Calix (CALX)
Market Price (4/30/2026): $41.66 | Market Cap: $2.7 BilSector: Information Technology | Industry: Application Software
Calix (CALX)
Market Price (4/30/2026): $41.66Market Cap: $2.7 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -27% Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Cloud Computing. Themes include Network Equipment, Telecom Infrastructure, Show more. | Weak multi-year price returns3Y Excs Rtn is -87% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 69x, P/EPrice/Earnings or Price/(Net Income) is 81x Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0% Key risksCALX key risks include [1] its dependency on cyclical and uncommitted capital spending by broadband service providers and [2] the execution risk of its pivotal transition to a software and platform business, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 28% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -27% |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Cloud Computing. Themes include Network Equipment, Telecom Infrastructure, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -87% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 69x, P/EPrice/Earnings or Price/(Net Income) is 81x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0% |
| Key risksCALX key risks include [1] its dependency on cyclical and uncommitted capital spending by broadband service providers and [2] the execution risk of its pivotal transition to a software and platform business, Show more. |
Qualitative Assessment
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Calix (CALX) stock has lost about 20% since 12/31/2025 because of the following key factors:
1. Multiple analyst downgrades and price target reductions. Northland Securities downgraded Calix from an "outperform" to a "market perform" rating on April 22, 2026, concurrently lowering its price target to $52.00 from $75.00. This downgrade was largely attributed to concerns over gross margin pressure. Additionally, Zacks Research lowered Calix from a "hold" to a "strong sell" rating on April 16, and JPMorgan reduced its price target to $65 from $70 following the Q1 report, citing that higher revenue was being offset by memory cost pressure leading to weaker earnings.
2. Anticipated gross margin compression due to higher memory costs. Calix's management forecasts a decline of 50 to 150 basis points in non-GAAP gross margins for 2026. This projected decrease is primarily driven by escalating memory component costs, with a new memory surcharge contributing an estimated 200 basis points headwind as the revenue generated from these surcharges carries zero margin. This outlook on margin pressure was a key factor in recent analyst downgrades.
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1. Multiple analyst downgrades and price target reductions. Northland Securities downgraded Calix from an "outperform" to a "market perform" rating on April 22, 2026, concurrently lowering its price target to $52.00 from $75.00. This downgrade was largely attributed to concerns over gross margin pressure. Additionally, Zacks Research lowered Calix from a "hold" to a "strong sell" rating on April 16, and JPMorgan reduced its price target to $65 from $70 following the Q1 report, citing that higher revenue was being offset by memory cost pressure leading to weaker earnings.
2. Anticipated gross margin compression due to higher memory costs. Calix's management forecasts a decline of 50 to 150 basis points in non-GAAP gross margins for 2026. This projected decrease is primarily driven by escalating memory component costs, with a new memory surcharge contributing an estimated 200 basis points headwind as the revenue generated from these surcharges carries zero margin. This outlook on margin pressure was a key factor in recent analyst downgrades.
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Stock Movement Drivers
Fundamental Drivers
The -21.3% change in CALX stock from 12/31/2025 to 4/29/2026 was primarily driven by a -30.7% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.93 | 41.68 | -21.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 934 | 1,060 | 13.5% |
| P/S Multiple | 3.7 | 2.6 | -30.7% |
| Shares Outstanding (Mil) | 66 | 66 | 0.1% |
| Cumulative Contribution | -21.3% |
Market Drivers
12/31/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| CALX | -21.3% | |
| Market (SPY) | 5.2% | 19.5% |
| Sector (XLK) | 10.7% | 18.1% |
Fundamental Drivers
The -32.1% change in CALX stock from 9/30/2025 to 4/29/2026 was primarily driven by a -43.3% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.37 | 41.68 | -32.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 869 | 1,060 | 21.9% |
| P/S Multiple | 4.6 | 2.6 | -43.3% |
| Shares Outstanding (Mil) | 65 | 66 | -1.8% |
| Cumulative Contribution | -32.1% |
Market Drivers
9/30/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| CALX | -32.1% | |
| Market (SPY) | 8.0% | 26.2% |
| Sector (XLK) | 13.2% | 27.5% |
Fundamental Drivers
The 17.6% change in CALX stock from 3/31/2025 to 4/29/2026 was primarily driven by a 27.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.44 | 41.68 | 17.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 832 | 1,060 | 27.4% |
| P/S Multiple | 2.8 | 2.6 | -8.7% |
