Cambium Networks (CMBM) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was $44.6 million, up 32.1% year-over-year, driven by strong demand for enterprise and point-to-multi-point products, especially with the industry transition to Wi-Fi 7 and adoption of 60 GHz products by large retailers.

• Net loss for the quarter was $3.4 million, a significant improvement from a $12.0 million net loss in Q1 2025.

• Gross margin improved to 50.8% from 43.3% year-over-year, reflecting a favorable product mix and lower professional services costs.

• The company remains out of compliance with key financial covenants under its credit agreement, raising substantial doubt about its ability to continue as a going concern.

Financial highlights

• Product revenue increased 38.2% to $40.2 million, while subscriptions and services revenue declined 6.5% to $4.3 million year-over-year.

• Operating loss narrowed to $1.2 million from $9.6 million in the prior year quarter.

• Cash balance at March 31, 2026 was $6.1 million, down $5.2 million from year-end 2025.

• Interest expense was $2.0 million, up 4.0% year-over-year.

Outlook and guidance

• Management expects continued pressure on revenues and gross margins due to aggressive industry competition, pricing pressure, and macroeconomic uncertainty.

• The company is actively seeking additional capital through divestitures or capital raising and is working with its lender to address covenant breaches.