Antibodies.com and Cactus Communications Partner to Accelerate Life Science Manuscript Publication
Antibodies.com, a trusted provider of high-quality biological reagents for life science researchers, and Cactus Communications (CACTUS), a global leader in science communication and technology, today announced a partnership to support effective science communications. The collaboration aims to simplify the journey from discovery to publication by providing essential tools for high-quality, impactful research, driving innovation and accelerating advancements in the life sciences.
The partnership will bring CACTUS' expertise in academic publishing to Antibodies.com's extensive network of over 30,000 scientists. Through Editage, CACTUS' flagship brand, researchers will have access to a suite of writing and editing tools, including English language editing, article promotion, and rapid statistical review, streamlining manuscript preparation and boosting publication prospects.
Nikesh Gosalia, President of Global Academic and Publisher Relations at CACTUS, said: 'Researchers face significant challenges in the publication process. At CACTUS, we strive to ease this journey by supporting scientists from the early stages of research communication to producing impactful, globally recognized work. Our partnership with Antibodies.com underscores our shared dedication to enhancing research quality, enabling us to deliver tailored end-to-end solutions that enhance scientific discovery and dissemination.'
Stewart Newlove, CTO and Co-Founder, Antibodies.com, added: 'This partnership represents a strategic step in delivering more value to researchers. By integrating world-class editorial and publishing services into our existing offerings, we aim to support researchers at every stage of their journey; not only with high-quality biological reagents, but also the tools for manuscript preparation and publication. Through this collaboration, we are making the publication process more accessible and efficient, helping to improve manuscript quality, increase publication success, and ultimately accelerate scientific advancements.'
Zyme Communications
SOURCE: Antibodies.com
Copyright Business Wire 2025.
PUB: 02/06/2025 08:19 AM/DISC: 02/06/2025 08:20 AM
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ADTRAN Holdings, Inc. reports second quarter 2025 financial results
HUNTSVILLE, Ala.--(BUSINESS WIRE)--ADTRAN Holdings, Inc. (NASDAQ: ADTN and FSE: QH9) ('ADTRAN Holdings' 'ADTRAN' or the 'Company') today announced its unaudited financial results for the second quarter ended June 30, 2025. Revenue: $265.1 million, higher by 17% year-over-year. Gross margin: GAAP gross margin: 37.3%; non-GAAP gross margin: 41.4%. Operating margin: GAAP operating margin (5.0)%, non-GAAP operating margin 3.0%. Net cash provided by operating activities of $32.2 million. Cash and cash equivalents of $106.3 million, an increase of $5.0 million sequentially. ADTRAN Holdings Chairman and Chief Executive Officer Tom Stanton stated, 'We delivered strong second quarter results with revenue growth that exceeded expectations, reflecting solid execution across our business and increasing demand. We experienced growth across all major revenue categories and gained market share in key areas. We also continued to strengthen our balance sheet with solid cash generation. These results underscore the impact of our strategic product investments and the trust customers are placing in Adtran to help them evolve and scale their networks to meet the demands of cloud, AI, and edge computing.' Mr. Stanton added, 'Looking forward, our bookings and pipeline reinforce our confidence in continued gains in profitability and cash flow. With a clear strategy, global reach, and investment in next-generation network architectures, Adtran remains well-positioned.' Business outlook 1 For the third quarter of 2025, the Company expects revenue to be within a range of $270.0 million to $280.0 million. Non-GAAP operating margin is expected to be within a range of 3.0% to 7.0%. 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 third quarter 2025 guidance with regard to non-GAAP operating margin. This measure excludes from the corresponding GAAP financial measure the effect of adjustments as described below. The Company has not provided a reconciliation of such non-GAAP guidance to guidance presented on a GAAP basis because it cannot predict and quantify without unreasonable effort all of the adjustments that may occur during the period due to the difficulty of predicting the timing and amounts of various items within a reasonable range. In particular, non-GAAP operating margin excludes certain items, such as acquisition related expenses, amortizations and adjustments, stock-based compensation expense, restructuring expenses, integration expenses, deferred compensation adjustments, professional fees and other expenses, and goodwill impairment, that the Company is unable to quantitatively predict. Depending on the materiality of these items, they could have a significant impact on the