Cambium Networks cuts Q1 2022 revenue outlook to $61-63M from prior $77.5-81.5M due to China lockdowns

Cambium Networks Corp

2022-Q1 EPS reported -$0.06 revenue$61,896,000

Preliminary Q1 2022 GAAP revenue expected at $61-63M versus prior guidance of $77.5-81.5M.
Two unexpected COVID lockdowns: Shenzhen factory in mid-March and Shanghai warehouse in last two weeks.
Net income expected below the low-end of both GAAP and non-GAAP guidance ranges.
Cash balance approximately $38M as of end of Q1.
Some Q2 revenue recovery expected if lockdowns reverse; backlog up 10% YoY.

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