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Calix Ltd. ( (AU:CXL) ) has issued an update.
Calix reported a 21% rise in first-half FY26 product and services revenue to $16.3m, driven mainly by a 48% jump in magnesia sales, which helped lift gross margin to 40% and gross profit by 37%. The company sharply reduced operating cash outflows and operating costs, while capital expenditure remained focused on its lithium Mid-Stream Project and core group assets.
A revised structure for the lithium Mid-Stream Project with Pilbara Minerals is expected to remove ongoing funding obligations, release previously invested capital and better align with Calix’s licensing strategy. Commercial momentum included a major new U.S. magnesia contract worth up to A$10m annually, a joint development agreement with Rio Tinto and substantial grant and partner funding for the Zesty Demonstration Project and Leilac initiatives, underlining Calix’s growing role in low-carbon industrial technologies.
Collaborations with Norsk Hydro on low-emissions alumina and progress on Leilac’s carbon removal and decarbonisation projects, including work with buyers such as Google, Stripe and Shopify, further support Calix’s positioning in the global energy transition. In the second half of FY26, the company plans to build on magnesia growth, advance financing and execution of the Zesty plant and deepen commercialisation of its Leilac technology portfolio.
The most recent analyst rating on (AU:CXL) stock is a Sell with a A$1.00 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
More about Calix Ltd.
Calix Limited is an Australian environmental technology company focused on industrial decarbonisation solutions. Its activities span magnesia products, carbon capture and storage technologies, and process electrification, targeting sectors such as water treatment, cement, iron, lithium and alumina, with a business model increasingly oriented toward capital-light technology licensing and partnerships.
Average Trading Volume: 785,176
Technical Sentiment Signal: Buy
Current Market Cap: A$342.8M
Find detailed analytics on CXL stock on TipRanks’ Stock Analysis page.