v3.25.4

Information about Segments and Geographic Areas | 6 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Information about Segments and Geographic Areas | 11. Information about Segments and Geographic Areas The Company has one reportable segment, the development, marketing, and sale of network infrastructure equipment and related software. The Company conducts business globally and is managed geographically. Revenues are attributed to a geographical area. The Company operates in three geographical areas: Americas, EMEA, and APAC. See Note 3, Revenues, for additional information on the Company's revenues by geographic region. Measure of segment profit or loss: The Company’s chief operating decision maker (“CODM”), who is its Chief Executive Officer, reviews financial information presented on a consolidated basis and uses consolidated non-GAAP net income to measure segment profit or loss and decide where to allocate and invest additional resources within the business. Consolidated non-GAAP net income is also used in the Company's annual budgeting and forecasting processes to establish goals and compare actual results against both budgeted targets and historical performance. Consolidated non-GAAP net income is exclusive of certain items that are non-recurring or not consistent with the Company's operations. The CODM reviews and utilizes functional expenses (costs of revenue, research and development, sales and marketing, and general and administrative) at the consolidated level to manage and assess the Company's operations. Other segment items included in consolidated non-GAAP net income are interest income, interest expense, other expense, net, and the provision for income taxes, which are reflected in the condensed consolidated statements of operations. A reconciliation of consolidated GAAP net income (loss) to consolidated non-GAAP net income is shown in the table below (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2025 |  |  | December 31, 2024 |  |  | December 31, 2025 |  |  | December 31, 2024 |
GAAP net income (loss) |  | $ | 7,876 |  |  | $ | 7,382 |  |  | $ | 13,487 |  |  | $ | (3,122 | )
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Share-based compensation expense |  |  | 22,899 |  |  |  | 21,452 |  |  |  | 44,679 |  |  |  | 41,219 |
Restructuring and related charges |  |  | 167 |  |  |  | 1,035 |  |  |  | 538 |  |  |  | 2,312 |
Litigation charges(1) |  |  | 822 |  |  |  | 877 |  |  |  | 2,759 |  |  |  | 11,593 |
System transition costs(2) |  |  | 6,467 |  |  |  | 4,026 |  |  |  | 11,392 |  |  |  | 9,371 |
Other non-recurring costs(3) |  |  | 3,648 |  |  |  | — |  |  |  | 3,648 |  |  |  | — |
Amortization of intangibles |  |  | 741 |  |  |  | 1,098 |  |  |  | 1,834 |  |  |  | 2,216 |
Debt refinancing charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 79 |
Tax effect of non-GAAP adjustments |  |  | (7,895 | ) |  |  | (7,297 | ) |  |  | (13,468 | ) |  |  | (12,695 | )
Total adjustments to GAAP net income (loss) |  | $ | 26,849 |  |  | $ | 21,191 |  |  | $ | 51,382 |  |  | $ | 54,095 |
Non-GAAP net income |  | $ | 34,725 |  |  | $ | 28,573 |  |  | $ | 64,869 |  |  | $ | 50,973 |
(1)Litigation charges consist of estimated settlement and related legal expenses for non-recurring litigation offset by any proceeds received or expected to be received from insurance. (2)System transition costs consist of costs related to direct and incremental costs incurred in connection with our multi-phase transition of our customer relationship management solution, our configure, price, quote solution and our enterprise resource planning tools that were not capitalizable. (3)Other non-recurring costs consist of certain external advisory and professional fees incurred for various non-recurring transactions and activities that occur outside of the normal course of business. Measure of segment assets: The measure of segment assets that is reviewed by the CODM is reported within the condensed consolidated balance sheets as “Total assets.” Depreciation expense recorded for the three months ended December 31, 2025 and 2024 was $3.9 million and $3.8 million, respectively. Depreciation expense recorded for each of the six months ended December 31, 2025 and 2024 was $7.7 million. Total expenditures for additions to property, plant and equipment recorded for each of the three months ended December 31, 2025 and 2024 was $7.1 million and $5.4 million, respectively. Total expenditures for additions to property, plant and equipment recorded for the six months ended December 31, 2025 and 2024 was $13.9 million and $12.3 million, respectively. The Company’s long-lived assets are attributed to the geographic regions as follows (in thousands):
|  | December 31, 2025 |  |  | June 30, 2025 |
Segment long-lived assets: |  |  |  |  |  |
Americas |  | $ | 185,144 |  |  | $ | 167,499 |
EMEA |  |  | 38,686 |  |  |  | 40,299 |
APAC |  |  | 9,258 |  |  |  | 10,550 |
Total segment long-lived assets |  | $ | 233,088 |  |  | $ | 218,348 |

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- Definition The entire disclosure for reporting segments including data and tables. 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