CALX - Calix Non-GAAP EPS of $0.45 beats by $0.09 revenue of $263.84M beats by $2.3M

2023-10-23 16:11:56 ET

• Calix press release ( NYSE: CALX ): Q3 Non-GAAP EPS of $0.45 beats by $0.09 .
• Revenue of $263.84M (+11.7% Y/Y) beats by $2.3M .
• Q4 Outlook: Our revenue guidance for the fourth quarter of 2023, at the midpoint, is for revenue to increase slightly compared with the prior quarter as we experience continued demand for our platform and managed services. When using the midpoint of the fourth quarter 2023 guidance, it would result in 2023 revenue increasing 20% from 2022, representing our fourth consecutive year of 20% or higher revenue growth.
• Our non-GAAP gross margin guidance for the fourth quarter of 2023, at the midpoint, represents an increase of 20 basis points compared with the prior quarter. When using the midpoint of the gross margin outlook for the fourth quarter of 2023, annual gross margin for fiscal 2023 would be approximately 53.1%, an increase of 240 basis points from fiscal 2022.
• Our non-GAAP operating expense guidance for the fourth quarter of 2023 includes the additional expenses associated with our annual ConneXions event held last week. It also reflects our continued commitment to invest fully to our target model to address the opportunity in front of us.
• We expect our non-GAAP effective income tax rate in the fourth quarter will decline slightly to a range of 22.5% to 23.5%.
• Shares -1.6% .

For further details see: