Company: CALX
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001406666-25-000016
Chunk: 59

Company: CALIX, INC
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 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 March 29, 2025 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 March 29, 2025 (in thousands):

Payments Due by PeriodTotalLess Than 1 Year1-3 Years3-5 YearsMore Than 5 YearsNon-cancelable purchase commitments (1)$263,315 $149,736 $80,830 $31,645 $1,104 Operating lease obligations (2)16,305 4,007 5,140 3,331 3,827 $279,620 $153,743 $85,970 $34,976 $4,931 

(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, including our new San Jose headquarters lease that will commence in August 2025. 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.

ITEM 3.  Quantitative and Qualitative Disclosures About Market Risk 

Interest Rate Risk

The primary objectives of our investment activity are to preserve principal, provide liquidity and maximize income without 

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significantly increasing risk. By policy, we do not enter into investments for trading or speculative purposes. As of March 29, 2025, we had cash, cash equivalents and marketable securities of $282.3 million, which was held primarily in cash, money market funds and highly liquid marketable