Fri, Feb 21, 9:14 PM (65 days ago)
**Calix, Inc. (CALX) 2024 10-K Summary** For the fiscal year ended December 31, 2024, Calix, Inc. reported a significant revenue decline of 20% to $831.5 million, primarily due to decreased purchases from large and medium-sized customers as they reassessed investment priorities amidst changing market conditions. Gross profit decreased to $453.6 million, with an improved gross margin of 54.6% attributed to a shift in sales towards higher-margin small customers and growth in cloud and managed services. Operating expenses increased slightly to $496.6 million, with notable rises in sales and marketing (26% of revenue) and research and development (22% of revenue). The net loss for 2024 was $29.7 million, compared to a net income of $29.3 million in 2023, reflecting challenges in customer spending patterns and delayed purchasing decisions. Calix's strategic focus remains on expanding its broadband platform and managed services to a diverse customer base, including municipalities and fiber overbuilders. Key risks include reliance on a limited number of suppliers, potential disruptions in the supply chain, and competitive pressures in the broadband market. The company maintains a robust cash position of $297.1 million, which it aims to utilize for growth initiatives while navigating a challenging economic landscape.