67M | $67M | $78M | $75M | |
| Operating Income | $-10M | $6M | $4M | $-3M | $-13M | $-4M | $-17M | $-26M | $-38M | $-346M | $-40M | $-89M | $-45M | $-50M | $-33M | $-48M | |
| Interest Expense | $4M | $4M | $5M | $5M | $5M | $5M | $5M | $6M | $7M | $5M | $4M | $5M | $4M | $3M | $2M | $1M | |
| Other Non-op | $718.0K | $1M | $805.0K | $-745.0K | $-3M | $944.0K | $687.0K | $-850.0K | $-901.0K | $1M | $-3M | $3M | $2M | $-303.0K | $12M | $2M | |
| Pretax Income | $-8M | $3M | $2M | $-7M | $-17M | $-9M | $-20M | $-31M | $-45M | $-347M | $-45M | $-92M | $-45M | $-52M | $-23M | $-49M | |
| Income Tax | $788.0K | $2M | $3M | $1M | $1M | $-397.0K | $23M | $390.0K | $2M | $-19M | $65M | $-17M | $-8M | $-11M | $-58M | $-4M | |
| Net Income | $-11M | $-1M | $-4M | $-10M | $-21M | $-11M | $-46M | $-33M | $-50M | $-331M | $-112M | $-78M | $-39M | $-40M | $39M | $-42M | |
| EPS (Basic) | $-0.13 | $-0.01 | $-0.02 | $-0.12 | $-0.24 | $-0.14 | $-0.58 | $-0.38 | $-0.63 | $-0.01 | $-1.42 | $-1.00 | $-0.50 | $-0.51 | $0.52 | $-0.57 | |
| EPS (Diluted) | $-0.13 | $-0.01 | $-0.02 | $-0.12 | $-0.24 | $-0.14 | $-0.58 | $-0.38 | $-0.63 | $-0.01 | $-1.42 | $-1.00 | $-0.50 | $-0.51 | $0.52 | $-0.57 | |
| Shares (Basic) | 80,948,000 | 80,321,000 | · | 79,803,000 | 79,748,000 | 79,534,000 | 79,091,000 | 78,952,000 | 78,852,000 | 78,814,000 | · | 78,389,000 | 78,366,000 | 78,358,000 | · | 73,036,000 | |
| Shares (Diluted) | 80,948,000 | 80,321,000 | · | 79,803,000 | 79,748,000 | 79,534,000 | 79,091,000 | 78,952,000 | 78,852,000 | 80,321,000 | · | 78,389,000 | 78,366,000 | 78,358,000 | · | 73,036,000 | |
| EBITDA | $-10M | $31M | · | $-3M | $-13M | $18M | · | $-24M | $-38M | $-317M | · | $-89M | $-45M | $-16M | · | $-48M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $79M | $88M | $96M | $94M | $106M | $101M | $76M | $88M | $111M | $107M | · | $116M | $124M | $136M | · | $111M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | $3M | $1M | · | $803.0K | |
| Receivables | $206M | $215M | $211M | $179M | $165M | $167M | $178M | $172M | $186M | $188M | · | $229M | $240M | $262M | · | $302M | |
| Inventory | $209M | $209M | $216M | $224M | $240M | $254M | $262M | $283M | $288M | $322M | · | $374M | $417M | $416M | · | $416M | |
| Prepaid Expense | $60M | $62M | $55M | $72M | $68M | $62M | $56M | $69M | $59M | $60M | · | $36M | $34M | $37M | · | $31M | |
| Current Assets | $618M | $634M | $635M | $603M | $607M | $612M | $599M | $639M | $668M | $697M | · | $780M | $850M | $884M | · | $876M | |
| PP&E (Net) | $123M | $124M | $124M | $121M | $112M | $110M | $106M | $147M | $135M | $127M | · | $119M | $116M | $112M | · | $105M | |
| PP&E (Gross) | $369M | $365M | $360M | $457M | $440M | $425M | $413M | $493M | $470M | $459M | · | $443M | $432M | $420M | · | $394M | |
| Accum. Depreciation | $246M | $242M | $235M | $335M | $328M | $315M | $306M | $345M | $335M | $332M | · | $324M | $316M | $308M | · | $290M | |
| Goodwill | $58M | $59M | $60M | $60M | $60M | $55M | $53M | $57M | $55M | $55M | $358M | $339M | $388M | $386M | $386M | $358M | |
| Intangibles | $269M | $281M | $294M | $302M | $310M | $293M | $285M | $286M | $291M | $306M | · | $329M | $355M | $379M | · | $394M | |
| Other Non-current Assets | $64M | $70M | $73M | $69M | $76M | $76M | $78M | $87M | $87M | $88M | · | $61M | $61M | $63M | · | $56M | |
