Company: CALX
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001406666-25-000016
Chunk: 24

Company: CALIX, INC
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 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, 2024. For the three months ended March 29, 2025, 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 three months ended March 29, 2025 as compared with the recent accounting pronouncements described in our Annual Report on Form 10-K for the year ended December 31, 2024 that are significant or expected to be significant to us.

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Table of Contents

Results of Operations

Comparison of the Three Months Ended March 29, 2025 and March 30, 2024

Revenue

The following table sets forth our revenue by customer size (dollars in thousands):

 Three Months EndedMarch 29,2025March 30,2024VarianceinDollarsVarianceinPercentLarge$21,644 $16,105 $5,539 34 %Medium24,861 27,886 (3,025)(11)%Small173,737 182,319 (8,582)(5)%$220,242 $226,310 $(6,068)(3)%

Our revenue decreased by $6.1 million for the three months ended March 29, 2025 as compared to the corresponding period in 2024. As with others in the telecommunication industry, our business went through a period of adjustments following the COVID pandemic, which resulted in