Glycolysis is a 10-step process that can be broken down into two phases, the preparatory phase (steps 1-5) and the payoff phase (steps 6-10). In the preparatory phase, glucose is broken down into two molecules of glyceraldehyde-3-phosphate, a process which requires an energy investment of two ATP molecules. In the payoff phase, the two glyceraldehyde-3-phosphate molecules are then converted into two pyruvate molecules, which results in the formation of four molecules of ATP and two molecules of NADH.

In summary, then, the net reaction of glycolysis is as follows:

Glucose + 2 NAD⁺ + 2 ADP + 2 P_i → 2 Pyruvate + 2 NADH + 2 H⁺ + 2 ATP + 2 H₂O

Remember, in addition to NADH and ATP, pyruvate is also a high-energy molecule and can be broken down further to release energy. This occurs through the decarboxylation of pyruvate by pyruvate dehydrogenase complex, the entry of acetyl-CoA into the Krebs cycle, the oxidation of electron carriers and the build-up of a proton gradient in the electron transport chain, and finally the harnessing of that proton gradient by ATP synthase to create ATP. These processes, collectively known as aerobic respiration, produce about 34 more ATP molecules per glucose molecule, in addition to the two ATP formed through glycolysis.