Did you analyze how Cambium (CMBM) fared in its international operations for the quarter ending June 2024? Given the widespread global presence of this company, scrutinizing the trends in international revenues becomes imperative to assess its financial strength and future growth possibilities. The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become essential for investors t ...

Financial Performance - Total revenue for Q2 2024 was $45.9 million, a decrease of 23% year-over-year[84]. - Gross margin for Q2 2024 was 31.4%, down from 49.1% in Q2 2023[93]. - Operating loss for Q2 2024 was $12.1 million, compared to a loss of $2.7 million in Q2 2023[92]. - Revenues decreased by $13.6 million, or 22.8%, to $45.9 million for the three-month period ended June 30, 2024, compared to $59.5 million for the same period in 2023[94]. - Revenues for the six-month period ended June 30, 2024, decreased by $48.7 million, or 35.5%, to $88.3 million, with the largest decrease in the enterprise product category[108]. - Total revenues decreased by $48.7 million, or 35.5%, from $136.9 million for the six months ended June 30, 2023 to $88.3 million for the same period in 2024[109]. - Gross margin decreased to 26.2% for the six months ended June 30, 2024, down from 50.3% for the same period in 2023, reflecting increased costs and lower revenues from higher margin products[115][116]. Revenue Breakdown - Point-to-Multi-Point revenues decreased by $7.1 million, or 26.5%, driven by lower demand from service providers transitioning to 6 GHz products[96]. - Point-to-Point revenues decreased by $11.4 million, or 45.5%, primarily due to lower demand for defense products in North America[97]. - Enterprise revenues increased by $4.9 million, or 76.2%, with significant growth in Europe, Middle East, and Africa[98]. - North America revenues decreased by $18.9 million, or 47.8%, while Europe, Middle East, and Africa revenues increased by $8.2 million, or 121.6%[99]. - Point-to-Multi-Point revenues decreased by $10.0 million, or 20.3%, primarily due to lower demand from service providers in North America[110]. - Point-to-Point revenues decreased by $15.0 million, or 34.9%, mainly driven by lower demand for defense products in North America[111]. - Enterprise revenues decreased by $23.6 million, or 56.1%, with significant declines in North America and Europe, Middle East, Africa[112]. - North America revenues decreased by $41.4 million, or 47.5%, largely due to lower demand for defense and licensed microwave products[113]. Expenses and Costs - Cambium's cost of revenues increased to $31.5 million in Q2 2024, leading to a gross profit of $14.4 million[92]. - Cost of revenues increased by $1.2 million, or 4.1%, to $31.5 million, primarily due to a $4.6 million loss on supplier commitment charges[100]. - Total operating expenses decreased by $5.4 million, or 17.0%, to $26.5 million, with research and development expenses down by 29.7%[102]. - Research and development expenses for Q2 2024 were $9.1 million, representing 19.9% of total revenues[93]. - Research and development expenses decreased by $7.3 million, or 26.9%, to $20.0 million, primarily due to lower staff-related costs and restructuring activities[117]. Interest and Debt - Interest expense increased by $0.7 million, or 125.2%, to $1.3 million, primarily due to higher interest rates on loans[105]. - Interest expense increased by $1.0 million, or 85.8%, to $2.2 million, attributed to higher interest rates on loans[120]. - As of June 30, 2024, the company had $24.1 million outstanding on its term loan facility and $45.0 million on its revolving credit facility, with effective interest rates of 9.17% and 8.67% respectively[127]. - The company’s long-term debt increased by $5.0 million to $45.0 million due to additional drawdowns on the revolving credit facility[128]. - A hypothetical 100-basis point increase in interest rates would result in an additional $0.2 million in interest expense for the term credit facility and $0.5 million for the revolving credit facility per year[133]. Cash Flow and Liquidity - As of June 30, 2024, the company had a cash balance of $42.6 million, an increase of $23.9 million from December 31, 2023[122]. - The company expects to regularly assess liquidity needs and may raise additional equity or incur additional debt as necessary[123]. - Net cash used in operating activities for the six-month period ended June 30, 2023 was $10.5 million, consisting of net income of $1.6 million and significant cash outflows due to inventory increases and changes in operating assets and liabilities[124]. - For the six-month period ended June 30, 2024, net cash used in operating activities increased to $13.2 million, primarily due to a net loss of $35.6 million and changes in operating assets and liabilities[124]. - Cash used in investing activities increased from $5.6 million for the six months ended June 30, 2023 to $7.2 million for the same period in 2024, mainly due to leasehold improvements at the new headquarters[125]. - Net cash provided by financing activities for the six-month period ended June 30, 2024 was $44.3 million, primarily from a $45.0 million drawdown on the revolving credit facility[126]. Market and Economic Conditions - The company is facing macroeconomic challenges, including higher interest rates and concerns about a global economic slowdown[82]. - The company is adjusting its manufacturing strategy to reduce reliance on third-party manufacturers in China due to nationalistic trends[83]. - There were no significant changes to the company's market risk for the three-month period ended June 30, 2024, with exposure to fluctuations in foreign currency exchange rates remaining a concern[131]. - The company has not entered into any foreign currency hedging transactions, maintaining a straightforward approach to managing currency risk[131]. - Inventory levels at distributors have improved, but may remain lower than historical levels, potentially delaying revenue recovery[80]. Product Development - The introduction of the first Wi-Fi 7 access point, XV7-35X, is part of Cambium's strategy to expand its product offerings[79].

