CALX
CalixDDocument history
Earnings documents stored for CALX.
Investor releaseQuarter not tagged2026-05-21Calix (CALX) Down 10% Since Last Earnings Report: Can It Rebound?
Zacks
Calix (CALX) Down 10% Since Last Earnings Report: Can It Rebound?
It has been about a month since the last earnings report for Calix (CALX). Shares have lost about 10% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Calix due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Calix, Inc before we dive into how investors and analysts have reacted as of late. Calix Beats Q1 Earnings Estimates on Solid Y/Y Top-Line GrowthCalix, Inc. reported strong first-quarter 2026 results, with both top and bottom lines surpassing the Zacks Consensus Estimate.The company posted a solid 27% year-over-year increase in revenues, driven by strong demand from broadband providers and increased adoption of its platform by existing and new customers, along with support from AI services and pricing changes.Net IncomeNet income on a GAAP basis was $11.2 million or 16 cents per share against a net loss of $4.8 million or a loss of 7 cents per share in the year-ago quarter. Top-line growth boosted the bottom line during the quarter.Non-GAAP net income in the reported quarter was $27.2 million or 40 cents per share compared with $13.1 million or 19 cents per share in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate of 38 cents.RevenuesNet sales increased to $280 million from $220.2 million in the year-ago quarter, primarily driven by solid growth in both Appliance and Software and service segments. The top line beat the consensus estimate of $277.2 million.In the first quarter of 2026, revenues from the Appliance segment were $232.8 million compared with $179.7 million in the year-earlier quarter. Sales increased as broadband providers bought more equipment to expand and upgrade their networks. Revenues from the Software and service segment were $47.1 million, up 16.4% year over year.Other DetailsNon-GAAP gross profit was $160.2 million compared with $123.8 million in the year-ago quarter, with respective margins of 57.2% and 56.2%. Non-GAAP operating expenses totaled $126.9 million compared with $109.8 million in the year-ago period. Non-GAAP operating income was $33.3 million compared with $14 million in the year-ago quarter. At the end of the first quarter of 2026, total remaining performance obligations...
Investor releaseQuarter not tagged2026-04-23Calix (CALX) Valuation Update As Q1 2026 Results And Expanded Buyback Draw Investor Attention
Simply Wall St.
Calix (CALX) Valuation Update As Q1 2026 Results And Expanded Buyback Draw Investor Attention
Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Calix (CALX) is back on investors’ radar after reporting first quarter 2026 results alongside an expanded share repurchase program, combining fresh financial data with a clearer view of how management is thinking about capital allocation. The company posted first quarter revenue of US$279.98 million and net income of US$11.21 million, then followed up with a stockholder letter, a conference call with senior management, and plans to discuss its long term Calix One platform strategy at an Investor Day hosted at the New York Stock Exchange. Alongside the earnings update, the board authorized an extra US$100 million for share repurchases, on top of US$63.4 million that remained available at the end of the quarter. This authorization gives Calix flexibility to buy back stock through open market and privately negotiated transactions under existing SEC rules. See our latest analysis for Calix. The earnings release and buyback update arrived after a sharp pullback, with a 1 day share price return of negative 13.98% contributing to a 30 day share price return of negative 18.82%. The 1 year total shareholder return of 15.52% shows that longer term holders have still come out ahead despite fading recent momentum. If this kind of volatility has you thinking about diversification, it could be worth scanning for other power grid technology and infrastructure names through the 33 power grid technology and infrastructure stocks With Calix shares down over the past quarter yet trading at a discount to analyst targets and some intrinsic value estimates, you have to ask: is this weakness a buying opportunity, or is the market already pricing in future growth? Calix's most followed valuation narrative places fair value at about $71.67 per share versus the last close of $42.65. This frames a sizable gap that depends on how its platform story develops over the next few years. Read the complete narrative. Want to see how this platform shift ties into long term revenue, earnings and valuation? The core of this narrative is ambitious growth, rising margins and a premium future earnings multiple that has to hold up under scrutiny. Result: Fair Value of $71.67 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this...
