NASDAQ$CMBMF
Cambium Networks Corporation · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported a significant improvement in financial results due to recovering supply chain and easing of Chinese government COVID lockdowns.
Cambium Networks reported Q2 2022 revenues of $69.3 million, a 12% sequential increase but a 25% year-over-year decrease. The company's GAAP net income was $2.3 million, or $0.08 per diluted share, while non-GAAP net income was $5.0 million, or $0.18 per diluted share. Adjusted EBITDA stood at $7.8 million, representing 11.3% of revenues.
- Revenues of $69.3 million, increased 12% sequentially, and decreased 25% year-over-year
- Enterprise Wi-Fi revenues of $24.0 million, increased 55% sequentially and 31% year-over-year
- Operating income of $2.7 million, non-GAAP operating income of $6.3 million
- Adjusted EBITDA of $7.8 million or 11.3% of revenues
Headline financials
Revenue & EPS history
Cambium Networks · Revenue · Quarterly
$69.3M
Revenue by segment
Cambium Networks · $69.3M total across 4 segments · Q2 2022
- Point-to-Multi-Point$28.3M-52.7%40.8%
- Enterprise$24M+31.2%34.7%
- Point-to-Point$15.7M+11.5%22.6%
- Other$1.33M+141.6%1.9%
Forward guidance
For the third quarter ending September 30, 2022, Cambium Networks expects revenues between $72.0-$76.0 million, GAAP net income between $1.6-$2.9 million, and adjusted EBITDA between $7.0-$8.7 million.
Tailwinds
- Revenues between $72.0-$76.0 million
- GAAP gross margin between 47.9%-48.9%; and non-GAAP gross margin between 48.5%-49.5%
- GAAP operating expenses between $32.0-$33.0 million; and non-GAAP operating expenses between $28.9-$29.9 million
- GAAP operating income between $2.5-$4.2 million; and non-GAAP operating income between $6.1-$7.8 million
- Adjusted EBITDA between $7.0-$8.7 million; and adjusted EBITDA margin between 9.8%-11.5%
Headwinds
- Interest expense, net of approximately $0.5 million
- GAAP net income between $1.6-$2.9 million or between $0.06 and $0.10 per diluted share; and non-GAAP net income between $4.5-$5.8 million or between $0.16 and $0.20 per diluted share
- GAAP and non-GAAP effective tax rate of approximately 18.0%-20.0%
- Paydown of debt: $0.7 million
- Cash flow interest expense: approximately $0.5 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2022
-2.9%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-0.4%
Avg return
30 days after
39%
11 / 28 earnings
Positive
+20.7%
Q3 2022
Best reaction
-29.8%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +11.8% | +11.8% | — | |
| Q3 2025 | +0.0% | +158.7% | +180.0% | |
| Q2 2025 | -5.6% | -21.8% | -31.1% | |
| Q1 2025 | -7.4% | -5.6% | +10.7% | |
| Q4 2024 | -13.8% | -0.8% | -27.2% | |
| Q3 2024 | -9.9% | -3.1% | -24.4% | |
| Q2 2024 | -4.0% | -6.2% | -5.6% | |
| Q1 2024 | -13.9% | -13.5% | -24.0% | |
| Q4 2023 | +5.5% | -3.9% | +0.5% | |
| Q3 2023 | -3.0% | -8.9% | +0.6% | |
| Q2 2023 | -29.8% | -38.5% | -43.1% | |
| Q1 2023 | -0.3% | +3.0% | +22.9% | |
| Q4 2022 | +4.1% | -5.2% | -18.0% | |
| Q3 2022 | +20.7% | +17.9% | +21.4% | |
| Q2 2022 | +0.1% | +1.7% | -3.9% | |
| Q1 2022 | -19.0% | -17.6% | -14.0% | |
| Q4 2021 | +12.9% | +3.9% | +3.7% | |
| Q3 2021 | -7.8% | -7.1% | -19.4% | |
| Q2 2021 | +1.6% | -12.4% | -19.7% | |
| Q1 2021 | +3.2% | -13.2% | -15.2% | |
| Q4 2020 | +3.5% | +4.3% | +19.0% | |
| Q3 2020 | +14.7% | -0.3% | +14.4% | |
| Q2 2020 | +4.5% | +4.8% | +12.2% | |
| Q1 2020 | -17.8% | -25.3% | +0.9% | |
| Q4 2019 | -6.1% | -12.9% | -34.2% | |
| Q3 2019 | -16.5% | -15.3% | -31.2% | |
| Q4 2018 | -4.2% | +1.1% | +12.8% | |
| Q2 2019 | -4.9% | -8.9% | +1.7% | |
| Q1 2019 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q1 2017 | — | — | — |
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