ADTN FINANCIAL STATEMENTS

ADTRAN Inc — balance sheet, income statement and cash flow trends

ADTNADTRAN Inc

🇺🇸 USA · NASDAQ · Technology · Communication Equipment

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue1.1 B $+18.8%

Gross Profit432.8 M $+22.5%

Operating Income-5.3 M $—

EBITDA105 M $+844.6%

Net Income-35.7 M $—

Peer Comparison· Communication Equipment

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ADTN	18.8%	38.6%	9.4%	-3.2%
KAREL	14.1%	11.4%	7.0%	-7.2%
ALCTL	-14.6%	15.6%	6.2%	-2.7%
NETAS	7.5%	6.7%	2.3%	-2.6%
ERIC-B	-7.4%	48.0%	20.4%	10.9%
Industry median	9.2%	38.0%	10.3%	0.3%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ADTN	18.8%	38.6%	9.4%	-3.2%
HLIT	-27.5%	50.5%	9.8%	-8.4%
NTGR	2.8%	37.5%	-2.5%	-5.8%
CLFD	-23.6%	37.2%	10.2%	-6.3%
DGII	13.5%	63.4%	21.0%	9.1%
AVNW	0.2%	32.4%	7.4%	2.1%
Industry median	9.2%	38.0%	10.3%	0.3%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity137.5 M $17%
Current Liabilities359.2 M $44%
Long-term Liabilities319.3 M $39%

Key Figures

YoY change

Total Assets1.2 B $-0.7%

Total Liabilities678.5 M $+7.5%

Total Equity137.5 M $-1.0%

Cash & ST Investments122.1 M $+20.5%

Total Debt243.4 M $+12.4%

Net Debt155.1 M $+34.7%

Peer Comparison· Communication Equipment

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ADTN	1.77	177.0%	1.16	11.6%
KAREL	0.77	372.2%	4.08	11.0%
ALCTL	2.73	3.9%	-3.76	54.8%
NETAS	0.78	-940.3%	8.99	-3.3%
ERIC-B	1.12	38.4%	-0.51	35.3%
Industry median	1.61	73.1%	0.85	37.5%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ADTN	1.77	177.0%	1.16	11.6%
HLIT	2.26	36.9%	0.45	50.4%
NTGR	2.58	10.2%	14.61	58.8%
CLFD	12.84	4.5%	-5.75	92.1%
DGII	1.11	23.1%	1.22	68.4%
AVNW	1.99	39.2%	0.89	44.1%
Industry median	1.61	73.1%	0.85	37.5%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow99.3 M $-8.4%

Capital Expenditures41 M $-26.6%

Free Cash Flow58.3 M $+10.9%

Dividends Paid0 $—

Peer Comparison· Communication Equipment

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ADTN	8.8%	5.2%	3.7%	-278.0%
KAREL	22.1%	15.4%	7.7%	-307.2%
ALCTL	7.5%	7.4%	0.1%	-278.7%
NETAS	2.2%	2.0%	0.1%	-85.6%
ERIC-B	15.5%	14.4%	1.1%	142.3%
Industry median	12.5%	11.1%	2.3%	65.9%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ADTN	8.8%	5.2%	3.7%	-278.0%
HLIT	11.2%	9.1%	2.1%	-133.6%
NTGR	1.7%	-1.6%	3.3%	-30.1%
CLFD	13.3%	11.8%	2.2%	-210.4%
DGII	27.2%	26.7%	0.5%	299.1%
AVNW	4.8%	2.7%	2.1%	232.8%
Industry median	12.5%	11.1%	2.3%	65.9%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.