Calix (CALX) 10-Q 26 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 02, 2022	Jul. 18, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 02, 2022
Document Transition Report	false
Entity File Number	001-34674
Entity Registrant Name	Calix, Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	68-0438710
Entity Address, Address Line One	2777 Orchard Parkway
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	514-3000
Title of 12(b) Security	Common Stock, par value $0.025 per share
Trading Symbol	CALX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		65,240,516
Entity Central Index Key	0001406666
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 51,516	$ 51,333
Marketable securities	173,369	153,002
Accounts receivable, net	86,128	85,219
Inventory	98,324	88,880
Prepaid expenses and other current assets	51,505	30,811
Total current assets	460,842	409,245
Property and equipment, net	22,029	21,783
Right-of-use operating leases	10,962	12,182
Deferred tax assets	167,928	168,962
Goodwill	116,175	116,175
Other assets	14,876	13,685
Total assets	792,812	742,032
Current liabilities:
Accounts payable	22,951	29,061
Accrued liabilities	74,782	71,597
Deferred revenue	33,511	27,478
Total current liabilities	131,244	128,136
Long-term portion of deferred revenue	24,709	22,016
Operating leases	10,584	12,376
Other long-term liabilities	9,146	11,076
Total liabilities	175,683	173,604
Commitments and contingencies (See Note 6)
Stockholders’ equity:
Preferred stock, $0.025 par value; 5,000 shares authorized; no shares issued and outstanding as of July 2, 2022 and December 31, 2021	0	0
Common stock, $0.025 par value; 100,000 shares authorized; 65,241 shares issued and outstanding as of July 2, 2022, and 64,274 shares issued and outstanding as of December 31, 2021	1,631	1,607
Additional paid-in capital	1,032,833	997,855
Accumulated other comprehensive loss	(2,261)	(320)
Accumulated deficit	(415,074)	(430,714)
Total stockholders’ equity	617,129	568,428
Total liabilities and stockholders’ equity	$ 792,812	$ 742,032

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 02, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.025	$ 0.025
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.025	$ 0.025
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	65,241,000	64,274,000
Common stock, shares outstanding (in shares)	65,241,000	64,274,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Revenue:
Revenue	$ 202,042	$ 168,670	$ 386,990	$ 330,744
Cost of revenue:
Cost of revenue	101,862	79,051	195,018	154,883
Gross profit	100,180	89,619	191,972	175,861
Operating expenses:
Sales and marketing	41,138	29,710	77,229	57,761
Research and development	30,430	25,716	60,247	50,080
General and administrative	18,911	13,664	34,942	26,689
Total operating expenses	90,479	69,090	172,418	134,530
Operating income	9,701	20,529	19,554	41,331
Interest and other income (expense), net:
Interest income (expense), net	240	(119)	275	(244)
Other income (expense), net	(272)	255	(340)	343
Total interest and other income (expense), net	(32)	136	(65)	99
Income before income taxes	9,669	20,665	19,489	41,430
Income taxes	2,148	207	3,849	357
Net income	$ 7,521	$ 20,458	$ 15,640	$ 41,073
Net income per common share:
Basic (in dollars per share)	$ 0.12	$ 0.32	$ 0.24	$ 0.65
Diluted (in dollars per share)	$ 0.11	$ 0.30	$ 0.23	$ 0.61
Weighted-average number of shares used to compute net income per common share
Basic (in shares)	64,836	63,042	64,662	62,795
Diluted (in shares)	68,169	67,634	68,285	67,347
Other comprehensive income (loss), net of tax:
Unrealized loss on available-for-sale marketable securities, net	$ (306)	$ 0	$ (1,467)	$ 0
Foreign currency translation adjustments, net	(403)	44	(474)	9
Total other comprehensive income (loss), net of tax	(709)	44	(1,941)	9
Comprehensive income	6,812	20,502	13,699	41,082
Systems
Revenue:
Revenue	191,195	159,553	365,621	312,855
Cost of revenue:
Cost of revenue	94,448	72,673	180,361	142,336
Services
Revenue:
Revenue	10,847	9,117	21,369	17,889
Cost of revenue:
Cost of revenue	$ 7,414	$ 6,378	$ 14,657	$ 12,547

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning Balance (in shares) at Dec. 31, 2020		62,122
Balance at beginning of period at Dec. 31, 2020	$ 280,325	$ 1,553	$ 948,055	$ (191)	$ (669,092)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	11,394		11,394
Issuance of common stock under equity incentive plans, net of forfeitures (in shares)		1,078
Issuance of common stock under equity incentive plans, net of forfeitures	12,837	$ 27	12,810
Net income	41,073				41,073
Other comprehensive loss	9			9
Ending Balance (in shares) at Jul. 03, 2021		63,200
Balance at end of period at Jul. 03, 2021	345,638	$ 1,580	972,259	(182)	(628,019)
Beginning Balance (in shares) at Apr. 03, 2021		62,851
Balance at beginning of period at Apr. 03, 2021	314,715	$ 1,572	961,846	(226)	(648,477)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	6,223		6,223
Issuance of common stock under equity incentive plans, net of forfeitures (in shares)		349
Issuance of common stock under equity incentive plans, net of forfeitures	4,198	$ 8	4,190
Net income	20,458				20,458
Other comprehensive loss	44			44
Ending Balance (in shares) at Jul. 03, 2021		63,200
Balance at end of period at Jul. 03, 2021	$ 345,638	$ 1,580	972,259	(182)	(628,019)
Beginning Balance (in shares) at Dec. 31, 2021	64,274	64,274
Balance at beginning of period at Dec. 31, 2021	$ 568,428	$ 1,607	997,855	(320)	(430,714)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	20,475		20,475
Issuance of common stock under equity incentive plans, net of forfeitures (in shares)		967
Issuance of common stock under equity incentive plans, net of forfeitures	14,527	$ 24	14,503
Net income	15,640				15,640
Other comprehensive loss	$ (1,941)			(1,941)
Ending Balance (in shares) at Jul. 02, 2022	65,241	65,241
Balance at end of period at Jul. 02, 2022	$ 617,129	$ 1,631	1,032,833	(2,261)	(415,074)
Beginning Balance (in shares) at Apr. 02, 2022		64,612
Balance at beginning of period at Apr. 02, 2022	591,805	$ 1,616	1,014,336	(1,552)	(422,595)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	10,007		10,007
Issuance of common stock under equity incentive plans, net of forfeitures (in shares)		629
Issuance of common stock under equity incentive plans, net of forfeitures	8,505	$ 15	8,490
Net income	7,521				7,521
Other comprehensive loss	$ (709)			(709)
Ending Balance (in shares) at Jul. 02, 2022	65,241	65,241
Balance at end of period at Jul. 02, 2022	$ 617,129	$ 1,631	$ 1,032,833	$ (2,261)	$ (415,074)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Operating activities:
Net income	$ 15,640	$ 41,073
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	20,475	11,394
Depreciation and amortization	7,671	7,737
Deferred income taxes	1,034	0
Changes in operating assets and liabilities:
Accounts receivable, net	(909)	(10,745)
Inventory	(9,445)	(24,868)
Prepaid expenses and other assets	(23,268)	(6,390)
Accounts payable	(6,060)	21,918
Accrued liabilities	4,222	(10,184)
Deferred revenue	8,725	6,164
Other long-term liabilities	(3,721)	(2,742)
Net cash provided by operating activities	14,364	33,357
Investing activities
Purchases of property and equipment	(5,866)	(3,928)
Purchases of marketable securities	(103,286)	(147,277)
Maturities of marketable securities	81,452	83,000
Net cash used in investing activities	(27,700)	(68,205)
Financing activities:
Proceeds from common stock issuances related to employee benefit plans	14,527	12,837
Payments related to financing arrangements	(632)	(212)
Net cash provided by financing activities	13,895	12,625
Effect of exchange rate changes on cash and cash equivalents	(376)	6
Net increase (decrease) in cash and cash equivalents	183	(22,217)
Cash and cash equivalents at beginning of period	51,333	80,807
Cash and cash equivalents at end of period	$ 51,516	$ 58,590

