Calix Inc.

07/21/2026 | Press release | Distributed by Public on 07/21/2026 14:04

Quarterly Report for Quarter Ending June 27, 2026 (Form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations
This report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts are "forward-looking statements" for purposes of these provisions, including any projections of earnings, revenue or other financial items, any statement of or concerning the following: the plans and objectives of management for future operations, proposed new products or licensing, product development, anticipated customer demand or capital expenditures, anticipated growth and trends in our business and industry, future economic and/or market conditions or performance and assumptions underlying any of the above. In some cases, forward-looking statements can be identified by the use of terminology such as "could," "may," "will," "would," "expects," "believes," "intends," "plans," "anticipates," "estimates," "projects," "predicts," "potential" or "continue" or the negative thereof or other comparable terminology. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. Although we believe that the expectations reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations or any of the forward-looking statements will prove to be correct, and actual results could differ materially from those projected or assumed in the forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to inherent risks and uncertainties, including those identified in the Risk Factors discussed in Part II, Item 1A, of this Quarterly Report on Form 10-Q, as well as in other sections of this report and in our Annual Report on Form 10-K for the year ended December 31, 2025. All forward-looking statements and reasons why results may differ included in this Quarterly Report on Form 10-Q are made as of the date hereof, and we assume no obligation to update these forward-looking statements or reasons why actual results might differ.
Overview
We develop, market and sell platform, cloud and managed services, which are powered by agentic AI, that enable communications service providers ("CSPs") providers of all types and sizes to innovate and transform their businesses to focus on delivering outstanding subscriber experiences and become communication experience providers' ("CXPs"). The platform combines the Calix Agent Workforce™ with intelligent appliances, software, cloud and fully integrated SmartLife™ managed services to enable simplified business models that acquire, retain and grow subscribers and revenue. Calix Customer Success guides service providers through every stage of their transformation journey with expertise across technology, business and market insights. Our partner community extends innovation so customers can grow their businesses across markets at scale. With deep broadband expertise and an end-to-end approach from the datacenters' access edge to every residential, business and municipal subscriber location, Calix enables any service provider to simplify operations, engagement and service; innovate for their subscribers; and grow value for members, investors and the communities they serve. This focus on subscriber experience allows CXPs to expand their brand through increased subscriber acquisition, loyalty and revenue while reducing their operating costs.
We market our platform, cloud and managed services to CSPs globally through our direct sales force as well as select resellers. Our customers range from smaller, regional service providers to some of the world's largest service providers. We have approximately 1,600 active customers that have deployed passive optical, Active Ethernet or point-to-point Ethernet fiber access networks or our subscriber premise appliances.
Our revenue and potential revenue growth will depend on, among other things, our ability to develop, market and sell our platform and managed services to strategically aligned customers of all types such as managed service providers ("MSPs"), local and competitive exchange carriers, cable multiple system operators ("MSOs"), wireless internet service providers ("WISPs"), fiber overbuilders such as municipalities, electric cooperatives, tribal communities, multiple dwelling units ("MDUs") and hospitality providers in the U.S. and internationally. Our growth is also highly dependent on the speed and willingness of customers to adopt our platform and managed services.
Revenue fluctuations result from many factors, including, but not limited to: increases or decreases in customer orders for our products and services, global economic and geopolitical events and conditions, including tariffs (and certainty related to the enforceability thereof), trade controls, inflation, economic downturns and market, financial or other factors such as government stimulus or shutdowns that may delay or materially impact customer purchasing decisions, non-availability of products due to supply chain challenges, including component and labor shortages and increasing lead times as well as disruptions as a result of pandemics or natural disasters, contractual terms with customers that result in delayed revenue recognition and varying budget cycles and seasonal buying patterns of our customers. More specifically, our customers have in the past spent less in the first quarter as they are finalizing their annual budgets, and in certain regions, customers are challenged by winter weather conditions that inhibit fiber deployment in outside infrastructure. Our revenue is also dependent upon our customers' success in growing their subscribers, timing of purchases, capital expenditure plans and decisions to upgrade their networks or adopt new technologies, including adoption of our software and cloud platform solutions, as well as our ability to grow our customer base.
