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How Calix (CALX) makes money

Calix (CALX) made $302M of revenue in the third quarter 2026 (Q3 2026), +14% from a year earlier. Appliance brought in $250M (83%); Software and service brought in $51.9M (17%). Of every dollar of revenue, 53¢ was left as gross profit, 5¢ was left as operating profit, 3¢ was left as net earnings.

Drawing the Sankey…

Calix revenue by segment, Q3 2026Calix revenue by segment, Q3 2026Appliance$250MSoftware and service$51.9M
Calix: revenue by line, Q1 2026 to Q3 2026Calix: revenue by line, Q1 2026 to Q3 2026ApplianceSoftware and serviceAppliance: $250M latest$250MSoftware and service: $51.9M latest$51.9MQ1 2026Q2 2026Q3 2026
The mix barely moved between Q1 2026 and Q3 2026.
Calix revenue by quarterCalix revenue by quarter$220MQ1 2025$242MQ2 2025$265MQ3 2025$272MQ4 2025$280MQ1 2026$293MQ2 2026$302MQ3 2026
Calix: where each dollar of revenue goesCalix: where each dollar of revenue goesCost of revenue47¢Gross profit53¢Operating expenses48¢Operating profit5¢Income tax3¢Net earnings3¢Operating cash flow2¢Free cash flow1¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Appliance$250M82.8%+3%+13%
Software and service$51.9M17.2%+3%+19%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$302M100.0%
Cost of revenue$141M46.7%
Gross profit$161M53.3%
Operating expenses$144M47.8%
Operating profit$16.6M5.5%
Income tax$7.8M2.6%
Net earnings$10.2M3.4%
Operating cash flow$6.3M2.1%
Free cash flow$3.4M1.1%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$302M+14%
Q2 2026$293M+21%
Q1 2026$280M+27%
Q4 2025$272M+32%
Q3 2025$265M+32%
Q2 2025$242M+22%
Q1 2025$220M-3%

From Calix's 10-Q filed Nov 3, 2026 (on EDGAR).

Questions

How does Calix make money?

Calix (CALX) made $302M of revenue in the third quarter 2026 (Q3 2026), +14% from a year earlier. Appliance brought in $250M (83%); Software and service brought in $51.9M (17%). Of every dollar of revenue, 53¢ was left as gross profit, 5¢ was left as operating profit, 3¢ was left as net earnings.

What is Calix's biggest business?

Appliance: $250M in the third quarter 2026, 83% of revenue, +13% from a year earlier.

What is Calix's profit margin?

Net earnings were $10.2M, 3.4% of revenue, in the third quarter 2026; the operating margin was 5.5%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.