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Side-by-side financial comparison of Cambium Networks Corp (CMBM) and Forward Industries, Inc. (FWDI). Click either name above to swap in a different company.
Cambium Networks Corp is the larger business by last-quarter revenue ($40.3M vs $21.4M, roughly 1.9× Forward Industries, Inc.). Cambium Networks Corp runs the higher net margin — -17.9% vs -2732.2%, a 2714.2% gap on every dollar of revenue. On growth, Forward Industries, Inc. posted the faster year-over-year revenue change (224.0% vs -23.2%). Over the past eight quarters, Forward Industries, Inc.'s revenue compounded faster (74.6% CAGR vs -27.2%).
Cambium Networks Corporation is an American manufacturer of wireless telecommunications equipment, including Enterprise WiFi, Network switch, Internet of Things, and fixed wireless broadband and Wi-Fi for enterprises products for Internet access. Publicly traded on the NASDAQ stock exchange, it spun out of Motorola in October 2011.
Melrose Industries plc is a British aerospace manufacturing company based in Birmingham, England. It is the parent company of GKN Aerospace. The company's shares are listed on the London Stock Exchange as a constituent of the FTSE 100 Index.
CMBM vs FWDI — Head-to-Head
Income Statement — Q4 FY2024 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $40.3M | $21.4M |
| Net Profit | $-7.2M | $-585.7M |
| Gross Margin | 36.6% | 78.6% |
| Operating Margin | -28.4% | -2722.8% |
| Net Margin | -17.9% | -2732.2% |
| Revenue YoY | -23.2% | 224.0% |
| Net Profit YoY | 71.0% | -82611.5% |
| EPS (diluted) | $-0.26 | $-5.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $21.4M | ||
| Q3 25 | — | $7.9M | ||
| Q2 25 | — | $2.5M | ||
| Q1 25 | — | $3.1M | ||
| Q4 24 | $40.3M | $6.6M | ||
| Q3 24 | $44.7M | — | ||
| Q2 24 | $45.2M | $7.8M | ||
| Q1 24 | $47.1M | $5.1M |
| Q4 25 | — | $-585.7M | ||
| Q3 25 | — | $-164.0M | ||
| Q2 25 | — | $-850.0K | ||
| Q1 25 | — | $-1.5M | ||
| Q4 24 | $-7.2M | $-708.1K | ||
| Q3 24 | $-34.5M | — | ||
| Q2 24 | $-14.2M | $-399.6K | ||
| Q1 24 | $-18.4M | $-553.2K |
| Q4 25 | — | 78.6% | ||
| Q3 25 | — | 61.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | 36.6% | 17.1% | ||
| Q3 24 | 43.6% | — | ||
| Q2 24 | 32.5% | 16.8% | ||
| Q1 24 | 29.8% | 26.2% |
| Q4 25 | — | -2722.8% | ||
| Q3 25 | — | -39.2% | ||
| Q2 25 | — | -102.6% | ||
| Q1 25 | — | -58.3% | ||
| Q4 24 | -28.4% | -13.6% | ||
| Q3 24 | -69.6% | — | ||
| Q2 24 | -27.2% | -5.9% | ||
| Q1 24 | -33.1% | -12.2% |
| Q4 25 | — | -2732.2% | ||
| Q3 25 | — | -2063.6% | ||
| Q2 25 | — | -34.1% | ||
| Q1 25 | — | -46.5% | ||
| Q4 24 | -17.9% | -10.7% | ||
| Q3 24 | -77.3% | — | ||
| Q2 24 | -31.5% | -5.1% | ||
| Q1 24 | -39.2% | -10.9% |
| Q4 25 | — | $-5.91 | ||
| Q3 25 | — | $-21.86 | ||
| Q2 25 | — | $-0.77 | ||
| Q1 25 | — | $-1.32 | ||
| Q4 24 | $-0.26 | $-0.64 | ||
| Q3 24 | $-1.22 | — | ||
| Q2 24 | $-0.51 | $-0.36 | ||
| Q1 24 | $-0.66 | $-0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $67.6M | — |
| Stockholders' EquityBook value | $-3.2M | $880.9M |
| Total Assets | $173.7M | $892.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $67.6M | — | ||
| Q3 24 | $67.6M | — | ||
| Q2 24 | $68.9M | — | ||
| Q1 24 | $63.8M | — |
| Q4 25 | — | $880.9M | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $3.4M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | $-3.2M | $2.3M | ||
| Q3 24 | $1.9M | — | ||
| Q2 24 | $34.1M | $1.4M | ||
| Q1 24 | $45.0M | $1.8M |
| Q4 25 | — | $892.9M | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $8.3M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | $173.7M | — | ||
| Q3 24 | $194.3M | — | ||
| Q2 24 | $221.1M | $15.2M | ||
| Q1 24 | $219.8M | $15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 36.12× | — | ||
| Q2 24 | 2.02× | — | ||
| Q1 24 | 1.42× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-10.4M | $-7.9M |
| Free Cash FlowOCF − Capex | $-10.8M | — |
| FCF MarginFCF / Revenue | -26.8% | — |
| Capex IntensityCapex / Revenue | 1.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-21.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-7.9M | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | — | $-1.2M | ||
| Q1 25 | — | $-537.6K | ||
| Q4 24 | $-10.4M | $-434.3K | ||
| Q3 24 | $8.9M | — | ||
| Q2 24 | $2.4M | $436.0K | ||
| Q1 24 | $-15.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | — | $-1.2M | ||
| Q1 25 | — | $-539.0K | ||
| Q4 24 | $-10.8M | $-439.7K | ||
| Q3 24 | $6.8M | — | ||
| Q2 24 | $87.0K | $426.8K | ||
| Q1 24 | $-17.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -57.0% | ||
| Q2 25 | — | -50.0% | ||
| Q1 25 | — | -17.3% | ||
| Q4 24 | -26.8% | -6.6% | ||
| Q3 24 | 15.2% | — | ||
| Q2 24 | 0.2% | 5.5% | ||
| Q1 24 | -37.0% | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 1.1% | 0.1% | ||
| Q3 24 | 4.8% | — | ||
| Q2 24 | 5.1% | 0.1% | ||
| Q1 24 | 3.3% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMBM
| Enterprise | $16.6M | 41% |
| Point To Multi Point | $16.4M | 41% |
| Other | $5.8M | 14% |
FWDI
| CODM | $17.4M | 81% |
| Design Segment | $4.1M | 19% |