Tableof Contents
Cost of revenue is strongly correlated to revenue and tends to fluctuate due to all the above factors that may cause revenue fluctuations. Factors that have impacted our cost of revenue, or that we expect may impact cost of revenue in future periods, also include: changes in the mix of products delivered, customer location and regional mix, changes in the cost of our inventory, investments to support expansion of cloud and customer support offerings as well as our customer success organization, changes in product warranty, incurrence of retrofit costs, amortization of intangibles, allowances for obligations to our suppliers and inventory write-downs. Factors that we expect may impact our cost of revenue in future periods include the same factors in the prior quarter, changes in trade policies and increased memory component prices due to shortages caused by the large scale build out of AI infrastructure. Regarding trade policies, in February 2026, The U.S. Supreme Court ruled that the broad tariffs implemented under International Emergency Economic Powers Act ("IEEPA") exceeded the administration's authority and eliminated those tariffs. We did not experience a significant financial impact as a result of the ruling because the majority of our finished goods are exempt from tariffs. For imported components for domestic manufacturing and certain finished goods, the original tariff increased our cost of revenue but have since abated. We continue to evaluate the actions we may be able to take to mitigate such costs as we monitor and navigate this challenging and dynamic operating environment. In addition, we periodically ship by air versus by ocean to meet delivery commitments to our customers, which is more costly. Cost of revenue also includes fixed expenses related to our internal operations, which could increase our cost of revenue as a percentage of revenue if our revenue declines.
Our gross profit and gross margin fluctuate based on timing of factors such as changes in customer mix and changes in the mix of products demanded and sold (and any related write-downs of existing inventory or accrual for supplier commitments) and have in the past been and may be negatively impacted by increases in mix of revenue from channel sales rather than direct sales or other unfavorable customer or product mix, shipment volumes and any related volume discounts, changes in our product and services costs, pricing decreases or discounts, new product introductions or upgrades to existing products, customer rebates and incentive programs due to competitive pressure or materials shortages, supply constraints, investments to support expansion of cloud and customer support offerings, tariffs or unfavorable changes in trade policies.
Our operating expenses fluctuate based on the following factors among others: changes in headcount and personnel costs, which comprise a significant portion of our operating expenses; variable compensation due to fluctuations in shipment volumes or level of achievement against performance targets; timing of research and development expenses, including investments in innovative solutions and new customer segments, prototype builds and outsourced development resources; investments in marketing programs; asset write-offs; investments in our business and information technology infrastructure; and fluctuations in stock-based compensation expenses due to timing of equity grants or other factors affecting vesting.
Further, as a result of factors contributing to the fluctuations described above among other factors, many of which are outside our control, our quarterly operating results fluctuate from period to period. Comparing our operating results on a period-to-period basis may not be meaningful, and you should not rely on our past results as an indication of our future performance.
Critical Accounting Policies and Estimates
Our financial statements are prepared in accordance with U.S. GAAP. These accounting principles require us to make certain estimates and judgments that can affect the reported amounts of assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the periods presented. Management bases its estimates, assumptions and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances. To the extent there are material differences between these estimates and actual results, our financial statements may be affected. Our management evaluates its estimates, assumptions and judgments on an ongoing basis.
Our critical accounting policies and estimates, which are revenue recognition and inventory valuation and supplier purchase commitments, are described under "Critical Accounting Policies and Estimates" in "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in our Annual Report on Form 10-K for the year ended December 31, 2025. For the six months ended June 27, 2026, there have been no significant changes in our critical accounting policies and estimates.
Recent Accounting Pronouncements
There have been no additional accounting pronouncements or changes in accounting pronouncements during the six months ended June 27, 2026 as compared with the recent accounting pronouncements described in our Annual Report on Form 10-K for the year ended December 31, 2025 that are significant or expected to be significant to us.
