v3.26.1
Segment Information
 6 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We develop, market and sell an appliance-based broadband platform, cloud and managed services. There are no segment managers who are held accountable for operations, operating results and plans for levels or components below our unit level. Accordingly, we are 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 loss that is reported in the Condensed Consolidated Statements of Comprehensive Income (Loss). In addition, the CODM uses a measure derived from operating expenses in the Condensed Consolidated Statements of Comprehensive Income (Loss) to monitor budget versus actual results to determine the entity’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 Condensed 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):
Three Months EndedSix Months Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
United States$277,716 $219,039 $543,062 $430,218 
Americas ex U.S.8,218 5,881 14,501 11,349 
Europe4,930 15,565 11,587 18,094 
Rest of world2,465 1,397 4,163 2,463 
$293,329 $241,882 $573,313 $462,124 
Our property and equipment, net of accumulated depreciation, was located in the following geographical areas (in thousands):
June 27,
2026		December 31, 2025
United States$31,593 $33,544 
India3,006 1,652 
China2,979 2,616 
$37,578 $37,812 
Selected Financial Information:
The following table presents selected financial information with respect to our single operating segment (in thousands):
Three Months EndedSix Months Ended
June 27,
2026		June 28,
2025		June 27,
2026		June 28,
2025
Revenue$293,329 $241,882 $573,313 $462,124 
Adjusted cost of revenue (1)
(132,571)(104,595)(252,364)(201,051)
Adjusted sales and marketing operating expenses (2)
(56,707)(52,606)(113,544)(104,196)
Adjusted research and development operating expenses (3)
(47,501)(39,897)(96,258)(78,796)
Adjusted general and administrative operating expenses (4)
(18,011)(18,552)(39,287)(37,888)
Other segment items (5)
(16,690)(25,841)(37,295)(45,883)
Interest income and other expenses, net1,746 3,036 4,262 6,127 
Income taxes(6,484)(3,626)(10,506)(5,423)
Net income (loss)$17,111 $(199)$28,321 $(4,986)
(1) GAAP cost of revenue adjusted for stock-based compensation and intangible asset amortization (2025 only).
(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.
(5) Other segment items consisted of stock-based compensation expense and intangible asset amortization (2025 only).