Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 16

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---
 and thereafter340 Total future minimum lease payments6,255 Less imputed interest(285)$5,970 As of June 28, 2025, the operating lease liability consisted of the following (in thousands):Accrued liabilities - current portion of operating leases$3,017 Operating leases2,953 $5,970 

12

Table of Contents

The Company leases its headquarters office space in San Jose, California under a lease agreement that expires in December 2025. The future minimum lease payments under the lease are $1.3 million and are included in the table above. In December 2024, the Company entered into a new headquarters office lease agreement for 23,000 square feet in San Jose, California. The lease is expected to commence in August 2025 for a term of 90 months. The future minimum lease payments of $8.9 million are not included in the table above.The weighted average discount rate for the Company’s operating leases as of June 28, 2025 was 4.4%. The weighted average remaining lease term as of June 28, 2025 was 2.5 years.For the three and six months ended June 28, 2025, rent expense was $1.1 million and $2.2 million, respectively. For the three and six months ended June 29, 2024, rent expense was $1.2 million and $2.3 million, respectively. Cash paid within operating cash flows for operating leases was $2.3 million and $2.2 million for the six months ended June 28, 2025 and June 29, 2024, respectively.Purchase CommitmentsThe Company’s contract manufacturers (“CMs”) and original design manufacturers (“ODMs”) place orders for component inventory based upon the Company’s build forecasts and pursuant to stated component lead times to ensure adequate component supply. The components are used by the CMs and ODMs to build the products included in the build forecasts. The Company generally does not take ownership of the components held by CMs and ODMs. The Company places purchase orders with its CMs and ODMs in order to fulfill its monthly finished product inventory requirements. The Company incurs a liability when the CMs and ODMs convert the component inventory to a finished product and takes ownership of the finished goods inventory.The Company has from time to time, and subject to certain conditions, reimbursed certain suppliers for component