Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 12

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 the Company.Recent Accounting Pronouncements Not Yet AdoptedThere have been no additional accounting pronouncements or changes in accounting pronouncements during the six months ended June 28, 2025 as compared with the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, that are significant or expected to be significant to the Company.

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Table of Contents

3.  Cash, Cash Equivalents and Marketable Securities

The Company has invested its excess cash primarily in money market funds and highly liquid marketable securities such as U.S. treasury securities, corporate debt instruments, commercial paper and U.S. government securities. The Company considers all investments with maturities of three months or less when purchased to be cash equivalents. Marketable securities represent highly liquid U.S. treasury securities, corporate debt instruments, commercial paper and U.S. government securities with maturities greater than 90 days at date of purchase. Cash equivalents are stated at amounts that approximate fair value based on quoted market prices. Marketable securities are recorded at their fair values.Marketable securities with maturities greater than one year are classified as current because management considers all marketable securities to be available for current operations.The Company’s investments have been classified and accounted for as available-for-sale. Such investments are recorded at fair value and unrealized holding gains and losses are reported as a separate component of accumulated other comprehensive loss in stockholders’ equity until realized. Realized gains and losses on sales of marketable securities, if any, are determined on the specific identification method and are reclassified from accumulated other comprehensive loss to results of operations as other expense, net. Realized gains and losses were not significant for the three and six months ended June 28, 2025 and June 29, 2024.Cash, cash equivalents and marketable securities consisted of the following (in thousands):June 28,2025December 31,2024Cash and cash equivalents:Cash$32,747 $20,664 Money market funds23,457 4,890 Commercial paper18,344 10,058 U.S. government securities1,990 7,550 Total cash and cash equivalents76,538 43,162 Marketable securities:Corporate debt securities123,467 123,701 U.S. government securities57,673 66,582 Commercial paper23,543 22,715 U.S. government agency securities13,890 24,411