NYSE : CALX
Calix, Inc. — Financial statements
Technology · Software - Infrastructure · United States
Last price 38.31 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.41B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Calix, Inc. (CALX) reported revenue of 1.11B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.11B | 1.00B | 831.52M | 1.04B | 867.83M | 679.39M |
| Cost of Revenue | 482.47M | 431.69M | 377.92M | 521.28M | 432.40M | 322.81M |
| Gross Profit | 628.73M | 568.32M | 453.59M | 518.32M | 435.43M | 356.59M |
| Selling, General & Admin | 359.50M | 356.97M | 316.76M | 314.96M | 250.82M | 181.69M |
| Research & Development | 207.99M | 190.36M | 179.87M | 177.77M | 131.99M | 101.75M |
| Operating Expenses | 567.49M | 547.33M | 496.63M | 492.73M | 382.82M | 283.44M |
| Operating Income | 61.24M | 20.99M | -43.03M | 25.59M | 52.61M | 73.15M |
| Interest Expense | -402.00K | |||||
| Interest & Investment Income | 12.00M | 13.43M | 12.34M | 9.70M | 2.01M | |
| Currency Exchange Gain (Loss) | -900.00K | -400.00K | ||||
| Other Non Operating Income (Expenses) | 217.00K | 144.00K | -955.00K | -532.00K | -577.00K | -882.00K |
| EBT Excluding Unusual Items | 72.56M | 34.17M | -31.65M | 34.76M | 54.04M | 71.87M |
| Merger & Restructuring Charges | 786.00K | |||||
| Pretax Income | 72.56M | 34.17M | -31.65M | 34.76M | 54.04M | 72.65M |
| Income Tax Expense | 21.37M | 16.28M | -1.90M | 5.43M | 13.03M | -165.72M |
| Net Income | 51.19M | 17.88M | -29.75M | 29.32M | 41.01M | 238.38M |
| Net Income to Common | 51.19M | 17.88M | -29.75M | 29.32M | 41.01M | 238.38M |
| Shares Outstanding (Basic) | 65.67M | 66.04M | 65.88M | 65.98M | 65.06M | 63.28M |
| Shares Outstanding (Diluted) | 70.12M | 69.31M | 65.88M | 69.32M | 68.91M | 67.86M |
| EPS (Basic) | 0.78 | 0.27 | -0.45 | 0.44 | 0.63 | 3.77 |
| EPS (Diluted) | 0.73 | 0.26 | -0.45 | 0.42 | 0.60 | 3.51 |
| Free Cash Flow | 85.42M | 115.52M | 50.35M | 38.40M | 13.12M | 46.33M |
| Free Cash Flow Per Share | 1.22 | 1.67 | 0.76 | 0.55 | 0.19 | 0.68 |
| Gross Margin | 56.58% | 56.83% | 54.55% | 49.86% | 50.18% | 52.49% |
| Operating Margin | 5.51% | 2.10% | -5.17% | 2.46% | 6.06% | 10.77% |
| Profit Margin | 4.61% | 1.79% | -3.58% | 2.82% | 4.73% | 35.09% |
| Free Cash Flow Margin | 7.69% | 11.55% | 6.05% | 3.69% | 1.51% | 6.82% |
| EBITDA | 79.13M | 38.70M | -23.48M | 42.22M | 66.92M | 88.16M |
| EBITDA Margin | 7.12% | 3.87% | -2.82% | 4.06% | 7.71% | 12.98% |
| D&A For EBITDA | 17.89M | 17.71M | 19.55M | 16.63M | 14.31M | 15.01M |
| EBIT | 61.24M | 20.99M | -43.03M | 25.59M | 52.61M | 73.15M |
| EBIT Margin | 5.51% | 2.10% | -5.17% | 2.46% | 6.06% | 10.77% |
