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CALX revenue +21% as tariffs lift, but memory costs compress margin 170bp in Q2
Filed July 21, 2026 · Period ending June 27, 2026 · Compared to 10-Q Jul 22, 2025 · ~2 min read
Key Changes
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high
Supreme Court eliminated tariffs in Feb 2026; company saw no significant financial impact as most finished goods were exempt. Tariff headwind that threatened cost of revenue in baseline has been resolved.
MD&A: Tariff Impact verify on EDGAR → -
high
Gross margin compressed 170bp in Q2 2026 (vs 200bp expansion in Q2 2025) driven by memory component cost increases from AI infrastructure buildout reallocating manufacturing capacity. Six-month margin down 30bp, reflecting 550bp software/service margin decline during dual-cloud platform migration.
MD&A: Gross Margin verify on EDGAR → -
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R&D spending up $17.6M (20% YoY) in first half 2026 vs $1.2M (1% YoY) in 2025, driven by headcount and outside services to accelerate AI functionality. Company reversed prior guidance from 'flat in absolute dollars' to 'increase in absolute dollars' for AI development.
MD&A: R&D Investment verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jul 28, 2026 · How we verify