Financial Data and Key Metrics Changes - The company reported strong earnings per share at the top of its guidance range despite the uncertainties caused by the COVID-19 pandemic [10] - Positive cash flow from operations was generated in the quarter, indicating a sound and strong balance sheet [8] Business Line Data and Key Metrics Changes - The company saw a significant increase in customer diversification and penetration of its platform offerings, leading to strong guidance for the second quarter [11] - New customers have been virtually 100% platform customers, with a very high percentage adopting Calix Cloud and GigaSpire products [14][15] Market Data and Key Metrics Changes - The pandemic has accelerated demand for cloud services, as service providers require solutions to operate remotely [15] - The company noted that many families faced challenges with broadband infrastructure due to increased demand from multiple users at home [19] Company Strategy and Development Direction - The company aims to seize the opportunity presented by the pandemic to accelerate transformation for its customers [11] - Management emphasized the importance of maintaining a strong balance sheet and operational flexibility during uncertain times [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the future success of the company is more certain than ever, despite the ongoing pandemic [6] - There is an expectation of continued demand growth, although it is too early to determine if the current uptick in demand is sustainable [44] Other Important Information - The company is experiencing supply constraints due to the pandemic, which has affected lead times and shipping costs [54] - The Rural Digital Opportunity Fund (RDOF) is expected to have a minimal impact in 2020, with more significant contributions anticipated in 2021 [57] Q&A Session Summary Question: Adoption rates for Calix Cloud and CPE strategy - Management indicated that nearly all new customers are adopting platform products, with a high percentage utilizing Calix Cloud and GigaSpire [14][15] Question: Incremental business from work-from-home activity - Management acknowledged a pickup in business due to work-from-home trends, with strong guidance for Q2 reflecting this demand [17] Question: Sustainability of CenturyLink as a strong customer - CenturyLink accounted for 15% of revenue, and management believes this level is reasonable for the remainder of the year [22][23] Question: Visibility of backlog and demand - Management noted a strong backlog but refrained from quantifying it, indicating an uptick in demand [24][25] Question: Site access issues affecting revenue recognition - Management reported minimal impact from site access issues, as many customers adapted to the situation [29][30] Question: Margin progression and supply chain constraints - Management confirmed that expedite costs are affecting margins in the near term, but the long-term margin progression story remains unchanged [54][55] Question: Impact of government subsidies and RDOF - RDOF is expected to have a minimal impact in 2020, with more significant contributions anticipated in 2021 [57]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34674 Calix, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 68-0438710 (State or Other Jurisdiction of Incorpora ...

January 28, 2020 Fellow Calix stockholders: Our mission is to connect everyone and everything. Calix platforms empower our customers to build new business models, rapidly deploy new services and make the promise of the smart, connected home and business a reality. The fourth quarter brought a fitting close to 2019, a pivotal year in our transformation. Beginning with significant headwinds from certain of our medium and large customers and a tariff accelerated redesign of our supply chain, 2019 saw us return ...

Financial Data and Key Metrics Changes - The company reported a 4% year-over-year increase in revenue for Q4 2019, achieving results at the high end of guidance [8][7] - Calix Cloud revenue more than tripled year-over-year and quadrupled for the full year [9] - The company forecasts double-digit year-over-year revenue growth for Q1 2020 [12] Business Line Data and Key Metrics Changes - The company added 20 new customers in Q4, totaling over 100 new customers for the second consecutive year [9] - The transformation to an all-platform company providing cloud, software, systems, and services to communication service providers (CSPs) continued with solid bookings [8] Market Data and Key Metrics Changes - The international business performed well, with CityFibre contributing to the ramp-up, although it was not solely attributable to one customer [32] Company Strategy and Development Direction - The company aims to continue diversifying its customer base, with expected growth in small customers and moderated growth in medium and large customers [15][16] - The focus is on transitioning from hardware to software, which is expected to drive margin improvements [24] Management's Comments on Operating Environment and Future Outlook - Management indicated that 2019 was a year of significant transformation and positioned the company to capitalize on the secular disruption in the communications service provider marketplace [12] - The company plans to invest in sales and marketing in line with revenue growth while keeping R&D and G&A expenses flat [22][34] Other Important Information - The company will host its 2020 Investor Day on March 4, 2020, to provide further updates [38] Q&A Session Summary Question: Trends in customer size and future growth - Management expects to continue diversifying the customer base, with more growth in small customers and less in medium and large [15][16] Question: Long-term EPS target and growth drivers - The long-term EPS guidance has been removed, with updates expected during the Analyst Meeting on March 4 [18] Question: Sales and marketing leverage - Management plans to invest in sales and marketing at a rate aligned with revenue growth, while keeping R&D and G&A expenses stable [22] Question: Impact of gross margin from hardware sales - The shift from hardware to software is expected to be the primary driver of margin improvements, rather than price declines [24] Question: Competitive dynamics in the market - No significant changes in competitive dynamics have been observed in the last 90 days [26] Question: Growth dynamics among smaller customers - Continuous programmatic growth is expected, with potential for double-digit growth in the small customer segment [28][30] Question: Expectations for gross margins throughout the year - Management anticipates gross margins will expand over time, but cautioned against expecting consistent quarter-to-quarter growth due to potential noise [36]

