Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 69

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 the issuance of common stock related to our equity plans of $14.8 million partially offset by repurchases of our common stock of $3.7 million.

Working Capital and Capital Expenditure Needs

Our material cash commitments include non-cancelable firm purchase commitments, normal recurring trade payables, compensation-related and expense accruals, operating leases and revenue-share obligations. We believe that our outsourced approach to manufacturing provides us significant flexibility in both managing inventory levels and financing our inventory. Furthermore, we have a common stock repurchase program, which had $129.4 million available as of June 28, 2025. In April 2025, our Board of Directors authorized a $100.0 million increase to this program. Our stock repurchase program does not require us to purchase a specific number of shares and may be modified, suspended or terminated at any time.

We believe, based on our current operating plan and expected operating cash flows, that our existing cash, cash equivalents and marketable securities will be sufficient to meet our anticipated cash needs for at 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 June 28, 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 June 28, 2025 (in thousands):

Payments Due by PeriodTotalLess Than 1 Year1-3 Years3-5 YearsMore Than 5 YearsNon-cancelable purchase commitments (1)$294,285 $187,051 $79,311 $27,187 $736 Operating lease obligations (2)15,158 3,615 4,847 3,190 3,506 $309,443 $190,666 $84,158 $30,377 $4,242 

(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, 

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Table of Contents

Item 1 of this Quarterly Report on Form