Every material Form 8-K Calix filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
On October 28, 2024, Calix reported third-quarter 2024 results in a press release and stockholder letter filed under Item 2.02. Revenue fell 24% from a year earlier to $200.9 million and the company posted a GAAP net loss of $4.0 million, compared with net income of $17.0 million a year earlier, though revenue rose 1.4% from the prior quarter and non-GAAP EPS of $0.13 exceeded its July 22 guidance of $0.05 to $0.11. Fourth-quarter guidance calls for revenue of $201 million to $207 million and non-GAAP EPS of $0.04 to $0.10, which shareholders will weigh against the year-over-year decline.
Q3 revenue of $200.9 million rose 1.4% from the prior quarter and fell 24% from the year-earlier quarter.
GAAP net loss of $4.0 million, or $0.06 per diluted share, versus GAAP net income of $17.0 million a year earlier; non-GAAP EPS was $0.13.
Q4 2024 guidance: revenue of $201 million to $207 million; non-GAAP EPS of $0.04 to $0.10.
Remaining performance obligations were $295.7 million, up 35% from the year-earlier quarter.
Calix, Inc. increased its board from eight to nine directors and appointed Wade Oosterman as a Class II director, effective August 8, 2024, to fill the new seat. The filing describes his prior roles at Bell Canada and other telecom companies, but it reports no financial results, guidance, or change in executive leadership.
Board approved on August 8, 2024, expanding the board from eight to nine authorized directors
Oosterman's term as a Class II director expires at the 2027 annual meeting of stockholders
As a non-employee director, he receives a $50,000 annual retainer and an initial grant of 7,317 stock options
The company announced the appointment in a press release dated August 12, 2024
Calix reported second quarter 2024 results, with revenue of $198.1 million, down 24% from $261.0 million a year earlier and down 12% from the prior quarter. The company posted a GAAP net loss of $8.0 million, compared with GAAP net income of $9.4 million in the year-ago quarter, and guided third quarter revenue to $198.0 million to $204.0 million.
Q2 2024 revenue was $198.1 million, down 24% year over year and 12% sequentially; Q2 2024 non-GAAP diluted EPS was $0.09, within the $0.03 to $0.09 guidance given April 22, 2024.
GAAP net loss was $8.0 million, or $(0.12) per diluted share; non-GAAP net income was $6.1 million, versus $25.2 million a year earlier.
Non-GAAP gross margin was a record 55.1%, and management expects gross margin to keep rising each quarter.
Third quarter 2024 guidance calls for revenue of $198.0 million to $204.0 million and non-GAAP diluted EPS of $0.05 to $0.11.
Calix reported first quarter 2024 revenue of $226.3 million, down 9% from a year earlier, and non-GAAP net income of $14.4 million, down from $21.5 million a year earlier. It guided second quarter 2024 revenue to $197.0 million to $203.0 million, below the first quarter level, citing expected lower appliance shipments as customers weigh government broadband funding.
Q1 2024 revenue was $226.3 million, down 9% from a year ago and 15% from the prior quarter, within January guidance of $225.0 million to $231.0 million.
Q1 non-GAAP net income was $14.4 million; GAAP net income was $0.1 million. Non-GAAP earnings per diluted share were $0.21, within guidance of $0.17 to $0.23.
Q1 non-GAAP gross margin was a record 54.9%, while non-GAAP operating expenses were $108.4 million.
Q2 2024 guidance calls for revenue of $197.0 million to $203.0 million and non-GAAP earnings per diluted share of $0.03 to $0.09.
Calix reported record fourth-quarter 2023 revenue of $264.7 million, up 8% from a year earlier, and non-GAAP net income of $29.4 million, while GAAP results included a net loss of $4.1 million after $28.7 million in inventory and component charges tied to its legacy product wind-down. The company guided first-quarter 2024 revenue to $225 million to $231 million, below the fourth quarter, citing customers pausing appliance purchases ahead of government broadband funding, so shareholders face a weaker near-term revenue outlook.
Q4 2023 revenue was a record $264.7 million, up 8% year over year; non-GAAP net income per diluted share was $0.43 versus guidance of $0.33 to $0.39
GAAP net loss was $4.1 million, or $(0.06) per diluted share, reflecting $28.7 million in one-time charges
Q1 2024 revenue guidance is $225 million to $231 million; non-GAAP EPS guidance is $0.17 to $0.23
Company repurchased $44.0 million of stock in Q4 2023 and the Board authorized an additional $100 million
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Calix filing is on SEC EDGAR ↗. 8-K briefs of other companies →