Company: CALX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001406666-25-000045
Chunk: 34

Company: CALIX, INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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, outside services of $0.4 million and prototypes and test equipment expenses of $0.4 million. These increases were partially offset by a decrease in personnel expenses of $0.8 million.

Research and development expenses for the nine months ended September 27, 2025 increased by $2.8 million as compared with the corresponding period in 2024 mainly due to increases in stock-based compensation of $3.2 million, depreciation and amortization of $1.6 million and prototypes and test equipment expenses of $1.2 million. These increases were partially offset by decreases in personnel expenses of $3.0 million.

For the three and nine months ended September 27, 2025, research and development expenses as a percentage of gross profit decreased to 31% from 41% and 33% from 39%, respectively, due to the increase in revenue and gross margin. We expect our investments in research and development to increase in absolute dollars and as a percentage of gross profit in the short term as we accelerate the development of AI 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 EndedNine Months Ended September 27,2025September 28,2024VarianceinDollarsVarianceinPercentSeptember 27,2025September 28,2024VarianceinDollarsVarianceinPercentGeneral and administrative expenses$27,293 $23,175 $4,118 18 %$80,507 $72,063 $8,444 12 %Percent of revenue10 %12 %11 %12 %

General and administrative expenses for the three months ended September 27, 2025 increased by $4.1 million as compared with the corresponding period in 2024 mainly due to increases in personnel expenses of $1.9 million, mostly related to incentive compensation and increased headcount, and stock-based compensation of $1.6 million.

General and administrative expenses for the nine months ended September 27, 2025 increased by $8.4 million as compared with the corresponding period in 2024 mainly due to increases in personnel expenses of $4.7 million and stock-based compensation of $3.9 million. These increases were partially offset by a decrease in professional services expenses of $0.8 million.

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Table of Contents

For the three and nine months ended September