Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 118

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 2
Chunk 118
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 of $2.1 million, depreciation and amortization of $0.9 million and prototypes and test equipment expenses of $0.9 million. These increases were partially offset by decreases in personnel expenses of $2.2 million and outside services of $0.9 million.

For the three and six months ended June 28, 2025, research and development expenses as a percentage of gross profit decreased to 34% from 41% and 35% from 38%, respectively, due to the increase in revenue and gross margin. 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 and gross profit, 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 EndedSix Months Ended June 28,2025June 29,2024VarianceinDollarsVarianceinPercentJune 28,2025June 29,2024VarianceinDollarsVarianceinPercentGeneral and administrative expenses$26,464 $22,598 $3,866 17 %$53,214 $48,888 $4,326 9 %Percent of revenue11 %11 %12 %12 %

General and administrative expenses for the three months ended June 28, 2025 increased by $3.9 million as compared with the corresponding period in 2024 mainly due to increases in stock-based compensation of $1.7 million, personnel expenses of $1.2 million, mostly related to incentive compensation, and professional services expenses of $0.8 million.

General and administrative expenses for the six months ended June 28, 2025 increased by $4.3 million as compared with the corresponding period in 2024 mainly due to increases in personnel expenses of $2.8 million and stock-based compensation of $2.3 million. These increases were partially offset by a decrease in professional services expenses of $1.0 million.

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For the three and six months ended June 28, 2025, general and administrative expenses as a percentage of revenue were flat compared to the same periods in 2024. We expect our general and administrative investments to be fairly constant in absolute dollars in the near term and decline as a percentage of revenue.

Interest and Other Expense, net