Company and Basis of Presentati

Company and Basis of Presentation	6 Months Ended
	Jul. 02, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company and Basis of Presentation	Company and Basis of Presentation Company Calix, Inc. (together with its subsidiaries, “Calix” or the “Company”) was incorporated in August 1999 and is a Delaware corporation. The Company is the leading global provider of cloud and software platforms, systems and services that focus on the access network, the portion of the network that governs available bandwidth and determines the range and quality of services that can be offered to subscribers. These cloud and software platforms enable broadband service providers (“BSPs”) of all types and sizes to innovate and transform their businesses. The Company’s BSP customers are empowered to utilize real-time data and insights from Calix platforms to simplify their businesses and deliver experiences that excite their subscribers. These insights enable BSPs to grow their businesses through increased subscriber acquisition, loyalty and revenue, thereby increasing the value of their businesses and contributions to their communities. Basis of Presentation The accompanying unaudited condensed consolidated financial statements, including the accounts of Calix, Inc. and its wholly-owned subsidiaries, have been prepared in accordance with the requirements of the U.S. Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. generally accepted accounting principles (“GAAP”) can be condensed or omitted. In the opinion of management, the financial statements include all normal and recurring adjustments that are considered necessary for the fair presentation of the Company’s financial position and operating results. All intercompany balances and transactions have been eliminated in consolidation. The Condensed Consolidated Balance Sheet as of December 31, 2021 has been derived from the audited financial statements at that date. The results of the Company’s operations can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be the same as those for the full year or any future periods. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The Company’s fiscal year begins on January 1 st and ends on December 31 st . Quarterly periods are based on a 4-4-5 calendar with the first quarter ending on the Saturday closest to March 31 st . As a result, the Company had one less day in the six months ended July 2, 2022 than for the six months ended July 3, 2021. The preparation of financial statements in conformity with GAAP for interim financial reporting requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Risks and Uncertainties The Company is subject to risks and uncertainties as a result of the COVID-19 pandemic. The extent of the impact of the COVID-19 pandemic on the Company’s business is highly uncertain and difficult to predict, particularly as variants of the coronavirus continue to spread around the world. Although the availability of vaccines has increased, there are no assurances as to when the pandemic will become endemic. The COVID-19 pandemic has had a prolonged impact on the Company’s supply chain operations due to restrictions, reduced capacity and limited availability from suppliers on whom the Company relies for sourcing components and materials and from third-party partners on whom the Company relies for manufacturing, warehousing and logistics services. The Company’s supply chain continues to face constraints primarily due to closures affecting suppliers and manufacturers in China that have led to challenges in sourcing components and materials. Shortages and delays relating to the Company’s components and materials have also caused, and may continue to cause, difficulties in managing global logistics, and transport and warehousing services for the Company’s products. The prolonged impact of COVID-19 could exacerbate these constraints or cause further supply chain disruptions.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jul. 02, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting PoliciesThe Company’s significant accounting policies are disclosed in its Annual Report on Form 10-K for the year ended December 31, 2021. The Company’s significant accounting policies did not change during the six months ended July 2, 2022. Newly Adopted Accounting Standard The Company did not adopt any new accounting standards during the six months ended July 2, 2022 that were significant to the Company. Recent Accounting Pronouncements Not Yet Adopted There have been no additional accounting pronouncements or changes in accounting pronouncements during the six months ended July 2, 2022 as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, that are significant or potentially significant to the Company.

Cash, Cash Equivalents, and Mar

Cash, Cash Equivalents, and Marketable Securities	6 Months Ended
	Jul. 02, 2022
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Marketable Securities	Cash, Cash Equivalents and Marketable Securities The Company has invested its excess cash primarily in money market funds and highly liquid marketable securities such as commercial paper, corporate debt securities, municipal securities and U.S. government securities. The Company considers all investments with maturities of three months or less when purchased to be cash equivalents. Marketable securities represent commercial paper, U.S. government agency securities, corporate debt securities, municipal securities and U.S. government securities with maturities greater than 90 days at date of purchase. Cash equivalents are stated at amounts that approximate fair value based on quoted market prices. Marketable securities are recorded at their fair values. Marketable securities with maturities greater than one year are classified as current because management considers all marketable securities to be available for current operations. The Company’s investments have been classified and accounted for as available-for-sale. Such investments are recorded at fair value and unrealized holding gains and losses are reported as a separate component of accumulated other comprehensive loss in the stockholders’ equity until realized. Realized gains and losses on sales of marketable securities, if any, are determined on the specific identification method and are reclassified from accumulated other comprehensive loss to results of operations as other expense, net. There were no realized gains and losses for the three and six months ended July 2, 2022 and July 3, 2021, respectively. Cash, cash equivalents and marketable securities consisted of the following (in thousands): July 2, December 31, Cash and cash equivalents: Cash $ 24,113 $ 26,442 Commercial paper 24,616 21,582 Money market funds 2,787 2,320 Corporate debt securities — 989 Total cash and cash equivalents 51,516 51,333 Marketable securities: U.S. government securities 99,808 60,279 Commercial paper 63,040 80,812 U.S. government agency securities 9,028 5,527 Corporate debt securities 799 3,576 Municipal securities 694 2,808 Total marketable securities 173,369 153,002 $ 224,885 $ 204,335 The carrying amounts of the Company’s money market funds approximate their fair values due to their nature, duration and short maturities. The amortized cost and fair value of marketable securities as of July 2, 2022 were as follows (in thousands): Amortized Cost Gross Unrealized Losses Fair Value U.S. government securities $ 101,289 $ (1,481) $ 99,808 Commercial paper 87,725 (69) 87,656 U.S. government agency securities 9,117 (89) 9,028 Corporate debt securities 803 (4) 799 Municipal securities 696 (2) 694 Total marketable securities $ 199,630 $ (1,645) $ 197,985 Unrealized gains and losses were de minimis as of December 31, 2021.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 02, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures its cash equivalents and marketable securities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The Company utilizes the following three-tier value hierarchy, which prioritizes the inputs used in measuring fair value: Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Observable inputs other than quoted prices included in Level 1 for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-driven valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 – Unobservable inputs to the valuation derived from fair valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The fair value hierarchy also requires the Company to maximize the use of observable inputs, when available, and to minimize the use of unobservable inputs when determining inputs and determining fair value. The following tables sets forth the Company’s financial assets measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands): As of July 2, 2022 Level 1 Level 2 Total Money market funds $ 2,787 $ — $ 2,787 U.S. government securities 99,808 — 99,808 Commercial paper — 87,656 87,656 U.S. government agency securities — 9,028 9,028 Corporate debt securities — 799 799 Municipal securities — 694 694 $ 102,595 $ 98,177 $ 200,772 As of December 31, 2021 Level 1 Level 2 Total Money market funds $ 2,320 $ — $ 2,320 U.S. government securities 60,279 — 60,279 Commercial paper — 102,394 102,394 U.S. government agency securities — 5,527 5,527 Corporate debt securities — 4,565 4,565 Municipal securities — 2,808 2,808 $ 62,599 $ 115,294 $ 177,893

