Cambium Networks pre-announces Q3 revenue of $40-45M, well below prior outlook; suspends FY2023 guidance

Cambium Networks Corp

2023-Q3 EPS reported -$0.89 revenue$179,989,000

Preliminary Q3 revenue $40-45M vs. prior outlook of $62-70M provided Aug 1, 2023.
Net income and EPS expected below low end of previous GAAP and non-GAAP ranges.
Reasons: US federal budget delay on Point-to-Point orders; sluggish 6GHz product ramp; distributor destocking in Enterprise; EMEA headwinds.
Point-of-sale revenue significantly higher than reported revenue, indicating channel inventory reduction.
Cash ~$27M with $45M unused revolving credit line; full earnings call set for Nov 2, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cambium Networks Corp updated its the three-month period ended September 30, 2023 guidance (lowered).

Period: the three-month period ended September 30, 2023
Guidance: lowered
Result: preliminary results

Exact text from the filing

On October 4, 2023, Cambium Networks Corporation (the "Company") issued a press release announcing certain preliminary financial results for the three-month period ended September 30, 2023.

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Source: SEC EDGAR

accession 0000950170-23-051931

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