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Jun 30, 2022
Cambium Networks Q2 2022 Earnings Report
Reported a significant improvement in financial results due to recovering supply chain and easing of Chinese government COVID lockdowns.
Key Takeaways
Cambium Networks reported Q2 2022 revenues of $69.3 million, a 12% sequential increase but a 25% year-over-year decrease. The company's GAAP net income was $2.3 million, or $0.08 per diluted share, while non-GAAP net income was $5.0 million, or $0.18 per diluted share. Adjusted EBITDA stood at $7.8 million, representing 11.3% of revenues.
Revenues of $69.3 million, increased 12% sequentially, and decreased 25% year-over-year
Enterprise Wi-Fi revenues of $24.0 million, increased 55% sequentially and 31% year-over-year
Operating income of $2.7 million, non-GAAP operating income of $6.3 million
Adjusted EBITDA of $7.8 million or 11.3% 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
For the third quarter ending September 30, 2022, Cambium Networks expects revenues between $72.0-$76.0 million, GAAP net income between $1.6-$2.9 million, and adjusted EBITDA between $7.0-$8.7 million.
Positive Outlook
- Revenues between $72.0-$76.0 million
- GAAP gross margin between 47.9%-48.9%; and non-GAAP gross margin between 48.5%-49.5%
- GAAP operating expenses between $32.0-$33.0 million; and non-GAAP operating expenses between $28.9-$29.9 million
- GAAP operating income between $2.5-$4.2 million; and non-GAAP operating income between $6.1-$7.8 million
- Adjusted EBITDA between $7.0-$8.7 million; and adjusted EBITDA margin between 9.8%-11.5%
Challenges Ahead
- Interest expense, net of approximately $0.5 million
- GAAP net income between $1.6-$2.9 million or between $0.06 and $0.10 per diluted share; and non-GAAP net income between $4.5-$5.8 million or between $0.16 and $0.20 per diluted share
- GAAP and non-GAAP effective tax rate of approximately 18.0%-20.0%
- Paydown of debt: $0.7 million
- Cash flow interest expense: approximately $0.5 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income