Tableof Contents
Results of Operations
Comparison of the Three and Six Months Ended June 27, 2026 and June 28, 2025
Revenue
The following table sets forth our revenue (dollars in thousands):
Three Months Ended Six Months Ended
June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent 		June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent
Revenue:
Appliance $ 242,783 $ 198,126 $ 44,657 23 % $ 475,626 $ 377,869 97,757 26 %
Software and service 50,546 43,756 6,790 16 % 97,687 84,255 13,432 16 %
$ 293,329 $ 241,882 $ 51,447 21 % $ 573,313 $ 462,124 $ 111,189 24 %
Our revenue increased by $51.4 million and $111.2 million during the three and six months ended June 27, 2026, respectively, compared to the corresponding periods in 2025. The increase in appliance revenue was primarily due to the adoption of our platform, cloud and managed services by new customers as we continue to take footprint from legacy box vendors and the continued robust expansion of our appliances within our existing customer base. The increase in software and service revenue was primarily due to our CXP customers adding new subscribers. Our software is sold on a per-subscriber basis. CXPs use our platform, cloud and managed services to deliver better subscriber experiences as evidenced by best-in-class Net Promoter ScoresSM, thereby allowing them to take market share.
United States revenue was $277.7 million and $543.1 million during the three and six months ended June 27, 2026, respectively, or 95% of our revenue for both periods, compared to $219.0 million and $430.2 million, or 91% and 93% of our revenue, respectively, for the corresponding periods in 2025. International revenue was $15.6 million and $30.3 million during the three and six months ended June 27, 2026, or 5% of our revenue for both periods, as compared to $22.8 million and $31.9 million, or 9% and 7% of our revenue, respectively, for the corresponding periods in 2025. Our primary focus has been, and in the near term is expected to be, the U.S. and Canada given our large, direct sales and marketing presence and the amount of government stimulus being invested into underserved and not-served areas of these countries. However, with the introduction of our third-generation platform, we plan to increase our attention on international markets.
One customer accounted for 12% of our revenue for the three months ended June 27, 2026. No customer accounted for more than 10% of our revenue for the six months ended June 27, 2026 or the three and six months ended June 28, 2025.
Gross Profit and Gross Margin
The following table sets forth our gross profit and gross margin (dollars in thousands):
Three Months Ended Six Months Ended
June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent 		June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent
Gross profit:
Appliance $ 128,286 $ 107,852 $ 20,434 19 % $ 261,993 $ 204,850 $ 57,143 28 %
Software and service 31,838 28,443 3,395 12 % $ 57,427 $ 54,153 3,274 6 %
$ 160,124 $ 136,295 $ 23,829 17 % $ 319,420 $ 259,003 $ 60,417 23 %
Gross margin:
Appliance 52.8 % 54.4 % (160) bps 55.1 % 54.2 % 90 bps
Software and service 63.0 % 65.0 % (200) bps 58.8 % 64.3 % (550) bps
54.6 % 56.3 % (170) bps 55.7 % 56.0 % (30) bps
Gross profit increased to $160.1 million and $319.4 million for the three and six months ended June 27, 2026 from $136.3 million and $259.0 million for the corresponding periods in 2025. This increase was mainly due to the corresponding increase in revenue. Our gross margin decreased by 170 basis points for the three months ended June 27, 2026 compared to the corresponding period in 2025, primarily related to increased component memory costs. Our gross margin decreased by 30 basis points for the six months ended June 27, 2026 compared to the corresponding period in 2025, primarily related to a decline in our software and service gross margin, which declined by 550 basis points due to the transition from our second-generation platform to our third-generation platform where we operated in a dual cloud environment to successfully support customer migrations during a portion of the respective periods.