Investor releaseQuarter not tagged2026-04-22Calix, Inc. Q1 2026 Earnings Call Summary
Moby
Calix, Inc. Q1 2026 Earnings Call Summary
Achieved record revenue driven by robust customer demand and the successful migration of all existing customers to the third-generation Calix One platform on Google Cloud. Transitioned to an AI-native architecture designed to help service providers transform operations and add capacity through agentic workforce capabilities. Performance attribution for the quarter's growth is primarily linked to organic demand for platform products rather than pricing actions or one-time benefits. Strategic positioning is shifting toward a 'blue ocean' of incremental total addressable market (TAM) as the company moves past legacy hardware cycles into experience-based software solutions. Management attributes the sequential gross margin decline to the temporary operational burden of maintaining dual cloud environments during the final phase of customer migration. The company continues to win market share by focusing on subscriber experience and operational automation rather than competing solely on hardware specifications. Raised full-year 2026 revenue growth guidance to 15%-20%, up from the previous 10%-15% range, reflecting stronger demand and partial recovery of memory costs. Anticipate RPO reacceleration in the second half of 2026 as momentum builds for the Calix One platform and customers adopt incremental service offerings. Expect to return to the target financial model for operating expenses by the end of 2026, improving overall operating leverage and profitability. Guidance for the second half of 2026 includes tens of millions of dollars in projected revenue from the BEAD program as state-level funding begins to flow. Gross margin for the full year is expected to decline 50 to 150 basis points, primarily due to the mathematical headwind of passing through memory surcharges at zero profit. Initiated a memory surcharge starting in May to partially recover higher component costs; management noted this adds revenue without gross profit, creating a margin percentage headwind. Authorized an additional $100 million for share repurchases following the $171 million invested in the first quarter, signaling confidence in long-term value. The dual cloud environment costs, which impacted Q1 margins by approximately $3 million to $4 million, have been eliminated as of the end of the quarter. Management addressed new FCC regulations on foreign-made routers, stating existing shipment...
Investor releaseQuarter not tagged2026-04-22Calix Beats Q1 Earnings Estimates on Solid Y/Y Top-Line Growth
Zacks
Calix Beats Q1 Earnings Estimates on Solid Y/Y Top-Line Growth
Calix, Inc. CALX reported strong first-quarter 2026 results, with both top and bottom lines surpassing the Zacks Consensus Estimate. The company posted a solid 27% year-over-year increase in revenues, driven by strong demand from broadband providers and increased adoption of its platform by existing and new customers, along with support from AI services and pricing changes. Net income on a GAAP basis was $11.2 million or 16 cents per share against a net loss of $4.8 million or a loss of 7 cents per share in the year-ago quarter. Top-line growth boosted the bottom line during the quarter. Non-GAAP net income in the reported quarter was $27.2 million or 40 cents per share compared with $13.1 million or 19 cents per share in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate of 38 cents. Calix, Inc price-consensus-eps-surprise-chart | Calix, Inc Quote Net sales increased to $280 million from $220.2 million in the year-ago quarter, primarily driven by solid growth in both Appliance and Software and service segments. The top line beat the consensus estimate of $277.2 million. In the first quarter of 2026, revenues from the Appliance segment were $232.8 million compared with $179.7 million in the year-earlier quarter. Sales increased as broadband providers bought more equipment to expand and upgrade their networks. Revenues from the Software and service segment were $47.1 million, up 16.4% year over year. Non-GAAP gross profit was $160.2 million compared with $123.8 million in the year-ago quarter, with respective margins of 57.2% and 56.2%. Non-GAAP operating expenses totaled $126.9 million compared with $109.8 million in the year-ago period. Non-GAAP operating income was $33.3 million compared with $14 million in the year-ago quarter. At the end of the first quarter of 2026, total remaining performance obligations were $376.3 million. In the first quarter of 2026, Calix generated $14.6 million of net cash from operating activities compared with $17.2 million in the year-ago quarter. As of March 28, 2026, the company had $54.6 million in cash and cash equivalents and $11.9 million in operating leases. During the quarter, the company repurchased 3.3 million shares for $170.9 million. For the second quarter of 2026, revenues are expected to be in the range of $287-$293 million. Management estimates non-GAAP earnings per share in the band...
Investor releaseQuarter not tagged2026-04-22Calix: Q1 Earnings Snapshot
Associated Press
Calix: Q1 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Calix Inc. (CALX) on Tuesday reported first-quarter earnings of $11.2 million. The San Jose, California-based company said it had net income of 16 cents per share. Earnings, adjusted for stock option expense, came to 40 cents per share. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. The cloud, software platforms, systems and services provider for communications service providers posted revenue of $280 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $277.2 million. For the current quarter ending in June, Calix expects its per-share earnings to range from 35 cents to 45 cents. The company said it expects revenue in the range of $287 million to $293 million for the fiscal second quarter. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CALX at https://www.zacks.com/ap/CALX
Investor releaseQuarter not tagged2026-04-22Calix (CALX) Tops Q1 Earnings and Revenue Estimates
Zacks
Calix (CALX) Tops Q1 Earnings and Revenue Estimates
Calix (CALX) came out with quarterly earnings of $0.4 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +6.19%. A quarter ago, it was expected that this cloud, software platforms, systems and services provider for communications service providers would post earnings of $0.38 per share when it actually produced earnings of $0.39, delivering a surprise of +2.63%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Calix, which belongs to the Zacks Internet - Software industry, posted revenues of $279.98 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.02%. This compares to year-ago revenues of $220.24 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Calix shares have lost about 2.6% since the beginning of the year versus the S&P 500's gain of 3.9%. While Calix has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Calix was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can se...