Company's GAAP financial results. Conference call The Company will hold a conference call to discuss its second quarter 2025 results on Tuesday, Aug. 5, 2025, at 9:30 a.m. Central Time (4:30 p.m. Central European Summer Time). The Company will webcast this conference call at the events and presentations section of ADTRAN Holdings, Inc. Investor Relations website at approximately 10 minutes before the start of the call, or you may dial 1-888-330-2391 (Toll-Free US) or 1-240-789-2702, and use Conference ID 8936454. An online replay of the Company's conference call, as well as the transcript of the call, will be available on the Investor Relations site shortly following the call and will remain available for at least 12 months. For more information, visit or email Upcoming conference schedule August 19, 2025: Rosenblatt Age of AI Tech Conference (Virtual) August 26, 2025: Evercore ISI Semiconductor, IT Hardware, & Networking Investor Conference September 10, 2025: Wolfe Research TMT Conference About Adtran ADTRAN Holdings, Inc. (NASDAQ: ADTN and FSE: QH9) is the parent company of Adtran, Inc., a leading global provider of open, disaggregated networking and communications solutions that enable voice, data, video and internet communications across any network infrastructure. From the cloud edge to the subscriber edge, Adtran empowers communications service providers around the world to manage and scale services that connect people, places and things. Adtran solutions are used by service providers, private enterprises, government organizations and millions of individual users worldwide. ADTRAN Holdings, Inc. is also the majority shareholder of Adtran Networks SE, formerly ADVA Optical Networking SE ('Adtran Networks'). Find more at LinkedIn and X. Cautionary note regarding forward-looking statements Statements contained in this press release and the accompanying earnings call which are not historical facts, such as those relating to future market conditions, customer demand, and ADTRAN Holdings' strategy, outlook and financial guidance, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can also generally be identified by the use of words such as 'believe,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'will,' 'may,' 'could' and similar expressions. In addition, ADTRAN Holdings, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. All such projections and other forward-looking information speak only as of the date hereof, and ADTRAN Holdings undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise, except to the extent as may be required by law. All such forward-looking statements are necessarily estimates and reflect management's best judgment based upon current information. Actual events or results may differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which have caused and may in the future cause actual events or results to differ materially from those estimated by ADTRAN Holdings include, but are not limited to: (i) risks and uncertainties relating to our ability to comply with the covenants set forth in our credit agreement, to satisfy our payment obligations to Adtran Networks' minority shareholders under the Domination and Profit and Loss Transfer Agreement between us and Adtran Networks (the 'DPLTA'), and to make payments to Adtran Networks in order to absorb its annual net loss pursuant to the DPLTA; (ii) the risk of fluctuations in revenue due to lengthy sales and approval processes required by major and other service providers for new products, as well as shifting customer spending patterns; (iii) risks and uncertainties related to our inventory practices and ability to match customer demand; (iv) risks and uncertainties relating to our level of indebtedness and our ability to generate cash; (v) risks and uncertainties relating to ongoing material weaknesses in our internal control over financial reporting; (vi) risks posed by changes in general economic conditions and monetary, fiscal and trade policies, including tariffs; (vii) risks posed by potential breaches of information systems and cyber-attacks; (viii) the risk that we may not be able to effectively compete, including through product improvements and development; and (ix) other risks set forth in our public filings made with the SEC, including our most recent Annual Report on Form 10-K for the year ended December 31, 2024, as amended, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 to be filed with the SEC. Explanation of use of non-GAAP financial measures Set forth in the tables below are reconciliations of gross profit, gross margin, operating expenses, operating loss, operating margin, other expense, net loss inclusive of the non-controlling interest, net loss attributable to the Company, and loss per share - basic and diluted, attributable to the Company, and net cash provided by operating activities, in each case as reported based on generally accepted accounting principles in the United States ('GAAP'), to non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP other expense, non-GAAP net income (loss) inclusive of the non-controlling interest, non-GAAP net income (loss) attributable to the Company, non-GAAP net earnings (loss) per share - basic and diluted, attributable to the Company, and free cash flow, respectively. Such non-GAAP measures exclude acquisition-related expenses, amortization and adjustments (consisting of intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations), stock-based compensation expense, restructuring expenses, integration expenses, deferred compensation adjustments, goodwill impairments, professional fees and other expenses, amortization of pension actuarial losses, the tax effect of these adjustments to net loss and purchases of property, plant and equipment. These measures are used by management in our ongoing planning and annual budgeting processes. Additionally, we believe the presentation of these non-GAAP measures, when combined with the presentation of the most directly comparable GAAP financial measure, is beneficial to the overall understanding of ongoing operating performance of the Company. These non-GAAP financial measures are not prepared in accordance with, or an alternative for, GAAP and therefore should not be considered in isolation or as a substitution for analysis of our results as reported under GAAP. Additionally, our calculation of non-GAAP measures may not be comparable to similar measures calculated by other companies. Condensed Consolidated Statements of Loss (Unaudited) (In thousands, except per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (Restated) (Restated) Revenue Network Solutions $ 219,498 $ 179,194 $ 421,715 $ 360,467 Services & Support 45,570 46,797 91,097 91,697 Total Revenue 265,068 225,991 512,812 452,164 Cost of Revenue Network Solutions 147,321 124,773 281,562 253,039 Network Solutions - charges and inventory write-down — 143 — 8,925 Services & Support 18,823 19,816 37,150 38,626 Total Cost of Revenue 166,144 144,732 318,712 300,590 Gross Profit 98,924 81,259 194,100 151,574 Selling, general and administrative expenses 60,347 59,364 110,632 118,355 Research and development expenses 51,895 60,352 100,754 120,567 Goodwill impairment — — — 297,353 Operating Loss (13,318 ) (38,457 ) (17,286 ) (384,701 ) Interest and dividend income 201 366 327 763 Interest expense (4,564 ) (6,906 ) (9,325 ) (11,504 ) Net investment gain 3,075 872 1,389 3,125 Other (expense) income, net (2,636 ) (901 ) (1,692 ) 409 Loss Before Income Taxes (17,242 ) (45,026 ) (26,587 ) (391,908 ) Income tax (expense) benefit (1,016 ) (2,136 ) (619 ) 16,511 Net Loss $ (18,258 ) $ (47,162 ) $ (27,206 ) $ (375,397 ) Less: Net Income attributable to non-controlling interest (1) 2,273 2,505 4,592 5,035 Net Loss attributable to ADTRAN Holdings, Inc. $ (20,531 ) $ (49,667 ) $ (31,798 ) $ (380,432 ) Weighted average shares outstanding – basic 79,748 78,852 79,642 78,803 Weighted average shares outstanding – diluted 79,748 78,852 79,642 78,803 Loss per common share attributable to ADTRAN Holdings, Inc. – basic $ (0.24 ) (2) $ (0.63 ) $ (0.38 ) (2) $ (4.83 ) Loss per common share attributable to ADTRAN Holdings, Inc. – diluted $ (0.24 ) (2) $ (0.63 ) $ (0.38 ) (2) $ (4.83 ) (1) For the three and six months ended June 30, 2025 we accrued $2.4 million and $4.8 million, respectively, net income attributable to non-controlling interest, representing the recurring cash compensation earned by non-controlling interest shareholders post-DPLTA. For the three and six months ended June 30, 2024, we accrued $2.5 million and $5.0 million, respectively, representing the recurring cash compensation earned by non-controlling interest shareholders post-DPLTA. (2) Loss per common share attributable to ADTRAN Holdings, Inc. - basic and diluted - reflects a $1.5 million effect of redemption of RNCI for the three and six months ended June 30, 2025 Expand Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) June 30, 2025 2024 (Restated) Cash flows from operating activities: Net loss $ (27,206 ) $ (375,397 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 44,990 44,843 Goodwill impairment — 297,353 Amortization of debt issuance cost 639 1,013 Gain on investments, net (1,506 ) (2,867 ) Net loss on disposal of property, plant and equipment 24 185 Stock-based compensation expense 5,888 7,787 Deferred income taxes 1,189 (13,684 ) Other, net — (126 ) Inventory write down - business efficiency program — 4,135 Inventory reserves 9,176 3,722 Changes in operating assets and liabilities: Accounts receivable, net 25,754 23,415 Other receivables 1,416 6,279 Income taxes receivable, net (2,349 ) (918 ) Inventory 29,594 64,407 Prepaid expenses, other current assets and other assets 6,095 (18,139 ) Accounts payable (6,242 ) (3,966 ) Accrued expenses and other liabilities (11,305 ) 22,645 Income taxes payable, net (816 ) (2,878 ) Net cash provided by operating activities 75,341 57,809 Cash flows from investing activities: Purchases of property, plant and equipment (12,084 ) (24,971 ) Purchases of intangibles - developed technology (20,444 ) (5,725 ) Proceeds from sales and maturities of available-for-sale