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Calix, Inc
7/27/2021
anyone to require operator assistance during the conference, please press star zero on your telephone keypad. It is now my pleasure to introduce your host, Mr. Tom Dinges, Director of Investor Relations. Thank you, sir. Please go ahead.
Thank you, Donna, and good morning, everyone. Thank you for joining our second quarter of 2021 earnings call. Today on the call, we have Chairman and CEO Carl Ruzzo, Chief Financial Officer Corey Sindelar, and President and Chief Operating Officer Michael Winnie. As a reminder, yesterday after the close of market, we released our letter to stockholders and AK filing, as well as on the investor relations section of the Calix website. This conference call will be available for audio replay in the investor relations section of the Calix website. Before I turn the call over to Carl for his brief opening remarks, I want to remind you that in this call, we refer to forward-looking statements. which include all statements we make about our future financial and operating performance, growth strategy, and market outlook, and actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause actual results and trends to differ materially are set forth in our second quarter 2021 letter to stockholders and in our annual and quarterly reports filed with the SEC. Calix assumes no obligation to update any forward-looking statements which speak only as of their respective dates. Also on this conference call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our letter to stockholders. Unless otherwise stated on this call, we will reference non-GAAP measures. And with that, let me turn the call over to Carl. Carl? Thanks, Tom. The second quarter saw the Calix team achieve a number of milestones on our march to an all-platform world. On a wave of continued strong demand, for the first time, our all-platform offerings, software, and the associated systems and services, were greater than 50% of our bookings. We expect this trend to continue. For the third quarter in a row, we did not have a 10% customer, and we do not expect to have one in the current quarter. This speaks directly to the breadth of our customer base and the predictability of our all-platform model. At the same time, we brought our V6 and C7 products to end of sale. These two systems were the founding systems of Calix, and this marks another milestone in our continued pursuit of our all-platform future. With these milestones behind us, the Board of Directors has added the chairmanship to my CEO role. I will continue my focus on our long-term strategy, and I am confident that our executive team led by Michael Weaney, our President and Chief Operating Officer, will continue to execute our strategy with excellence. While supply remains a challenge and will remain a challenge well into next year, organic demand for our solutions remains robust. Every day, we are excited to help our customers simplify their businesses, excite their subscribers, and grow their value. With that, let us open the call for questions. Donna?
Thank you. The floor is now open for questions. If you would like to ask a question, please press star 1 on your telephone keypad at this time. A confirmation tone will indicate your line is in the question queue. You may press star 2 if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star key. Once again, that is star 1 to register a question at this time. Our first question is coming from George Nodder of Jefferies. Please go ahead.
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