CALIX, INCCALX

Calix One platform enables service providers to activate agentic-AI alongside human teams to acquire and retain subscribers.

“Through the AI-native Calix One platform, service providers can securely and privately activate agentic-AI alongside their human teams to acquire new subscribers, grow existing subscriber revenue, and build loyalty across residential, business, municipal, and MDU markets. More than 1,200 customers of all sizes leverage the Calix One platform, which has evolved over 15 years at an investment of more than $2 billion.”

Calix develops and sells platform cloud and managed services powered by agentic AI for CSPs.

“Calix, Inc. (together with its subsidiaries, “Calix,” “we,” “us,” or “our”) was incorporated in August 1999 and is a Delaware corporation. We develop, market and sell platform, cloud and managed services, which are powered by agentic AI, that enable communications service providers (“CSPs”) of all types and sizes to innovate and transform their businesses to focus on delivering an outstanding subscriber experience and become Communication Experience Providers (“CXPs”). The platform combines the Calix Agent Workforce™ with intelligent appliances, software, cloud and fully integrated SmartLife™ managed services to enable simplified business models that acquire, retain and grow subscribers and revenue. Calix Customer Success guides service providers through every stage of their transformation journey with expertise across technology, business and market insights. Our partner community extends innovation so customers can grow their businesses across markets at scale. With deep broadband expertise and an end-to-end approach from the datacenters’ access edge to every residential, business and municipal subscriber location, Calix enables any service provider to simplify operations, engagement and service; innovate for their subscribers; and grow value for members, investors and the communities they serve. This focus on subscriber experience allows CXPs to expand their brand through increased subscriber acquisition, loyalty and revenue while reducing their operating costs.”

Calix develops and sells platform cloud and managed services powered by agentic AI for CSPs.

“We develop, market and sell platform, cloud and managed services, which are powered by agentic AI, that enable communications service providers (“CSPs”) providers of all types and sizes to innovate and transform their businesses to focus on delivering outstanding subscriber experiences and become communication experience providers’ (“CXPs”). The platform combines the Calix Agent Workforce™ with intelligent appliances, software, cloud and fully integrated SmartLife™ managed services to enable simplified business models that acquire, retain and grow subscribers and revenue. Calix Customer Success guides service providers through every stage of their transformation journey with expertise across technology, business and market insights. Our partner community extends innovation so customers can grow their businesses across markets at scale. With deep broadband expertise and an end-to-end approach from the datacenters’ access edge to every residential, business and municipal subscriber location, Calix enables any service provider to simplify operations, engagement and service; innovate for their subscribers; and grow value for members, investors and the communities they serve. This focus on subscriber experience allows CXPs to expand their brand through increased subscriber acquisition, loyalty and revenue while reducing their operating costs.”

Calix notes early-stage agentic AI offerings face uncertain demand and adoption risks.

“We have platform, cloud and managed service offerings, including new AI-enabled “agentic” capabilities, which are early in their product life cycles and subject to uncertain market demand. If our customers are unwilling to adopt these new offerings, install our new products or deploy our new services, or if we are unable to achieve market acceptance of our products and platform, our business and financial results may be harmed. Moreover, adoption of our platform, cloud and managed service offerings is dependent upon the success of our customers in investing, marketing, selling and deploying broader services to their subscribers, and our ability to differentiate our products from competing or substitutive product and service offerings. For example, our SmartLife managed services include AI-driven managed Wi-Fi, network security, parental controls and an ecosystem of services from partners, including Arlo and Bark. However, if subscriber demand for such services does not grow as expected or declines, or our customers are unable or unwilling to invest in our platform to deploy and market these services, demand for our products may not grow at rates as we anticipate, negatively impacting our revenue and long-term growth.”

Calix uses AI technologies and is implementing agentic workflows in its platform.

“We use AI, machine learning, and automated decision-making technologies, including proprietary AI and machine learning algorithms and models (collectively, “AI Technologies”) throughout our business, and are making significant investments in this area. For example, with the implementation of our agentic workflows within our platform, we will aim to provide both our customer success team and CXP customers with advanced automated tools to augment their operations, accelerate transformation initiatives and expand their impact independent of traditional resource constraints.”

