The company's financial leverage has increased substantially, with the debt-to-equity ratio surging from 0.19 in 2023Q1 to 1.76 in 2024Q3, reflecting a weakening capital structure.
| Total Current Assets | 171.18M | 162.57M | 212.99M | 180.59M | 165.13M | 129.32M | 105.57M | 85.63M | 81.98M |
| Cash & Short-Term Investments | 46.49M | 18.71M | 48.16M | 59.29M | 62.47M | 19.35M | 4.44M | 7.38M | 14.63M |
| Cash Only | 46.49M | 18.71M | 48.16M | 59.29M | 62.47M | 19.35M | 4.44M | 7.38M | 14.63M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 58.39M | 64.33M | 89.44M | 70.63M | 59.53M | 58.63M | 61.07M | 52.21M | 40.27M |
| Days Sales Outstanding | 128.49 | 106.63 | 109.95 | 76.76 | 78.04 | 80.14 | 92.2 | 87.95 | 81.02 |
| Inventory | 42.98M | 66.88M | 57.07M | 33.78M | 33.96M | 41.67M | 30.71M | 21.89M | 22.66M |
| Days Inventory Outstanding | 137.75 | 161.27 | 137.26 | 70.43 | 89.15 | 112 | 88.77 | 75.39 | 90.18 |
| Other Current Assets | 7.39M | 6.07M | 6.46M | 4.72M | 5.02M | 4.35M | 5.89M | 1.32M | 1.36M |
| Total Non-Current Assets | 51.43M | 55.3M | 56.47M | 51.68M | 40.62M | 43.16M | 36.48M | 35.99M | 36.78M |
| Property, Plant & Equipment | 20.66M | 20.77M | 15.28M | 16.39M | 12.62M | 15.19M | 7.96M | 5.22M | 3.83M |
| Fixed Asset Turnover | 8.16x | 10.60x | 19.43x | 20.49x | 22.07x | 17.58x | 30.35x | 41.50x | 47.31x |
| Goodwill | 9.84M | 9.84M | 9.84M | 9.84M | 9.84M | 8.55M | 8.06M | 8.06M | 8.06M |
| Intangible Assets | 19.94M | 19.66M | 17.61M | 16.64M | 16.33M | 18.5M | 12.44M | 16.66M | 20.88M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4M |
| Other Non-Current Assets | 983K | 1.33M | 955K | 1.2M | 288K | 0 | 0 | 0 | 4M |
| Total Assets | 222.61M | 217.88M | 269.46M | 232.27M | 205.75M | 172.48M | 142.06M | 121.61M | 118.76M |
| Asset Turnover | 0.77x | 1.01x | 1.10x | 1.45x | 1.35x | 1.55x | 1.70x | 1.78x | 1.53x |
| Asset Growth % | -69.32% | -19.14% | 16.01% | 12.89% | 19.29% | 21.42% | 16.81% | 2.4% | - |
| Total Current Liabilities | 156.06M | 96.33M | 87.22M | 82.14M | 107.61M | 67.87M | 66.3M | 54.64M | 39.43M |
| Accounts Payable | 19.62M | 19.12M | 31.28M | 28.24M | 30.86M | 25.21M | 23.71M | 18.48M | 13.66M |
| Days Payables Outstanding | 45.72 | 46.11 | 75.24 | 58.88 | 81 | 67.77 | 68.54 | 63.64 | 54.38 |
| Short-Term Debt | 67.58M | 3.19M | 3.16M | 2.49M | 29.2M | 9.45M | 8.84M | 3.93M | 3.14M |
| Deferred Revenue (Current) | 34.5M | 8.77M | 8.91M | 6.88M | 6.47M | 7.43M | 2.77M | 2.89M | 2.69M |
| Other Current Liabilities | 13.76M | 18.19M | 15.82M | 22.58M | 20.92M | 10.74M | 7.14M | 9.25M | -7.32M |
| Current Ratio | 1.10x | 1.69x | 2.44x | 2.20x | 1.53x | 1.91x | 1.59x | 1.57x | 2.08x |
| Quick Ratio | 0.82x | 0.99x | 1.79x | 1.79x | 1.22x | 1.29x | 1.13x | 1.17x | 1.50x |
| Cash Conversion Cycle | 220.52 | 221.79 | 171.97 | 88.31 | 86.18 | 124.37 | 112.43 | 99.7 | 116.82 |
| Total Non-Current Liabilities | 22.92M | 40.61M | 36.87M | 37.99M | 34.76M | 64.68M | 96.33M | 84.8M | 120.38M |
| Long-Term Debt | 0 | 21.93M | 24.46M | 26.96M | 24.96M | 54.16M | 94.18M | 83.44M | 95.92M |
| Capital Lease Obligations | 29.38M | 6.59M | 2.17M | 4.11M | 3.33M | 5.33M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 9K | 337K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.82M | 1.62M | 1.62M | 1.54M | 2.01M | 0 | 605K | 0 | 23.12M |
| Total Liabilities | 178.98M | 136.94M | 124.09M | 120.13M | 142.37M | 132.21M | 162.63M | 139.44M | 159.82M |
| Total Debt | 76.91M | 31.71M | 29.79M | 33.57M | 57.49M | 68.95M | 103.02M | 87.38M | 99.06M |
| Net Debt | 30.42M | 13M | -18.37M | -25.73M | -4.98M | 49.6M | 98.58M | 80M | 84.44M |
| Debt / Equity | 1.76x | 0.39x | 0.20x | 0.30x | 0.91x | 1.73x | - | - | - |
| Debt / EBITDA | -1.05x | - | 1.08x | 0.77x | 1.84x | 9.68x | 6.70x | 3.67x | 4.80x |
| Net Debt / EBITDA | -0.41x | - | -0.67x | -0.59x | -0.16x | 6.96x | 6.41x | 3.36x | 4.09x |
