Filing Flows › Calix (CALX) › Q1 2026
Calix (CALX) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 22, 2026
Calix (CALX) reported revenue of $280M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +3% from the quarter before. Operating margin was 4.5%, net earnings $11.2M (4.0% of revenue).
Calix, Q1 2026: revenue $280M (+27% year over year), operating margin 4.5%, net earnings $11.2M, operating cash flow $14.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $280M | +3% | +27% |
| Gross profit | $159M | +1% | +30% |
| Operating profit | $12.7M | +37% | — |
| Net earnings | $11.2M | +55% | — |
| Operating cash flow | $14.6M | -68% | -15% |
| Free cash flow | $6.5M | -84% | -49% |
What changed
Revenue was $280.0M in Q1 2026, up 27% year over year and up 3% from the previous quarter. Appliance was the largest line at 83% of revenue. Appliance added $53.1M year over year (up 30%), 89% of the total change.
Gross margin was 56.9%, up 1.2 points from Q1 2025. Operating profit was $12.7M, a 4.5% margin (up 7.3 points year over year). Operating expenses grew 14% against revenue growth of 27%. The fastest-growing cost line was Research & development (+24%). Net earnings were $11.2M. The effective tax rate was 26.4%.
Operating cash flow was $14.6M (down 15% year over year), 131% of net earnings. Non-cash charges added back $4.4M of depreciation and amortization and $20.6M of share-based compensation. Working capital and other items used $21.6M. Capital expenditures of $8.1M left free cash flow of $6.5M.
Questions
What was Calix's revenue in the first quarter 2026?
Calix (CALX) reported revenue of $280M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +3% from the quarter before.
Was Calix profitable in the first quarter 2026?
Operating profit was $12.7M (4.5% of revenue) and net earnings $11.2M.
Source: Calix 10-Q on SEC EDGAR.