Calix (CALX-1.10%) stock is sinking Tuesday. The telecom software specialist's share price was down by 21.7% as of 12:30 p.m. ET, according to data from S&P Global Market Intelligence.

Calix increased its cash position by 4.4% (QoQ) to $234.7 million. Total current assets rose 16.14% (QoQ) to $535.2 million against a 37.6% (QoQ) increase in current liabilities.

Calix’s revenue guidance for Q2 is $221-227 million, resulting in ~2% yoy growth. Non-GAAP gross margin is expected to be 55.25-57.25%, slightly increasing on a yoy basis.

Calix (CALX) delivered earnings and revenue surprises of 5% and 0.74%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

Calix (NYSE: CALX) stock is sinking Tuesday. The telecom software specialist's share price was down by 21.7% as of 12:30 p.m. ET, according to data from S&P Global Market Intelligence.

Calix should be applauded for allowing a service provider to do what it does best: offer home network security solutions that eliminate angst and promote end-user safety.