TranscriptFY2026 Q12026-04-21FY2026 Q1 earnings call transcript
Earnings source - 84 paragraphs
FY2026 Q1 earnings call transcript
As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Nancy Fazioli, Vice President of Investor Relations. Nancy, please go ahead.
Thank you, Alicia, and good afternoon, everyone. Thank you for joining our first quarter 2026 earnings call. Today on the call, we have President and CEO, Michael Weening, and Chief Financial Officer, Cory Sindelar. As a reminder, today after the market closed, Calix issued news releases, which were furnished on a Form 8-K along with our stockholder letter, and were also posted on the investor relations section of the Calix website. Today's conference call will be available for webcast replay in the investor relations section of our website. Before I turn the call over to Michael for his opening remarks, I want to remind everyone that on this call we will refer to forward-looking statements, including all statements the company will make about its future financial and operating performance, growth strategy, and market outlook, and that actual results may differ materially from those contemplated by these forward-looking statements.
Factors that could cause actual results and trends to differ materially are set forth in the first quarter 2026 letter to stockholders and in the annual and quarterly reports filed with the SEC. Calix assumes no obligation to update any forward-looking statements which speak only as of their respective dates. Also in this conference call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in the first quarter 2026 letter to stockholders. Unless otherwise stated, all financial information referenced to this call will be non-GAAP. With that, Michael, please go ahead.
Thank you, Nancy. It was another incredible execution quarter for the Calix team. Record revenue, with strong demand continuing into 2026 with customers. At the end of March, we completed the migration of all existing customers to the third generation of the Calix platform, launch on Google Cloud, thereby enabling the expansion of our capabilities and the markets that we target. As important, those customers who expand their partnerships with Calix on Calix One begin to see the benefits rapidly as Agent Workforce and our AI-native platform comes to life. The impact of AI will now start contributing to our customers' success by helping them transform their operations, allowing their teams to add capacity and capability with AI, and accelerate experiences that they need to differentiate in the markets they serve, thereby enabling their teams to compete and win. Today's call is focused on the quarter and our 2026 outlook.
Tomorrow at Investor Day, we'll go deeper on how Calix One expands the opportunity of our model with proof directly from customers who will attend the event and are ready to share. With that, I'll turn it over to Cory to walk through the results and guidance, and then we'll take your questions. Cory, over to you.
Thank you, Michael. In the first quarter of 2026, Calix delivered yet another quarter of record revenue of $280 million, marking a sequential increase of 3%, driven by continued strong demand for our platform. This quarter, we welcomed 14 new customers, reinforcing our ongoing efforts to grow our customer base while supporting their expansion within the local communities they serve. Remaining performance obligations were $376 million, down 2% sequentially and up 11% year-over-year. The sequential decline related to a robust fourth quarter comparison and our focus on completing the migration of customers to the new third generation platform. Current RPOs in the first quarter were a record $157 million, representing a 3% sequential increase and a 22% rise from the same period last year.
We anticipate that RPOs will re-accelerate in the second half of 2026 as we gain momentum with Calix One, underscoring the strength of our business model as customers focused on delivering exceptional experiences, adopt our platform, add incremental offerings, and win new subscribers. non-GAAP gross margin was 57.2%, down 80 basis points sequentially due to investment in our dual cloud environments as we migrated customers to our third generation platform. Compared to last year, non-GAAP gross margin increased 100 basis points. Our balance sheet remains strong. DSO at the end of the first quarter was 36 days. Inventory turns remained steady at three, reflecting continued inventory investments to address robust demand and building supply continuity, and we generated free cash flow in the quarter of $7 million. We also invested $171 million to buy back 3.3 million shares of our common stock at an average price of $51.34.
