Calix, an environmental technology company, announced its results for FY24, showcasing revenue growth and operational achievements despite challenging market conditions.
The company reported a 30% increase in product and services revenue, totalling $24.2 million, compared to $18.6 million in FY23.
Additionally, Calix's gross profit rose 66%, reaching $10.3 million from $6.2 million in the previous financial year.
The growth was attributed to advancements in their core technology applications across various industries, including cement, steel, alumina, and direct air capture.
"Our diverse revenue streams and focused investment in technology development have positioned us well to support our operations and continue our mission of industrial decarbonisation," said Phil Hodgson, managing director and CEO of Calix.
The company has maintained a strong balance sheet with a cash balance of $43 million as of June 30, down just 10% from Dec. 31, 2023.
Calix is also leveraging investments in manufacturing plants and mid-stream demo projects to drive future growth, with construction already commenced on key projects.
Calix continues to expand its market presence globally with operational sites across five continents.
The company's strategic focus remains on commercialising its patented core platform technology, driving decarbonisation efforts and delivering sustainable environmental solutions.
Calix is an Australia-based environmental technology company engaged in solving global challenges in industrial decarbonisation and sustainability. Its segments include Leilac (a CO2 mitigation business), sustainable processing, advanced batteries and magnesia.
At the time of reporting, Calix's share price was $0.955.