Calix (CALX) FY2020 results: revenue $541 million, up 27.6% on the year
Calix, Inc. (CALX) reported revenue of $541 million for fiscal 2020, the year ended 31 December 2020, up 27.6% on the year before. Net income was $33 million, and diluted earnings per share $0.54. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2023.
Revenue
$541 million
+27.6% on the year
FY2013FY2020
Operating margin
6.8%
-3.6% a year earlier
FY2013FY2020
Net income
$33 million
FY2013FY2020
Diluted EPS
$0.54
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
541
424
441
+27.6%
Cost of revenue
274
236
244
+16.0%
Gross profit
267
188
197
+42.1%
Gross margin
49.3%
44.3%
44.7%
Research and development
85.3
81.2
90.0
+5.0%
Operating income
36.8
-15.4
-18.5
Operating margin
6.8%
-3.6%
-4.2%
Pre-tax income
34.3
-16.5
-18.8
Income tax
0.8
1.2
0.5
-31.2%
Effective tax rate
2.3%
n/a
n/a
Net income
33.5
-17.7
-19.3
Net margin
6.2%
-4.2%
-4.4%
Diluted EPS
$0.54
-$0.32
-$0.37
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
51.4
4.7
3.6
+1,004.6%
Capital expenditure
7.8
13.4
10.4
-41.4%
Free cash flow
43.6
-8.7
-6.9
Free cash flow margin
8.1%
-2.1%
-1.6%
Cash from investing
-60.8
-13.4
-0.1
Cash from financing
42.1
6.0
7.5
+605.9%
Depreciation and amortisation
n/a
n/a
9.2
Share-based compensation
14.0
11.2
17.5
+24.9%
Buybacks
n/a
n/a
0.0
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
62m
55m
53m
+12.7%
Shares outstanding at period end
62m
56m
54m
+10.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
280
154
152
+82.0%
Debt
0.0
30.0
30.0
Operating lease liabilities
12.9
14.3
0.0
-9.7%
Other liabilities
134
118
135
+13.2%
Total liabilities and equity
427
317
317
+34.9%
Fixed assets
20.4
21.5
24.9
-5.3%
Goodwill
116
116
116
0.0%
Intangible assets
9.5
12.1
0.0
-21.7%
Securities held for sale or to maturity
53.0
0.0
n/a
Cash and equivalents
80.8
46.8
49.6
+72.6%
Receivables
69.4
46.5
67.0
+49.3%
Inventory
52.3
40.2
50.2
+30.2%
Other assets
25.8
33.5
9.1
-22.9%
Total assets
427
317
317
+34.9%
10-K for the year ended 31 December 2020, filed 21 February 2023: the filing.