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MARKETS / NYSE / CALX
NYSE · COMMUNICATIONS SERVICES, NEC · LARGE CAP

Calix, Inc. CALX

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.0B
▲ 20.3% YoY
$17.9M
$115.5M
▲ 129.4% YoY
In brief

What this company does

Calix develops, markets and sells platform, cloud and managed services, powered by agentic AI, for communication service providers (CSPs) of all types and sizes. It has approximately 1,600 active service provider customers, purchasing directly and through partners, deploying passive optical, Active Ethernet or point-to-point Ethernet access networks or subscriber premise appliances. Sales to customers outside the U.S. represented 7% of its revenue in 2025, 8% in 2024 and 9% in 2023. As of December 31, 2025, it employed 1,921 employees globally, with 1,046 located in the U.S. and 875 outside the U.S., primarily in Canada, China and India. Its Calix One Platform includes Calix Cloud, offered in three role-based SaaS applications: Calix Engagement Cloud, Calix Operations Cloud and Calix Service Cloud. Calix Access Edge is its access network and subscriber service management solution for automated, intelligent next generation networks. Its Calix SmartLife managed service offerings include SmartHome managed services and applications to enhance, operate and secure the connected experience of subscribers in their home, including managed Wi-Fi, advanced content control, network security, connected cameras and social media monitoring for kids. Calix was founded in 1999.

Written from the business description in CALIX, INC's annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth
USD 1.0B
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.0 · Net income 0.0
0.4B0.8B200920112013201520172019202120232025
Compound annual growth
+4.8%
+13.1%
+9.4%
+8.7%
−24.2%
−11.8%
−24.3%
−13.6%
+0.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +13.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
2 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 2.1% · Net 1.8%
10%20%30%-5%-10%-15%200920112013201520172019202120232025
ROE
FY2025 · ROE 2.2%
20%40%-10%-20%200920112013201520172019202120232025

Each USD of equity produced 2 cents of profit this year.

Cash & shareholders
USD 28.4M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 115.5
40.0M80.0M-25.0M-50.0M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 28.4
20M40M-10M-20M201320152017202120232025

USD 28.4M in buybacks — 159% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 1.1B
EquityUSD 859.2M
CashUSD 143.1M
Current ratio4.24×

Equity funds 81% of total assets.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B1.00.81.00.90.70.50.40.40.50.50.40.40.40.30.30.30.2
Operating income $B0.0−0.00.00.10.10.0−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.1−0.0−0.0
EBITDA $B0.0−0.00.00.10.10.1−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.0−0.00.00.0−0.20.00.00.00.00.00.00.0−0.00.00.00.0−0.0
Net income $B0.0−0.00.00.00.20.0−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.1−0.0−0.0
Free cash flow $B0.10.10.00.00.00.0−0.0−0.0−0.10.0−0.00.00.00.00.00.0−0.0
EPS, diluted $0.26−0.450.420.603.510.54−0.32−0.37−1.66−0.56−0.51−0.41−0.35−0.59−1.15−0.65−6.48
Dividend / sh $0.000.000.000.000.000.000.000.000.000.000.000.000.000.00···
Payout %·················
ROE %2.2−4.04.26.656.215.4·······−10.4−22.2··
Shares out B0.070.070.070.070.060.060.060.050.050.050.050.050.050.050.050.04·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 82 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 13 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityCommunications Services, NEC
Listed onNYSE
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2009

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