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Calix October 25 , 2021 Fellow Calix stockholders : We are encouraged by the continued increase in vaccinations on a global basis . However , vaccination levels remain well below the level needed to resume all normal social activity across the globe . Economies around the world continue the process of reopening and attempting to return to some semblance of pre - pandemic activity . This process of reopening has seen its fair share of fits and starts as the emergence of Covid variants has caused some economies to slow reopenings as well as temporarily shift back to lockdowns in a small number of cases . Combined with higher than anticipated demand across a number of industries , these fits and starts have created a shortage of labor and materials throughout the supply chain . As a result , prices for nearly all input costs have increased relative to the year ago period and relative to just a quarter or two ago . We have been directly impacted by these effects ; however , our team continues to execute well in order to meet the needs of our customers in both the near in quarter as well as in out quarters . Our mission is to enable our broadband service provider ( BSP ) customers of all types and sizes to simplify their business , excite their subscribers and grow their value . We continued to make progress on our mission this quarter . An increasing number of our BSP customers are utilizing the greater capabilities of our All Platform offerings and growing the value of their businesses . Over the long - term , we believe they will share a portion of that value with us increasing our revenue visibility and creating a more valuable business for Calix . BSP customers deploying our All Platform offerings have reported dramatic improvements 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 . As the economy continues to reopen , we will expand our customer engagement and further increase our ability to demonstrate the value of our All Platform offerings . Demand remains robust with BSP capital spending continuing to increase organically to meet the needs of this new hybrid work , education and entertainment consumption environment . In addition , federal as well as state government support is flowing to shrink the digital divide and bring broadband service to under- and unserved areas . The combination of these two demand drivers is creating a positive investment environment for broadband networks in the US and across the globe . Our view remains unchanged regarding the benefits of the new hybrid work environment , and it appears more companies are embracing this shift . This has increased the value and need for broadband access networks at many companies as less work and customer interaction takes place in traditional office environments . At this point , our team has operated in this environment for 20 months and despite many of the challenges stemming from the 1