Company: CALX
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001406666-25-000016
Chunk: 40

Company: CALIX, INC
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 8
Chunk 40
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 and Contingencies

Lease CommitmentsThe Company leases office space under non-cancelable operating leases. Certain of the Company’s operating leases contain renewal options and rent acceleration clauses. Future minimum payments under the non-cancelable operating leases consisted of the following as of March 29, 2025 (in thousands):PeriodFuture Minimum Lease PaymentsRemainder of 2025$3,377 20261,721 20271,254 2028708 2029 and thereafter340 Total future minimum lease payments7,400 Less imputed interest(361)$7,039 As of March 29, 2025, the operating lease liability consisted of the following (in thousands):Accrued liabilities - current portion of operating leases$3,661 Operating leases3,378 $7,039 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 $1.9 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 March 29, 2025 was 4.7%. The weighted average remaining lease term as of March 29, 2025 was 2.6 years.For the three months ended March 30, 2024 and March 29, 2025, rent expense was $1.1 million for each respective period. Cash paid within operating cash flows for operating leases was $1.2 million and $1.1 million for the three months ended March 29, 2025 and March 30, 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