Company: CALX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001406666-25-000008
Chunk: 170

Company: CALIX, INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 170
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2024 and 2023, the Company had unrecognized tax benefits of $34.6 million and $32.4 million, respectively, $18.9 million of which would affect the Company’s effective tax rate if recognized. There were no accrued interest or penalties for uncertain income tax as of December 31, 2024.The Company files tax returns in the United States and various state jurisdictions, China, India and the United Kingdom. The tax years 2000 through 2024 remain open and subject to examination by the appropriate governmental agencies due to tax attribute carryforwards.In December 2021, the Organization for Economic Cooperation and Development enacted model rules for a new global minimum tax framework (“Pillar Two”), and certain governments in countries which the Company operates have enacted local Pillar Two legislation, with an effective date from January 1, 2024. The Company currently does not expect Pillar Two to have a material impact on its financial statements.

10.  Net Income (Loss) Per Common Share

The computation of basic and diluted net income (loss) per common share for the periods indicated was as follows (in thousands, except per share data): Years Ended December 31,2024 2023 2022Numerator:Net income (loss)$(29,747)$29,325 $41,010 Denominator:Weighted-average common shares — basic65,879 65,980 65,058 Effect of dilutive potential common shares— 3,340 3,853 Weighted-average common shares — diluted65,879 69,320 68,911 Basic net income (loss) per common share$(0.45)$0.44 $0.63 Diluted net income (loss) per common share$(0.45)$0.42 $0.60 Potentially dilutive shares excluded, weighted-average12,057 4,688 1,758 Unvested restricted stock awards are included in the calculation of basic weighted-average shares for all periods presented with net income because such shares are participating securities; however, the impact was immaterial.Potentially dilutive shares have been excluded from the computation of diluted net income per common share when their effect is antidilutive. These antidilutive shares were primarily from stock options.

11.  Revenue from Contracts with Customers

Contract AssetContract assets include amounts recognized as revenue prior to the Company’s contractual right to bill the customer. Amounts are billed