Balance Sheet Details

Balance Sheet Details	6 Months Ended
	Jul. 02, 2022
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Details	Balance Sheet Details Accounts receivable, net consisted of the following (in thousands): July 2, December 31, Accounts receivable $ 86,788 $ 85,944 Allowance for doubtful accounts (660) (725) $ 86,128 $ 85,219 Inventory consisted of the following (in thousands): July 2, December 31, Raw materials $ 674 $ 130 Finished goods 97,650 88,750 $ 98,324 $ 88,880 Property and equipment, net consisted of the following (in thousands): July 2, December 31, Test equipment $ 41,290 $ 39,476 Computer equipment 11,079 11,156 Software 9,623 9,013 Leasehold improvements 1,678 1,351 Furniture and fixtures 1,074 1,812 Total 64,744 62,808 Accumulated depreciation and amortization (42,715) (41,025) $ 22,029 $ 21,783 Other long-term assets consisted of the following (in thousands): July 2, December 31, Intangible asset, net $ 5,569 $ 6,885 Other long-term assets 9,307 6,800 $ 14,876 $ 13,685 Intangible Asset Acquisition In March 2018, and as amended in December 2020, the Company entered into an agreement with a vendor to develop a certain software product and related enhancements pursuant to which the Company is obligated to make revenue-share payments under the program, subject to aggregate fixed revenue-share payments of $15.8 million. The payments are based on a revenue-share rate applied to revenue from the developed-product and the corresponding hardware sales through March 2024. If the minimum revenue-share payments are not achieved by the end of that period, a true-up payment will be due. The Company had its first sale in August 2019, and as a result, the Company capitalized an intangible asset with a value of $13.2 million in the third quarter of 2019 and also recognized a liability of $13.2 million (a non-cash investing activity). The intangible asset has an estimated five-year useful life and is being amortized using the greater of the ratio of current gross revenue for the products to the total of current and anticipated future gross revenue for the products or the straight-line method. As of July 2, 2022, the liability, including accrued interest, was $12.9 million, of which $5.7 million is included in “Accrued liabilities” and $7.2 million in “Other long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet. As of December 31, 2021, the liability, including accrued interest, was $13.2 million, of which $4.7 million was included in “Accrued liabilities” and $8.5 million in other “Other long-term liabilities.” Accrued liabilities consisted of the following (in thousands): July 2, December 31, Compensation and related benefits $ 20,314 $ 23,165 Component inventory held by suppliers 9,310 7,611 Current portion of warranty and retrofit 6,777 7,076 Current portion of revenue share payments 5,747 4,731 Professional and consulting fees 5,678 4,819 Freight 5,201 3,997 Customer advances or rebates 5,118 4,742 Operating leases 3,822 3,596 Taxes payable 3,395 4,251 Product returns 2,804 1,836 Operations 1,765 1,400 Other 4,851 4,373 $ 74,782 $ 71,597 Changes in the Company’s accrued warranty and retrofit liability were as follows (in thousands): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Balance at beginning of period $ 9,570 $ 9,650 $ 9,594 $ 9,208 Accruals for product warranty and retrofit (351) 1,003 177 2,205 Cost of warranty and retrofit claims (565) (742) (1,117) (1,502) Balance at end of period $ 8,654 $ 9,911 $ 8,654 $ 9,911

