Cambium Networks Reports 10% Revenue Decline and $38.5 Million Net Loss for Fiscal Year 2025

Cambium Networks Corporation reported a decline in financial performance for the fiscal year ending December 31, 2025, with total revenues of $159.6 million, down 10% from $177.3 million in 2024. The decrease was primarily driven by a significant drop in product revenues, which fell by $16.5 million, or 10.5%, largely due to reduced demand for point-to-multi-point (PMP) products and challenges in meeting customer demand following a transition in manufacturing from Mexico to Thailand. The company also experienced a decrease in subscription and services revenue, which declined by $1.1 million, or 5.7%, attributed to lower service revenue despite an increase in software subscriptions.

In terms of profitability, Cambium reported a net loss of $38.5 million for 2025, a significant improvement compared to a net loss of $74.5 million in the previous year. This improvement was aided by a reduction in total operating expenses, which decreased by 30.9% to $92.1 million, primarily due to lower research and development and sales and marketing expenses. The gross profit margin for products increased from 32.7% in 2024 to 38.9% in 2025, reflecting a decrease in excess and obsolescence reserves and loss on supplier commitments, although the gross margin for subscriptions and services decreased from 57.9% to 50.1%.

Strategically, Cambium has been focusing on enhancing its product offerings, including the introduction of new Wi-Fi 7 access points and improvements in its enterprise networking solutions. The company has also been working to address operational challenges related to its manufacturing transition, which has impacted its ability to meet customer demand. As of December 31, 2025, Cambium had approximately 486 employees and over 11,500 channel partners, indicating a robust distribution network despite the operational hurdles faced.

Looking ahead, Cambium Networks faces significant challenges, including ongoing compliance issues with its credit agreement, which has resulted in defaults and raised concerns about its ability to continue as a going concern. The company is actively seeking additional capital and exploring divestiture options to improve its liquidity position. Furthermore, macroeconomic factors such as inflation, geopolitical tensions, and competition from new market entrants, including satellite providers, are expected to continue impacting demand for its products and services. Cambium's management is focused on improving operational efficiency and aligning its cost structure with current revenue levels to navigate these challenges effectively.