What's Going On With Cambium Networks (CMBM) Stock?
Portfolio Pulse from Henry Khederian
Cambium Networks Corp (CMBM) shares are trading higher despite the company lowering its Q3 revenue outlook to $40-$45 million from $62-$70 million due to delayed government orders, sluggish sector growth, reduced orders, and economic challenges in EMEA. The company has also suspended its full-year 2023 guidance. However, point-of-sale revenues are up, suggesting reduced channel inventories. The company has about $27 million in cash and a $45 million unused credit line.
October 06, 2023 | 2:49 pm
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Cambium Networks' shares are trading higher despite a lowered Q3 revenue outlook and suspension of its 2023 guidance. The company's point-of-sale revenues are up, indicating reduced channel inventories.
Despite the lowered revenue outlook and suspension of 2023 guidance, which are typically negative signals, Cambium Networks' shares are trading higher. This could be due to the increase in point-of-sale revenues, which suggests reduced channel inventories and potential for future revenue growth. The company's solid cash position and unused credit line also provide financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100