CALX
Calix, Inc.

Calix, Inc.CALX

Technology · Software - Infrastructure
35.54USD
+0.71%
Oct 08, 2026
CALX overview ready
Fiber Access Systems and Cloud Platforms for Broadband Providers
Calix is a direct platform supplier to broadband service providers, combining fiber-access systems and premises equipment with cloud software, managed services, workflow automation, and AI-enabled subscriber and network operations.
Narrative is still early
Exposed to the Broadband Infrastructure Deployment and Service-Provider Modernization narrative through Fiber Access Networks and Broadband Operations Platforms —…
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of base repair.
The tactical setup reads base repair, but the weekly structure is broken.
Fair valuation
The price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Dependence on broadband service providers' capital expenditure cycles.
Market Oct 7Filing Jun 27Price action Oct 7Research Aug 18

Conviction Level

NarrativeHeat5.0ThemeHeat7.2PriceAction3.4Valuation4.1CompanyPosition7.3BusinessQuality6.0
Price
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Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of base repair.
The tactical setup reads base repair, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$2.2B
Avg Volume (60D)
955.3K
60 sessions
Revenue Growth YoY
+20.3%
FY2025 vs FY2024
Gross Margin
+56.6%
Trailing twelve months
Operating Margin
+5.5%
Trailing twelve months
Free Cash Flow Yield
+3.8%
Distance from 200DMA
-19.2%
Next Earnings
2026-11-02
P/E
43.7x
Market metrics as of Oct 7, 2026
Financial results for the period ended Jun 27, 2026
Filed balance-sheet data as of Jun 27, 2026

Fundamentals & Valuation

The available comparisons disagreed; the intrinsic comparison is the more reliable method for this business and the others are published as dissent.
Calix, Inc. has a Fair valuation stance because the price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced. It trades at a 3.8% free-cash-flow yield, broadly in line with what the business currently supports.

Company Research

Thesis
Calix is a direct platform supplier to broadband service providers, combining fiber-access systems and premises equipment with cloud software, managed services, workflow automation, and AI-enabled subscriber and network operations. The story is still emerging, so the exposure is real but early.
Opportunity
Moderate opportunity
Service-provider investment in fiber access buildouts, subscriber-premises connectivity, network automation, and cloud operations tools needed to deploy, operate, validate, and monetize next-generation broadband networks.
Key risk
Dependence on broadband service providers' capital expenditure cycles.

Narrative & Theme

Broadband Infrastructure Deployment and Service-Provider Modernization
Part of Fiber Access Networks and Broadband Operations Platforms, with strong fit.
CALX has a genuine, specific exposure to the US fiber-broadband deployment and provider-modernization cycle, particularly as BEAD-funded projects move from state approvals toward operator deployment.
Narrative HeatNeutral5.0 / 10
Theme HeatHeating up7.2 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Software - Infrastructure
What they do

Calix, Inc. provides cloud and software platforms, systems, and services that enable broadband service providers to deliver a range of broadband services across multiple global regions.

How it earns

The company primarily generates revenue through subscription-based software platforms and related services.

Products & services
Calix Engagement Cloud
Calix Operations Cloud
Calix Service Cloud
Customers & end markets
Broadband service providers
Telecommunications operators
Market position

Calix is a specialized provider focused on cloud software solutions for broadband service providers, positioning it as a niche player in the software infrastructure industry.

Demand drivers
Low cyclicality

Demand for broadband infrastructure and related software platforms tends to be stable and driven by ongoing connectivity needs rather than economic cycles.

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