Operating Expenses
Tableof Contents
Sales and Marketing Expenses
The following table sets forth our sales and marketing expenses (dollars in thousands):
Three Months Ended Six Months Ended
June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent 		June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent
Sales and marketing expenses $ 62,338 $ 63,653 $ (1,315) (2) % $ 125,824 $ 121,712 $ 4,112 3 %
Percent of revenue 21 % 26 % 22 % 26 %
Sales and marketing expenses for the three months ended June 27, 2026 decreased by $1.3 million compared with the corresponding period in 2025 primarily due to a decrease in stock-based compensation expense of $5.4 million. This decrease was partially offset by increases in personnel expenses of $1.6 million, mostly related to increased headcount, marketing expenses of $1.4 million, outside services of $0.5 million and software expenses of $0.4 million.
Sales and marketing expenses for the six months ended June 27, 2026 increased by $4.1 million compared with the corresponding period in 2025 primarily due to increases in personnel expenses of $6.2 million, mostly related to incentive compensation and increased headcount, marketing expenses of $1.2 million, outside services of $1.0 million and software expenses of $0.7 million. This increase was partially offset by a decrease in stock-based compensation expense of $5.2 million.
For the three and six months ended June 27, 2026, sales and marketing expenses as a percentage of revenue decreased to 21% from 26% and 22% from 26%, respectively, mainly due to increased revenue. We expect our investments in sales and marketing will increase in absolute dollars on a year-over-year basis, but decline as a percentage of revenue as we continue to land new customers and expand our platform, cloud and managed services.
Research and Development Expenses
The following table sets forth our research and development expenses (dollars in thousands):
Three Months Ended Six Months Ended
June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent 		June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent
Research and development expenses $ 52,754 $ 45,787 $ 6,967 15 % $ 107,400 $ 89,767 $ 17,633 20 %
Percent of revenue 18 % 19 % 19 % 19 %
Percentage of gross profit 33 % 34 % 34 % 35 %
Research and development expenses for the three months ended June 27, 2026 increased by $7.0 million as compared with the corresponding period in 2025 mainly due to increases in personnel expenses of $4.3 million mostly related to increased headcount, allocated shared services expenses of $1.0 million, outside services of $0.7 million, depreciation and amortization of $0.7 million and facilities expenses of $0.6 million. This increase was partially offset by a decrease in stock-based compensation expense of $0.6 million.
Research and development expenses for the six months ended June 27, 2026 increased by $17.6 million as compared with the corresponding period in 2025 mainly due to increases in personnel expenses of $9.4 million mostly related to increased headcount, outside services of $4.4 million, allocated shared services expenses of $1.5 million, depreciation and amortization of $1.5 million and facilities expenses of $0.6 million.
For the three and six months ended June 27, 2026, research and development expenses as a percentage of gross profit decreased to 33% from 34% and 34% from 35%, respectively, primarily due to the increase in revenue and gross margin and we expect our investments in research and development to increase in absolute dollars in the short term as we accelerate the development of artificial intelligence ("AI") functionality and capabilities of our platform, cloud and managed services.
Tableof Contents
General and Administrative Expenses
The following table sets forth our general and administrative expenses (dollars in thousands):
Three Months Ended Six Months Ended
June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent 		June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent
General and administrative expenses $ 23,183 $ 26,464 $ (3,281) (12) % $ 51,631 $ 53,214 $ (1,583) (3) %
Percent of revenue 8 % 11 % 9 % 12 %
General and administrative expenses for the three months ended June 27, 2026 decreased by $3.3 million as compared with the corresponding period in 2025 mainly due to decreases in stock-based compensation expense of $2.7 million and allocated shared services expenses of $1.5 million. This decrease was partially offset by an increase in depreciation and amortization of $0.8 million.
General and administrative expenses for the six months ended June 27, 2026 decreased by $1.6 million as compared with the corresponding period in 2025 mainly due to decreases in stock-based compensation expense of $3.0 million and allocated shared services expenses of $2.2 million. These decreases were partially offset by increases in depreciation and amortization of $1.8 million, personnel expenses of $0.6 million, facilities expenses of $0.4 million and software expenses of $0.3 million.