| Total Assets | $1.15B | $1.19B | $1.20B | $1.21B | $1.22B | $1.19B | $1.17B | $1.27B | $1.29B | $1.33B | · | $1.74B | $1.88B | $1.94B | · | $1.85B | |
| Accounts Payable | $169M | $171M | $167M | $189M | $178M | $172M | $172M | $173M | $159M | $159M | · | $149M | $172M | $199M | · | $276M | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $30M | |
| Current Liabilities | $345M | $359M | $362M | $308M | $310M | $303M | $293M | $305M | $290M | $283M | · | $285M | $310M | $342M | · | $465M | |
| Capital Leases | · | · | $27M | · | · | · | $26M | · | · | · | · | · | · | · | · | $21M | |
| Deferred Tax | $26M | $27M | $27M | $32M | $33M | $31M | $30M | $21M | $21M | $15M | · | $38M | $45M | $52M | · | $50M | |
| Other Non-current Liabilities | $16M | $17M | $18M | $12M | $16M | $17M | $18M | $26M | $34M | $35M | · | $17M | $16M | $16M | · | $10M | |
| Total Liabilities | $661M | $679M | $685M | $665M | $645M | $631M | $622M | $637M | $631M | $620M | · | $625M | $655M | $676M | · | $666M | |
| Total Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $30M | |
| Common Stock | $815.0K | $808.0K | $802.0K | $801.0K | $800.0K | $800.0K | $795.0K | $792.0K | $791.0K | $791.0K | · | $787.0K | $787.0K | $787.0K | · | $776.0K | |
| Retained Earnings | $-736M | $-731M | $-730M | $-729M | $-719M | $-701M | $-689M | $-635M | $-606M | $-558M | · | $-113M | $-41M | $8M | · | $32M | |
| Treasury Stock | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | · | $6M | $6M | $6M | · | $4M | |
| AOCI | $64M | $70M | $79M | $75M | $78M | $32M | $11M | $47M | $28M | $30M | · | $12M | $41M | $35M | · | $-40M | |
| Stockholders' Equity | $129M | $138M | $146M | $142M | $170M | $139M | $127M | $214M | $220M | $266M | $605M | $685M | $782M | $820M | $1.30B | $1.18B | |
| Liabilities + Equity | $1.15B | $1.19B | $1.20B | $1.21B | $1.22B | $1.19B | $1.17B | $1.27B | $1.29B | $1.33B | · | $1.74B | $1.88B | $1.94B | · | $1.85B | |
| Shares Outstanding | 81,195,000 | 80,546,000 | 79,926,000 | 79,831,000 | 79,779,000 | 79,707,000 | 79,218,000 | 78,967,000 | 78,855,000 | 78,850,000 | · | 78,391,000 | 78,364,000 | 78,361,000 | · | 77,619,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $26M | $25M | $24M | $23M | $23M | $22M | $23M | $23M | $22M | $22M | $22M | $24M | $34M | $33M | $33M | $28M | |
| Stock-based Comp | $3M | $2M | $1M | $3M | $3M | $3M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $12M | $12M | |
| Deferred Tax | $-169.0K | $-244.0K | $-5M | $-474.0K | $1M | $-157.0K | $19M | $285.0K | $6M | $-20M | $62M | $-14M | $-8M | $-24M | $-36M | $-26M | |
| Amort. of Intangibles | $18M | $17M | $17M | $16M | $16M | $15M | $17M | $16M | $15M | $15M | $14M | $16M | $26M | $26M | $25M | $20M | |
| Restructuring | · | · | · | · | · | · | $4M | $6M | $17M | $13M | · | $4M | $6M | $2M | · | · | |
| Other Non-cash | · | $-12M | · | · | · | $30M | · | · | · | $354M | · | · | · | $7M | · | · | |
| Operating Cash Flow | $26M | $13M | $42M | $12M | $32M | $43M | $2M | $45M | $21M | $38M | $-14M | $7M | $-16M | $-20M | $-1M | $-37M | |
| CapEx | $9M | $8M | $12M | $8M | $5M | $7M | $3M | $2M | $12M | $14M | $3M | $14M | $12M | $8M | $7M | $7M | |
| Investing Cash Flow | $-17M | $-16M | $-20M | $-17M | $-14M | $-18M | $-15M | $-21M | $-17M | $-14M | $-12M | $-5M | $-11M | $-7M | $12M | $39M | |
