Company: CALX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001406666-25-000045
Chunk: 67

Company: CALIX, INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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1 million as compared with the corresponding period in 2024 mainly due to increases in personnel expenses of $1.9 million, mostly related to incentive compensation and increased headcount, and stock-based compensation of $1.6 million.

General and administrative expenses for the nine months ended September 27, 2025 increased by $8.4 million as compared with the corresponding period in 2024 mainly due to increases in personnel expenses of $4.7 million and stock-based compensation of $3.9 million. These increases were partially offset by a decrease in professional services expenses of $0.8 million.

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Table of Contents

For the three and nine months ended September 27, 2025, general and administrative expenses as a percentage of revenue were relatively flat compared to the same periods in 2024. We expect our general and administrative investments to be fairly constant in absolute dollars in the near term and decline as a percentage of revenue.

Interest and Other Expense, net

The following table sets forth our interest and other expense, net (dollars in thousands): Three Months EndedNine Months Ended September 27,2025September 28,2024VarianceinDollarsVarianceinPercentSeptember 27,2025September 28,2024VarianceinDollarsVarianceinPercentInterest and other expense, net$2,929 $3,104 $(175)(6)%$9,056 $8,278 $778 9 %Percent of revenue1 %2 %1 %1 %

For the three months ended September 27, 2025, interest and other expense, net was down slightly compared with the corresponding period in 2024 due to lower accretion of marketable securities. For the nine months ended September 27, 2025, interest and other expense, net increased by $0.8 million compared with the same period a year ago as we had a larger average cash balance.

Income Taxes

The following table sets forth our income taxes (dollars in thousands):

 Three Months EndedNine Months Ended September 27,2025September 28,2024VarianceinDollarsVarianceinPercentSeptember 27,2025September 28,2024VarianceinDollarsVarianceinPercentIncome taxes (benefit)$4,676 $(3,824)$8,500 (222)%$10,099 $(4,183)$14,282 (