• Revenue growth of 17% to $28.2m, with 39% gross margin
• Costs reduced by 23% in 2H FY25, with $2m in annualised savings
• Cash runway extended to 18 months with $23m balance

Calix Limited has reported its FY25 results, highlighting revenue growth of 17% to $28.2 million, with a 39% gross margin. The company's Magnesia business saw a 16% increase in revenue, while Leilac services revenue grew 19%. Calix has implemented cost-saving measures, reducing its operating costs by 23% in the second half of FY25 compared to the first half, with annualised savings of $8 million. This has extended the company's cash runway to 18 months, with a $23 million cash balance at 30 June 2025. Calix continues to progress key projects, including securing a $15 million grant for its PLS Joint Venture, executing a $44.9 million ARENA grant for the ZESTY Green Iron Demonstration Plant, and successfully upgrading and testing the Leilac-1 pilot plant. The company is targeting continued revenue growth, reduced capital expenditure, and ongoing cost management in FY26, with priorities including completing the lithium Mid-Stream Demonstration Plant, the ZESTY Demonstration Plant, and the Leilac-2 project.

Calix is targeting continued revenue growth, with contributions from all lines of business, and significantly reduced expected Group capital expenditure in FY26.

Calix is aiming to complete construction of the lithium Mid-Stream Demonstration Plant, the ZESTY Demonstration Plant, and commence construction of Leilac-2 in FY26. The company is also targeting the completion of Front-End Engineering Design for Project ZETA.