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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.
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.comEurope, Middle East and Africa Revenue
CapyFin.comCaribbean and Latin America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com 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
- Capital expenditures: $1.0-$1.3 million
- Pre-tax restructuring charges: $0.8-$0.9 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income