DZS INC. | Understand Stock

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Nov 12, 2024. Its latest SEC filing is a 4 from Dec 17, 2025.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Sells equipment for broadband and mobile networks, connected-home devices, and network software to carriers, service providers, and enterprises.

How Did They Make Money?

DZS sells networking products and services. Product sales are generally tied to shipment or delivery, while support contracts are invoiced in advance and services are provided over the contract term.

FY2023 revenue

Who Were Their Customers?

DZS generally sells directly to carriers and service providers, which serve businesses, governments, utilities and residential subscribers; it also sells through system integrators and distributors to enterprises and government customers.

Customers above 10% of revenue, FY2023

of revenue from one customer

FY2022: no customer at 10% or more of revenue

Did Revenues Turn Into Profits?

No. It lost $135.2M in FY2023.

Operating income, FY2023

−53% of revenue

▲ +248% (Loss) vs FY2022 (−$37M, −10%)

Net income, FY2023

−55% of revenue

▲ +228% (Loss) vs FY2022 (−$41.3M, −12%)

Free cash flow, FY2023

−19% of revenue

▼ −14% (Loss) vs FY2022 (−$55.1M, −15%)

How Were They Changing?

Since the FY2023 annual report

Latest quarter: Q3 FY2024, the three months to Sep 30, 2024

Revenue: ▲ +68%; vs $22.7M in Q3 FY2023
Net income: ▼ −25% (Loss); vs −$34M in Q3 FY2023

Mar 14, 2025 DZS filed for Chapter 7 bankruptcy and ceased substantially all operations A trustee will take control of the assets, liquidate them and pay claims according to bankruptcy law.
Dec 30, 2024 DZS sold its industrial internet of things business to Lantronix
Oct 29, 2024 DZS sold its network assurance and WiFi management software portfolio

Shrank. Revenue fell 20% in 4 years, from $306.9M in FY2019 to $244.5M in FY2023, about 6% a year.

Broader software portfolio The older report described software-defined networking and network-function virtualization as a strategy and mentioned planned cloud-managed Wi-Fi and analytics; the latest report describes a software portfolio for orchestration, automation, network assurance, analytics and home Wi-Fi management.

Fixed wireless and connected devices The latest report says the NetComm acquisition added fixed wireless access, fiber extension, and products for connecting industrial devices; the older portfolio description centered on mobile transport and fixed broadband access.

Optical transport The latest business description gives optical transport a distinct portfolio alongside mobile transport; the older description focused on mobile transport systems.

Who Did They Compete With?

Competes with ADTRAN, Calix, Huawei, Nokia, ZTE, Cisco, Tellabs, Ciena, Infinera, Juniper Networks, and Solarwinds