Revenue: As of FY2024, the actual value is USD 177.29 M.EPS: As of FY2024, the actual value is USD -2.65.EBIT: As of FY2024, the actual value is USD -70.46 M.<h4>Overall Financial Performance</h4><ul><li>Total Revenues: Decreased from $226,767 thousand in 2023 to $177,286 thousand in 2024, a change of -21.8%.</li><li>Cost of Revenues: Decreased from $149,928 thousand in 2023 to $114,355 thousand in 2024.</li><li>Gross Profit: Decreased from $76,839 thousand in 2023 to $62,931 thousand in 2024.</li><li>Total Gross Profit Margin: Increased from 33.9% in 2023 to 35.5% in 2024.</li></ul><h4>Operating Expenses</h4><ul><li>Research and Development: Decreased from $53,478 thousand in 2023 to $39,292 thousand in 2024, a change of -26.5%, primarily due to lower employee-related expense, outside contractor spend, and engineering material spend.</li><li>Sales and Marketing: Decreased from $42,906 thousand in 2023 to $36,719 thousand in 2024, a change of -14.4%, mainly driven by lower employee-related expense, outside contractor spend, and marketing-related spend.</li><li>General and Administrative: Decreased from $28,065 thousand in 2023 to $26,010 thousand in 2024, a change of -7.3%, primarily due to a reduction in nonrecurring costs and lower employee-related expense.</li><li>Depreciation and Amortization: Decreased from $6,210 thousand in 2023 to $5,786 thousand in 2024, a change of -6.8%.</li><li>Impairment: Increased from - $0 thousand in 2023 to $25,535 thousand in 2024, a change of 100.0%, including charges on property and equipment, goodwill, and intangible assets.</li></ul><h4>Operating Loss and Net Loss</h4><ul><li>Operating Loss: Increased from - $53,820 thousand in 2023 to - $70,411 thousand in 2024.</li><li>Interest Expense, net: Increased from $2,521 thousand in 2023 to $5,843 thousand in 2024, a change of 131.8%, mainly due to drawing on a revolving credit facility and increased interest rates.</li><li>Other Expense, net: Decreased from $271 thousand in 2023 to $52 thousand in 2024, a change of -80.8%, primarily due to foreign currency fluctuations.</li><li>Loss before income taxes: Increased from - $56,612 thousand in 2023 to - $76,306 thousand in 2024.</li><li>Provision (benefit) for income taxes: Changed from a provision of $17,468 thousand in 2023 to a benefit of - $1,854 thousand in 2024, a change of -110.6%.</li><li>Net Loss: Increased from - $74,080 thousand in 2023 to - $74,452 thousand in 2024.</li></ul><h4>Segment Revenue by Product Category</h4><ul><li>Point-to-Multi-Point (PMP): Decreased from $95,816 thousand in 2023 to $73,469 thousand in 2024, a change of -23.3%, driven by decreased demand across most regions.</li><li>Point-to-Point (PTP): Decreased from $81,470 thousand in 2023 to $48,195 thousand in 2024, a change of -40.8%, mostly due to decreased demand for defense products in North America.</li><li>Enterprise: Increased from $44,377 thousand in 2023 to $50,282 thousand in 2024, a change of 13.3%, largely due to increased demand for Wi-Fi 6 and switching products in EMEA.</li><li>Other: Increased from $5,104 thousand in 2023 to $5,340 thousand in 2024, a change of 4.6%.</li><li>Subscriptions and Services: Increased from $18,628 thousand in 2023 to $19,481 thousand in 2024, a change of 4.6%, primarily due to increased volume of software subscriptions.</li></ul><h4>Segment Revenue by Geography</h4><ul><li>North America: Decreased from $138,927 thousand in 2023 to $86,914 thousand in 2024, a change of -37.4%, primarily due to decreased PTP, PMP, and enterprise revenues.</li><li>Europe, Middle East, Africa (EMEA): Increased from $43,647 thousand in 2023 to $50,956 thousand in 2024, a change of 16.7%, mainly from increased enterprise product revenues.</li><li>Caribbean and Latin America (CALA): Remained relatively flat, decreasing from $20,667 thousand in 2023 to $20,527 thousand in 2024, a change of -0.7%.</li><li>Asia Pacific (APAC): Decreased from $23,526 thousand in 2023 to $18,889 thousand in 2024, a change of -19.7%, driven by lower revenues across all product categories.</li></ul><h4>Cash Flow</h4><ul><li>Cash used in operating activities: Was - $16,696 thousand in 2023 and - $14,975 thousand in 2024.</li><li>Cash used in investing activities: Was - $11,481 thousand in 2023 and - $11,898 thousand in 2024.</li><li>Cash (used in) provided by financing activities: Was - $1,269 thousand in 2023 and $43,183 thousand in 2024, with the 2024 increase primarily due to drawing $45.0 million on a revolving credit facility.</li></ul><h4>Outlook / Guidance</h4>Cambium Networks Corporation anticipates ongoing revenue challenges due to market pressures like inventory sell-down, macroeconomic factors, and increased competition from new entrants. The company faces substantial doubt about its ability to continue as a going concern due to non-compliance with credit agreement covenants and declining cash. This necessitates potential divestitures or capital raising to meet obligations and address the uncertainty in customer demand and investment plans.

CAMBIUM NETWORKS CORPORATION | 10-K: FY2024 Revenue: USD 177.29 M