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Calix Ltd.
(Sydney:CXL)
Calix Ltd. (CXL) vs. iShares MSCI Australia ETF (EWA)
Calix Ltd. Business Overview & Revenue Model
Calix Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 28.17M | 27.74M | 24.19M | 18.60M | 18.47M | 19.21M |
| Gross Profit | 4.96M | 10.22M | 10.29M | -2.40M | 1.01M | 1.86M |
| EBITDA | -20.42M | -11.24M | -19.52M | -25.03M | -12.69M | -5.81M |
| Net Income | -19.17M | -19.17M | -25.26M | -23.19M | -16.34M | -9.11M |
Balance Sheet | ||||||
| Total Assets | 110.38M | 110.38M | 112.40M | 127.51M | 61.21M | 51.62M |
| Cash, Cash Equivalents and Short-Term Investments | 22.98M | 22.98M | 42.96M | 74.47M | 24.98M | 15.13M |
| Total Debt | 2.63M | 2.63M | 3.26M | 1.32M | 1.47M | 1.29M |
| Total Liabilities | 22.83M | 22.83M | 28.39M | 22.55M | 16.41M | 13.48M |
| Stockholders Equity | 88.29M | 88.29M | 83.79M | 103.73M | 43.49M | 38.15M |
Cash Flow | ||||||
| Free Cash Flow | -38.95M | -39.59M | -33.13M | -30.29M | -12.76M | -15.06M |
| Operating Cash Flow | -28.67M | -28.67M | -13.68M | -17.26M | -3.74M | -8.12M |
| Investing Cash Flow | -10.64M | -10.64M | -17.55M | -13.03M | 13.83M | -6.94M |
| Financing Cash Flow | 19.33M | 19.33M | -280.00K | 79.77M | -232.33K | 19.11M |
Calix Ltd. Technical Analysis
Calix Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | AU$260.85M | -12.31 | -22.28% | ― | 16.47% | 29.53% | |
55 Neutral | AU$42.03M | -5.36 | -67.76% | ― | 7.08% | 33.70% | |
53 Neutral | AU$85.54M | -97.83 | -1.75% | ― | -5.37% | -140.00% | |
53 Neutral | AU$21.86M | -8.01 | -63.81% | ― | ― | 52.66% | |
41 Neutral | AU$27.03M | -2.69 | -869.14% | ― | 340.27% | 19.44% | |
37 Underperform | AU$16.60M | -2.78 | -263.52% | ― | -32.85% | 28.00% |
Calix Ltd. Corporate Events
Calix Limited has responded to an Australian Securities Exchange (ASX) price query after its share price climbed sharply from $0.73 on 24 December 2025 to an intraday high of $1.185, accompanied by a significant increase in trading volumes from 29 December 2025. The company told ASX it is not aware of any undisclosed information that could explain the recent trading activity, provided no alternative explanation for the price and volume surge, and confirmed it remains in full compliance with ASX Listing Rules, including its continuous disclosure obligations, with the response authorised by its CFO and Managing Director.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Limited has completed construction of its lithium Mid-Stream Demonstration Plant, an electric calciner facility developed in joint venture with PLS Group at the Pilgangoora operation in Western Australia. The completion marks a key milestone in advancing Calix’s decarbonisation-focused processing technology into the lithium value chain, with commissioning and operating plans to be detailed later by the joint venture, underscoring the company’s strategic push into critical minerals processing and its broader role in enabling lower-carbon industrial operations.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.67 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix has signed a three-year contract, with options for a further two years, to supply magnesium hydroxide water treatment products to a major global agriculture company in the United States, using its existing production and distribution facilities in the US Midwest. The deal is expected to deliver up to A$10 million in additional annual product and services revenue from the first quarter of the 2026 calendar year, underscoring the growing commercial traction of Calix’s water treatment solutions and strengthening its position in the US market without requiring new capacity investment, with the company confirming that all material information relevant to assessing the contract’s impact on its securities has been disclosed.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Limited announced the completion of due diligence for the Zesty Green Iron Demonstration Project in partnership with Rio Tinto, clearing the way for a $3 million cash contribution from Rio Tinto. The project aims to produce green iron and steel using Calix’s Zesty technology, which combines electric heating and hydrogen reduction. The demonstration plant is designed to produce up to 30,000 tonnes per annum of hydrogen direct reduced iron or hot briquetted iron, supporting the development of a green iron industry in Australia. The project is supported by a grant from the Australian Renewable Energy Agency, and has entered its detailed design engineering phase.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Limited has issued 516,667 new fully paid ordinary shares in lieu of Directors’ Fees, following approval at its 2025 Annual General Meeting. This move aligns with the company’s compliance with relevant accounting and disclosure requirements, reinforcing its commitment to transparency and operational efficiency. The issuance of shares without disclosure under Part 6D.2 of the Corporations Act reflects Calix’s strategic financial management, potentially impacting its financial structure and stakeholder interests.