NASDAQ$CMBMF
Cambium Networks Corporation · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Cambium Networks reported a decrease in revenue and shifted to operating and net losses in Q3 2023.
Cambium Networks reported a challenging third quarter with a significant decrease in revenues, shifting from operating income to a substantial operating loss. The company faced headwinds including high channel inventories for Enterprise products, delayed government defense orders, and lower revenues in the Point-to-Multi-Point business.
- Revenues decreased to $43.0 million, a 28% sequential decrease and a 47% year-over-year decrease.
- GAAP net loss was $26.2 million, or a loss of $0.95 per diluted share; non-GAAP net loss was $12.1 million, or a loss of $0.44 per diluted share.
- Adjusted EBITDA was a loss of $14.4 million, or -33.5% of revenues.
- Net cash used in operating activities was $0.2 million.
Headline financials
Revenue & EPS history
Cambium Networks · Revenue · Quarterly
$43M
Revenue by segment
Cambium Networks · $40.5M total across 3 segments · Q3 2023
- Point-to-Multi-Point$23.6M-9.6%58.2%
- Point-to-Point$15.8M+2.6%39.0%
- Other$1.14M-16.7%2.8%
Forward guidance
For the fourth quarter ending December 31, 2023, Cambium Networks expects revenues between $45.0 and $50.0 million.
Tailwinds
- Revenues between $45.0-$50.0 million
- GAAP gross margin between 36.3%-43.3%
- Non-GAAP gross margin between 38.0%-45.0%
Headwinds
- GAAP operating expenses between $29.8-$30.8 million
- Non-GAAP operating expenses between $25.7-$26.7 million
- GAAP net loss between $8.0 -$11.5 million or a net loss between $0.29 and $0.41 per diluted share
- Non-GAAP net loss between $4.0 -$7.5 million or a net loss between $0.14 and $0.27 per diluted share
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 Q3 2023
-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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