• Revenue growth continues, with Magnesia up 8% and Leilac services up 26%
• $6m in annualised cost savings from restructuring, with one-off costs of $3m
• $35.8m cash balance at 31 Dec 2024, strengthened by $20m placement and $2.1m SPP

Calix Limited (ASX: CXL) has reported its 1H FY25 results, highlighting continued revenue growth, a reduced cost base, and a strengthened balance sheet. The company's product and services revenue grew 11% to $13.5m, with Magnesia revenue up 8% to $10.7m and Leilac services revenue up 26% to $2.9m. Calix also recorded a non-cash gain of $8.8m on its investment in the PLS UJV. To sharpen its focus, Calix implemented a restructuring that will deliver $6m in annualised cost savings, with one-off costs of $3m incurred in the period. The company's cash balance at 31 December 2024 was $35.8m, which was bolstered by a $20m institutional placement and a $2.1m share purchase plan after the balance date. Calix is well-positioned to pursue its independently funded projects and subsidiary-level capital raisings, with an expected 18-month cash runway.