Company: CALX
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001406666-25-000016
Chunk: 102

Company: CALIX, INC
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 2
Chunk 102
---
 2025 and March 30, 2024

Revenue

The following table sets forth our revenue by customer size (dollars in thousands):

 Three Months EndedMarch 29,2025March 30,2024VarianceinDollarsVarianceinPercentLarge$21,644 $16,105 $5,539 34 %Medium24,861 27,886 (3,025)(11)%Small173,737 182,319 (8,582)(5)%$220,242 $226,310 $(6,068)(3)%

Our revenue decreased by $6.1 million for the three months ended March 29, 2025 as compared to the corresponding period in 2024. As with others in the telecommunication industry, our business went through a period of adjustments following the COVID pandemic, which resulted in fewer purchases in 2024 such that our revenue hit its lowest level since the second quarter of 2022 in the second quarter of 2024. Since then, our quarterly revenue has grown sequentially. The decrease in revenue in the small- and medium-customer segment was primarily due to the industry slowdown in 2024, caused by factors such as order normalization, consideration of the U.S. Department of Commerce National Telecommunications and Information Administration’s, or NTIA’s, Broadband Equity, Access and Deployment, or BEAD, program and evaluation of business models given relatively low subscriber attach rates. The increase in revenue in the large-customer segment was primarily due to a demand pull forward by a customer.

For the three months ended March 29, 2025, United States revenue was $211.2 million, or 96% of our revenue, compared to $210.1 million, or 93% of our revenue for the same period in 2024. International revenue was $9.1 million, or 4% of our revenue, for the three months ended March 29, 2025, as compared to $16.2 million, or 7% of our revenue, for the same period in 2024. The decrease in international revenue for the three months ended March 29, 2025, as compared to the same period in 2024, was mainly due to lower shipments to Europe and to a lesser extent the Americas outside the United States.

No customer accounted for more than 10% of the Company’s revenue for the three months ended March 29, 2025 and