Short answer
CALIX, INC (CALX) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $1.0B (+20.3% year over year) and net income of $18M.
- Top risk flagged: Regulatory/legal risk: AI and Cybersecurity Committee oversight newly expanded in 2025 to include AI risk management under Board governance
FY2025 key financial metrics · XBRL
- Revenue
- $1.0B
- +20.3% YoY
- Net income
- $18M
- +160.1% YoY
- Operating margin
- 2.1%
- +7.3 pp YoY
- Gross margin
- 56.8%
- +2.3 pp YoY
- EPS (diluted)
- $0.26
- +157.8% YoY
- ROE
- 2.1%
- +5.9 pp YoY
- Operating cash flow
- $135M
- +97.3% YoY
Source: XBRL data from the CALIX, INC (CALX) FY2025 10-K on SEC EDGAR. USD.
CALIX, INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: AI-powered platform, cloud, and managed services enabling communication service providers (CXPs) to transform and grow subscriber experiences
- New emphasis on agentic AI with Calix Agent Workforce integrating marketing, operations, support, and subscriber self-service roles
- Strategic focus on expanding SmartLife managed services portfolio including SmartHome, SmartTown, SmartBiz, and SmartMDU to diversify services and markets
- Employee count rose to 1,921 globally, including expanded engineering teams in the US, China, and India
- Noteworthy: Calix’s platform supports at least two fiber-to-the-home providers competing per market, emphasizing CXPs' choice between speed provider vs experience provider models
Management Discussion & Analysis
- $148.7M common stock repurchased in 2026 year-to-date, $109.3M stock repurchase authorization available as of Dec 31, 2025
- Board authorized $125.0M increase to stock repurchase program in January 2026
- Total contractual obligations $336.1M: $317.8M purchase commitments, $18.4M operating leases
- Management expects current cash, equivalents, and marketable securities sufficient for next 12 months’ needs
Risk Factors
- Regulatory/legal risk: AI and Cybersecurity Committee oversight newly expanded in 2025 to include AI risk management under Board governance
- Operational risk: Key-person dependency on Chief Operating Officer and Chief Product Officer for managing cybersecurity and AI risks
- Financial/structural risk: Loss of former Chief Commercial Operations Officer with pivotal cybersecurity governance role may impact risk management continuity
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