Glycolysis is the pathway that breaks down glucose into pyruvate, generating ATP and NADH. It occurs in two phases: the preparatory phase prepares glucose for breakdown, while the payoff phase harvests energy through substrate-level phosphorylation to form ATP and NADH. Glycolysis ultimately yields two molecules of pyruvate, two ATP, and two NADH from each molecule of glucose. Pyruvate can then be further metabolized through aerobic or anaerobic pathways.