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OPERATING SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2026
OPERATING SEGMENT INFORMATION |
Schedule of segment reporting information | ​ The tables below present significant segment expenses regularly reviewed by the CODM for the three months ended March 31, 2026 and 2025 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended
​ | March 31, | ​ | March 31,
​ | 2026 | ​ ​ ​ | 2025
Segment revenue: | ​ | ​ | ​ | ​ | ​
Cloud and Edge | $ | 99,512 |  | $ | 107,591
IP Optical Networks | ​ | 63,094 |  | ​ | 73,688
Revenue | $ | 162,606 |  | $ | 181,279
​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended
​ | March 31, | ​ | March 31,
​ | 2026 | ​ ​ ​ | 2025
Segment adjusted gross profit: | ​ | ​ | ​ | ​ | ​
Cloud and Edge | $ | 56,522 |  | $ | 67,296
IP Optical Networks | ​ | 17,935 |  | ​ | 20,814
Total segment adjusted gross profit | ​ | 74,457 |  | ​ | 88,110
​ | ​ | ​ | ​ | ​ | ​
Reconciliation of segment adjusted gross profit to gross profit and loss before income taxes | ​ | ​ | ​ | ​ | ​
Stock-based compensation expense | ​ | (204) | ​ | ​ | (352)
Amortization of acquired technology | ​ | (4,562) |  | ​ | (5,388)
Gross profit | ​ | 69,691 |  | ​ | 82,370
​ | ​ | ​ | ​ | ​ | ​
Research and development expense | ​ | 44,445 | ​ | ​ | 43,568
Sales and marketing expense | ​ | 32,269 | ​ | ​ | 31,788
General and administrative expense | ​ | 16,978 | ​ | ​ | 15,128
Amortization of acquired intangible assets | ​ | 5,656 | ​ | ​ | 6,155
Restructuring and related expense | ​ | 2,038 | ​ | ​ | 5,341
Interest expense, net | ​ | 9,756 | ​ | ​ | 10,500
Other income, net | ​ | (514) | ​ | ​ | (3,129)
Loss before income taxes | $ | (40,937) | ​ | $ | (26,981)
​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended
​ | March 31, | ​ | March 31,
​ | 2026 | ​ ​ ​ | 2025
Segment depreciation expense: | ​ | ​ | ​ | ​ | ​
Cloud and Edge | $ | 2,322 |  | $ | 2,353
IP Optical Networks | ​ | 2,138 |  | ​ | 1,116
Depreciation expense | $ | 4,460 |  | $ | 3,469
​

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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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