investments 727 956 Purchases of available-for-sale investments (243 ) (121 ) Payments for beneficial interests in securitized accounts receivable (49 ) — Net cash used in investing activities (32,093 ) (29,861 ) Cash flows from financing activities: Tax withholdings related to stock-based compensation settlements (1,223 ) (189 ) Proceeds from stock option exercises 1,163 219 Proceeds from receivables purchase agreement — 68,556 Repayments on receivables purchase agreement — (66,399 ) Proceeds from draw on revolving credit agreements 24,000 — Repayment of revolving credit agreements (24,000 ) (5,000 ) Payment of debt issuance cost (64 ) (1,994 ) Payment for redemption of redeemable non-controlling interest (19,363 ) (25 ) Net cash used in financing activities (19,487 ) (4,832 ) Net increase in cash and cash equivalents 23,761 23,116 Effect of exchange rate changes 6,489 902 Cash and cash equivalents, beginning of period 76,021 87,167 Cash and cash equivalents, end of period $ 106,271 $ 111,185 Supplemental disclosure of cash financing activities: Cash paid for interest $ 8,049 $ 6,554 Cash paid for income taxes, net of refunds $ 4,155 $ 7,433 Cash used in operating activities related to operating leases $ 5,236 $ 4,780 Supplemental disclosure of non-cash investing activities: Redemption of redeemable non-controlling interest $ 1,491 $ — Right-of-use assets obtained in exchange for lease obligations $ 3,538 $ 1,999 Purchases of property, plant and equipment included in accounts payable $ 1,450 $ 1,059 Expand Supplemental Information Reconciliation of Gross Profit and Gross Margin to Non-GAAP Gross Profit and Non-GAAP Gross Margin (Unaudited) (In thousands) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2025 2025 2024 2025 2024 (Restated) (Restated) Total Revenue $ 265,068 $ 247,744 $ 225,991 $ 512,812 $ 452,164 Cost of Revenue 166,144 152,568 144,732 $ 318,712 $ 300,590 Acquisition-related expenses, amortizations and adjustments (1) (10,599 ) (9,831 ) (10,064 ) (20,430 ) (20,241 ) Stock-based compensation expense (222 ) (267 ) (280 ) (489 ) (555 ) Restructuring expenses (2) — — (2,788 ) — (14,035 ) Integration expenses (3) — — (35 ) — (70 ) Non-GAAP Cost of Revenue $ 155,323 $ 142,470 $ 131,565 $ 297,793 $ 265,689 Gross Profit $ 98,924 $ 95,176 $ 81,259 $ 194,100 $ 151,574 Non-GAAP Gross Profit $ 109,745 $ 105,274 $ 94,426 $ 215,019 $ 186,475 Gross Margin 37.3 % 38.4 % 36.0 % 37.9 % 33.5 % Non-GAAP Gross Margin 41.4 % 42.5 % 41.8 % 41.9 % 41.2 % (1) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations. We incur charges relating to the amortization of intangible assets and exclude these charges for purposes of calculating our non-GAAP measures. Such charges are significantly impacted by the timing and magnitude of our acquisitions. We exclude these charges for the purpose of calculating our non-GAAP measures, primarily because they are noncash expenses and our internal benchmarking analyses evidence that many industry participants and peers present non-GAAP financial measures excluding intangible asset amortization. Although this does not directly affect our cash position, the loss in value of intangible assets over time can have a material impact on the equivalent GAAP earnings measure. (2) Includes expenses for a Business Efficiency Program designed to optimize the assets and business processes following the business combination with Adtran Networks. The Business Efficiency Program was completed as of December 31, 2024. (3) Includes expenses related to the Company's one-time integration bonus program in connection with synergy targets as a result of the business combination with Adtran Networks which was completed as of December 31, 2024. Expand Supplemental Information Reconciliation of Operating Expenses to Non-GAAP Operating Expenses (Unaudited) (In thousands) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2025 2025 2024 2025 2024 (Restated) (Restated) Operating Expenses $ 112,242 $ 99,144 $ 119,716 $ 211,386 $ 536,275 Acquisition-related expenses, amortizations and adjustments (1) (2,175 ) (2) (2,249 ) (8) (7,233 ) (11) (4,424 ) (14) (12,114 ) (16) Stock-based compensation expense (2,451 ) (3) (2,943 ) (9) (3,317 ) (12) (5,394 ) (15) (6,759 ) (17) Restructuring expenses 284 (4) — (10) (14,742 ) (13) 284 (4) (20,604 ) (18) Integration expenses (5) — — (531 ) — (1,011 ) Deferred compensation adjustments (6) (3,034 ) 1,547 (848 ) (1,487 ) (2,788 ) Goodwill impairment — — — — (297,353 ) (19) Professional fees and other expenses (3,153 ) (7) — — (3,153 ) (7) — Non-GAAP Operating Expenses $ 101,713 $ 95,499 $ 93,045 $ 197,212 $ 195,646 (1) We incur charges relating to the amortization of intangible assets and exclude these charges for purposes of calculating our non-GAAP measures. Such charges are significantly impacted by the timing and magnitude of our acquisitions. We exclude these charges for the purpose of calculating our non-GAAP measures, primarily because they are noncash expenses and our internal benchmarking analyses evidence that many industry participants and peers