Company: CALX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001406666-25-000008
Chunk: 144

Company: CALIX, INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 144
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,325 Other comprehensive income— — — 1,814 — 1,814 Balance as of December 31, 202365,052 1,627 1,078,393 (659)(360,379)718,982 Stock-based compensation— — 70,761 — — 70,761 Issuance of common stock under equity incentive plans, net of forfeitures1,724 43 31,549 — — 31,592 Repurchase of common stock including excise tax(342)(9)(10,686)— — (10,695)Net loss— — — — (29,747)(29,747)Other comprehensive income— — — 47 — 47 Balance as of December 31, 202466,434 $1,661 $1,170,017 $(612)$(390,126)$780,940 

See accompanying notes to consolidated financial statements.

40

CALIX, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

 Years Ended December 31,202420232022Operating activities:Net income (loss)$(29,747)$29,325 $41,010 Adjustments to reconcile net income (loss) to net cash provided by operating activities:Stock-based compensation70,761 62,771 44,826 Depreciation and amortization19,550 16,631 14,315 Deferred income taxes(9,969)(660)1,932 Net accretion of available-for-sale securities(5,286)(4,199)(1,146)Changes in operating assets and liabilities:Accounts receivable, net46,706 (32,222)(8,585)Inventory30,258 16,175 (60,280)Prepaid expenses and other assets11,167 (60,795)(38,359)Accounts payable(15,138)(6,369)12,111 Accrued liabilities(31,926)37,070 20,919 Deferred revenue(13,900)2,921 9,118 Other long-term liabilities(4,076)(4,397)(8,678)Net cash provided by operating activities68,400 56,251 27,183 Investing activities:Purchases of property and equipment(18,054)(17,855