For the three and six months ended June 27, 2026, general and administrative expenses as a percentage of revenue decreased to 8% from 11% and 9% from 12%, respectively, mainly due to the increase in revenue. We expect our general and administrative investments to increase in absolute dollars but decline as a percentage of revenue.
Interest and Other Income (Expense), net
The following table sets forth our interest and other expense, net (dollars in thousands):
Three Months Ended Six Months Ended
June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent 		June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent
Interest and other income (expense), net $ 1,746 $ 3,036 $ (1,290) (42) % $ 4,262 $ 6,127 $ (1,865) (30) %
Percent of revenue 1 % 1 % 1 % 1 %
For the three and six months ended June 27, 2026, interest and other income (expense), net decreased by $1.3 million and $1.9 million, respectively, as compared with the corresponding periods in 2025 primarily due to a lower balance of marketable securities. We repurchased 5.0 million shares of common stock for $240.2 million using proceeds from the sale of marketable securities during the first half of 2026.
Income Taxes
The following table sets forth our income taxes (dollars in thousands):
Three Months Ended Six Months Ended
June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent 		June 27,
2026 		June 28,
2025 		Variance
in
Dollars 		Variance
in
Percent
Income taxes $ 6,484 $ 3,626 $ 2,858 79 % $ 10,506 $ 5,423 $ 5,083 94 %
Effective tax rate 27.5 % 105.8 % 27.1 % 1,241.0 %
For the three and six months ended June 27, 2026, our income tax expense was $6.5 million and $10.5 million, respectively, for an effective tax rate of 27.5% and 27.1%, respectively, which differed from the statutory rate of 21% primarily due to state taxes, the effect of non-deductible stock-based compensation for executive officers offset by the favorable impact of U.S. federal research tax credits and excess tax benefits from stock-based compensation. The effective tax rate for the three and six months ended June 27, 2026 is lower than the corresponding period in 2025 primarily due higher pre-tax earnings with a relatively similar level of non-deductible expenses, compared to break-even pre-tax results in the corresponding period in 2025.
Our income taxes may be subject to fluctuation during the year and in future years as new information is obtained. This may affect the assumptions used to estimate the interim income tax provision, including factors such as actual results differing from our estimates of pre-tax earnings in the various jurisdictions in which we operate, which could impact the recognition of our deferred tax assets, further benefits from stock option exercises, investments in our foreign operations, the recognition or de-recognition of tax benefits related to uncertain tax positions and changes in or the interpretation of tax laws in jurisdictions where we conduct business.
Tableof Contents
Liquidity and Capital Resources
We fund our operations and investing activities from cash flow generated from our operations as well as the issuance of common stock under our equity incentive plans. As of June 27, 2026, we had cash, cash equivalents and marketable securities of $194.3 million, which consisted of deposits held at banks and major financial institutions and highly liquid marketable securities such as U.S. government and its agency securities, corporate debt securities and commercial paper.
Operating Activities
Net cash provided by operating activities was $31.1 million for the six months ended June 27, 2026 and consisted of net income of $28.3 million and non-cash charges of $49.7 million partially offset by cash flow decreases of $46.8 million reflected in the net change in assets and liabilities. Non-cash charges primarily consisted of stock-based compensation of $37.3 million, depreciation and amortization of $8.8 million and deferred income taxes of $4.3 million partially offset by the net accretion of available-for-sale securities of $0.7 million.
Cash flow decreases resulting from the net change in assets and liabilities primarily consisted of an increase in inventory of $46.7 million to support future revenue, an increase in accounts receivable of $37.0 million due to higher revenue, an increase in prepaid expenses and other assets of $10.1 million mainly due to an increase in inventory deposits and a decrease in accrued liabilities of $9.6 million relating to various factors including a decrease in incentive compensation-related accruals. This was partially offset by an increase in accounts payable of $50.9 million due to increased inventory purchases and an increase in deferred revenue of $5.8 million primarily related to an increase in our remaining performance obligations on appliances.