Calix warns of risks from evolving unproven market for agentic AI products and services.

“With respect to our products or services that incorporate AI Technologies, including agentic AI, the market for such products and services is rapidly evolving and unproven in many industries, including our own, and important assumptions about the characteristics of targeted markets, pricing, sales cycles, cost, performance, and perceived value associated with our services or products may be inaccurate. We cannot be sure that the market will continue to grow or that it will grow in ways we anticipate. In addition, market acceptance and consumer perceptions of products and services that incorporate AI Technologies is uncertain. Our failure to successfully develop and commercialize our products or services involving AI Technologies could depress the market price of our stock and impair our ability to: raise capital; expand our business; provide, improve and diversify our product offerings; continue our operations and efficiently manage our operating expenses; and respond effectively to competitive developments.”

Calix discusses product defects security vulnerabilities and liability risks including for agentic AI platform.

“Our products, including our platform (agentic AI, cloud, software and appliances) and SmartLife managed services, are highly technical and, when deployed, are critical to the operation of many networks. Our products have contained and are subject to defects, bugs or security vulnerabilities, which risks may be exacerbated as we continue to expand our cloud and software portfolio and include services from third-party partners. Some defects in our products may only be discovered after a product has been installed and used by customers and may in some cases only be detected under certain circumstances or after extended use. Any errors, bugs, defects or security vulnerabilities discovered in our products after commercial release could result in loss of revenue or delay in revenue recognition, loss of customers and increased service and warranty and retrofit costs, any of which could adversely affect our business, operating results and financial condition. In addition, we are subject to claims for security and data breach, product liability, tort or breach of warranty. Our contracts with customers contain provisions relating to warranty disclaimers and liability limitations, which may not be upheld. Defending a lawsuit, regardless of its merit, is costly and may divert management’s attention and adversely affect the market’s perception of us and our products. In addition, if our business liability insurance coverage proves inadequate or future coverage is unavailable on acceptable”

Calix reports software revenue growth from customers using agentic workflows on Calix One platform.

“We delivered record revenue of $293.3 million in the second quarter of 2026 representing 5% sequential growth and 21% year-over-year growth. Software and service revenue grew to a record $50.5 million, up 7% sequentially and 16% year-over-year, as customers embraced the opportunity ahead with agentic workflows delivered on Calix One. With the completion of customer migrations to our AI-native platform last quarter, the current quarter delivered a return to strong software growth, improving operating efficiency and continued execution against the Calix model.”

Calix added customers and tripled Calix One contracts as providers adopt agentic capabilities.

“We added 14 new Service Provider customers during the quarter, and as an indicator of Calix Agent Workforce success, we tripled the number of Calix One contracts from the previous quarter. This demonstrates continued customer momentum and highlights Service Providers opting into agentic capabilities to extend the value of our appliances, software, cloud platform and managed services – helping them win new subscribers, reduce churn and grow revenue per subscriber. Remaining performance obligations (RPOs) were a record $386.4 million, up 3% sequentially and 11% year-over-year, reinforcing our visibility as customers continue transforming with our platform.”

VNET Fiber is investing in Calix Agent Workforce for agentic AI.

“• VNET Fiber is investing in agentic AI through Calix Agent Workforce to extend an 87 NPS advantage and expand into MDU with SmartMDU — building on 660% residential subscriber growth and a nearly 10% year-over-year average revenue per user (ARPU) gain with SmartHome.”

Calix expects RPO growth from delivering agentic workflows in 2026.

“ability to deliver agentic workflows occurred only after we migrated our customers to our third-generation platform and thus we expect RPO growth to accelerate in the second half of 2026 as we continue to deliver agentic workflows and demonstrate the value of Calix One and its ability to transform broadband businesses of all sizes and types.”

Over 1200 customers use Calix One platform with agentic-AI features.

“Through the AI-native Calix One platform, service providers can securely and privately activate agentic-AI alongside their human teams to acquire new subscribers, grow existing subscriber revenue, and build loyalty across residential, business, municipal, and MDU markets. More than 1,200 customers of all sizes leverage the Calix One platform, which has evolved over 15 years at an investment of more than $2 billion.”

