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Jun 30, 2021
Cambium Networks Q2 2021 Earnings Report
Cambium Networks reported record revenues, increased gross and operating margins, and record adjusted EBITDA.
Key Takeaways
Cambium Networks reported a strong second quarter with record revenues of $92.7 million, a 49% increase year-over-year, driven by high demand for fixed wireless broadband and enterprise Wi-Fi solutions. The company achieved record operating income and adjusted EBITDA, reflecting its success as a global wireless infrastructure leader.
Record revenues of $92.7 million, up 49% year-over-year.
GAAP net income of $11.5 million or $0.40 per diluted share, and record non-GAAP net income of $12.9 million or $0.45 per diluted share.
Record Adjusted EBITDA of $18.4 million or 19.9% of revenues.
Cambium shipped its 10 millionth radio since becoming a standalone company.
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 third quarter ending September 30, 2021 and full year ending December 31, 2021.
Positive Outlook
- Revenues between $88.0-$92.0 million for Q3 2021.
- GAAP gross margin between 48.3%-49.3% for Q3 2021.
- Non-GAAP gross margin between 48.5%-49.5% for Q3 2021.
- GAAP operating income between $8.9-$10.8 million for Q3 2021.
- Non-GAAP operating income between $11.8-$13.6 million for Q3 2021.
Challenges Ahead
- GAAP operating expenses between $33.6-$34.6 million for Q3 2021.
- Non-GAAP operating expenses between $30.9-$31.9 million for Q3 2021.
- Interest expense, net of approximately $1.0 million for Q3 2021.
- GAAP net income between $7.1-$8.5 million or between $0.25 and $0.29 per diluted share for Q3 2021.
- Non-GAAP net income between $8.6-$9.8 million or between $0.30 and $0.34 per diluted share for Q3 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income