5/5ADTRAN Holdings, Inc. (ADTN): Non-reliance / restatement

Market data

Price before filing: $8.31 (2025-05-12 close, split/dividend-adjusted)
Market cap at flag: $682.6M (2025-05-13) · Latest: $508.8M (2026-10-16)

What happened next

Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.

Insider trading around this filing

90 days before the flag: no open-market insider sales or purchases reported.
30 days after: none reported.

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-12 to 2025-06-12. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.

Verified excerpt

"Based on the findings of the investigation, which is substantially complete, it has been determined that the underlying error giving rise to the Adjustment was not properly addressed in the Company's financial statements for Fiscal 2024 (the "2024 Financial Statements") and was not communicated to the Audit Committee or the independent auditors prior to the filing of the 2024 Form 10-K. As a result of the..."

Quoted from the filing. Source

What this means

The company says previously issued financial statements should no longer be relied upon (8-K Item 4.02). This is one of the most serious accounting red flags: past reported numbers were wrong and will be restated.

Why this score: also within 90 days: Late quarterly report (NT 10-Q)