Forward-looking statements include implementation of agentic AI.

“Statements made in this stockholder letter and the earnings call referencing the stockholder letter that are not statements of historical fact are forward-looking statements. Forward-looking statements are subject to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to, but are not limited to, impact from U.S. tariffs and trade policies (and uncertainty related to the enforceability thereof), potential customer or market opportunities, growth and future opportunities, customer demand or the sustainability of continued demand, anticipated customer purchase trends, anticipated government funding, programs and proposals, expected customer and product mix or anticipated adoption or deployment of our appliances, platform, cloud or managed services, implementation of agentic AI, industry, market and customer trends, opportunities with existing and prospective customers, the timing of BEAD shipments, free cash flow and liquidity, inventory levels, continuation of our stock repurchase program and future financial performance (including the outlook for the third quarter of 2026, full year and future periods and our Target Financial Model). Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to fluctuations in our financial and operating results, the capital spending decisions of our customers, U.S. tariffs”

Over 1200 customers use Calix One platform with agentic-AI features.

“Through the AI-native Calix One platform, service providers can securely and privately activate agentic-AI alongside their human teams to acquire new subscribers, grow existing subscriber revenue, and build loyalty across residential, business, municipal, and MDU markets. More than 1,200 customers of all sizes leverage the Calix One platform, which has evolved over 15 years at an investment of more than $2 billion.”

Calix develops and sells platform, cloud, and managed services powered by agentic AI for CSPs.

“Calix, Inc. (together with its subsidiaries, “Calix,” “we,” “us,” or “our”) was incorporated in August 1999 and is a Delaware corporation. We develop, market and sell platform, cloud and managed services, which are powered by agentic AI, that enable communications service providers (“CSPs”) of all types and sizes to innovate and transform their businesses to focus on delivering an outstanding subscriber experience and become Communication Experience Providers (“CXPs”). The platform combines the Calix Agent Workforce™ with intelligent appliances, software, cloud and fully integrated SmartLife™ managed services to enable simplified business models that acquire, retain and grow subscribers and revenue. Calix Customer Success guides service providers through every stage of their transformation journey with expertise across technology, business and market insights. Our partner community extends innovation so customers can grow their businesses across markets at scale. With deep broadband expertise and an end-to-end approach from the datacenters’ access edge to every residential, business and municipal subscriber location, Calix enables any service provider to simplify operations, engagement, and service; innovate for their subscribers; and grow value for members, investors, and the communities they serve. This focus on subscriber experience allows CXPs to expand their brand through increased subscriber acquisition, loyalty and revenue while reducing their operating costs.”

Calix develops and sells platform, cloud, and managed services powered by agentic AI for CSPs.

“We develop, market and sell platform, cloud and managed services, which are powered by agentic AI, that enable communication service providers (“CSPs”) providers of all types and sizes to innovate and transform their businesses to focus on delivering outstanding subscriber experiences and become communication experience providers’ (“CXPs”). The platform combines the Calix Agent Workforce™ with intelligent appliances, software, cloud and fully integrated SmartLife™ managed services to enable simplified business models that acquire, retain and grow subscribers and revenue. Calix Customer Success guides service providers through every stage of their transformation journey with expertise across technology, business and market insights. Our partner community extends innovation so customers can grow their businesses across markets at scale. With deep broadband expertise and an end-to-end approach from the datacenters’ access edge to every residential, business and municipal subscriber location, Calix enables any service provider to simplify operations, engagement and service; innovate for their subscribers; and grow value for members, investors and the communities they serve. This focus on subscriber experience allows CXPs to expand their brand through increased subscriber acquisition, loyalty and revenue while reducing their operating costs.”

Calix new agentic capabilities are early-stage with uncertain market demand that may harm results if not adopted.

“We have platform, cloud and managed service offerings, including new AI-enabled “agentic” capabilities, which are early in their product life cycles and subject to uncertain market demand. If our customers are unwilling to adopt these new offerings, install our new products or deploy our new services, or if we are unable to achieve market acceptance of our products and platform, our business and financial results may be harmed. Moreover, adoption of our platform, cloud and managed service offerings is dependent upon the success of our customers in investing, marketing, selling and deploying broader services to their subscribers, and our ability to differentiate our products from competing or substitutive product and service offerings. For example, our SmartLife managed services include AI-driven managed Wi-Fi, network security, parental controls and an ecosystem of services from partners, including Arlo and Bark. However, if subscriber demand for such services does not grow as expected or declines, or our customers are unable or unwilling to invest in our platform to deploy and market these services, demand for our products may not grow at rates as we anticipate, negatively impacting our revenue and long-term growth.”