| Interest Coverage | -19.20x | -24.14x | 10.06x | 8.53x | 4.50x | 0.09x | 0.78x | 2.96x | 1.61x |
| Total Equity | 43.63M | 80.93M | 145.37M | 112.14M | 63.39M | 39.93M | -20.57M | -17.83M | -41.05M |
| Equity Growth % | -240.51% | -44.33% | 29.64% | 76.91% | 58.75% | 294.1% | -15.4% | 56.58% | - |
| Book Value per Share | 1.55 | 2.94 | 5.19 | 3.92 | 2.40 | 1.56 | -1.04 | -0.90 | -2.07 |
| Total Shareholders' Equity | 43.63M | 80.93M | 145.37M | 112.14M | 63.39M | 39.93M | -20.57M | -17.83M | -49.67M |
| Common Stock | 3K | 3K | 3K | 3K | 3K | 3K | 0 | 772K | 772K |
| Retained Earnings | -109.86M | -64.6M | 12.82M | -7.38M | -44.8M | -63.37M | -45.77M | -43.4M | -52.53M |
| Treasury Stock | -5.66M | -5.62M | -4.92M | -3.91M | -1.09M | -1.09M | 0 | 0 | 0 |
| Accumulated OCI | -1.8M | -1.61M | -1.53M | -699K | -564K | -379K | -221K | 151K | 2.08M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.62M |
Liquidity and leverage strain
According to recent quarterly filings, Cambium's equity base has contracted from $154.1M in 2023Q2 to $43.6M by 2024Q3, a trend that underscores the severe impact of persistent operating losses on the company's long-term financial stability and overall capital structure integrity.
The consistent decline in retained earnings, which have plummeted to a negative $109.9M, suggests that the company is rapidly consuming its capital base to fund ongoing operations. This trajectory indicates a fundamental misalignment between the current business model and market demand, warranting significant concern regarding future solvency.
As reported in financial statements, the company's debt-to-equity ratio has surged from 0.19 in 2023Q1 to 1.76 in 2024Q3, signaling that management is increasingly relying on debt financing to bridge the widening gap between operational cash outflows and dwindling internal liquidity reserves.
The sharp increase in total debt to $76.9M, coupled with a shrinking equity base, suggests that the company's financial flexibility is becoming severely constrained. Investors should monitor whether this leverage is a temporary bridge or a sign of structural distress that may necessitate dilutive equity raises.
Based on the most recent balance sheet data, the current ratio has compressed from a healthy 2.45 in 2023Q2 to 1.10 in 2024Q3, indicating that the company's ability to cover short-term obligations is rapidly diminishing as cash reserves fail to keep pace with liabilities.
With cash levels hovering at $46.5M against a backdrop of significant operating losses, the company's liquidity runway appears increasingly precarious. This tightening of working capital suggests that any further delays in revenue recovery could force management to seek external financing under potentially unfavorable terms.
Data from recent SEC filings reveals that while goodwill remains stable at $9.8M, the company's reliance on inventory and receivables to support its current ratio may be misleading, as these assets are subject to significant impairment risk in a contracting wireless infrastructure market.
The concentration of assets in potentially slow-moving inventory suggests that the headline liquidity metrics may overstate the company's actual ability to meet immediate cash needs. Analysts should scrutinize the quality of these current assets, as they may be less liquid than the reported figures imply.
Quick answers to the most common questions about buying CMBM stock.
As of 2023, Cambium Networks Corporation (CMBM) had total assets of $217.9M including $162.6M in current assets.
Cambium Networks Corporation (CMBM) carries total debt of $31.7M, offset by $18.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Cambium Networks Corporation (CMBM) has total shareholders' equity (book value) of $80.9M ($2.94 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Cambium Networks Corporation (CMBM) reported a current ratio of 1.69x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.