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Dec 31, 2021
Cambium Networks Q4 2021 Earnings Report
Reported a decrease in revenue year-over-year, but an increase sequentially, driven by enterprise Wi-Fi growth amidst supply chain constraints.
Key Takeaways
Cambium Networks reported Q4 2021 financial results with revenues of $78.7 million, a decrease of 5% year-over-year. Despite revenue decline, the company saw strong growth in enterprise Wi-Fi revenues, which increased 136% year-over-year. The company is working through supply chain issues which they expect to substantially improve during the second half of calendar 2022.
Revenues decreased 5% year-over-year to $78.7 million.
Enterprise Wi-Fi revenues increased 136% year-over-year to $25.8 million.
GAAP net income was $1.4 million, or $0.05 per diluted share.
Adjusted EBITDA was $6.7 million, or 8.6% of revenues.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the first quarter ending March 31, 2022, Cambium Networks expects revenues between $77.5-$81.5 million, GAAP operating income between $1.1-$3.1 million, and adjusted EBITDA between $5.2-$7.2 million.
Positive Outlook
- Revenues between $77.5-$81.5 million
- GAAP gross margin between 44.0%-45.5%; and non-GAAP gross margin between 44.4%-45.9%
- GAAP operating expenses between $33.0-$34.0 million; and non-GAAP operating expenses between $30.2-$31.2 million
- GAAP operating income between $1.1-$3.1 million; and non-GAAP operating income between $4.2-$6.2 million
- Adjusted EBITDA between $5.2-$7.2 million; and adjusted EBITDA margin between 6.7%-8.8%
Challenges Ahead
- Interest expense, net of approximately $0.7 million
- GAAP net income between $0.3-$1.9 million or between $0.01 and $0.07 per diluted share; and non-GAAP net income between $2.9-$4.4 million or between $0.10 and $0.15 per diluted share
- GAAP and non-GAAP effective tax rate of approximately 18.0%-20.0%
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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