Image source: The Motley Fool. Feb. 5, 2026 at 4:30 p.m. ET Call participants Chief Executive Officer — Bruce McClelland Chief Financial Officer — John Townsend Takeaways Full-Year Revenue -- $845 million, up 1%, excluding Russia, up 4%, with differences by segment and region. -- $845 million, up 1%, excluding Russia, up 4%, with differences by segment and region. Fourth Quarter Revenue -- $227 mi...
Image source: The Motley Fool. Feb. 5, 2026 at 4:30 p.m. ET Call participants Chief Executive Officer — Bruce McClelland Chief Financial Officer — John Townsend Takeaways Full-Year Revenue -- $845 million, up 1%, excluding Russia, up 4%, with differences by segment and region. -- $845 million, up 1%, excluding Russia, up 4%, with differences by segment and region. Fourth Quarter Revenue -- $227 million, down 10%, with $13 million below the midpoint of prior guidance due to customer and project timing delays. -- $227 million, down 10%, with $13 million below the midpoint of prior guidance due to customer and project timing delays. Adjusted EBITDA -- $40 million in Q4, down $15 million, and $107 million for the year, down $12 million, both impacted by lower sales and gross margins. -- $40 million in Q4, down $15 million, and $107 million for the year, down $12 million, both impacted by lower sales and gross margins. Net Income and EPS Benefit -- Q4 non-GAAP net income was $106 million, up $78 million, supported by a $90 million deferred tax benefit tied to ECI investments, adding $0.50 to non-GAAP EPS. -- Q4 non-GAAP net income was $106 million, up $78 million, supported by a $90 million deferred tax benefit tied to ECI investments, adding $0.50 to non-GAAP EPS. Cloud and Edge Segment Revenue -- $142 million in Q4 (down 14% year over year; up 14% sequentially), $511 million for the year (up $6 million). -- $142 million in Q4 (down 14% year over year; up 14% sequentially), $511 million for the year (up $6 million). IP Optical Networks Revenue -- $85 million in Q4 (down 2%), $333 million for the year (up 1%), with India sales in Q4 up 28% and full-year India sales exceeding $100 million, up more than 40%. -- $85 million in Q4 (down 2%), $333 million for the year (up 1%), with India sales in Q4 up 28% and full-year India sales exceeding $100 million, up more than 40%. Gross Margin -- Consolidated Q4 non-GAAP gross margin at 55.4%, down 270 basis points, driven by mix shi...