Calix reports record Q2 revenue of $293.3M, up 21% YoY, but gross margin pressured by memory costs

Filed July 20, 2026 · Period ending July 20, 2026 · ~1 min read

Key Changes

• high

  Q2 2026 revenue reached record $293.3M (up 21% YoY, 5% sequentially); software/service revenue hit record $50.5M (up 16% YoY). GAAP net income was $17.1M, up $17.3M YoY. Free cash flow was $11.9M.

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• high

  Gross margin declined to 54.6% GAAP (54.8% non-GAAP), down 230 bps sequentially and 170 bps YoY, primarily due to higher memory component costs driven by AI data center demand. Customer surcharges partially offset the impact.

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• high

  Q3 2026 guidance: revenue $301-307M (up 4% sequentially at midpoint); non-GAAP gross margin 50.5%-53.5% (down 280 bps sequentially at midpoint), reflecting continued memory cost pressure partially offset by surcharges.

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