present non-GAAP financial measures excluding intangible asset amortization. Although this does not directly affect our cash position, the loss in value of intangible assets over time can have a material impact on the equivalent GAAP earnings measure. (2) Includes intangible amortization of developed technology, customer relationships, and trade names acquired in connection with business combinations, of which $1.7 million is included in selling, general and administrative expenses and $0.5 million is included in research and development expenses on the condensed consolidated statements of loss. (3) $1.8 million is included in selling, general and administrative expenses and $0.7 million is included in research and development expenses on the condensed consolidated statements of loss. (4) Includes true-up of expenses on the condensed consolidated statements of loss for a Business Efficiency Program designed to optimize the assets and business processes following the business combination with Adtran Networks. The Business Efficiency Program was completed as of December 31, 2024. (5) Includes expenses on the condensed consolidated statements of loss related to the Company's one-time integration bonus program in connection with synergy targets as a result of the business combination with Adtran Networks and which was completed as of December 31, 2024. (6) Includes non-cash change in fair value of equity investments held in the ADTRAN Holdings, Inc. Deferred Compensation Program for certain employees, all of which is included in selling, general and administrative expenses on the condensed consolidated statement of loss. (7) $3.2 million is included in selling, general and administrative expenses on the condensed consolidated statements of loss. Includes professional fees related to an internal investigation and related employee exit costs, fees relating to other one-time professional fees and business expenses. (8) Includes $2.2 million of intangible amortization of developed technology, customer relationships, and trade names acquired in connection with business combinations on the condensed consolidated statements of loss. (9) $2.0 million is included in selling, general and administrative expenses and $0.9 million is included in research and development expenses on the condensed consolidated statements of loss. (10) The Business Efficiency Program was completed as of December 31, 2024. (11) Includes intangible amortization of developed technology, customer relationships, and trade names acquired in connection with business combinations, of which $6.7 million is included in selling, general and administrative expenses and $0.5 million is included in research and development expenses on the condensed consolidated statements of loss. (12) $2.4 million is included in selling, general and administrative expenses and $0.9 million is included in research and development expenses on the condensed consolidated statements of loss. (13) $3.5 million is included in selling, general and administrative expenses and $11.3 million is included in research and development expenses on the condensed consolidated statements of loss. Includes expenses of $13.5 million of wage related and other charges due to the Greifswald facility closure in connection with the Business Efficiency Program, of which $2.6 million is included in selling, general and administrative and $10.9 million is included in research and development expenses on the condensed consolidated statements of loss. The Business Efficiency Program was completed as of December 31, 2024. (14) Includes intangible amortization of developed technology, customer relationships, and trade names acquired in connection with business combinations, of which $3.5 million is included in selling, general and administrative expenses and $0.9 million is included in research and development expenses on the condensed consolidated statements of loss. (15) $3.8 million is included in selling, general and administrative expenses and $1.6 million is included in research and development expenses on the condensed consolidated statements of loss. (16) Includes intangible amortization of developed technology, customer relationships, and trade names acquired in connection with business combinations, of which $11.2 million is included in selling, general and administrative expenses and $0.9 million is included in research and development expenses on the condensed consolidated statements of loss. (17) $4.9 million is included in selling, general and administrative expenses and $1.9 million is included in research and development expenses on the condensed consolidated statements of loss. (18) $5.3 million is included in selling, general and administrative expenses and $15.3 million is included in research and development expenses on the condensed consolidated statements of loss. Includes expenses of $13.5 million of wage related and other charges due to the Greifswald facility closure in connection with the Business Efficiency Program, of which $2.6 million is included in selling, general and