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Calix Ltd ASX:CXL

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

31 Dec 2025 to today

Commentary Showing 2 of 4

DateManagerActionSummary

31 Jul 2026Perennial PartnersHeldPerennial Partners continues to hold Calix after the company received its second and final $5.7 million cash payment from Pilbara Minerals as commissioning of Pilbara's Mid-Stream Plant proceeds on schedule, demonstrating Calix's electric calcination technology for lithium spodumene processing. The manager notes the technology could significantly reduce emissions associated with lithium production and add value to mineral exports through increased domestic processing, with successful full heat cycles completed and first spodumene calcination and lithium phosphate production expected before the end of September.

Monthly Report, price recorded $0.36

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30 Jun 2026Perennial PartnersHeldPerennial Partners continues to hold Calix despite it being a negative relative contributor this month, down 15.5%, because the manager views several announcements during the period as generally positive. Calix signed a joint development agreement with Ambuja Cements for a commercial-scale carbon capture retrofit at a cement plant in Gujarat, India, targeting over 1 million tonnes of CO2 captured annually, and secured a new East Asian customer for a paid engineering study targeting roughly 100,000 tonnes per annum of process CO2 capture, both supporting the long-term Leilac technology growth thesis.

Monthly Report, price recorded $0.41

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on CXL.

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About Calix Ltd

Information Technology, Chemicals

Calix (ASX:CXL), an industrial technology company, has been volatile as it commercialises its platforms. In July 2026, Perennial Partners noted Calix received the second and final $5.7 million payment from Pilbara Minerals as commissioning of their lithium project progressed. In June, Perennial highlighted significant announcements, including a joint development agreement with Ambuja Cements, while in March Calix fell 43% despite signing a tolling agreement with Green 360 Technologies. Calix operates in the Materials sector within the Chemicals industry, and Thesis Tracker has captured 4 comments from 1 fund manager, Perennial Partners. Founded in 2005 and headquartered in Pymble, Sydney, Calix develops patented kiln technology for decarbonising cement, lime and steel production, lithium processing and battery materials, along with magnesium hydroxide products for water treatment, aquaculture and agriculture, and is pursuing partnerships to commercialise its Leilac carbon capture technology.

Market cap: $48m
Price to earnings: Loss-making
Return on equity: 0.0%
Dividend yield: 0.0%
Price to book: 0.00x
Net margin: 0.0%
52-week range: $0.21 to $1.77

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Calix Ltd (ASX:CXL)?

Fund managers including Perennial Partners have invested in Calix Ltd (ASX:CXL).

What opportunities or catalysts do fund managers highlight for Calix Ltd?

Perennial highlights milestone payments from Pilbara Minerals, a joint development agreement with Ambuja Cements and new commercial agreements for its technology.

What are the key risks to the Calix Ltd investment thesis, according to fund managers?

Perennial notes a 43% share price fall despite positive news, showing volatility and uncertainty about the pace of commercialisation.

What does Calix Ltd (ASX:CXL) do?

Calix Ltd. is an Australian technology company, founded in 2005 and headquartered in Pymble, specializing in patent-protected platform technologies for industrial materials and sustainable processes. Its product portfolio includes ACTI-Mag, AQUA-Cal+, PROTECTA-Mag, and BOOSTER-Mag. The company operates through three key segments: LEILAC, focused on CO2 mitigation in Europe and the United States; the US water business line; and Australian & SE Asian operations. Calix develops solutions to address global environmental and industrial challenges through its proprietary process technology.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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