| 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, 2026 and 2025 (in thousands): | | | | | | | | | | | | | | | Three months ended | | Six months ended | | | June 30, | | June 30, | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Segment revenue: | | | | | | | | | | | | | Cloud and Edge | | $ | 110,505 | | $ | 137,048 | | $ | 210,017 | | $ | 244,639 | IP Optical Networks | | | 81,835 | | | 83,535 | | | 144,929 | | | 157,223 | Revenue | | $ | 192,340 | | $ | 220,583 | | $ | 354,946 | | $ | 401,862 |
| | | | | | | | | | | | | | | Three months ended | | Six months ended | | | June 30, | | June 30, | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Segment adjusted gross profit: | | | | | | | | | | | | | Cloud and Edge | | $ | 66,069 | | $ | 84,854 | | $ | 122,591 | | $ | 152,150 | IP Optical Networks | | | 28,842 | | | 29,961 | | | 46,777 | | | 50,775 | Total segment adjusted gross profit | | | 94,911 | | | 114,815 | | | 169,368 | | | 202,925 | | | | | | | | | | | | | | Reconciliation of segment adjusted gross profit to gross profit and loss before income taxes | | | | | | | | | | | | | Stock-based compensation expense | | | (214) | | | (231) | | | (418) | | | (583) | Amortization of acquired technology | | | (4,354) | | | (5,277) | | | (8,916) | | | (10,665) | Gross profit | | | 90,343 | | | 109,307 | | | 160,034 | | | 191,677 | | | | | | | | | | | | | | Research and development expense | | | 44,858 | | | 44,696 | | | 89,303 | | | 88,264 | Sales and marketing expense | | | 33,124 | | | 32,536 | | | 65,393 | | | 64,324 | General and administrative expense | | | 14,643 | | | 16,630 | | | 31,621 | | | 31,758 | Amortization of acquired intangible assets | | | 5,495 | | | 5,975 | | | 11,151 | | | 12,130 | Acquisition-, disposal- and integration-related expense | | | — | | | 3,898 | | | — | | | 3,898 | Restructuring and related expense | | | 4,442 | | | 1,346 | | | 6,480 | | | 6,687 | Interest expense, net | | | 10,685 | | | 10,977 | | | 20,441 | | | 21,477 | Other expense (income), net | | | 2,258 | | | 2,159 | | | 1,744 | | | (970) | Loss before income taxes | | $ | (25,162) | | $ | (8,910) | | $ | (66,099) | | $ | (35,891) |
| | | | | | | | | | | | | | | Three months ended | | Six months ended | | | June 30, | | June 30, | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Segment depreciation expense: | | | | | | | | | | | | | Cloud and Edge | | $ | 2,564 | | $ | 2,399 | | $ | 4,886 | | $ | 4,752 | IP Optical Networks | | | 2,107 | | | 1,889 | | | 4,245 | | | 3,005 | Depreciation expense | | $ | 4,671 | | $ | 4,288 | | $ | 9,131 | | $ | 7,757 |
|