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Calix (CALX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Calix (CALX) Q3 2026 earnings results →
Q3 2026 Revenue up 14% year over year to $302M · 3¢ of every $1 of revenue kept as net profit · operating margin 5.5%
Calix made $302M in Q3 2026 (+14% Y/Y): Appliance $250M, Software and service $51.9M. Operating margin 5.5%, net earnings $10.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $301.7M in Q3 2026, up 14% year over year and up 3% from the previous quarter. Appliance was the largest line at 83% of revenue. Appliance added $27.8M year over year (up 13%), 77% of the total change.
Gross margin was 53.3%, down 4.0 points from Q3 2025. Operating profit was $16.6M, a 5.5% margin (down 1.1 points year over year). Operating profit fell $852K even though revenue rose $36.3M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 7% against revenue growth of 14%. The fastest-growing cost line was Research & development (+15%). Net earnings were $10.2M, down 35% year over year. The effective tax rate was 43.4%.
Operating cash flow was $6.3M (down 80% year over year), 62% of net earnings. Non-cash charges added back $4.5M of depreciation and amortization and $21.0M of share-based compensation. Working capital and other items used $29.4M. After purchases of property and equipment ($2.9M), free cash flow as the company reports it was $3.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $302M | +14% | 5.5% | $10.2M | $6.3M |
| Q2 2026 | 10-Q | Jul 21, 2026 | $293M | +21% | 7.4% | $17.1M | $16.5M |
| Q1 2026 | 10-Q | Apr 22, 2026 | $280M | +27% | 4.5% | $11.2M | $14.6M |
| Q4 2025 | 10-K | Feb 20, 2026 | $272M | +32% | 3.4% | $7.2M | $46.0M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $265M | +32% | 6.6% | $15.7M | $32.3M |
| Q2 2025 | 10-Q | Jul 22, 2025 | $242M | +22% | 0.2% | −$199K | $39.4M |
| Q1 2025 | 10-Q | Apr 22, 2025 | $220M | -3% | -2.8% | −$4.8M | $17.2M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Calix
Calix was founded in 1999. We develop, market and sell platform, cloud and managed services, which are powered by agentic AI, that enable communication service providers (“CSPs”) of all types and sizes to innovate and transform their businesses to focus on delivering outstanding subscriber experiences and become CXPs. The platform combines the Calix Agent Workforce™ with intelligent appliances, software, cloud and fully integrated SmartLife™ managed services to enable simplified business models that acquire, retain and grow subscribers and revenue. Calix Customer Success guides service providers through every stage of their transformation journey with expertise across technology, business and market insights. Our partner community extends innovation so customers can grow their businesses across markets at scale.
In its own words, from its 10-K, filed Feb 20, 2026.
Calix against its Communications Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +3%. Operating margin: 5.5% against the peers' median 5.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CALX Calix | Q3 2026 | $302M | +14% | 5.5% |
| VSAT Viasat | Q2 FY27 | $1.2B | +3% | 0.6% |
| ECHO EchoStar | Q3 2026 | $1.1B | -69% | 13.1% |
| IRDM Iridium Communications | Q3 2026 | $246M | +8% | 12.9% |
| CCOI Cogent Communications Holdings | Q3 2026 | $231M | -4% | -3.0% |
| GOGO Gogo | Q3 2026 | $213M | -5% | 8.0% |
| GSAT Globalstar | Q3 2026 | $70.9M | -4% | 10.7% |
| KVHI KVH Industries | Q3 2026 | $38.4M | +35% | -3.2% |
| ASTS AST SpaceMobile | Q2 2026 | $31.5M | 27× | -948.0% |
Source: Calix 10-Q on SEC EDGAR · CIK 1406666 · Communications Services, NEC
Guidance and outlook
13F: who owns CALX and who is buying
More on CALX
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results