Company: CALX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001406666-25-000045
Chunk: 26

Company: CALIX, INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 26
---
 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 ("OB3"), which includes a broad range of tax reform provisions affecting businesses. The OB3 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 OB3 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 has accounted for the effects of the OB3 in the interim financial statements for the period ended September 27, 2025, of which the primary impact is a reduction of current tax liabilities and a corresponding reduction in deferred tax assets. The Company will continue to evaluate the impacts of OB3 including the potential impacts on future periods and tax planning strategies.

17

Table of Contents

11.  Net Income (Loss) Per Common Share

The following table sets forth the computation of basic and diluted net income (loss) per common share for the periods indicated (in thousands, except per share data): Three Months EndedNine Months EndedSeptember 27,2025September 28,2024September 27,2025September 28,2024Numerator:Net income (loss)$15,658 $(3,968)$10,672 $(11,823)Denominator:Weighted-average common shares outstanding used to compute basic net income (loss) per share65,753 66,078 65,771 65,700 Effect of dilutive common stock equivalents4,036 — 3,202 — Weighted-average common shares outstanding used to compute diluted net income (loss) per share69,789 66,078 68,973 65,700 Net income (loss) per common share:Basic net income (loss) per common share$0.24 $(0.06)$0.16 $(0.18)Diluted net income (loss) per common share$0.22 $(0.06)$0.15 $(0.18)Potentially dilutive shares excluded, weighted average3,874 12,294 7,028