| Effective Tax Rate | 29.45% | 47.66% | 15.63% | 24.12% | ||
| Revenue as Reported | 1.11B | 1.00B | 831.52M | 1.04B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 68.91M | 143.09M | 43.16M | 63.41M | 79.07M | 51.33M |
| Short-Term Investments | 125.39M | 245.02M | 253.93M | 156.94M | 162.64M | 153.00M |
| Cash & Short-Term Investments | 194.30M | 388.10M | 297.09M | 220.35M | 241.72M | 204.34M |
| Receivables | 136.40M | 99.37M | 79.32M | 126.03M | 93.80M | 85.22M |
| Inventory | 180.48M | 133.74M | 102.73M | 132.99M | 149.16M | 88.88M |
| Prepaid Expenses | 54.97M | 56.46M | 42.98M | 40.47M | 23.63M | 30.81M |
| Other Current Assets | 28.89M | 13.89M | 62.62M | 78.13M | 39.06M | |
| Total Current Assets | 595.04M | 691.55M | 584.74M | 597.96M | 547.37M | 409.25M |
| Property, Plant & Equipment | 50.51M | 52.48M | 37.37M | 38.72M | 35.12M | 33.97M |
| Goodwill | 116.17M | 116.17M | 116.17M | 116.17M | 116.17M | 116.17M |
| Other Intangible Assets | 6.88M | |||||
| Long-Term Deferred Tax Assets | 161.77M | 165.64M | 177.60M | 167.69M | 167.03M | 168.96M |
| Other Long-Term Assets | 30.91M | 32.68M | 23.39M | 21.32M | 19.14M | 6.80M |
| Total Assets | 954.40M | 1.06B | 939.27M | 941.87M | 884.84M | 742.03M |
| Accounts Payable | 92.74M | 41.52M | 20.23M | 34.75M | 41.41M | 29.06M |
| Accrued Expenses | 59.80M | 61.27M | 52.65M | 57.82M | 46.30M | 37.75M |
| Current Portion of Leases | 2.76M | 2.84M | 4.30M | 4.14M | 3.95M | 3.60M |
| Current Income Taxes Payable | 7.24M | 4.74M | 5.05M | 4.32M | 4.58M | 4.25M |
| Current Unearned Revenue | 36.47M | 30.39M | 26.75M | 36.67M | 33.54M | 27.48M |
| Other Current Liabilities | 11.25M | 22.49M | 22.17M | 49.95M | 35.65M | 26.00M |
| Total Current Liabilities | 210.26M | 163.25M | 131.14M | 187.64M | 165.42M | 128.14M |
| Long-Term Leases | 11.22M | 12.76M | 3.72M | 7.42M | 8.44M | 12.38M |
| Long-Term Unearned Revenue | 19.55M | 19.89M | 20.88M | 24.86M | 25.07M | 22.02M |
| Other Long-Term Liabilities | 3.35M | 3.41M | 2.58M | 2.96M | 6.33M | 11.08M |
| Total Liabilities | 244.38M | 199.30M | 158.33M | 222.88M | 205.27M | 173.60M |
| Common Stock | 1.57M | 1.68M | 1.66M | 1.63M | 1.64M | 1.61M |
| Additional Paid-In Capital | 1.05B | 1.23B | 1.17B | 1.08B | 1.07B | 997.86M |
| Retained Earnings | -343.92M | -372.24M | -390.13M | -360.38M | -389.70M | -430.71M |
| Comprehensive Income & Other | -1.02M | -408.00K | -612.00K | -659.00K | -2.47M | -320.00K |
| Shareholders' Equity | 710.02M | 859.22M | 780.94M | 718.98M | 679.57M | 568.43M |
| Total Liabilities & Equity | 954.40M | 1.06B | 939.27M | 941.87M | 884.84M | 742.03M |
| Total Debt | 13.98M | 15.59M | 8.02M | 11.56M | 12.39M | 15.97M |
