NASDAQ$CMBMF
Cambium Networks Corporation · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported an increase in revenues and solid profitability, driven by growth in North America and Point-to-Point business.
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
Headline financials
Revenue & EPS history
Cambium Networks · Revenue · Quarterly
$84.5M
Revenue by segment
Cambium Networks · $52.5M total across 3 segments · Q4 2022
- Point-to-Multi-Point$29.7M-19.9%56.5%
- Point-to-Point$21.3M+38.8%40.5%
- Other$1.58M+170.6%3.0%
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.
Tailwinds
- 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%
Headwinds
- 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
- GAAP effective tax rate of approximately 11.0%-15.0%; and non-GAAP effective tax rate of approximately 17.0%-21.0%
- Approximately 28.9 million weighted average diluted shares outstanding
- Capital expenditures: $3.0-$4.0 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 Q4 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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