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CALX Calix

Calix, Inc. - Innovative communications service providers rely on Calix platforms to help them master and monetize the complex infrastructure between their subscribers and the cloud. Calix is the leading global provider of the cloud and software platforms, systems, and services required to deliver the unified access network and smart premises of tomorrow. Calix's platforms and services help our customers build next generation networks by embracing a DevOps operating model, optimize the subscriber experience by leveraging big data analytics and turn the complexity of the smart, connected home and business into new revenue streams.

Company profile

Ticker
CALX
Exchange
Website
CEO
Carl Russo
Employees
Location
Fiscal year end
Former names
CALIX NETWORKS INC
SEC CIK
Subsidiaries
Calix Network Technology • Calix Networks UK, Ltd. • Calix Brasil Servicos Ltda. ...
IRS number
680438710

CALX stock data

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Press releases

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

27 Jul 21
19 Oct 21
31 Dec 21
Quarter (USD)
Jul 21 Apr 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Calix earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 58.59M 58.59M 58.59M 58.59M 58.59M 58.59M
Cash burn (monthly) 9.09M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 32.35M n/a n/a n/a n/a n/a
Cash remaining 26.24M n/a n/a n/a n/a n/a
Runway (months of cash) 2.9 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Oct 21 Shane Todd Marshall Eleniak Common Stock Sell Dispose S No Yes 58.605 25,000 1.47M 0
15 Oct 21 Shane Todd Marshall Eleniak Common Stock Option exercise Acquire M No Yes 5.95 25,000 148.75K 25,000
15 Oct 21 Shane Todd Marshall Eleniak Stock Option Common Stock Option exercise Dispose M No Yes 5.95 25,000 148.75K 75,000
30 Sep 21 Shane Todd Marshall Eleniak Common Stock Sell Dispose S No Yes 48.5 26,000 1.26M 0
30 Sep 21 Shane Todd Marshall Eleniak Common Stock Option exercise Acquire M No Yes 5.95 26,000 154.7K 26,000
30 Sep 21 Shane Todd Marshall Eleniak Stock Option Common Stock Option exercise Dispose M No Yes 5.95 26,000 154.7K 100,000
14 Aug 21 Weening Michael Common Stock Buy Acquire P No No 31.28 337 10.54K 13,922

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

78.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 183 199 -8.0%
Opened positions 23 48 -52.1%
Closed positions 39 41 -4.9%
Increased positions 59 50 +18.0%
Reduced positions 79 81 -2.5%
13F shares
Current Prev Q Change
Total value 2.41B 2.39B +0.8%
Total shares 49.65M 50.46M -1.6%
Total puts 647.4K 756.4K -14.4%
Total calls 531.8K 458.2K +16.1%
Total put/call ratio 1.2 1.7 -26.3%
Largest owners
Shares Value Change
BLK Blackrock 4.76M $226.27M -6.1%
Gilder Gagnon Howe & Co 3.42M $162.39M -0.9%
Vanguard 3.28M $155.96M -1.3%
Lord, Abbett & Co. 2.73M $129.91M -8.2%
Alliancebernstein 2.67M $126.63M +13.7%
Thrivent Financial For Lutherans 2.52M $119.7M +24.2%
Russo Carl 2.24M $66.64M 0.0%
Renaissance Technologies 2.07M $98.25M -13.9%
Dimensional Fund Advisors 1.84M $87.53M -5.1%
Driehaus Capital Management 1.82M $86.43M +7.0%
Largest transactions
Shares Bought/sold Change
Psagot Investment House 0 -856.31K EXIT
Altshuler Shaham 824.23K +824.23K NEW
BK Bank Of New York Mellon 1.73M +771.66K +80.7%
Masters Capital Management 0 -500K EXIT
Thrivent Financial For Lutherans 2.52M +491.46K +24.2%
Wellington Management 1.54M +489.65K +46.5%
Rothschild & Co Asset Management Us 478.43K +478.43K NEW
Acadian Asset Management 614.32K -353.32K -36.5%
Renaissance Technologies 2.07M -332.8K -13.9%
Alliancebernstein 2.67M +320.2K +13.7%

