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Sep 30, 2023
Cambium Networks Q3 2023 Earnings Report
Cambium Networks reported a decrease in revenue and shifted to operating and net losses in Q3 2023.
Key Takeaways
Cambium Networks reported a challenging third quarter with a significant decrease in revenues, shifting from operating income to a substantial operating loss. The company faced headwinds including high channel inventories for Enterprise products, delayed government defense orders, and lower revenues in the Point-to-Multi-Point business.
Revenues decreased to $43.0 million, a 28% sequential decrease and a 47% year-over-year decrease.
GAAP net loss was $26.2 million, or a loss of $0.95 per diluted share; non-GAAP net loss was $12.1 million, or a loss of $0.44 per diluted share.
Adjusted EBITDA was a loss of $14.4 million, or -33.5% of revenues.
Net cash used in operating activities was $0.2 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the fourth quarter ending December 31, 2023, Cambium Networks expects revenues between $45.0 and $50.0 million.
Positive Outlook
- Revenues between $45.0-$50.0 million
- GAAP gross margin between 36.3%-43.3%
- Non-GAAP gross margin between 38.0%-45.0%
Challenges Ahead
- GAAP operating expenses between $29.8-$30.8 million
- Non-GAAP operating expenses between $25.7-$26.7 million
- GAAP net loss between $8.0 -$11.5 million or a net loss between $0.29 and $0.41 per diluted share
- Non-GAAP net loss between $4.0 -$7.5 million or a net loss between $0.14 and $0.27 per diluted share
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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