Furthermore, the board today authorized another $100 million to be added to this program. This investment speaks to our belief in the tremendous opportunity ahead and our commitment to creating lasting value for our stockholders. We finished the quarter with a strong cash and investment balance of $243 million. Turning to guidance. Our revenue guidance for the second quarter of 2026 is between $287 million and $293 million, representing a 4% increase at the midpoint over the prior quarter. This reflects continued robust demand trends and a modest benefit from recapturing a portion of the higher memory costs via a memory surcharge. For the year, we expect revenue to grow between 15% and 20%. With demand supply disconnect so large related to memory components, there will inevitably be some companies that will come up short.
Our first priority is to ensure that we have adequate supply such that our customers can continue to add subscribers and take market share. Our advanced purchasing had allowed us to avoid higher memory component costs during the first quarter. However, that advanced supply has run its course and we now face market prices. We are partnering with our customers to share in the higher memory costs by initiating a surcharge. Albeit it is a partial cost recovery, and without adding gross profit, is one way we can help our customers in this unfortunate memory supply environment. Our gross margin guidance for the second quarter of 2026 is between 54.25% and 57.25%, reflecting the effects of higher memory component costs, the impact from surcharges, and the customer and product mix.
The decline in appliance gross margin is expected to be offset by improvement in software and service gross margin as the dual cloud costs abate, and we optimize the current cloud environment. For the year, we expect our non-GAAP gross margin to decline between 50 and 150 basis points. For non-GAAP operating expenses, we forecast $128 million at the midpoint in the second quarter of 2026, which is a sequential increase of $1 million. This increase is mainly driven by our efforts to expedite AI functionality and enhancements to the Calix One platform. Importantly, we continue to expect to return to our target financial model for operating expenses by the end of 2026, improving our operating leverage and profitability. Tomorrow morning, we are excited to host our first Investor Day in four years at the New York Stock Exchange.
The event will provide a look into our strategy, innovation roadmap, and the long-term prospects that drive our confidence for the future. In addition, we will outline our key targets for growth, profitability and cash flow, giving investors benchmarks to track our progress and understand how we are positioning Calix for sustained success in the coming years. Nancy, let's open the call for questions.
Operator, we're ready for questions.
Thank you. We will now be conducting a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants with speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment please while we poll for questions. Thank you. Our first question comes from the line of Samik Chatterjee with JPMorgan. Please proceed.
Hi. Thanks for taking my questions. I have a couple. Maybe if I can just start with you, Cory, on the gross margin guide here, just to fully understand the drivers. Once you put the surcharges through, are you expecting a recovery in the back half of the year in relation to gross margins on the appliances as some of these surcharges flow through on your revenue line? And then if memory does continue to sort of go higher, memory costs continue to go higher, what's the plan here? Because you're not passing through the margin on the cost increase. So what prevents more downside on the margin percentage as we go through the year if memory costs continue to increase? I will follow up. Thank you.
Yeah. Thank you for the question. Our plan is to recover the costs, and so if there are further cost increases, we would adjust the surcharges accordingly. The effect of the surcharges by themselves put a headwind to the gross margin. I estimate that in 2026, the effect of the surcharges from here to the end of the year represent a 200 basis point headwind, because you're adding a large amount of revenue at zero points of margin to go through it.
Okay, got it. Then maybe just on the demand side, you did mention sort of stronger demand from your customers, and I'm sort of trying to parse out, obviously haven't been able to do the math yet in terms of you're raising the revenue guide from earlier talking about 10%-15% growth on the top line to now 15%-20%. You also are outlining stronger sequential growth for 2Q than you have in the last couple of quarters. How much of that is stronger customer demand that you're seeing in terms of orders versus the benefit from the price increase, which you're referring to as a sort of decently large price increase that's going to go through the revenue line as well?
Just maybe help us break that down and what you're seeing in terms of customer orders that's maybe giving you a bit more confidence as well. Thank you.
Yeah. Great question. The majority of the quarter-over-quarter increase is due to customer demand, and a lesser portion is the surcharges. We are rolling out those surcharges now. They'll take effect in May. We're not getting a full quarter of recovery this current quarter. Consequently, the majority of that increase in revenue is coming from increased demand and to a lesser extent, memory and price increases.
Okay, great. Thank you. Thanks for taking my questions.
Thank you. Our next question comes from the line of Scott Searle with Roth Capital Partners. Please proceed.
Hey, good afternoon. Thanks for taking my questions. Just wanted to dive in on the gross margins related to the dual cloud costs. It looks like it was in the $3 million-$4 million range. Just want to clarify, does that go away completely by the second half? How should we think about modeling that? I had a follow-up.
