Adtran reported Q2 revenue of $327.4 million, up 90% year-over-year and 1% quarter-over-quarter. Net loss attributable to the company for the second quarter of 2023 was $33.3 million, down 1,655% year-over-year and up 3% quarter-over-quarter. Non-GAAP net income was $0.1 million, down 99% year-over-year and up 102% quarter-over-quarter.
ADTRAN Holdings Chairman and Chief Executive Officer Tom Stanton stated, “Our Q2 2023 results were in line with our expectations. Although new customer acquisitions remain near an all-time high, we anticipate the second half of 2023 will continue to present challenges due to customers optimizing inventory and the macroeconomic environment. Nevertheless, we continue to believe that we are in the early stage of an unprecedented investment cycle and ADTRAN Holdings is well positioned to be one of the largest beneficiaries.”
