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Condensed Consolidated Statements of Loss (Income) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue        
Total Revenue $ 327,378 $ 172,038 $ 651,290 $ 326,556
Cost of Revenue        
Total Cost of Revenue 234,825 109,532 470,929 209,734
Gross Profit 92,553 62,506 180,361 116,822
Selling, general and administrative expenses 66,583 27,873 133,980 55,766
Research and development expenses 70,598 26,500 140,741 52,991
Operating (Loss) Income (44,628) 8,133 (94,360) 8,065
Interest and dividend income 358 217 662 421
Interest expense (4,064) (94) (7,351) (124)
Net investment gain (loss) 1,262 (4,646) 2,514 (8,061)
Other income, net 2,494 681 2,191 455
(Loss) Income Before Income Taxes (44,578) 4,291 (96,344) 756
Income tax benefit (expense) 8,363 (2,148) 19,676 260
Net (Loss) Income (36,215) 2,143 (76,668) 1,016
Less: Net Income attributable to non-controlling interest [1] 2,882   2,512  
Net (Loss) Income attributable to ADTRAN Holdings, Inc. $ (39,097) $ 2,143 $ (79,180) $ 1,016
Weighted average shares outstanding – basic 78,366 49,123 78,364 49,110
Weighted average shares outstanding – diluted 78,366 49,809 78,364 49,813
(Loss) earnings per common share attributable to ADTRAN Holdings, Inc. - basic $ (0.5) $ 0.04 $ (1.01) $ 0.02
(Loss) earnings per common share attributable to ADTRAN Holdings, Inc. - diluted $ (0.5) $ 0.04 $ (1.01) $ 0.02
Network Solutions [Member]        
Revenue        
Total Revenue $ 283,002 $ 155,992 $ 565,420 $ 294,366
Cost of Revenue        
Total Cost of Revenue 216,960 99,921 436,090 190,575
Gross Profit 66,042 56,071 129,330 103,791
Services & Support [Member]        
Revenue        
Total Revenue 44,376 16,046 85,870 32,190
Cost of Revenue        
Total Cost of Revenue 17,865 9,611 34,839 19,159
Gross Profit $ 26,511 $ 6,435 $ 51,031 $ 13,031
[1] For the three and six months ended June 30, 2023, we have recognized $2.9 million and $5.7 million, respectively, representing the recurring cash compensation earned by non-controlling interest shareholders post-DPLTA, partially offset by a $3.2 million net loss attributable to non-controlling interests pre-DPLTA for the six months ended June 30, 2023.