Calix, Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Calix, Inc. filed its Q1 2024 10-Q report on April 23, 2024.</b>

AI Summary

CALIX, INC (CALX) filed a Quarterly Report (10-Q) with the SEC on April 23, 2024. Calix, Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31st. The filing was made on April 23, 2024. The company's principal executive offices are located at 2777 Orchard Parkway, San Jose, CA 95134.

Why It Matters

For investors and stakeholders tracking CALIX, INC, this filing contains several important signals. This 10-Q filing provides an update on Calix, Inc.'s financial performance and position for the first quarter of 2024. Investors and analysts can use this report to assess the company's operational health, liquidity, and overall financial standing.

Risk Assessment

Risk Level: low — CALIX, INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Calix, Inc.'s performance trends and future outlook.

Key Numbers

• 2024-03-30 — Period End Date (Quarterly report period)
• 2024-04-23 — Filing Date (Date the report was filed)
• 12/31 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• CALIX, INC (company) — Filer name
• CALX (company) — Ticker symbol
• 2024-03-30 (date) — Period of report
• 2024-04-23 (date) — Filing date
• 2777 ORCHARD PARKWAY (address) — Business street address
• SAN JOSE (location) — Business city
• CA (location) — Business state
• 95134 (postal_code) — Business zip code

FAQ

Industry Context

Calix, Inc. operates in the communication services sector, providing solutions for broadband networks.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting.

What Investors Should Do

1. Analyze the balance sheet for changes in cash and marketable securities.
2. Review any disclosures related to debt or equity financing.
3. Examine the footnotes for details on accounting policies and significant transactions.

Key Dates

• 2024-03-30: Quarter End — End of the reporting period for the 10-Q
• 2024-04-23: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.025 — ich Registered Common Stock, par value $0.025 per share CALX New York Stock Exchange
• $0 — he Registrant's common stock, par value $0.025, outstanding. Table of Contents

Filing Documents

• calx-20240330.htm (10-Q) — 915KB
• calx_24q1ex311.htm (EX-31.1) — 11KB
• calx_24q1ex312.htm (EX-31.2) — 11KB
• calx_24q1ex321.htm (EX-32.1) — 10KB
• 0001406666-24-000017.txt (&nbsp;) — 5151KB
• calx-20240330.xsd (EX-101.SCH) — 36KB
• calx-20240330_cal.xml (EX-101.CAL) — 72KB
• calx-20240330_def.xml (EX-101.DEF) — 140KB
• calx-20240330_lab.xml (EX-101.LAB) — 502KB
• calx-20240330_pre.xml (EX-101.PRE) — 339KB
• calx-20240330_htm.xml (XML) — 633KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 4

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Comprehensive Income (L oss) 5 Condensed Consolidated Statements of Stockholders ' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Overview 18 Critical Accounting Policies and Estimates 19 Results of Operations 19 Liquidity and Capital Resources 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 24

OTHER INFORMATION

PART II. OTHER INFORMATION 26

Legal Proceedings

Item 1. Legal Proceedings 26

Risk Factors

Item 1A. Risk Factors 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 41

Other Information

Item 5. Other Information 41

Exhibits

Item 6. Exhibits 42

SIGNATURES

SIGNATURES 43 3 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements CALIX, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) March 30, 2024 December 31, 2023 (Unaudited) (See Note 1) ASSETS Current assets: Cash and cash equivalents $ 88,418 $ 63,409 Marketable securities 151,064 156,937 Accounts receivable, net 100,307 126,027 Inventory 119,782 132,985 Prepaid expenses and other current assets 119,214 118,598 Total current assets 578,785 597,956 Property and equipment, net 28,876 29,461 Right-of-use operating leases 9,065 9,262 Deferred tax assets 170,213 167,691 Goodwill 116,175 116,175 Other assets 19,674 21,320 $ 922,788 $ 941,865 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 19,026 $ 34,746 Accrued liabilities 87,605 116,227 Deferred revenue 39,448 36,669 Total current liabilities 146,079 187,642 Long-term portion of deferred revenue 24,434 24,864 Operating leases 6,925 7,421 Other long-term liabilities 2,657 2,956 Total liabilities 180,095 222,883 Commitments and contingencies (See Note 6) Stockholders' equity: Preferred stock, $ 0.025 par value; 5,000 shares authorized; no shares issued and outstanding as of March 30, 2024 and December 31, 2023 — — Common stock, $ 0.025 par value; 100,000 shares authorized; 65,525 shares issued and outstanding as of March 30, 2024, and 65,052 shares issued and outstanding as of December 31, 2023 1,638 1,627 Additional paid-in capital 1,102,314 1,078,393 Accumulated other comprehensive loss ( 983 ) ( 659 ) Accumulated deficit ( 360,276 ) ( 360,379 ) Total stockholders' equity 742,693 718,982 $ 922,788 $ 941,865 See accompanying notes to condensed consolidated financial statements. 4 Table of Contents CALIX, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In thousands, except per share data) (Unaudited) Three Months Ended March 30, 2024 April 1, 2023 Revenue $ 226,310 $ 250,008 Cost of revenue 103,733 121,957 Gross profit 122,577

View Full Filing

View this 10-Q filing on SEC EDGAR