Company: CALX
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001406666-25-000016
Chunk: 11

Company: CALIX, INC
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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December 31,2024Compensation and related benefits$23,074 $36,004 Component inventory held by suppliers10,616 8,855 Taxes payable5,794 5,048 Professional and consulting fees5,294 5,385 Current portion of warranty4,112 5,288 Operating leases3,661 4,303 Customer advances or rebates3,209 4,882 Insurance2,393 2,019 Product returns2,016 2,428 Operations1,764 1,735 Freight1,548 1,640 Other6,390 6,580 $69,871 $84,167 Changes in the Company’s accrued warranty liability were as follows (in thousands): Three Months EndedMarch 29,2025March 30,2024Balance at beginning of period$7,287 $8,029 Accruals for product warranty(295)339 Cost of warranty claims(919)(713)Balance at end of period$6,073 $7,655 

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Table of Contents

6.  Commitments and Contingencies

Lease CommitmentsThe Company leases office space under non-cancelable operating leases. Certain of the Company’s operating leases contain renewal options and rent acceleration clauses. Future minimum payments under the non-cancelable operating leases consisted of the following as of March 29, 2025 (in thousands):PeriodFuture Minimum Lease PaymentsRemainder of 2025$3,377 20261,721 20271,254 2028708 2029 and thereafter340 Total future minimum lease payments7,400 Less imputed interest(361)$7,039 As of March 29, 2025, the operating lease liability consisted of the following (in thousands):Accrued liabilities - current portion of operating leases$3,661 Operating leases3,378 $7,039 The Company leases its headquarters office space in San Jose, California under a lease agreement that expires in December 2025. The future minimum lease payments under the lease are $1.9 million and are included in the table above. In December 2024, the Company entered into a new headquarters office lease agreement for 23,000 square feet in San Jose, California. The lease is expected to commence in August 2025 for a term of 90 months. The future minimum lease payments