| Shares Outstanding (Mil) | 66 | 66 | 1.1% |
| Cumulative Contribution | 17.6% |
Market Drivers
3/31/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| CALX | 17.6% | |
| Market (SPY) | 29.3% | 47.8% |
| Sector (XLK) | 55.0% | 47.1% |
Fundamental Drivers
The -22.2% change in CALX stock from 3/31/2023 to 4/29/2026 was primarily driven by a -32.3% change in the company's Net Income Margin (%).| (LTM values as of) | 3312023 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 53.59 | 41.68 | -22.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 868 | 1,060 | 22.1% |
| Net Income Margin (%) | 4.7% | 3.2% | -32.3% |
| P/E Multiple | 85.7 | 80.8 | -5.7% |
| Shares Outstanding (Mil) | 66 | 66 | -0.2% |
| Cumulative Contribution | -22.2% |
Market Drivers
3/31/2023 to 4/29/2026| Return | Correlation | |
|---|---|---|
| CALX | -22.2% | |
| Market (SPY) | 81.5% | 41.7% |
| Sector (XLK) | 115.1% | 39.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CALX Return | 169% | -14% | -36% | -20% | 52% | -21% | 41% |
| Peers Return | 34% | -19% | -12% | 34% | 32% | 39% | 133% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 90% |
Monthly Win Rates [3] | |||||||
| CALX Win Rate | 75% | 42% | 50% | 42% | 67% | 25% | |
| Peers Win Rate | 58% | 37% | 48% | 63% | 62% | 70% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CALX Max Drawdown | -2% | -60% | -52% | -37% | -16% | -21% | |
| Peers Max Drawdown | -8% | -36% | -32% | -19% | -26% | -10% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ADTN, CIEN, CSCO, HLIT, RBBN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/29/2026 (YTD)
How Low Can It Go
| Event | CALX | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -59.6% | -25.4% |
| % Gain to Breakeven | 147.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -44.1% | -33.9% |
| % Gain to Breakeven | 78.7% | 51.3% |
| Time to Breakeven | 37 days | 148 days |
| 2018 Correction | ||
| % Loss | -49.1% | -19.8% |
| % Gain to Breakeven | 96.6% | 24.7% |
| Time to Breakeven | 258 days | 120 days |
Compare to ADTN, CIEN, CSCO, HLIT, RBBN
In The Past
Calix's stock fell -59.6% during the 2022 Inflation Shock from a high on 12/31/2021. A -59.6% loss requires a 147.4% gain to breakeven.
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About Calix (CALX)
Calix, Inc., together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services. It provides Calix Cloud platform, a role-based analytics platform comprising Calix Marketing Cloud, Calix Support Cloud, and Calix Operations Cloud, which are configurable to display role-based insights and enable BSPs to anticipate and target new revenue-generating services and applications through mobile application. The company also offers EXOS, a carrier class premises operating system and fully integrated with its GigaSpire family of systems to be ready for deployment as a complete subscriber experience solutions for BSP's residential and business subscribers; and AXOS, a software platform to access edge of the network by its architecture and operations. It offers its products through its direct sales force and resellers. Calix, Inc. was incorporated in 1999 and is headquartered in San Jose, California.
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Cisco for internet service providers (ISPs)
Salesforce for internet service providers (ISPs)
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Major Products and Services of Calix (CALX):
- Calix Cloud platform: A role-based analytics platform comprising Calix Marketing Cloud, Calix Support Cloud, and Calix Operations Cloud, which helps broadband service providers anticipate and target new revenue-generating services.
- EXOS: A carrier-class premises operating system integrated with the GigaSpire family of systems, designed to provide complete subscriber experience solutions for residential and business customers.
- AXOS: A software platform engineered to access the edge of the network through its architecture and operations.
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Calix, Inc. (CALX) primarily sells its cloud and software platforms, systems, and services to other companies, specifically Broadband Service Providers (BSPs).
The provided background information does not list the specific names of these customer companies.
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- Flex Ltd. (FLEX)
- Pegatron Corporation (4938.TW)
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Michael Weening, President and Chief Executive Officer
Michael Weening has an extensive background in software, cloud, and telecom, with over 20 years of experience in growth, strategy, and transformation. He joined Calix in June 2016 and was promoted to President and CEO in October 2022. Prior to Calix, he held senior leadership roles at Salesforce, including senior vice president of global customer success and senior vice president of customer success, services, and alliances for Japan and Asia-Pacific. Earlier in his career, he held sales leadership positions at Microsoft in both Canada and the United Kingdom, and was vice president of business and consumer sales at Bell Mobility in Canada. Weening has been instrumental in Calix's transformation from a hardware-centric business to a company focused on software, cloud, and appliances.
