Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when CALX files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsCalix 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.
Item 2.02 verify on EDGAR → -
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.
Item 2.02 verify on EDGAR → -
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.
Item 2.02 verify on EDGAR → -
medium
Repurchased 1.6M shares for $69.4M in Q2 2026, with $94.1M remaining under the share repurchase authorization at quarter-end.
Item 2.02 verify on EDGAR →
Summary
Calix reported strong Q2 2026 top-line growth with record revenue of $293.3 million (up 21% year-over-year) and record software/service revenue of $50.5 million (up 16% year-over-year), driven by customer adoption of its Calix One AI-native platform. The company added 14 new service provider customers and tripled Calix One contracts quarter-over-quarter.
GAAP net income improved to $17.1 million, up $17.3 million year-over-year, while the company generated $11.9 million in free cash flow and returned $69.4 million to shareholders through share repurchases. The key concern is margin pressure from memory component costs driven by AI data center demand.
Gross margin declined 230 basis points sequentially to 54.6% GAAP (54.8% non-GAAP), and management guided Q3 gross margin down another 280 basis points at the midpoint to 50.5%-53.5%. Calix implemented customer surcharges to recover costs without adding profit, prioritizing market share and customer relationships over near-term margin expansion. Despite the margin headwind, the company expects full-year 2026 revenue at the higher end of its 15%-20% growth target, suggesting confidence in demand momentum even as it navigates input cost inflation.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Calix disclosed Q2 2026 financial results via stockholder letter on July 20, 2026.
Added in current filing · verify on EDGAR →
On July 20, 2026, Calix, Inc. (the “Company”) issued a press release announcing it has publicly disseminated a stockholder letter with its financial results for the second quarter ended June 27, 2026.
Calix announced its financial results for the second quarter ended June 27, 2026, through a stockholder letter. The 8-K itself does not contain the actual financial figures; those are in the attached exhibits (99.1 press release and 99.2 stockholder letter).
Added in current filing · verify on EDGAR →
The stockholder letter, a copy of which is attached hereto as Exhibit 99.2 and incorporated herein by reference, includes reference to the non-GAAP measures of non-GAAP gross margin, non-GAAP operating expenses, non-GAAP sales and marketing investments, non-GAAP research and development investments, non-GAAP general and administrative investments, non-GAAP effective income tax rate, non-GAAP net income or profitability, non-GAAP net income per diluted common share and non-GAAP free cash flow.
The stockholder letter includes multiple non-GAAP financial measures: gross margin, operating expenses, sales and marketing investments, R&D investments, G&A investments, effective income tax rate, net income, net income per diluted share, and free cash flow. These measures exclude non-cash stock-based compensation, intangible asset amortization, and income tax impacts. A reconciliation to GAAP results is provided in Exhibit 99.2.
Event · Exhibit 99.1
Calix announced Q2 2026 financial results via stockholder letter posted to investor relations website.
Added in current filing · view on EDGAR →
Calix, Inc. (NYSE: CALX) today announced unaudited financial results for its second quarter of 2026, which have been posted as a letter to stockholders to the investor relations section of its website.
Calix disclosed Q2 2026 financial results through a stockholder letter on its investor relations website. The results are unaudited. A conference call with CEO Michael Weening and CFO Cory Sindelar is scheduled for July 21, 2026 at 5:30 a.m. Pacific Time to discuss the results.
Event · Exhibit 99.2
Added in current filing · view on EDGAR →
We delivered record revenue of $293.3 million in the second quarter of 2026 representing 5% sequential growth and 21% year-over-year growth. Software and service revenue grew to a record $50.5 million, up 7% sequentially and 16% year-over-year
Calix reported record Q2 2026 revenue of $293.3 million, up 21% year-over-year and 5% sequentially. Software and service revenue reached a record $50.5 million, growing 16% year-over-year and 7% sequentially, driven by customer adoption of the Calix One AI-native platform. The company added 14 new service provider customers and tripled Calix One contracts quarter-over-quarter.
Added in current filing · view on EDGAR → · paraphrased
GAAP net income was $17.1 million for the second quarter of 2026, a sequential increase of $5.9 million and an improvement of $17.3 million from the year ago period... We generated free cash flow of $11.9 million while improving operating efficiency.
Calix reported GAAP net income of $17.1 million for Q2 2026, up $5.9 million sequentially and $17.3 million year-over-year. Non-GAAP net income was $30.6 million, or $0.47 per diluted share. The company generated $11.9 million in free cash flow while reducing GAAP operating expenses by $8.3 million sequentially to $138.3 million.
Added in current filing · view on EDGAR →
Our revenue guidance for the third quarter of 2026 is for revenue to be between $301 million and $307 million, up 4% (at the midpoint) from the prior quarter ... Non-GAAP gross margin guidance of 50.5% to 53.5% represents a sequential decrease of 280 basis points at the midpoint from the prior quarter.
Calix guided Q3 2026 revenue to $301-307 million (up 4% sequentially at midpoint) and non-GAAP gross margin to 50.5%-53.5% (down 280 basis points sequentially at midpoint). The gross margin decline reflects continued memory cost increases partially offset by surcharges, with the company expecting full-year 2026 revenue at the higher end of its 15%-20% growth target.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 28, 2026 · How we verify