Thank conference you everyone. ADTRAN appreciate me very much. Good We third is Dopfer. you morning, our for quarter joining Holdings today call. us CFO, Ulrich XXXX earnings With
may opening and have. performance Ulrich remarks, the review in my then quarterly any detail, take financial you Following we'll will that questions
Before by quarter, we reflecting announcement that off yesterday. I'll the start made addressing the on
We a to our have leaner, profitable to more decisive taken company. transform more and business steps efficient
have focused efficiency. areas: a already expanded business implemented have program efficiency and cost efficiency We key recently and X in capital
the the On streamlining align consolidation. the to discontinuation the and operations of products, includes with legacy program noncore market savings of from the environment operational site efficiency current cost side,
ADTRAN of to cost program while our operating generate site in consolidation. to These expenses quarterly and the suspension are growth and this Holdings products the preserving core dividend efficiency of a reduction portion from includes capital XX% savings operational our program expected substantial in cash QX QX proceeds year, non-GAAP investment The of from regions. the
quarterly dividend, come ADTRAN this Holdings decision the not Regarding lightly. to suspend did the decision
we in by the expense. from reduce debt our that we appropriate an and cash dividend input value use aligns those that reached long shareholders investors received outstanding. interest term believe input mechanism, redirecting we the than responded Although be more term can investors of and assessment will we time. our The the dividend that both in benefit near dividend of XX% with believe to preferred the This shares of our capital recent the the requested survey we is survey from at indicated with where total majority out a this their as that held to not delivery
including we of produce improving cash Overall, towards will and $XXX be will efficiency to up in program, result the paying in consolidation down million XXXX, the structure. site capital our expect which that applied capital debt
easily this we leaner, program, of to of more company to profitable course, and past these uncertainty once out a market get higher more drive Coming headwinds. can efficient we be navigate expect and near-term one and market that returns
the this The were regional Moving pointing categories the regions in changes quarter. in first to results third product year, half the serving. we're that revenues with the are there of no or fundamental that and split demand for out mix product consistent of
we However, and cautiousness and a spending did customers slowdown quarter. the in approach service provider for This to lead general slower conditions. more as larger midsize with they inventory revenue continue given levels took our uncertain see a macroeconomic the to did cautious reduce
regional broadband and universities, provider data and applications. web institutions quarters. optical for network most enterprise financial relative previous purchasing primarily Looking private customers stability and service solutions segment to large interconnect government across large center scale of showed our base, customer customer consists customers our companies enterprise the public The
of replacement, high-risk good network fiber fiber U.S. making still vendor view, U.K. we and continue footprint networks providers Taking long-term across driven on key the a software the service by synergies regional and platforms. fiber to of capture, cross-selling The initiatives be adoption build-out the our progress around are
customer headwinds. more market operators fiber recovers the sustainable we long-term the from the the initiatives with quarter. Starting home to during are growth XX These drive acquisition, the near-term that added will after
well selling broadband in these on bring in the make solutions U.S. XXXX like interest through This success growth portfolio, including packet impact our and our them SaaS having the portfolio. programs is we increasing expected driving while in-home funding in we aligned in applications As also complete fiber-to-the-home XXXX. our us still WiFi operators, optical late BEAD to with with ahead large of are
key Looking be projects, U.S., vendor Metro to awarded were vendors X we outside in quarter, initiatives. of replacement of beneficiaries awarded WDM continue In likely the the been have would which the past. to biggest high-risk we past this X high-risk X Tier
of we quarter, provider over and funnel side, fit OLT shipped is new platform opportunities ports SDX these this for platform well fiber-to-the-home the for XX,XXX customers. an service the our that where in have XXXX are On large we we in ideal Europe, flagship the considering multiple positioned past success this
of While replacement both this material the produce in fiber-to-the-home revenue year, market to on in in years. won't OLT vendor are we for the next market leader some Metro X within and solutions these pace become initiatives WDM Europe share
packet in space, in the -- our provider course, good access of our of to momentum U.S. we a optical of regional service continue of service including providers, pluggable regional match portfolio are, our and modules. that in needs is to footprint to Europe. expanding build portfolio timing the new We our opportunities enhancements The targeted optical fiber to trans these coherent across are
terminals for of gig optimized optical regional optimized cost, that system XXX a networks generation line and space and new ready. are power open Our
broad pluggable already deployments. quarter, future coherent ZR XXX this of trials module, for are which we the received is and we launching highly anticipated For range customers, orders have across a
the WiFi launch additions quarter, side, customers Intellifi, new more total. than SaaS high-performance Mosaic This growth software to paired of WiFi WiFi a XXX of of number a adoption cloud-managed any form solution added factor. speeds XE been has XX One the launch Mosaic the we in in next-generation multi-gig by X, with the X in our deliver WiFi quarter, customers that One driving aided the in highest recent On second platforms compact in and in
this broader adoption platforms. and both platforms software ahead the our SaaS in growth portfolio continued enhancement quarters the our the in expect and in-home of We of given
In our This and and leading and addition grow associated our portion our management high infrastructure of and we platforms. recurring company towards continue revenue SaaS at XX% with margins, revenue our software base network to software-related that maintenance offerings, to streams of hardware total our more more while of revenue the predictability opportunities point than in contributing steady this generates network revenue offers growth time.
against and services. broader continue access market adoption then to summary, fiber capturing including our we of and challenges, the with and software drive progress goals. our we still Europe optical subscriber and complete In Despite focus led fiber footprint on platforms, U.S. applications by portfolio, transport these platforms, made
remain base, we and in ongoing segment. are of more customer period our in market large service outlook, our in spending uncertainty due While long-term capital a service very to the customer particularly restrained confident across provider we inventory reductions
forecast This cautious uncertainty take our to approach to with us a more operating led pushouts year, this in order more driving model. and QX QX and of
for decreased are have early now during consistent We non-GAAP past targets scenario additional XXXX. We our result, operating reduction with -- persist expense we a which expense set in the planning levels for a year. targets, we stated current As next could headwinds and through the previously quarter,
an stated expanded efficiency X% this of past non-GAAP QX. expenses in quarter earlier, reduced additional -- this operating were quarter see program. XX% as expenses our additional operating we And reduction to as expect to Non-GAAP relative part
core our are investing on and future the achieving those we still As in to focused in that are cost and products earlier, growth regions our in optimizations still mind. noted planned with are and
and improving navigate high-growth For margins new after and capture customer continued that operational on market. positioned cost us growth headwinds well we continued the in capture, focus product are regions, for our our customer innovation, in has focus savings on long-term
our then remarks, we'll any over following that, open questions will to Uli you have. provide financial And With results. it I up Uli's turn to that may review a Uli? things of to
