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OPERATING SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2025
OPERATING SEGMENT INFORMATION |
Schedule of segment reporting information | ​ ​ The tables below present significant segment expenses regularly reviewed by the CODM for the years ended December 31, 2025, 2024 and 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
Segment revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cloud and Edge |  | $ | 511,430 |  | $ | 505,157 |  | $ | 477,647
IP Optical Networks |  | ​ | 333,126 |  | ​ | 328,724 |  | ​ | 348,692
Revenue |  | $ | 844,556 |  | $ | 833,881 |  | $ | 826,339
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ | ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
Segment cost of revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cloud and Edge | ​ | $ | 188,355 |  | $ | 175,940 |  | $ | 177,629
IP Optical Networks | ​ | ​ | 235,495 |  | ​ | 218,429 |  | ​ | 240,627
Cost of revenue | ​ | $ | 423,850 |  | $ | 394,369 |  | $ | 418,256
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
Segment adjusted gross profit: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cloud and Edge |  | $ | 326,717 |  | $ | 338,194 |  | $ | 314,594
IP Optical Networks |  | ​ | 115,293 |  | ​ | 127,836 |  | ​ | 124,436
Total segment adjusted gross profit |  | ​ | 442,010 |  | ​ | 466,030 |  | ​ | 439,030
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of segment adjusted gross profit to gross profit and loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Stock-based compensation expense | ​ | ​ | (960) | ​ | ​ | (1,625) | ​ | ​ | (2,657)
Amortization of acquired technology |  | ​ | (20,344) |  | ​ | (24,893) |  | ​ | (28,290)
Gross profit |  | ​ | 420,706 |  | ​ | 439,512 |  | ​ | 408,083
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Research and development expense | ​ | ​ | 178,872 | ​ | ​ | 179,941 | ​ | ​ | 190,660
Sales and marketing expense | ​ | ​ | 133,075 | ​ | ​ | 137,830 | ​ | ​ | 137,460
General and administrative expense | ​ | ​ | 64,239 | ​ | ​ | 68,740 | ​ | ​ | 54,962
Amortization of acquired intangible assets | ​ | ​ | 23,849 | ​ | ​ | 25,969 | ​ | ​ | 28,601
Acquisition-, disposal- and integration-related expense | ​ | ​ | 4,337 | ​ | ​ | — | ​ | ​ | 4,476
Restructuring and related expense | ​ | ​ | 19,658 | ​ | ​ | 10,160 | ​ | ​ | 16,209
Interest expense, net | ​ | ​ | 44,011 | ​ | ​ | 33,821 | ​ | ​ | 27,320
Other (income) expense, net | ​ | ​ | (2,226) | ​ | ​ | 29,119 | ​ | ​ | 3,768
Loss before income taxes | ​ | $ | (45,109) | ​ | $ | (46,068) | ​ | $ | (55,373)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
Segment depreciation expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cloud and Edge |  | $ | 9,554 |  | $ | 9,337 |  | $ | 9,798
IP Optical Networks |  | ​ | 7,174 |  | ​ | 4,202 |  | ​ | 4,307
Depreciation expense |  | $ | 16,728 |  | $ | 13,539 |  | $ | 14,105
​

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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