CALIX, INC SEC 10-Q Report

Calix, Inc., a leading provider of cloud and software platforms, has released its Form 10-Q report for the first quarter of 2025. The report highlights the company's financial performance amidst an industry slowdown and provides insights into its operational activities and future outlook.

Financial Highlights

• Revenue: $220.2 million, a decrease of 3% compared to the same period in 2024 due to industry slowdown and lower international shipments.
• Gross Profit: $122.7 million, remained relatively flat with a slight increase in gross margin to 55.7% due to growth in platform, cloud, and managed services.
• Operating Loss: $(6.1) million, increased from $(2.0) million in the same period in 2024, primarily due to higher sales and marketing expenses.
• Net Income (Loss): $(4.8) million, compared to $0.1 million in the same period in 2024, impacted by increased operating expenses.
• Net Income (Loss) Per Common Share: $(0.07), compared to $0.00 in the same period in 2024, reflecting the net loss for the period.

Business Highlights

• Revenue Segments: The company's revenue is segmented by customer size, with large customers contributing $21.6 million, medium customers $24.9 million, and small customers $173.7 million for the three months ended March 29, 2025. This represents a 34% increase in revenue from large customers, while medium and small customer segments saw declines of 11% and 5%, respectively.
• Geographical Performance: The United States accounted for 96% of the company's revenue, totaling $211.2 million, while international revenue decreased to $9.1 million, representing 4% of total revenue. The decline in international revenue was primarily due to lower shipments to Europe and the Americas outside the United States.
• Sales Units: The company has approximately 1,600 active customers deploying various network systems, indicating a broad customer base across different service provider types.
• Future Outlook: The company anticipates that its investments in sales and marketing will increase slightly in absolute dollars but decline as a percentage of revenue. Research and development expenses are expected to remain flat in absolute terms but decrease as a percentage of revenue as the company continues to expand its platform, cloud, and managed services.

SEC Filing: CALIX, INC [ CALX ] - 10-Q - Apr. 22, 2025