Cory Sindelar, Chief Financial Officer
Cory Sindelar joined Calix as Chief Financial Officer in May 2017, bringing more than 25 years of experience as a senior financial leader in the technology sector. Prior to Calix, he served as Chief Financial Officer at Violin Memory, where he helped transition the company from a privately held entity to a public, multi-national technology leader. He also previously held the CFO role at Ikanos Communications, where he led several strategic transactions. Earlier in his career, Sindelar held various finance positions at EMC Corporation and was vice president, corporate controller, and principal accounting officer at Legato Systems, Inc., which was later acquired by EMC.
Mark Dressler, Chief Revenue Officer
Mark Dressler is the Chief Revenue Officer for Calix, with 30 years of experience in the communications service provider industry.
John Durocher, Chief Operations Officer
John Durocher leads the Calix Customer Success organization as Chief Operations Officer.
Shane Eleniak, Chief Product Officer
Shane Eleniak is the Chief Product Officer at Calix, responsible for all of Calix's products, including access solutions.
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```htmlKey Risks to Calix (CALX)
- Intense Competition: Calix operates in a highly competitive market characterized by rapid technological advancements and evolving customer demands. The company faces the constant threat of competitors with greater resources or more aggressive pricing strategies, which could lead to reduced market share and financial results if Calix cannot maintain its innovative edge and meet the changing needs of broadband service providers.
- Supply Chain Dependencies: Calix relies significantly on third-party vendors and contract manufacturers for sourcing components, producing its products, and managing global logistics. This dependence introduces vulnerabilities, as any significant interruption in the supply chain, such as component shortages or disruptions in delivery, could adversely affect Calix's ability to fulfill customer orders, potentially leading to lost revenue, increased costs, and negative impacts on gross margins and operating results.
- Macroeconomic Conditions and Customer Capital Expenditure: Calix's revenue is heavily influenced by the capital expenditure (CapEx) decisions of its broadband service provider customers, particularly smaller, rural, and municipal providers. Adverse macroeconomic conditions, such as sustained high interest rates, can increase borrowing costs for these customers, potentially forcing them to defer or scale back network buildouts, which directly impacts Calix's sales and revenue.
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Calix (CALX) operates within the global broadband services and cloud computing markets, providing cloud and software platforms, systems, and services to broadband service providers (BSPs).
Addressable Markets for Calix's Main Products or Services
- Calix Cloud Platform: The global cloud communication platform market, which includes solutions like the Calix Cloud platform, was valued at approximately USD 23.47 billion in 2026 and is projected to reach USD 45.63 billion by 2031, growing at a Compound Annual Growth Rate (CAGR) of 14.22%. More broadly, the global cloud computing market, which encompasses Calix's cloud offerings, was estimated at USD 752.44 billion in 2024 and is projected to reach USD 2.39 trillion by 2030, demonstrating a CAGR of 20.4% from 2025 to 2030.
- EXOS and AXOS Platforms: These platforms support broadband access and network infrastructure for service providers. The global broadband services market, which these platforms enable, was valued at approximately USD 565.40 billion in 2025. It is projected to grow from USD 608.70 billion in 2026 to USD 1,151.43 billion by 2034, exhibiting a CAGR of 8.3% during this forecast period.
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Expected Drivers of Future Revenue Growth for Calix (CALX)
Over the next 2-3 years, Calix (CALX) is expected to drive revenue growth through several key initiatives:
- Increasing Adoption of Cloud and Managed Services: Calix's strategy focuses on the continued migration of broadband service providers (BSPs) to its higher-value cloud and managed services offerings. The company's record Remaining Performance Obligations (RPOs) demonstrate strong demand and contracted business, with existing customers increasingly adopting more of Calix's platform, cloud, and managed services. The recent launch of the third-generation Calix platform and its evolution for agentic AI on Google Cloud are anticipated to further accelerate this adoption.
- Customer Acquisition and Subscriber Growth: Calix is actively expanding its customer base by onboarding new broadband service providers. Furthermore, the company's solutions enable existing customers to attract and retain new subscribers, which directly contributes to Calix's revenue growth.
- Leveraging the Broadband Equity, Access, and Deployment (BEAD) Program: Calix anticipates a substantial revenue opportunity from the BEAD program, estimated to be between $1 billion and $1.5 billion. The company expects appliance deliveries related to this program to ramp up in late 2026 and significantly into 2027 and beyond, providing a considerable tailwind to its growth.
- Strategic Investment in AI and New AI-Driven Services: Calix has made significant investments in evolving its broadband platform to incorporate agentic AI capabilities on Google Cloud. These AI-driven advancements are designed to empower BSPs to automate workflows, deliver personalized subscriber experiences, and unlock new revenue streams, thereby fueling future growth.
