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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
Revenue by Segment
Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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