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Side-by-side financial comparison of ADTRAN Holdings, Inc. (ADTN) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
ADTRAN Holdings, Inc. is the larger business by last-quarter revenue ($291.6M vs $188.3M, roughly 1.5× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs -1.2%, a 49.2% gap on every dollar of revenue. On growth, ADTRAN Holdings, Inc. posted the faster year-over-year revenue change (20.1% vs -21.9%). Over the past eight quarters, ADTRAN Holdings, Inc.'s revenue compounded faster (13.5% CAGR vs -15.4%).
Adtran, Inc. is an American fiber networking and telecommunications company headquartered in Huntsville, Alabama. It is a vendor of both residential and enterprise networking equipment, along with administrative software for network management and deployment. Its customers include communications service providers, governments, enterprises and utilities.
ADTN vs RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $291.6M | $188.3M |
| Net Profit | $-3.6M | $90.3M |
| Gross Margin | 39.0% | 79.5% |
| Operating Margin | 1.5% | 32.3% |
| Net Margin | -1.2% | 47.9% |
| Revenue YoY | 20.1% | -21.9% |
| Net Profit YoY | 92.2% | 1710.8% |
| EPS (diluted) | $-0.02 | $2.78 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $291.6M | $188.3M | ||
| Q3 25 | $279.4M | $215.3M | ||
| Q2 25 | $265.1M | $188.2M | ||
| Q1 25 | $247.7M | $197.2M | ||
| Q4 24 | $242.9M | $241.0M | ||
| Q3 24 | $227.7M | $225.5M | ||
| Q2 24 | $226.0M | $256.0M | ||
| Q1 24 | $226.2M | $263.4M |
| Q4 25 | $-3.6M | $90.3M | ||
| Q3 25 | $-10.3M | $91.1M | ||
| Q2 25 | $-20.5M | $139.5M | ||
| Q1 25 | $-11.3M | $-10.0M | ||
| Q4 24 | $-46.1M | $-5.6M | ||
| Q3 24 | $-33.3M | $-284.4M | ||
| Q2 24 | $-49.7M | $-433.6M | ||
| Q1 24 | $-330.8M | $-49.2M |
| Q4 25 | 39.0% | 79.5% | ||
| Q3 25 | 38.3% | 83.7% | ||
| Q2 25 | 37.3% | 81.3% | ||
| Q1 25 | 38.4% | 81.4% | ||
| Q4 24 | 36.9% | 79.8% | ||
| Q3 24 | 36.5% | 82.1% | ||
| Q2 24 | 36.0% | 84.5% | ||
| Q1 24 | 31.1% | 85.3% |
| Q4 25 | 1.5% | 32.3% | ||
| Q3 25 | -1.0% | 30.4% | ||
| Q2 25 | -5.0% | 5.7% | ||
| Q1 25 | -1.6% | -31.2% | ||
| Q4 24 | -6.9% | -69.2% | ||
| Q3 24 | -11.5% | -36.4% | ||
| Q2 24 | -17.0% | -90.8% | ||
| Q1 24 | -153.1% | -6.1% |
| Q4 25 | -1.2% | 47.9% | ||
| Q3 25 | -3.7% | 42.3% | ||
| Q2 25 | -7.7% | 74.1% | ||
| Q1 25 | -4.5% | -5.1% | ||
| Q4 24 | -19.0% | -2.3% | ||
| Q3 24 | -14.6% | -126.1% | ||
| Q2 24 | -22.0% | -169.4% | ||
| Q1 24 | -146.2% | -18.7% |
| Q4 25 | $-0.02 | $2.78 | ||
| Q3 25 | $-0.12 | $2.91 | ||
| Q2 25 | $-0.24 | $4.50 | ||
| Q1 25 | $-0.14 | $-0.39 | ||
| Q4 24 | $-0.58 | $-0.01 | ||
| Q3 24 | $-0.38 | $-9.39 | ||
| Q2 24 | $-0.63 | $-14.35 | ||
| Q1 24 | $-4.20 | $-1.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $95.7M | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $145.8M | $-171.5M |
| Total Assets | $1.2B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.7M | $226.6M | ||
| Q3 25 | $93.7M | $184.2M | ||
| Q2 25 | $106.3M | $267.4M | ||
| Q1 25 | $101.3M | $138.3M | ||
| Q4 24 | $76.0M | $146.9M | ||
| Q3 24 | $88.5M | $159.2M | ||
| Q2 24 | $111.2M | $236.9M | ||
| Q1 24 | $106.8M | $190.7M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $145.8M | $-171.5M | ||
| Q3 25 | $141.6M | $-260.5M | ||
| Q2 25 | $169.6M | $-351.7M | ||
| Q1 25 | $138.9M | $-496.8M | ||
| Q4 24 | $127.0M | $-488.2M | ||
| Q3 24 | $205.6M | $-497.6M | ||
| Q2 24 | $213.6M | $-218.3M | ||
| Q1 24 | $260.8M | $228.4M |
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $1.3B | $3.2B | ||
| Q1 24 | $1.3B | $5.0B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $42.2M | $26.2M |
| Free Cash FlowOCF − Capex | $30.6M | — |
| FCF MarginFCF / Revenue | 10.5% | — |
| Capex IntensityCapex / Revenue | 4.0% | — |
| Cash ConversionOCF / Net Profit | — | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $98.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.2M | $26.2M | ||
| Q3 25 | $12.2M | $-60.6M | ||
| Q2 25 | $32.2M | $-25.6M | ||
| Q1 25 | $43.2M | $184.0K | ||
| Q4 24 | $2.4M | $-2.7M | ||
| Q3 24 | $43.3M | $19.5M | ||
| Q2 24 | $19.9M | $111.5M | ||
| Q1 24 | $37.9M | $135.4M |
| Q4 25 | $30.6M | — | ||
| Q3 25 | $4.2M | — | ||
| Q2 25 | $27.5M | — | ||
| Q1 25 | $35.8M | — | ||
| Q4 24 | $-895.0K | — | ||
| Q3 24 | $37.1M | — | ||
| Q2 24 | $8.4M | — | ||
| Q1 24 | $24.4M | — |
| Q4 25 | 10.5% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 10.4% | — | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | -0.4% | — | ||
| Q3 24 | 16.3% | — | ||
| Q2 24 | 3.7% | — | ||
| Q1 24 | 10.8% | — |
| Q4 25 | 4.0% | — | ||
| Q3 25 | 2.9% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 3.0% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 6.0% | — |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | -0.66× | ||
| Q2 25 | — | -0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADTN
| Subscriber Solutions | $96.2M | 33% |
| Optical Networking Solutions | $81.8M | 28% |
| Access Aggregation Solutions | $64.6M | 22% |
| Services And Support | $48.9M | 17% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
