ADTRAN Holdings, Inc.
ADTNNasdaqTechnology · Telephone & Telegraph Apparatus · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $1.08B | $922.7M | $1.15B | $1.03B | $563.0M | $114.5M |
| Operating income | −$15.6M | −$427.6M | −$223.7M | −$72.8M | −$14.7M | −$4.9M |
| Net income | −$45.7M | −$459.9M | −$268.9M | −$2.0M | −$8.6M | −$10.0M |
| Total assets | $1.20B | $1.17B | $1.68B | $1.94B | $569.0M | $525.7M |
| Total liabilities | $685.3M | $621.5M | $635.5M | $639.9M | $211.9M | $152.7M |
| Equity | $145.8M | $127.0M | $605.3M | $1.30B | $357.1M | $372.9M |
| EPS (diluted) | $-0.52 | $-5.79 | $-3.43 | $-0.03 | $-0.18 | $-0.21 |
| Shares out. | 79.9M | 79.1M | 78.6M | 49.1M | 48.3M | 48.1M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −1.4%
- Net margin
- −4.2%
- Return on equity
- −31.3%
- Return on assets
- −3.8%
- Return on capital (ROCE)
- −1.9%
- Liabilities / assets
- 56.9%
- Debt / equity
- 4.70×
- Book value / share
- $1.83
- Revenue growth (YoY)
- 17.5%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -0.35distress
- Accruals / assets
- −14.6%clean
- Beneish M-Score
- -3.06normal
- Piotroski F-Score
- 5/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 2 warning● 3 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Reported a net loss
- Revenue is growing year-over-year
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗May 13, 2025
- NT 10-Kmissed a reporting deadline ↗Feb 29, 2024
- NT 10-Qmissed a reporting deadline ↗Aug 10, 2023
- NT 10-Qmissed a reporting deadline ↗Aug 12, 2019
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Vanguard Portfolio Management LlcPassive (13G)Apr 28, 2026
- Vanguard Group IncPassive (13G)Mar 26, 2026
- Egora Ventures AgPassive (13G)Mar 18, 2026
- Divisar Capital Management LlcPassive (13G)Nov 14, 2025
- William Blair Investment Management, LlcPassive (13G)May 9, 2025
- Dnb Asset Management AsPassive (13G)Apr 23, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Wilson James Denson JrOfficer — Chief Revenue Officer | May 20, 2026 | Sell | 9,332 | $14.72 |
| Glingener ChristophOfficer — Chief Technology Officer | May 7, 2026 | Option exercise | 41,220 | $7.01 |
| Wilson James Denson JrOfficer — Chief Revenue Officer | Apr 1, 2026 | Grant | 24,908 | $0.00 |
| Santo Timothy POfficer — SVP of Finance; CFO | Apr 1, 2026 | Grant | 28,252 | $0.00 |
| Stanton Thomas ROfficer — Chairman & CEO | Apr 1, 2026 | Grant | 170,723 | $0.00 |
| Santo Timothy POfficer — SVP of Finance; CFO | Mar 19, 2026 | Tax withholding | 1,501 | $11.90 |
| Jacqueline Hourigan RiceDirector | Mar 4, 2026 | Sell | 14,406 | $10.29 |
| Wilson James Denson JrOfficer — Chief Revenue Officer | Jan 26, 2026 | Grant | 3,777 | $0.00 |
| Stanton Thomas ROfficer — Chairman & CEO | Jan 26, 2026 | Grant | 27,973 | $0.00 |
| Wilson James Denson JrOfficer — Chief Revenue Officer | Jan 24, 2026 | Tax withholding | 1,227 | $9.55 |
| Stanton Thomas ROfficer — Chairman & CEO | Jan 24, 2026 | Tax withholding | 17,535 | $9.55 |
| Wilson James Denson JrOfficer — Chief Revenue Officer | Jan 20, 2026 | Tax withholding | 765 | $9.24 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 11.5M | 3.8 | +2.9% |
| Apr 30, 2026 | 11.1M | 4.1 | +17.5% |
| Apr 15, 2026 | 9.5M | 3.9 | +15.7% |
| Mar 31, 2026 | 8.2M | 3.8 | -2.3% |
| Mar 13, 2026 | 8.4M | 8.0 | +13.0% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Amended charter or bylaws · Shareholder voteMay 18, 2026
- Results of operations · Regulation FD disclosureMay 5, 2026
- Director / officer changeApr 7, 2026
- Results of operations · Regulation FD disclosureFeb 26, 2026
- Results of operations · Regulation FD disclosureJan 22, 2026
- Director / officer changeDec 11, 2025
- Results of operations · Regulation FD disclosureNov 4, 2025
- Entered a material agreement · New financial obligation · Unregistered equity saleSep 22, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.