Company: CALX
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001406666-25-000016
Chunk: 104

Company: CALIX, INC
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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442)(1)%Percent of revenue20 %20 %Percentage of gross profit36 %36 %

Research and development expenses for the three months ended March 29, 2025 decreased by $0.4 million as compared with the corresponding period in 2024 mainly due to decreases in personnel expenses of $1.4 million and outside services of $1.2 million. These decreases were partially offset by increases in prototypes and test equipment expenses of $0.7 million, stock-based compensation of $0.6 million and depreciation and amortization of $0.4 million.

For the three months ended March 29, 2025, research and development expenses as a percentage of revenue was flat compared to the same period in 2024. We expect our investments in research and development to remain relatively flat in absolute dollars in the short term, and decline as a percentage of revenue, as we continue to expand the functionality and capabilities of our platform, cloud and managed services.

General and Administrative Expenses

The following table sets forth our general and administrative expenses (dollars in thousands):

 Three Months Ended March 29,2025March 30,2024VarianceinDollarsVarianceinPercentGeneral and administrative expenses$26,750 $26,290 $460 2 %Percent of revenue12 %12 %

General and administrative expenses for the three months ended March 29, 2025 increased by $0.5 million as compared with the corresponding period in 2024 mainly due to increases in personnel expenses of $1.6 million and stock-based compensation of $0.6 million. These increases were partially offset by decreases in professional services expenses of $1.8 million.

For the three months ended March 29, 2025, general and administrative expenses as a percentage of revenue were flat compared to the same period in 2024. We expect our general and administrative investments to be fairly constant in absolute dollars in the near term, but decline as a percentage of revenue.

Interest and Other Expense, net

The following table sets forth our interest and other expense, net (dollars in thousands): Three Months Ended March 29,2025March 30,2024VarianceinDollarsVarianceinPercentInterest and other expense, net$3,091 $2,500 $591 24 %Percent of revenue1 %1 %

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Interest and other expense, net increased by $0