Cambium Networks says the cut in outlook is due to delayed government orders, slow growth in certain sectors, reduced orders and economic challenges in EMEA. The company's full-year 2023 guidance is suspended.

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While reported revenues are down, point-of-sale revenues are up, suggesting reduced channel inventories. Net income and earnings per share for third-quarter 2023 are expected to be lower than previous estimates.

Cambium Networks also says the company has about $27 million in cash and a $45 million unused credit line.

According to data from Benzinga Pro, CMBM has a 52-week high of $24.19 and a 52-week low of $6.93.