ADTRAN Holdings, Inc. (ADTN) Stock Price & Analysis
ADTRAN Holdings, Inc. (ADTN) closed at USD 6.45 on Thursday, October 22, 2026, down 3.59% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 6.45; the Oct 22, 2026 session ranged USD 6.4–6.6 on volume of 1,149,777 shares. Market capitalization is —, with a 52-week range of USD 6.29–19.98 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:21 UTC.
Also available as compact Markdown for AI agents: nexqual.com/ADTN.md
Key facts (ADTN)
- Last four reported quarters (through Jun 30, 2026): revenue $1.14B, net income -$26.1M (-2.3% margin), free cash flow $56.9M (SEC filings).
- 2 of 80 tracked superinvestors hold ADTN (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $2.4M; 1 not under a Rule 10b5-1 plan ($137K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $50K; 0 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y -33.9% vs S&P 500 +14.9%; 5Y -62.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 0.04, revenue estimate $286M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (ADTN)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $563M | $1.03B | $1.15B | $923M | $1.08B | $1.14B |
| Gross profit | $218M | $327M | $331M | $324M | $415M | — |
| Operating income | -$14.7M | -$72.8M | -$224M | -$428M | -$15.6M | -$2.0M |
| Net income | -$8.6M | -$2.0M | -$269M | -$460M | -$45.7M | -$26.1M |
| EPS (diluted) | -$0.18 | -$0.03 | -$3.43 | -$5.79 | -$0.52 | — |
| Free cash flow | -$2.7M | -$61.3M | -$79.4M | $69.1M | $98.0M | $56.9M |
| Gross margin | 38.8% | 31.9% | 28.8% | 35.1% | 38.3% | — |
| Operating margin | -2.6% | -7.1% | -19.5% | -46.3% | -1.4% | -0.2% |
| Net margin | -1.5% | -0.2% | -23.4% | -49.8% | -4.2% | -2.3% |
| Revenue growth | +11.2% | +82.2% | +12.0% | -19.7% | +17.5% | — |
| Cash + short-term investments | $57.0M | $109M | $87.2M | — | — | — |
| Total debt | — | — | — | — | $193M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (ADTN)
Superinvestors (SEC 13F-HR, Q2 2026) (ADTN)
2 of 80 tracked investors hold ADTN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $17.4M | Reduced -8.8% |
| Polen Capital | Polen Capital Management | 0.01% | $977K | Reduced -7.1% |
Insider sales (SEC Form 4, open-market, last ~7 months) (ADTN)
1 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-20 | Wilson James Denson Jr | Chief Revenue Officer | 9,332 | $137K | 6.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-07…2026-05-08 | Glingener Christoph | Chief Technology Officer | 148,392 | $2.2M | 76.1% | Yes (adopted December 12, 2025) | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (ADTN)
1 purchase, $50K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-06 | Santo Timothy P | SVP of Finance; CFO | 6,579 | $50K | 7.6 | Too little history (no open-market trades in 2023 or 2024) |
Analysts (ADTN)
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-05 | Evercore ISI Group | Target lowered | Outperform | $18 → $11 |
| 2026-08-05 | Rosenblatt | Target lowered | Buy | $20 → $15 |
| 2026-07-23 | B. Riley Securities | Target lowered | Buy | $23 → $21 |
| 2026-07-23 | Needham | Target lowered | Buy | $18 → $14 |
| 2026-07-23 | Rosenblatt | Maintained | Buy | $20 |
| 2026-07-22 | Needham | Target lowered | Buy | $18 → $14 |
Total return (dividends reinvested) (ADTN)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -33.9% | -62.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -34.0% | -17.5% |
| Volatility (annualized) | 68.6% | 54.0% |
| Max drawdown | -67.5% (May 2026→Oct 2026) | -81.8% (Aug 2022→Apr 2024) |
ADTN revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Network Solutions | $232.9M | 82.8% | +6.1% |
| Services & Support | $48.2M | 17.2% | +5.9% |
| Total revenue | $281.1M | 100% | — |
ADTN revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Optical Networking Solutions | $87.2M | 31.0% | +30.9% |
| Subscriber Solutions | $73.5M | 26.2% | -2.6% |
| Access Aggregation Solutions | $72.1M | 25.7% | -6.7% |
| Total revenue | $281.1M | 100% | — |
ADTN revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $134.4M | 47.8% | +11.7% |
| Other International | $60.6M | 21.6% | +5.8% |
| Germany | $48.4M | 17.2% | +55.2% |
| United Kingdom | $37.7M | 13.4% | -33.0% |
| Total revenue | $281.1M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
ADTN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Cisco (CSCO) | “Main competitors of our Optical Networking solutions portfolio are Ciena, Cisco, Ekinops, Nokia, Smartoptics and Ribbon Communications.” |
Quoted from the company's 10-K filed Feb 26, 2026.
