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Dec 31, 2019
Cambium Networks Q4 2019 Earnings Report
Reported revenues of $64.1 million, a 1% increase year-over-year, with a net loss of $1.0 million, or $0.04 per diluted share.
Key Takeaways
Cambium Networks reported a slight increase in revenue and a net loss for Q4 2019. Revenue grew by 1% year-over-year, driven by growth in enterprise Wi-Fi and Point-to-Point products, offset by lower Point-to-Multi-Point revenues. The company's GAAP net loss was $1.0 million, or $0.04 per diluted share, while non-GAAP net income was $2.3 million, or $0.09 per diluted share.
Revenues increased 1% year-over-year.
Enterprise Wi-Fi revenues increased 186% year-over-year.
GAAP gross margin was 52.0%, up 390 basis points from Q4 2018.
Non-GAAP net income was $2.3 million, or $0.09 per diluted share.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the first quarter ending March 31, 2020, Cambium Networks expects GAAP revenues between $56.0-$60.0 million.
Positive Outlook
- GAAP revenues between $56.0-$60.0 million
- GAAP gross margin between 48.6%-50.2%; and non-GAAP gross margin between 49.0%-50.5%
- GAAP operating (loss) income between ($1.5)-$0.5 million; and non-GAAP operating income between $0.0-$2.0 million
- Adjusted EBITDA between $1.1-$3.1 million; and adjusted EBITDA margin between 2.0%-5.2%
- GAAP taxes between 19.0%-21.0%; and a non-GAAP effective tax rate of approximately 17.0%-19.0%
Challenges Ahead
- GAAP net loss between $3.0-$1.4 million or between $0.12 and $0.05 per diluted share; and non-GAAP net (loss) income between ($1.2)-$0.4 million or between ($0.05) and $0.02 per diluted share
- Paydown of debt: $2.5 million
- Interest expense: approximately $1.1 million
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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