Corporate News, Guidance, Management Comments

Calix, Inc. (CALX) Reiterates Second Quarter Guidance

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Price: $39.73 --0%

EPS Growth %: +24.2%

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Calix, Inc. (NYSE: CALX) today announced it affirmed the second quarter 2023 guidance that was provided on April 19, 2023.

Second Quarter 2023 Guidance

	Guidance Non-GAAP	Guidance GAAP
Revenue	$255m – $261m	$255m – $261m
Gross margin	51.0% – 53.0% 1	50.4% – 52.4%
Operating expenses	$105.0m – $108.0m 1	$123.0m – $126.0m
Net income per diluted common share 2	$0.28 – $0.34 1	$0.07 – $0.13

1		Non-GAAP excludes stock-based compensation and intangible asset amortization as well as the income tax impact of these items. See the GAAP to non-GAAP reconciliation at the end of the release.
2		Based on 70.1 million weighted-average diluted common shares outstanding.

Removing the Current End Date of the Stock Repurchase Program

On May 11, 2023, the Board of Directors approved an amendment of the $100 million stock repurchase program, previously approved on July 15, 2022, to eliminate the end date of July 15, 2023. The program will now continue until the repurchase program is suspended or discontinued. The repurchase program does not obligate the Company to acquire a particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. As of today, the Company has repurchased $10 million of Calix’s common stock at an average price of $44.53 per share.

Upcoming Investor Events

Calix management will be available at the following upcoming investor events:

Event:	Needham Technology & Media Conference (virtual)
Date:	May 18, 2023
Presentation time:	9:30 a.m. Eastern Time / 6:30 a.m. Pacific Time
Participants:	President & CEO, Michael Weening; CFO, Cory Sindelar


Event:	J.P. Morgan Annual Global Technology, Media and Communications Conference
Date:	May 24, 2023
Location:	The Westin Copley Place, Boston
Presentation time:	12:40 p.m. Eastern Time
Participants:	President & CEO, Michael Weening; CFO, Cory Sindelar

Event:	TD Cowen Technology, Media & Telecom Conference
Date:	May 31, 2023
Location:	Lotte New York Palace, New York City
Meeting Availability:	8:00 a.m. – 3:25 p.m. Eastern Time
Participants:	President and CEO, Michael Weening; CFO, Cory Sindelar


Event:	Craig-Hallum Annual Institutional Investor Conference
Date:	May 31, 2023
Location:	The Depot Renaissance Minneapolis
Meeting Availability:	8:00 a.m. – 3:25 p.m. Central Time
Participants:	Chairman, Carl Russo

Event:	Jefferies Software Conference
Date:	June 1, 2023
Location:	The Resort at Pelican Hill, Newport Coast, CA
Presentation time:	3:30 p.m. Pacific Time
Participants:	President and CEO, Michael Weening; CFO, Cory Sindelar

Event:	Bank of America Technology Conference
Date:	June 6, 2023
Location:	The Westin St. Francis Hotel, San Francisco
Meeting Availability:	8:00 a.m. – 4:00 p.m. Pacific Time
Participants:	Chairman, Carl Russo; CFO, Cory Sindelar

Event:	Rosenblatt Securities Age of AI Technology Summit (virtual)
Date:	June 7, 2023
Presentation Time:	10:00 a.m. Eastern Time / 7:00 a.m. Pacific Time
Participants:	Chairman, Carl Russo; CFO, Cory Sindelar

Institutional investors interested in a meeting should contact their representative at the host firms, or email Calix investor relations at [email protected].

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