administrative and $10.9 million is included in research and development expenses on the condensed consolidated statements of loss. The Business Efficiency Program was completed as of December 31, 2024. (19) Includes non-cash goodwill impairment charge related to our Services and Support reporting unit. The impairment primarily resulted from a decrease in projected revenue growth rates and EBITDA margins. Expand Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2025 2025 2024 2025 2024 (Restated) (Restated) Total Revenue $ 265,068 $ 247,744 $ 225,991 $ 512,812 $ 452,164 Operating Loss $ (13,318 ) $ (3,968 ) $ (38,457 ) $ (17,286 ) $ (384,701 ) Acquisition related expenses, amortizations and adjustments (1) 12,774 12,080 17,297 24,854 32,355 Stock-based compensation expense 2,673 3,210 3,597 5,883 7,314 Restructuring expenses (2) (284 ) — 17,530 (284 ) 34,640 Integration expenses (3) — — 566 — 1,080 Deferred compensation adjustments (4) 3,034 (1,547 ) 848 1,487 2,788 Goodwill impairment (5) — — — — 297,353 Professional fees and other expenses 3,153 (6) — — 3,153 (6) — Non-GAAP Operating Income (Loss) $ 8,032 $ 9,775 $ 1,381 $ 17,807 $ (9,171 ) Operating Margin -5.0 % -1.6 % -17.0 % -3.4 % -85.1 % Non-GAAP Operating Margin 3.0 % 3.9 % 0.6 % 3.5 % -2.0 % (1) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations. We incur charges relating to the amortization of intangible assets and exclude these charges for purposes of calculating our non-GAAP measures. Such charges are significantly impacted by the timing and magnitude of our acquisitions. We exclude these charges for the purpose of calculating our non-GAAP measures, primarily because they are noncash expenses and our internal benchmarking analyses evidence that many industry participants and peers present non-GAAP financial measures excluding intangible asset amortization. Although this does not directly affect our cash position, the loss in value of intangible assets over time can have a material impact on the equivalent GAAP earnings measure. (2) Includes expenses for the Company's Business Efficiency Program, which was designed to optimize the assets and business processes following the business combination with Adtran Networks. The Business Efficiency Program was completed as of December 31, 2024. (3) Includes expenses related to the Company's one-time integration bonus program in connection with synergy targets as a results of the business combination with Adtran Networks, which was completed as of December 31, 2024. (4) Includes non-cash change in fair value of equity investments held in the ADTRAN Holdings, Inc. Deferred Compensation Program for certain employees, all of which is included in selling, general and administrative expenses on the condensed consolidated statement of loss. (5) Non-cash impairment of goodwill in our Network Solutions reporting unit, necessitated by factors such as a decrease in the Company's market capitalization, cautious service provider spending due to economic uncertainty and continued elevated customer inventory adjustments. (6) $3.2 million is included in selling, general and administrative expenses on the condensed consolidated statements of loss. Includes professional fees related to an internal investigation and related employee exit costs, fees relating to other one-time professional fees and business expenses. Expand Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2025 2025 2024 2025 2024 (Restated) (Restated) Interest and dividend income $ 201 $ 126 $ 366 $ 327 $ 763 Interest expense (4,564 ) (4,761 ) (6,906 ) (9,325 ) (11,504 ) Net investment gain (loss) 3,075 (1,686 ) 872 1,389 3,125 Other (expense) income, net (2,636 ) 944 (901 ) (1,692 ) 409 Total Other Expense $ (3,924 ) $ (5,377 ) $ (6,569 ) $ (9,301 ) $ (7,207 ) Deferred compensation adjustments (1) (2,968 ) 1,649 (896 ) (1,319 ) (3,335 ) Pension expense (2) 11 11 7 22 14 Non-GAAP Other Expense $ (6,881 ) $ (3,717 ) $ (7,458 ) $ (10,598 ) $ (10,528 ) (1) Includes non-cash change in fair value of equity investments held in the ADTRAN Holdings, Inc. Deferred Compensation Program for Employees. (2) Includes amortization of actuarial losses related to the Company's pension plan for employees in certain foreign countries. Expand Supplemental Information Reconciliation of Net Loss inclusive of Non-Controlling Interest to Non-GAAP Net (Loss) Income inclusive of Non-Controlling Interest (Unaudited) and Reconciliation of Net Loss attributable to ADTRAN Holdings, Inc. and Loss per Common Share attributable to ADTRAN Holdings, Inc. – Basic and Diluted to Non-GAAP Net (Loss) Income attributable to ADTRAN Holdings, Inc. and Non-GAAP (Loss) Earnings per Common Share attributable to ADTRAN Holdings, Inc. – Basic and Diluted (Unaudited) (In thousands, except per share amounts) Three Months Ended Six Months Ended (Restated) (Restated) Net Loss attributable to ADTRAN Holdings, Inc. common stockholders $ (19,037 ) $ (11,270 ) $ (49,667 ) $ (30,307 ) $ (380,432 ) Effect of redemption of RNCI (1) (1,494 ) 3 — (1,491 ) — Net Loss attributable to ADTRAN