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Dec 31, 2022
Cambium Networks Q4 2022 Earnings Report
Reported an increase in revenues and solid profitability, driven by growth in North America and Point-to-Point business.
Key Takeaways
Cambium Networks reported Q4 2022 financial results with revenues of $84.5 million, a 7% increase year-over-year. The company's GAAP net income was $10.0 million, or $0.35 per diluted share, and non-GAAP net income was $10.3 million, or $0.36 per diluted share. The company expects to grow revenues and increase profitability in 2023.
Revenues of $84.5 million, increased 4% sequentially, and 7% year-over-year
North America revenues of $44.4 million, grew 47% sequentially, and increased 33% year-over-year
Gross margin of 49.0%, non-GAAP gross margin of 49.6%
Operating income of $9.5 million, non-GAAP operating income of $13.2 million
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the first quarter of 2023, Cambium Networks expects revenues between $74.0-$80.0 million, GAAP gross margin between 48.5%-50.1%, and GAAP net income between $1.2-$4.0 million, or between $0.04 and $0.14 per diluted share.
Positive Outlook
- Revenues between $74.0-$80.0 million, up approximately 20%-29% year-over-year
- GAAP gross margin between 48.5%-50.1%; and non-GAAP gross margin between 49.2%-50.8%
- GAAP operating income between $2.0-$5.2 million; and non-GAAP operating income between $5.8-$9.0 million
- GAAP net income between $1.2-$4.0 million or between $0.04 and $0.14 per diluted share; and non-GAAP net income between $4.1-$6.8 million or between $0.14 and $0.23 per diluted share
- Adjusted EBITDA between $6.8-$10.0 million; and adjusted EBITDA margin between 9.2%-12.5%
Challenges Ahead
- GAAP operating expenses between $33.9-$34.9 million; and non-GAAP operating expenses between $30.6-$31.6 million
- Interest expense, net of approximately $0.6 million
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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