Calix Inc.

01/27/2026 | Press release | Distributed by Public on 01/28/2026 15:06

Financial Statements (XLSX) FY 2025

2025 Historical FS

Calix, Inc.
Historical Financial Statements
GAAP and Non-GAAP Condensed Consolidated Statements of Income (Loss) 2025
($ in thousands) GAAP Non-GAAP GAAP Non-GAAP GAAP Non-GAAP GAAP Non-GAAP GAAP Non-GAAP
Qtr Ending Qtr Ending Qtr Ending Qtr Ending Qtr Ending Qtr Ending Qtr Ending Qtr Ending Ytd Ending Ytd Ending
3/29/25 3/29/25 6/28/25 6/28/25 9/27/25 9/27/25 12/31/25 12/31/25 12/31/25 12/31/25
Revenue:
Appliance $ 179,743 $ 179,743 $ 198,126 $ 198,126 $ 221,967 $ 221,967 $ 225,812 $ 225,812 $ 825,648 $ 825,648
Software and service 40,499 40,499 43,756 43,756 43,470 43,470 46,637 46,637 174,362 174,362
Total revenue 220,242 220,242 241,882 241,882 265,437 265,437 272,449 272,449 1,000,010 1,000,010
Cost of revenue:
Appliance (1) 82,745 82,399 90,274 89,955 97,474 97,176 96,595 96,305 367,088 365,835
Software and service (2) (6) 14,789 14,057 15,313 14,640 15,953 15,117 18,551 18,070 64,606 61,884
Total cost of revenue 97,534 96,456 105,587 104,595 113,427 112,293 115,146 114,375 431,694 427,719
Gross profit 122,708 123,786 136,295 137,287 152,010 153,144 157,303 158,074 568,316 572,291
Gross margin % 55.7% 56.2% 56.3% 56.8% 57.3% 57.7% 57.7% 58.0% 56.8% 57.2%
Sales and marketing (3) 58,059 51,590 63,653 52,606 60,257 54,099 66,667 59,608 248,636 217,903
Research and development (4) 43,980 38,899 45,787 39,897 47,055 41,090 53,534 47,134 190,356 167,020
General and administrative (5) 26,750 19,335 26,464 18,552 27,293 19,551 27,827 20,045 108,334 77,483
Total operating expenses 128,789 109,824 135,904 111,055 134,605 114,740 148,028 126,787 547,326 462,406
Operating income (loss) (6,081) 13,962 391 26,232 17,405 38,404 9,275 31,287 20,990 109,885
Interest income, net 3,287 3,287 2,959 2,959 3,264 3,264 3,924 3,924 13,434 13,434
Other income (expense), net (196) (196) 77 77 (335) (335) 198 198 (256) (256)
Total interest income and other income (expense), net 3,091 3,091 3,036 3,036 2,929 2,929 4,122 4,122 13,178 13,178
Income Taxes (7) 1,797 3,922 3,626 7,024 4,676 10,747 6,185 8,144 16,284 29,837
Net income (loss) $ (4,787) $ 13,131 $ (199) $ 22,244 $ 15,658 $ 30,586 $ 7,212 $ 27,265 $ 17,884 $ 93,226
Non-GAAP bridge to GAAP
(1) Appliance cost of revenue (stock-based compensation) $ 346 $ 319 $ 298 $ 290 $ 1,253
(2) Software and service cost of revenue (stock-based compensation) 434 445 455 481 1,815
(3) Sales and marketing (stock-based compensation) 6,469 11,047 6,158 7,059 30,733
(4) Research and development (stock-based compensation) 5,081 5,890 5,965 6,400 23,336
(5) General and administrative (stock-based compensation) 7,415 7,912 7,742 7,782 30,851
(6) Intangible asset amortization 298 228 381 - 0 907
(7) Intangible asset amortization Income tax effect of non-GAAP adjustments (2,125) (3,398) (6,071) (1,959) (13,553)
Total non-GAAP expenses $ 17,918 $ 22,443 $ 14,928 $ 20,053 $ 75,342
GAAP net income (loss) $ (4,787) $ (199) $ 15,658 $ 7,212 $ 17,884
Calix's non-GAAP measures are not in accordance with, or an alternative for, GAAP and may be different from non-GAAP measures used by other companies. In addition, the above non-GAAP Consolidated Statements of Income are not based on a comprehensive set of accounting rules or principles.
Calix, Inc.
Historical Financial Statements
Condensed Consolidated Balance Sheets 2025
($ in thousands)
3/29/25 6/28/25 9/27/25 12/31/25
Assets
Current assets:
Cash and cash equivalents $ 42,300 $ 76,538 $ 95,012 $ 143,086
Marketable securities 240,010 222,430 244,611 245,018
