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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.
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.comOther Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEurope, Middle East and Africa Revenue
CapyFin.comCaribbean and Latin America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com 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