ADTRAN Holdings Inc. announced a regulatory issue involving its majority-owned subsidiary, Adtran Networks SE, which led to a revision of its financial statements. During the finalization of Networks' 2024 financial statements, an inventory adjustment was discovered, increasing the cost of goods sold and resulting in a €5.7 million increase in their 2024 loss. This finding prompted ADTRAN Holdings to reassess and adjust its consolidated financial statements for both 2023 and 2024. As a result, financial reports for several periods within these years are no longer reliable and will be restated. The company is also addressing an identified material weakness in its internal controls and plans to file amended reports with the SEC while rescheduling its Annual Meeting to reflect these changes.
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