InsiderClue
Stocks · Communication · Communications Services, NEC

CALIX, INC

CALX Clue Score49
United States Fiscal year ends December CIK 0001406666
$37.24 +3.22% Close, 9 Oct 2026
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Price $37.24 −33.03% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue458.8Operating income−28.1Net income−27.4Fiscal year 2017Revenue510.4 +11.2%Operating income−81.6Net income−83.0Fiscal year 2018Revenue441.3 −13.5%Operating income−18.5Net income−19.3EPS, diluted−0.37Fiscal year 2019Revenue424.3 −3.8%Operating income−15.4Net income−17.7EPS, diluted−0.32Fiscal year 2020Revenue541.2 +27.6%Operating income36.8Net income33.5EPS, diluted0.54Fiscal year 2021Revenue679.4 +25.5%Operating income73.9Net income238.4 +611.9%EPS, diluted3.51 +550.0%Fiscal year 2022Revenue867.8 +27.7%Operating income52.6Net income41.0 −82.8%EPS, diluted0.60 −82.9%Fiscal year 2023Revenue1,039.6 +19.8%Operating income25.6Net income29.3 −28.5%EPS, diluted0.42 −30.0%Fiscal year 2024Revenue831.5 −20.0%Operating income−43.0Net income−29.7 −201.4%EPS, diluted−0.45 −207.1%Fiscal year 2025Revenue1,000.0 +20.3%Operating income21.0Net income17.9EPS, diluted0.26
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 458.8 510.4 441.3 424.3 541.2 679.4 867.8 1,039.6 831.5 1,000.0
Growth +11.2% −13.5% −3.8% +27.6% +25.5% +27.7% +19.8% −20.0% +20.3%
Operating income −28.1 −81.6 −18.5 −15.4 36.8 73.9 52.6 25.6 −43.0 21.0
Net income −27.4 −83.0 −19.3 −17.7 33.5 238.4 41.0 29.3 −29.7 17.9
Growth +611.9% −82.8% −28.5% −201.4%
EPS, diluted n/a n/a −0.37 −0.32 0.54 3.51 0.60 0.42 −0.45 0.26
Growth +550.0% −82.9% −30.0% −207.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin43.9%Operating margin−6.1%Net margin−6.0%Free cash flow margin3.2%Fiscal year 2017Gross margin33.9%Operating margin−16.0%Net margin−16.3%Free cash flow margin−13.9%Fiscal year 2018Gross margin44.7%Operating margin−4.2%Net margin−4.4%Free cash flow margin−1.6%Fiscal year 2019Gross margin44.3%Operating margin−3.6%Net margin−4.2%Free cash flow margin−2.1%Fiscal year 2020Gross margin49.3%Operating margin6.8%Net margin6.2%Free cash flow margin8.1%Fiscal year 2021Gross margin52.5%Operating margin10.9%Net margin35.1%Free cash flow margin6.8%Fiscal year 2022Gross margin50.2%Operating margin6.1%Net margin4.7%Free cash flow margin1.5%Fiscal year 2023Gross margin49.9%Operating margin2.5%Net margin2.8%Free cash flow margin3.7%Fiscal year 2024Gross margin54.6%Operating margin−5.2%Net margin−3.6%Free cash flow margin6.1%Fiscal year 2025Gross margin56.8%Operating margin2.1%Net margin1.8%Free cash flow margin11.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 43.9% 33.9% 44.7% 44.3% 49.3% 52.5% 50.2% 49.9% 54.6% 56.8%
Operating margin −6.1% −16.0% −4.2% −3.6% 6.8% 10.9% 6.1% 2.5% −5.2% 2.1%
Net margin −6.0% −16.3% −4.4% −4.2% 6.2% 35.1% 4.7% 2.8% −3.6% 1.8%
Free cash flow margin 3.2% −13.9% −1.6% −2.1% 8.1% 6.8% 1.5% 3.7% 6.1% 11.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow24.4Capital expenditure−9.8Free cash flow14.6Buybacks−12.8Fiscal year 2017Operating cash flow−62.8Capital expenditure−8.0Free cash flow−70.8 −585.6%Buybacks0.0Fiscal year 2018Operating cash flow3.6Capital expenditure−10.4Free cash flow−6.9Buybacks0.0Fiscal year 2019Operating cash flow4.7Capital expenditure−13.4Free cash flow−8.7Fiscal year 2020Operating cash flow51.4Capital expenditure−7.8Free cash flow43.6Fiscal year 2021Operating cash flow56.8Capital expenditure−10.5Free cash flow46.3 +6.3%Buybacks0.0Fiscal year 2022Operating cash flow27.2Capital expenditure−14.1Free cash flow13.1 −71.7%Buybacks0.0Fiscal year 2023Operating cash flow56.3Capital expenditure−17.9Free cash flow38.4 +192.7%Buybacks−86.4Fiscal year 2024Operating cash flow68.4Capital expenditure−18.1Free cash flow50.3 +31.1%Buybacks−10.7Fiscal year 2025Operating cash flow135.0Capital expenditure−19.4Free cash flow115.5 +129.4%Buybacks−93.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 24.4 −62.8 3.6 4.7 51.4 56.8 27.2 56.3 68.4 135.0
Capital expenditure −9.8 −8.0 −10.4 −13.4 −7.8 −10.5 −14.1 −17.9 −18.1 −19.4
Free cash flow 14.6 −70.8 −6.9 −8.7 43.6 46.3 13.1 38.4 50.3 115.5
Growth −585.6% +6.3% −71.7% +192.7% +31.1% +129.4%
Buybacks −12.8 0.0 0.0 n/a n/a 0.0 0.0 −86.4 −10.7 −93.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash50.4Shareholders’ equity213.0Fiscal year 2017Cash39.8Shareholders’ equity145.0Fiscal year 2018Cash49.6Shareholders’ equity151.9Fiscal year 2019Cash46.8Shareholders’ equity154.0Fiscal year 2020Cash80.8Shareholders’ equity280.3Fiscal year 2021Cash51.3Shareholders’ equity568.4Fiscal year 2022Cash79.1Shareholders’ equity679.6Fiscal year 2023Cash63.4Shareholders’ equity719.0Fiscal year 2024Cash43.2Shareholders’ equity780.9Fiscal year 2025Cash143.1Shareholders’ equity859.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 50.4 39.8 49.6 46.8 80.8 51.3 79.1 63.4 43.2 143.1
Shareholders’ equity 213.0 145.0 151.9 154.0 280.3 568.4 679.6 719.0 780.9 859.2