| Dividends Paid | · | · | · | · | · | · | · | · | · | · | $0 | $7M | $7M | $7M | $7M | $7M | |
| Financing Cash Flow | $-17M | $-2M | $-29M | $1M | $-20M | $324.0K | $-352.0K | $-45M | $-670.0K | $-4M | $-1M | $-8M | $13M | $56M | $-8M | $70M | |
| Taxes Paid | $3M | $-814.0K | · | · | $2M | $2M | $-2M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $5M | · | · | · | $36M | · | · | · | $23M | · | · | · | $-28M | · | · | |
| Levered FCF | · | $4M | · | · | · | $31M | · | · | · | $19M | · | · | · | $-31M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.0% | 39.5% | · | 38.3% | 37.3% | 38.4% | · | 37.4% | 36.1% | 31.9% | · | 27.3% | 28.3% | 27.1% | · | 30.2% | |
| Operating Margin | -3.6% | 2.2% | · | -1.0% | -5.0% | -1.6% | · | -10.5% | -17.0% | -150.2% | · | -32.8% | -13.6% | -15.3% | · | -14.1% | |
| Net Margin | -3.9% | -0.46% | · | -3.7% | -7.8% | -4.5% | · | -13.7% | -22.1% | -143.5% | · | -28.8% | -11.9% | -12.4% | · | -12.3% | |
| Pretax Margin | -2.8% | 1.0% | · | -2.4% | -6.5% | -3.8% | · | -12.5% | -19.9% | -150.5% | · | -33.9% | -13.6% | -16.0% | · | -14.4% | |
| EBITDA Margin | -3.6% | 10.9% | · | -1.0% | -5.0% | 7.1% | · | -10.5% | -17.0% | -140.2% | · | -32.8% | -13.6% | -5.0% | · | -14.1% | |
| ROA | -0.92% | -0.11% | · | -0.83% | -1.6% | -0.89% | · | -2.1% | -3.1% | -19.9% | · | -4.4% | -3.1% | -3.2% | · | -3.5% | |
| ROE | -7.3% | -0.96% | · | -5.8% | -10.5% | -5.6% | · | -7.0% | -10.0% | -59.8% | · | -8.4% | -6.9% | -6.8% | · | -5.4% | |
| ROIC | -8.6% | 1.5% | · | -2.3% | -8.3% | -2.7% | · | -11.4% | -18.2% | -120.8% | · | -10.7% | -4.6% | -4.7% | · | -3.6% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 1.8 | · | 2.0 | 2.0 | 2.0 | · | 2.1 | 2.3 | 2.5 | · | 2.7 | 2.7 | 2.6 | · | 1.9 | |
| Quick Ratio | 0.8 | 0.8 | · | 0.9 | 0.9 | 0.9 | · | 0.9 | 1.0 | 1.0 | · | 1.2 | 1.2 | 1.2 | · | 0.9 | |
| Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 0.0 | |
| Interest Coverage | -2.4 | 1.5 | · | -0.5 | -2.9 | -0.8 | · | -4.2 | -5.5 | -73.9 | · | -19.8 | -11.0 | -15.1 | · | -36.9 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.1 | 0.1 | · | 0.2 | 0.3 | 0.3 | · | 0.3 | |
| Inventory Turnover | 0.8 | 0.7 | · | 0.7 | 0.6 | 0.5 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | 0.8 | 0.8 | · | 0.9 | |
| Receivables Turnover | 1.5 | 1.5 | · | 1.6 | 1.5 | 1.4 | · | 1.1 | 1.1 | 1.0 | · | 1.0 | 1.6 | 1.6 | · | 1.6 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $1.59 | $1.71 | · | $1.77 | $2.13 | $1.74 | · | $2.71 | $2.79 | $3.37 | · | $8.74 | $9.99 | $10.47 | · | $15.26 | |
| Revenue / Share | $3.47 | $3.56 | · | $3.50 | $3.32 | $3.11 | · | $2.88 | $2.87 | $2.87 | · | $3.47 | $4.18 | $4.13 | · | $4.66 | |
| Cash Flow / Share | · | $0.16 | · | · | · | $0.54 | · | · | · | $0.46 | · | · | · | $-0.25 | · | · | |
| Cash / Share | $0.98 | $1.10 | · | $1.17 | $1.33 | $1.27 | · | $1.12 | $1.41 | $1.35 | · | $1.48 | $1.59 | $1.74 | · | $1.43 | |
| Dividend Paid / Share | · | · | · | · | · | · | · | · | · | · | $-0.18 | $0.09 | $0.09 | $0.09 | $-0.18 | $0.09 | |
| EPS (TTM) | $-0.28 | $-0.39 | · | $-1.08 | $-1.34 | $-1.73 | · | $-2.44 | $-3.06 | $-2.93 | · | $-1.49 | $-1.06 | $-0.52 | · | $-0.64 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.14B | $1.12B | · | $1.04B | $983M | $944M | · | $905M | $950M | $1.05B | · | $1.28B | $1.35B | $1.19B | · | $821M | |
