Calix Networks Financials
This page shows Calix Networks (CALX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Calix Networks has an operating margin of -5.2%, meaning the company retains $-5 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 2.5% the prior year.
Calix Networks's revenue declined 20% year-over-year, from $1.0B to $831.5M. This contraction results in a growth score of 0/100.
Calix Networks carries a low D/E ratio of 0.20, meaning only $0.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.46, Calix Networks holds $4.46 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Calix Networks has a free cash flow margin of 6.0%, earning a moderate score of 30/100. The company generates positive cash flow after capital investments, but with room for improvement.
Calix Networks passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Calix Networks generates $-2.30 in operating cash flow ($68.4M OCF vs -$29.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Calix Networks generated $831.5M in revenue in fiscal year 2024. This represents a decrease of 20.0% from the prior year.
Calix Networks's EBITDA was -$23.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 155.6% from the prior year.
Calix Networks generated $50.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 31.1% from the prior year.
Calix Networks reported -$29.7M in net income in fiscal year 2024. This represents a decrease of 201.4% from the prior year.
Calix Networks earned $-0.45 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 207.1% from the prior year.
Calix Networks held $43.2M in cash against $0 in long-term debt as of fiscal year 2024.
Calix Networks paid $0.00 per share in dividends in fiscal year 2024.
Calix Networks had 67M shares outstanding in fiscal year 2024. This represents an increase of 2.0% from the prior year.
Calix Networks's gross margin was 54.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 4.7 percentage points from the prior year.
Calix Networks's operating margin was -5.2% in fiscal year 2024, reflecting core business profitability. This is down 7.6 percentage points from the prior year.
Calix Networks's net profit margin was -3.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 6.4 percentage points from the prior year.
Calix Networks invested $179.9M in research and development in fiscal year 2024. This represents an increase of 1.2% from the prior year.
Calix Networks spent $10.7M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 87.6% from the prior year.
Calix Networks invested $18.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 1.1% from the prior year.
CALX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $265.4M+9.7% | $241.9M+9.8% | $220.2M+6.8% | $206.1M+4.0% | $198.1M-12.4% | $226.3M-14.5% | $264.7M+0.3% | $263.8M |
| Cost of Revenue | $113.4M+7.4% | $105.6M+8.3% | $97.5M+5.2% | $92.8M+2.5% | $90.5M-12.7% | $103.7M-31.5% | $151.5M+22.9% | $123.3M |
| Gross Profit | $152.0M+11.5% | $136.3M+11.1% | $122.7M+8.2% | $113.4M+5.4% | $107.6M-12.2% | $122.6M+8.2% | $113.2M-19.4% | $140.5M |
| R&D Expenses | $47.1M+2.8% | $45.8M+4.1% | $44.0M-4.1% | $45.9M+3.9% | $44.1M-0.7% | $44.4M+5.0% | $42.3M-9.9% | $47.0M |
| SG&A Expenses | $27.3M+3.1% | $26.5M-1.1% | $26.8M-0.2% | $26.8M+18.7% | $22.6M-14.0% | $26.3M-3.7% | $27.3M+7.9% | $25.3M |
| Operating Income | $17.4M+4351.4% | $391K+106.4% | -$6.1M+67.6% | -$18.8M-65.1% | -$11.4M-458.9% | -$2.0M+83.2% | -$12.1M-175.9% | $15.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $4.7M+29.0% | $3.6M+101.8% | $1.8M-21.3% | $2.3M+415.5% | -$724K-298.4% | $365K+115.1% | -$2.4M-303.8% | $1.2M |
| Net Income | $15.7M+7968.3% | -$199K+95.8% | -$4.8M+73.3% | -$17.9M-125.2% | -$8.0M-7826.2% | $103K+101.6% | -$6.6M-138.9% | $17.0M |
| EPS (Diluted) | $0.22 | $0.00+100.0% | $-0.07+74.1% | $-0.27-125.0% | $-0.12 | $0.00+100.0% | $-0.09-137.5% | $0.24 |
CALX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $976.4M+6.0% | $921.4M+0.5% | $917.1M-2.4% | $939.3M+2.3% | $917.9M-0.5% | $922.8M-2.0% | $941.9M+1.6% | $926.7M |
| Current Assets | $615.5M+9.5% | $562.3M+0.1% | $562.0M-3.9% | $584.7M+2.6% | $570.2M-1.5% | $578.8M-3.2% | $598.0M+1.8% | $587.6M |
| Cash & Equivalents | $95.0M+24.1% | $76.5M+80.9% | $42.3M-2.0% | $43.2M-48.9% | $84.5M-4.4% | $88.4M+39.4% | $63.4M-53.3% | $135.7M |
| Inventory | $108.0M-2.3% | $110.5M+9.6% | $100.8M-1.8% | $102.7M-9.5% | $113.5M-5.3% | $119.8M-9.9% | $133.0M-11.4% | $150.0M |
| Accounts Receivable | $87.5M+38.7% | $63.1M-16.5% | $75.5M-4.8% | $79.3M-3.3% | $82.1M-18.2% | $100.3M-20.4% | $126.0M+56.2% | $80.7M |
| Goodwill | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M |
| Total Liabilities | $153.9M+3.4% | $148.7M-0.8% | $150.0M-5.3% | $158.3M-3.3% | $163.7M-9.1% | $180.1M-19.2% | $222.9M+26.8% | $175.7M |
| Current Liabilities | $122.6M-0.8% | $123.6M+0.7% | $122.8M-6.3% | $131.1M-1.5% | $133.1M-8.9% | $146.1M-22.2% | $187.6M+34.8% | $139.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $822.5M+6.4% | $772.7M+0.7% | $767.2M-1.8% | $780.9M+3.5% | $754.2M+1.6% | $742.7M+3.3% | $719.0M-4.3% | $750.9M |
| Retained Earnings | -$379.5M+4.0% | -$395.1M-0.1% | -$394.9M-1.2% | -$390.1M-5.9% | -$368.2M-2.2% | -$360.3M0.0% | -$360.4M-1.9% | -$353.8M |
CALX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $32.3M-17.9% | $39.4M+128.8% | $17.2M+12.0% | $15.4M-31.3% | $22.3M+52.1% | $14.7M-1.6% | $14.9M-5.3% | $15.8M |
| Capital Expenditures | $5.6M+50.6% | $3.7M-13.3% | $4.3M-16.3% | $5.1M-13.5% | $6.0M+60.5% | $3.7M-6.6% | $4.0M+5.2% | $3.8M |
| Free Cash Flow | $26.7M-25.1% | $35.6M+176.3% | $12.9M+26.3% | $10.2M-37.7% | $16.4M+49.3% | $11.0M+0.3% | $11.0M-8.5% | $12.0M |
| Investing Cash Flow | -$26.8M-279.8% | $14.9M+35.5% | $11.0M+132.7% | -$33.6M-10.9% | -$30.3M-1023.5% | $3.3M+107.3% | -$44.7M-178.1% | $57.3M |
| Financing Cash Flow | $13.1M+165.1% | -$20.2M+30.6% | -$29.1M-3550.3% | -$798K-119.9% | $4.0M-43.2% | $7.1M+116.6% | -$42.6M-54.9% | -$27.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $3.5M-89.6% | $33.6M-16.1% | $40.0M+474.6% | $7.0M | $0-100.0% | $3.7M-91.5% | $44.0M+35.7% | $32.4M |
CALX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.3%+0.9pp | 56.4%+0.6pp | 55.7%+0.7pp | 55.0%+0.7pp | 54.3%+0.2pp | 54.2%+11.4pp | 42.8%-10.5pp | 53.3% |
| Operating Margin | 6.6%+6.4pp | 0.2%+2.9pp | -2.8%+6.3pp | -9.1%-3.4pp | -5.7%-4.8pp | -0.9%+3.7pp | -4.6%-10.6pp | 6.0% |
| Net Margin | 5.9%+6.0pp | -0.1%+2.1pp | -2.2%+6.5pp | -8.7%-4.7pp | -4.0%-4.1pp | 0.1%+2.5pp | -2.5%-8.9pp | 6.4% |
| Return on Equity | 1.9% | N/A | N/A | N/A | N/A | 0.0% | N/A | 2.3% |
| Return on Assets | 1.6%+1.6pp | -0.0%+0.5pp | -0.5%+1.4pp | -1.9%-1.0pp | -0.9%-0.9pp | 0.0%+0.7pp | -0.7%-2.5pp | 1.8% |
| Current Ratio | 5.02+0.5 | 4.55-0.0 | 4.58+0.1 | 4.46+0.2 | 4.28+0.3 | 3.96+0.8 | 3.19-1.0 | 4.22 |
| Debt-to-Equity | 0.190.0 | 0.190.0 | 0.200.0 | 0.20-0.0 | 0.22-0.0 | 0.24-0.1 | 0.31+0.1 | 0.23 |
| FCF Margin | 10.1%-4.7pp | 14.7%+8.9pp | 5.9%+0.9pp | 5.0%-3.3pp | 8.3%+3.4pp | 4.9%+0.7pp | 4.1%-0.4pp | 4.5% |
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Frequently Asked Questions
What is Calix Networks's annual revenue?
Calix Networks (CALX) reported $831.5M in total revenue for fiscal year 2024. This represents a -20.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Calix Networks's revenue growing?
Calix Networks (CALX) revenue declined by 20% year-over-year, from $1.0B to $831.5M in fiscal year 2024.
Is Calix Networks profitable?
No, Calix Networks (CALX) reported a net income of -$29.7M in fiscal year 2024, with a net profit margin of -3.6%.
What is Calix Networks's earnings per share (EPS)?
Calix Networks (CALX) reported diluted earnings per share of $-0.45 for fiscal year 2024. This represents a -207.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Calix Networks's EBITDA?
Calix Networks (CALX) had EBITDA of -$23.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Calix Networks's gross margin?
Calix Networks (CALX) had a gross margin of 54.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Calix Networks's operating margin?
Calix Networks (CALX) had an operating margin of -5.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Calix Networks's net profit margin?
Calix Networks (CALX) had a net profit margin of -3.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Calix Networks's free cash flow?
Calix Networks (CALX) generated $50.3M in free cash flow during fiscal year 2024. This represents a 31.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Calix Networks's operating cash flow?
Calix Networks (CALX) generated $68.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Calix Networks's total assets?
Calix Networks (CALX) had $939.3M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Calix Networks's capital expenditures?
Calix Networks (CALX) invested $18.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Calix Networks spend on research and development?
Calix Networks (CALX) invested $179.9M in research and development during fiscal year 2024.
Does Calix Networks buy back shares?
Yes, Calix Networks (CALX) spent $10.7M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Calix Networks have outstanding?
Calix Networks (CALX) had 67M shares outstanding as of fiscal year 2024.
What is Calix Networks's current ratio?
Calix Networks (CALX) had a current ratio of 4.46 as of fiscal year 2024, which is generally considered healthy.
What is Calix Networks's debt-to-equity ratio?
Calix Networks (CALX) had a debt-to-equity ratio of 0.20 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Calix Networks's return on assets (ROA)?
Calix Networks (CALX) had a return on assets of -3.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Calix Networks's Piotroski F-Score?
Calix Networks (CALX) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Calix Networks's earnings high quality?
Calix Networks (CALX) has an earnings quality ratio of -2.30x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Calix Networks?
Calix Networks (CALX) scores 46 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.