Calix CFO Departs; Interim Appointed
Ticker: CALX · Form: 8-K · Filed: Apr 22, 2024 · CIK: 1406666
| Field | Detail |
|---|---|
| Company | Calix, Inc (CALX) |
| Form Type | 8-K |
| Filed Date | Apr 22, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.025 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, cfo-departure
Related Tickers: CALX
TL;DR
Calix CFO Vernon Lo out, Michael Weening steps in as interim. Search for permanent CFO underway.
AI Summary
On April 22, 2024, Calix, Inc. filed an 8-K report to announce the departure of its Chief Financial Officer, Vernon J. Lo, effective April 22, 2024. The company has initiated a search for a permanent CFO and has appointed Michael J. Weening as interim CFO. Weening previously served as the company's Executive Vice President of Finance.
Why It Matters
The unexpected departure of a CFO can signal internal changes or concerns, potentially impacting investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: medium — A CFO departure, especially without immediate replacement, can create uncertainty regarding financial leadership and strategy.
Key Players & Entities
- Calix, Inc. (company) — Registrant
- Vernon J. Lo (person) — Chief Financial Officer
- April 22, 2024 (date) — Effective date of CFO departure
- Michael J. Weening (person) — Interim Chief Financial Officer
- Executive Vice President of Finance (role) — Michael J. Weening's previous role
FAQ
Who has been appointed as the interim Chief Financial Officer of Calix, Inc.?
Michael J. Weening has been appointed as the interim Chief Financial Officer of Calix, Inc.
When did Vernon J. Lo's departure as CFO become effective?
Vernon J. Lo's departure as CFO became effective on April 22, 2024.
What is Calix, Inc. doing to find a permanent CFO?
Calix, Inc. has initiated a search for a permanent Chief Financial Officer.
What was Michael J. Weening's previous role at Calix, Inc.?
Michael J. Weening previously served as the Executive Vice President of Finance at Calix, Inc.
What is the filing date of this 8-K report?
The filing date of this 8-K report is April 22, 2024.
Filing Stats: 767 words · 3 min read · ~3 pages · Grade level 11.1 · Accepted 2024-04-22 16:19:17
Key Financial Figures
- $0.025 — ich Registered Common Stock, par value $0.025 per share CALX New York Stock Exchange
Filing Documents
- calx-20240422.htm (8-K) — 42KB
- ex991pressrelease24q1.htm (EX-99.1) — 6KB
- ex992stockholderletter24q1.htm (EX-99.2) — 296KB
- a1rev.jpg (GRAPHIC) — 40KB
- a2revcust.jpg (GRAPHIC) — 64KB
- a3platform.jpg (GRAPHIC) — 78KB
- a4rpo.jpg (GRAPHIC) — 48KB
- a5gm.jpg (GRAPHIC) — 59KB
- a6opex.jpg (GRAPHIC) — 51KB
- a7ni.jpg (GRAPHIC) — 43KB
- a8cashconv.jpg (GRAPHIC) — 38KB
- a9cf.jpg (GRAPHIC) — 46KB
- calixlogo.jpg (GRAPHIC) — 4KB
- calixlogoa.jpg (GRAPHIC) — 4KB
- sindelarsignaturea10.jpg (GRAPHIC) — 12KB
- weeningsig.jpg (GRAPHIC) — 4KB
- 0001406666-24-000016.txt ( ) — 1171KB
- calx-20240422.xsd (EX-101.SCH) — 2KB
- calx-20240422_lab.xml (EX-101.LAB) — 21KB
- calx-20240422_pre.xml (EX-101.PRE) — 12KB
- calx-20240422_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On April 22, 2024, Calix, Inc. (the "Company") issued a press release announcing it has publicly disseminated a stockholder letter with its financial results for the first quarter ended March 30, 2024. The press release is attached hereto as Exhibit 99.1. The stockholder letter, a copy of which is attached hereto as Exhibit 99.2 and incorporated herein by reference, includes reference to the non-GAAP measures of non-GAAP gross margin, non-GAAP operating expenses, non-GAAP sales and marketing investments, non-GAAP research and development investments, non-GAAP general and administrative investments, non-GAAP effective income tax rate, non-GAAP net income, non-GAAP net income per diluted common share and non-GAAP free cash flow. These non-GAAP measures are provided to enhance the reader's understanding of the Company's operating performance as they primarily exclude non-cash stock-based compensation, inventory and component liability charges, intangible asset amortization, litigation settlement and the impact from changes in income taxes, which the Company believes are not indicative of its core operating results. Management believes that the non-GAAP measures used in this stockholder letter provide investors with important perspectives into the Company's ongoing business performance and management uses these non-GAAP measures to evaluate financial results and to establish operational goals. The presentation of these non-GAAP measures is not meant to be a substitute for results presented in accordance with U.S. GAAP, but rather should be evaluated in conjunction with those GAAP results. A reconciliation of the non-GAAP results to the most directly comparable U.S. GAAP results is contained in tabular form in Exhibit 99.2. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. Such inform
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release, dated April 22 , 2024 announcing first quarter 202 4 financial results. 99.2 Stockholder Letter dated April 22 , 2024 announcing financial results of the Company. 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 22, 2024 CALIX, INC. By: /s/ Cory Sindelar Cory Sindelar Chief Financial Officer 4 EXHIBIT INDEX Exhibit No. Description 99.1 Press Release, dated April 22 , 2024 announcing f irst quarter 202 4 financial results. 99.2 Stockholder Letter dated April 22 , 2024 announcing financial results of the Company. 5