Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 26

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 1
Chunk 26
---
 adjustment.

17

Table of Contents

In December 2021, the Organization for Economic Cooperation and Development enacted model rules for a new global minimum tax framework (“Pillar Two”), and certain governments in countries in which the Company operates have enacted local Pillar Two legislation, with an effective date from January 1, 2024. The Company currently does not expect Pillar Two to have a material impact on its financial statements.On July 4, 2025, President Trump signed the One Big Beautiful Bill Act ("OBBBA"), which includes a broad range of tax reform provisions affecting businesses. The OBBA includes numerous changes to existing tax law including extending or making permanent certain business and international tax measures initially established under the 2017 Tax Cuts and Jobs Act, which were set to expire.  Additionally, the OBBBA permanently eliminates the requirement to capitalize and amortize U.S.-based research and experimental expenditures over five years, making these expenditures fully deductible in the period incurred. The Company expects these provisions to result in a reduction of current income tax liabilities and a corresponding reduction to deferred tax assets. The Company will continue to analyze the OBBBA and its impact on its financial statements and will reflect any impact in the period of enactment.

11.  Net Loss Per Common Share

The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated (in thousands, except per share data): Three Months EndedSix Months EndedJune 28,2025June 29,2024June 28,2025June 29,2024Numerator:Net loss$(199)$(7,958)$(4,986)$(7,855)Denominator:Weighted-average common shares outstanding used to compute basic net loss per share64,525 65,678 65,321 65,509 Basic and diluted net loss per common share$(0.00)$(0.12)$(0.08)$(0.12)Potentially dilutive shares excluded, weighted average15,086 12,300 14,369 11,863 Potentially dilutive shares have been excluded from the computation of diluted net loss per common share when their effect is antidilutive. These antidilutive shares were primarily from stock options.

18

Table of Contents

ITEM 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 193