Yeah. Great question, Scott. That's the good news story, is that we've got all the customers migrated onto the new cloud. Yes, the dual cloud environment is done. It's done. As we sit here today, it's done. The penalty that we incurred happened in the first quarter. I think you got it sized about right. What you would expect to see on that line, is for it to return back to levels that were previously at. I would expect within the next quarter or two, we'll be back at record levels and continuing the progress that we've been making on that line.
In terms of my follow-ups, I've got a lot as it relates to the One platform, but rather than preempt tomorrow, I'll save it for then. Maybe if I just could, fiber availability in general, how is that impacting demand? It's been interesting to see some of the Starlink numbers that are filtered to the marketplace, where they've gotten some traction in places that I really didn't expect that they would, in terms of more dense suburban environments than you would ordinarily think that they'd participate. I'm wondering what you're seeing in terms of your customer response on that front, in terms of their demand, their rollout plans. Is this pushing them to accelerate? How is that kind of factoring into the calculus in terms of the overall market demand of your core customers? Thanks.
I spend a lot of time with customers. It's Michael. While the Starlink thing is there, you generally see it in rural areas where, when you have a six-mile run to actually join a farm. Obviously Starlink is a good example there. I don't hear anyone saying I need to accelerate my roll out of fiber to compete. For us, frankly, another competitive pressure is a good thing for Calix because if you think about, which we'll talk about tomorrow, we try to think about the experience-based nature of what we're doing and how we help our customers differentiate and transform their business to win subscribers and grow net revenue by delivering an amazing experience, whether it's in consumer, small business, or multi-dwelling units. Frankly, that's good for our business because that gets them listening if in the past they didn't feel that competitive threat.
It's all good.
Hey, Mike. Just fiber availability, what are customers saying? Maybe if I could sneak one other in. I think you talked about guidance for 15%-20% this year. 15% is really just kind of bumping along at the level you're at today. What kind of visibility do you have, in terms of deployments into the second half? Are you starting to feel pretty good about the lower end of that range? Thanks.
I haven't heard anything about fiber availability. Have you?
There's been some talk that.
A little bit of like scuttlebutt?
For BEAD related.
For BEAD, yeah. We expected that as all that BEAD money starts flowing, that there's going to be some supply, right? Cory, any comments on that?
Yeah, Scott, I'm either more bullish or more negative on BEAD at the moment. I would say my temperature is about the same. It's progressing as we would expect. We've got tens of millions of dollar forecast in the second half of 2026 related to BEAD. We're starting to see states actually start receiving their money. Things are kind of working its way out. We are not hearing that fiber shortages is causing a significant impact to the BEAD demand as we're hearing it.
Okay, great. Thanks. I look forward to the analyst day tomorrow.
See you tomorrow.
Thank you. Our last question comes from the line of Christian Schwab with Craig-Hallum Capital Group. Please proceed.
Hi. Congrats on the good quarter.
Thanks.
Just for further clarity, our previous guidance was 10%-15% top line and near the high end, and now we've taken it to 15%-20%. Should we just assume that the surcharges that is going on, there's incrementally better visibility and continued strong demand, but demand isn't accelerating beyond what you thought 90 days ago, is it, or isn't it?
It's yes and yes to that, Christian. Clearly the effect of surcharges is going to move us up into that higher part of the range. We're also seeing some of the best demand that we've seen.
Yeah, as we'll talk about tomorrow on Investor Day, right? For us, as everybody knows, when you're rolling out the next stage in a platform, going through that evolution, there can be unexpected challenges. We had gone pretty hard for being done in Q1, and I'm really proud to say that the team got through it. Having got through that and not facing any incremental delays, that allows Cory and I to sit on this call and be very bullish about the future for 2026, because this is what our team has worked towards since November of 2023.
We've been pounding away at this for over two and a half years, and now our AI-native platform has got more than 1,200 customers loaded. Tomorrow we're going to talk about how fast we're going to go and how we're going to go skidding out into that nice big blue ocean of incremental TAM and compete aggressively to grow the company. Yes, you're hearing me be very bullish, as you'll hear tomorrow during Investor Day.
Great. Maybe just a quick follow-up question is as it relates to BEAD, congrats on finally getting some of that dollars generated for the company. I think you said tens of millions in the second half of calendar 2026. What is the internal plan for what year you think will be the peak of that program? And what type of annual revenue number should we be thinking about?
Christian, we've talked about that in the past. We've done some high-level math. I think that you'll start to see this thing ramp more significantly in 2027, probably peaks in 2028. I don't think that I would want to put a number on it, but it's potentially high tens of millions.