Calix is implementing agentic workflows in its platform to provide automated tools for customers and staff.

“We use AI, machine learning, and automated decision-making technologies, including proprietary AI and machine learning algorithms and models (collectively, “AI Technologies”) throughout our business, and are making significant investments in this area. For example, with the implementation of our agentic workflows within our platform, we will aim to provide both our customer success team and CXP customers with advanced automated tools to augment their operations, accelerate transformation initiatives and expand their impact independent of traditional resource constraints.”

Calix notes the market for its agentic AI products is rapidly evolving, unproven, and based on uncertain assumptions.

“With respect to our products or services that incorporate AI Technologies, including agentic AI, the market for such products and services is rapidly evolving and unproven in many industries, including our own, and important assumptions about the characteristics of targeted markets, pricing, sales cycles, cost, performance, and perceived value associated with our services or products may be inaccurate. We cannot be sure that the market will continue to grow or that it will grow in ways we anticipate.”

Calix warns of defects, bugs, and security vulnerabilities in its agentic AI platform and services.

“Our products, including our platform (agentic AI, cloud, software and appliances) and SmartLife managed services, are highly technical and, when deployed, are critical to the operation of many networks. Our products have contained and are subject to defects, bugs or security vulnerabilities, which risks may be exacerbated as we continue to expand our cloud and software portfolio and include services from third-party partners. Some defects in our products may only be discovered after a product has been installed and used by customers and may in some cases only be detected under certain circumstances or after extended use. Any errors, bugs, defects or security vulnerabilities discovered in our products after commercial release could result in loss of revenue or delay in revenue recognition, loss of customers and increased service and warranty and retrofit costs, any of which could adversely affect our business, operating results and financial condition. In addition, we are subject to claims for security and data breach, product liability, tort or breach of warranty. Our contracts with customers contain provisions relating to warranty disclaimers and liability limitations, which may not be upheld. Defending a lawsuit, regardless of its merit, is costly and may divert management’s attention and adversely affect the market’s perception of us and our products. In addition, if our business liability insurance coverage proves inadequate or future coverage is unavailable on acceptable”

Calix One platform enables service providers to activate agentic-AI for subscriber growth and loyalty.

“Through the AI-native Calix One platform, service providers can securely and privately activate agentic-AI alongside their human teams to acquire new subscribers, grow existing subscriber revenue, and build loyalty across residential, business, municipal, and MDU markets. More than 1,200 customers of all sizes leverage the Calix One platform, which has evolved over 15 years at an investment of more than $2 billion.”

Calix expects accelerated RPO growth in H2 2026 from delivering agentic workflows on its platform.

“and up $28.3 million, or 22%, from the year-ago quarter. RPOs and current RPOs increased year-over-year due to strong demand for our cloud and managed services model. Our ability to deliver agentic workflows occurred only after customers migrated to our third-generations platform. As such, we expect the growth in RPOs will accelerate in the second half of 2026 as we begin to deliver agentic workflows and demonstrate the value of Calix One and its ability to transform broadband businesses.”

Calix increased operating expenses primarily from investments in its agentic platform and Agent Workforce cloud.

“primarily to investments in our agentic platform. Compared with the year ago quarter, GAAP operating expenses increased by $17.8 million and non-GAAP operating expenses increased by $17.1 million primarily related to increased investments in platform innovation. Non-GAAP sales and marketing investments were 20% of revenue, which was in-line with our Target Financial Model range of 18% to 20%. Non-GAAP research and development investments were 30% of gross profit, which is above our Target Financial Model of 29% as we invest in Agent Workforce cloud. Non-GAAP general and administrative investments were 8% of revenue, which is above our Target Financial Model of 7% and was the result of a leadership meeting in January 2026.”