Holdings, Inc. $ (20,531 ) $ (11,267 ) $ (49,667 ) $ (31,798 ) $ (380,432 ) Net Income attributable to non-controlling interest (2) 2,273 2,319 2,505 4,592 5,035 Net Loss inclusive of non-controlling interest $ (18,258 ) $ (8,948 ) $ (47,162 ) $ (27,206 ) $ (375,397 ) Acquisition related expenses, amortizations and adjustments (3) 12,774 12,080 17,297 24,854 32,355 Stock-based compensation expense 2,673 3,210 3,597 5,883 7,314 Deferred compensation adjustments (4) 66 102 (48 ) 168 (547 ) Pension adjustments (5) 11 11 7 22 14 Restructuring expenses (6) (284 ) — 17,530 (284 ) 34,640 Integration expenses (7) — — 566 — 1,080 Goodwill impairment — — — — 297,353 Professional fees and other expenses 3,153 (8) — — 3,153 (8) — Tax effect of adjustments to net loss (9) 388 (1,980 ) 780 (1,592 ) (17,746 ) Non-GAAP Net Income (Loss) inclusive of non-controlling interest $ 523 $ 4,475 $ (7,433 ) $ 4,998 $ (20,934 ) Net Income attributable to non-controlling interest (2) 2,273 2,319 2,505 4,592 5,035 Non-GAAP Net (Loss) Income attributable to ADTRAN Holdings, Inc. $ (1,750 ) $ 2,156 $ (9,938 ) $ 406 $ (25,969 ) Effect of redemption of RNCI (1) 1,494 (3 ) — 1,491 — Non-GAAP Net (Loss) Income attributable to ADTRAN Holdings, Inc. common stockholders $ (256 ) $ 2,153 $ (9,938 ) $ 1,897 $ (25,969 ) Weighted average shares outstanding – basic 79,748 79,534 78,852 79,642 78,803 Loss per common share attributable to ADTRAN Holdings, Inc. – basic $ (0.24 ) $ (0.14 ) $ (0.63 ) $ (0.38 ) $ (4.83 ) Loss per common share attributable to ADTRAN Holdings, Inc. – diluted $ (0.24 ) $ (0.14 ) $ (0.63 ) $ (0.38 ) $ (4.83 ) Non-GAAP (Loss) Earnings per common share attributable to ADTRAN – basic $ (0.00 ) $ 0.03 $ (0.13 ) $ 0.02 $ (0.33 ) Non-GAAP (Loss) Earnings per common share attributable to ADTRAN – basic $ (0.00 ) $ 0.03 $ (0.13 ) $ 0.02 $ (0.33 ) (1) Loss per common share attributable to ADTRAN Holdings, Inc. - basic and diluted - reflects a $1.5 million effect of redemption of RNCI for the three and six months ended June 30, 2025. (2) Represents the non-controlling interest portion of the Company's ownership of Adtran Networks pre-DPLTA and the annual recurring compensation earned by redeemable non-controlling interests and accrued by the Company post-DPLTA. (3) We incur charges relating to the amortization of intangible assets and exclude these charges for purposes of calculating our non-GAAP measures. Such charges are significantly impacted by the timing and magnitude of our acquisitions. We exclude these charges for the purpose of calculating our non-GAAP measures, primarily because they are noncash expenses and our internal benchmarking analyses evidence that many industry participants and peers present non-GAAP financial measures excluding intangible asset amortization. Although this does not directly affect our cash position, the loss in value of intangible assets over time can have a material impact on the equivalent GAAP earnings measure. (4) Includes non-cash change in fair value of equity investments held in deferred compensation plans offered to certain employees. (5) Includes amortization of actuarial losses related to the Company's pension plan for employees in certain foreign countries. (6) Includes expenses for a Business Efficiency Program designed to optimize the assets and business processes following the business combination with Adtran Networks. The Business Efficiency Program was completed as of December 31, 2024. (7) Includes expenses related to the Company's one-time integration bonus program in connection with synergy targets as a results of the business combination with Adtran Networks. Includes fees incurred for the expansion of internal controls at Adtran Networks and the implementation of the DPTLA which was completed as of December 31, 2024. (8) $3.2 million is included in selling, general and administrative expenses on the condensed consolidated statements of loss. Includes professional fees related to an internal investigation and related employee exit costs, fees relating to other one-time professional fees and business expenses. (9) Represents the tax effect of non-GAAP adjustments. Beginning in the period ended September 30, 2024, the Company changed its method of calculating non-GAAP income taxes by applying blended statutory tax rates to non-GAAP losses before income taxes in order to include current and deferred income tax expenses that are commensurate with the non-GAAP measure of profitability. The blended statutory tax rate is calculated using 0%, resulting in no tax benefits net of impact of valuation allowance, for the loss jurisdiction's non-GAAP losses before income taxes and 30% for all remaining jurisdictions' non-GAAP income before income taxes. Prior periods have been adjusted to reflect the application of blended statutory tax rates, net of impact of valuation allowance, to non-GAAP losses before income taxes as opposed to the previous application of blended statutory and effective tax rates to separate non-GAAP adjustments. We previously reported the tax effect of the adjustment to non-GAAP net loss under the prior method of $7.9 million and $13.5 million for the three months ended June 30, 2024 and six months ended June 30, 2024, respectively. Expand