Okay, great. Go ahead.
No.
Okay.
As we've said about BEAD, we see that as an accelerant on top of the core growth model, right?
Correct. Got it. All right. No other questions. Thanks, guys.
Thank you. Our next question comes from the line of George Notter with Wolfe Research. Please proceed.
This is Terren on for George. Just a quick question. Any updates on traction with tier one customers, especially on the cloud side?
None that we're willing to share.
Okay, got it. Any comment on the quarter-over-quarter uptick in appliances? I think you guys have mentioned in the past that DZS takeouts are mostly done, if not all out. What drove that? Just the quarter-over-quarter.
Customer demand for our products because of the fact that we're better than our competitors.
Yeah, it was within our guidance that we provided. There was no surprises in the quarter.
We added customers-
Thank you so much.
Added customers, and we'll talk about that tomorrow on Investor Day when we walk through the core drivers of growth.
Great to hear. Awesome. Thank you.
Thank you.
Thank you. Our next question comes from the line of Tim Savageaux with Northland Capital Markets. Please proceed.
Hey, good afternoon. Maybe a couple of questions. First, I don't know if you mentioned it up front, but if you can go through the BEAD commentary again. Was it any more granular than tens of millions in the second half? Maybe on a somewhat related note, there's been some news out of the FCC recently about foreign-made routers in the U.S. and some exemptions there. I wonder if any of that has any implications for Calix. Thanks.
Yeah, Tim, on the BEAD piece, all we've said is that we would start to see revenue that I'm either more bullish or less bullish. I am even keeled through last quarter to this quarter. Things are progressing along as you would expect it to. We think that then translates into tens of millions in the back half of this year, and obviously the ramp will start next year. In terms of FCC regulation, it appears to be that the timing is fairly quick, kind of measured in weeks, not months. We would expect to be receiving our conditional approval here soon. Calix has sought and received various government approvals over Calix's 26-year history. Expect no difference here. I would also point out that FCC approval alone doesn't really differentiate your product at all.
Where Calix wins is after you deploy, with automation and intelligence and subscriber experience, that lowers OpEx and drives business outcomes.
Which we'll talk a lot about tomorrow at Investor Day, is that, as Cory said, in the last 26 years, we've done this frequently through a myriad of government programs, and as a proud American company, we're actually going to show you tomorrow what the power of an AI-native agentic-ready platform, how that's going to help us transform our customers' business, and that's going to drive outcomes. Press release on FCC is kind of irrelevant. We do it.
Well, okay. Maybe just a quick follow-up there.
Sure.
Is the timing of conditional approval having any impact on the business at all?
None. Zero.
Others have-
Absolutely none.
Okay.
Absolutely none. The FCC is actually moving really quickly, so we anticipate no issues whatsoever. It's a non-event. We will do this quickly because we're already well down the cycle, and so we won't press release it. All of our customers will be made aware quickly as that resolves itself.
Tim, to be a little bit more clear on it, any existing product that's shipping is not at risk, so it's not having any impact on current shipments. It is the next release in terms of new products coming into the marketplace, and so we have a number in the pipeline, and those are what we've applied for conditional approval. Expect to get those approvals. It appears that the FCC is moving pretty fast.
Which is great. We are surprised at how fast the process is going. It's great.
We don't anticipate there being any problems as a result of those new rules.
Got it. Appreciate that color.
Yep. Thanks for the question. Good one.
Thank you.
Will we see you tomorrow?
Oh.
Are we driving?
Go ahead, Alicia.
Apologies. We have reached the end of our question and answer session. I would now like to turn the call back over to Nancy Fazioli for closing remarks.
Thank you. Calix will participate in several investor events during the second quarter, most importantly, hosting our Investor Day at the New York Stock Exchange tomorrow, as referenced. Information about these events, including dates and times and publicly available webcasts, will be posted on the events page of the investor relations section of calix.com. Once again, thank you to everyone on this call and webcast for your interest in Calix and for joining us. This concludes our conference call. Have a good day.