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Commitments The Company leases office space under non-cancelable operating leases. Certain of the Company’s operating leases contain renewal options and rent acceleration clauses. Future minimum payments under the non-cancelable operating leases consisted of the following as of July 2, 2022 (in thousands): Period Future Minimum Lease Payments Remainder of 2022 $ 2,263 2023 4,680 2024 4,510 2025 4,010 2026 562 Total future minimum lease payments 16,025 Less imputed interest (1,619) $ 14,406 As of July 2, 2022, the operating lease liability consisted of the following (in thousands): Accrued liabilities - current portion of operating leases $ 3,822 Operating leases 10,584 $ 14,406 The Company leases its headquarters office space in San Jose, California under a lease agreement that expires in December 2025. The future minimum lease payments under the lease are $8.5 million and are included in the table above. The weighted average discount rate for the Company’s operating leases as of July 2, 2022 was 6.1%. The weighted average remaining lease term as of July 2, 2022 was 3.5 years. For the three and six months ended July 2, 2022, total rent expense of the Company was $1.1 million and $2.2 million, respectively. For the three and six months ended July 3, 2021, total rent expense of the Company was $0.9 million and $2.1 million, respectively. Cash paid within operating cash flows for operating leases was $2.3 million and $2.0 million for the six months ended July 2, 2022 and July 3, 2021, respectively. Purchase Commitments The Company’s suppliers, including contract manufacturers (“CMs”) and original design manufacturers (“ODMs”), place orders for certain component inventory in advance based upon the Company’s build forecasts in order to reduce manufacturing lead times and ensure adequate component supply. The components are used by the CMs and ODMs to build the products included in the build forecasts. The Company generally does not take ownership of the components held by CMs and ODMs. The Company places purchase orders with its CMs and ODMs in order to fulfill its monthly finished product inventory requirements. The Company incurs a liability when the CMs and ODMs convert the component inventory to a finished product and takes ownership of the finished goods inventory. In the event of termination of services with a manufacturing partner, the Company has purchased, and may be required to purchase in the future, certain of the remaining components inventory held by the CM or ODM as well as any outstanding orders pursuant to the contractual provisions with such CM or ODM. As of July 2, 2022 and December 31, 2021, the Company had approximately $324.2 million and $247.3 million, respectively, of outstanding purchase commitments for inventories to be delivered by its suppliers, including CMs and ODMs, within two years. The Company has from time to time, and subject to certain conditions, reimbursed certain suppliers for component inventory purchases when this inventory has been rendered excess or obsolete, for example due to manufacturing and engineering change orders resulting from design changes, manufacturing discontinuation of products by its suppliers, or in cases where the Company has committed inventory levels that greatly exceed projected demand. The estimated excess and obsolete inventory liabilities related to such manufacturing and engineering change orders and other factors, which are included in accrued liabilities in the accompanying balance sheets, were $9.3 million and $7.6 million as of July 2, 2022 and December 31, 2021, respectively. The Company records the related charges in cost of systems revenue in its Condensed Consolidated Statements of Comprehensive Income. Litigation From time to time, the Company is involved in various legal proceedings arising from the normal course of business activities. The Company is not currently a party to any legal proceedings that, if determined adversely to the Company, in management’s opinion, are currently expected to individually or in the aggregate have a material adverse effect on the Company’s business, operating results or financial condition taken as a whole.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jul. 02, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity 2019 Equity Incentive Award Plan Employees and consultants of the Company, its subsidiaries and affiliates, as well as members of the Company’s Board of Directors, are eligible to receive awards under the 2019 Equity Incentive Award Plan (“the 2019 Plan”). The 2019 Plan provides for the grant of stock options, including incentive stock options and nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, other stock or cash-based awards and dividend equivalents to eligible individuals. At the Company’s 2022 annual meeting of stockholders, the stockholders approved an increase in the number of shares of common stock issuable under the 2019 Plan by 1.5 million shares. As of July 2, 2022, there were 7.0 million shares available for issuance under the 2019 Plan. Stock Options During the three months ended July 2, 2022, stock option awards exercisable for up to an aggregate of 0.4 million shares of common stock were granted with a grant date weighted-average exercise price of $33.46 per share. During the six months ended July 2, 2022, stock option awards exercisable for up to an aggregate of 0.8 million shares of common stock were granted with a grant date weighted-average exercise price of $43.15 per share. These stock option awards vest 25% on the first anniversary of the vesting commencement date and on a quarterly basis thereafter over an additional three years. In February 2022, performance-based stock option awards exercisable for up to an aggregate of 0.7 million shares of common stock were granted to certain Company executives with a grant date exercise price of $55.96 per share. The actual number of shares earned is contingent upon achievement of annual corporate financial targets for bookings and non-GAAP net operating income for 2022 (collectively, the “2022 Performance Targets”) during the one-year performance period. These performance-based stock option awards will vest, subject to certification by the Compensation Committee of the Company’s Board of Directors upon the achievement of the 2022 Performance Targets, as to 25% of the shares of common stock earned on the one year anniversary of the date of grant, and as to the remaining 75% of the shares of common stock earned, in substantially equal quarterly installments over the subsequent 36 months, subject to the executive’s continuous service with the Company through the respective vesting dates. If the non-GAAP net operating income target is achieved below 80% of target or the bookings target is achieved below 90% of target, no shares would be awarded, and the performance-based stock option awards would be forfeited in full. If both targets are achieved at the minimum threshold of 80% of target for non-GAAP net operating income and 90% of target for bookings, then the shares are awarded at 50% of the granted shares, with an increasing percentage of shares awarded above the minimum thresholds up to 100% of the granted shares if both targets are achieved at 100% or more of target. The probability of meeting the performance conditions related to these performance-based stock option awards was assessed to be probable as of July 2, 2022, and stock-based compensation expense of $2.9 million was recognized for the three months ended July 2, 2022. For the six months ended July 2, 2022, stock-based compensation expense of $4.5 million was recognized. During the three months ended July 2, 2022, 0.3 million shares of common stock were issued pursuant to the exercise of stock options at a weighted-average exercise price of $7.51 per share. During the six months ended July 2, 2022, 0.5 million shares of common stock were issued pursuant to the exercise of stock options at a weighted-average exercise price of $7.56 per share. As of July 2, 2022, unrecognized stock-based compensation expense of $55.3 million related to stock options, net of estimated forfeitures, is expected to be recognized over a weighted-average period of 2.2 years. Employee Stock Purchase Plans The Company maintains two employee stock purchase plans - the Amended and Restated Employee Stock Purchase Plan (the “ESPP”) and the Amended and Restated 2017 Nonqualified Employee Stock Purchase Plan (the “NQ ESPP”). The ESPP allows eligible employees to purchase shares of the Company’s common stock through payroll deductions of up to 15% of their eligible compensation subject to certain Internal Revenue Code limitations. In addition, participants may purchase up to 2,000 shares of common stock during each offering period. The offering periods under the ESPP are two six-month offering periods from August 15 th through February 14 th and February 15 th through August 14 th of each year. The price of common stock purchased under the ESPP is 85% of the lower of the fair market value of the common stock on the commencement date and the end date of each six-month offering period. At the Company’s 2022 annual meeting of stockholders, the stockholders approved an increase in the number of shares of common stock issuable under the ESPP by 1.3 million shares, which will go into effect for the six-month purchase period commencing August 15, 2022 and ending on February 14, 2023. The total shares authorized for issuance under the ESPP increased from 11.1 million shares to 12.4 million shares. As of July 2, 2022, there were 3.5 million shares available for issuance under the ESPP. During the six months ended July 2, 2022, 0.1 million shares were purchased under the ESPP. As of July 2, 2022, unrecognized stock-based compensation expense of $0.3 million related to the ESPP is expected to be recognized over a remaining service period of 0.1 years. The NQ ESPP allows eligible employees to purchase shares of the Company’s common stock through payroll deductions of up to 25% of their eligible compensation. Eligible employees have the right to (a) purchase the maximum number of whole shares of common stock that can be purchased with the elected payroll deductions during each offering period for which the employee is enrolled at a purchase price equal to the closing price of the Company’s common stock on the last day of such offering period and (b) receive an equal number of shares of the Company’s common stock that are subject to a risk of forfeiture in the event the employee terminates employment within the one year period immediately following the purchase date. Beginning in the second quarter of 2022, the NQ ESPP provides quarterly offering periods from February 8 th through May 7 th , May 8 th through August 7 th , August 8 th through November 7 th and November 8 th through February 7 th of each year. A transition period began on May 15 th and will end on August 7 th . At the Company’s 2022 annual meeting of stockholders, the stockholders approved an increase in the number of shares of common stock issuable under the NQ ESPP by 0.8 million shares. The maximum number of shares of common stock currently authorized for issuance under the NQ ESPP is 6.3 million shares, with a maximum of 0.5 million shares allocated per purchase period. As of July 2, 2022, there were 3.3 million shares available for issuance under the NQ ESPP, including the stockholder-approved 0.8 million share increase. During the three and six months ended July 2, 2022, 0.4 million shares were purchased and issued. As of July 2, 2022, unrecognized stock-based compensation expense of $6.9 million related to the NQ ESPP is expected to be recognized over a remaining weighted-average service period of 0.9 years. Stock-Based Compensation The following table summarizes stock-based compensation expense (in thousands): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Cost of revenue: Products $ 419 $ 186 $ 793 $ 348 Services 231 157 473 307 Sales and marketing 2,848 1,723 5,330 3,170 Research and development 2,259 1,644 6,004 3,227 General and administrative 4,250 2,513 7,875 4,342 $ 10,007 $ 6,223 $ 20,475 $ 11,394