Calix One platform enables service providers to activate agentic-AI for subscriber growth and loyalty.

“Through the AI-native Calix One platform, service providers can securely and privately activate agentic-AI alongside their human teams to acquire new subscribers, grow existing subscriber revenue, and build loyalty across residential, business, municipal, and MDU markets. More than 1,200 customers of all sizes leverage the Calix One platform, which has evolved over 15 years at an investment of more than $2 billion.”

Forward-looking statements cite risks around implementing agentic AI across platform to scale teams.

“and proposals, expected customer and product mix or anticipated adoption or deployment of our appliances, platform, cloud or managed services, implementation of agentic AI, industry, market and customer trends, opportunities with existing and prospective customers, the timing of BEAD shipments, free cash flow and liquidity, continuation of our stock repurchase program and future financial performance (including the outlook for the second quarter of 2026, full year and future periods and performance against our Target Financial Model). Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to fluctuations in our financial and operating results, the capital spending decisions of our customers, U.S. tariffs, changes and disruptions in the market and industry, availability of capital in the market, potential for growth in our business driven by government funds, changes in and impacts of regulations and/or government sponsored programs, competition, our ability to achieve market acceptance of our appliances, platform, cloud or managed services, our ability to grow our customer base, our ability to implement agentic AI across our platform to scale our customer success team and our customers’ success, fluctuations in costs associated with our appliances and services including higher costs, dependence on third-parties for production and resource management associated with our”

Calix One platform enables service providers to activate agentic-AI for subscriber growth and loyalty.

“Through the AI-native Calix One platform, service providers can securely and privately activate agentic-AI alongside their human teams to acquire new subscribers, grow existing subscriber revenue, and build loyalty across residential, business, municipal, and MDU markets. More than 1,200 customers of all sizes leverage the Calix One platform, which has evolved over 15 years at an investment of more than $2 billion.”

Calix cites ability to develop agentic AI products as a risk factor.

“our ability to develop new products or enhancements such as agentic artificial intelligence (“AI”) that support technological advances and meet changing CXP requirements;”

Calix develops and sells platform and managed services powered by agentic AI for CSPs.

“Calix was founded in 1999. We develop, market and sell platform, cloud and managed services, which are powered by agentic AI, that enable communication service providers (“CSPs”) of all types and sizes to innovate and transform their businesses to focus on delivering outstanding subscriber experiences and become CXPs. The platform combines the Calix Agent Workforce™ with intelligent appliances, software, cloud and fully integrated SmartLife™ managed services to enable simplified business models that acquire, retain and grow subscribers and revenue. Calix Customer Success guides service providers through every stage of their transformation journey with expertise across technology, business and market insights. Our partner community extends innovation so customers can grow their businesses across markets at scale. With deep broadband expertise and an end-to-end approach from the datacenters’ access edge to every residential, business and municipal subscriber location, Calix enables any service provider to simplify operations, engagement, and service; innovate for their subscribers; and grow value for members, investors, and the communities they serve. This focus on subscriber experience allows CXPs to expand their brand through increased subscriber acquisition, loyalty and revenue while reducing their operating costs.”

Calix strategy positions its broadband platform including agentic AI to transform service provider networks.

“Our strategy is to position Calix as the key partner providing a broadband delivery platform (agentic AI, cloud, software and appliances) and managed services to enable and facilitate the transformation of service provider networks and the residential, community and business network experience in order to innovate for all of their subscribers. Most service providers will require transformation of their business and operations to become an essential provider of data-driven, high-value managed services to their subscribers. The principal elements of our strategy are:”

Calix strategy centers on continually augmenting its AI-enabled platform with AI agents and features.

“Build and evolve our platform – Our product strategy centers on our AI enabled strategic platform. Our platform simplifies CXPs’ businesses by delivering intelligence and automation across the entire subscriber facing network – from the data center edge to the subscriber’s connected devices. Our strategy is to continually augment and extend our platform with AI agents, features and services directly or through partners to allow our CXP customers to deliver cutting-edge services to their subscribers.”

Calix sells its agentic AI platform and managed services to approximately 1,600 service provider customers.

