Company: CALX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001406666-25-000045
Chunk: 22

Company: CALIX, INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 an aggregate purchase price of $77.0 million at an average price per share of $34.61. As of September 27, 2025, the remaining authorized balance under this program was $125.9 million.

8. Revenue from Contracts with Customers

Contract AssetContract assets include amounts recognized as revenue prior to the Company’s contractual right to bill the customer. Amounts are billed in accordance with the agreed-upon contractual terms. Contract assets were $4.5 million as of September 27, 2025 as compared to $2.8 million as of December 31, 2024, and are included in prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. The Company expects to bill 23% of the September 27, 2025 balance during 2025.Contract LiabilityDeferred revenue was $43.9 million, $45.9 million and $47.6 million as of September 27, 2025, June 28, 2025 and December 31, 2024, respectively. The decrease in the deferred revenue balance for the three and nine months ended September 27, 2025 was driven by $10.9 million and $20.2 million of revenue recognized that was included in the deferred revenue balance at the beginning of each respective period, partially offset by cash payments received or due in advance of satisfying the Company’s performance obligations.Remaining performance obligations (“RPOs”) represent contractual commitments that have not yet been fulfilled, which include deferred revenue and amounts that will be invoiced and recognized as revenue in future periods but exclude variable consideration where the monthly invoicing is based on usage or where actual usage exceeds the minimum commitment. RPOs were $354.6 million as of September 27, 2025, and the Company expects to recognize as revenue 40% of this amount over the next 12 months and nearly all of the remainder over the two years thereafter.Contract CostsThe Company capitalizes certain sales commissions related primarily to multi-year subscriptions and extended warranty support for which the expected amortization period is greater than one year. As of September 27, 2025 and December 31, 2024, the unamortized balance of deferred commissions was $17.8 million and $17.9 million, respectively, and were included in prepaid expenses and other current assets, and other long-term assets on the Condensed Consolidated Balance Sheets. For the three and nine