Calix, Inc. Q2 2026 Earnings Call Summary: Record Performance Driven by AI Platform
Calix, Inc. reported record Q2 2026 results, driven by the first full quarter of its AI-native Calix One platform, which led to record RPOs and software revenue. Management noted a shift as 'late majority' customers adopt AI capabilities, making AI strategy non-negotiable for broadband providers. Operational leverage improved with a single cloud infrastructure migration, boosting software and service gross margins by 810 basis points sequentially. The company expects annual revenue growth at the higher end of 15-20% for 2026, supported by strong software growth and anticipated BEAD funding tailwinds. However, memory cost inflation poses a headwind, leading to a surcharge program designed to be gross profit neutral. Appliance gross margins are expected to bottom in Q3 2026. The company repurchased $69 million in shares, reflecting confidence in its strategic pivot. Management also addressed competitive dynamics with satellite providers like Starlink, emphasizing fiber's superiority and the need for AI-driven brand dominance.
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