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Calix Limited (CXL) investor relations material
Calix Limited H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue grew 11% year-over-year to $33.9m, led by magnesia and Leilac services, with biotech development paused to prioritize water segment growth.
Operating costs reduced by 23% in 2H FY25 compared to 1H, with annualized savings of $8–10m.
Cash runway extended to 18 months, supported by a $21m equity raise, cost reductions, and reduced capex.
Major commercialisation milestones achieved, including grants for lithium, iron & steel, and cement projects.
Management and staff hold significant equity, aligning interests with shareholders.
Financial highlights
FY25 revenue reached $33.9m (up 11%), with magnesia contributing nearly 85% and Leilac services up 19%.
Gross margin at 39%, with $10.7m gross profit.
Cash on hand at 30 June 2025: $23m, down from $43m in FY24.
Loss from ordinary activities: $(20.2)m, improved from $(26.3)m in FY24.
Heavy capital investment cycle ending, with substantial CapEx reduction planned for FY26.
Outlook and guidance
Targeting continued revenue and gross profit growth in magnesia and all business lines for FY26.
Cost savings and reduced CapEx underpin an 18-month cash runway.
Project priorities include lithium demonstration plant completion, ZESTY plant financing, and Leilac-2 permitting.
Ongoing focus on commercial milestones in lilac and sustainable processing, with paid studies as a revenue driver.
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