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jul. 02, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company derives revenue from contracts with customers primarily from the following and categorizes its revenue as follows: • Systems include revenue from the sale of access and premises systems, software platform licenses and cloud-based software subscriptions; and • Services include revenue from customer support, software- and cloud-based maintenance, extended warranty subscriptions, professional services, training and managed services. The following is a summary of revenue disaggregated by geographic region based upon the location of the customers (in thousands): Three Months Ended Six Months Ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 United States $ 183,932 $ 138,587 $ 349,563 $ 277,934 Americas ex U.S. 10,808 14,457 19,679 25,860 Europe 2,954 9,844 9,527 13,259 Middle East & Africa 4,099 5,172 7,717 12,260 Asia Pacific 249 610 504 1,431 $ 202,042 $ 168,670 $ 386,990 $ 330,744 Contract Asset The primary contract asset is revenue recognized on professional services contracts where the services are transferred to the customer over time, which has yet to be billed, and is classified within accounts receivable. Amounts are billed in accordance with the agreed-upon contractual terms. The balance as of December 31, 2021 was $1.7 million of which $0.4 million remained in the Company’s Condensed Consolidated Balance Sheet as of July 2, 2022. The closing balance as of July 2, 2022 was $1.7 million of which the Company expects to bill 60% of the balance during the remainder of 2022. The contract asset balance may fluctuate depending on the timing of professional services contracts with the Company's customers. Contract Liability Deferred revenue consisted of the following (in thousands): July 2, December 31, Current: Products and services $ 28,535 $ 22,586 Extended warranty 4,976 4,892 33,511 27,478 Long-term: Products and services 6,453 3,137 Extended warranty 18,256 18,879 24,709 22,016 $ 58,220 $ 49,494 The increase in the deferred revenue balance for the three and six months ended July 2, 2022 is primarily driven by cash payments received or due in advance of satisfying the Company’s performance obligations offset by $12.9 million of revenue recognized that was included in the deferred revenue balance at the beginning of the period. Revenue allocated to remaining performance obligations (“RPOs”) represents contract revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods but excludes variable consideration where the monthly invoicing is based on usage or where actual usage exceeds the minimum commitment. RPOs were $162.8 million as of July 2, 2022, and the Company expects to recognize as revenue 34% of this amount over the next 12 months and the remainder thereafter. Contract Costs The Company capitalizes certain sales commissions related primarily to multi-year subscriptions and extended warranty support for which the expected amortization period is greater than one year. As of July 2, 2022 and December 31, 2021, the unamortized balance of deferred commissions was $7.7 million and $7.4 million, respectively. For the three and six months ended July 2, 2022, the amount of amortization was $0.9 million and $1.6 million, respectively, compared to $0.2 million and $0.3 million for the three and six months ended July 3, 2021, respectively. There was no impairment loss in relation to the costs capitalized for either period. Concentration of Customer Risk No customer accounted for more than 10% of the Company’s total revenue for the three or six months ended July 2, 2022 or July 3, 2021.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents income taxes and the effective tax rates for the periods indicated (in thousands, except percentages): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Income before income taxes $ 9,669 $ 20,665 $ 19,489 $ 41,430 Income taxes $ 2,148 $ 207 $ 3,849 $ 357 Effective tax rate 22.2 % 1.0 % 19.7 % 0.9 % The Company’s income taxes for the three months ended July 2, 2022 and July 3, 2021 were determined using an estimated effective tax rate adjusted for discrete items that occurred during the respective periods. The Company's effective tax rate for the three and six months ended July 2, 2022 differs from the statutory federal corporate tax rate of 21% primarily due to U.S. federal research tax credits and excess tax benefits from stock-based compensation partially offset by state taxes, the inclusion of income from certain foreign operations and the effect of non-deductible stock-based compensation for executive officers. The Company's effective tax rate for the three and six months ended July 3, 2021 was significantly lower than 2022 as the Company maintained a full valuation allowance until the third quarter of 2021. The Company has net deferred tax assets that have arisen primarily as a result of temporary differences, net operating loss carryforwards and tax credits. The Company’s ability to realize a deferred tax asset is based on its ability to generate sufficient future taxable income within the applicable carryforward period and subject to any applicable limitations. Management continues to believe that it is more likely than not we will utilize a significant portion of our deferred tax assets. The Company continues to maintain a valuation allowance of $30.8 million on certain U.S. federal and state deferred tax assets that the Company believes are not more likely than not to be realized in future periods. The Company considers scheduled reversals of deferred tax liabilities, projected future taxable income, ongoing tax planning strategies and other matters, including the period over which its deferred tax assets will be recoverable, in assessing the need for and the amount of the valuation allowance. In the event that actual results differ from these estimates, or if the Company decides to adjust these estimates in the future periods, further adjustments to its valuation allowance may be recorded, which could materially impact the Company’s financial position and net income in the period of the adjustment. The Company’s income taxes may be subject to fluctuation during the year and in future years as new information is obtained, which may affect the assumptions used to estimate the annual effective tax rate including factors as actual results differing from its estimates of pre-tax earnings in the various jurisdictions in which the Company operates, which could impact the recognition of its deferred tax assets, benefits from stock option exercises, further investments in the Company’s foreign operations, the recognition or de-recognition of tax benefits related to uncertain tax positions and changes in or the interpretation of tax laws in jurisdictions where the Company conducts business.

Net Income Per Common Share

Net Income Per Common Share	6 Months Ended
	Jul. 02, 2022
Earnings Per Share [Abstract]
Net Income Per Common Share	Net Income Per Common Share The following table sets forth the computation of basic and diluted net income per common share for the periods indicated (in thousands, except per share data): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Numerator: Net income $ 7,521 $ 20,458 $ 15,640 $ 41,073 Denominator: Weighted-average common shares outstanding used to compute basic net income per share 64,836 63,042 64,662 62,795 Effect of dilutive common stock equivalents 3,333 4,592 3,623 4,552 Weighted-average common shares outstanding used to compute diluted net income per share 68,169 67,634 68,285 67,347 Net income per common share: Basic net income per common share $ 0.12 $ 0.32 $ 0.24 $ 0.65 Diluted net income per common share $ 0.11 $ 0.30 $ 0.23 $ 0.61 Potentially dilutive shares, weighted average 2,617 1,096 2,196 752 Potentially dilutive shares have been excluded from the computation of diluted net income per common share when their effect is antidilutive. These antidilutive shares were from stock options.

Subsequent Event

Subsequent Event	6 Months Ended
	Jul. 02, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventIn July 2022, the Company’s Board of Directors authorized a one-year stock repurchase program for up to $100 million of the Company’s common stock. Under the repurchase program, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the SEC and other applicable legal requirements. The specific timing, price and size of the purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations consistent with the Company’s capital allocation strategy. 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.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 02, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements, including the accounts of Calix, Inc. and its wholly-owned subsidiaries, have been prepared in accordance with the requirements of the U.S. Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. generally accepted accounting principles (“GAAP”) can be condensed or omitted. In the opinion of management, the financial statements include all normal and recurring adjustments that are considered necessary for the fair presentation of the Company’s financial position and operating results. All intercompany balances and transactions have been eliminated in consolidation. The Condensed Consolidated Balance Sheet as of December 31, 2021 has been derived from the audited financial statements at that date. The results of the Company’s operations can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be the same as those for the full year or any future periods. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The Company’s fiscal year begins on January 1 st and ends on December 31 st . Quarterly periods are based on a 4-4-5 calendar with the first quarter ending on the Saturday closest to March 31 st . As a result, the Company had one less day in the six months ended July 2, 2022 than for the six months ended July 3, 2021. The preparation of financial statements in conformity with GAAP for interim financial reporting requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Newly Adopted Accounting Standard and Recent Accounting Pronouncements Not Yet Adopted	Newly Adopted Accounting Standard The Company did not adopt any new accounting standards during the six months ended July 2, 2022 that were significant to the Company. Recent Accounting Pronouncements Not Yet Adopted There have been no additional accounting pronouncements or changes in accounting pronouncements during the six months ended July 2, 2022 as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, that are significant or potentially significant to the Company.
Revenue Recognition	The Company derives revenue from contracts with customers primarily from the following and categorizes its revenue as follows: • Systems include revenue from the sale of access and premises systems, software platform licenses and cloud-based software subscriptions; and • Services include revenue from customer support, software- and cloud-based maintenance, extended warranty subscriptions, professional services, training and managed services.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash (Tables)	6 Months Ended
	Jul. 02, 2022
Cash and Cash Equivalents [Abstract]
Summary of cash and cash equivalents	Cash, cash equivalents and marketable securities consisted of the following (in thousands): July 2, December 31, Cash and cash equivalents: Cash $ 24,113 $ 26,442 Commercial paper 24,616 21,582 Money market funds 2,787 2,320 Corporate debt securities — 989 Total cash and cash equivalents 51,516 51,333 Marketable securities: U.S. government securities 99,808 60,279 Commercial paper 63,040 80,812 U.S. government agency securities 9,028 5,527 Corporate debt securities 799 3,576 Municipal securities 694 2,808 Total marketable securities 173,369 153,002 $ 224,885 $ 204,335
Debt securities, available-for-sale	The amortized cost and fair value of marketable securities as of July 2, 2022 were as follows (in thousands): Amortized Cost Gross Unrealized Losses Fair Value U.S. government securities $ 101,289 $ (1,481) $ 99,808 Commercial paper 87,725 (69) 87,656 U.S. government agency securities 9,117 (89) 9,028 Corporate debt securities 803 (4) 799 Municipal securities 696 (2) 694 Total marketable securities $ 199,630 $ (1,645) $ 197,985

