Calix Q2 revenue falls 24% to $198.1 million; GAAP net loss of $8.0 million
Calix reported second quarter 2024 results, with revenue of $198.1 million, down 24% from $261.0 million a year earlier and down 12% from the prior quarter. The company posted a GAAP net loss of $8.0 million, compared with GAAP net income of $9.4 million in the year-ago quarter, and guided third quarter revenue to $198.0 million to $204.0 million.
- Q2 2024 revenue was $198.1 million, down 24% year over year and 12% sequentially; Q2 2024 non-GAAP diluted EPS was $0.09, within the $0.03 to $0.09 guidance given April 22, 2024.
- GAAP net loss was $8.0 million, or $(0.12) per diluted share; non-GAAP net income was $6.1 million, versus $25.2 million a year earlier.
- Non-GAAP gross margin was a record 55.1%, and management expects gross margin to keep rising each quarter.
- Third quarter 2024 guidance calls for revenue of $198.0 million to $204.0 million and non-GAAP diluted EPS of $0.05 to $0.11.