- International Expansion and Targeting Larger Customers: The partnership with Google Cloud is enabling Calix to deploy its platform globally and effectively target larger customers with private cloud solutions. Management has indicated confidence in expanding into new accounts and international markets as a key growth strategy.
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Share Repurchases
- In January 2026, Calix's board of directors authorized an additional $125 million for its existing stock repurchase program. This increased the total available repurchase funds to $234.3 million, combining the new authorization with the $109.3 million remaining at the end of the fourth quarter of 2025.
- In the fourth quarter of 2025, Calix deployed $17 million to purchase 300,000 shares of its common stock.
- For the full fiscal year 2025, Calix spent $93.6 million on share buybacks, following expenditures of $10.7 million in 2024 and $86.4 million in 2023.
Share Issuance
- Calix's common stock issuances primarily related to employee benefit plans, with proceeds totaling $65.2 million in 2025.
- Proceeds from common stock issuances for employee benefit plans were $31.6 million in 2024.
- In 2023, the company generated $32.1 million from common stock issuances related to employee benefit plans.
Capital Expenditures
- In the fourth quarter of 2025, Calix invested $5.8 million in capital expenditures.
- Annual capital expenditures were $19.4 million in 2025, $18.1 million in 2024, and $17.9 million in 2023.
- Capital expenditures are primarily focused on funding long-term assets and infrastructure, with anticipated increases in operating expenses for Q1 2026 driven by investments in AI functionality and capabilities across its platform, cloud, and managed services.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Calix Stock In Shambles: Down 13% With 7-Day Losing Streak | 04/03/2026 | |
| Calix Stock In Shambles: Down 12% With 6-Day Losing Streak | 04/02/2026 | |
| Calix Earnings Notes | 12/29/2026 | |
| How Low Can Calix Stock Really Go? | 10/17/2025 | |
| How Does Calix Stock Stack Up Against Its Peers? | 08/13/2025 | |
| Why Calix Stock Moved: CALX Stock Has Gained 57% Since 2024 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S) | 08/08/2025 | |
| CALX Dip Buy Analysis | 07/10/2025 | |
| Calix (CALX) Valuation Ratios Comparison | 05/15/2025 | |
| ARTICLES | ||
| 7-Day Sell-Off Sends Calix Stock Down -13% | 04/03/2026 | |
| Small Cap Stocks Trading At 52-Week High | 09/11/2025 |
Trade Ideas
Select ideas related to CALX.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | PANW | Palo Alto Networks | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03312026 | ALKT | Alkami Technology | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03272026 | DBX | Dropbox | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 2.6% | 2.6% | 0.0% |
| 03272026 | DLB | Dolby Laboratories | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 03272026 | PTC | PTC | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
Research & Analysis
Invest in Strategies
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 29.23 |
| Mkt Cap | 2.0 |
| Rev LTM | 1,072 |
| Op Inc LTM | 30 |
| FCF LTM | 103 |
| FCF 3Y Avg | 59 |
| CFO LTM | 131 |
| CFO 3Y Avg | 76 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.2% |
| Rev Chg 3Y Avg | 3.5% |
| Rev Chg Q | 14.9% |
| QoQ Delta Rev Chg LTM | 3.5% |
| Op Inc Chg LTM | 53.0% |
| Op Inc Chg 3Y Avg | 13.0% |
| Op Mgn LTM | 4.2% |
| Op Mgn 3Y Avg | 4.5% |
| QoQ Delta Op Mgn LTM | 1.2% |
| CFO/Rev LTM | 15.3% |
| CFO/Rev 3Y Avg | 11.7% |
| FCF/Rev LTM | 12.4% |
| FCF/Rev 3Y Avg | 9.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.0 |
| P/S | 2.9 |
| P/Op Inc | 46.9 |
| P/EBIT | 46.6 |
| P/E | 21.3 |
| P/CFO | 15.7 |
| Total Yield | 0.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.7% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 16.4% |
| 3M Rtn | 8.4% |
| 6M Rtn | 13.2% |
| 12M Rtn | 34.6% |
| 3Y Rtn | 40.4% |
| 1M Excs Rtn | 3.9% |
| 3M Excs Rtn | 6.2% |
