Cambium Says Revenue Decrease Primarily Due to Delay In Gov. Defense Orders Due To US Federal Budgetary Timing Issues, Sluggish Revenues In Point-to-Multi-Point Business, Decrease In Orders And Increase In Stock Rotations From Distributors
Portfolio Pulse from Bill Haddad
Cambium Networks has revised its revenue outlook for Q3 2023 to $40.0-$45.0 million, down from the previous estimate of $62.0-$70.0 million. The decrease is attributed to delays in government defense orders, sluggish revenues in the Point-to-Multi-Point business, decreased orders and increased stock rotations from distributors, and economic headwinds in EMEA. Consequently, the company is suspending its full-year 2023 guidance.
October 04, 2023 | 8:34 pm
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Cambium Networks' lowered revenue outlook and suspension of full-year 2023 guidance could negatively impact investor sentiment and potentially lead to a decrease in its stock price.
The lowered revenue outlook indicates that Cambium Networks is facing significant challenges in its business operations. This, coupled with the suspension of its full-year 2023 guidance, could lead to uncertainty among investors and potentially result in a decrease in the company's stock price.
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