Company: CALX
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001406666-25-000016
Chunk: 26

Company: CALIX, INC
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 following table sets forth our sales and marketing expenses (dollars in thousands):

 Three Months Ended March 29,2025March 30,2024VarianceinDollarsVarianceinPercentSales and marketing expenses$58,059 $53,897 $4,162 8 %Percent of revenue26 %24 %

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Table of Contents

Sales and marketing expenses for the three months ended March 29, 2025 increased by $4.2 million compared with the corresponding period in 2024 primarily due to increases in personnel expenses of $2.8 million, stock-based compensation of $1.6 million and travel expenses of $0.7 million. These increases were partially offset by decreases in outside services of $0.4 million and depreciation and amortization of $0.4 million.

For the three months ended March 29, 2025, sales and marketing expenses as a percentage of revenue increased to 26% from 24% in the same period in 2024 due to lower revenue and the increases described above. We expect our investments in sales and marketing will increase slightly in absolute dollars on a year-over-year basis, but decline as a percentage of revenue, as we continue to land new customers and expand our platform, cloud and managed services.

Research and Development Expenses

The following table sets forth our research and development expenses (dollars in thousands):

 Three Months Ended March 29,2025March 30,2024VarianceinDollarsVarianceinPercentResearch and development expenses$43,980 $44,422 $(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,