Cambium Networks Sees Q3 EPS $(0.14)-$(0.19) Vs $(0.03) Est.; Revenue $43M-$48M Vs $58.7M Est.; Sees FY24 EPS $(0.87)-$(1.04) Vs $(0.60) Est.; Revenue $180M-$190M Vs $213.7M Est.

Author: Benzinga Newsdesk | August 08, 2024 04:32pm

Third Quarter 2024 Financial Outlook

Taking into account our current visibility, the financial outlook as of August 8, 2024, for the third quarter ending September 30, 2024, is as follows:

• Revenues between $43.0-$48.0 million
• GAAP gross margin between 39.5%-41.5%; and non-GAAP gross margin between 41.5%-43.5%
• GAAP operating expenses between $26.6-$27.6 million; and non-GAAP operating expenses between $23.4-$24.4 million
• GAAP operating loss between $7.7-$9.7 million; and non-GAAP operating loss between $3.6-$5.6 million
• Interest expense, net, of approximately $1.6 million
• GAAP net loss between $8.0-$9.7 million or a net loss between $0.28 and $0.34 per diluted share; and non-GAAP net loss between $3.8-$5.4 million or a net loss between $0.14 and $0.19 per diluted share
• Adjusted EBITDA loss between $2.4-$4.4 million; and adjusted EBITDA margin between (4.9)%-(10.2%)
• GAAP effective tax rate not meaningful; and a non-GAAP effective tax benefit of approximately 25%
• Approximately 28.2 million weighted average diluted shares outstanding

Cash requirements are expected to be as follows:

• Paydown of debt: $0.7 million; Cash interest expense: approximately $1.5 million
• Capital expenditures: $2.0-$3.0 million

Full Year 2024 Financial Outlook

• Revenues between $180.0-$190.0 million
• GAAP gross margin approximately 35.0%; and non-GAAP gross margin approximately 37.0%
• GAAP net loss between $49.1-$55.3 million or a net loss between $1.74 and $1.96 per diluted share; and non-GAAP net loss between $24.6-$29.4 million or between a net loss between $0.87 and $1.04 per diluted share
• Adjusted EBITDA margin between (12.0)%-(16.2)%

Posted In: CMBM