Calix Reiterates Second Quarter Guidance in Connection with Upcoming Investor Events and Board of Directors Approves Extending the Existing $100 Million Stock Repurchase Program

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

Second Quarter 2023 Guidance

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:

Institutional investors interested in a meeting should contact their representative at the host firms, or email Calix investor relations at InvestorRelations@calix.com.

About Calix

Calix, Inc. (NYSE: CALX) – Broadband service providers (BSPs) of all sizes leverage the Calix broadband platform and managed services to simplify their businesses, excite their subscribers and grow their value. The Calix platform and managed services enable our customers to grow their subscriber base, revenue, profitability, and subscriber satisfaction—and ultimately transform the communities they serve. Calix is dedicated to driving continuous improvement in partnership with our growing ecosystem to support the transformation of our BSP customers and their communities.

Forward-Looking Statements

Statements made in this announcement that are not statements of historical fact are forward-looking statements. Forward-looking statements are subject to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to, but are not limited to, the second quarter 2023 guidance and the stock repurchase program. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to fluctuations in our financial and operating results, the capital spending decisions of our customers, changes and disruptions in the market and industry, availability of capital in the market, changes in and impacts of regulations and/or government sponsored programs, competition, our ability to achieve market acceptance of our platform, systems and solutions, our ability to grow our customer base, fluctuations in costs associated with our systems and services including higher costs, dependence on third-parties for production and resource management associated with our global supply chain that may cause delays in production, protracted product shortages and unavailability of systems to meet customer orders, cost overruns, disruptions in global trade and relations, social unrest and political uncertainties and other unanticipated factors, as well as the risks and uncertainties described in our annual reports on Form 10-K and our quarterly reports on Form 10-Q, each as filed with the SEC and available at www.sec.gov, particularly in the sections titled “Risk Factors.” Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Calix assumes no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. Accordingly, investors should not place undue reliance on any forward-looking statements.

Category: Financial

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