Filing Flows › Calix (CALX) › Q3 2026 › vs Q3 2025
Calix (CALX) Q3 2026 vs Q3 2025 (year over year)
Calix's revenue rose $36.3M (+14%) from $265M in Q3 2025 to $302M in Q3 2026. The biggest changes: Appliance +$27.8M (+13%); Software and service +$8.5M (+19%). Gross margin 53.3% against 57.3% (-4.0 pts).
Calix, Q3 2026: revenue $302M (+14% year over year), operating margin 5.5%, net earnings $10.2M, operating cash flow $6.3M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 53.3% | 57.3% | -4.0 pts |
| Operating margin | 5.5% | 6.6% | -1.1 pts |
| Net margin | 3.4% | 5.9% | -2.5 pts |
| Free cash flow margin | 1.1% | 10.1% | -8.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Appliance | $250M | $222M | $27.8M | +13% |
| Software and service | $51.9M | $43.5M | $8.5M | +19% |
| Revenue | $302M | $265M | $36.3M | +14% |
| Gross profit | $161M | $152M | $8.8M | +6% |
| Cost of revenue | $141M | $113M | $27.5M | +24% |
| Other income, net | $1.5M | $2.9M | −$1.4M | -48% |
| Operating profit | $16.6M | $17.4M | −$852K | -5% |
| Operating expenses | $144M | $135M | $9.6M | +7% |
| Pre-tax earnings | $18.1M | $20.3M | −$2.3M | -11% |
| Research & development | $54.1M | $47.1M | $7.0M | +15% |
| Sales & marketing | $63.6M | $60.3M | $3.3M | +5% |
| General & admin | $26.6M | $27.3M | −$695K | -3% |
| Net earnings | $10.2M | $15.7M | −$5.4M | -35% |
| Income tax | $7.8M | $4.7M | $3.2M | +68% |
| Operating cash sources | $35.7M | $41.0M | −$5.3M | -13% |
| Depreciation & amortization | $4.5M | $4.7M | −$238K | -5% |
| Share-based compensation | $21.0M | $20.6M | $360K | +2% |
| Working capital & other | $29.4M | $8.7M | $20.7M | +239% |
| Operating cash flow | $6.3M | $32.3M | −$26.0M | -80% |
| Free cash flow (company-reported) | $3.4M | $26.7M | −$23.3M | -87% |
| Purchases of property and equipment | $2.9M | $5.6M | −$2.8M | -49% |
Questions
How much did Calix's revenue grow year over year in Q3 2026?
Calix's revenue rose $36.3M (+14%) from $265M in Q3 2025 to $302M in Q3 2026.
What drove Calix's revenue change in Q3 2026?
Appliance +$27.8M (+13%); Software and service +$8.5M (+19%).