Calix, Inc

Greetings, everyone, and welcome to the Calix second quarter 2023 earnings conference call. At this time, all participants are in listen-only mode. The question and answer session will follow the brief prepared remarks. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jim Finucchi, Vice President of Investor Relations. Sir, please go ahead.

thank you rob and good morning everyone thank you for joining our second quarter 2023 earnings call today on the call we have president and ceo michael weenie and chief financial officer corey cindylar as a reminder yesterday after the market closed calix issued a news release which was furnished on a form 8k along with our stockholder letter which was also posted in the investor relations section of the calix website Today's conference call will be available for webcast replay in the investor relations section of our website. Before I turn the call over to Michael for his opening remarks, I want to remind everyone on this call we will refer to forward-looking statements, including all statements the company will make about its future financial and operating performance, growth strategy, and market outlook, and actual results may differ materially from those contemplated by these forward-looking statements. set forth in the second quarter 2023 letter to stockholders and in the 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 in this call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in the second quarter 2023 letter to stockholders. Unless otherwise stated, all will be non-GAAP. With that, it is my pleasure to turn the call over to Michael. Michael, please go ahead. Thank you, Jim.

In the second quarter of 2023, the Calix team continued our track record of improvement in our financial performance across the four measurable objectives that we have outlined for investors. First, deliberate revenue growth continued as we achieved our ninth consecutive quarter of growth while delivering record revenues. Demand remained strong as customers transformed their business and communities by leveraging the Calix platform, managed services, and our customer success teams. Second, gross margin expansion continued with our fourth consecutive quarter of margin growth. Third, we executed disciplined operating expense management as we invested fulsomely to take advantage of this once-in-a-generation growth opportunity ahead. And fourth, ongoing predictability continued as we met or exceeded the guidance that we laid out for investors in April. In the second quarter, I continued to invest a significant amount of time meeting with customers, prospects, partners, and team members. The feedback remains positive as we continue adding broadband service providers of all sizes that are strategically aligned with Calix. As we noted in our investor letter, these Calix partnered BSPs continue to attract significant private and public investment to grow. They are not seeing the impact of tightening credit markets unlike the debt-laden legacy providers who are pulling back. For example, Last week, we announced that Allo Communications, who has an end-to-end partnership with Calix, secured $650 million in sustainable financing, also known as a green bond, to grow. During the second quarter, we also hit a milestone with our 1,000th customer starting their platform journey with Calix, including 16 new strategically aligned BSPs who chose our platform for the first time to meet their long-term goals. In addition, 20 new cloud customers signed on to deploy one or more of our clouds, and 15 BSPs launched their first managed service or services with the support of the Calix team. Last, but certainly not least, our culture continues to embrace the better, better, never best mindset. At all times, our team is constantly asking How can we improve? During our advisory board sessions, our customers and our product, sales, marketing, and customer success teams collaborate on how to supercharge BSP success. Internally, we encourage Calix team members to challenge the norm and continue our journey of nonstop improvement. This approach has built our purpose-driven culture, which contributes to the success of our customers, partners, and team members, and is a key driver of why people want to join Calix. We continue to be recognized as one of the best places to work in any industry. In the second quarter, Calix was ranked number one on the top 50 list for most inspiring places to work in North America. In addition, we achieved our third Great Place to Work certification, noting the strength of a remote culture as a driver of customer success and corporate growth. Also, our chief product officer, Shane Liniang, was named a top 20 CPO worldwide, and we were awarded number one best place to work in the entire Bay Area. It is a great time to be part of the Calix team as we continue to embrace the notion of constant improvement to our better, better, never best mindset. Before I close, I'll turn it over to Corey to expand on the team's stellar performance in the second quarter. Corey?