Calix (CALX)
Unifies broadband access equipment, cloud software, AI agents, and managed services for service providers.
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Sells the Calix One platform—cloud software, AI agents, access and premises appliances, and SmartLife managed services—to broadband providers. Appliance sales remain the largest revenue stream, while cloud subscriptions, licenses, support, and professional services add recurring revenue; customers and sales are concentrated in North America.
Combines Calix Cloud applications, Agent Workforce AI agents, broadband software, Access Edge network equipment, Experience Edge premises appliances, and SmartLife managed services for communications service providers. These products span fiber access, managed Wi-Fi, marketing, operations, subscriber support, and services for homes, businesses, communities, and multifamily properties.
Earns appliance revenue from access and premises hardware, plus software-and-service revenue from licenses, cloud subscriptions, managed services, support, and professional services. A direct sales and Customer Success model supports deployments for local cooperatives, municipalities, fiber overbuilders, and major carriers. Sales remain concentrated in North America, while hardware supply relies on contract manufacturers, design manufacturers, logistics partners, and some single-source components.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 21, 2026 | Northland Securities | Target | Target: $65 | Target: $52 |
| Jul 21, 2026 | Northland Capital Markets | Upgrade | ||
| Apr 23, 2026 | Needham | Reiterate | Rating: —Target: $82 | Target: $62 |
| Jan 30, 2026 | Craig-Hallum | Target | Target: $75 | Target: $60 |
| Jan 15, 2026 | JP Morgan | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 27, 2026Cash & short-term investments $194.3M · Total debt $14.0M · Total assets $954.4M · Shareholders' equity $710.0M
- Revenue
- $293.3M
- Operating income
- $21.8M
- Net income
- $17.1M
No dividends on record.
| Institutions | 96.28% | 60.62M shares | |
|---|---|---|---|
| 293 holders · as of Jun 30, 2026 | |||
| Insiders | 11.14% | 7.01M shares | |
| 1 holder · as of May 19, 2023 | |||
| Adds to | 107.42% | ||
62.96M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 107.42%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 18.70% | 11.78M | as of Jun 30, 2026 |
Carl Russo1Insiderdirector, 10 percent owner | 11.14% | 6.90M | filed May 19, 2023 |
Vanguard Portfolio Management LLCInstitution | 8.87% | 5.59M | as of Jun 30, 2026 |
AllianceBernstein L.P.Institution | 5.16% | 3.25M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.63% | 2.92M | as of Jun 30, 2026 |
- Carl Russo's transaction reports restate only vehicles that traded; the 2022 ownership statement (6.90M) plus the 115.3K net shares acquired since is used instead.
Insider tradesForm 4
Nothing filed in the last 12 months.
- ADTRAN
Fiber access hardware and Mosaic SaaS rival targeting the same US regional ISPs
- Nokia (ADR)
Fiber OLT and cloud platform rival with #1 XGS-PON share and rural ISP programs
- Harmonic
Virtualized broadband platform (cOS) rivaling Calix's AXOS for fiber/DOCSIS ISPs
- Vistance Networks
PON access, HFC, and cloud Wi-Fi vendor targeting cable MSOs and fiber ISPs
- Ciena
XGS-PON micro-OLT entrant targeting BEAD-funded rural fiber ISPs and co-ops
- Ubiquiti
Low-cost UISP/UFiber ISP platform rivals Calix's cloud-managed CPE stack
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Calix | $35.15 | 0.00% | $2.23B | 46.0 | 18.4 | 2.0 | +21.3% |
| ADTRAN | $7.29 | −0.14% | $584.0M | — | 20.5 | 0.5 | +6.1% |
| Nokia (ADR) | $10.77 | −0.65% | $59.11B | 77.4 | 25.7 | 2.5 | +2.3% |
| Harmonic | $11.29 | −0.04% | $1.23B | — | 16.7 | 2.5 | −3.3% |
| Vistance Networks | $6.47 | −0.15% | $1.46B | 7.0 | 9.3 | 0.5 | −77.0% |
| Ciena | $366.50 | −0.52% | $51.80B | 81.7 | 35.6 | 8.6 | +37.0% |
| Ubiquiti | $580.88 | −0.06% | $35.48B | 37.0 | 32.8 | 10.8 | +23.5% |
| Median | 57.2 | 23.1 | 2.5 | +4.2% |