Cambium Networks reports preliminary Q4 revenue ~$40M, below $45-50M outlook; CFO resigns

Cambium Networks Corp

2023-FY EPS reported -$2.81 vs consensus -$0.40 ▼ miss (-609.1%)

Revenue expected ~$40.0M vs prior outlook of $45.0-$50.0M (Nov 2, 2023).
Net loss and gross margin expected below low end of prior GAAP and non-GAAP ranges.
CFO Andrew Bronstein resigns eff. Feb 2, 2024; interim CFO John Becerril appointed.
Full year 2024 revenue guidance of $215M-$245M provided.
$11M revenue reduction for distributor incentives to clear inventory; cash ~$18M, no revolver draw.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Andrew Bronstein

Chief Financial Officer

CMBMF · Cambium Networks Corp

Effective: 2024-02-02
Successor: John Becerril
Filed: January 18, 2024, 6:59 PM ET

On January 16, 2024, Andrew Bronstein, Chief Financial Officer of Cambium Networks Corporation (the “Company”) notified the Company that he will resign as the Company’s Chief Financial Officer, effective February 2, 2024, in order to pursue other opportunities.

Appointed (interim)

John Becerril

interim Acting Chief Financial Officer

CMBMF · Cambium Networks Corp

Effective: 2024-02-02
Filed: January 18, 2024, 6:59 PM ET

On January 18, 2024, the Board of Directors of the Company appointed John Becerril, age 57, as interim Acting Chief Financial Officer and principal financial officer for the period between Mr. Bronstein’s resignation effective February 2, 2024 and the commencement of employment of a new Chief Financial Officer.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cambium Networks Corp reported full year 2024 results: revenue $215 million to $245 million. Guidance initiated.

Period: full year 2024
Revenue: $215 million to $245 million
Guidance: initiated
Result: guidance update

Exact text from the filing

The company expect full year 2024 revenues of between $215 million to $245 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cambium Networks Corp reported the fourth quarter 2023 ended December 31, 2023 results: revenue approximately $40.0 million. Guidance lowered.

Period: the fourth quarter 2023 ended December 31, 2023
Revenue: approximately $40.0 million
Guidance: lowered
Result: preliminary results

Exact text from the filing

Cambium Networks expects revenues of approximately $40.0 million compared to the previous outlook of $45.0-$50.0 million provided on Nov. 2, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew Bronstein resigned as Chief Financial Officer at Cambium Networks Corp.

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On January 16, 2024, Andrew Bronstein, Chief Financial Officer of Cambium Networks Corporation (the “Company”) notified the Company that he will resign as the Company’s Chief Financial Officer, effective February 2, 2024, in order to pursue other opportunities.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John Becerril was appointed as interim Acting Chief Financial Officer at Cambium Networks Corp.

Action: appointed
Role: interim Acting Chief Financial Officer

Exact text from the filing

On January 18, 2024, the Board of Directors of the Company appointed John Becerril, age 57, as interim Acting Chief Financial Officer and principal financial officer for the period between Mr. Bronstein’s resignation effective February 2, 2024 and the commencement of employment of a new Chief Financial Officer.

View on SEC.gov

23 earnings releases filed in the last 30 days. Browse all earnings releases →

Cambium Networks Corp filing history →

Source: SEC EDGAR

accession 0000950170-24-005376

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