Financial Data and Key Metrics Changes - The company achieved flat year-over-year revenue in Q3 2019, marking a significant turn in the business, with revenue and earnings above market expectations [6][8] - The company generated cash and entered Q4 with a solid backlog of business, forecasting a return to growth [6][8] Business Line Data and Key Metrics Changes - The services business declined by 13% year-on-year, but the company expects modest revenue growth moving forward as the heavy lifting of low-margin deployment services is behind [28][29] - The mix of services is shifting towards higher differentiable value offerings, which are expected to lead to gross margin expansion [29][32] Market Data and Key Metrics Changes - The U.S. Tier 3 market has shown significant growth, with expectations for continued growth driven by small customers aggressively deploying fiber and wireless infrastructure [20][25] - The company is seeing a shift in customer demographics, moving from a focus on large customers to a broader base that includes municipalities, cable MSOs, and electric cooperatives [25][26] Company Strategy and Development Direction - The company is transforming into an all-platform provider, focusing on cloud, software, systems, and services for facilities-based CSPs [6][8] - The management is optimistic about the expansion of the addressable market and the growth of new platforms, which are expected to drive future revenue [16][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve 50% or higher gross margins in the long term as revenue grows [15][17] - The company is positioned to benefit from the secular disruption in the communications service provider marketplace, with a strong pipeline of demand [8][22] Other Important Information - The company is hosting its 2019 Connections Event, which is anticipated to be the best yet, indicating a focus on customer engagement and market presence [8] - The management highlighted the importance of aligning services with customer success and the ongoing shift towards software and platforms [29][32] Q&A Session Summary Question: Insights on margins impacted by customer and product mix - Management explained that margins are affected by product mix and a large customer with better-than-average pricing, specifically mentioning Verizon as a significant customer [11][12] Question: Revenue base from new products - Management refrained from providing specific revenue figures but indicated that new platforms are growing rapidly and are material to the business [14] Question: Outlook for Tier 3 U.S. market growth - Management noted that the Tier 3 market is experiencing growth due to aggressive small customers deploying next-generation infrastructure [20][25] Question: Services business decline and future expectations - Management expects services revenue to start increasing modestly as the low-margin deployment services are behind, with a focus on higher-value offerings [28][29] Question: Transition from legacy to new products - Management indicated that the transition involves both acquiring new customers and encouraging existing customers to adopt new platforms, without forcing the change [34][36]

Calix, Inc. (NYSE:CALX) Q2 2019 Earnings Conference Call July 24, 2019 8:30 AM ET Company Participants Thomas Dinges - Director, IR Carl Russo - CEO, President & Director Cory Sindelar - CFO & CAO Conference Call Participants Paul Silverstein - Cowen and Company Christian Schwab - Craig-Hallum Capital Group George Notter - Jefferies Timothy Savageaux - Northland Capital Markets Fahad Najam - Cowen and Company Operator Greetings, and welcome to the Calix Second Quarter 2019 Earnings Conference Call. [Operato ...

Calix, Inc. (NYSE:CALX) Q1 2019 Earnings Conference Call May 1, 2019 8:30 AM ET Company Participants Thomas Dinges - Director of IR Carl Russo - CEO & President Cory Sindelar - CFO & CAO Conference Call Participants George Notter - Jefferies Tyler Burmeister - Craig Hallum Tim Stelqua - Northland Capital Operator Greetings. Welcome to the Calix Q1 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Opera ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34674 Calix, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 68-0438710 (State or Other Jurisdiction of Incorpora ...

Calix, Inc. (NYSE:CALX) Q4 2018 Results Earnings Conference Call February 5, 2019 5:00 PM ET Company Participants Thomas Dinges - Director of IR Carl Russo - CEO, President Cory Sindelar - CFO & CAO Conference Call Participants Paul Silverstein - Cowen & Company George Notter - Jefferies Christian Schwab - Craig-Hallum Operator Greetings, and welcome to the Calix Fourth Quarter 2018 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I'd now like to turn the c ...