The earnings call was largely positive, with significant revenue growth, strong gross margins, and successful investment in AI and platform development. Calix's strategic focus on expanding its customer base and enhancing its platform with AI is yielding favorable financial results and positioning the company for future growth. Challenges remain in terms of inventory management and geographic expansion, but these are being actively addressed.

Company Guidance

During the Calix Second Quarter 2025 Earnings Conference Call, the company provided robust guidance and shared several key metrics highlighting their performance and future outlook. Calix reported a 10% sequential revenue growth, reaching $242 million, with record RPOs growing 2% sequentially to $347 million, marking a 30% year-over-year increase. Their non-GAAP gross margin hit a record 56.8%, an increase of 60 basis points sequentially. The company also generated a record free cash flow of $36 million for the quarter, marking their ninth consecutive quarter with eight-digit free cash flow. Looking ahead, Calix projected a third-quarter revenue between $243 million and $249 million, suggesting a 2% sequential increase, and anticipated annual gross margin improvements at the higher end of their target financial model. Additionally, Calix is preparing for a significant launch of their third-generation platform in the second half of 2025, which is expected to further drive growth and operational efficiency through agentic AI and expanded service offerings.

Revenue Growth

Calix reported revenue of $242 million for the second quarter of 2025, which represented a 10% sequential quarterly growth. The company also provided a positive outlook for the third quarter with expected revenue between $243 million and $249 million.

Record Gross Margin and Free Cash Flow

Calix achieved a record non-GAAP gross margin of 56.8%, a 60 basis point sequential increase, and generated record free cash flow of $36 million.

RPO Growth

Record RPOs grew 2% sequentially to $347 million and increased 30% year-over-year, indicating strong demand for Calix's platform, cloud, and managed services model.

Investment in AI and New Platform Launch

Calix is investing in a third-generation platform incorporating agentic AI, with a planned launch in the second half of 2025. This aims to enhance operational efficiency and provide new revenue opportunities for customers.

Strong Balance Sheet

Calix ended the second quarter with record cash and investments of $299 million, even after utilizing $33 million for share repurchases.

New Customer Acquisition

Calix added 18 new BXP customers in the second quarter, mostly competitive takeaways, and signed a large new cloud customer.

Calix (CALX) Earnings, Revenues Date & History

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CALX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 27, 2025	2025 (Q3)	0.34 / -	0.13	―	―	―
Jul 21, 2025	2025 (Q2)	0.21 / 0.33	0.09	266.67% (+0.24)	―
Apr 21, 2025	2025 (Q1)	0.13 / 0.19	0.21	-9.52% (-0.02)	―
Jan 29, 2025	2024 (Q4)	0.07 / 0.08	0.43	-81.40% (-0.35)	―
Oct 28, 2024	2024 (Q3)	0.09 / 0.13	0.45	-71.11% (-0.32)	―
Jul 22, 2024	2024 (Q2)	0.06 / 0.09	0.36	-75.00% (-0.27)	―
Apr 22, 2024	2024 (Q1)	0.20 / 0.21	0.31	-32.26% (-0.10)	―
Jan 29, 2024	2023 (Q4)	0.36 / 0.43	0.34	26.47% (+0.09)	―
Oct 23, 2023	2023 (Q3)	0.36 / 0.45	0.34	32.35% (+0.11)	―
Jul 19, 2023	2023 (Q2)	0.32 / 0.36	0.22	63.64% (+0.14)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CALX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 21, 2025	$53.73	$55.42	+3.15%
Apr 21, 2025	$33.25	$37.61	+13.11%
Jan 29, 2025	$36.87	$40.18	+8.98%
Oct 28, 2024	$39.47	$37.74	-4.38%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.