secwatch.observer — SEC 8-K summary
======================================

Issuer:     CALIX, INC (CALX)
CIK:        0001406666
Form:       8-K/A
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001406666-24-000010
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Calix Q4 non-GAAP EPS $0.43 beat; records $3.2M litigation charge, Q1 guide $225-231M
--------------------------------------------------------------------------------

- Record Q4 revenue $264.7M, non-GAAP gross margin 54.1% (record), non-GAAP EPS $0.43 vs guidance $0.33-$0.39.
- GAAP net loss $6.6M ($0.10 loss) due to $28.7M legacy inventory writedown and $3.2M litigation settlement.
- Repurchased $44M stock in Q4; Board authorized additional $100M for share repurchase program.
- Q1 2024 guidance: revenue $225-231M, non-GAAP gross margin 54.5-55.5%, non-GAAP EPS $0.24-$0.30.
- Expect 2024 appliance slowdown, platform/cloud/mgd services growth; strong growth from 2025 on government funds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1406666/000140666624000010/0001406666-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1406666/000140666624000010/calx-20240129.htm
  HTML page:      https://secwatch.observer/filing/0001406666-24-000010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer