ADTRAN shareholders were hit by an approximately 15% decline after preliminary Q2 2026 revenue and operating margin came in below the Company's stated ranges. The investigation focuses on investor losses following ADTRAN’s disclosure of preliminary Q2 2026 operating results that fell below its previously issued guidance.

ADTRAN Holdings (NASDAQ: ADTN) shares fell approximately 15% on July 22, 2026 after the company announced preliminary unaudited Q2 2026 revenue of $280 million to $282 million and non-GAAP operating margin of about 3.5% to 4.0%, both below its guidance of $283 million to $303 million in revenue and 5% to 9% non-GAAP operating margin. If this decline hit your ADTN investment, you are encouraged to submit your information now. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

On the Q1 2026 call, CFO Timothy Santo stated: "We expect revenue to be between $283 million and $303 million, and non-GAAP operating margin within a range of 5% to 9%." The preliminary figures placed revenue $1 million to $23 million below that range and operating margin at least 100 basis points below the bottom of the stated range.

An investor presentation attached to a May 5, 2026 Form 8-K reported revenue of $286.1 million, up 15.5% year-over-year and within prior guidance of $275 million to $295 million. The preliminary Q2 revenue range of $280 million to $282 million was approximately $4.1 million to $6.1 million below analyst consensus estimate. Levi & Korsinsky is reviewing losses suffered by investors after these figures reached the market.

If ADTN losses affected your account, find out if you might qualify to recover losses. You may also contact Joseph E. Levi, Esq. at (212) 363-7500.

Levi & Korsinsky, LLP -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.

Frequently Asked Questions About the ADTN Investigation

Q: Which ADTRAN statements are being reviewed in the ADTN investigation? A: The investigation concerns ADTRAN Holdings' revenue and operating margin statements, including Q2 2026 guidance of $283 million to $303 million in revenue and 5% to 9% non-GAAP operating margin, before preliminary Q2 figures of $280 million to $282 million and 3.5% to 4.0%.

Q: How much did ADTN stock drop? A: ADTN shares declined approximately 15% after ADTRAN reported preliminary unaudited Q2 2026 revenue and operating margin below the Company's stated ranges.

Q: Who is eligible to participate in the ADTN investigation? A: Investors who purchased ADTN stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: What do ADTN investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.

Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my ADTN shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought ADTN and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate? A: There is no upfront cost to participate. Securities investigations and any resulting investor matters are generally handled on a contingency basis. No upfront fees, no retainer, and no out-of-pocket costs.

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