Calix Limited (ASX:CXL)

Calix Limited, an Australian environmental technology company, reported a 21% increase in revenue for the first half of the financial year 2026, reaching $16.3 million compared to $13.5 million in the same period the previous year. The growth was largely driven by a 48% increase in their Magnesia business revenue. The company achieved a gross margin of 40% and a gross profit rise of 37% to $6.7 million. Net cash used in operating activities significantly decreased by 65%, and operating costs were reduced by 30% to $15.6 million. Key achievements include a new U.S. contract in the Magnesia business, potential $35 million value from a Joint Development Agreement with Rio Tinto for the Zesty Demonstration Project, and a grant from the Australian Renewable Energy Agency. Calix also announced the successful construction of the lithium Mid-Stream Demonstration Plant, marking their first commercial-scale electric plant. Looking forward, Calix aims for continued revenue growth, progressing financing for the Zesty Demonstration Plant, and advancing the commercialisation of its Leilac technology.