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
458.8 510.4 441.3 424.3 541.2 679.4 867.8 1,039.6 831.5 1,000.0
Growth +11.2% −13.5% −3.8% +27.6% +25.5% +27.7% +19.8% −20.0% +20.3%
257.6 337.5 243.9 236.4 274.2 322.8 432.4 521.3 377.9 431.7
201.2 172.9 197.4 187.9 267.0 356.6 435.4 518.3 453.6 568.3
Growth −14.1% +14.2% −4.8% +42.1% +33.5% +22.1% +19.0% −12.5% +25.3%
106.9 127.5 90.0 81.2 85.3 101.7 132.0 177.8 179.9 190.4
41.6 39.9 40.5 37.1 44.4 55.8 76.3 100.4 98.9 108.3
−28.1 −81.6 −18.5 −15.4 36.8 73.9 52.6 25.6 −43.0 21.0
Growth +100.7% −28.8% −51.4% −268.2%
−27.1 −81.8 −18.8 −16.5 34.3 72.7 54.0 34.8 −31.6 34.2
0.3 1.2 0.5 1.2 0.8 −165.7 13.0 5.4 −1.9 16.3
−27.4 −83.0 −19.3 −17.7 33.5 238.4 41.0 29.3 −29.7 17.9
Growth +611.9% −82.8% −28.5% −201.4%
Per share
n/a n/a −0.37 −0.32 0.57 3.77 0.63 0.44 −0.45 0.27
n/a n/a −0.37 −0.32 0.54 3.51 0.60 0.42 −0.45 0.26
Growth +550.0% −82.9% −30.0% −207.1%
n/a n/a 52.6 55.0 59.1 63.3 65.1 66.0 65.9 66.0
n/a n/a 52.6 55.0 62.0 67.9 68.9 69.3 65.9 69.3
Growth +4.5% +12.7% +9.4% +1.6% +0.6% −5.0% +5.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 13.1% a year over five years, and earnings per share fell 13.6% a year.
  • The diluted share count rose 11.8% in five years, which is dilution.
  • Operating margin is down 4.7 points on five years ago, at 2.1%.
  • A net loss in 5 of 10 years on file.