Cambium Networks ( (CMBM) ) has released its Q3 earnings. Here is a breakdown of the information Cambium Networks presented to its investors.
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Cambium Networks Corporation is a provider of wireless and wired networking infrastructure solutions, aiming to deliver exceptional digital experiences and connectivity. The company operates in the technology sector, focusing on both network management and broadband solutions.
In its third quarter of 2024, Cambium Networks reported revenues of $43.7 million, marking a 5% sequential decline. Despite this, the company achieved higher gross margins, both GAAP and non-GAAP, compared to the previous quarter. However, it recorded a GAAP operating loss of $8.1 million and a net loss of $9.7 million.
Key financial metrics showed improvements, with non-GAAP gross margin rising to 42.3% and a 65% sequential improvement in adjusted EBITDA loss. The company also generated $8.9 million in net cash from operating activities, and its Enterprise portfolio continued to grow despite market challenges, offsetting some declines in other areas.
Looking ahead, Cambium Networks anticipates revenues of $40 million to $45 million for the fourth quarter of 2024, with expected improvements in gross margins and adjusted EBITDA losses. The company is actively working to address covenant compliance issues with its lenders to stabilize its financial position.