Financial report summary

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Competition
Cisco SystemsNokiaAdtranCIENAJuniper NetworksDZSCasa SystemsZteCommScope Holding
Risks
  • Our business and results of operations have been and are expected to continue to be negatively affected by the COVID-19 pandemic that has severely impacted the global economy.
  • We have risks associated with material dependencies on third-party vendors for our global supply chain operations that could disrupt our business and adversely impact our gross margin and results of operations.
  • Security breaches and data loss may expose us to liability, harm our reputation and adversely affect our business.
  • We are subject to business and operational risks associated with our international operations that could harm our business.
  • If we do not successfully execute on our business strategy to increase our sales to new and existing BSPs, our operating results, financial condition, cash flows and long-term growth may be negatively impacted.
  • If we do not successfully increase our sales through adoption of our platform offerings, our operating results, financial condition, cash flows and long-term growth may be negatively impacted.
  • We may have difficulty evolving and scaling our business and operations to meet customer and market demand, which could result in lower profitability or cause us to fail to execute on our business strategies.
  • We could become subject to litigation that could harm our business or negatively impact our results of operations.
  • We have a history of losses and fluctuations in our gross margin and operating results, which make it difficult to predict our future performance and could cause the market price of our stock to decline.
  • Historically, our customer base has been concentrated, and the loss of any of our key customers may adversely impact our revenue and results of operations, and any delays in payment by a key customer could negatively impact our cash flows and working capital.
  • We are exposed to customer credit risks that could adversely affect our operating results and financial condition.
  • Changing market and customer requirements may adversely affect the valuation of our inventory.
  • If we lose any of our key personnel, or are unable to attract, train and retain qualified personnel, our ability to manage our business and continue our growth would be negatively impacted.
  • If we experience disruptions with our enterprise resource planning system, we may not be able to effectively transact business or produce financial statements, which would adversely affect our business, results of operations and cash flows.
  • As a public company we are subject to significant accounting, legal and regulatory requirements; our failure to comply with these requirements may adversely affect our operating results and financial condition.
  • If we fail to maintain proper and effective internal controls, our ability to produce accurate financial statements on a timely basis could be impaired, which would adversely affect our operating results and our stock price.
  • Risks Related to Our Products
  • Our products are highly technical and may contain undetected hardware or software defects or software bugs, which could harm our reputation and adversely affect our business.
  • If we are unable to ensure that our products interoperate properly and as required within our customers’ networks, our business will be harmed.
  • Our estimates regarding warranty or product obligations are highly subjective. If our estimates change, the liability for warranty or product obligations may be increased, impacting future cost of revenue.
  • Our business and operations depend on proprietary technologies, and our financial performance may suffer if we cannot protect and enforce the intellectual property rights.
  • If we are unable to obtain third-party technology licenses needed for our products and platform solutions, our business and operations will be impaired, and our operating results could be adversely affected.
  • Our use of open source software could impose limitations on our ability to commercialize our products.
  • Macroeconomic and Industry Risks
  • Adverse global economic conditions, geopolitical issues and other conditions that impact our increasingly global operations could have a negative effect on our business, results of operations and financial condition and liquidity.
  • We face intense competition that could reduce our revenue and adversely affect our financial results.
  • Our industry is characterized by rapid technological advance, and if we fail to develop new products or enhancements that meet changing BSP requirements, we could experience lower sales.
  • Our sales cycles can be long and unpredictable, and our sales efforts require considerable time and expense. As a result, our sales are difficult to predict and may vary substantially, which may cause our operating results to fluctuate significantly.
  • Our business is dependent on the capital spending patterns and decisions of BSPs, and any decrease or delay in capital spending by BSPs, including due to the timing and availability of capital, would reduce our revenue and harm our business.
  • Government-sponsored programs and U.S. federal government shutdowns could impact the timing and buying patterns of BSPs, which may cause fluctuations in our operating results.
  • Government and Regulatory Risks
  • Increasing data privacy regulations could impact our business and expose us to increased liability.
  • If we fail to comply with evolving industry standards, sales of our products would be adversely affected.
  • Our failure or the failure of our manufacturers to comply with environmental and other legal regulations could adversely impact our results of operations.
  • We are subject to governmental export and import controls that could subject us to liability or impair our ability to compete in additional international markets.
  • Regulatory and physical impacts of climate change and other natural events may affect our customers and our manufacturers, resulting in adverse effects on our operating results.
  • Our customers are subject to government regulation, and changes in current or future laws or regulations that negatively impact our customers could harm our business.
  • Risks Related to Ownership of Our Common Stock
  • Our stock price may continue to be volatile, and the value of an investment in our common stock may decline.
  • If securities or industry analysts do not publish research or reports about our business or if they issue an adverse or misleading opinion regarding our stock, our stock price and trading volume could decline.
  • Provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable and may lead to entrenchment of our management and Board of Directors.
  • We may need additional capital in the future to finance our business.
  • Our ability to incur debt could be limited by covenants in our loan and security agreement for our revolving credit facility.
  • We do not currently intend to pay dividends on our common stock and, consequently, our stockholders’ ability to achieve a return on their investment will depend on appreciation in the price of our common stock.
  • Our failure to adequately address and resolve risks and uncertainties associated with acquisitions could have a material adverse impact on our financial condition and results of operations.
Management Discussion
  • Our revenue increased by $49.6 million and $110.0 million for the three and six months ended July 3, 2021, respectively, as compared to the corresponding periods in 2020 mostly due to higher systems revenue of $48.7 million and $107.5 million. Services revenue increased by $0.9 million and $2.5 million compared to the corresponding periods in 2020. The increase in systems revenue was primarily due to higher revenue from our small, regional customers and, to a lesser extent, our medium-sized customers, as service providers adopt our All Platform offerings and seek to provide a better Wi-Fi experience. The increase in services revenue was due to the continued ramp in our service offerings aligned with cloud and software products for their customers.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: agency, ago, attrition, BSP, disease, lifted, ransom, refund, resumed, Taiwan, tariffed
Removed: accelerated, arrangement, consulting, CSP, facilitate, led, mandatory, petition, relief, relieve, transmission, voluntary