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Jun 30, 2020
Cambium Networks Q2 2020 Earnings Report
Cambium Networks reported financial results for the second quarter 2020.
Key Takeaways
Cambium Networks reported revenues of $62.3 million, a net income of $3.3 million, and adjusted EBITDA of $7.7 million, representing 12.3% of revenues. The company saw a sequential increase in revenues driven by higher Point-to-Multi-Point revenues.
Revenues of $62.3 million, up 3% sequentially
GAAP net income of $3.3 million or $0.13 per diluted share, non-GAAP net income of $4.3 million or $0.16 per diluted share
Adjusted EBITDA of $7.7 million or 12.3% of revenues
Net cash provided by operating activities $26.2 million
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.comEurope, Middle East and Africa Revenue
CapyFin.comCaribbean and Latin America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
For the third quarter ending September 30, 2020, Cambium Networks expects revenues between $64.0-$67.0 million, GAAP gross margin between 48.7%-49.7%, and adjusted EBITDA between $6.4-$7.4 million.
Positive Outlook
- Revenues between $64.0-$67.0 million
- GAAP gross margin between 48.7%-49.7%; and non-GAAP gross margin between 49.0%-50.0%
- GAAP operating income between $3.7-$4.7 million; and non-GAAP operating income between $5.3-$6.4 million
- GAAP net income between $1.9-$2.5 million or between $0.07 and $0.09 per diluted share; and non-GAAP net income between $3.2-$3.8 million or between $0.12 and $0.14 per diluted share
- Adjusted EBITDA between $6.4-$7.4 million; and adjusted EBITDA margin between 10.0%-11.1%
Challenges Ahead
- GAAP taxes between 16.0%-19.0%; and a non-GAAP effective tax rate of approximately 17.0%-19.0%
- Approximately 26.6 million weighted average diluted shares outstanding
- Paydown of debt: $2.5 million
- Interest expense: approximately $0.9 million
- Capital expenditures: $0.9-$1.1 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income