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Jun 30, 2024
Cambium Networks Q2 2024 Earnings Report
Cambium Networks' financial performance improved with sequential revenue growth and margin expansion
Key Takeaways
Cambium Networks reported a 9% sequential increase in revenues to $45.9 million for Q2 2024. Gross margins improved, and the company generated positive cash from operations. The Enterprise and Point-to-Multi-Point businesses showed strength. Cambium expects continued financial improvements throughout 2024 by controlling costs and enhancing operating efficiency.
Revenues increased 9% sequentially to $45.9 million.
GAAP gross margin was 31.4%, and non-GAAP gross margin was 33.5%.
GAAP net loss was $9.1 million, or $0.33 per diluted share; non-GAAP net loss was $7.1 million, or $0.25 per diluted share.
Net cash provided by operating activities was $2.4 million, with $42.6 million in cash on the balance sheet.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the third quarter ending September 30, 2024, Cambium Networks anticipates revenues between $43.0-$48.0 million, GAAP gross margin between 39.5%-41.5%, GAAP operating loss between $7.7-$9.7 million, and GAAP net loss between $8.0-$9.7 million.
Positive Outlook
- Revenues between $43.0-$48.0 million
- GAAP gross margin between 39.5%-41.5%; and non-GAAP gross margin between 41.5%-43.5%
- GAAP operating expenses between $26.6-$27.6 million; and non-GAAP operating expenses between $23.4-$24.4 million
- Interest expense, net, of approximately $1.6 million
- GAAP effective tax rate not meaningful; and a non-GAAP effective tax benefit of approximately 25%
Challenges Ahead
- GAAP operating loss between $7.7-$9.7 million; and non-GAAP operating loss between $3.6-$5.6 million
- GAAP net loss between $8.0-$9.7 million or a net loss between $0.28 and $0.34 per diluted share; and non-GAAP net loss between $3.8-$5.4 million or a net loss between $0.14 and $0.19 per diluted share
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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