“We market and sell our platform (agentic AI, cloud, software and appliances) and managed services to service providers of all types and sizes. To date, we have focused primarily on service providers in the North American market. Our customers span all sizes of broadband subscriber count from a few subscribers to more than eleven million. We currently have approximately 1,600 active service provider customers, purchasing directly and through partners, to deploy passive optical, Active Ethernet or point-to-point Ethernet access networks or subscriber premise appliances. Our service provider customers include: ALLO Communications, LLC; Connect Holding II LLC (dba Brightspeed); CityFibre Holdings Limited; Conexon Connect, LLC; Cox Communications, Inc.; Gridiron Fiber Corp. (dba Lumos, a T-Mobile Fiber company); Hunter Communications; ICS Advanced Technologies; Jade Communications, LLC; Rally Networks; South Central Telephone Association, Inc.; Tombigbee Electric Power Association and Tombigbee Fiber, LLC and Verizon Communications Inc.”

Calix R&D team includes engineers with expertise in agentic AI and continues to invest in the technology.

“Continued investment in research and development is critical to our business. We have made significant investments in our product portfolio, and we intend to continue to dedicate significant resources to research and development to develop, enhance and deliver new platform features and capabilities, including investments in innovative technologies that support our business strategy. Our research and development team is composed of engineers with expertise in software and cloud platforms, agentic AI, optics, wireless technologies and systems engineering. Our research and development team is responsible for designing, developing and enhancing our platform, cloud and managed services, performing product and quality assurance testing and ensuring the compatibility of our products with third-party hardware and software products. Increasingly, our engineers are focused on enhancements to our cloud and software platform components. Our teams of engineers currently remain concentrated in San Jose and Petaluma, California; Nanjing, China; Bangalore, India; Minneapolis, Minnesota and Richardson, Texas. We also outsource a portion of our software and cloud development to domestic and international third parties and depend on these partners to meet our development plans.”

Calix describes its platform as delivering agentic AI cloud and appliances.

“Calix, Inc . (NYSE: CALX) — Calix delivers the industry’s leading agentic AI cloud and appliance-based platform, purpose-built over two decades with open standards and advanced security so service providers of all types and sizes can transform into experience providers. The platform combines agentic AI, intelligent appliances, and fully integrated managed services with Calix Success and a partner community to simplify operations, engagement, and service, innovate for their consumer, business, and municipal subscribers, and grow their value for members, investors and the communities they serve.”

Calix delivers its agentic AI cloud and appliance-based platform to service providers.

“Calix, Inc. (NYSE: CALX) — Calix delivers the industry’s leading agentic AI cloud and appliance-based platform, purpose-built over two decades with open standards and advanced security so service providers of all sizes can transform into experience providers. The platform combines agentic AI, intelligent appliances, and fully integrated managed services with Calix Customer Success and a partner community to simplify operations, engagement, and service, innovate for their consumer, business, and municipal subscribers, and grow their value for members, investors, and the communities they serve.”

Calix increases non-GAAP operating expenses from investments in agentic platform and team.

“Our GAAP and non-GAAP operating expenses for the fourth quarter of 2025 were $148.0 million and $126.8 million, representing 54% and 47% of revenue, respectively. Sequentially, GAAP operating expenses increased by $13.4 million due to increases in stock-based compensation of $1.4 million and non-GAAP operating expenses of $12.0 million. The sequential increase in non-GAAP operating expenses was due to investments in our annual ConneXions conference, our agentic platform and our team. Compared with the year ago quarter, both GAAP and non-GAAP operating expenses increased by $15.9 million primarily related to increased investments in sales headcount, incentive compensation and platform innovation. Non-GAAP sales and marketing investments were 22% of revenue, which was above our Target Financial Model range of 18% to 20%. Non-GAAP research and development investments were 30% of gross profit, which is above our Target Financial Model of 29%. Non-GAAP general and administrative investments were 7% of revenue, which is in line with our Target Financial Model of 7%.”

Calix delivers its agentic AI cloud and appliance-based platform to service providers.

“Calix, Inc. (NYSE: CALX) — Calix delivers the industry’s leading agentic AI cloud and appliance-based platform, purpose-built over two decades with open standards and advanced security so service providers of all types and sizes can transform into experience providers. The platform combines agentic AI, intelligent appliances, and fully integrated managed services with Calix Success and a partner community to simplify operations, engagement, and service, innovate for their consumer, business, and municipal subscribers, and grow their value for members, investors and the communities they serve.”