| 6M Excs Rtn | 8.9% |
| 12M Excs Rtn | 7.0% |
| 3Y Excs Rtn | -33.5% |
Price Behavior
Price Behavior
| Market Price | $41.68 | |
| Market Cap ($ Bil) | 2.8 | |
| First Trading Date | 03/24/2010 | |
| Distance from 52W High | -39.1% | |
| 50 Days | 200 Days | |
| DMA Price | $49.87 | $55.43 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -16.4% | -24.8% |
| 3M | 1YR | |
| Volatility | 54.1% | 37.8% |
| Downside Capture | 1.15 | 0.86 |
| Upside Capture | 54.47 | 111.83 |
| Correlation (SPY) | 18.7% | 31.7% |
CALX Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.58 | 1.33 | 1.23 | 1.16 | 1.14 | 1.24 |
| Up Beta | 0.94 | 1.23 | 0.55 | 0.91 | 1.18 | 1.06 |
| Down Beta | 1.47 | 1.08 | -0.12 | 0.39 | 0.81 | 0.97 |
| Up Capture | 269% | 240% | 253% | 150% | 190% | 263% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 21 | 31 | 60 | 135 | 384 |
| Down Capture | 122% | 83% | 167% | 155% | 116% | 110% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 21 | 32 | 65 | 114 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CALX | |
|---|---|---|---|---|
| CALX | 3.1% | 37.8% | 0.16 | - |
| Sector ETF (XLK) | 54.0% | 20.4% | 2.01 | 33.0% |
| Equity (SPY) | 31.5% | 12.5% | 1.93 | 32.0% |
| Gold (GLD) | 35.2% | 27.2% | 1.09 | 10.6% |
| Commodities (DBC) | 46.7% | 18.1% | 1.99 | -10.3% |
| Real Estate (VNQ) | 12.8% | 13.4% | 0.65 | 19.2% |
| Bitcoin (BTCUSD) | -19.6% | 42.1% | -0.40 | 23.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CALX | |
|---|---|---|---|---|
| CALX | -1.0% | 49.7% | 0.16 | - |
| Sector ETF (XLK) | 18.7% | 24.8% | 0.67 | 48.5% |
| Equity (SPY) | 13.1% | 17.1% | 0.60 | 49.7% |
| Gold (GLD) | 20.1% | 17.8% | 0.92 | 8.8% |
| Commodities (DBC) | 14.6% | 19.1% | 0.63 | 9.2% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 39.0% |
| Bitcoin (BTCUSD) | 8.1% | 56.2% | 0.36 | 25.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CALX | |
|---|---|---|---|---|
| CALX | 20.0% | 51.4% | 0.56 | - |
| Sector ETF (XLK) | 23.1% | 24.4% | 0.86 | 43.7% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 44.5% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 7.2% |
| Commodities (DBC) | 9.6% | 17.7% | 0.45 | 13.1% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 34.0% |
| Bitcoin (BTCUSD) | 67.5% | 66.9% | 1.07 | 16.8% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/21/2026 | -14.0% | -15.2% | |
| 1/28/2026 | -11.9% | -5.0% | -2.2% |
| 10/29/2025 | 9.3% | 8.0% | -12.1% |
| 7/21/2025 | 3.1% | 5.1% | 5.0% |
| 4/21/2025 | 13.1% | 20.5% | 40.9% |
| 1/29/2025 | 9.0% | 14.4% | 0.4% |
| 10/28/2024 | -4.4% | -11.0% | -18.2% |
| 7/22/2024 | -6.3% | 6.4% | 0.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 13 | 13 |
| # Negative | 15 | 12 | 11 |
| Median Positive | 13.4% | 17.6% | 14.9% |
| Median Negative | -5.2% | -6.9% | -12.1% |
| Max Positive | 20.5% | 30.3% | 42.6% |
| Max Negative | -25.7% | -22.8% | -21.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/22/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/22/2025 | 10-Q |
| 03/31/2025 | 04/22/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/23/2024 | 10-Q |
| 03/31/2024 | 04/23/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 10/24/2023 | 10-Q |
| 06/30/2023 | 07/24/2023 | 10-Q |
| 03/31/2023 | 04/24/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 10/25/2022 | 10-Q |
| 06/30/2022 | 07/26/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Russo, Carl | See Footnote | Sell | 4282026 | 43.26 | 25,000 | 1,081,601 | 71,134,189 | Form | |
| 2 | Russo, Carl | See Footnote | Sell | 2042026 | 47.27 | 25,000 | 1,181,690 | 78,898,508 | Form | |
| 3 | Eleniak, Shane Todd Marshall | Chief Product Officer | Direct | Sell | 11122025 | 64.14 | 24,000 | Form | ||
| 4 | Sindelar, Cory | Chief Financial Officer | Direct | Sell | 11102025 | 65.30 | 50,000 | 3,264,935 | 4,998,942 | Form |
| 5 | Eleniak, Shane Todd Marshall | Chief Product Officer | Direct | Sell | 11062025 | 65.34 | 50,000 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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