Company $CBRS announced its first quarterly results (Q1 2026) since the IPO



- Revenue = $193.4 million (exceeded expectations of $180.8 million by +7%), with +94% YoY growth and +13% QoQ growth
◦ Hardware = $110.6 million, up +59% YoY
◦ Cloud and services = $82.8 million, up +178% YoY
- Gross margin = 45%
- Operating loss = $15.0 million (narrowed from $28.5 million a year ago)
- Net loss = $14.0 million (narrowed from $23.9 million)
- Loss per share = -$0.22 (vs. -$0.46 a year ago)
- Cash and investments = $3.3 billion

Adjusted figures (Non-GAAP)
- Core revenue = $191.3 million, up +92% YoY and +12% QoQ
◦ Hardware = $111.6 million, up +60% YoY
◦ Cloud and services = $79.8 million, up +167% YoY
- Gross margin = 47%
- Operating loss = $3.5 million (narrowed from $19.3 million)
- Net loss = $2.5 million (narrowed from $14.7 million)
- Adjusted EBITDA = $12.7 million (turned positive from -$15.4 million)
- Operating cash flow = $12.3 million (turned positive from -$54.9 million)

Non-GAAP guidance for Q2 2026:
- Revenue = ~ $194.0 million, up +88% YoY
- Gross margin = 36% - 38% (down from 47%)
- Operating margin = -30% to -32%

Non-GAAP guidance for full year 2026:
- Revenue = $855.0 million - $865.0 million, up +69% YoY
- Gross margin = 38% - 41%
- Operating margin = -28% to -32%
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