CALIX, INC — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
Calix reported Q3 2026 revenue of $301.7M (14% YoY growth, 3% sequential), with software/service revenue at $51.9M (+19% YoY). Remaining performance obligations hit record $395.7M (+12% YoY). Non-GAAP gross margin was 53.5% (130 bps sequential decline due to memory cost pressures partially offset by surcharges). The company repurchased 1.4M shares for $50.0M in Q3 (6.3M shares for $290.2M YTD), and the Board authorized an additional $100M buyback in October 2026. Free cash flow was $3.4M in Q3. Full-year 2026 revenue expected to grow ~19% (at higher end of 15-20% guidance).
Why this rating
Strong top-line growth (14-19%), platform traction, and capital returns offset by margin pressure from memory costs and modest free cash flow relative to $2.1B market cap. Ordinary quarterly result.
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