Cambium Networks Q3 revenue $43.7M, net loss $0.34/share; warns of covenant non-compliance

Cambium Networks Corp

2024-Q3 EPS reported -$1.62 vs consensus -$0.17 ▼ miss (-838.6%)

Revenue $43.7M (-5% seq); GAAP gross margin 39.9% vs 31.4% Q2; GAAP operating loss $8.1M.
Non-GAAP net loss $3.8M ($0.14/diluted share); adjusted EBITDA loss $2.3M (-5.3% of revenue).
Cash $46.5M; operating cash flow $8.9M; free cash flow $5.2M.
Not in compliance with quarterly consolidated EBITDA covenant as of Sep 30 and liquidity covenant as of Oct 31.
Q4 outlook: revenue $40-45M; GAAP operating loss $7-9M; seeking forbearance from lenders.

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