| Schedule of segment reporting information |
The tables below present significant segment expenses regularly reviewed by the CODM for the three and six months ended June 30, 2025 and 2024 (in thousands): | | | | | | | | | | | | | | | | Three months ended | | Six months ended | | | | June 30, | | June 30, | | June 30, | | June 30, | | | | 2025 | | 2024 | | 2025 | | 2024 | | Segment revenue: | | | | | | | | | | | | | | Cloud and Edge | | $ | 137,048 | | $ | 110,555 | | $ | 244,639 | | $ | 212,224 | | IP Optical Networks | | | 83,535 | | | 82,065 | | | 157,223 | | | 160,060 | | Revenue | | $ | 220,583 | | $ | 192,620 | | $ | 401,862 | | $ | 372,284 | |
| | | | | | | | | | | | | | | | Three months ended | | Six months ended | | | | June 30, | | June 30, | | June 30, | | June 30, | | | | 2025 | | 2024 | | 2025 | | 2024 | | Segment adjusted gross profit: | | | | | | | | | | | | | | Cloud and Edge | | $ | 84,854 | | $ | 72,946 | | $ | 152,150 | | $ | 140,065 | | IP Optical Networks | | | 29,961 | | | 31,791 | | | 50,775 | | | 63,756 | | Total segment adjusted gross profit | | | 114,815 | | | 104,737 | | | 202,925 | | | 203,821 | | | | | | | | | | | | | | | | Reconciliation of segment adjusted gross profit to gross profit and loss before income taxes | | | | | | | | | | | | | | Stock-based compensation expense | | | (231) | | | (338) | | | (583) | | | (916) | | Amortization of acquired technology | | | (5,277) | | | (6,532) | | | (10,665) | | | (13,083) | | Gross profit | | | 109,307 | | | 97,867 | | | 191,677 | | | 189,822 | | | | | | | | | | | | | | | | Research and development expense | | | 44,696 | | | 43,489 | | | 88,264 | | | 89,252 | | Sales and marketing expense | | | 32,536 | | | 32,984 | | | 64,324 | | | 67,700 | | General and administrative expense | | | 16,630 | | | 14,901 | | | 31,758 | | | 30,092 | | Amortization of acquired intangible assets | | | 5,975 | | | 6,508 | | | 12,130 | | | 13,214 | | Acquisition-, disposal- and integration-related expense | | | 3,898 | | | — | | | 3,898 | | | — | | Restructuring and related expense | | | 1,346 | | | 1,920 | | | 6,687 | | | 4,985 | | Interest expense, net | | | 10,977 | | | 3,879 | | | 21,477 | | | 9,866 | | Other (expense) income, net | | | 2,159 | | | 9,503 | | | (970) | | | 17,016 | | Loss before income taxes | | $ | (8,910) | | $ | (15,317) | | $ | (35,891) | | $ | (42,303) | |
| | | | | | | | | | | | | | | | Three months ended | | Six months ended | | | | June 30, | | June 30, | | June 30, | | June 30, | | | | 2025 | | 2024 | | 2025 | | 2024 | | Segment depreciation expense: | | | | | | | | | | | | | | Cloud and Edge | | $ | 2,399 | | $ | 2,324 | | $ | 4,752 | | $ | 4,657 | | IP Optical Networks | | | 1,889 | | | 1,052 | | | 3,005 | | | 2,113 | | Depreciation expense | | $ | 4,288 | | $ | 3,376 | | $ | 7,757 | | $ | 6,770 | |
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