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Tables)	6 Months Ended
	Jul. 02, 2022
Fair Value Disclosures [Abstract]
Fair value, assets measured on recurring basis	The following tables sets forth the Company’s financial assets measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands): As of July 2, 2022 Level 1 Level 2 Total Money market funds $ 2,787 $ — $ 2,787 U.S. government securities 99,808 — 99,808 Commercial paper — 87,656 87,656 U.S. government agency securities — 9,028 9,028 Corporate debt securities — 799 799 Municipal securities — 694 694 $ 102,595 $ 98,177 $ 200,772 As of December 31, 2021 Level 1 Level 2 Total Money market funds $ 2,320 $ — $ 2,320 U.S. government securities 60,279 — 60,279 Commercial paper — 102,394 102,394 U.S. government agency securities — 5,527 5,527 Corporate debt securities — 4,565 4,565 Municipal securities — 2,808 2,808 $ 62,599 $ 115,294 $ 177,893

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	6 Months Ended
	Jul. 02, 2022
Balance Sheet Related Disclosures [Abstract]
Summary of accounts receivable, net	Accounts receivable, net consisted of the following (in thousands): July 2, December 31, Accounts receivable $ 86,788 $ 85,944 Allowance for doubtful accounts (660) (725) $ 86,128 $ 85,219
Summary of inventory	Inventory consisted of the following (in thousands): July 2, December 31, Raw materials $ 674 $ 130 Finished goods 97,650 88,750 $ 98,324 $ 88,880
Summary of property and equipment, net	Property and equipment, net consisted of the following (in thousands): July 2, December 31, Test equipment $ 41,290 $ 39,476 Computer equipment 11,079 11,156 Software 9,623 9,013 Leasehold improvements 1,678 1,351 Furniture and fixtures 1,074 1,812 Total 64,744 62,808 Accumulated depreciation and amortization (42,715) (41,025) $ 22,029 $ 21,783
Schedule of other long-term assets	Other long-term assets consisted of the following (in thousands): July 2, December 31, Intangible asset, net $ 5,569 $ 6,885 Other long-term assets 9,307 6,800 $ 14,876 $ 13,685
Summary of accrued liabilities	Accrued liabilities consisted of the following (in thousands): July 2, December 31, Compensation and related benefits $ 20,314 $ 23,165 Component inventory held by suppliers 9,310 7,611 Current portion of warranty and retrofit 6,777 7,076 Current portion of revenue share payments 5,747 4,731 Professional and consulting fees 5,678 4,819 Freight 5,201 3,997 Customer advances or rebates 5,118 4,742 Operating leases 3,822 3,596 Taxes payable 3,395 4,251 Product returns 2,804 1,836 Operations 1,765 1,400 Other 4,851 4,373 $ 74,782 $ 71,597
Product warranty activities	Changes in the Company’s accrued warranty and retrofit liability were as follows (in thousands): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Balance at beginning of period $ 9,570 $ 9,650 $ 9,594 $ 9,208 Accruals for product warranty and retrofit (351) 1,003 177 2,205 Cost of warranty and retrofit claims (565) (742) (1,117) (1,502) Balance at end of period $ 8,654 $ 9,911 $ 8,654 $ 9,911

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental payments for operating leases	Future minimum payments under the non-cancelable operating leases consisted of the following as of July 2, 2022 (in thousands): Period Future Minimum Lease Payments Remainder of 2022 $ 2,263 2023 4,680 2024 4,510 2025 4,010 2026 562 Total future minimum lease payments 16,025 Less imputed interest (1,619) $ 14,406
Lessee, operating lease liability	As of July 2, 2022, the operating lease liability consisted of the following (in thousands): Accrued liabilities - current portion of operating leases $ 3,822 Operating leases 10,584 $ 14,406

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jul. 02, 2022
Stockholders' Equity Note [Abstract]
Disclosure of share-based compensation arrangements by share-based payment award	The following table summarizes stock-based compensation expense (in thousands): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Cost of revenue: Products $ 419 $ 186 $ 793 $ 348 Services 231 157 473 307 Sales and marketing 2,848 1,723 5,330 3,170 Research and development 2,259 1,644 6,004 3,227 General and administrative 4,250 2,513 7,875 4,342 $ 10,007 $ 6,223 $ 20,475 $ 11,394

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jul. 02, 2022
Revenue from Contract with Customer [Abstract]
Revenue from external customers by geographic areas	The following is a summary of revenue disaggregated by geographic region based upon the location of the customers (in thousands): Three Months Ended Six Months Ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 United States $ 183,932 $ 138,587 $ 349,563 $ 277,934 Americas ex U.S. 10,808 14,457 19,679 25,860 Europe 2,954 9,844 9,527 13,259 Middle East & Africa 4,099 5,172 7,717 12,260 Asia Pacific 249 610 504 1,431 $ 202,042 $ 168,670 $ 386,990 $ 330,744
Deferred revenue, by arrangement, disclosure	Deferred revenue consisted of the following (in thousands): July 2, December 31, Current: Products and services $ 28,535 $ 22,586 Extended warranty 4,976 4,892 33,511 27,478 Long-term: Products and services 6,453 3,137 Extended warranty 18,256 18,879 24,709 22,016 $ 58,220 $ 49,494

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jul. 02, 2022
Income Tax Disclosure [Abstract]
Schedule of income taxes	The following table presents income taxes and the effective tax rates for the periods indicated (in thousands, except percentages): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Income before income taxes $ 9,669 $ 20,665 $ 19,489 $ 41,430 Income taxes $ 2,148 $ 207 $ 3,849 $ 357 Effective tax rate 22.2 % 1.0 % 19.7 % 0.9 %

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	6 Months Ended
	Jul. 02, 2022
Earnings Per Share [Abstract]
Schedule of net income (loss) per share	The following table sets forth the computation of basic and diluted net income per common share for the periods indicated (in thousands, except per share data): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Numerator: Net income $ 7,521 $ 20,458 $ 15,640 $ 41,073 Denominator: Weighted-average common shares outstanding used to compute basic net income per share 64,836 63,042 64,662 62,795 Effect of dilutive common stock equivalents 3,333 4,592 3,623 4,552 Weighted-average common shares outstanding used to compute diluted net income per share 68,169 67,634 68,285 67,347 Net income per common share: Basic net income per common share $ 0.12 $ 0.32 $ 0.24 $ 0.65 Diluted net income per common share $ 0.11 $ 0.30 $ 0.23 $ 0.61 Potentially dilutive shares, weighted average 2,617 1,096 2,196 752

