Cambium Networks billed $43M of shipments in Q3

Cambium Networks (CMBM) announced an update on recent financial and commercial activity. Financial highlights, unaudited, include: Cambium billed approximately $43M of shipments to customers during the Q3, compared to approximately $40M during the Q2, an increase of approximately 8%; customers placed approximately $45M in new orders during the Q3 compared to approximately $47M during the Q2. This 4% decrease is within the traditional seasonal variation between the Q2 and Q3 that we have experienced in prior years. Although Cambium’s distributors experienced a decrease of approximately 9% in sell-through on a sequential quarter basis, this was largely due to lack of available inventory, and this is expected to improve as our available inventory improves. “We are starting to see stability in our markets, as evidenced by our quarterly bookings and shipping levels and are encouraged by the normalized level of inventory in the channel,” said Morgan Kurk, president and CEO.