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Calnex Solutions (CLX) investor relations material
Calnex Solutions H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary19 Nov, 2025
Executive summary
Revenue for H1 FY26 reached £8.0 million, up 9% year-over-year, with improved profitability and a strong cash balance of £10.3 million supporting ongoing investment and dividend payments.
Gross margin increased to 76%, two percentage points higher than the prior year, reflecting a strong product mix.
The company continues to innovate, launching the Paragon neo-S synchronisation tester and progressing on a 1.6Tb/s product for release in 2027, with early access to high-speed chipsets.
Expansion into cloud, data center, and government/defense sectors is driving diversification beyond telecoms.
Interim dividend of 0.31p per share declared, reflecting confidence in future growth.
Financial highlights
Revenue grew 9% year-over-year to £8.0m, with growth across all regions and gross profit up £0.7m.
Gross margin improved to 76%; EBITDA margin rose to 20%, and underlying EBITDA increased to £1.58m.
Loss before tax reduced to £0.9m from £1.3m, with basic and adjusted EPS improving to (0.80)p.
Net cash inflow from operating activities was £2.8m, with closing cash at £10.3m.
R&D investment was £2.8m, slightly above the prior period due to inflation.
Outlook and guidance
Management expects continued revenue growth and positive cash flows in H2, with FY26 results anticipated to meet market expectations.
Targeting low double-digit revenue growth over the next few years, aiming for a return to 2022 profitability levels as new markets gain traction.
Well positioned to benefit from telecoms recovery and growth in cloud, data center, and US defence markets.
H1 new market revenue growth drivers
1.6Tb/s development market alignment
R&D investment impact on H1 profitability
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Next Calnex Solutions earnings date
H2 202620 May, 2026
Next Calnex Solutions earnings date
H2 202620 May, 2026
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Frequently asked questions
Calnex Solutions plc specializes in the design, production, and marketing of test instrumentation and solutions for network synchronization and network emulation. These offerings enable customers to validate the performance of critical infrastructure within digital communication networks. The company has established itself as a leader in the test and measurement industry, serving telecoms network operators, network providers, systems suppliers, laboratories, and network infrastructure across the globe. With a customer base extending to over 600 sites in 68 countries, Calnex Solutions has a strong global presence. The company's portfolio includes solutions for challenges such as O-RAN conformance testing, data center efficiency, the complexities of 5G, modeling military networks, and enhancing games testing, among others. Calnex is headquartered in Linlithgow, Scotland, and its shares are listed on the London Stock Exchange.
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