Company: CALX
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001406666-25-000016
Chunk: 38

Company: CALIX, INC
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 8
Chunk 38
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 transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The Company utilizes the following three-tier value hierarchy, which prioritizes the inputs used in measuring fair value:Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.Level 2 – Observable inputs other than quoted prices included in Level 1 for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-driven valuations in which all significant inputs and significant value drivers are observable in active markets.Level 3 – Unobservable inputs to the valuation derived from fair valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The fair value hierarchy also requires the Company to maximize the use of observable inputs, when available, and to minimize the use of unobservable inputs when determining inputs and determining fair value.The following tables sets forth the Company’s financial assets measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands): As of March 29, 2025Level 1Level 2TotalMoney market funds$8,937 $— $8,937 U.S. government securities49,036 — 49,036 Corporate debt securities— 126,497 126,497 Commercial paper— 49,615 49,615 U.S. government agency securities— 19,875 19,875 Certificates of deposit— 12,623 12,623 $57,973 $208,610 $266,583 As of December 31, 2024Level 1Level 2TotalMoney market funds$4,890 $— $4,890 U.S. government securities74,132 — 74,132 Corporate debt securities— 123,701 123,701 Commercial paper— 32,773 32,773 U.S. government agency securities— 24,411 24,411 Certificates of deposit— 16,520 16,520 $79,022 $197,405 $276,427 

5.  Balance Sheet Details

Accounts receivable, net consisted of the following (in thousands):March 29,2025December 31,2024Accounts receivable$75,943 $79,632 Allowance for doubtful accounts(432