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Mar 31, 2021
Cambium Networks Q1 2021 Earnings Report
Cambium Networks reported record revenues and net income driven by strong demand for wireless broadband connectivity.
Key Takeaways
Cambium Networks reported record revenues of $88.5 million, a 46% increase year-over-year. Record net income was $19.9 million, or $0.70 per diluted share. The company's performance was driven by robust demand for wireless broadband connectivity and the acceptance of new product introductions.
Revenues reached a record $88.5 million, up 46% year-over-year.
GAAP net income was a record $19.9 million, or $0.70 per diluted share.
Non-GAAP net income was a record $11.7 million, or $0.41 per diluted share.
Adjusted EBITDA reached a record $16.5 million, representing 18.6% of revenues.
Cambium Networks
Cambium Networks
Cambium Networks Revenue by Segment
Cambium Networks Revenue by Geographic Location
Revenue by Segment
Point-to-Multi-Point Revenue
CapyFin.comPoint-to-Point Revenue
CapyFin.comWi-Fi Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comCaribbean and Latin America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
Cambium Networks provided financial outlook for the second quarter ending June 30, 2021, and full year ending December 31, 2021.
Positive Outlook
- Revenues between $85.0-$90.0 million for Q2 2021
- GAAP gross margin between 48.8%-49.8% for Q2 2021
- Non-GAAP gross margin between 49.0%-50.0% for Q2 2021
- GAAP operating income between $8.6-$11.0 million for Q2 2021
- Non-GAAP operating income between $11.4-$13.8 million for Q2 2021
Challenges Ahead
- GAAP operating expenses between $32.9-$33.9 million for Q2 2021
- Non-GAAP operating expenses between $30.2-$31.2 million for Q2 2021
- Interest expense, net of approximately $1.1 million for Q2 2021
- GAAP net income between $6.3-$8.0 million, or between $0.22 and $0.27 per diluted share for Q2 2021
- Non-GAAP net income between $8.6-$10.3 million, or between $0.29 and $0.35 per diluted share for Q2 2021
Revenue & Expenses
Visualization of income flow from segment revenue to net income