Net cash provided by operating activities was $56.6 million for the six months ended June 28, 2025 and consisted of a net loss of $5.0 million offset by non-cash charges of $50.5 million and cash flow increases of $11.0 million reflected in the net change in assets and liabilities. Non-cash charges primarily consisted of stock-based compensation of $45.4 million and depreciation and amortization of $8.6 million partially offset by deferred income taxes of $1.3 million and the net accretion of available-for-sale securities of $2.1 million. Cash flow increases resulting from the net change in assets and liabilities primarily consisted of a decrease in accounts receivable of $16.2 million due to the linearity of shipments through the quarter and timing of customer payments, a decrease in prepaid expenses and other assets of $13.8 million mainly due to a reduction in our inventory deposits and an increase in accounts payable of $2.3 million due to the timing of inventory receipts. This was partially offset by an increase in inventory of $7.8 million to support increased revenue, a decrease in accrued liabilities of $11.7 million relating to various factors including a decrease in incentive compensation-related accruals and a decrease in deferred revenue of $1.7 million.
Investing Activity
For the six months ended June 27, 2026, cash provided by investing activities consisted of net maturities and sales of marketable securities of $119.6 million partially offset by capital expenditures of $12.7 million, consisting primarily of purchases of test equipment.
For the six months ended June 28, 2025, cash provided by investing activities of $25.9 million consisted of net maturities and sales of marketable securities of $33.9 million partially offset by capital expenditures of $8.0 million, consisting primarily of purchases of test and computer equipment.
Financing Activities
Net cash used in financing activities of $212.2 million for the six months ended June 27, 2026 primarily consisted repurchases of our common stock of $240.2 million partially offset by proceeds from the issuance of common stock related to our equity plans of $28.1 million.
Net cash used in financing activities of $49.3 million for the six months ended June 28, 2025 primarily consisted repurchases of our common stock of $73.5 million partially offset by proceeds from the issuance of common stock related to our equity plans of $24.2 million.
Working Capital and Capital Expenditure Needs
Our material cash commitments include non-cancelable firm purchase commitments, normal recurring trade payables, compensation-related and expense accruals and operating leases. We believe that our outsourced approach to manufacturing provides us significant flexibility in both managing inventory levels and financing our inventory. Furthermore, we have a common stock repurchase program, which had $94.1 million available as of June 27, 2026. Our stock repurchase program does not require us to purchase a specific number of shares and may be modified, suspended or terminated at any time. In April 2026, our Board of Directors authorized a $100.0 million increase to our common stock repurchase program.
Tableof Contents
We believe, based on our current operating plan and expected operating cash flows, that our existing cash, cash equivalents and marketable securities will be sufficient to meet our anticipated cash needs for at least the next twelve months. If we are unable to generate sufficient cash flows or obtain other sources of liquidity, we will be forced to limit or terminate our stock repurchase program, limit our development activities, reduce our investment in growth initiatives and/or institute cost-cutting measures, all of which may adversely impact our business and potential growth.
Contractual Obligations and Commitments
Our principal commitments as of June 27, 2026 consisted of contractual obligations under non-cancelable outstanding purchase obligations and operating lease obligations for office space. The following table summarizes our contractual obligations as of June 27, 2026 (in thousands):
Payments Due by Period
Total Less Than 1 Year 1-3 Years 3-5 Years More Than 5 Years
Non-cancelable purchase commitments (1)
$ 338,300 $ 260,037 $ 75,430 $ 2,833 $ -
Operating lease obligations (2)
16,390 3,498 5,885 4,581 2,426
$ 354,690 $ 263,535 $ 81,315 $ 7,414 $ 2,426
(1) Represents outstanding purchase commitments to be delivered by our third-party manufacturers or other vendors. See Note 6, "Commitments and Contingencies" of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for further discussion regarding our outstanding purchase commitments related to our third-party manufacturers.
(2) Future minimum operating lease obligations in the table above primarily include payments for our office locations, which expire at various dates through 2033. See Note 6 "Commitments and Contingencies" of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for further discussion regarding our operating leases.
Calix Inc. published this content on July 21, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 21, 2026 at 20:04 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]