| Net Income TTM | $-26M | $-36M | · | $-88M | $-111M | $-140M | · | $-526M | $-571M | $-560M | · | $-118M | $-82M | $-41M | · | $-45M | |
| Market Cap | $1.13B | $1.01B | · | $749M | $716M | $695M | · | $468M | $415M | $429M | · | $645M | $825M | $1.24B | · | $1.52B | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $1.44B | |
| P/E | -49.6 | -32.3 | · | -8.7 | -6.7 | -5.0 | · | -2.4 | -1.7 | -1.9 | · | -5.5 | -9.9 | -30.5 | · | -30.6 | |
| P/S | 1.0 | 0.9 | · | 0.7 | 0.7 | 0.7 | · | 0.5 | 0.4 | 0.4 | · | 0.5 | 0.6 | 1.0 | · | 1.9 | |
| P/B | 8.7 | 7.4 | · | 5.3 | 4.2 | 5.0 | · | 2.2 | 1.9 | 1.6 | · | 0.9 | 1.1 | 1.5 | · | 1.3 | |
| P / Tangible Book | · | · | · | · | · | · | · | · | · | · | · | 37.7 | 21.0 | 22.5 | · | 3.5 | |
| P / Cash Flow | · | 80.0 | · | · | · | 16.1 | · | · | · | 11.7 | · | · | · | -62.4 | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.8 | |
| Dividend Yield | 1.9% | 2.1% | · | 2.8% | 3.0% | 3.1% | · | 4.5% | 5.1% | 5.0% | · | 4.4% | 3.4% | 2.1% | · | 1.3% | |
| Earnings Yield | -2.0% | -3.1% | · | -11.5% | -14.9% | -19.8% | · | -41.1% | -58.2% | -53.9% | · | -18.1% | -10.1% | -3.3% | · | -3.3% | |
| Payout Ratio | · | · | · | · | · | · | · | · | · | · | · | · | · | -17.6% | · | · | |
| Annual Payout | $21M | $21M | · | $21M | $21M | $21M | · | $21M | $21M | $21M | · | $28M | $28M | $26M | · | $20M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|
| Revenue | $1.08B | $923M | · | · | · |
| Gross Margin % | 38.3% | 35.1% | · | · | · |
| Operating Margin % | -1.4% | -46.3% | · | · | · |
| Net Income | $-46M | $-460M | · | · | · |
| Diluted EPS | $-0.52 | $-5.79 | · | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|
| Current Ratio | 1.8 | · | · | · | · |
| Quick Ratio | 0.8 | · | · | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $98M | $69M | · | · | · |
Institutional owners (13F) 262 filers · $1.2B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
262
Value held
$1.2B
New positions
54
Exited positions
28
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 54 (0 vs prior Q) | 28 (-3 vs prior Q) | 93 (+7 vs prior Q) | 73 (+13 vs prior Q) | +6.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $108,923,125 | 7,836,196 | 8.89% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $71,385,521 | 5,135,649 | 5.83% | Shares |
| VANGUARD GROUP INC | $71,158,031 | 8,188,496 | 5.81% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $48,792,767 | 3,510,271 | 3.98% | Shares |
| STATE STREET CORP | $42,850,837 | 3,082,794 | 3.50% | Shares |
| ROYCE & ASSOCIATES LP | $41,323,546 | 2,972,917 | 3.37% | Shares |
| UBS Group AG | $40,876,064 | 2,940,724 | 3.34% | Shares |
| TWO SIGMA INVESTMENTS, LP | $40,259,307 | 2,896,353 | 3.29% | Shares |
| MILLENNIUM MANAGEMENT LLC | $37,847,198 | 2,722,820 | 3.09% | Shares |
| DNB Asset Management AS | $36,409,507 | 2,619,389 | 2.97% | Shares |
| JPMORGAN CHASE & CO | $36,067,035 | 2,623,057 | 2.94% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $27,222,874 | 1,958,052 | 2.22% | Shares |
| MORGAN STANLEY | $24,919,258 | 1,792,752 | 2.03% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $24,654,986 | 1,773,740 | 2.01% | Shares |
| Boston Partners | $22,721,824 | 1,651,038 | 1.85% | Shares |
| Qube Research & Technologies Ltd | $19,444,891 | 1,398,913 | 1.59% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $18,989,752 | 1,366,243 | 1.55% | Shares |
