CALX CALIX, INC

Overview and Growth

Fiscal 2025 results for CALIX, INC combined $1.00B of revenue with net income of $17.88M and an operating cash inflow of $134.95M. The $1.00B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $831.52M in fiscal 2024, revenue recorded a 20.3% year-over-year increase. Diluted earnings per share were $0.26, translating the period’s attributable earnings into the amount reported for each diluted share. Revenue equaled 0.94x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $568.32M as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 56.8% of revenue, quantifying the portion retained before operating expenses were recognized. Operating income was $20.99M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 2.1%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $17.88M, after the operating, financing, tax, and other items recognized for the period. The final earnings result represented 1.8% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $34.17M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 3.4% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $16.28M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 47.7% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 2.1% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 1.7% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

At period end, the $1.06B asset base was financed through $199.30M of liabilities and $859.22M of equity. Current assets were $691.55M against $163.25M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 4.24x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $143.09M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 87.6% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The liabilities-to-assets relationship was 18.8%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 13.5% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $939.27M in fiscal 2024, the current asset base moved 12.7% and finished higher. Against $780.94M of equity in fiscal 2024, the current book-equity balance moved 10.0% and ended higher.

Cash Flow and Earnings Quality

Cash flow from operations was $134.95M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 7.55x, showing the relationship between accrual earnings and operating cash. The cash-flow statement records $19.43M of capital expenditures, the investment amount considered after operating cash generation. Relative to operating cash flow, capital expenditures measured 14.4%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $115.52M of positive free cash flow for the period. The free-cash-flow margin was 11.6%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 10.9%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.