Calix, Inc., together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services. It offers Calix Cloud platform comprising Calix Engagement Cloud, Calix Operations Cloud, and Calix Service Cloud, which are configurable to display role-based insights and enable BEPs to anticipate and target new revenue-generating services and applications through mobile application, such as CommandIQ for residents and CommandWorx for businesses; Calix Intelligent Access, an access network solution for automated and intelligent networks; and Calix Unlimited Subscriber, a solution for subscriber managed services. It also provides SmartLife managed services, including SmartHome managed services and applications to enhance, operate and secure the connected experience of subscribers in their home for Wi-Fi, advanced content control, network security, connected cameras, and social media monitoring; SmartTown managed services that reimagine community Wi-Fi as a ubiquitous, secure, and managed experience across a BEP's footprint; SmartBiz managed services that address the business networking and productivity needs of business owners with an all-in-one managed service; SMARTMDU managed services provide purpose-built, flexible connectivity solutions for multi-family properties of any type. In addition, the company offers Wi-Fi systems under GigaSpire and GigaPro brands to be ready for deployment as a complete subscriber experience solution for BEP's residential and business subscribers. It provides its products through its direct sales force and resellers. Calix, Inc. was incorporated in 1999 and is headquartered in San Jose, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.0B | $39M | $18M | $116M | 2.1% | 20.3% | -160.1% |
| 2024 | $832M | $-23M | $-30M | $50M | -3.8% | -20.0% | -201.4% |
| 2023 | $1.0B | $42M | $29M | $38M | 4.1% | 19.8% | -28.5% |
| 2022 | $868M | $67M | $41M | $13M | 6.0% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 867.83 | 1,039.59 | 831.52 | 1,000.01 |
| Operating Revenue | - | 867.83 | 1,039.59 | 831.52 | 1,000.01 |
| Cost Of Revenue | - | 432.40 | 521.28 | 377.92 | 431.69 |
| Gross Profit | - | 435.43 | 518.32 | 453.59 | 568.32 |
| Operating Expense | - | 382.82 | 492.73 | 496.63 | 547.33 |
| Research And Development | - | 131.99 | 177.77 | 179.87 | 190.36 |
| Selling General And Administration | - | 250.82 | 314.96 | 316.76 | 356.97 |
| Total Expenses | - | 815.22 | 1,014.01 | 874.55 | 979.02 |
| Operating Income | - | 52.61 | 25.58 | -43.03 | 20.99 |
| Total Operating Income As Reported | - | 52.61 | 25.58 | -43.03 | 20.99 |
| EBITDA | - | 66.92 | 42.22 | -23.48 | 38.70 |
| Normalized EBITDA | - | 66.92 | 42.22 | -23.48 | 38.70 |
| EBIT | - | 52.61 | 25.58 | -43.03 | 20.99 |
| Interest Income | - | 2.01 | 9.70 | 12.34 | 13.43 |
| Interest Expense | 0.40 | - | - | - | - |
| Net Interest Income | - | 2.01 | 9.70 | 12.34 | 13.43 |
| Other Non Operating Income Expenses | - | -0.58 | -0.53 | -0.96 | -0.26 |
| Other Income Expense | - | -0.58 | -0.53 | -0.96 | -0.26 |
| Interest Income Non Operating | - | 2.01 | 9.70 | 12.34 | 13.43 |
| Interest Expense Non Operating | 0.40 | - | - | - | - |
| Net Non Operating Interest Income Expense | - | 2.01 | 9.70 | 12.34 | 13.43 |
| Pretax Income | - | 54.04 | 34.76 | -31.65 | 34.17 |
| Tax Provision | - | 13.03 | 5.43 | -1.90 | 16.28 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 41.01 | 29.32 | -29.75 | 17.88 |
| Net Income From Continuing And Discontinued Operation | - | 41.01 | 29.32 | -29.75 | 17.88 |
| Net Income From Continuing Operation Net Minority Interest | - | 41.01 | 29.32 | -29.75 | 17.88 |
| Net Income | - | 41.01 | 29.32 | -29.75 | 17.88 |
| Net Income Common Stockholders | - | 41.01 | 29.32 | -29.75 | 17.88 |
| Net Income Including Noncontrolling Interests | - | 41.01 | 29.32 | -29.75 | 17.88 |
| Normalized Income | - | 41.01 | 29.32 | -29.75 | 17.88 |
| Diluted NI Availto Com Stockholders | - | 41.01 | 29.32 | -29.75 | 17.88 |
| Basic Average Shares | - | 65.06 | 65.98 | 65.88 | 66.04 |
| Diluted Average Shares | - | 68.91 | 69.32 | 65.88 | 69.31 |
| Reconciled Depreciation | - | 14.32 | 16.63 | 19.55 | 17.71 |
| Reconciled Cost Of Revenue | - | 432.40 | 521.28 | 377.92 | 431.69 |
| Total Unusual Items | 0.79 | 0 | 0 | - | - |
| Total Unusual Items Excluding Goodwill | 0.79 | 0 | 0 | - | - |
| Special Income Charges | 0.79 | 0 | 0 | - | - |
| Impairment Of Capital Assets | 0 | - | - | - | - |
| Restructuring And Mergern Acquisition | -0.79 | 0 | 0 | - | - |
| General And Administrative Expense | - | 76.28 | 100.40 | 98.88 | 108.33 |
| Other Gand A | - | 76.28 | 100.40 | 98.88 | 108.33 |
| Total Other Finance Cost | - | -2.01 | -9.70 | - | - |
| Selling And Marketing Expense | - | 174.55 | 214.56 | 217.88 | 248.64 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Calix, Inc.this co. | CALX | $2.4B | 136.74β premium | 2.85 | 2.1% | 59.89 |
| Q2 Holdings, Inc. | QTWO | $2.8B | 53.98 | 4.24 | 7.9% | 24.54 |
| Cohu, Inc. | COHU | $2.6B | -35.49 | 3.36 | -9.5% | -283.09 |
| Digi International Inc. | DGII | $2.6B | 63.99 | 4.10 | 6.4% | 30.51 |
| Rogers Corporation | ROG | $2.6B | -42.10 | 2.18 |
| - |
| - |
| - |
| - |
| -5.2% |
| 233.34 |
| Ichor Holdings, Ltd. | ICHR | $2.5B | - | 3.73 | -8.0% | - |
| CSG Systems International, Inc. | CSGS | $2.3B | 41.17 | 8.11 | 19.7% | 13.98 |
| Alarm.com Holdings, Inc. | ALRM | $2.2B | 16.79 | 2.62 | 15.6% | 10.13 |
| ePlus inc. | PLUS | $2.1B | 15.95 | 1.98 | 12.4% | 9.08 |
| Peer Median | - | 16.79 | 3.54 | 7.1% | 13.98 | |