Calix (NYSE:CALX) Announces Earnings Results

Calix (NYSE:CALX) issued its quarterly earnings results on Tuesday. The communications equipment provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03, FiscalAI reports. Calix had a return on equity of 2.31% and a net margin of 1.79%.The firm had revenue of $279.98 million during the quarter, compared to the consensus estimate of $277.50 million. During the same period last year, the business posted $0.19 EPS. The business’s revenue was up 27.2% compared to the same quarter last year. Calix updated its Q2 2026 guidance to 0.350-0.450 EPS.

Here are the key takeaways from Calix’s conference call:

• Company reported record revenue of $280 million in Q1 (+3% sequential), added 14 new customers, and raised 2026 revenue guidance to 15%–20% with Q2 guidance of $287M–$293M, citing continued strong customer demand.
• Management completed migration of all customers to the third?generation platform on Google Cloud and says >1,200 customers are loaded on the AI?native Calix One, enabling Agent Workforce and faster AI-driven operational improvements for customers.
• Non?GAAP gross margin was 57.2% (down ~80 bps sequential) and the company expects 2026 gross margins to decline 50–150 bps as higher memory costs and a new memory surcharge (which it estimates creates ~200 bps headwind) affect appliance margins.
• Calix repurchased $171 million of stock in the quarter at an average $51.34/share and the board authorized an additional $100 million, while ending the quarter with $243 million in cash and investments and $7 million of free cash flow.
• Management expects BEAD?related revenue of “tens of millions” in H2 2026 with a ramp in 2027 and a potential peak in 2028 in the “high tens of millions,” but timing and total magnitude remain uncertain.

Calix Stock Performance

Shares of NYSE CALX opened at $49.74 on Wednesday. Calix has a fifty-two week low of $35.70 and a fifty-two week high of $71.22. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 198.94 and a beta of 1.53. The firm’s 50-day simple moving average is $50.97 and its 200 day simple moving average is $54.60.

Analyst Ratings Changes

Several analysts have recently commented on CALX shares. Northland Securities downgraded Calix from an “outperform” rating to a “market perform” rating and set a $52.00 target price for the company. in a research note on Wednesday. Weiss Ratings upgraded Calix from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, February 23rd. Zacks Research downgraded Calix from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price target on shares of Calix in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Calix from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.86.

Calix News Roundup

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Q1 results topped expectations — Calix reported $0.40 EPS (vs. ~$0.37 consensus) and revenue of $279.98M, up 27% year-over-year, signaling strong demand for its communications equipment and software services. Calix (CALX) Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Raised Q2 2026 guidance — management set EPS guidance of $0.35–0.45 (above consensus of ~$0.33) and revenue guidance roughly $287M–$293M (above consensus), underscoring confidence in near-term growth and supporting a higher valuation multiple. Calix Releases First Quarter 2026 Financial Results; To Host Investor Day 2026 at the NYSE
• Positive Sentiment: Board increases buyback authorization by $100M — the company added $100M to its repurchase program (bringing additional firepower and representing ~3% of shares), a direct capital-return move that often supports share prices. Calix Increases Stock Repurchase Authorization by An Additional $100 Million
• Neutral Sentiment: Investor Day announced — Calix will host an Investor Day at the NYSE to outline its long-term growth strategy (could provide more clarity and drive sentiment depending on management’s execution details). Calix Releases First Quarter 2026 Financial Results; To Host Investor Day 2026 at the NYSE
• Neutral Sentiment: Earnings call transcript available — the call provides color on product demand, margin outlook and timing of buybacks; useful for investors wanting detail but not a direct market mover by itself. Calix, Inc. (CALX) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Large executive compensation grants — disclosures show over ~2.1M long-term incentive rights plus additional performance and short-term rights, which investors may view as potential dilution and an offset to buyback benefits. Calix Grants Over 2.1 Million Long-Term Incentive Rights to Executive Management

Hedge Funds Weigh In On Calix

Several large investors have recently added to or reduced their stakes in CALX. Raymond James Financial Inc. bought a new position in Calix in the 2nd quarter valued at about $30,000. Strive Financial Group LLC bought a new position in shares of Calix during the 4th quarter worth approximately $40,000. NewEdge Advisors LLC bought a new position in shares of Calix during the 3rd quarter worth approximately $64,000. Smartleaf Asset Management LLC lifted its position in shares of Calix by 27.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,245 shares of the communications equipment provider’s stock worth $64,000 after buying an additional 265 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Calix during the 4th quarter worth approximately $67,000. Institutional investors own 98.14% of the company’s stock.

Calix declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 28th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Calix Company Profile

Calix, Inc is a provider of cloud and software platforms, systems, and services that enable broadband service providers to transform their networks and subscriber experiences. The company’s flagship Calix Cloud platform delivers real-time analytics, automation and intelligence designed to simplify network operations, improve service agility and drive revenue growth. Calix also offers a comprehensive suite of premises and access systems, including broadband access nodes, fiber-to-the-home optics and residential gateways under the GigaSpire brand.

Through its software-defined network architecture, Calix helps service providers virtualize key network functions and introduce new services with minimal capital expenditure.