Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 57

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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 28, 2025, compared to $29.9 million for the three and six months ended June 29, 2024, on certain U.S. federal and state deferred tax assets that the Company believes are not more likely than not to be realized in future periods.The Company considered scheduled reversals of deferred tax liabilities, historic profitability, projected future taxable income, ongoing tax planning strategies and other matters, including the period over which its deferred tax assets will be recoverable, in assessing the need for and the amount of the valuation allowance. In the event that actual results differ from these estimates, or if the Company decides to adjust these estimates in the future periods, further adjustments to its valuation allowance may be recorded, which could materially impact the Company’s financial position and net income in the period of the adjustment.

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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