Accounts receivable, net 75,511 63,076 87,465 99,367
Inventory 100,835 110,522 107,981 133,737
Prepaid expenses and other current assets 103,344 89,748 80,448 70,345
Total current assets 562,000 562,314 615,517 691,553
Property and equipment, net 30,832 32,415 32,722 37,812
Right-of-use operating leases 5,535 4,736 10,822 14,665
Deferred tax assets 179,005 178,817 168,712 165,636
Goodwill 116,175 116,175 116,175 116,175
Other assets 23,572 26,949 32,421 32,681
Total assets $ 917,119 $ 921,406 $ 976,369 $ 1,058,522
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 23,471 $ 23,746 $ 20,138 $ 41,523
Accrued liabilities 69,871 74,122 78,511 91,339
Deferred revenue 29,482 25,774 23,992 30,386
Total current liabilities 122,824 123,642 122,641 163,248
Long-term portion of deferred revenue 21,310 20,111 19,939 19,890
Operating leases 3,378 2,953 9,270 12,756
Other long-term liabilities 2,441 2,028 2,013 3,409
Stockholders' equity:
Common stock 1,643 1,633 1,657 1,678
Additional paid-in capital 1,160,781 1,166,266 1,200,506 1,230,191
Accumulated other comprehensive loss (345) (115) (203) (408)
Accumulated deficit (394,913) (395,112) (379,454) (372,242)
Total stockholders' equity 767,166 772,672 822,506 859,219
Total liabilities and stockholders' equity $ 917,119 $ 921,406 $ 976,369 $ 1,058,522
Calix, Inc.
Historical Financial Statements
Condensed Consolidated Statement of Cash Flows 2025
($ in thousands)
Qtr Ending Qtr Ending Qtr Ending Qtr Ending Ytd Ending
3/29/25 6/28/25 9/27/25 12/31/25 12/31/25
Operating activities
Net income (loss) $ (4,787) $ (199) $ 15,658 $ 7,212 $ 17,884
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation 19,745 25,612 20,619 21,953 87,929
Depreciation and amortization 4,271 4,342 4,697 4,400 17,710
Deferred income taxes (1,459) 174 10,063 3,076 11,854
Net accretion of available-for-sale securities (1,144) (993) (864) (696) (3,697)
Changes in operating assets and liabilities:
Accounts receivable, net 3,810 12,435 (24,389) (11,902) (20,046)
Inventory 1,891 (9,686) 2,540 (25,755) (31,010)
Prepaid expenses and other assets 2,808 10,944 (2,455) 6,000 17,297
Accounts payable 3,486 (1,202) (2,355) 21,580 21,509
Accrued liabilities (14,086) 3,699 4,451 8,953 3,017
Deferred revenue 3,158 (4,906) (1,954) 6,345 2,643
Other long-term liabilities (481) (839) 6,303 4,880 9,863
Net cash provided by operating activities 17,212 39,381 32,314 46,046 134,953
Investing activities:
Purchases of property and equipment (4,310) (3,735) (5,625) (5,765) (19,435)
Purchases of marketable securities (36,856) (58,260) (71,820) (53,903) (220,839)
Sales of marketable securities - 0 11,362 - 0 16,780 28,142
Maturities of marketable securities 52,154 65,525 50,671 37,409 205,759
Net cash provided by (used in) investing activities 10,988 14,892 (26,774) (5,479) (6,373)
Financing activities
Proceeds from common stock issuances related to employee benefit plans 10,845 13,352 16,624 24,375 65,196
Repurchases of common stock (39,974) (33,557) (3,479) (16,620) (93,630)
Net cash provided by (used in) financing activities (29,129) (20,205) 13,145 7,755 (28,434)
Effect of exchange rate changes on cash and cash equivalents 67 170 (211) (248) (222)
Net increase (decrease) in cash and cash equivalents (862) 34,238 18,474 48,074 99,924
Cash and cash equivalents at beginning of period 43,162 42,300 76,538 95,012 43,162
Cash and cash equivalents at end of period $ 42,300 $ 76,538 $ 95,012 $ 143,086 $ 143,086
Calix Inc. published this content on January 27, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on January 28, 2026 at 21:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]