Cambium Networks reports Q3 non-GAAP EPS 44c, consensus (9c)

Reports Q3 revenue $43.0M, consensus $43.0M. “As mentioned in our preliminary third quarter results press release, we are challenged by high channel inventories for Enterprise products, delayed government defense orders due to budgetary timing issues-which now appear to be resolving during the fourth quarter 2023, and lower revenues in the Point-to-Multi-Point business, which is expected to continue until the FCC’s approval and subsequent ramp of sales of Cambium’s 6 GHz products,” said Morgan Kurk, CEO. “Cambium is taking steps to improve profitability and to rationalize business operations with the current demand environment. We believe we have the right products and technologies to deliver future growth as we drive operating efficiencies and build customer acceptance, and we look forward to the addition of 6 GHz spectrum which will benefit the Point-to-Multi-Point business.”