| Net Cash (Debt) | 180.32M | 372.51M | 289.07M | 208.78M | 229.32M | 188.36M |
| Net Cash Per Share | 2.57 | 5.37 | 4.39 | 3.01 | 3.33 | 2.78 |
| Filing Date Shares Outstanding | 62.96M | 65.61M | 66.69M | 65.41M | 66.14M | 64.44M |
| Total Common Shares Outstanding | 62.96M | 67.12M | 66.43M | 65.05M | 65.73M | 64.27M |
| Working Capital | 384.78M | 528.30M | 453.59M | 410.31M | 381.95M | 281.11M |
| Book Value Per Share | 11.28 | 12.80 | 11.76 | 11.05 | 10.34 | 8.84 |
| Tangible Book Value | 593.85M | 743.04M | 664.76M | 602.81M | 563.39M | 445.37M |
| Tangible Book Value Per Share | 9.43 | 11.07 | 10.01 | 9.27 | 8.57 | 6.93 |
| Machinery | 85.30M | 82.90M | 73.42M | 65.75M | 58.66M | 52.44M |
| Leasehold Improvements | 4.91M | 4.40M | 2.17M | 2.12M | 1.73M | 1.35M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 51.19M | 17.88M | -29.75M | 29.32M | 41.01M | 238.38M |
| Depreciation & Amortization | 17.89M | 17.71M | 19.55M | 16.63M | 14.31M | 15.01M |
| Loss (Gain) From Sale of Investments | -2.27M | -3.70M | -5.29M | -4.20M | -1.15M | |
| Stock-Based Compensation | 79.87M | 87.93M | 70.76M | 62.77M | 44.83M | 24.23M |
| Other Operating Activities | 18.50M | 12.91M | -9.97M | -660.00K | 1.93M | -168.43M |
| Change in Accounts Receivable | -73.33M | -20.05M | 46.71M | -32.22M | -8.59M | -15.80M |
| Change in Inventory | -69.96M | -31.01M | 30.26M | 16.18M | -60.28M | -36.61M |
| Change in Accounts Payable | 70.16M | 21.51M | -15.14M | -6.37M | 12.11M | 16.02M |
| Change in Unearned Revenue | 10.14M | 2.64M | -13.90M | 2.92M | 9.12M | 10.40M |
| Change in Other Net Operating Assets | 7.32M | 29.12M | -24.84M | -28.12M | -26.12M | -26.41M |
| Operating Cash Flow | 109.51M | 134.95M | 68.40M | 56.25M | 27.18M | 56.79M |
| Capital Expenditures | -24.09M | -19.43M | -18.05M | -17.86M | -14.07M | -10.46M |
| Investment in Securities | 98.72M | 13.06M | -91.48M | 11.61M | -10.02M | -100.20M |
| Investing Cash Flow | 74.64M | -6.37M | -109.53M | -6.25M | -24.08M | -110.66M |
| Long-Term Debt Repaid | -11.68M | -2.39M | -1.24M | |||
| Total Debt Repaid | -11.68M | -2.39M | -1.24M | |||
| Net Debt Issued (Repaid) | -11.68M | -2.39M | -1.24M | |||
| Issuance of Common Stock | 69.07M | 65.20M | 31.59M | 32.15M | 27.46M | 25.62M |
| Repurchase of Common Stock | -260.33M | -93.63M | -10.70M | -86.40M | ||
| Financing Cash Flow | -191.25M | -28.43M | 20.90M | -65.93M | 25.06M | 24.38M |
| Foreign Exchange Rate Adjustments | -512.00K | -222.00K | -14.00K | 256.00K | -424.00K | 11.00K |
| Net Cash Flow | -7.62M | 99.92M | -20.25M | -15.66M | 27.74M | -29.47M |
| Free Cash Flow | 85.42M | 115.52M | 50.35M | 38.40M | 13.12M | 46.33M |
| Free Cash Flow Margin | 7.69% | 11.55% | 6.05% | 3.69% | 1.51% | 6.82% |
| Free Cash Flow Per Share | 1.22 | 1.67 | 0.76 | 0.55 | 0.19 | 0.68 |
| Levered Free Cash Flow | 61.48M | 117.15M | 78.67M | 27.61M | 14.14M | 28.93M |
| Unlevered Free Cash Flow | 61.48M | 117.15M | 78.67M | 27.61M | 14.14M | 29.18M |
| Cash Interest Paid | 253.00K | 577.00K | 631.00K | |||
| Cash Income Tax Paid | 6.88M | 6.88M | 5.88M | 11.87M | 9.61M | 5.20M |
| Change in Working Capital | -55.66M | 2.22M | 23.09M | -47.62M | -73.75M | -52.40M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.32B | 3.51B | 2.31B | 2.88B | 4.48B | 5.10B |
| Enterprise Value | 2.14B | 3.18B | 2.03B | 2.64B | 4.26B | 4.92B |
| Last Close Price | 36.82 | 52.93 | 34.87 | 43.69 | 68.43 | 79.97 |
| PE Ratio | 50.26 | 196.15 | 98.13 | 109.20 | 21.39 | |
| Forward PE | 19.39 | 31.72 | 65.79 | 28.02 | 59.28 | 90.15 |
| PS Ratio | 2.09 | 3.51 | 2.78 | 2.77 | 5.16 | 7.50 |
| PB Ratio | 3.27 | 4.08 | 2.96 | 4.00 | 6.59 | 8.97 |
| P/TBV Ratio | 3.90 | 4.72 | 3.48 | 4.77 | 7.95 | 11.45 |
| P/FCF Ratio | 27.14 | 30.37 | 45.93 | 74.95 | 341.43 | 110.05 |
| P/OCF Ratio | 21.17 | 25.99 | 33.81 | 51.16 | 164.74 | 89.78 |
| PEG Ratio | 2.02 | 3.29 | 1.40 | 2.96 | 4.51 | |
| EV/Sales Ratio | 1.92 | 3.18 | 2.45 | 2.54 | 4.91 | 7.25 |
| EV/EBITDA Ratio | 27.02 | 82.16 | 62.54 | 63.60 | 55.86 | |
| EV/EBIT Ratio | 34.91 | 151.49 | 103.19 | 80.91 | 67.32 | |
| EV/FCF Ratio | 25.03 | 27.53 | 40.40 | 68.76 | 324.55 | 106.29 |
| Debt / Equity Ratio | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 | 0.03 |
| Debt / EBITDA Ratio | 0.17 | 0.36 | 0.25 | 0.17 | 0.17 | |
| Debt / FCF Ratio | 0.16 | 0.14 | 0.16 | 0.30 | 0.94 | 0.34 |
| Net Debt / Equity Ratio | -0.25 | -0.43 | -0.37 | -0.29 | -0.34 | -0.33 |
| Net Debt / EBITDA Ratio | -2.28 | -9.63 | 12.31 | -4.95 | -3.43 | -2.14 |
| Net Debt / FCF Ratio | -2.11 | -3.23 | -5.74 | -5.44 | -17.48 | -4.07 |
| Asset Turnover | 1.19 | 1.00 | 0.88 | 1.14 | 1.07 | 1.16 |
| Inventory Turnover | 3.32 | 3.65 | 3.21 | 3.69 | 3.63 | 4.57 |
| Quick Ratio | 1.57 | 2.99 | 2.87 | 1.85 | 2.03 | 2.26 |
| Current Ratio | 2.83 | 4.24 | 4.46 | 3.19 | 3.31 | 3.19 |
| Return on Equity (ROE) | 6.91% | 2.18% | -3.97% | 4.19% | 6.57% | 56.17% |
| Return on Assets (ROA) | 4.08% | 1.31% | -2.86% | 1.75% | 4.04% | 7.82% |
| Return on Invested Capital (ROIC) | 8.32% | 2.25% | -8.59% | 4.50% | 9.62% | 26.97% |
| Return on Capital Employed (ROCE) | 8.20% | 2.30% | -5.30% | 3.40% | 7.30% | 11.90% |
| Earnings Yield | 1.99% | 0.51% | -1.29% | 1.02% | 0.92% | 4.67% |
| FCF Yield | 3.68% | 3.29% | 2.18% | 1.33% | 0.29% | 0.91% |
| Buyback Yield / Dilution | -6.59% | -5.20% | 4.96% | -0.59% | -1.55% | -9.45% |