Calix
Unifies broadband access equipment, cloud software, AI agents, and managed services for service providers.
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Profile
Sells the Calix One platform—cloud software, AI agents, access and premises appliances, and SmartLife managed services—to broadband providers. Appliance sales remain the largest revenue stream, while cloud subscriptions, licenses, support, and professional services add recurring revenue; customers and sales are concentrated in North America.
Combines Calix Cloud applications, Agent Workforce AI agents, broadband software, Access Edge network equipment, Experience Edge premises appliances, and SmartLife managed services for communications service providers. These products span fiber access, managed Wi-Fi, marketing, operations, subscriber support, and services for homes, businesses, communities, and multifamily properties.
Earns appliance revenue from access and premises hardware, plus software-and-service revenue from licenses, cloud subscriptions, managed services, support, and professional services. A direct sales and Customer Success model supports deployments for local cooperatives, municipalities, fiber overbuilders, and major carriers. Sales remain concentrated in North America, while hardware supply relies on contract manufacturers, design manufacturers, logistics partners, and some single-source components.
Company facts
Categories
Key statistics
Year to date −30.1% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 21, 2026 | Northland Securities | Target | $65 | $52 | ||
| Jul 21, 2026 | Northland Capital Markets | Upgrade | Market Perform | Outperform | ||
| Apr 23, 2026 | Needham | Reiterate | Buy | $82 | $62 | |
| Jan 30, 2026 | Craig-Hallum | Target | $75 | $60 | ||
| Jan 15, 2026 | JP Morgan | Upgrade | Neutral | Overweight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 20, 2026Q2 FY26 | $0.40 | $0.47 | +16.1% | $290.0M | $293.3M | +1.2% | −2.29% |
| Apr 21, 2026Q1 FY26 | $0.38 | $0.40 | +5.3% | $277.5M | $280.0M | +0.9% | −13.98% |
| Jan 28, 2026Q4 FY25 | $0.38 | $0.39 | +2.6% | $270.1M | $272.4M | +0.8% | −11.90% |
| Oct 29, 2025Q3 FY25 | $0.34 | $0.44 | +29.4% | $251.0M | $265.4M | +5.7% | +9.34% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $220.2M | $241.9M | $265.4M | $272.4M | $280.0M | $293.3M | |
| Gross profit | $122.7M | $136.3M | $152.0M | $157.3M | $159.3M | $160.1M | |
| Operating income | −$6.1M | $391.0K | $17.4M | $9.3M | $12.7M | $21.8M | |
| Net income | −$4.8M | −$199.0K | $15.7M | $7.2M | $11.2M | $17.1M | |
| Diluted EPS | −$0.07 | −$0.00 | $0.24 | $0.10 | $0.17 | $0.26 | |
| Gross margin | 55.7% | 56.3% | 57.3% | 57.7% | 56.9% | 54.6% | |
| Operating margin | -2.8% | 0.2% | 6.6% | 3.4% | 4.5% | 7.4% |
Fiscal years (4-quarter sums)FY21 $679.4M · FY22 $867.8M · FY23 $1.04B · FY24 $831.5M · FY25 $1.00B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 27, 2026Cash & short-term investments $194.3M · Total debt $14.0M · Total assets $954.4M · Shareholders' equity $710.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 62.96M · Float 56.96M · 90.5% free float
Insiders — no current Form 4 position.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 11.78M | 18.70% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 5.59M | 8.87% | 13F | Aug 13, 2026 |
| AllianceBernstein L.P. | 3.25M | 5.16% | 13F | Aug 14, 2026 |
| State Street Corp | 2.92M | 4.63% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 2.59M | 4.11% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- ADTRAN
Fiber access hardware and Mosaic SaaS rival targeting the same US regional ISPs
- Nokia (ADR)
Fiber OLT and cloud platform rival with #1 XGS-PON share and rural ISP programs
- Harmonic
Virtualized broadband platform (cOS) rivaling Calix's AXOS for fiber/DOCSIS ISPs
- Vistance Networks
PON access, HFC, and cloud Wi-Fi vendor targeting cable MSOs and fiber ISPs
- Ciena
XGS-PON micro-OLT entrant targeting BEAD-funded rural fiber ISPs and co-ops
- Ubiquiti
Low-cost UISP/UFiber ISP platform rivals Calix's cloud-managed CPE stack
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Calix | $37.39 | −0.24% | $2.36B | 48.7 | 19.6 | 2.1 | +21.3% |
| ADTRAN | $7.81 | +1.23% | $625.3M | — | 21.7 | 0.5 | +6.1% |
| Nokia (ADR) | $10.18 | −0.29% | $55.14B | 71.4 | 24.3 | 2.5 | +2.3% |
| Harmonic | $12.02 | +0.07% | $1.30B | — | 17.7 | 2.6 | −3.3% |
| Vistance Networks | $6.15 | +1.49% | $1.37B | 6.6 | 8.7 | 0.5 | −77.0% |
| Ciena | $379.00 | +0.24% | $53.57B | 126.1 | 48.3 | 9.6 | +39.5% |
| Ubiquiti | $599.00 | −0.13% | $36.27B | 37.8 | 33.9 | 11.1 | +23.5% |
| Median | 54.6 | 23.0 | 2.6 | +4.2% |