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Dec 31, 2023
Cambium Networks Q4 2023 Earnings Report
Reported a decrease in revenue and a net loss, impacted by enterprise business incentives and discounts.
Key Takeaways
Cambium Networks reported a challenging Q4 2023, with revenues of $40.2 million, a 52% decrease year-over-year. The company experienced a GAAP net loss of $39.0 million, or $1.41 per diluted share, and a non-GAAP net loss of $26.4 million, or $0.95 per diluted share. The revenue shortfall was attributed to incentives and discounts provided to distributors related to the Enterprise business, as well as slowing economies and lower Point-to-Multi-Point revenues.
Revenues decreased 52% year-over-year to $40.2 million.
GAAP net loss was $39.0 million, or $1.41 per diluted share.
Non-GAAP net loss was $26.4 million, or $0.95 per diluted share.
Adjusted EBITDA loss was $32.9 million, or (81.8)% of revenues.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the first quarter of 2024, Cambium Networks anticipates revenues between $43.0 and $48.0 million, GAAP gross margin between 39.3% and 42.3%, and a GAAP operating loss between $9.2 and $11.6 million.
Positive Outlook
- Revenues between $43.0-$48.0 million
- GAAP gross margin between 39.3%-42.3%
- Non-GAAP gross margin between 41.0%-44.0%
- GAAP operating expenses between $28.5-$29.5 million
- Non-GAAP operating expenses between $25.4-$26.4 million
Challenges Ahead
- GAAP operating loss between $9.2-$11.6 million
- Non-GAAP operating loss between $5.3-$7.8 million
- GAAP net loss between $8.6-$11.0 million or a net loss between $0.31 and $0.39 per diluted share
- Non-GAAP net loss between $6.1-$8.6 million or a net loss between $0.22 and $0.31 per diluted share
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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