| First Eagle Investment Management, LLC | $17,354,247 | 1,248,507 | 1.42% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $15,276,364 | 1,099,019 | 1.25% | Shares |
| D. E. Shaw & Co., Inc. | $15,177,383 | 1,091,898 | 1.24% | Shares |
| GOLDMAN SACHS GROUP INC | $14,526,015 | 1,045,037 | 1.19% | Shares |
| MARSHALL WACE, LLP | $14,432,262 | 1,038,292 | 1.18% | Shares |
| FMR LLC | $14,055,605 | 1,011,195 | 1.15% | Shares |
| Assenagon Asset Management S.A. | $12,756,781 | 917,754 | 1.04% | Shares |
| Divisar Capital Management LLC | $11,836,211 | 851,526 | 0.97% | Shares |
| FEDERATED HERMES, INC. | $11,814,541 | 849,967 | 0.96% | Shares |
| BANK OF AMERICA CORP /DE/ | $11,751,353 | 845,421 | 0.96% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $10,937,535 | 786,873 | 0.89% | Shares |
| Point72 Asset Management, L.P. | $10,630,442 | 764,780 | 0.87% | Shares |
| HEARTLAND ADVISORS INC | $10,425,000 | 750,000 | 0.85% | Shares |
| NORTHERN TRUST CORP | $10,215,945 | 734,960 | 0.83% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $9,925,545 | 714,068 | 0.81% | Shares |
| Nuveen, LLC | $9,732,043 | 700,147 | 0.79% | Shares |
| Kovack Advisors, Inc. | $9,496,305 | 696,210 | 0.78% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $9,332,501 | 671,403 | 0.76% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $8,744,754 | 629,119 | 0.71% | Shares |
| WELLS FARGO & COMPANY/MN | $8,690,912 | 625,245 | 0.71% | Shares |
| Squarepoint Ops LLC | $8,581,693 | 617,388 | 0.70% | Shares |
| NORGES BANK | $7,998,060 | 575,400 | 0.65% | Shares |
| 1492 Capital Management LLC | $7,966,479 | 573,128 | 0.65% | Shares |
| TUDOR INVESTMENT CORP ET AL | $7,526,224 | 541,455 | 0.61% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $7,518,190 | 540,877 | 0.61% | Shares |
| Counterpoint Mutual Funds LLC | $7,365,137 | 529,866 | 0.60% | Shares |
| HENNESSY ADVISORS INC | $7,315,570 | 526,300 | 0.60% | Shares |
| ROYAL BANK OF CANADA | $7,009,000 | 504,227 | 0.57% | Shares |
| NOMURA HOLDINGS INC | $6,982,276 | 502,322 | 0.57% | Shares |
| WESTERLY CAPITAL MANAGEMENT, LLC | $6,950,000 | 500,000 | 0.57% | Shares |
| BARCLAYS PLC | $6,660,840 | 479,197 | 0.54% | Shares |
| Trexquant Investment LP | $6,570,989 | 472,733 | 0.54% | Shares |
| NEEDHAM INVESTMENT MANAGEMENT LLC | $6,255,000 | 450,000 | 0.51% | Shares |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| EGORA Ventures AG (f/k/a EGORA Holding GmbH), EGORA Investments GmbH, Brian Protiva | July 20, 2022 | · | Initial filing | · | SEC |
| (ENTITIES ONLY) Lonnie S. McMillian | March 7, 2005 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 47 insiders · 23 officers · 21 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Thomas R Stanton | Chairman & CEO | April 1, 2026 A | 1,126,554 | 1 | 0 | $300,002 |
| Ulrich Dopfer | Chief Financial Officer | Jan. 26, 2025 F | 48,195 | 0 | 0 | $0 |
| Michael Foliano | Chief Financial Officer | March 21, 2023 A | 106,986 | 0 | 0 | $0 |
| Danny J Windham | President & COO | Nov. 3, 2006 A | 28,648 | 0 | 0 | $0 |
| Howard A Thrailkill | President & COO | July 26, 2005 M | 43,400 | 0 | 0 | $0 |
| James Denson Wilson Jr | Chief Revenue Officer | May 20, 2026 G | 132,808 | 0 | 1 | $-137,367 |