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Ltd. has announced the quotation of 516,667 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code CXL. This move is part of a previously announced transaction, indicating an expansion in the company’s market activities and potentially enhancing its liquidity and investor base.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Ltd. announced a proposed issue of 516,667 ordinary fully paid securities, with the issuance date set for December 5, 2025. This move is part of a placement or other type of issue, which could impact the company’s market positioning by potentially increasing its capital base and enhancing its ability to invest in its core technologies and market expansion.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Ltd. held its Annual General Meeting on November 18, 2025, where several resolutions were passed. Key outcomes included the adoption of the Remuneration Report and the re-election of Alison Deans as Director. Additionally, approvals were granted for STI and LTI Performance Rights for CEO Phil Hodgson, and the issuance of Director Shares to several directors in lieu of fees. These decisions reflect the company’s strategic focus on aligning executive incentives with performance and ensuring robust governance.
The most recent analyst rating on (AU:CXL) stock is a Buy with a A$1.70 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Ltd. announced significant advancements at its 2025 Annual General Meeting, highlighting strategic partnerships and commercial milestones. The company secured a $35 million commitment from Rio Tinto for its Zero Emission Steel Technology and partnered with Norske Hydro to develop zero emissions alumina technology. The completion of a lithium demonstration plant and advancements in cement, lime, and water treatment projects underscore Calix’s growth and commitment to sustainability. Despite some challenges in the U.S. market, Calix reported a 17% increase in revenue and a 23% reduction in operating costs for FY2025, continuing its positive financial trajectory.
The most recent analyst rating on (AU:CXL) stock is a Buy with a A$1.70 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Limited has announced a Joint Development Agreement with Rio Tinto, which will be discussed in an investor webinar. This collaboration is expected to enhance Calix’s position in the industry by leveraging its core technology to meet the increasing demand for sustainable industrial solutions. The agreement signifies a strategic move to strengthen Calix’s operations and impact in the environmental technology sector.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Limited presented at the 14th Australian Microcap Investment Conference in Melbourne, highlighting its advancements in environmental technology. The company’s focus on industrial decarbonisation and sustainability positions it as a key player in addressing global environmental challenges, potentially impacting its operations and industry standing positively.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Limited has announced its 2025 Annual General Meeting, scheduled for November 18, 2025, which will be held as a hybrid meeting allowing both online and in-person participation. The meeting will cover the company’s financial report, the adoption of the remuneration report, and the re-election of Alison Deans as a director. This AGM is significant for stakeholders as it addresses key governance and strategic decisions impacting the company’s future direction.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Ltd. announced the quotation of 179,130 new ordinary fully paid securities on the Australian Securities Exchange (ASX), following the exercise of options or conversion of other convertible securities. This move is expected to enhance the company’s capital structure and potentially improve its market positioning by increasing liquidity and investor interest.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.
Calix Limited has released its latest newsletter detailing significant commercial milestones, including a $44.9 million ARENA grant for a Green Iron Demonstration Plant and a new partnership with Hydro. The company also reported successful upgrades and testing of its Leilac-1 project, progress in its lithium demonstration project, and expansion in the magnesia market in Queensland. These developments indicate Calix’s strong focus on sustainability and its growing impact on the industrial sector.
The most recent analyst rating on (AU:CXL) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Calix Ltd. stock, see the AU:CXL Stock Forecast page.