Calix lists implementation of agentic AI among forward-looking statements.

“Statements made in this stockholder letter and the earnings call referencing the stockholder letter that are not statements of historical fact are forward-looking statements. Forward-looking statements are subject to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to, but are not limited to, impact from U.S. tariffs and trade policies, potential customer or market opportunities, growth and future opportunities, customer demand or the sustainability of continued demand, anticipated customer purchase trends, anticipated government funding, programs and proposals, expected customer and product mix or anticipated adoption or deployment of our appliances, platform, cloud or managed services, implementation of agentic AI, industry, market and customer trends, opportunities with existing and prospective customers, the timing of BEAD shipments, free cash flow and liquidity, continuation of our stock repurchase program and future financial performance (including the outlook for the first quarter of 2026, full year and future periods and performance against our Target Financial Model). Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to fluctuations in our financial and operating results, the capital spending decisions of our customers, U.S. tariffs, changes and disruptions in the market and industry, ”

Calix delivers an agentic AI cloud and appliance-based platform for service providers.

“Calix, Inc . (NYSE: CALX) – Calix delivers the industry’s only agentic AI cloud and appliance-based platform, purpose-built over two decades with open standards and advanced security so service providers of all sizes can transform into experience providers. The platform combines agentic AI, intelligent appliances, and fully integrated managed services with Calix Success and a partner community to simplify operations, engagement, and service, innovate for their consumer, business, and municipal subscribers, and grow their value for members, investors, and the communities they serve.”

Calix uses AI technologies and is implementing platform-based agentic AI for customer success and BXP customers.

“We use artificial intelligence, or AI, machine learning, and automated decision-making technologies, including proprietary AI and machine learning algorithms and models (collectively, AI Technologies) throughout our business, and are making significant investments in this area. For example, with the implementation of our platform-based agentic AI, we will aim to provide both our customer success team and BXP customers with advanced automated tools to augment their operations, accelerate transformation initiatives, and expand their impact independent of traditional resource constraints.”

Calix notes the rapidly evolving and unproven market for products incorporating agentic AI.

“With respect to our products or services that incorporate AI Technologies, including agentic AI, the market for such products and services is rapidly evolving and unproven in many industries, including our own, and important assumptions about the”

Calix continues development of its third-generation platform for agentic AI.

“Continuing to Cross the Chasm with our Third-Generation Platform for Agentic AI”

Calix platform provides capabilities to automate with AI for agentic success.

“• Their investment in the Calix platform sets the foundation for agentic success , as Access Edge, Experience Edge and Calix cloud provide the crucial capabilities – network and subscriber data, knowledge, trust and orchestration – to automate end-to-end with AI.”

Calix agentic learnings enable internal enterprise to rapidly deploy AI improving operations.

“Last, our third-generation platform will expand our development capabilities and speed time to market, enabling Calix to expedite the expansion of our platform solutions and the transformation processes that our customers need. At the same time, our agentic learnings uniquely enable the internal Calix enterprise to rapidly deploy AI to further improve our operations.”

Calix will enable agentic AI for BXP customers and begin its internal transformation.

“As we close out 2025, we will enable the next level of transformation within our BXP customers through agentic AI and begin our internal transformation to evolve the way that we work to serve our customers while embracing new markets such as MDU, new sovereign geographies and new private platform customers for years to come.”

Calix offers an agentic AI cloud and appliance platform for service providers.

“Calix, Inc. (NYSE: CALX) — Calix delivers the industry’s only agentic AI cloud and appliance-based platform, purpose-built over two decades with open standards and advanced security so service providers of all sizes can transform into experience providers. The platform combines agentic AI, intelligent appliances, and fully integrated managed services with Calix Customer Success and a partner community to simplify operations, engagement, and service, innovate for their consumer, business, and municipal subscribers, and grow their value for members, investors, and the communities they serve.”

Forward-looking statements include anticipated implementation of agentic AI.