Cash, Cash Equivalents, and M_2

Cash, Cash Equivalents, and Marketable Securities - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	$ 51,516	$ 51,333
Marketable securities	173,369	153,002
Total cash, cash equivalents, and marketable securities	224,885	204,335
U.S. government securities | Short-Term Marketable Securities
Cash and Cash Equivalents [Line Items]
Marketable securities	99,808	60,279
Commercial paper
Cash and Cash Equivalents [Line Items]
Marketable securities	63,040	80,812
U.S. government agency securities
Cash and Cash Equivalents [Line Items]
Marketable securities	9,028	5,527
U.S. government agency securities | Short-Term Marketable Securities
Cash and Cash Equivalents [Line Items]
Marketable securities	9,028
Corporate debt securities
Cash and Cash Equivalents [Line Items]
Marketable securities	799	3,576
Corporate debt securities | Short-Term Marketable Securities
Cash and Cash Equivalents [Line Items]
Marketable securities	799
Municipal securities
Cash and Cash Equivalents [Line Items]
Marketable securities	694	2,808
Municipal securities | Short-Term Marketable Securities
Cash and Cash Equivalents [Line Items]
Marketable securities	694
Cash
Cash and Cash Equivalents [Line Items]
Cash	24,113	26,442
Commercial paper
Cash and Cash Equivalents [Line Items]
Cash equivalents	24,616	21,582
Money market funds
Cash and Cash Equivalents [Line Items]
Cash equivalents	2,787	2,320
Corporate debt securities
Cash and Cash Equivalents [Line Items]
Cash equivalents	$ 0	$ 989

Cash, Cash Equivalents, and M_3

Cash, Cash Equivalents, and Marketable Securities - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 173,369	$ 153,002
Short-Term Marketable Securities And Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	199,630
Gross Unrealized Losses	(1,645)
Fair Value	197,985
U.S. government securities | Short-Term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	101,289
Gross Unrealized Losses	(1,481)
Fair Value	99,808	60,279
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Fair Value	63,040	80,812
Commercial paper | Short-Term Marketable Securities And Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	87,725
Gross Unrealized Losses	(69)
Fair Value	87,656
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	9,028	5,527
U.S. government agency securities | Short-Term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,117
Gross Unrealized Losses	(89)
Fair Value	9,028
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	799	3,576
Corporate debt securities | Short-Term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	803
Gross Unrealized Losses	(4)
Fair Value	799
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	694	$ 2,808
Municipal securities | Short-Term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	696
Gross Unrealized Losses	(2)
Fair Value	$ 694

Fair Value Measures and Discl_2

Fair Value Measures and Disclosures (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 173,369	$ 153,002
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	63,040	80,812
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	9,028	5,527
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	799	3,576
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	694	2,808
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	200,772	177,893
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	102,595	62,599
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	98,177	115,294
Fair Value, Recurring | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	99,808	60,279
Fair Value, Recurring | U.S. government securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	99,808	60,279
Fair Value, Recurring | U.S. government securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Recurring | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	87,656	102,394
Fair Value, Recurring | Commercial paper | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Recurring | Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	87,656	102,394
Fair Value, Recurring | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	9,028	5,527
Fair Value, Recurring | U.S. government agency securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Recurring | U.S. government agency securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	9,028	5,527
Fair Value, Recurring | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	799	4,565
Fair Value, Recurring | Corporate debt securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Recurring | Corporate debt securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	799	4,565
Fair Value, Recurring | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	694	2,808
Fair Value, Recurring | Municipal securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Recurring | Municipal securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	694	2,808
Fair Value, Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	2,787	2,320
Fair Value, Recurring | Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	2,787	2,320
Fair Value, Recurring | Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 0	$ 0

Balance Sheet Details - Account

Balance Sheet Details - Accounts Receivable (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Summary of accounts receivable, net
Accounts receivable	$ 86,788	$ 85,944
Allowance for doubtful accounts	(660)	(725)
Accounts receivable, net	$ 86,128	$ 85,219

Balance Sheet Details - Invento

Balance Sheet Details - Inventory (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Summary of inventory, net
Raw materials	$ 674	$ 130
Finished goods	97,650	88,750
Total inventory	$ 98,324	$ 88,880

Balance Sheet Details - Propert

Balance Sheet Details - Property and Equipment, net (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Summary of property and equipment, net
Property and equipment, gross	$ 64,744	$ 62,808
Accumulated depreciation and amortization	(42,715)	(41,025)
Property and equipment, net	22,029	21,783
Test equipment
Summary of property and equipment, net
Property and equipment, gross	41,290	39,476
Computer equipment
Summary of property and equipment, net
Property and equipment, gross	11,079	11,156
Software
Summary of property and equipment, net
Property and equipment, gross	9,623	9,013
Leasehold improvements
Summary of property and equipment, net
Property and equipment, gross	1,678	1,351
Furniture and fixtures
Summary of property and equipment, net
Property and equipment, gross	$ 1,074	$ 1,812

Balance Sheet Details - Other L

Balance Sheet Details - Other Long-Term Assets (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Intangible asset, net	$ 5,569	$ 6,885
Other long-term assets	9,307	6,800
Other assets, noncurrent	$ 14,876	$ 13,685

Balance Sheet Details - Narrati

Balance Sheet Details - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2019	Jul. 02, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Accrued liabilities		$ 74,782	$ 71,597
Other long-term liabilities		9,146	11,076
Licensed Software
Finite-Lived Intangible Assets [Line Items]
Royalty payment commitment				$ 15,800
Intangible asset	$ 13,200
Other Liabilities	$ 13,200	12,900	13,200
Useful life	5 years
Accrued liabilities		5,700	4,700
Other long-term liabilities		$ 7,200	$ 8,500

Balance Sheet Details - Accrued

Balance Sheet Details - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Summary of accrued liabilities
Compensation and related benefits	$ 20,314	$ 23,165
Component inventory held by suppliers	9,310	7,611
Current portion of warranty and retrofit	6,777	7,076
Current portion of revenue share payments	5,747	4,731
Professional and consulting fees	5,678	4,819
Freight	5,201	3,997
Customer advances or rebates	5,118	4,742
Operating leases	3,822	3,596
Taxes payable	3,395	4,251
Product returns	2,804	1,836
Operations	1,765	1,400
Other	4,851	4,373
Total accrued liabilities	$ 74,782	$ 71,597

Balance Sheet Details - Warrant

Balance Sheet Details - Warranty Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 9,570	$ 9,650	$ 9,594	$ 9,208
Accruals for product warranty and retrofit	(351)	1,003	177	2,205
Cost of warranty and retrofit claims	(565)	(742)	(1,117)	(1,502)
Balance at end of period	$ 8,654	$ 9,911	$ 8,654	$ 9,911

Commitments and Contingencies -

Commitments and Contingencies - Operating Leases (Details) $ in Thousands	Jul. 02, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2022	$ 2,263
2023	4,680
2024	4,510
2025	4,010
2026	562
Total future minimum lease payments	16,025
Less imputed interest	(1,619)
Operating lease liability	$ 14,406

Commitments and Contingencies_2

Commitments and Contingencies - Operating Lease Liability (Details) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Accrued liabilities - current portion of operating leases	$ 3,822	$ 3,596
Operating leases	10,584	$ 12,376
Operating lease liability	$ 14,406
Operating lease, liability, current, statement of financial position	Accrued Liabilities, Current

