CALIX, INCCALX

CALIX, INC Segments Disclosure

10-KFiled Feb 20, 20262 min read
Segment Information
We develop, market and sell an appliance-based broadband platform, cloud and managed services, and there are no segment managers who are held accountable for operations, operating results and plans for levels or components below the unit level. Accordingly, Calix is considered to be in a single reporting segment and operating unit structure. Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews financial information presented on a company-wide basis, for purposes of allocating resources and evaluating financial performance. The CODM assesses the performance of the single segment and allocates resources based on revenue and measures derived from gross margin and operating income (loss) that is reported in the Consolidated Statements of Comprehensive Income (Loss). In addition, the CODM uses a measure derived from operating expenses in the Consolidated Statements of Comprehensive Income (Loss) to monitor budget versus actual results to determine Calix’s and management’s performance. We do not have intra-entity sales or transfers. The measure of the single segment assets is the consolidated assets in the Consolidated Balance Sheet. The accounting policies of the single segment are the same as described in the significant accounting policies.
Geographic Information:
A summary of revenue disaggregated by geographic region based upon the location of the customers was as follows (in thousands):
Years Ended December 31,
202520242023
United States$934,829 $764,593 $944,201 
Europe33,419 34,322 54,265 
Americas excluding U.S.25,304 25,583 32,696 
Rest of world6,458 7,020 8,431 
$1,000,010 $831,518 $1,039,593 
Our property and equipment, net of accumulated depreciation, were located in the following geographical areas (in thousands):
December 31,
2025 2024
United States$33,544 $27,601 
China2,616 2,818 
India1,652 734 
$37,812 $31,153 
Selected Financial Information:
The following table presents selected financial information with respect to our single operating segment (in thousands):
Years Ended December 31,
202520242023
Revenue$1,000,010 $831,518 $1,039,593 
Adjusted cost of revenue (1)
(427,718)(372,177)(515,633)
Adjusted sales and marketing operating expenses (2)
(217,904)(197,069)(197,671)
Adjusted research and development operating expenses (3)
(167,020)(160,787)(160,772)
Adjusted general and administrative operating expenses (4)
(77,483)(70,944)(71,180)
Other segment items (5)
(88,895)(73,575)(68,752)
Interest income and other expenses, net13,178 11,388 9,172 
Income taxes(16,284)1,899 (5,432)
Net income (loss)$17,884 $(29,747)$29,325 

(1) GAAP cost of revenue adjusted for stock-based compensation and intangible asset amortization.
(2) GAAP sales and marketing operating expenses adjusted for stock-based compensation.
(3) GAAP research and development operating expenses adjusted for stock-based compensation.
(4) GAAP general and administrative operating expenses adjusted for stock-based compensation and litigation settlement (2023 only).
(5) Other segment items consisted of stock-based compensation expense, intangible asset amortization and litigation settlement (2023 only).
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Historical Timeline

Fiscal YearFiled
2025Feb 20, 2026Showing above
2024Feb 21, 2025
2018Mar 1, 2019
2017Mar 14, 2018
2016Feb 28, 2017
2015Feb 26, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesDebtCommitmentsNew StandardsPay vs Performance