Calix, Inc. Files Q3 2024 10-Q

TL;DR

Calix 10-Q filed: Q3 2024 financials out, showing retained earnings and paid-in capital updates.

AI Summary

Calix, Inc. filed its 10-Q for the period ending September 28, 2024, reporting on its financial performance. The company's fiscal year ends on December 31st. Key financial data points from previous periods, such as retained earnings and additional paid-in capital as of June 30, 2024, and September 28, 2024, are included in the filing.

Why It Matters

This filing provides investors and analysts with an update on Calix, Inc.'s financial health and operational performance for the third quarter of 2024.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not contain immediate red flags.

Key Numbers

• 2024-09-28 — Period End Date (The end of the reporting period for this 10-Q.)
• 2024-10-29 — Filing Date (The date the 10-Q was officially filed with the SEC.)
• 12/31 — Fiscal Year End (Indicates the end of Calix, Inc.'s fiscal year.)

Key Players & Entities

• CALIX, INC (company) — Filer of the 10-Q report
• 20240928 (date) — Conformed period of report
• 20241029 (date) — Filing date
• 0001406666 (company) — Central Index Key for Calix, Inc.

FAQ

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-20240928.htm (10-Q) — 1115KB
• calx_24q3ex311.htm (EX-31.1) — 11KB
• calx_24q3ex312.htm (EX-31.2) — 11KB
• calx_24q3ex321.htm (EX-32.1) — 10KB
• 0001406666-24-000039.txt ( ) — 5722KB
• calx-20240928.xsd (EX-101.SCH) — 36KB
• calx-20240928_cal.xml (EX-101.CAL) — 74KB
• calx-20240928_def.xml (EX-101.DEF) — 142KB
• calx-20240928_lab.xml (EX-101.LAB) — 524KB
• calx-20240928_pre.xml (EX-101.PRE) — 349KB
• calx-20240928_htm.xml (XML) — 757KB

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 (Loss) 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 20 Liquidity and Capital Resources 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 25

Controls and Procedures

Item 4. Controls and Procedures 26

OTHER INFORMATION

PART II. OTHER INFORMATION 27

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 42

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 43

SIGNATURES

SIGNATURES 44 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) September 28, 2024 December 31, 2023 (Unaudited) (See Note 1) ASSETS Current assets: Cash and cash equivalents $ 62,361 $ 63,409 Marketable securities 225,223 156,937 Accounts receivable, net 85,272 126,027 Inventory 100,609 132,985 Prepaid expenses and other current assets 111,553 118,598 Total current assets 585,018 597,956 Property and equipment, net 31,105 29,461 Right-of-use operating leases 7,516 9,262 Deferred tax assets 177,775 167,691 Goodwill 116,175 116,175 Other assets 19,936 21,320 $ 937,525 $ 941,865 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 24,318 $ 34,746 Accrued liabilities 76,075 116,227 Deferred revenue 29,513 36,669 Total current liabilities 129,906 187,642 Long-term portion of deferred revenue 21,384 24,864 Operating leases 4,795 7,421 Other long-term liabilities 2,752 2,956 Total liabilities 158,837 222,883 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 September 28, 2024 and December 31, 2023 — — Common stock, $ 0.025 par value; 100,000 shares authorized; 66,318 shares issued and outstanding as of September 28, 2024, and 65,052 shares issued and outstanding as of December 31, 2023 1,658 1,627 Additional paid-in capital 1,148,742 1,078,393 Accumulated other comprehensive income (loss) 490 ( 659 ) Accumulated deficit ( 372,202 ) ( 360,379 ) Total stockholders' equity 778,688 718,982 $ 937,525 $ 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 Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Re

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