Commitments and Contingencies_3

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021
Commitments and Contingencies [Line Items]
Total future minimum lease payments	$ 16,025		$ 16,025
Weighted average operating discount rate used to determine the operating lease liability (percent)	6.10%		6.10%
Weighted average remaining lease term for operating lease	3 years 6 months		3 years 6 months
Rent expense	$ 1,100	$ 900	$ 2,200	$ 2,100
Operating lease, payments			2,300	$ 2,000
Purchase commitment period	2 years
Accrued customer rebates/prepayments	$ 9,310		9,310		$ 7,611
Inventories
Commitments and Contingencies [Line Items]
Outstanding purchase commitments	324,200		324,200		$ 247,300
San Jose, California
Commitments and Contingencies [Line Items]
Total future minimum lease payments	$ 8,500		$ 8,500

Stockholders' Equity - 2019 Equ

Stockholders' Equity - 2019 Equity Incentive Award Plan (Details) - 2019 Equity Incentive Award Plan shares in Millions	Jul. 02, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in the number of shares of common stock issuable	1.5
Shares available for future grant (in shares)	7

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Feb. 28, 2022	Jul. 02, 2022	Jul. 02, 2022	Jul. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)		400,000	800,000
Weighted-average grant date fair value (in dollars per share)		$ 33.46	$ 43.15
Stock-based compensation			$ 20,475	$ 11,394
Stock options exercised (in shares)		300,000	500,000
Weighted-average exercise price per share, stock options (in dollars per share)		$ 7.51	$ 7.56
Unrecognized stock-based compensation expense, stock options		$ 55,300	$ 55,300
Recognition period			2 years 2 months 12 days
2021 Performance Targets | Stock Options | Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			25%
2021 Performance Targets | Stock Options | Period Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
2021 Performance Targets | Performance Based Stock Options | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	700,000
Weighted-average grant date fair value (in dollars per share)	$ 55.96
Award performance period	1 year
Net income per share, target achievement performance threshold, percent	80%
Bookings, target achievement performance threshold, percent	90%
Number of shares granted if no-GAAP income below 80% and bookings below 90% of target (in shares)	0
Shares award weighting percent	50%
Target achievement threshold for shares award sliding scale	100%
Stock-based compensation		$ 2,900	$ 4,500
2021 Performance Targets | Performance Based Stock Options | Period One | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	25%
2021 Performance Targets | Performance Based Stock Options | Period Two | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	75%
Award vesting period	36 months

Stockholders' Equity - Employee

Stockholders' Equity - Employee Stock Purchase Plans (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 02, 2022 USD ($) period plan shares	Jul. 02, 2022 USD ($) period plan shares	Aug. 15, 2022 shares	Apr. 02, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employee stock purchase plans | plan	2	2
Recognition period		2 years 2 months 12 days
Unrecognized stock-based compensation expense, stock options | $	$ 55.3	$ 55.3
2017 Nonqualified Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in the number of shares of common stock issuable	800,000	800,000
Number of shares authorized (in shares)	6,300,000	6,300,000
Shares available for future grant (in shares)	3,300,000	3,300,000
Recognition period		10 months 24 days
Maximum contribution percent (up to 25%)	25%	25%
Employee termination period following purchase date to receive shares subject to risk of forfeiture		1 year
Number of additional shares authorized (in shares)	800,000
Maximum number of shares allocated per purchase period	500,000	500,000
Number of shares issued (in shares)	400,000	400,000
Number of shares purchased (in shares)	400,000	400,000
Unrecognized stock-based compensation expense, stock options | $	$ 6.9	$ 6.9
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, maximum employee payroll deduction percentage	15%	15%
ESPP, maximum number of shares per employee (in shares)		2,000
Number of offering periods | period	2	2
Offering period		6 months
ESPP, discounted purchase price percentage		85%
Number of shares authorized (in shares)	12,400,000	12,400,000		11,100,000
Shares available for future grant (in shares)	3,500,000	3,500,000
Shares purchased under ESPP (in shares)	100,000
Unrecognized stock-based compensation expense | $	$ 0.3	$ 0.3
Recognition period		1 month 6 days
Employee Stock Purchase Plan | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in the number of shares of common stock issuable			1,300,000

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 10,007	$ 6,223	$ 20,475	$ 11,394
Products
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	419	186	793	348
Services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	231	157	473	307
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	2,848	1,723	5,330	3,170
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	2,259	1,644	6,004	3,227
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 4,250	$ 2,513	$ 7,875	$ 4,342

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 202,042	$ 168,670	$ 386,990	$ 330,744
United States
Disaggregation of Revenue [Line Items]
Total revenues	183,932	138,587	349,563	277,934
Americas ex U.S.
Disaggregation of Revenue [Line Items]
Total revenues	10,808	14,457	19,679	25,860
Europe
Disaggregation of Revenue [Line Items]
Total revenues	2,954	9,844	9,527	13,259
Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenues	4,099	5,172	7,717	12,260
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenues	$ 249	$ 610	$ 504	$ 1,431

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Asset and Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract with customer, asset	$ 1,700	$ 1,700
Contract with customer, asset, prior period, not recognized	$ 400
Contract with customer, asset, expected to be billed remainder of year, percent	60%
Deferred revenue, current	$ 33,511	27,478
Deferred revenue, current	24,709	22,016
Deferred revenue	58,220	49,494
Contract with customer, liability, revenue recognized	12,900
Products and services
Disaggregation of Revenue [Line Items]
Deferred revenue, current	28,535	22,586
Deferred revenue, current	6,453	3,137
Extended warranty
Disaggregation of Revenue [Line Items]
Deferred revenue, current	4,976	4,892
Deferred revenue, current	$ 18,256	$ 18,879

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Performance Obligations (Details) $ in Millions	Jul. 02, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 162.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	34%
Performance obligations expected to be satisfied, expected timing	1 year

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Contract Costs (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Capitalized contract cost, gross	$ 7,700,000		$ 7,700,000		$ 7,400,000
Capitalized contract cost, amortization	$ 900,000	$ 300,000	1,600,000	$ 200,000
Capitalized contract cost, impairment			$ 0	$ 0

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Concentration Risk (Details)	12 Months Ended
	Dec. 31, 2021
One Customer | Customer Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	12%

Income Taxes - (Details)

Income Taxes - (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 9,669	$ 20,665	$ 19,489	$ 41,430
Income taxes	$ 2,148	$ 207	$ 3,849	$ 357
Effective tax rate	22.20%	1%	19.70%	0.90%
Valuation allowance	$ 30,800		$ 30,800

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Numerator:
Net income	$ 7,521	$ 20,458	$ 15,640	$ 41,073
Denominator:
Weighted-average common shares outstanding used to compute basic net income (loss) per share (in shares)	64,836	63,042	64,662	62,795
Effect of dilutive common stock equivalents (in shares)	3,333	4,592	3,623	4,552
Weighted-average common shares outstanding used to compute diluted net income (loss) per share (in shares)	68,169	67,634	68,285	67,347
Net income per common share:
Basic net income per common share (in dollars per share)	$ 0.12	$ 0.32	$ 0.24	$ 0.65
Diluted net income per common share (in dollars per share)	$ 0.11	$ 0.30	$ 0.23	$ 0.61
Potentially dilutive shares, weighted average (in shares)	2,617	1,096	2,196	752

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	1 Months Ended
	Jul. 26, 2022 USD ($)
Subsequent Event [Line Items]
Stock repurchase program, period authorized	1 year
Stock repurchase program, authorized amount	$ 100,000,000