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Calix April 27 , 2021 Fellow Calix stockholders : One year after the start of the coronavirus pandemic , we can now see the contours of how it may end . Vaccines , some built on a revolutionary new platform , are being deployed globally . The United States is making very good progress on vaccinations with some 25 % of the population fully vaccinated at the time of this writing . This progress has caused some to imagine what post - pandemic life might look like , while others may be lowering their guard prematurely . For Calix , our focus remains on the health and welfare of our employees and their families so that they may , in turn , execute on our mission and support our customers through these trying times . We are now better able to determine that the growth we have experienced is attributable less to pandemic - induced network changes and more to the secular change driven by disruptions moving though the communications space . As the pandemic has begun to slow in the U.S. , our business has continued to grow . Stated simply , our business is driven by the secular change in the communications space , and our All Platform offerings are the basis for our growth . Our mission is to enable our communication service provider ( CSP ) customers of all types and sizes to simplify their business , excite their subscribers and grow their value . Our CSP customers have reported dramatic increases in key metrics , including increased average revenue per user , lower subscriber churn , reduced truck rolls and increased net promoter scores , thanks to our Intelligent Access Edge and Revenue Edge platforms . Our customers have likewise responded to our offerings , enabling us to deliver record first quarter revenue that was up nearly 60 % from last year . Performance in the quarter was led by strength in our small- and medium - size customers with growth across our All Platform offerings and legacy systems products . For the second consecutive quarter , no customer accounted for greater than 10 % of revenue in the quarter , and this lack of concentration is a key indication of how robust our business is becoming . We delivered record gross margin as our All Platform offerings increased as a percentage of our overall revenue . We maintained our disciplined operating expense investments while at the same time making targeted investments to capitalize on the opportunity ahead of us by adding key talent to the organization . This combination of higher revenue increased gross margin and disciplined operating expense investments led to a first quarter GAAP net income for the first time in the Company's history . We start the second quarter of 2021 in the strongest financial position in our history and believe we are perfectly placed to execute on the opportunity ahead . 1