Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 33

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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9 million and personnel expenses of $5.9 million, mostly related to incentive compensation. These increases were partially offset by a decrease in marketing expenses of $1.6 million.

Sales and marketing expenses for the six months ended June 28, 2025 increased by $15.6 million compared with the corresponding period in 2024 primarily due to increases in personnel expenses of $8.7 million, mostly related to incentive compensation, stock-based compensation of $8.5 million and travel expenses of $1.2 million. These increases were partially offset by a decrease in marketing expenses of $1.6 million.

For the three and six months ended June 28, 2025, sales and marketing expenses as a percentage of revenue was flat. 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 EndedSix Months Ended June 28,2025June 29,2024VarianceinDollarsVarianceinPercentJune 28,2025June 29,2024VarianceinDollarsVarianceinPercentResearch and development expenses$45,787 $44,123 $1,664 4 %$89,767 $88,545 $1,222 1 %Percent of revenue19 %22 %19 %21 %Percentage of gross profit34 %41 %35 %38 %

Research and development expenses for the three months ended June 28, 2025 increased by $1.7 million as compared with the corresponding period in 2024 mainly due to increases in stock-based compensation of $1.5 million, depreciation and amortization of $0.5 million and outside services of $0.3 million. These increases were partially offset by a decrease in personnel expenses of $0.8 million.

Research and development expenses for the six months ended June 28, 2025 increased by $1.2 million as compared with the corresponding period in 2024 mainly due to increases in stock-based compensation 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