Companies that name ADTN in their SEC reports
| Relationship to ADTN | Company | Filing | Sentence |
|---|---|---|---|
| customer | Ribbon Communications Inc. (RBBN) | 10-K Feb 26, 2026 | “Further, consolidation has also occurred in the telecommunications supplier and vendor space, including the acquisition by Alianza of the Metaswitch business held by Microsoft (2024), the acquisition of Infinera by Nokia (2025), the acquisition of Juniper Networks by Hewlett Packard Enterprises (2025), and the combination of ADTRAN, Inc. and ADVA (2022).” |
ADTN customer concentration
In the period ended Dec 31, 2025, a single direct customer accounted for 14.2% of revenue, per the company's 10-K filed Feb 26, 2026. The company does not name it.
ADTN company outlook (results filed Aug 4, 2026)
- “We remain committed to our long-term operating model and remain confident that our strategy will deliver long-term shareholder value." Business outlook 1 For the third quarter of 2026, the Company expects revenue to be within a range of $275.0 million to $295.0 million.”
- “Non-GAAP operating margin is expected to be within a range of 1.5% to 5.5%. 1 Non-GAAP operating margin (which is calculated as non-GAAP operating income (loss) divided by revenue) is a non-GAAP financial measure.”
- “The Company has provided guidance for its third quarter 2026 non-GAAP operating margin.”
Analysts expect $285.7M for the current quarter, 0.3% above the midpoint of the company's guidance ($285.0M).
Quoted word-for-word from the SEC 8-K results press release.
ADTN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.04 | $0.15 | -76.1% | $285.7M | 6 |
| Next quarter (ends Dec 2026) | $0.07 | $0.16 | -53.7% | $292.9M | 6 |
| Current fiscal year (ends Dec 2026) | $0.29 | $0.57 | -49.7% | $1.15B | 7 |
| Next fiscal year (ends Dec 2027) | $0.58 | $0.76 | -23.3% | $1.24B | 7 |
Key Statistics (as of October 23, 2026 at 09:21 UTC)
| Price | USD 6.45 |
|---|---|
| Change | ▼ 3.59% (down) |
| Previous Close | USD 6.45 |
| Open | USD 6.45 |
| Day Range | USD 6.4 – 6.6 |
| 52-Week Range | USD 6.29 – 19.98 |
| Volume | 1,149,777 shares |
| Market Cap | — |
| Exchange | NMS |
Technical Analysis (ADTN)
Nexqual's technical model rates ADTN "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:21 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 40.46 (neutral) |
| vs SMA50 | Below (USD 7.31) |
| MACD | -0.26 (negative) |
Earnings (ADTN)
| Next Earnings Date | 2026-11-02 |
|---|---|
| EPS Estimate | USD 0.04 |
| Revenue Estimate | $285.72M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.04 vs est 0.04 ▲ beat |
| 2026-03-31 | USD 0.14 vs est 0.09 ▲ beat |
| 2025-12-31 | USD 0.16 vs est 0.08 ▲ beat |
| 2025-09-30 | USD 0.05 vs est 0.06 ▼ miss |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Financials & Fundamentals (ADTN)
| Total Revenue | $1.14B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +6.10% |
| Gross Margin | +38.46% |
| Operating Margin | -3.54% |
| Profit Margin | -2.29% |
| ROE | -3.17% |
| Debt / Equity | 0.5 |
| Current Ratio | 1.79 |
| Total Cash | $79.24M |
| Total Debt | $242.66M |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Ownership (ADTN)
| Insider Ownership | +2.25% |
|---|---|
| Institutional Ownership | +109.24% |
| Shares Outstanding | 81.48M |
| Float | 79.39M |
| Short % of Float | +16.56% |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
From ADTRAN Holdings, Inc.'s Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- The cloud-hosted services include a suite of SaaS applications under the Company's Mosaic One platform that manages end-to-end network and service optimization for both fiber access infrastructure and mesh Wi-Fi connectivity, featuring AI-driven operations.
- Transformation through software: Open and cloud-centric systems, end-to-end programmability, simplification through software, and innovative SaaS offerings.
- We take an approach to our portfolio in which we are focused in specific markets where we can offer competitive differentiation and scale while also having enough diversity and breadth in the portfolio to provide end-to-end connectivity solutions that offer value to our customers.
- Our product development efforts are often centered on entering a market with improved technology, which we believe enables us to offer products at competitive prices and compete for market share.
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to complex and evolving U.S. and foreign laws, regulations and standards governing the conduct of our business. Violations of these laws and regulations may harm our business, subject us to penalties and to other adverse consequences.
- New or revised tax regulations, changes in our effective tax rate, recognition of a valuation allowance or assessments arising from tax audits may have an adverse impact on our results.
- We may face litigation and other risks as a result of the material weaknesses in our internal control over financial reporting, prior restatements of our financial statements, and any future restatement of our previously issued financial statements.
- Our failure or the failure of our contract manufacturers to comply with applicable environmental regulations could adversely impact our results of operations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| GILT | Gilat Satellite Networks Ltd. | USD 7.45 | ▼ 5.34% |
| NTGR | NETGEAR, Inc. | USD 22.31 | ▼ 1.98% |
| FEIM | Frequency Electronics, Inc. | USD 61.6 | ▼ 9.66% |
| CLFD | Clearfield, Inc. | USD 27.5 | ▼ 5.69% |
| HLIT | Harmonic Inc. | USD 10.09 | ▼ 5.96% |
| VISN | Vistance Networks, Inc. | USD 6.08 | ▼ 0.49% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:21 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt