CALIX, INC. (CALX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 21, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CALX SEC filings page.
CALIX, INC. (CALX) reported $1.1B in revenue over the twelve months to Jun 27, 2026, up 27.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Calix’s recovery turned higher sales and gross margin into cash, while operating profits remained thin and the balance sheet stayed lightly leveraged.
The revenue recovery reached$1.0B in FY2025 from$831.5M in FY2024, restoring scale after the prior contraction. At the same time, margin expansion lifted gross margin to56.8% from54.5% , helping operating income return to positive territory despite continued heavy operating investment; the improvement points more to better business economics than simple overhead cuts.
FY2025 operating cash flow reached
FY2025 liabilities were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of CALIX, INC.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
CALIX, INC. has an operating margin of 2.1%, meaning the company retains $2 of operating profit per $100 of revenue. This results in a moderate score of 31/100, indicating healthy but not exceptional operating efficiency. This is up from -5.2% the prior year.
CALIX, INC.'s revenue surged 20.3% year-over-year to $1.0B, reflecting rapid business expansion. This strong growth earns a score of 24/100.
CALIX, INC. carries a low D/E ratio of 0.23, meaning only $0.23 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.24, CALIX, INC. holds $4.24 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 88/100.
CALIX, INC. has a free cash flow margin of 11.6%, earning a moderate score of 60/100. The company generates positive cash flow after capital investments, but with room for improvement.
CALIX, INC.'s ROE of 2.1% shows moderate profitability relative to equity, earning a score of 31/100. This is up from -3.8% the prior year.
CALIX, INC. scores 7.81, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.2B) relative to total liabilities ($199.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
CALIX, INC. passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, CALIX, INC. generates $7.55 in operating cash flow ($135.0M OCF vs $17.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
CALIX, INC. generated $293.3M in revenue in Q2 2026. This represents an increase of 21.3% from the same quarter a year earlier. Against the prior quarter it is up 4.8%.
CALIX, INC.'s EBITDA was $26.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 454.8% from the same quarter a year earlier. Against the prior quarter it is up 53.6%.
CALIX, INC. reported $17.1M in net income in Q2 2026. This represents an increase of 8698.5% from the same quarter a year earlier. Against the prior quarter it is up 52.6%.
CALIX, INC. earned $0.26 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 62.5%.
Cash & Balance Sheet
CALIX, INC. generated $11.9M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 66.5% from the same quarter a year earlier. Against the prior quarter it is up 83.1%.
CALIX, INC. held $68.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
CALIX, INC.'s gross margin was 54.6% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.
CALIX, INC.'s operating margin was 7.4% in Q2 2026, reflecting core business profitability. This is up 7.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.9 percentage points.
CALIX, INC.'s net profit margin was 5.8% in Q2 2026, showing the share of revenue converted to profit. This is up 5.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.8 percentage points.
CALIX, INC.'s ROE was 2.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Capital Allocation
CALIX, INC. invested $52.8M in research and development in Q2 2026. This represents an increase of 15.2% from the same quarter a year earlier. Against the prior quarter it is down 3.5%.
CALIX, INC. spent $69.4M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 106.7% from the same quarter a year earlier. Against the prior quarter it is down 59.4%.
CALIX, INC. invested $4.6M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 22.6% from the same quarter a year earlier. Against the prior quarter it is down 43.6%.
CALX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $293.3M+21.3% | $280.0M+27.1% | $272.4M+32.2% | $265.4M+32.1% | $241.9M+22.1% | $220.2M-2.7% | $206.1M-22.1% | $200.9M-23.8% |
| Cost of Revenue | $133.2M+26.2% | $120.7M+23.7% | $115.1M+24.1% | $113.4M+24.8% | $105.6M+16.6% | $97.5M-6.0% | $92.8M-38.8% | $90.9M-26.3% |
| Gross Profit | $160.1M+17.5% | $159.3M+29.8% | $157.3M+38.8% | $152.0M+38.1% | $136.3M+26.7% | $122.7M+0.1% | $113.4M+0.1% | $110.0M-21.7% |
| R&D Expenses | $52.8M+15.2% | $54.6M+24.3% | $53.5M+16.7% | $47.1M+3.5% | $45.8M+3.8% | $44.0M-1.0% | $45.9M+8.4% | $45.5M-3.2% |
| SG&A Expenses | $23.2M-12.4% | $28.4M+6.3% | $27.8M+3.8% | $27.3M+17.8% | $26.5M+17.1% | $26.8M+1.7% | $26.8M-1.8% | $23.2M-8.4% |
| Operating Income | $21.8M+5488.0% | $12.7M+309.1% | $9.3M+149.5% | $17.4M+259.7% | $391K+103.4% | -$6.1M-199.3% | -$18.8M-55.1% | -$10.9M-168.4% |
| EBITDA | $26.3M+454.8% | $17.1M+1044.3% | $13.7M+197.6% | $22.1M+463.6% | $4.7M+175.9% | -$1.8M-163.8% | -$14.0M-83.3% | -$6.1M-130.1% |
| Income Tax | $6.5M+78.8% | $4.0M+123.8% | $6.2M+170.8% | $4.7M+222.3% | $3.6M+600.8% | $1.8M+392.3% | $2.3M+194.2% | -$3.8M-421.3% |
| Net Income | $17.1M+8698.5% | $11.2M+334.2% | $7.2M+140.2% | $15.7M+494.6% | -$199K+97.5% | -$4.8M-4747.6% | -$17.9M-171.6% | -$4.0M-123.4% |
| EPS (Basic) | $0.27 | $0.17+342.9% | $0.11+140.7% | $0.24+500.0% | $0.00+100.0% | -$0.07 | -$0.27-170.0% | -$0.06-123.1% |
| EPS (Diluted) | $0.26 | $0.16+328.6% | $0.11+140.7% | $0.22+466.7% | $0.00+100.0% | -$0.07 | -$0.27-170.0% | -$0.06-125.0% |
| Diluted Shares (Avg) | 66M+1.5% | 69M+3.9% | N/A | 70M+5.6% | 65M-1.8% | 66M-3.1% | N/A | 66M-5.0% |
Not reported in any period shown, so not listed: Interest Expense.
CALX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $954.4M+3.6% | $951.4M+3.7% | $1.1B+12.7% | $976.4M+4.1% | $921.4M+0.4% | $917.1M-0.6% | $939.3M-0.3% | $937.5M+1.2% |
| Current Assets | $595.0M+5.8% | $587.2M+4.5% | $691.6M+18.3% | $615.5M+5.2% | $562.3M-1.4% | $562.0M-2.9% | $584.7M-2.2% | $585.0M-0.4% |
| Cash & Equivalents | $68.9M-10.0% | $54.6M+29.1% | $143.1M+231.5% | $95.0M+52.4% | $76.5M-9.4% | $42.3M-52.2% | $43.2M-31.9% | $62.4M-54.0% |
| Short-Term Investments | $125.4M-43.6% | $188.7M-21.4% | $245.0M-3.5% | $244.6M+8.6% | $222.4M+25.9% | $240.0M+58.9% | $253.9M+61.8% | $225.2M+96.8% |
| Inventory | $180.5M+63.3% | $154.6M+53.3% | $133.7M+30.2% | $108.0M+7.3% | $110.5M-2.6% | $100.8M-15.8% | $102.7M-22.8% | $100.6M-32.9% |
| Accounts Receivable | $136.4M+116.2% | $116.8M+54.6% | $99.4M+25.3% | $87.5M+2.6% | $63.1M-23.1% | $75.5M-24.7% | $79.3M-37.1% | $85.3M+5.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% | $116.2M0.0% |
| Total Liabilities | $244.4M+64.3% | $213.4M+42.3% | $199.3M+25.9% | $153.9M-3.1% | $148.7M-9.1% | $150.0M-16.7% | $158.3M-29.0% | $158.8M-9.6% |
| Current Liabilities | $210.3M+70.1% | $178.5M+45.3% | $163.2M+24.5% | $122.6M-5.6% | $123.6M-7.1% | $122.8M-15.9% | $131.1M-30.1% | $129.9M-6.6% |
| Non-Current Liabilities | $34.1M+36.0% | $35.0M+28.8% | $36.1M+32.6% | $31.2M+7.9% | $25.1M-17.8% | $27.1M-20.2% | $27.2M-22.9% | $28.9M-20.9% |
| Total Equity | $710.0M-8.1% | $738.0M-3.8% | $859.2M+10.0% | $822.5M+5.6% | $772.7M+2.4% | $767.2M+3.3% | $780.9M+8.6% | $778.7M+3.7% |
| Retained Earnings | -$343.9M+13.0% | -$361.0M+8.6% | -$372.2M+4.6% | -$379.5M-1.9% | -$395.1M-7.3% | -$394.9M-9.6% | -$390.1M-8.3% | -$372.2M-5.2% |
Not reported in any period shown, so not listed: Long-Term Debt.
CALX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $16.5M-58.1% | $14.6M-15.0% | $46.0M+199.7% | $32.3M+102.0% | $39.4M+76.2% | $17.2M+17.2% | $15.4M+2.9% | $16.0M+1.6% |
| Depreciation & Amortization | $4.4M+1.6% | $4.4M+2.5% | $4.4M-7.3% | $4.7M-2.5% | $4.3M-15.2% | $4.3M-12.2% | $4.7M+6.6% | $4.8M+12.9% |
| Stock-Based Compensation | $16.7M-34.8% | $20.6M+4.4% | N/A | $20.6M+25.9% | $25.6M+65.7% | $19.7M+17.1% | N/A | $16.4M+2.2% |
| Capital Expenditures | $4.6M+22.6% | $8.1M+88.4% | $5.8M+12.0% | $5.6M+73.4% | $3.7M-37.2% | $4.3M+16.2% | $5.1M+29.6% | $3.2M-14.1% |
| Free Cash Flow | $11.9M-66.5% | $6.5M-49.5% | $40.3M+294.4% | $26.7M+109.2% | $35.6M+117.4% | $12.9M+17.5% | $10.2M-6.7% | $12.8M+6.5% |
| Investing Cash Flow | $59.0M+296.4% | $47.9M+335.5% | -$5.5M+83.7% | -$26.8M+45.3% | $14.9M+149.1% | $11.0M+234.9% | -$33.6M+24.9% | -$48.9M-185.4% |
| Financing Cash Flow | -$61.3M-203.3% | -$150.9M-417.9% | $7.8M+1071.8% | $13.1M+24.0% | -$20.2M-602.6% | -$29.1M-511.7% | -$798K+98.1% | $10.6M+138.5% |
| Share Buybacks | $69.4M+106.7% | $170.9M+327.5% | $16.6M+138.9% | $3.5M | $33.6M | $40.0M+969.4% | $7.0M-84.2% | $0-100.0% |
Not reported in any period shown, so not listed: Dividends Paid.
CALX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.6%-1.8pp | 56.9%+1.2pp | 57.7%+2.7pp | 57.3%+2.5pp | 56.4%+2.0pp | 55.7%+1.6pp | 55.0%+12.2pp | 54.8%+1.5pp |
| Operating Margin | 7.4%+7.3pp | 4.5%+7.3pp | 3.4%+12.5pp | 6.6%+12.0pp | 0.2%+5.9pp | -2.8%-1.9pp | -9.1%-4.5pp | -5.4%-11.5pp |
| Net Margin | 5.8%+5.9pp | 4.0%+6.2pp | 2.6%+11.3pp | 5.9%+7.9pp | -0.1%+3.9pp | -2.2%-2.2pp | -8.7%-6.2pp | -2.0%-8.4pp |
| Return on Equity | 2.4%+2.4pp | 1.5%+2.1pp | 0.8%+3.1pp | 1.9%+2.4pp | 0.0%+1.0pp | -0.6%-0.6pp | -2.3%-1.4pp | -0.5%-2.8pp |
| Return on Assets | 1.8%+1.8pp | 1.2%+1.7pp | 0.7%+2.6pp | 1.6%+2.0pp | 0.0%+0.8pp | -0.5%-0.5pp | -1.9%-1.2pp | -0.4%-2.3pp |
| Current Ratio | 2.83-1.7x | 3.29-1.3x | 4.24-0.2x | 5.02+0.5x | 4.55+0.3x | 4.58+0.6x | 4.46+1.3x | 4.50+0.3x |
| Debt-to-Equity | 0.34+0.2x | 0.29+0.1x | 0.230.0x | 0.190.0x | 0.190.0x | 0.200.0x | 0.20-0.1x | 0.200.0x |
| Asset Turnover | 0.310.0x | 0.29+0.1x | 0.260.0x | 0.27+0.1x | 0.260.0x | 0.240.0x | 0.22-0.1x | 0.21-0.1x |
| FCF Margin | 4.1%-10.7pp | 2.3%-3.5pp | 14.8%+9.8pp | 10.1%+3.7pp | 14.7%+6.5pp | 5.9%+1.0pp | 5.0%+0.8pp | 6.3%+1.8pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| CALIX, INC. CALX | FY2025 | $1.0B | $17.9M | 1.8% | $2.2B | 51/100 |
| Paymentus Holdings, Inc. PAY | FY2025 | $1.2B | $66.9M | 5.6% | $4.0B | 72/100 |
| DLocal Limited DLO | FY2025 | $1.1B | $196.9M | 18.0% | $4.3B | 52/100 |
| BOX, INC. BOX | FY2026 | $1.2B | $115.4M | 9.8% | $4.8B | 56/100 |
| OneStream, Inc. OS | FY2025 | $601.9M | -$50.3M | -8.4% | $4.6B | 53/100 |
Where CALIX, INC. Ranks
Frequently Asked Questions
What is CALIX, INC.'s annual revenue?
CALIX, INC. (CALX) reported $1.0B in total revenue for fiscal year 2025. This represents a 20.3% 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, INC.'s revenue growing?
CALIX, INC. (CALX) revenue grew by 20.3% year-over-year, from $831.5M to $1.0B in fiscal year 2025.
Is CALIX, INC. profitable?
Yes, CALIX, INC. (CALX) reported a net income of $17.9M in fiscal year 2025, with a net profit margin of 1.8%.
What is CALIX, INC.'s EBITDA?
CALIX, INC. (CALX) had EBITDA of $38.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is CALIX, INC.'s gross margin?
CALIX, INC. (CALX) had a gross margin of 56.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is CALIX, INC.'s operating margin?
CALIX, INC. (CALX) had an operating margin of 2.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is CALIX, INC.'s net profit margin?
CALIX, INC. (CALX) had a net profit margin of 1.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is CALIX, INC.'s return on equity (ROE)?
CALIX, INC. (CALX) has a return on equity of 2.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is CALIX, INC.'s free cash flow?
CALIX, INC. (CALX) generated $115.5M in free cash flow during fiscal year 2025. This represents a 129.4% 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, INC.'s operating cash flow?
CALIX, INC. (CALX) generated $135.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are CALIX, INC.'s total assets?
CALIX, INC. (CALX) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are CALIX, INC.'s capital expenditures?
CALIX, INC. (CALX) invested $19.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does CALIX, INC. spend on research and development?
CALIX, INC. (CALX) invested $190.4M in research and development during fiscal year 2025.
What is CALIX, INC.'s current ratio?
CALIX, INC. (CALX) had a current ratio of 4.24 as of fiscal year 2025, which is generally considered healthy.
What is CALIX, INC.'s debt-to-equity ratio?
CALIX, INC. (CALX) had a debt-to-equity ratio of 0.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CALIX, INC.'s return on assets (ROA)?
CALIX, INC. (CALX) had a return on assets of 1.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is CALIX, INC.'s P/E ratio?
CALIX, INC. (CALX) trades at 43.4x earnings, its market capitalization divided by net income of $51.2M net income, trailing 12 months to June 27, 2026. The market capitalization is $2.2B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is CALIX, INC.'s price-to-sales ratio?
CALIX, INC. (CALX) trades at 2.0x sales, its market capitalization divided by revenue of $1.1B revenue, trailing 12 months to June 27, 2026. The market capitalization is $2.2B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is CALIX, INC.'s Altman Z-Score?
CALIX, INC. (CALX) has an Altman Z-Score of 7.81, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is CALIX, INC.'s Piotroski F-Score?
CALIX, INC. (CALX) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are CALIX, INC.'s earnings high quality?
CALIX, INC. (CALX) has an earnings quality ratio of 7.55x, considered cash-backed (high 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, INC.?
CALIX, INC. (CALX) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.