Cambium Networks reports Q4 non-GAAP EPS (95c), consensus (39c)

Reports Q4 revenue $40.2M, consensus $41.16M. “Our revenue shortfall was due in part to an $11M reduction to revenues mostly as the result of incentives and discounts provided to distributors related to our Enterprise business during the fourth quarter 2023. As expected, we delivered a solid quarter of government defense shipments in our Point-to-Point business, received meaningful orders for our new 6 GHz products in the Point-to-Multi-Point business ahead of the Federal Communications Commission’s approval, and continued to make significant reductions in channel inventories for the Enterprise business,” said Morgan Kurk, CEO. “The approval of 6 GHz spectrum by the FCC will accelerate the growth of the Point-to-Multi-Point business during 2024. We believe we are well positioned to deliver future growth and are taking the necessary steps to rationalize business operations and improve operating efficiencies to benefit our operating results during calendar 2024.”