ADTRAN Holdings, Inc. (NASDAQ:ADTN) Q3 2024 Earnings Conference Call November 7, 2024 10:30 AM ET
Corporate Participants
Tom Stanton - Chief Executive Officer
Uli Dopfer - Chief Financial Officer
Conference Call Participants
George Notter - Jefferies
Michael Genovese - Rosenblatt Securities
Tim Savageaux - Northland Capital Markets
Bill Dezellem - Teiton Capital
Ryan Koontz - Needham & Company
Operator
Ladies and gentlemen, thank you for standing by and welcome to the ADTRAN Holdings Incorporated Third Quarter 2024 Earnings Release Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer period. [Operator Instructions].
During the course of the conference call, ADTRAN representatives expect to make forward-looking statements that reflect management's best judgment based on factors currently known. However, these statements involve risks and uncertainties, including the risks detailed in our earnings release, our annual report on Form 10-K, and our filings with the SEC. These risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements which may be made during the call. We undertake no obligation to update any statement to reflect the events that occur after this call.
In addition, the financial measures discussed during the course of this conference call are preliminary estimates. They consequently remain subject to the company's internal controls and procedures and are subject to risks and uncertainties, including, among others, changes in connection with quarter-end adjustments. Finally, during the course of today's call, we will refer to certain preliminary non-GAAP financial measures.
Reconciliations of non-GAAP to GAAP measures and certain additional information are also included in our investor presentation and our earnings release. The investor presentation found on ADTRAN Investor Relations' website has been updated and is available for download.
It is now my pleasure to turn the call over to Tom Stanton, Chief Executive Officer of ADTRAN Holdings. Sir, please go ahead.
Tom Stanton
Thank you, Rochelle. Good morning, everyone. We appreciate you joining us for our third quarter 2024 earnings conference call.
With me today is ADTRAN Holdings' CFO, Uli Dopfer. Following my opening remarks, Uli will review the quarterly financial performance in detail, and then we will take any questions you may have.
We executed according to plan in Q3 and made improvements across several key operating metrics. During the quarter, we continued to grow our non-GAAP operating profit and generated positive free cash flow for the third consecutive quarter. Our quarter-over-quarter performance was driven by further improvements in our non-GAAP gross margin as we maintained our reduced cost structure and grew revenue. During the quarter, we also saw signs of further improvement in customer activity and bookings.