| Robert Conger | SVP, Technology & Strategy | July 8, 2022 D | 0 | 0 | 0 | $0 |
| Marc Kimpe | SVP, Research & Development | July 8, 2022 D | 0 | 0 | 0 | $0 |
| Ronald Centis | SVP, Operations | July 8, 2022 D | 0 | 0 | 0 | $0 |
| Ray Harris | Chief Information Officer | July 8, 2022 D | 0 | 0 | 0 | $0 |
| Eduard Scheiterer | SVP, Research & Development | Nov. 30, 2021 A | 40,027 | 0 | 0 | $0 |
| Jeffrey F Mcinnis | SVP, Subscriber Solutions | May 12, 2020 D | 15,093 | 0 | 0 | $0 |
| Daniel T Whalen | Chief Product Officer | Feb. 18, 2020 P | 29,700 | 0 | 0 | $0 |
| Roger D Shannon | VP of Treas & Corp Development | Oct. 16, 2019 S | 12,809 | 0 | 0 | $0 |
| John Neville | Sr VP Sales | Nov. 9, 2018 A | 10,606 | 0 | 0 | $0 |
| Kevin P. Heering | Sr VP Services & Support | Nov. 17, 2017 A | 12,017 | 0 | 0 | $0 |
| Charles E. Marsh | Sr VP Sales | Nov. 11, 2017 A | 3,280 | 0 | 0 | $0 |
| Raymond R Schansman | SVP Global Services & Support | Oct. 27, 2017 I | 0 | 0 | 0 | $0 |
| Kevin W Schneider | Chief Technology Officer | Nov. 14, 2015 A | 54 | 0 | 0 | $0 |
| Robert A Fredrickson | VP - Carrier Network Sales | Nov. 26, 2014 M | 0 | 0 | 0 | $0 |
| Everette R Ramage | Vice President | April 20, 2007 M | 0 | 0 | 0 | $0 |
| Steven L Harvey | VP EN & CSP Sales | Nov. 3, 2006 A | 27,087 | 0 | 0 | $0 |
| Peter C Voetsch | SR. VICE PRESIDENT, OPERATIONS | Oct. 24, 2005 M | 0 | 0 | 0 | $0 |
| Anne Delsanto | Director | July 1, 2026 A | 4,399 | 0 | 0 | $0 |
| Hourigan Rice Jacqueline | Director | March 4, 2026 S | 13,809 | 0 | 1 | $-148,238 |
| Nikos Theodosopoulos | Director | Dec. 31, 2025 A | 65,963 | 1 | 0 | $100,429 |
| Nair Balan | Director | Dec. 31, 2025 A | 125,373 | 0 | 0 | $0 |
| Gregory James Mccray | Director | Dec. 31, 2025 A | 72,893 | 0 | 0 | $0 |
| Kathryn A Walker | Director | Dec. 31, 2025 A | 98,663 | 0 | 0 | $0 |
| Fenwick H Huss | Director | Dec. 31, 2025 A | 107,600 | 0 | 0 | $0 |
| Brian Protiva | Director | Dec. 31, 2023 M | 253,545 | 0 | 0 | $0 |
| Johanna Hey | Director | Sept. 19, 2023 F | 8,294 | 0 | 0 | $0 |
| Roy J Nichols | Director | Sept. 2, 2021 M | 63,870 | 0 | 0 | $0 |
| Anthony J. Melone | Director | March 5, 2020 A | 28,808 | 0 | 0 | $0 |
| William L Marks | Director | May 16, 2019 A | 61,505 | 0 | 0 | $0 |
| James E Matthews | Director | April 27, 2015 I | 0 | 0 | 0 | $0 |
| James L North | Director | Aug. 14, 2014 A | 91,785 | 0 | 0 | $0 |
| Ross K Ireland | Director | Oct. 8, 2013 A | 1,697 | 0 | 0 | $0 |
| Mark C Smith | Director | Feb. 21, 2007 G | 0 | 0 | 0 | $0 |
| BLOUNT W FRANK | Director | Dec. 31, 2006 A | · | 0 | 0 | $0 |
| Richard A Anderson | Director | Feb. 1, 2006 X | 4,780 | 0 | 0 | $0 |
| Mark Clay Smith | 10% owner | June 30, 2009 S | 2,836,936 | 0 | 0 | $0 |
| MCMILLIAN LONNIE S | 10% owner | Dec. 30, 2003 G | 0 | 0 | 0 | $0 |
| Christoph Glingener | · | Aug. 10, 2026 A | 83,953 | 0 | 3 | $-2,219,845 |
| Timothy P Santo | · | Aug. 6, 2026 P | 59,924 | 2 | 0 | $99,323 |
| Steven P Locke | · | Feb. 8, 2011 M | 0 | 0 | 0 | $0 |
| Linda Jones Smith | · | June 30, 2009 S | 2,836,936 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 37 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| NRSH · Tidal Trust I | 2.02% | 71,336 NS | July 31, 2026 | N-PORT |
| AZTD · Tidal Trust I | 0.99% | 44,192 NS | July 31, 2026 | N-PORT |
