Calix, Inc. filed its Form 10-Q for the quarterly period ended September 26, 2026 with the U.S. Securities and Exchange Commission on November 3, 2026, reporting third-quarter and year-to-date financial results alongside a significant share repurchase program.

Key Highlights

  • Total revenue of $301.7 million for the three months ended September 26, 2026, compared to $265.4 million in the same period of 2025, according to the filing.
  • Net income of $10.2 million for the third quarter of 2026, versus $15.7 million in the prior-year quarter, the filing reported.
  • Nine-month net income of $38.5 million on revenue of $875.0 million, compared to net income of $10.7 million on revenue of $727.6 million for the nine months ended September 27, 2025.
  • Share repurchases of $292.5 million (including excise tax) were executed in the nine months ended September 26, 2026, reducing shares outstanding from 67,120 thousand to 61,803 thousand.
  • Cash and cash equivalents fell to $55.9 million as of September 26, 2026, from $143.1 million at December 31, 2025, with marketable securities declining to $98.9 million from $245.0 million over the same period.
  • Diluted earnings per share of $0.16 for the third quarter of 2026, compared to $0.22 in the third quarter of 2025, as disclosed in the filing.

Calix Reports Q3 2026 Financial Results: Revenue Growth, Lower Net Income, and Large Share Buyback Activity

According to the Form 10-Q filed by Calix, Inc. (NYSE:CALX) for the quarterly period ended September 26, 2026, the company recorded total revenue of $301,712 thousand for the third quarter, up from $265,437 thousand in the third quarter of 2025. Appliance revenue accounted for $249,776 thousand of the quarterly total, while software and service revenue contributed $51,936 thousand. Total cost of revenue for the quarter was $140,943 thousand, yielding gross profit of $160,769 thousand, compared to gross profit of $152,010 thousand in the prior-year quarter.

Operating expenses for the third quarter of 2026 totaled $144,216 thousand, including sales and marketing of $63,551 thousand, research and development of $54,067 thousand, and general and administrative costs of $26,598 thousand. Operating income for the quarter was $16,553 thousand, compared to $17,405 thousand in the same period of 2025. Net income declined to $10,218 thousand from $15,658 thousand in Q3 2025, with income tax expense rising to $7,845 thousand from $4,676 thousand. Basic earnings per share were $0.16 and diluted earnings per share were $0.16 for the third quarter of 2026, the filing stated.

On the balance sheet as of September 26, 2026, the company reported total assets of $918,633 thousand and total liabilities of $220,942 thousand, resulting in total stockholders' equity of $697,691 thousand. The filing disclosed that 6,313 thousand shares were repurchased during the nine-month period for $292,540 thousand including excise tax, contributing to a share count reduction from 67,120 thousand at December 31, 2025 to 61,803 thousand as of September 26, 2026. As of October 15, 2026, the filing noted 61,802,243 shares of common stock outstanding.

What Was Disclosed

Calix filed its quarterly report covering the period ended September 26, 2026, disclosing revenue growth year-over-year, lower net income relative to Q3 2025 due to higher tax expense, and substantial share repurchase activity that reduced cash and marketable securities balances materially from year-end 2025 levels.