Adoption ChallengesTier 2 operators have been slower to embrace the CALX model apart from Brightspeed, Lumos, and a few others.
Customer Cohort WeaknessLarger customer cohort weakness is attributed to Verizon, Brightspeed, Lumen, and CityFibre and could persist due to interest rates and macro financial pressures.
Revenue DeclineContinued weakness in 3Q revenue stemmed primarily from its large and medium-sized customer segments, collectively -50% y/y.