| IDGT · iShares Trust | 0.38% | 267,800 SH | Sept. 11, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 118,000 NS | July 31, 2026 | N-PORT |
| VFMF · VANGUARD WELLINGTON FUND | 0.16% | 83,537 SH | Aug. 19, 2026 | Daily |
| ESSC · Strategy Shares | 0.15% | 6,188 NS | July 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.13% | 262,114 SH | Sept. 11, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.06% | 82,436 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 212,526 SH | Oct. 2, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.05% | 71,550 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.04% | 722,263 SH | Sept. 11, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 13,033 SH | Oct. 2, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.03% | 442,991 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 36,733 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.02% | 1,971,872 SH | Sept. 11, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 261,847 NS | July 31, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.01% | 236,091 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 858,101 SH | Aug. 19, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.01% | 1,811,375 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.01% | 12,156 SH | Sept. 11, 2026 | Daily |
| TRFK · Pacer Funds Trust | 0.01% | 9,653 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 5,577 SH | Sept. 10, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 152,362 NS | July 31, 2026 | N-PORT |
| IGM · iShares Trust | 0.00% | 38,509 SH | Sept. 11, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 5,751 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 17,499 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 2,672 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 20,636 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 96,460 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 19,018 SH | Sept. 3, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 1,773 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,569,422 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 6,489 SH | Aug. 19, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 16 NS | July 31, 2026 | N-PORT |
| ISCB · iShares Trust | · | 3,368 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 9,393 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 41,675 SH | Sept. 11, 2026 | Daily |
ADTN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 15 analysts
BUY
Median target
$14.50
+106.0%
3 20.0%
Strong Buy
9 60.0%
Buy
3 20.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
6 analysts · 2026-09-30Mean target $14.67 +108.3%
← Below all targets
Current price $7.04
Low$11.00
Mean$14.67
High$21.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ADTN | $695M | -16.7 | 17.5% | -4.2% | -28.9% | 38.3% |
| VISN | $3.91B | 1.9 | 39.7% | 118.2% | -102.4% | 49.5% |
| HLIT | $1.10B | -26.0 | -26.2% | -12.0% | -10.4% | 48.5% |
| NTGR | $685M | -38.9 | 3.8% | -2.6% | -3.5% | 38.0% |
| CLFD | $476M | -59.3 | 19.6% | -5.4% | -3.1% | 33.7% |
| LTRX | $274M | -58.8 | -1.7% | -3.5% | -4.3% | 43.8% |
| RBBN | · | -4.4 | 1.3% | · | · | · |
| AVNW | $271M | 111.4 | 1.2% | 0.58% | 0.94% | 31.4% |
| OCC | $65M | · | 9.6% | -2.0% | -8.2% | 30.9% |
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Source: SEC 10-Q filed Aug 4, 2026