Investor releaseQuarter not tagged2026-03-30Calix to Post First Quarter Results and Host Earnings Call on April 21, 2026; Hosts Investor Day on April 22, 2026
Business Wire
Calix to Post First Quarter Results and Host Earnings Call on April 21, 2026; Hosts Investor Day on April 22, 2026
SAN JOSE, Calif., March 30, 2026--(BUSINESS WIRE)--Calix, Inc. (NYSE:CALX) today announced that on Tuesday, April 21, 2026, after market close, the company will post on the Calix Investor Relations website its first quarter stockholder letter for the period ended March 28, 2026. The posting of the stockholder letter will be announced over the newswire with a link to the letter to stockholders available at https://investor-relations.calix.com/. Calix will host a conference call to discuss these results the same evening at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time. Interested parties may listen to a live webcast of the conference call by visiting the Events page of the Calix Investor Relations website. The live conference call will be available by dialing (877) 407-4019, or international (201) 689-8337, with conference ID#13759279. Participants may also click this link for instant telephone access to the event. The link will become active approximately 15 minutes prior to the start of the conference call. The conference call and webcast will include forward-looking information. A webcast replay of the conference call will be available following its completion and will be archived on the Calix Investor Relations website. This timing reflects the proximity of Calix’s Investor Day, which will be held the following day. As previously announced, the Company will host its Investor Day in-person for analysts and institutional investors on April 22, 2026 at the New York Stock Exchange in New York City. The presentation is scheduled to begin at 10:00 a.m. Eastern Time and will also be available virtually from the Events page of the Calix Investor Relations website. Members of Calix's executive leadership team plan to present information regarding the company's long-term strategy and financial outlook. For questions or to register your interest, please contact Calix Investor Relations at [email protected]. About Calix Calix, Inc. (NYSE: CALX) – is an AI and cloud platform company that helps communication service providers (CSPs) transform into communication experience providers (CXPs) that deliver exceptional experiences to subscribers and communities. Through Calix One, the world’s leading AI-native broadband platform, CXPs can securely activate agentic AI to acquire new subscribers, grow revenue from existing subscribers and build loyalty across reside...
Investor releaseQuarter not tagged2026-03-25Paychex (PAYX) Beats Q3 Earnings and Revenue Estimates
Zacks
Paychex (PAYX) Beats Q3 Earnings and Revenue Estimates
Paychex (PAYX) came out with quarterly earnings of $1.71 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $1.49 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.99%. A quarter ago, it was expected that this payroll processor and human-resources services provider would post earnings of $1.24 per share when it actually produced earnings of $1.26, delivering a surprise of +1.61%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Paychex, which belongs to the Zacks Internet - Software industry, posted revenues of $1.81 billion for the quarter ended February 2026, surpassing the Zacks Consensus Estimate by 1.36%. This compares to year-ago revenues of $1.51 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Paychex shares have lost about 19.2% since the beginning of the year versus the S&P 500's decline of 4.2%. While Paychex has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Paychex was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today'...
Investor releaseQuarter not tagged2026-02-12Buy These 3 Mid-Sized AI Infrastructure Stocks on Strong Q4 Earnings
Zacks
Buy These 3 Mid-Sized AI Infrastructure Stocks on Strong Q4 Earnings
The momentum of the artificial intelligence (AI) infrastructure segment is likely to continue in 2026. The AI space remains rock solid supported by an extremely bullish demand scenario. A section of financial experts and analysts is concerned about the highly overstretched valuation of AI bigwigs — both infrastructure developers and application implementers. However, a microscopic analysis has revealed that several small and mid-sized AI stocks that underperformed the broader market in the past year, could become game changers in 2026. Here, we recommend two such stocks after reporting strong fourth-quarter 2025 earnings results. These companies are: Calix Inc. CALX, Teradata Corp. TDC and Lumen Technologies Inc. LUMN. Each of our picks currently carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. The chart below shows the price performance of our three picks year to date. Image Source: Zacks Investment Research Zacks Rank #2 Calix came up with quarterly adjusted earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.38. This compares to earnings of $0.08 per share a year ago. Quarterly revenues of $272.45 million, surpassed the Zacks Consensus Estimate by 0.90%. CALX provides the cloud, software platforms, systems and services required for communications service providers to simplify their business, increase their subscribers and grow their value. CALX operates in the United States and internationally. CALX offers its Cloud platform services through Calix Engagement Cloud, Calix Operations Cloud, and Calix Service Cloud. CALX has integrated AI into its cloud platform and products to enhance broadband experience providers' operations, subscriber engagement, and service delivery. CALX offers AI-powered marketing solutions for the health and finance industries, AI-powered chatbots, and AI-driven initiatives like Calix AI Agents. CALX’s major clients are large Broadband Service Providers (BSPs) such as Lumen Technologies, Verizon Communications Inc. (VZ), Windstream and several other regional and rural BSPs. Calix has an expected revenue and earnings growth rate of 15.6% and 41.5%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 4.9% over the last 30 days. Zacks Rank #2 Teradata reported quarterly adjusted earnin...
