Cambium Networks Corporation · Q1 2024 earnings

Briefing

Reported a sequential increase in revenue, driven by enterprise recovery and reduced channel inventories, but experienced a year-over-year revenue decrease due to lower revenues across all product families.

Cambium Networks reported Q1 2024 financial results with revenues of $42.3 million, a 5% sequential increase but a 45% year-over-year decrease. The company experienced a GAAP net loss of $26.4 million, or $0.95 per diluted share, and a non-GAAP net loss of $12.7 million, or $0.46 per diluted share. Adjusted EBITDA was a loss of $15.5 million, or (36.7)% of revenues.

• Revenues increased 5% sequentially but decreased 45% year-over-year, totaling $42.3 million.
• GAAP net loss was $26.4 million, or $0.95 per diluted share; non-GAAP net loss was $12.7 million, or $0.46 per diluted share.
• Adjusted EBITDA was a loss of $15.5 million, representing (36.7)% of revenues.
• Net cash used in operating activities was $15.6 million.

Headline financials

Revenue & EPS history

For the second quarter ending June 30, 2024, Cambium Networks anticipates revenues between $43.0 and $48.0 million, a GAAP gross margin between 37.9% and 39.9%, and a GAAP operating loss between $9.6 and $11.4 million.