Cambium Networks Corporation (CMBM) reported soft second-quarter 2024 results, with the top and bottom lines missing the respective Zacks Consensus Estimate. The leading wireless solutions provider recorded a yearover-year revenue contraction due to a decline in net sales, high inventory levels and macroeconomic headwinds. High incentives and discounts to distributors also hurt revenues. Net Income On a GAAP basis, the company reported a net loss of $9.1 million or a loss of 33 cents per share compared with ...

Cambium Networks Corporation (NASDAQ:CMBM) Q2 2024 Results Conference Call August 8, 2024 4:30 PM ET Company Participants Peter Schuman - VP, Investor, Industry Analysts and Public Relations Morgan Kurk - President and CEO Jacob Sayer - CFO Conference Call Participants Scott Searle - Roth Capital Simon Leopold - Raymond James Operator Good afternoon. My name is Steven, and I will be your conference operator today. At this time, I would like to welcome everyone to the Cambium Networks’ Second Quarter 2024 Fi ...

Cambium (CMBM) reported $45.95 million in revenue for the quarter ended June 2024, representing a yearover-year decline of 22.8%. EPS of -$0.25 for the same period compares to $0.03 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $45.92 million, representing a surprise of +0.06%. The company delivered an EPS surprise of -19.05%, with the consensus EPS estimate being -$0.21. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...

Core Viewpoint - Cambium Networks (CMBM) reported a quarterly loss of $0.25 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.21, and a significant decline from earnings of $0.03 per share a year ago, indicating ongoing financial struggles for the company [1][2]. Financial Performance - Cambium's revenues for the quarter ended June 2024 were $45.95 million, slightly exceeding the Zacks Consensus Estimate by 0.06%, but down from $59.54 million in the same quarter last year [2]. - Over the last four quarters, Cambium has not surpassed consensus EPS estimates, reflecting a consistent underperformance [2]. Stock Performance - Cambium shares have declined approximately 70.5% since the beginning of the year, contrasting sharply with the S&P 500's gain of 9% [3]. - The current Zacks Rank for Cambium is 4 (Sell), indicating expectations for continued underperformance in the near future [6]. Earnings Outlook - The consensus EPS estimate for the upcoming quarter is -$0.02 on revenues of $59.36 million, and for the current fiscal year, it is -$0.60 on revenues of $216.2 million [7]. - The trend of estimate revisions for Cambium has been unfavorable leading up to the earnings release, which may impact future stock performance [6]. Industry Context - Cambium operates within the Wireless National industry, which is currently ranked in the bottom 25% of over 250 Zacks industries, suggesting a challenging environment for growth [8].

Exhibit 99.1 Cambium Networks Reports Second Quarter 2024 Financial Results • Revenues of $45.9 million increased 9% sequentially • Gross margin of 31.4%, non-GAAP(1) gross margin of 33.5% • Operating loss of $12.1 million, non-GAAP(1) operating loss of $7.9 million • Net loss of $9.1 million or a loss of $0.33 per diluted share, non-GAAP(1) net loss of $7.1 million or a loss of $0.25 per diluted share • Net cash provided by operating activities of $2.4 million; $42.6 million cash on the balance sheet • Adj ...

Revenues of $45.9 million increased 9% sequentially Gross margin of 31.4%, non-GAAP(1) gross margin of 33.5% Operating loss of $12.1 million, non-GAAP(1) operating loss of $7.9 million Net loss of $9.1 million or a loss of $0.33 per diluted share, non-GAAP(1) net loss of $7.1 million or a loss of $0.25 per diluted share Net cash provided by operating activities of $2.4 million; $42.6 million cash on the balance sheet Adjusted EBITDA(1) loss of $6.7 million or (14.5)% of revenues, an improvement of 57% seque ...

HOFFMAN ESTATES, Ill., Aug. 1, 2024 /PRNewswire/ -- Cambium Networks (NASDAQ: CMBM), a leading provider of wireless and wired networking solutions, and Cal.net, a premier provider of TV, Phone, and HighSpeed Broadband services throughout the Central Valley and rural Northern California, today announced the deployment of a 6 GHz fixed wireless access (FWA) network following the recent approval by the United States Federal Communications Commission (FCC) for outdoor use of 6 GHz spectrum. This deployment mark ...

NEW YORK, July 22, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Cambium Networks Corporation (NASDAQ: CMBM). https://securitiesclasslaw.com/securities/cambium-networks-loss-submission-form/?id=91391&from=3 WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed t ...