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Calix (CALX) investor relations material
Calix Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary29 Jan, 2026
Executive summary
Achieved record revenue of $272 million in Q4 2025, up 3% sequentially and 32% year-over-year, capping a milestone year with over $1 billion in annual revenue, a 20% increase over 2024.
Delivered record gross margin for the eighth consecutive quarter, driven by platform adoption and operational discipline.
Launched the third generation of the platform, with over 300 customers migrated and full migration targeted by end of Q1 2026.
Entering a sustained growth phase for 2026, with high demand visibility and confidence in continued expansion.
Released unaudited financial results for the fourth quarter of 2025, with details available in a letter to stockholders.
Financial highlights
Q4 2025 revenue reached $272 million, up 3% sequentially and 32% year-over-year.
Annual revenue surpassed $1 billion, reflecting 20% growth over 2024.
Remaining performance obligation (RPO) hit a record $385 million, up 9% sequentially and 18% year-over-year.
Current RPOs at $152 million, up 8% sequentially and 26% year-over-year.
Non-GAAP gross margin reached 58%, marking the eighth consecutive quarter of improvement.
Outlook and guidance
Q1 2026 revenue guidance is $275–$281 million, a 2% increase at the midpoint over Q4.
Non-GAAP gross margin expected to remain strong in Q1 2026, with some near-term impact from customer mix and dual cloud costs.
Non-GAAP operating expenses to increase sequentially in Q1 2026 due to accelerated AI development, with a return to target model by end of 2026.
2026 revenue growth expected in the 10%-15% range, not at the low end, excluding BEAD contributions.
BEAD program expected to provide a $1–$1.5 billion opportunity, with deliveries ramping in late 2026 and into 2027.
Agentic AI cloud's impact on Q4 results?
Managed services contribution to growth?
Subscriber segment performance trends?
BEAD's incremental impact on 2027 growth?
Software gross margin trajectory post-transition?
Tier 1 customer sales cycle and timing
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Next Calix earnings date
Investor Day 202624 Feb, 2026
Calix
Next Calix earnings date
Investor Day 202624 Feb, 2026
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Frequently asked questions
Calix Inc provides cloud and software platforms, systems, and services for broadband service providers. The company enables communications companies to deliver fiber-based broadband, smart home services, and managed Wi-Fi to residential and business customers. Its solutions support network operations, subscriber experience, and revenue growth. The company is headquartered in San Jose, California, and its shares are listed on the NYSE.
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