Company: CALX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001406666-25-000045
Chunk: 63

Company: CALIX, INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 and on various other factors that are believed to be reasonable under the circumstances. To the extent there are material differences between these estimates and actual results, our financial statements may be affected. Our management evaluates its estimates, assumptions and judgments on an ongoing basis.

Our critical accounting policies and estimates, which are revenue recognition and inventory valuation and supplier purchase commitments, are described under “Critical Accounting Policies and Estimates” in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our Annual Report on Form 10-K for the year ended December 31, 2024. For the nine months ended September 27, 2025, there have been no significant changes in our critical accounting policies and estimates.

Recent Accounting Pronouncements

There have been no additional accounting pronouncements or changes in accounting pronouncements during the nine months ended September 27, 2025 as compared with the recent accounting pronouncements described in our Annual Report on Form 10-K for the year ended December 31, 2024 that are significant or expected to be significant to us.

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Table of Contents

Results of Operations

Comparison of the Three and Nine Months Ended September 27, 2025 and September 28, 2024

Revenue

The following table sets forth our revenue by customer size (dollars in thousands):

 Three Months EndedNine Months EndedSeptember 27,2025September 28,2024VarianceinDollarsVarianceinPercentSeptember 27,2025September 28,2024VarianceinDollarsVarianceinPercentLarge$34,747 $9,739 $25,008 257 %$84,227 $37,840 $46,387 123 %Medium30,236 24,070 6,166 26 %94,349 76,323 18,026 24 %Small200,454 167,136 33,318 20 %548,985 511,231 37,754 7 %$265,437 $200,945 $64,492 32 %$727,561 $625,394 $102,167 16 %

Our revenue increased by $64.5 million and $102.2 million for the three and nine months ended September 27, 2025, respectively, as compared to the corresponding periods in 2024. After bottoming in the second quarter last year, we have experienced sequential quarterly revenue growth