Calix Q2 2026 Earnings Call Transcript

Calix (NYSE: CALX ) reported second-quarter financial results on Tuesday.

The transcript from the company's second-quarter earnings call has been provided below.

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View the webcast at Summary Calix reported record revenue of $293 million for Q2 2026, a 5% sequential increase and 21% year-over-year growth, driven by strong demand and the rollout of the AI-native Calix One platform.

Software and service revenue reached $50 million, up 7% sequentially and 16% year-over-year, with record RPOs of $386 million, signaling strong customer adoption of AI capabilities.

The company provided guidance for Q3 2026 revenue between $301 and $307 million and expects annual revenue growth at the higher end of the 15% to 20% range, despite challenges such as higher memory costs.

Calix successfully completed its platform migration, which contributed to an 810 basis point improvement in non-GAAP software and service gross margin.

The company emphasized its strategic focus on AI through the Calix One platform, which is expected to transform customer operations and drive subscriber growth, revenue growth, and churn reduction.

Full Transcript OPERATOR Greetings everyone and welcome to the Calix second quarter 2026 earnings conference call.

At this time, all participants are in a listen-only mode.

A question-and-answer session will follow the brief prepared remarks.

For anyone requiring operator assistance during the conference, please press Star-0 on your telephone keypad.

As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Nancy Fazioli, Vice President, Investor Relations.

Nancy, please go ahead.

Nancy Fazioli, Vice President, Investor Relations Thank you, Darrell, and good morning, everyone.

Thank you for joining our second quarter 2026 earnings call today.

On the call we have President and CEO Michael Weening and Chief Financial Officer Corey Sindelar.

As a reminder, today after the market closed, Calix issued a news release which was furnished on a Form 8-K along with our stockholder letter and was also posted in the Investor Relations section of the Calix website.

Today's conference call will be available for webcast replay in the Investor Relations section of our website.

Before I turn the call over to Michael for his opening remarks, I want to remind everyone that on this call we will refer to forward-looking statements, including all statements the company will make about its future financial and operating performance, growth strategy and market outlook, and that actual results may differ materially from those contemplated by these forward-looking statements.

Factors that could cause actual results and trends to differ materially are set forth in the second quarter 2026 letter to stockholders and in the annual and quarterly reports filed with the SEC.

Calix assumes no obligation to update any forward-looking statements, which speak only as to their respective dates.

Also in this conference call we will discuss both GAAP and non-GAAP financial measures.

A reconciliation of GAAP to non-GAAP measures is included in the second quarter 2026 letter to stockholders that was posted yesterday.

Unless otherwise stated, all financial information referenced in this call will be non-GAAP.

With that, Michael, please go ahead.

Michael Weening, President and CEO Thank you, Nancy.

Much like the.com revolution before it, the AI revolution is changing how society functions and will transform business models in every industry.

The key difference between the.com era and the AI era is the rate of change.

The AI rate of change is unprecedented and those who move fast will lead the industries they serve.

The second quarter was the beginning of Calix the AI leader as we began realizing the value of our 15-year investment through the first full quarter of our AI-native Calix One platform being live.

Calix One has access to data, insights, and the ability to autonomously, or through team member augmentation, improve operations, marketing, support, and subscriber experiences for our service provider customers, regardless of size.

These expanding Calix One capabilities enable our customers to address the threat of broadband commoditization through differentiated experiences, resulting in winning new subscribers, growing revenue, and higher retention across consumer, business, MDU, and the municipal segments they serve, while improving operating costs with a predictable implementation of AI capabilities.

Customer interest in Calix One exploded in Q2, driving record RPOs and record software and services revenue, while the strength of the platform was evidenced by the significant jump in software and service margin.