Calix Delivers Record Revenue in Q1 2026, Driven by Strong Demand and AI-Powered Growth Strategy
Calix, a leading provider of cloud-based software platforms for the telecommunications industry, has reported record revenue for its first quarter (Q1) 2026, driven by strong demand from customers and the successful execution of its growth strategy.
In a conference call with investors and analysts on April 21, 2026, Michael Weening, President and CEO of Calix, highlighted the company's achievements in Q1 2026. "It was another incredible execution quarter for the Calix team," he said. "Record revenue, with strong demand continuing into 2026 with customers."
Calix achieved record revenue of $280 million in Q1 2026, marking a sequential increase of 3% driven by continued strong demand for its platform. The company welcomed 14 new customers during the quarter, reinforcing its efforts to grow its customer base and support their expansion within local communities.
"The impact of AI will now start contributing to our customers' success by helping them transform their operations, allowing their teams to add capacity and capability with AI, and accelerate experiences that they need to differentiate in the markets they serve," said Weening. "Today's call is focused on the quarter and our 2026 outlook."
Cory Sindelar, Chief Financial Officer of Calix, provided additional details on the company's financial performance. "We delivered yet another quarter of record revenue of $280 million, marking a sequential increase of 3%, driven by continued strong demand for our platform," he said.
"Remainders" - or current RPOs - were a record $157 million in Q1 2026, representing a 3% sequential increase and a 22% rise from the same period last year. Calix anticipates that RPOs will re-accelerate in the second half of 2026 as it gains momentum with its AI-powered growth strategy.
Calix's non-GAAP gross margin was 57.2% in Q1 2026, down 80 basis points sequentially due to investment in dual cloud environments. However, compared to last year, non-GAAP gross margin increased by 100 basis points. The company's balance sheet remains strong, with DSO at the end of the first quarter being 36 days and inventory turns remaining steady at three.
Calix also generated free cash flow in Q1 2026 of $7 million and invested $171 million to buy back shares of its common stock at an average price of $51.34, further demonstrating its commitment to creating lasting value for shareholders.