Investor releaseQuarter not tagged2026-02-05The New York Times' Q4 Earnings Beat Highlights Digital Momentum
Zacks
The New York Times' Q4 Earnings Beat Highlights Digital Momentum
The New York Times Company NYT continued its strong performance in the fourth quarter of 2025, with results surpassing expectations for both the top and bottom lines. Adjusted earnings came in at 89 cents a share, topping the Zacks Consensus Estimate of 88 cents and improving from 80 cents in the prior-year quarter. Revenues rose 10.4% year over year to $802.3 million, outpacing the Zacks Consensus Estimate of $790 million. The quarter’s strength reflected healthy subscription momentum, robust digital advertising growth, contributions from diversified revenue streams and solid free cash flow generation. NYT added approximately 450,000 net digital-only subscribers in the quarter under review compared with the end of the preceding quarter. The New York Times Company consistently grew its digital-only average revenue per user (ARPU), which increased to an impressive $9.72 in the fourth quarter from $9.65 in the year-ago period. This rise in ARPU can be attributed to subscribers transitioning from promotional pricing to higher rate plans and price hikes for certain tenured subscribers. Total subscription revenues climbed 9.4% year over year to $510.5 million in the quarter under review. Subscription revenues from digital-only products jumped 13.9% to $381.5 million. This reflects an increase in bundle and multi-product revenues and a rise in other single-product subscription revenues, partly offset by a decline in news-only subscription revenues. However, print subscription revenues dropped 2% to $129 million, reflecting continued softness in home delivery and single-copy sales. The company ended the quarter with 12.78 million subscribers across its print and digital products, including 12.21 million digital-only subscribers. Of the 12.21 million subscribers, roughly 6.48 million were bundle and multiproduct subscribers. The New York Times Company remains optimistic about sustaining its growth trajectory into the first quarter of 2026. Management guided for digital-only subscription revenues to rise 14-17%, reflecting continued momentum in multi-product bundles and subscriber engagement. Total subscription revenues are expected to increase 9-11%. The New York Times Company price-consensus-eps-surprise-chart | The New York Times Company Quote Total advertising revenues improved 16.1% year over year to $191.7 million. Digital advertising revenues surged 24.9% to $...
Investor releaseQuarter not tagged2026-01-31Calix Share Price Decreases 11.9% Despite Strong Q4 Earnings Growth
Zacks
Calix Share Price Decreases 11.9% Despite Strong Q4 Earnings Growth
Calix CALX shares have lost 11.9% since the company reported its fourth-quarter 2025 results on Jan. 28. The decline can be attributed to the company’s disappointing first-quarter 2026 outlook. In the first quarter of 2026, the company expects some near-term impacts on the non-GAAP gross margin due to customer mix and overlapping cloud costs, as it moves to its third-generation platform. However, Calix reported fourth-quarter 2025 non-GAAP earnings of 39 cents per share, which beat the Zacks Consensus Estimate by 1.75%. The company had registered non-GAAP earnings of 8 cents in the year-ago quarter. Non-GAAP revenues of $272.4 million, which beat the consensus mark by only 0.90%, increased 3% on a sequential basis and 32% on a year-over-year basis. This growth was driven by strong demand for its platform among broadband experience provider (BXP) customers. In the fourth quarter of 2025, remaining performance obligations reached a record $385 million, up 9% quarter over quarter and 18% year over year. Calix’s Appliance revenues, which include our Access Edge and Experience Edge appliances and related optics, were $225.8 million, which accounted for 82.9% of total revenues. The figure represents a year-over-year increase of 35.8% and 2% on a sequential basis. This growth was primarily driven by the continued adoption of Calix's platform, as well as the growing network market and on-premises appliances. Calix, Inc price-consensus-eps-surprise-chart | Calix, Inc Quote Software and Services revenues were $46.6 million, which contributed 17.1% of total revenues, representing a 17.2% year-over-year increase and 7% on a sequential basis. The growth was driven by demand for platform licenses, Calix Cloud and managed services. The non-GAAP gross margin expanded 250 basis points (bps) year over year to 58%. The non-GAAP appliance gross margin for the fourth quarter of 2025 was 57.4%, reflecting an increase of 120 basis points sequentially and 380 basis points year over year. The non-GAAP software and services gross margin for the reported quarter was 61.3%, a decline of 390 basis points sequentially and 240 basis points year over year, primarily due to dual cloud costs incurred during the transition to the third-generation platform. Sales and marketing expenses, as a percentage of revenues, decreased 350 bps from the year-ago quarter’s level to 21.9%. Research and deve...