“Statements made in this stockholder letter and the earnings call referencing the stockholder letter that are not statements of historical fact are forward-looking statements. Forward-looking statements are subject to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to, but are not limited to, impact from U.S. tariffs and trade policies, potential customer or market opportunities, growth and future opportunities, customer demand or the sustainability of continued demand, anticipated customer purchase trends, anticipated government funding, programs and proposals, expected customer and product mix or anticipated adoption or deployment of our appliances, platform, cloud or managed services, implementation of agentic AI, industry, market and customer trends, opportunities with existing and prospective customers, the timing of BEAD shipments, free cash flow and liquidity, continuation of our stock repurchase program and future financial performance (including the outlook for the fourth quarter of 2025, full year and future periods and performance against our Target Financial Model). Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to fluctuations in our financial and operating results, the capital spending decisions of our customers, U.S. tariffs, changes and disruptions in the market and industry,”

Calix offers an agentic AI cloud and appliance platform for service providers.

“Calix, Inc. (NYSE: CALX) — Calix delivers the industry’s only agentic AI cloud and appliance-based platform, purpose-built over two decades with open standards and advanced security so service providers of all sizes can transform into experience providers. The platform combines agentic AI, intelligent appliances, and fully integrated managed services with Calix Customer Success and a partner community to simplify operations, engagement, and service, innovate for their consumer, business, and municipal subscribers, and grow their value for members, investors, and the communities they serve.”

Calix is implementing platform-based agentic AI to augment its customer success team and BXP customers.

“We use artificial intelligence, or AI, machine learning, and automated decision-making technologies, including proprietary AI and machine learning algorithms and models (collectively, AI Technologies) throughout our business, and are making significant investments in this area. For example, with the implementation of our platform-based agentic AI, we will aim to provide both our customer success team and BXP customers with advanced automated tools to augment their operations, accelerate transformation initiatives, and expand their impact independent of traditional resource constraints.”

Calix notes the market for products incorporating agentic AI is rapidly evolving and unproven.

“With respect to our products or services that incorporate AI Technology, including agentic AI, the market for such products and services is rapidly evolving and unproven in many industries, including our own, and important assumptions about the”

Calix is crossing the chasm with its third-generation agentic platform.

“Continuing to Cross the Chasm now with our Third-Generation Agentic Platform”

Calix plans to accelerate expansion of solutions through platform-based agentic AI.

“• Accelerate the expansion of Calix solutions through platform-based, agentic AI”

Calix will implement agentic AI across its platform to scale customer success and operations.

“The implementation of agentic AI across the Calix platform will significantly strengthen our ability to scale our customer success team and in turn, our BXP customers’ success. Agentic AI will provide both our customer success team and BXP customers with advanced automated tools to augment their operations, accelerate transformation initiatives and expand their impact independent of traditional resource constraints. In addition, our third-generation platform will further enhance our development capabilities, enabling us to expedite the expansion of our platform solutions and the transformation processes that our customers need.”

Calix will begin internal transformation embracing agentic AI in second half of 2025.

“As we step into the second half of 2025, not only will we enable the next level of transformation within our BXP customers through agentic AI, but we will begin our internal transformation to evolve the way that we work to serve our customers while embracing new markets such as MDU, new sovereign geographies and new customer segments for years to come.”

Forward-looking statements include implementation of agentic AI subject to risks.

“Statements made in this stockholder letter and the earnings call referencing the stockholder letter that are not statements of historical fact are forward-looking statements. Forward-looking statements are subject to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to, but are not limited to, impact from U.S. tariffs and trade policies, potential customer or market opportunities, growth and future opportunities, customer demand or the sustainability of continued demand, anticipated customer purchase trends, anticipated government funding, programs and proposals, expected customer and product mix or anticipated adoption or deployment of our appliances, platform, cloud or managed services, implementation of agentic AI, industry, market and customer trends, opportunities with existing and prospective customers, the timing of BEAD shipments, free cash flow and liquidity, continuation of our stock repurchase program and future financial performance (including the outlook for the third quarter of 2025, full year and future periods and performance against our Target Financial Model). Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to fluctuations in our financial and operating results, the capital spending decisions of our customers, U.S. tariffs, changes and disruptions in the market and industry, ”