CALX FY 2022 Earnings Report — Calix, Inc. Revenue & Financial Results | Market Cap Arena

Calix, Inc.CALX

FY 2022 Earnings

Reported February 21, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$868M	—	$679M	—	27.7%
Op. Income	$53M	—	$74M	—	-28.8%
Gross Margin	50.2%	—	52.5%	—	-2.3pp
Net Margin	4.7%	—	35.1%	—	-30.4pp
EPS (Diluted)	$0.60	—	$3.51	—	-82.9%
Free Cash Flow	$13M	—	$46M	—	-71.7%

Revenue Flow

Item	Amount
REVENUE	$868M
Cost of Revenue	$432M
GROSS PROFIT	$435M
R&D Expenses	$132M
Selling & Marketing	$175M
General & Administrative	$76M
SG&A Expenses	$251M
Other Expenses	$0
Operating Expenses	$383M
Cost & Expenses	$815M
OPERATING INCOME	$53M
Interest Income	$2M
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$54M
Income Tax Expense	$13M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$14M
EBIT	$53M
EBITDA	$67M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$868M
Cost of Revenue	$432M
GROSS PROFIT	$435M
R&D Expenses	$132M
Selling & Marketing	$175M
General & Administrative	$76M
SG&A Expenses	$251M
Other Expenses	$0
Operating Expenses	$383M
Cost & Expenses	$815M
OPERATING INCOME	$53M
Interest Income	$2M
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$54M
Income Tax Expense	$13M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$14M
EBIT	$53M
EBITDA	$67M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$41M
Depreciation & Amortization	$14M
Stock-Based Compensation	$45M
Deferred Income Tax	$2M
Other Non-Cash Items	-$1M
Change in Working Capital	-$74M
OPERATING CASH FLOW	$27M
Capital Expenditure	-$14M
Acquisitions (Net)	$0
Purchases of Investments	-$191M
Sales/Maturities of Investments	$181M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$24M
Net Debt Issuance	-$2M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$25M
FREE CASH FLOW	$13M
Net Change in Cash	$28M

Balance Sheet

Item	Amount
Cash & Equivalents	$79M
Short-Term Investments	$163M
Net Receivables	$94M
Inventory	$149M
Other Current Assets	$63M
TOTAL CURRENT ASSETS	$547M
PP&E (Net)	$35M
Goodwill	$116M
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$167M
Other Non-Current Assets	$19M
TOTAL NON-CURRENT ASSETS	$337M
TOTAL ASSETS	$885M
Account Payables	$41M
Short-Term Debt	$11M
Deferred Revenue	$34M
Other Current Liabilities	$52M
TOTAL CURRENT LIABILITIES	$165M
Long-Term Debt	$0
Deferred Revenue NC	$25M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$40M
TOTAL LIABILITIES	$205M
Common Stock	$2M
Additional Paid-In Capital	$1.1B
Retained Earnings	-$390M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$680M
Minority Interest	$0
TOTAL EQUITY	$680M
TOTAL LIABILITIES & EQUITY	$885M
Total Debt	$20M
Net Debt	-$59M