Business Wire
2 hours ago
- Business Wire
Toshiba Releases Lens-Reduction Type CCD Linear Image Sensor with Low Random Noise That Helps Improve Image Quality in Devices Such as A3 Multifunction Printers
KAWASAKI, Japan--(BUSINESS WIRE)-- Toshiba Electronic Devices & Storage Corporation ("Toshiba") has launched a lens-reduction type [1] CCD [2] linear image sensor ' TCD2728DG ' for A3 multifunction printers. Shipments start today. The sensor has 7,500 image sensing elements (pixels) [3] and supports A3 multifunction printers. It is also more effective at reducing random noise (NDσ) [4] than Toshiba's current TCD2726DG. Business offices are seeing a growing need for high-speed, high-resolution copying and scanning of large volumes of different kinds of documents. This is particularly true for A3 multifunction printers, where improving image quality has become an important issue, and NDσ in the signal has to be suppressed to enhance image quality. TCD2728DG has lower output amplifier gain [5] than Toshiba's current product, TCD2726DG, and reduces NDσ by approximately 40% [6]. This improvement enhances image quality in multifunction printers. The new CCD linear sensor achieves a data rate of 100 MHz (50 MHz × 2 channels), enabling high-speed processing of large volumes of images. This makes it well-suited for line scan cameras used in inspection systems that require real-time decision-making. Toshiba will continue to expand its product lineup to support scanning by multifunction printers and the sensing applications of inspection devices, and to meet growing demand for high-speed, high-resolution imaging and sensing technologies. Notes: [1] The method of reducing an image with optical lenses and projecting it onto a CCD or CMOS image sensor. [2] CCD: Charge Coupled Device [3] Number of pixels required to scan the short side (297 mm) of A3 size at a resolution of 600 dpi. (dpi (dots per inch): number of divisions per inch) A3 size converted to inches: 297 mm / 25.4 mm ≒ 11.7 inches 11.7 × 600 = 7,020 pixels --> Allowing for margin, 7,500 pixels [4] Irregular noise that affects the quality of the image. [5] A circuit to adjust the amplification of the output signal. Amplification and noise are proportional. [6] Comparison with Toshiba's current product TCD2726DG. Values measured by Toshiba. Expand Applications A3 multifunction printers (resolution of 600 dpi) 7500-pixel line scan camera for various inspection systems (semiconductor inspection equipment, food sorting equipment, etc.) Features Reduces random noise by approximately 40% [6] High-speed CCD linear image sensor: Data rate =100MHz (Master clock frequency 50MHz × 2ch) (max) The built-in timing generator circuit [7] and CCD driver help facilitate system development [7] Circuit for generating signals necessary to drive a linear image sensor. Expand Main Specifications (Ta=25°C) Part number TCD2728DG Power supply voltage (operating range) (V) V AVDD, V DVDD, V CKDVDD: 3.1 to 3.5 V VDD10: 9.5 to 10.5 Random noise NDσ (mV) 1.9 Pixel size (μm) 4.7 × 4.7 Number of image sensing elements 7500 elements × 3 lines Data rate Max 100MHz (50MHz × 2ch) Package WDIP32 Others / Additional features Timing generator circuit, CCD driver Expand Follow the link below for more on the new product. TCD2728DG Follow the link below for more on Toshiba's linear image sensors. Linear Image Sensors * Company names, product names, and service names may be trademarks of their respective companies. * Information in this document, including product prices and specifications, content of services and contact information, is current on the date of the announcement but is subject to change without prior notice. About Toshiba Electronic Devices & Storage Corporation Toshiba Electronic Devices & Storage Corporation, a leading supplier of advanced semiconductor and storage solutions, draws on over half a century of experience and innovation to offer customers and business partners outstanding discrete semiconductors, system LSIs and HDD products. Its 19,400 employees around the world share a determination to maximize product value, and to promote close collaboration with customers in the co-creation of value and new markets. The company looks forward to building and to contributing to a better future for people everywhere. Find out more at
Business Wire
2 hours ago
- Business Wire
AGL Investors Have Opportunity to Join agilon health, inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of agilon health, inc. ('Agilon' or 'the Company') (NYSE: AGL) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Agilon announced on August 4, 2025, that President and CEO Steven Sell was stepping down immediately. The Company also withdrew its full-year 2025 financial guidance. Based on this news, shares of Agilon fell by more than 27.2% in after hours trading on the same day. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
